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Issue 24/2018 - BASF revises its outlook for fiscal year 2018

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

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BASF adjusts its outlook
for the 2018 fiscal year on December 7, based on the profit data for November 2018, BASF expects that the company's EBIT before special items in 2018 will fall significantly by 15%~20% compared with last year, compared with the previous data expected a slight decline of less than 10% compared with last year; Sales are expected to increase
slightly by less than 5%.
The significant decline in profit was mainly due to the sharp decline in the price of isocyanate, in the chemicals business, in particular, and the significantly lower than expected profit of the cracker; The decline in the Rhine water level in the fourth quarter is also expected to result in a loss of profit of 200 million euros; In addition, BASF's automotive-related business has continued to decline since the third quarter, especially the demand from customers in China has slowed
significantly.

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