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Issue 20, 2020 - BASF announces its third-quarter results

 Last Update: 2022-11-12
 Source: Internet
 Author: User

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BASF announces its third-quarter results

On October 9, BASF released preliminary data for the third quarter of 2020 and its full-year forecast: sales in the third quarter fell by 5% to €13,812 million, and net income was minus €2,121 million
.

BASF said sales fell by 5 percent to €13,812 million in the third quarter, compared to €
14,556 million in the same period of 2019, due to unfavorable currency effects.

BASF believes that the third quarter of 2020 was better than expected
.
EBIT before special items amounted to €581 million, above analysts' consensus forecast, but still below €1,056 million
in the prior-year quarter.
EBIT before special items increased by €355 million in the third quarter of 2020 compared to the second quarter of 2020 and €226 million
in the second quarter of 2020.

EBIT before special items of the BASF Group decreased year-on-year, mainly due to weaker
earnings due to continued margin pressure in the Upstream Chemicals & Materials segment.
Nutrition & Care, Agricultural Solutions, Industrial Solutions and other business areas also earned less than in the prior-year quarter
.

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