BASF Swung to 2Q Profit; Confirms Sales, Outlook
July 28 2021 - 2:02AM
Dow Jones News
By Cecilia Butini
BASF SE said Wednesday that it swung to profit for the second
quarter and confirmed sales figures and a raised outlook it
provided during preliminary results.
The German chemicals company posted net profit of 1.65 billion
euros ($1.95 billion) for the second quarter, from a loss of EUR878
million in the same period a year earlier.
Earnings before interest, taxes, depreciation and amortization
rose to EUR3.20 billion from EUR1.07 billion the previous year,
BASF said.
It confirmed that earnings before interest and taxes before
special items for the second quarter amounted to EUR2.36 billion as
it had reported in preliminary results on July 9, which compares
with EUR226 million in 2020. BASF also confirmed sales of EUR19.75
billion for the period, up from EUR12.68 billion the year
before.
Sales growth was attributable to higher prices and volumes in
all segments, the company confirmed.
BASF confirmed the raised 2021 outlook it gave on July 9,
guiding for sales growth to between EUR74 billion and EUR77
billion, up from a previous forecast of between EUR68 billion and
EUR71 billion.
It also confirmed that EBIT before special items is expected
between EUR7 billion and EUR7.5 billion, rather than between EUR5
billion to EUR5.8 billion.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
July 28, 2021 01:48 ET (05:48 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
BASF (TG:BAS)
Historical Stock Chart
From Aug 2024 to Sep 2024
BASF (TG:BAS)
Historical Stock Chart
From Sep 2023 to Sep 2024