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Annual press conference 2018 Wintershall with profit jump

BASF's Wintershall subsidiary has presented significantly improved results for 2017. “Compared with 2016, we have significantly increased our economic performance and improved our profitibility. We are clearly on course for growth,” said CEO Mario Mehren at the company's Annual Press Conference in Kassel. After strong increases in previous years, Mehren expects Wintershall to set a new production record for 2018 by commissioning of new production in the established production regions, and thereby considerably increasing sales and EBIT before special items. In addition, Wintershall now intends to become active in Brazil in the exploration of oil and gas reserves. Furthermore, BASF's and LetterOne's intended merger of Wintershall with DEA Deutsche Erdoel AG will provide further momentum: “This is an exciting prospect because it offers additional perspectives for growth that suit Wintershall.” In 2017, Germany's largest internationally active oil and gas producer increased its income from operations (EBIT) before special items by 53 percent (€276 million) to €793 million (2016: €517 million). This is primarily attributable to the increase in oil and gas prices as well as the higher earnings contribution from our share in the Yuzhno Russkoye natural gas field. Comprehensive measures aimed at optimizing exploration and technology projects as well as the successful implementation of operational cost-saving measures also had a positive effect.

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Wintershall: At a glance Our annual reports

Wintershall Magazine SPECIAL EDITION 2018

Get exclusive insights into Wintershall’s international activities and projects in selected stories from our employee magazine:

  • Maria: Getting off to a dream start
  • Volgodeminoil: Going the extra mile for success
  • Tierra del Fuego: Making progress at the end of the world
  • Mittelplate: Producing oil from Germany’s largest field

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