German chemical firm BASF posts sales of €19.7 bn in July-Sep quarter

German chemical firm BASF has reported a 42 per cent sales jump to €19.7 billion in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €13.8 billion in the same period of last year. Income from operations (EBIT) for the three-month period shot up to €1.8 billion over the loss of €0.6 billion in the Q3 FY20.

 

German chemical firm BASF has reported a 42 per cent sales jump to €19.7 billion in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €13.8 billion in the same period of last year. Income from operations (EBIT) for the three-month period shot up to €1.8 billion over the loss of €0.6 billion in the Q3 FY20.#

“Compared with the third quarter of the previous year, we increased prices by 36 percent and volumes by 6 percent,” Dr Martin Brudermüller, chairman of the board of executive directors of BASF SE, said in a press release.

 

German chemical firm BASF has reported a 42 per cent sales jump to €19.7 billion in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €13.8 billion in the same period of last year. Income from operations (EBIT) for the three-month period shot up to €1.8 billion over the loss of €0.6 billion in the Q3 FY20.#

The company’s sales from chemicals segment more than doubled to €3.7 billion (€1.8 billion), attributable to considerable growth in volumes due to strong demand. Materials segment sales surged by 50 per cent to €3.9 billion (€2.6 billion), while industrial solutions sales advanced 20 per cent to €2.2 billion (€1.8 billion).

 

German chemical firm BASF has reported a 42 per cent sales jump to €19.7 billion in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €13.8 billion in the same period of last year. Income from operations (EBIT) for the three-month period shot up to €1.8 billion over the loss of €0.6 billion in the Q3 FY20.#

“With strong earnings contributions from the chemicals and materials segments, the earnings mix in the third quarter of 2021 was comparable with the second quarter of 2021,” said Brudermuller.

 

German chemical firm BASF has reported a 42 per cent sales jump to €19.7 billion in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €13.8 billion in the same period of last year. Income from operations (EBIT) for the three-month period shot up to €1.8 billion over the loss of €0.6 billion in the Q3 FY20.#

By region, sales from Europe grew 40 per cent to €7.6 billion with higher demand in chemicals and materials segment. North America and Asia Pacific too registered considerable sales hike by 53 per cent (€5.3 billion) and 40 per cent (€5.2 billion) respectively. Moreover, South America, Africa, Middle East achieved sales of €1.5 billion, up 28 per cent over Q3 FY20.

 

German chemical firm BASF has reported a 42 per cent sales jump to €19.7 billion in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €13.8 billion in the same period of last year. Income from operations (EBIT) for the three-month period shot up to €1.8 billion over the loss of €0.6 billion in the Q3 FY20.#

EBITDA during the third quarter totalled to €2.7 billion (€1.0 billion), while net income rose to €1.2 billion compared to loss of €2.1 billion in the last year.

 

German chemical firm BASF has reported a 42 per cent sales jump to €19.7 billion in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €13.8 billion in the same period of last year. Income from operations (EBIT) for the three-month period shot up to €1.8 billion over the loss of €0.6 billion in the Q3 FY20.#

“Our downstream businesses are still confronted with further rising raw material, energy and freight costs. Price increases in most downstream businesses could only partially offset these higher costs,” Brudermuller added in the release.

 

German chemical firm BASF has reported a 42 per cent sales jump to €19.7 billion in the third quarter (Q3) of FY21 ended on September 30, 2021, compared to the sales of €13.8 billion in the same period of last year. Income from operations (EBIT) for the three-month period shot up to €1.8 billion over the loss of €0.6 billion in the Q3 FY20.#

Based on the company’s sustained business performance and the anticipated continuation of solid demand, especially in chemicals and materials segments, BASF has raised its outlook and now expects sales to be between €76 billion - €78 billion in FY21 from their previous expectations between €74 billion - €77 billion. EBIT is expected to be between €7.5 billion - €8.0 billion (previous: €7.0 billion - €7.5 billion).