BASF says that it achieved a slight increase in sales and earnings in In the second quarter of 2018. Compared with the second quarter of 2017, sales rose by €518 million to €16.8 billion, driven by higher prices in all segments, particularly in functional materials and solutions and oil and gas.

Sales also increased compared with the first half of 2017, rising by €307 million to €33.4 billion. This was due to higher sales prices, especially in the functional materials and solutions, chemicals and oil and gas segments, as well as volumes growth in all segments except performance products, the company said.

‘Global economic risks increased significantly over the course of the first half of 2018, driven by geopolitical developments and the trade conflicts between the United States and China, as well as between the United States and Europe,’ said BASF CEO Martin Brudermüller. ‘We are monitoring these developments and the potential effects on our business very closely.’

This story is reprinted from material from BASF, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.