Preliminary figures: BASF stock closes stable: BASF may increase sales more than expected | news

At the beginning of the year, the business of the world’s largest chemical group, BASF, developed much better than expected. In the first quarter, operating profit before interest, taxes and special items (EBIT) increased according to preliminary figures compared to the same period last year by around a fifth to around 2.8 billion euros, as the company announced. which is listed on DAX on Monday in Ludwigshafen. According to BASF, this significantly exceeded analyst expectations.

January-March revenues were also above average expectations. The company increased sales in the first quarter by almost a fifth to around 23 billion euros.

However, after taxes and minority stakes, BASF fell short of expectations: moreover, profit was expected to be €1.2bn, down from the same quarter a year earlier. This was due to Wintershall DEA impairments: loans to Nord Stream 2 AG were impaired by around €1.1 billion. The company aims to present the full set of first quarter figures on April 29.

BASF briefly at the top after surprising quarterly numbers

Unexpectedly strong quarterly figures gave BASF shares a significant boost on Monday. As a result of the news, papers across XETRA had turned positive by as much as 2.9 percent and had risen to the top of the declining leading index DAX in the meantime. They later stabilized at a 0.55 percent gain. In the end, trading finished 0.08 percent higher at EUR 51.40. Newspapers had previously posted a loss of nearly 1 percent.

The business of the world’s largest chemical group developed better than expected in the first quarter, as it was unexpectedly announced at the end of trading. According to preliminary figures, earnings before interest, taxes and special effects (EBIT) increased by about a fifth compared to the same period of the previous year, thus exceeding market expectations. In the current year, BASF shares have lost about 15 percent.

LUDWIGSHAFEN (dpa-AFX)

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Image sources: BASF SE

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