Business in July and August suggests that BASF will fare clearly better than expected in the third quarter, helped in particular by strong demand from China, the CEO told Reuters, adding there was practically no summer slump.
When reporting first half results at the end of July, Hambrecht had warned that third quarter results tend to be weaker than second quarter earnings.
For 2010 BASF still expects a strong sales increase and a significant improvement in earnings before interest and taxes, before special items. In 2009, EBIT before special items came in at EUR4.9 billion.
At 1150 GMT, BASF shares trading up 0.2% at EUR45.37, outperforming the DAX which was trading down 1.0%.
-By Frankfurt Bureau, Dow Jones Newswires;