MOSCOW (MRC) -- BASF Group, the world's largest chemicals firm by sales, has reported that its 2015 net income decreased to 3.99 billion euros from 5.15 billion euros, last year, as per the company's report.
Earnings per share was 4.33 euros compared to 5.60 euros. Adjusted earnings per share was 5.00 euros compared to 5.44 euros. EBIT before special items decreased to 6.74 billion euros from 7.36 billion euros.
Sales revenue declined year-over-year to 70.45 billion euros from 74.33 billion euros.
The company proposed to increase the dividend by 0.10 euros to 2.90 euros per share.
In 2016, the company expects its sales will decline significantly. BASF Group expects to achieve a slightly lower level of EBIT before special items than in 2015.
We remind that BASF and Gazprom completed the swap of assets with equivalent value effective at the end of September 30, 2015, financially retroactive to April 1, 2013. With the swap, BASF is further expanding its production of oil and gas and has exited the gas trading and storage business.
As MRC informed before, from October 2015, BASF SE started to offer its customers in Europe GPPS (general purpose polystyrene) from its production facility in Ludwigshafen. As well as utilizing it for its own needs - polystyrene is used for example for manufacturing Neopor and Styrodur - a sufficient quantity is now available following the expiry of contractual obligations for it to be supplied to customers.
BASF is the largest diversified chemical company in the world and is headquartered in Ludwigshafen, Germany. BASF produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries. BASF had sales of over EUR74 billion in 2014 and over 113,000 employees as of the end of the year.
MRC