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MarketScreener Homepage  >  Equities  >  Xetra  >  BASF SE    BAS   DE000BASF111

BASF SE

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BASF : 3Q Net Profit Fell

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10/24/2019 | 01:46am EST

By Kim Richters

Germany's BASF SE (BAS.XE) said Thursday that third-quarter net profit and sales fell, particularly due to lower prices in its materials and chemicals businesses.

The company said net profit fell to 911 million euros ($1.01 billion) from EUR1.2 billion a year earlier.

Sales fell 2% to EUR15.23 billion from EUR15.61 billion and earnings before interest and taxes before special items dropped 24% to EUR1.12 billion from EUR1.47 billion, the company said.

While BASF's net profit dropped more than 20%, the chemical maker beat analysts expectations of EUR607 million, according to a consensus forecast provided by the company.

Analysts had the chemical maker's sales at EUR15.17 billion and EBIT before special items at EUR1.05 billion, according to the consensus.

BASF backed its outlook for the year, which the company previously cut, citing U.S.-China trade frictions and sluggish demand in the auto market. It forecasts a slight decline in sales and a drop of up to 30% in EBIT before special items.

The company is in the midst of an overhaul aimed at boosting profitability, which includes reducing its workforce. As of the end of September, around 1,800 positions had been reduced globally, it said.

Write to Kim Richters at kim.richters@wsj.com

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Financials (EUR)
Sales 2019 61 943 M
EBIT 2019 4 723 M
Net income 2019 9 118 M
Debt 2019 18 540 M
Yield 2019 4,79%
P/E ratio 2019 6,79x
P/E ratio 2020 17,4x
EV / Sales2019 1,30x
EV / Sales2020 1,25x
Capitalization 62 264 M
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Mean consensus HOLD
Number of Analysts 26
Average target price 66,44  €
Last Close Price 67,79  €
Spread / Highest target 29,8%
Spread / Average Target -1,99%
Spread / Lowest Target -29,3%
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NameTitle
Martin Brudermüller Chairman-Executive Board & CTO
Jürgen Hambrecht Chairman-Supervisory Board
Hans-Ulrich Engel CFO & Vice Chairman-Executive Board
Michael Diekmann Vice Chairman-Supervisory Board
François Diederich Member-Supervisory Board
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