BASF 1Q Sales, EBIT Increased; Raises 2021 Outlook
April 29 2021 - 1:48AM
Dow Jones News
By Joshua Kirby
BASF SE said Thursday that sales and earnings rose strongly in
the first quarter, and raised its guidance for the full year as the
global economy is expected to improve.
Sales at the German chemicals company rose 16% on the year to
19.4 billion euros ($23.52 billion), while earnings before interest
and taxes and before special items rose 42% to EUR2.3 billion.
Analysts had expected sales of EUR17.21 billion and adjusted
EBIT of EUR2.3 billion for the period, according to a
FactSet-compiled consensus.
Based on the results and the expected recovery of the global
economy, BASF moderately raised its forecasts for the full year set
out in its 2020 report. The company now sees sales growing to
between EUR68 billion and EUR71 billion, and EBIT before special
items of between EUR5 billion and EUR5.8 billion.
BASF will propose a dividend of EUR3.30 a share for 2020, the
same level as the previous year.
Write to Joshua Kirby at joshua.kirby@dowjones.com;
@joshualeokirby
(END) Dow Jones Newswires
April 29, 2021 01:33 ET (05:33 GMT)
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