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Auto Shows BASF is aiming for strong earnings growth in 2021 - Uncertainty remains high

10:10  26 february  2021
10:10  26 february  2021 Source:   de.reuters.com

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Frankfurt (Reuters) - After a significant decline in profits last year, BASF plans to increase significantly again in 2021.

FILE PHOTO: A general view of the German chemical company, BASF Schwarzheide GmbH in Schwarzheide © Reuters / Annegret Hilse FILE PHOTO: A general view of the German chemical company, BASF Schwarzheide GmbH in Schwarzheide

Sales should increase to 61 to 64 billion euros and adjusted operating profit (EBIT) to 4.1 to 5, 0 billion, as the Ludwigshafen chemical company announced on Friday. The global economy is likely to recover from the sharp slump in the wake of the corona pandemic. The uncertainty remains "exceptionally high".

BASF had already published preliminary business figures at the end of January, as the group performed significantly better in the fourth quarter than analysts expected. In 2020, sales of 59.1 billion euros were almost at the previous year's level, while the adjusted operating profit fell by 23 percent to 3.6 billion euros. The shareholders are to receive an unchanged dividend of EUR 3.30 per share.

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usr: 1
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