OREANDA-NEWS. BASF raised sales in the third quarter of 2013 by 1.5% to around EUR 17.7 billion despite significantly negative currency effects. This growth was mainly the result of increased volumes, particularly in the Oil & Gas segment. Income from operations (EBIT) before special items rose by €221 million to just under EUR 1.7 billion.

Compared with the previous third quarter, EBIT rose by €279 million to about EUR 1.7 billion. Income before taxes and minority interests grew by EUR 287 million to EUR 1.5 billion compared with the previous third quarter. Net income rose by EUR 171 million to around EUR 1.1 billion. Earnings per share were EUR 1.20 in the third quarter of 2013, compared with EUR 1.01 in the same quarter of 2012.

Cash provided by operating activities amounted to around EUR 6.0 billion in the first three quarters of 2013, up by EUR 957 million compared with the same period of 2012. Free cash flow was EUR 2.9 billion compared with EUR 2.3 billion in the first nine months of the previous year.

Sales for companies headquartered in Europe rose by 5%, especially as a result of increased volumes in the Oil & Gas segment. In the Chemicals segment, however, sales declined primarily due to lower volumes and prices. EBIT before special items grew by €61 million to EUR 928 million. This was due to higher contributions from the Performance Products and Functional Materials & Solutions segments as well as improved earnings in Other.