BASF Group releases preliminary figures for first quarter of 2022

 

  • Sales expected to be EUR 23083 million (Q1 2021: EUR 19400 million), considerably above the prior-year quarter and slightly above analyst consensus
  • EBIT before special items expected to be EUR 2818 million (Q1 2021: EUR2321 million), considerably above the prior-year quarter and considerably above analyst consensus
  • EBIT expected to be EUR2785 million (Q1 2021: EUR2311 million), considerably above the prior-year quarter and considerably above analyst consensus
  • Net income expected to be EUR 1221 million (Q1 2021: EUR 1718 million), considerably below the prior-year quarter and considerably below analyst consensus

BASF has released preliminary figures for the first quarter of 2022. Sales increased by 19 percent in the first quarter of 2022 to EUR 23083 million (Q1 2021: EUR 19400 million). This was mainly driven by higher prices; currency effects, mainly relating to the U.S. dollar, had a slightly positive effect. Sales thus slightly exceeded average analyst estimates for the first quarter of 2022 (Vara: EUR 21982 million).

The BASF Group’s operating business performed better than in the first quarter of 2021. In the first quarter of 2022, EBIT before special items amounted to an expected EUR 2818 million, an increase of 21 percent compared with the prior-year quarter (Q1 2021: EUR 2321 million) and thus also considerably above the analyst consensus for the first quarter of 2022 (Vara: EUR 2431 million).

All segments exceeded average analyst estimates for EBIT before special items in the first quarter of 2022. In Other, EBIT before special items was considerably lower than expected by analysts on average.

The BASF Group’s EBIT amounted to an expected EUR 2785 million in the first quarter of 2022, considerably above the figure for the prior-year quarter (Q1 2021: EUR 2311 million) and considerably above the analyst consensus for the first quarter of 2022 (Vara: EUR 2377 million).

Net income reached EUR 1221 million, considerably below the figure for the prior-year quarter (Q1 2021: EUR1718 million) and considerably below average analyst estimates for the first quarter of 2022 (Vara: EUR 1767 million). This is due to impairment charges recognised by Wintershall Dea, particularly for loans to Nord Stream 2 AG, which BASF included in its net income from shareholdings on a proportional basis (72.7 %) with around EUR1.1 billion.

Further information

The overview of analyst estimates, which is compiled monthly by Vara Research on behalf of BASF, can be found at: www.basf.com/analysts-estimates.

BASF will publish the Quarterly Statement Q1 2022 on Friday, April 29, 2022, at 7:00 a.m

At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. Around 111000 employees in the BASF Group contribute to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio comprises six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of EUR 78.6 billion in 2021. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the United States. Further information at www.basf.com