logo
Plus   Neg
Share
Email

BASF Group Q3 Profit Declines, Sales Down 2%; Confirms 2019 Outlook

BASF Group (BFA.L,BASFY.PK) reported third-quarter net income of 911 million euros, compared to 1.2 billion euros, a year ago. Earnings per share was 1.00 euros compared to 1.31 euros prior-year. Income from operations (EBIT) before special items of 1.1 billion euros, down 24 percent from a year ago. The company said this was primarily due to significantly lower contributions from the Materials and Chemicals segments. Adjusted earnings per share was 0.86 euros, compared to 1.51 euros.

Third-quarter sales declined slightly year on year and amounted to 15.2 billion euros. The company said this was mainly attributable to lower prices in the Materials and Chemicals segments. Sales volumes was at the level of the prior-year quarter mainly due to higher volumes in the Agricultural Solutions and Surface Technologies segments.

Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE, said: "The trade conflict between the United States and China is weighing on our business. Moreover, there are uncertainties related to Brexit."

For fiscal 2019, BASF still expects a slight decline in sales. EBIT before special items is projected to decline up to 30 percent. Return on capital employed for the full year 2019 is expected to decline considerably compared with 2018.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
PCNA has recalled about 5,000 units of Spare 10,000 mAh Power Banks for possible fire and burn hazards, the U.S. Consumer Product Safety Commission said in a statement. These include 445 units sold in Canada. The company said the power bank's lithium-ion battery can overheat and ignite, causing fire and burn hazards. Hundreds of Amazon workers have openly criticized the company's record on climate change by intentionally defying a company-wide ban against speaking out. More than 350 employees of the e-commerce giant criticized the company's climate change policy in a Medium blog post Sunday, putting their jobs at risk for violating the company's corporate communications policy. Loneliness at the workplace is on the rise in America and is resulting in less productivity as well as lower retention levels, a new study showed. According to Cigna's 2020 Loneliness Index, three out of five adults, or 61 percent, consider themselves lonely. This represents a seven percentage point increase from 2018. The study surveyed more than 10,400 adults.
RELATED NEWS
Follow RTT
>