BASF 2Q Net Profit, Sales Rose Despite Small Drop in Volumes
July 11 2022 - 11:27AM
Dow Jones News
By Cristina Roca
BASF SE said Monday that its second-quarter earnings and sales
rose, beating analyst views even though sales volumes fell
slightly.
The German chemical company made a quarterly net profit of 2.09
billion euros ($2.13 billion), up from EUR1.65 billion a year
earlier, according to preliminary figures.
The increase mainly came from higher income from BASF's stake in
Wintershall Dea, it said.
Earnings before interest and taxes were EUR2.35 billion,
compared with EUR2.32 billion a year prior.
Sales rose 16% to EUR22.97 billion, helped by higher prices.
Volumes fell slightly compared with the prior-year period.
Analysts had expected BASF to post a net profit of EUR1.41
billion on sales of EUR21.34 billion, the company said, citing a
consensus estimate provided by Vara.
BASF kept its guidance unchanged.
Write to Cristina Roca at cristina.roca@wsj.com
(END) Dow Jones Newswires
July 11, 2022 12:12 ET (16:12 GMT)
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