BASF announces preliminary figures for the 2017 business year

As forecast by BASF, sales, income from operations (EBIT) before special items and EBIT are considerably above the level of the previous year. The earnings figures exceed analyst estimates significantly.

Steamcracker II -

BASF's Sales rose by 12% to € 64.5 billion (2016: € 57.6 billion). EBIT before special items for 2017 is expected to be € 8.3 billion, 32 % above the prior-year figure (2016:  € 6.3 billion). The year-on-year earnings growth is primarily attributable to the strong  earnings increase in the Chemicals segment. Higher volumes and margins in the  Monomers, Petrochemicals and Intermediates divisions are the main contributing  factors. The significant earnings improvements in the Oil & Gas segment and in  Other also contribute to the BASF Group’s considerably higher EBIT before special  items.

EBIT before special items in the Performance Products and Functional  Materials & Solutions segments is below the 2016 levels. This is mainly the result  of increased raw material prices, which could not be fully passed on via sales prices,  and higher fixed costs from the startup of new plants. Due to a strong earnings  increase in the fourth quarter, EBIT before special items in the Agricultural Solutions  segment almost matches the 2016 level.

Figures for the 2017 business year significantly exceed estimates

For the full year 2017, the BASF Group’s EBIT is expected to rise by 36 % to  €8.5 billion (2016: € 6.3 billion). Net income is expected to exceed the prior-year  level by 50 % and reach around € 6.1 billion (2016: € 4.1 billion). The reduction in the  U.S. corporate tax rate from 35% to 21% results in one-time noncash, deferred tax  income of almost € 400 million in the fourth quarter of 2017.

The BASF Group’s key earnings figures for the 2017 business year significantly exceed analyst estimates. On February 27, 2018 BASF will publish the BASF Report 2017.

Hersteller zu diesem Thema

This could also be interesting for you!