BASF Q1 Preliminary Net Income Rises, But Sales Down

(RTTNews) - German chemical company BASF (BFA.L, BASFY.PK) reported that its preliminary net income for the first-quarter 2023 was 1.56 billion euros, up from 1.22 billion euros in the previous year. In the prior-year quarter, impairments on the participation in Wintershall Dea had burdened net income of BASF Group.

But EBIT before special items of BASF Group amounted to an expected 1.93 billion euros in the first quarter of 2023, a decline of 31.5% compared with the prior-year quarter.

Quarterly Sales declined 13.4% year-over-year to 19.99 billion euros, hurt by lower volumes.

BASF said it will publish its first-quarter 2023 results on April 27, 2023.

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