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    BAS   DE000BASF111

BASF SE

(BAS)
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BASF Harmed by Weaker US Dollar, Brazilian Real in 1Q -- Currency Comment

04/29/2021 | 11:27am EDT

By Mauro Orru

BASF SE's first-quarter sales rose 16% on year to EUR19.4 billion, but all segments were dampened by currency effects, mostly due to a weaker U.S. dollar and Brazilian real.

The German chemicals company had assumed the euro would average $1.18 against the dollar in the first quarter.

Barring a few days at the end of March, the euro traded above $1.18 for that period and was above $1.20 for most of January and February. Its closing level on March 31 was $1.1731, according to FactSet.

"Currency effects of minus 6 percent were mainly related to the devaluation of the U.S. dollar as well as the Brazilian real," a BASF spokesman tells Dow Jones, adding these were most pronounced in the Surface Technologies and in Agricultural Solutions segments.

Sales in the Agricultural Solutions segment rose 1% to EUR2.8 billion as volumes were above the prior-year quarter in all regions and higher price levels also had a positive effect, but negative currency effects had an offsetting impact, mainly due to the Brazilian real, the spokesman said.

Sales in the Nutrition & Care segment were down 3% on year, mostly due to the U.S. dollar.

The company declined to give a figure for its first-quarter assumption on the Brazilian real, which has lost more than 2% against the euro since the start of the year, according to FactSet.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

04-29-21 1126ET

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Financials
Sales 2021 67 816 M 82 455 M 82 455 M
Net income 2021 3 716 M 4 519 M 4 519 M
Net Debt 2021 14 562 M 17 706 M 17 706 M
P/E ratio 2021 15,9x
Yield 2021 4,83%
Capitalization 64 643 M 78 564 M 78 596 M
EV / Sales 2021 1,17x
EV / Sales 2022 1,18x
Nbr of Employees 110 261
Free-Float 100%
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 77,15 €
Last Close Price 70,38 €
Spread / Highest target 50,6%
Spread / Average Target 9,62%
Spread / Lowest Target -17,6%
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Managers and Directors
NameTitle
Martin Brudermüller Chairman-Executive Board
Hans-Ulrich Engel Chief Financial & Digital Officer
Kurt Wilhelm Bock Chairman-Supervisory Board
Melanie Maas-Brunner Chief Technology Officer
Anke Schäferkordt Independent Member-Supervisory Board
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