BASF’s Agricultural Solutions business posted a 10% in quarterly sales on higher volumes.
In the Agricultural Solutions segment, sales in the fourth quarter rose by 10% to $1.38 billion thanks to higher volumes. EBIT before special items decreased by $69 million to $73 million due to higher fixed costs, partly resulting from new or expanded production facilities, for example for the herbicide dicamba.
For the full year, sales fell by 4% to $5.9 billion as a result of lower sales volumes and negative currency effects. The challenging market environment for crop protection products particularly dampened demand for insecticides in South America and for fungicides in Europe. Prices matched the level of 2015. Strict cost management enabled fixed costs to be reduced in the Agricultural Solutions segment. Thanks to this development, EBIT before special items matched the previous year’s level at $1.2 billion despite the sales decline.