Germany's BASF reports nearly 10% drop in profit; trims full-year outlook

German chemicals giant BASF BAS said on Friday that second-quarter operating profit declined 9.7%, in line with market expectations, and the company lowered its full-year outlook, citing economic and geopolitical uncertainties.

In an unscheduled release of preliminary results, the Ludwigshafen-based group said that earnings before interest, tax, depreciation and amortisation (EBITDA), before special items, declined to 1.77 billion euros ($2.07 billion), right in line with consensus posted on the company's website, but lower than the 1.96 billion euros generated a year earlier.

($1 = 0.8549 euros)