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    Breaking News

    BASF Group: Operating Result in 2Q 2020 Above Market Expectations

    EBIT before special items expected to be €226 million.

    BASF Group: Operating Result in 2Q 2020 Above Market Expectations
    Coatings World staff07.10.20
    BASF has released preliminary figures on business development in the second quarter of 2020.

    Sales declined by 12.4 percent in the second quarter of 2020 to €12,680 million (Q2 2019: €14,478 million).

    EBIT before special items, which reflects the development of the BASF Group’s operating business in the second quarter of 2020, amounted to an expected €226 million, above market expectations and in the range indicated by BASF, but considerably below the figure for the prior-year quarter (Q2 2019: €995 million).

    The decline in EBIT before special items is the result of significantly lower earnings in the Materials, Surface Technologies, Chemicals and Industrial Solutions segments compared with the prior-year quarter. This was mainly driven by lower demand from the automotive industry – the company’s most important customer industry.

    The BASF Group’s EBIT in the second quarter of 2020 amounted to an expected €59 million, considerably below the figure for the prior-year quarter (Q2 2019: €507 million).

    The BASF Group’s net income is expected to amount to minus €878 million due to a non-cash-effective impairment of the shareholding in Wintershall Dea, considerably below current analyst estimates and the figure for the prior-year quarter (Q2 2019: €5,954 million).

    The impairment of around €800 million is the result of lower oil and gas price forecasts and changed reserve estimates. In the prior-year quarter, net income included a book gain of €5,684 million on the deconsolidation of Wintershall following the merger of Wintershall and DEA as of May 1, 2019.
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      BASF and CATL Sign Agreement to Accelerate the Achievement of Global Carbon Neutrality

      BASF and CATL Sign Agreement to Accelerate the Achievement of Global Carbon Neutrality

      The partnership supports both companies’ commitment to global carbon neutrality and CATL’s localization strategy in Europe.
      09.17.21

    • Additives | Automotive Refinish | Breaking News | Paint & Coatings Manufacturer News
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      09.06.21


    • Breaking News
      BASF, SINOPEC to Expand Verbund Site in Nanjing, China

      BASF, SINOPEC to Expand Verbund Site in Nanjing, China

      The first tert-butyl acrylate plant outside of Germany using BASF technology to meet the growing demand for specialty chemicals in China.
      08.06.21

    • Top Companies Report

      Top Companies Report

      Coatings World is proud to bring the industry our annual Top Companies Report
      Kerry Pianoforte, Editor 07.28.21

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