BASF in excellent shape and optimistic for 2011

March 2, 2011

March 2, 2011

BASF SE, a major supplier of carbonyl iron powder and Catamold® feedstock to the PM and PIM industry, as well as a wide range of polymer and chemical products, has reported record results for 2010.

Dr. Jürgen Hambrecht, Chairman of the Board of Executive Directors, said, “We achieved record sales and earnings in 2010. In the chemicals business, in particular, we were able to take advantage of the strong economic recovery in 2010, which was more dynamic than we all initially expected.”

Positive impulses from all regions contributed to the double-digit sales growth. Compared with 2009, total sales rose 26% to reach €63.9 billion. Income from operations (EBIT) before special items increased 68% to €8.1 billion.

The business environment was also favourable in the fourth quarter of 2010. Sales rose 25% versus the same quarter in 2009 and at €16.4 billion, they were the highest of any quarter in 2010.

Outlook for 2011

“Overall, we are optimistic for the first quarter and the year as a whole.” continued Hambrecht, “One positive result of this is that the total number of BASF employees will increase by about 2,900 in the current year. The focus is on Asia, but we also plan to hire an additional 800 employees in Germany, thereof approximately 500 at the Ludwigshafen site.” BASF currently has 109,000 employees and close to 385 production sites worldwide.

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March 2, 2011

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