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Chemical giant BASF Group preliminary figures for the second quarter of 2021
Time: 2021-07-14
BASF has released preliminary data for the second quarter of 2021. Sales in the second quarter of 2021 increased by 55.8% compared to the same period last year to EUR 19,753 million (Q2 2020: EUR 12,680 million). This was mainly due to higher prices (35%) and higher volumes (28%), offset by unfavorable currency factors (-7%). Analysts on average had forecast BASF Group sales of 17.157 billion euros in the second quarter of 2021.
In the second quarter of 2021, BASF Group business operations maintained the strong growth momentum since the fourth quarter of 2020. EBIT before special items is forecast at EUR 2,355 million, a significant increase from the same period last year (Q2 2020: EUR 226 million), which was mainly affected by the pandemic. Analysts on average had forecast a figure of 1.965 billion euros, significantly lower than the latest preliminary data.
In the second quarter of 2021, EBIT before special items in the Chemicals, Materials and Industrial Solutions business area significantly exceeded the average analyst forecast; EBIT before special items in the Surface Technology business area was slightly lower Average Analyst Estimates; EBIT before special items for the Agricultural Solutions and Nutrition & Care business areas were significantly lower than the average analyst forecast. EBIT before special items in the "Other" business area was in line with the average analyst forecast.
The BASF Group’s EBIT in the second quarter of 2021 is expected to be EUR 2,316 million, a significant increase from the same period last year (Q2 2020: EUR 59 million), which was affected by the pandemic. EBIT for the second quarter of 2021 includes an expected gain of tens of millions of euros from the divestiture of the Pigments business. Analysts' previous consensus forecast for EBIT for the second quarter of 2021 was 1.929 billion euros.
Source of information: BASF Group (China) official website
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