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BASF Group releases preliminary figures for the first quarter of 2022

 Last Update: 2023-01-30
 Source: Internet
 Author: User

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● Sales are expected to reach EUR 23.
083 billion (Q1 2021: EUR 19.
4 billion), significantly higher than the same period last year and slightly higher than the analyst consensus

● EBIT before special items is expected to reach EUR 2,818 million (Q1 2021: EUR 2,321 million), significantly higher than the same period last year and analyst consensus

● EBIT is expected to reach 2.
785 billion euros (Q1 2021: 2.
311 billion euros), significantly higher than the same period last year and analyst consensus

● Net income is expected to reach EUR 1.
221 billion (Q1 2021: EUR 1.
718 billion), significantly lower than the same period last year and analyst consensus

BASF has released preliminary data for the first quarter of 2022
.
Sales in the first quarter of 2022 increased by 19% to EUR 23.
083 billion (Q1 2021: EUR 19.
4 billion)
.
This was mainly due to higher prices, and a minor role played by currency positivity, mainly driven by the US dollar
.
Sales in the first quarter of 2022 were slightly higher than the average analyst forecast (Vara: 21.
982 billion euros)
.

The BASF Group's business operations performed better than in the first quarter of 2021
.
In the first quarter of 2022, EBIT before special items is expected to be 2.
818 billion euros, an increase of 21% compared to the same period last year (Q1 2021: 2.
321 billion euros) and also significantly higher than analysts’ estimates for 2022.
Average forecast for the first quarter (Vara: EUR 2.
431 billion)
.

In the first quarter of 2022, EBIT before special items in all business areas exceeded analysts' average forecasts; in "Other" business areas, EBIT before special items was significantly lower than analysts' estimates.
Average expectations
.

The BASF Group’s EBIT in the first quarter of 2022 is expected to be EUR 2.
785 billion, which is significantly higher than the same period last year (Q1 2021: EUR 2.
311 billion) and significantly higher than the average analyst forecast for the first quarter of 2022 (Vara: 2.
377 billion euros)
.

Net income of EUR 1.
221 billion was well below the prior-year period (Q1 2021: EUR 1.
718 billion) and also well below the average analyst forecast for the first quarter of 2022 (Vara: EUR 1.
767 billion) ), due to impairment charges recognised by Wintershall Dea, in particular the loan to Nord Stream 2, for which BASF accounted for its shareholding ratio (72.
7%) of approximately EUR 1.
1 billion to its net income
.

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