BASF Group Q3 Profit Declines, Sales Down 2%; Confirms 2019 Outlook
(RTTNews) - BASF Group (BFA.L, BASFY.PK) reported third-quarter net income of 911 million euros, compared to 1.2 billion euros, a year ago. Earnings per share was 1.00 euros compared to 1.31 euros prior-year. Income from operations (EBIT) before special items of 1.1 billion euros, down 24 percent from a year ago. The company said this was primarily due to significantly lower contributions from the Materials and Chemicals segments. Adjusted earnings per share was 0.86 euros, compared to 1.51 euros. Third-quarter sales declined slightly year on year and amounted to 15.2 billion euros. The company said this was mainly attributable to lower prices in the Materials and Chemicals segments. Sales volumes was at the level of the prior-year quarter mainly due to higher volumes in the Agricultural Solutions and Surface Technologies segments.
Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE, said: "The trade conflict between the United States and China is weighing on our business. Moreover, there are uncertainties related to Brexit."
For fiscal 2019, BASF still expects a slight decline in sales. EBIT before special items is projected to decline up to 30 percent. Return on capital employed for the full year 2019 is expected to decline considerably compared with 2018.
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