“Demand for our products remains strong, and the summer lull does not seem to be very pronounced,” BASF chairman Jürgen Hambrecht said after announcing the company had made €4.8bn profits before special items in the first half of 2008.
BASF, which has business in the wood coatings, adhesives and timber modification fields, also saw sales rise 10% to €32.2bn for the period.
However, Mr Hambrecht said the road ahead was “stonier and steeper, and the competition is tougher”.
“Extremely high raw material and oil prices, the persistently strong euro and the downswing in the US with its global impact will also influence our business in the coming months.”
European profits before special items increased by more than €600m or 15% to €3.7bn, while North American revenue decreased 19% to €443m.
Sales in the peformance products division were 1% higher in the second quarter compared to a year ago.
