May 4, 2018 / 5:09 AM / a year ago

BASF Q1 operating profit gains slightly on basic chemicals, oil

LUDWIGSHAFEN, Germany, May 4 (Reuters) - BASF’s quarterly operating profit edged 2 percent higher as gains in basic petrochemicals as well as in the oil and gas unit, which it aims to list separately, were tempered by a strong euro.

First-quarter earnings before interest and tax (EBIT), adjusted for one-offs, came in at 2.51 billion euros ($3.01 billion), the German chemicals maker said on Friday. That was in line with the average analyst estimate in a Reuters poll.

BASF said it was still aiming for an increase of up to 10 percent in group operating profit this year.

$1 = 0.8343 euros Reporting by Ludwig Burger Editing by Maria Sheahan

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