BASF Q1 FY20 sales rise 7% to €16.7 billion

BASF SE, a chemical company, posted 7 per cent increase in its sales to €16.7 billion in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €15.5 billion in same period prior year. However, net income for the quarter fell 37 per cent to €885 million compared to €1.4 billion. Income from operations (EBIT) fell 18 per cent to €1.4 billion. 

 

BASF SE, a chemical company, posted 7 per cent increase in its sales to €16.7 billion in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €15.5 billion in same period prior year. However, net income for the quarter fell 37 per cent to €885 million compared to €1.4 billion. Income from operations (EBIT) fell 18 per cent to €1.4 billion.#

“The first quarter of 2020 was not a normal quarter. The same will be true for the second quarter and likely for the entire year,” Martin Brudermüller, chairman of the board of executive directors of BASF SE, said in a press release. “The coronavirus has turned the world upside down.” 

 

BASF SE, a chemical company, posted 7 per cent increase in its sales to €16.7 billion in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €15.5 billion in same period prior year. However, net income for the quarter fell 37 per cent to €885 million compared to €1.4 billion. Income from operations (EBIT) fell 18 per cent to €1.4 billion.#

The performance in the quarter was reportedly driven by higher volumes, especially in the surface technologies and agricultural solutions segments and in other. 

 

BASF SE, a chemical company, posted 7 per cent increase in its sales to €16.7 billion in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €15.5 billion in same period prior year. However, net income for the quarter fell 37 per cent to €885 million compared to €1.4 billion. Income from operations (EBIT) fell 18 per cent to €1.4 billion.#

Compared with the prior-year quarter, EBIT before special items in the Chemicals and Materials segments declined to €383 million. In the Industrial Solutions segment, EBIT before special items grew 3 per cent to €273 million. The Surface Technologies segment increased EBIT before special items 46 per cent in the first quarter to €220 million. In the Nutrition & Care segment, EBIT before special items jumped 14 per cent to €254 million. The Agricultural Solutions EBIT before special items increased 9 per cent in to €809 million.

 

BASF SE, a chemical company, posted 7 per cent increase in its sales to €16.7 billion in first quarter (Q1) FY20 ended on March 31, 2020 compared to sales of €15.5 billion in same period prior year. However, net income for the quarter fell 37 per cent to €885 million compared to €1.4 billion. Income from operations (EBIT) fell 18 per cent to €1.4 billion.#

“BASF’s diversified portfolio offers advantages, especially in difficult times,” Brudermüller said. “Not all of our customer industries are equally affected by the pandemic. They show different degrees of resilience in this environment. For example, pharma, detergents and cleaners, or food. At the moment, they are even experiencing additional demand.”