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MarketScreener Homepage  >  Equities  >  Xetra  >  BASF SE    BAS   DE000BASF111

BASF SE

(BAS)
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BASF : Earnings Slump Continues -- Earnings Review

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10/24/2019 | 10:33am EST

By Kim Richters

Chemical company BASF SE (BAS.XE) reported results for its third quarter today. Here's what you need to know:

SALES: Revenue for the quarter fell 2% to EUR15.23 billion from EUR15.61 billion. BASF beat an analyst consensus forecast provided by the company of EUR15.17 billion.

NET PROFIT: Net profit fell to EUR911 million from EUR1.2 billion for the same year-earlier period. The consensus forecast stood at EUR607 million.

EBIT BEFORE SPECIAL ITEMS: EBIT before special items fell 24% to EUR1.12 billion from EUR1.47 billion. Here, BASF beat consensus figures by 6%, which was partly thanks to a one-off gain from a land sale in Switzerland, Baader Helvea says.

WHAT WE WATCHED:

-GUIDANCE: BASF backed its 2019 outlook, which it downgraded earlier this year. It forecasted a slight decline in sales and a drop of up to 30% in EBIT before special items.

DZ Bank expects a revenue decline of 2% and a drop in EBIT before special items of 29% for the year. "The global economy remains weak, especially in Europe and the automotive sector," the bank says.

-MARGIN RECOVERY: BASF's Materials and Chemicals divisions performed weakly, with sales falling 13% and 22% respectively compared with the year-earlier period. Its Agriculture Solutions and Surface Technologies businesses performed significantly stronger than expected, Baader Helvea says.

BASF's first two quarters already saw earnings slump, NordLB says, adding that this continued in the third quarter as well.

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

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Financials (EUR)
Sales 2019 61 912 M
EBIT 2019 4 694 M
Net income 2019 9 118 M
Debt 2019 18 545 M
Yield 2019 4,77%
P/E ratio 2019 6,82x
P/E ratio 2020 17,5x
EV / Sales2019 1,31x
EV / Sales2020 1,26x
Capitalization 62 539 M
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Mean consensus HOLD
Number of Analysts 25
Average target price 66,56  €
Last Close Price 68,09  €
Spread / Highest target 29,2%
Spread / Average Target -2,25%
Spread / Lowest Target -29,6%
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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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