BASF SE

Earnings Release • Aug 4, 2004

News Details

Ad-hoc | 4 August 2004 07:25

BASF improves outlook for full year 2004:

Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– BASF improves outlook for full year 2004: Substantial increase in sales and EBIT before special items – Very successful second quarter: Sales and earnings improve in all segments. – Successful cost-reduction measures will be continued worldwide. BASF’s Board of Executive Directors has raised its outlook for the full year 2004. BASF’s Chairman Dr. Jürgen Hambrecht said, “We expect the high demand for our products to continue, however at a more moderate rate of increase compared with the first half of 2004. We anticipate that Asia and North America will be the strongest growth drivers. Pressure continues from the high raw materials prices and we expect the average annual price of crude oil to be between $32 and $35 per barrel. We will rigorously continue with our restructuring measures. Overall, we are confident that we will achieve our new ambitious goal for the full year 2004: we aim to significantly increase sales and EBIT before special items. In this outlook, we are assuming that there are no unforeseeable events such as terrorist attacks, drastic raw materials price increases or extreme changes in currency exchange rates that would interrupt economic growth.” BASF had a very successful second quarter. Compared with the same quarter of 2003, sales increased by almost 13 percent to EUR9.3 billion. Income from operations (EBIT) before special items climbed 44 percent to EUR1.2 billion. Cumulative sales for the first half of 2004 amounted to EUR18.4 billion, or almost 8 percent more than in the same period of 2003. EBIT before special items increased by 32 percent to EUR2.3 billion in the first half. Contact: Michael Grabicki Phone: +49 621 60-99938 Fax: +49 621 60-92693 michael.grabicki@basf-ag.de end of ad-hoc-announcement (c)DGAP 04.08.2004 ——————————————————————————– WKN: 515 100; ISIN: DE0005151005; Index: DAX, EURO STOXX 50 Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg, Hannover, München und Stuttgart; London; Paris 040725 Aug 04