Business & Financial News, July 27-2022. BASF, the world’s largest chemical company, again with strong earnings despite continued high prices for raw materials and energy.
- Sales growth of 16.3 percent to €23.0 billion
- EBIT before special items of €2.3 billion on the level of prior-year quarter
- Net income of €2.1 billion up 26.3 percent over prior-year quarter
- Cash flows from operating activities of €1.2 billion below prior-year quarter (Q2 2021: €2.5 billion)
- 2022 outlook for sales raised to between €86 billion and €89 billion and for EBIT before special items to between €6.8 billion and €7.2 billion
“Despite the continued high raw materials and energy prices, we again achieved strong earnings in the second quarter,” said Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE, presenting the results for the second quarter of 2022 together with Chief Financial Officer Dr. Hans-Ulrich Engel. BASF had already released preliminary figures on July 11.
The BASF Group increased sales by €3.2 billion compared with the prior-year quarter to €23.0 billion. This rise of 16.3 percent was primarily due to the significant price increases that BASF was able to introduce in almost all segments.
More here: https://www.basf.com/global/en/media/news-releases/2022/07/p-22-291.html