According to foreign media reports recently, BASF, the world's largest chemical company, surged to a five-year high in 2017, surpassing analysts' estimates, thanks to the increased demand for plastic products in China and the rising demand for raw materials for automobiles and construction.
BASF announced on November 18 that BASF achieved sales of 64.5 billion euros in 2017, an increase of 12% over the same period of last year. EBIT excluding special items reached 8.3 billion euros (about 10.2 billion U.S. dollars), an increase of 32% over the same period of last year. To 6.1 billion euros (about 7.46 billion US dollars), an increase of 50% .This was originally scheduled for the end of February release date unexpectedly disclosed one month in advance.
Earlier, Bloomberg survey analysts forecast an average pre-tax profit of 7.89 billion euros.After yesterday's share price in Frankfurt rose 3.4%, eventually closing up 2.6% to 96.13 euros per share .Basflex's performance also led Lanxess AG and Evonik Industries AG and other European peers rose.