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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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