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MarketScreener Homepage  >  Equities  >  Xetra  >  BASF SE    BAS   DE000BASF111

BASF SE

(BAS)
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BASF : says dividends, asset values under review as pandemic bites

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07/29/2020 | 04:48am EDT
FILE PHOTO: The chemical company BASF building in Levallois-Perret is seen at sunset

Germany's BASF said on Wednesday its dividend policy and the value of assets on its balance sheet might be revised given uncertainty caused by the coronavirus crisis, particularly in North America and Europe.

The policy of the world's largest chemicals and plastics maker by sales to increase dividends each year and its longer term target of lifting adjusted core earnings by 3%-5% annually were under review, Chief Executive Martin Brudermueller said.

More write downs, similar to the 800 million euro (724.6 million pounds) impairment German energy group Wintershall DEA unveiled this month, could also be on the cards for BASF in the next two quarters, finance chief Hans-Ulrich Engel warned.

"There is a considerable risk that both the economic recovery and the medium to long-term overall business development will be slower than what we saw before the corona-pandemic," the chief executive told a call with reporters.

BASF, which is cutting 6,000 jobs, said it could not predict 2020 sales and earnings due to the economic uncertainty, after it released detailed second-quarter results earlier this month.

BASF limited predictions to saying operating profit before special items in the third quarter would not improve significantly in the second quarter, citing the usual summer lull and seasonally lower demand for agricultural products.

BASF reported second-quarter operating profit before one-off items fell 77% to 226 million euros.

The auto industry, BASF's largest customer group, saw a collapse in demand in April to June, while ingredients for household products provided some stability, the company said.

Chemical production, used by BASF as a demand gauge, was in "a V-shaped recovery" in China, where the auto market returned to 10% growth in the second quarter, but prospects for North America and Europe remained uncertain, it said.

(Editing by Jon Boyle and Edmund Blair)

By Ludwig Burger


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Sales 2020 57 198 M 66 909 M 66 909 M
Net income 2020 -1 940 M -2 270 M -2 270 M
Net Debt 2020 14 420 M 16 868 M 16 868 M
P/E ratio 2020 -25,2x
Yield 2020 6,55%
Capitalization 42 824 M 49 935 M 50 094 M
EV / Sales 2020 1,00x
EV / Sales 2021 0,98x
Nbr of Employees 117 922
Free-Float 100%
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Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 56,57 €
Last Close Price 46,63 €
Spread / Highest target 45,8%
Spread / Average Target 21,3%
Spread / Lowest Target -25,1%
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Managers
NameTitle
Martin Brudermüller Chairman-Executive Board & CTO
Kurt Wilhelm Bock Chairman-Supervisory Board
Hans-Ulrich Engel CFO & Vice Chairman-Executive Board
Franz Fehrenbach Independent Member-Supervisory Board
Denise Schellemans Independent Member-Supervisory Board
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