BASF 4Q Net Profit Soars, Releases 2021 Outlook
By Joshua Stein
BASF SE said Friday its net profit increased in the fourth
quarter, and released its outlook for 2021.
The German chemical conglomerate posted a net profit of 1.06
billion euros ($1.29 billion), compared with a profit of EUR150
million a year earlier. The company confirmed preliminarily figures
for sales, earnings before interest and taxes, and EBIT before
BASF said it expects sales to grow to between EUR61 billion and
EUR64 billion in 2021, compared with EUR59.15 billion for 2020.
BASF expects EBIT before special items of between EUR4.1 billion
and EUR5.0 billion this year, compared with EUR3.56 billion in the
The company proposed a dividend of EUR3.30, equivalent to the
The company confirmed its quarterly sales increased to EUR15.91
billion from EUR14.69 billion a year prior.
BASF's EBIT before special items came in at EUR1.11 billion in
the quarter, as expected, up from EU842 million. The company said
the increase was primarily due to significantly higher earnings in
the materials, chemicals and industrial solutions segments.
Analysts had expected a quarterly net profit of EUR710 million,
EBIT before special items of EUR1.03 billion and sales of EUR15.33
billion, according to a consensus provided by Vara Research.
Write to Joshua Stein at firstname.lastname@example.org
(END) Dow Jones Newswires
February 26, 2021 02:34 ET (07:34 GMT)
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