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BASF records Q4 dip amid strong 2008 results

BASF saw a decline of 5.8% in fourth-quarter revenues to €668 million ($851.8 million at the current rate) amid strong annual results, showing 8.7% growth over the previous year. Appreciation of the US dollar and Japanese yen leading to a positive currency effect of 3% in the quarter could not offset a volume decline of 9% at stable prices. Earnings before interest, tax, depreciation and amortisation (EBITDA) declined 8.3% to €99 million ($126.2 million), while EBIT decreased by 3.7% to €705 million ($898.9 million).

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