Issue 14/2019 - BASF lowers full-year revenue and profit forecasts

BASF lowers full-year revenue and profit forecasts July 8, BASF said that EBIT before special items in the second quarter of 2019 was significantly lower than expected, and will lower its full-year 2019 revenue and profit forecasts

.

BASF said sales in the second quarter of 2019 fell by 4 percent year-on-year to €15.
2 billion.
EBIT before special items is expected to be €1 billion, down 47 percent
year-on-year, due to significantly lower earnings in the Materials, Chemicals and Agricultural Solutions segments.

BASF expects EBIT before special items to be 30 percent lower than expected in 2019 due to significantly lower-than-expected business developments in the second quarter of 2019, as well as slowing global growth and slowing industrial production.
Sales are expected to decline
slightly year-on-year.
BASF is progressing a number of initiatives related to its corporate strategy, in particular portfolio management and cost optimization
.