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BASF Targets 90 Billion Euros in Revenue by 2020

https://www.chemnet.com   Jun 07,2010

 

BASF SE, the world’s biggest chemical maker, plans to increase revenue to more than 90 billion euros ($110 billion) by 2020, led by growth in Asia and South America.
 
Revenue is expected to swell to 20 billion euros in the Asia-Pacific region by the end of the decade, the German chemical maker said in a presentation today. That compares with targeted sales of 49 billion euros in Europe, Africa and the Middle East and 17 billion euros in North America. BASF’s sales totaled 50.7 billion euros last year.
 
BASF reiterated a pledge to outpace growth in the industry this year and to “significantly” improve operating profit. The company aims to earn a premium on its cost of capital this year. Last year’s failure to at least earn its cost of capital, Chief Executive Officer Juergen Hambrecht’s prerequisite for maintaining dividends, led to BASF’s first cut to payouts in 16 years.
 
In a presentation posted on its website today, BASF confirmed a goal for an operating margin of 18 percent by 2012.

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