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The BASF Group’s earnings before interest and taxes in the second quarter of 2019 are expected to fall by 71% compared with the previous year, to 500 million eur.
BASF Group recently released key data for the second quarter and second quarter of 2019:
Sales in the second quarter of 2019 fell by 4% to EUR 12 billion (Q2 2018: EUR 18 billio.
EBIT before special items in the second quarter is expected to be EUR 1 billion, down 47% from the second quarter of 2018 (Q2 2018: EUR 2 billio.
The decline in EBIT before special items was mainly due to a sharp decline in earnings in the Materials, Chemicals and Agricultural Solutions business areas compared to the same period last ye.
The BASF Group’s earnings before interest and taxes in the second quarter of 2019 are expected to be 71 percent lower than the previous year to EUR 500 million (Q2 2018: EUR 9 billio.
Second-quarter net profit is expected to increase to EUR 5 billion (Q2 2018: EUR 5 billio.
Industrial production was significantly lower than expected, negatively impacting BASF's sales and profits
Industrial production was significantly lower than expected, negatively affecting BASF's sales and profits Industrial production was significantly lower than expected, negatively affecting BASF's sales and profitsBASF said that industrial production in 2019 was significantly lower than expected, which had a negative impact on BASF's sales and profi.
The downturn in growth in the global automotive industry was particularly pronounced: in the first half of 2019, global production fell by
Weak agricultural development in North America created additional pressure: the region's main crops were planted lower than the previous year and below historical averages due to poor weather conditio.
Contrary to what BASF assumed in the 2018 report, the conflict between the United States and its trading partners, especially China, has so far not eas.
In this environment, preliminary figures for the second quarter of 2019 were well below current analyst expectations and what BASF had expected at the beginning of the ye.
As expected, the significant decline in isocyanate prices resulted in a significant year-on-year decline in EBIT before special items in the Materials business segment in the second quarter of 201 The decline in the Chemicals segment was mainly due to planned maintenance of steam crackers in Port Arthur, Texas, and Antwerp, Belgium; in addition, steam cracker product margins, especially in North America, were well below BASF's foreca.
In this challenging global economic environment, EBIT before special items in several other business areas was either significantly higher (Industrial Solutions) or slightly higher (Surface Technology, Nutrition & Car.
6,000 layoffs planned globally
Plan to lay off 6,000 people worldwide Plan to lay off 6,000 people worldwideBASF is progressing in an orderly manner with a number of announced corporate strategy-related measures, in particular product portfolio management and cost optimizati.
Full-year 2019 outlook lowered
2019 full year outlook lowered 2019 full year outlook lowered 2019 full year outlook loweredBASF expects EBIT before special items to be lower than in the same period last year due to a significantly lower-than-expected business development in the second quarter of 2019, as well as the slowdown in global economic growth and industrial production, mainly due to the trade confli.
Sales are expected to decline slightly compared to full-year 2018 (previously, sales were expected to increase slightly by 1-5.
