• Income from operations expected to be €6.2 billion (minus 18% compared with previous year)
• Income from operations before special items expected to be within forecast at €6.7 billion (minus 8% compared with previous year)
As forecast by BASF, sales and income from operations (EBIT) before special items for the full year 2015 are slightly below the level of the previous year. Sales decline by 5% to €70.4 billion (2014: €74.3 billion). EBIT before special items in 2015 is expected to be €6.7 billion (2014: €7.4 billion). The decrease in sales is primarily due to the divestiture of the natural gas trading and storage activities. The decline in EBIT before special items is due in particular to significantly lower earnings in the Oil & Gas and Chemicals segments in the fourth quarter of 2015 compared with the same period of 2014. In the Chemicals segment, this is mainly due to lower margins in the Petrochemicals division.
For the full year 2015, EBIT of BASF Group is expected to be €6.2 billion. This significant decline compared with the level of the previous year (2014: €7.6 billion) is mainly due to impairments in the Oil & Gas segment. The company had previously expected only slightly lower EBIT in the full year 2015. The reason for the impairments in the Oil & Gas segment is the strong decline in oil and gas prices in the past months. BASF anticipates that prices for oil and gas will remain at a low level in 2016. The assumptions for oil and gas prices have also been reduced for subsequent years. This results in impairments of around €600 million in the Oil & Gas segment. This amount, which does not affect cash flow, is reported as a special item and reduces EBIT in the Oil & Gas segment in the fourth quarter of 2015.
On February 26, 2016, BASF will publish its Consolidated Financial Statements for 2015 and will comment on the figures at its Annual Press Conference.
At BASF (basf.com), we create chemistry and have been doing so for 150 years. Our portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF had sales of over €74 billion in 2014 and around 113,000 employees as of the end of the year. BASF shares are traded on the stock exchanges in Frankfurt (BAS), London (BFA) and Zurich (AN).
 A slight decline represents a change of up to minus 5% for sales and up to minus 10% for earnings.