BASF Group's earnings before interest and tax excluding special items in the second quarter of 2023 are consistent with analysts' forecasts- Taizhou Huangyan Aoxu Mould Technology Co., Ltd.

BASF Group's earnings before interest and tax excluding special items in the second quarter of 2023 are consistent with analysts' forecasts

16-07-2023

BASF released preliminary data for the second quarter of 2023. Sales in the second quarter of 2023 are expected to decrease by 25% to 17.305 billion euros (22.974 billion euros in the second quarter of 2022), mainly due to a significant decline in prices and sales, as well as the negative impact of monetary factors leading to a decrease in sales. Therefore, sales in the second quarter of 2023 were lower than analysts' average forecast (Vara: 19.355 billion euros).

BASF Group's earnings before interest and tax excluding special items are expected to be 1.007 billion euros, down 57% from the strong performance of the same period last year (Q2 2022: 2.339 billion euros), but in line with the consensus of analysts on Q2 2023 (Vara: 0.118 billion euros). Compared to the same period last year, the contribution of the chemicals and materials business to revenue is particularly weak.

BASF Group expects earnings before interest and tax in the second quarter of 2023 to be 974 million euros, lower than the same period last year (the second quarter of 2022: 2.35 billion euros), and basically in line with the consensus of analysts (Vara: 1.03 billion euros).

Net income is expected to reach 499 million euros, lower than the same period last year (Q2 2022: 2.09 billion euros) and analysts' average forecast for Q2 2023 (Vara: 729 million euros).