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BASF Group releases preliminary figures for first quarter of 2022

  • Sales expected to be €23,083 million (Q1 2021: €19,400 million), considerably above the prior-year quarter and slightly above analyst consensus
  • EBIT before special items expected to be €2,818 million (Q1 2021: €2,321 million), considerably above the prior-year quarter and considerably above analyst consensus
  • EBIT expected to be €2,785 million (Q1 2021: €2,311 million), considerably above the prior-year quarter and considerably above analyst consensus
  • Net income expected to be €1,221 million (Q1 2021: €1,718 million), considerably below the prior-year quarter and considerably below analyst consensus

BASF has released preliminary figures for the first quarter of 2022. Sales increased by 19 percent in the first quarter of 2022 to €23,083 million (Q1 2021: €19,400 million). This was mainly driven by higher prices; currency effects, mainly relating to the U.S. dollar, had a slightly positive effect. Sales thus slightly exceeded average analyst estimates for the first quarter of 2022 (Vara: €21,982 million).

The BASF Group’s operating business performed better than in the first quarter of 2021. In the first quarter of 2022, EBIT before special items amounted to an expected €2,818 million, an increase of 21 percent compared with the prior-year quarter (Q1 2021: €2,321 million) and thus also considerably above the analyst consensus for the first quarter of 2022 (Vara: €2,431 million).

All segments exceeded average analyst estimates for EBIT before special items in the first quarter of 2022. In Other, EBIT before special items was considerably lower than expected by analysts on average.

The BASF Group’s EBIT amounted to an expected €2,785 million in the first quarter of 2022, considerably above the figure for the prior-year quarter (Q1 2021: €2,311 million) and considerably above the analyst consensus for the first quarter of 2022 (Vara: €2,377 million).

Net income reached €1,221 million, considerably below the figure for the prior-year quarter (Q1 2021: €1,718 million) and considerably below average analyst estimates for the first quarter of 2022 (Vara: €1,767 million). This is due to impairment charges recognized by Wintershall Dea, particularly for loans to Nord Stream 2 AG, which BASF included in its net income from shareholdings on a proportional basis (72.7%) with around €1.1 billion.

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Source: BASF

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