LUDWIGSHAFEN (dpa-AFX) - BASF SE (BASF SE), a German chemical company, Wednesday reported income before taxes of 570 million euros for the third quarter compared with loss before taxes of 38 million euros in the same quarter a year ago.
The company had income from non-integral companies accounted for using the equity method of 440 million euros for the latest quarter compared with a loss of 251 million euros in the previous-year quarter.
BASF posted net income of 287 million euros or 0.32 euros per share compared with net loss of 249 million euros or 0.28 euros per share a year ago. Excluding one-time items, adjusted earnings per share were $0.32, same as last year.
Income from operations or EBIT declined 36.5 percent to 250 million euros from 394 million euros in the previous year. Adjusted EBIT increased 10.3 percent year-on-year to 635 million euros.
EBITDA, or earnings before interest, taxes, depreciation, and amortization decreased 6.3 percent to 1.277 billion euros from 1.363 billion euros a year ago. Adjusted EBITDA rose 5 percent to 1.622 billion euros.
Sales for the quarter slightly climbed to 15.739 billion euros from 15.735 billion euros in the prior year.
Looking ahead, the company continues to expect adjusted EBITDA in the range of 8 billion euros - 8.6 billion euros.
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