Sales of 150 billion!

Recently, BASF released preliminary data for the second quarter of 2021:

● Sales estimated at EUR 19,753 million (Q2 2020: EUR 12,680 million)

● EBIT before special items is expected to be EUR 2,355 million (Q2 2020: EUR 226 million)

● EBIT is expected to be EUR 2,316 million (Q2 2020: EUR 59 million)

Outlook for 2021:

● Sales are expected to be between EUR 74 billion and EUR 77 billion (previously EUR 68 billion to EUR 71 billion) (approximately RMB 591.
6 billion)

● EBIT before special items is expected to be between EUR 7.
0 billion and EUR 7.
5 billion (previously, EUR 5.
0-5.
8 billion)
.

Sales in the second quarter of 2021 increased by 55.
8% compared to the same period last year to 19.
753 billion euros (approximately RMB 151.
774 billion), (2020 second quarter: 12.
680 billion euros)
.
This was mainly due to higher prices (35%) and higher volumes (28%), offset by unfavorable currency factors (-7%)
.
Analysts on average had forecast BASF Group sales of 17.
157 billion euros in the second quarter of 2021
.

In the second quarter of 2021, BASF Group business operations maintained the strong growth momentum since the fourth quarter of 2020
.
EBIT before special items is forecast at EUR 2,355 million, a significant increase from the same period last year (Q2 2020: EUR 226 million), which was mainly affected by the pandemic
.
Analysts on average had forecast a figure of 1.
965 billion euros, significantly lower than the latest preliminary data
.

In the second quarter of 2021, EBIT before special items in the Chemicals, Materials and Industrial Solutions business area significantly exceeded the average analyst forecast; EBIT before special items in the Surface Technology business area was slightly lower Average analyst forecast; EBIT before special items for the two business areas, Agricultural Solutions and Nutrition & Care, was significantly lower than the average analyst forecast
.
EBIT before special items in the "Other" business area was in line with the average analyst forecast
.

The BASF Group’s EBIT in the second quarter of 2021 is expected to be EUR 2,316 million, which is a significant increase from the same period last year (Q2 2020: EUR 59 million), which was affected by the pandemic
.
EBIT for the second quarter of 2021 includes an expected gain of tens of millions of euros from the divestiture of the Pigments business
.
Analysts' previous consensus forecast for EBIT for the second quarter of 2021 was 1.
929 billion euros
.

BASF Group Outlook 2021

Based on the strong business development in the first half of 2021 (sales in the first half of 2021 of EUR 39,153 million; EBIT before special items of EUR 4,676 million), BASF will increase its sales and excluding special items for the full year 2021.
Outlook for EBIT
.
For the full year 2021, the BASF Group expects sales to reach EUR 74 billion to EUR 77 billion (previously: EUR 68 billion to EUR 71 billion; analysts' consensus forecast is EUR 68.
654 billion; EUR 59.
149 billion for the full year 2020)
.
EBIT before special items for 2021 is now forecast at EUR 7.
0-7.
5 billion (previously EUR 5.
0-5.
8 billion; analysts' consensus forecast at EUR 6.
299 billion; full-year 2020 at EUR 3.
560 billion)
.
A substantial increase in expected earnings in the Chemicals and Materials business area is the main reason for the improved 2021 outlook
.

BASF's forecast above assumes that there will be no measures to strictly control economic activity in the second half of 2021 in response to the COVID-19 outbreak
.