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MarketScreener Homepage  >  Equities  >  Moscow Micex - RTS  >  Mining and Metallurgical Company Norilsk Nickel    GMKN   RU0007288411

MINING AND METALLURGICAL COMPANY NORILSK NICKEL

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BASF's next battery chemical investment likely in Germany - CEO in Manager Magazin

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10/24/2019 | 08:48am EDT
FILE PHOTO: The chemical company BASF building in Levallois-Perret is seen at sunset

FRANKFURT (Reuters) - Germany's BASF will likely pick Germany as the site for its next plant to produce chemicals for batteries used in electric cars, the group's CEO told Manager Magazin.

BASF is building a factory to make cathode materials for batteries in Harjavalta, Finland, close to a nickel and cobalt refinery of raw materials partner Norilsk Nickel.

This is part of a larger 400 million euro (£345 million) investment plan to serve the European market for batteries that go into electric and hybrid vehicles.

BASF has said it was assessing several European locations for follow-up investments, including Schwarzheide in eastern Germany, under that plan.

"We will likely erect the second production step in the value chain ... in Germany, but this decision has not been taken yet," Chief Executive Martin Brudermueller told the monthly magazine in an interview published on Thursday.

He also said that BASF expects the overall market for cathode materials to be worth between 25 billion euros and 30 billion by 2025.

BASF is competing with Europe's Umicore and Johnson Matthey as well as with a range of Chinese suppliers including Beijing Easpring and Ningbo Shanshan.

Earlier on Thursday, Brudermueller said on a conference call on third-quarter earnings that the company would publish further details on its battery chemical investment plans in Europe later this year or early 2020.

(Reporting by Ludwig Burger; Editing by David Holmes)


Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. -2.99% 21.12 Delayed Quote.295.82%
BASF SE -0.73% 53.21 Delayed Quote.-20.42%
BEIJING EASPRING MATERIAL TECHNOLOGY CO.,LTD. -0.16% 51.39 End-of-day quote.88.24%
JOHNSON MATTHEY PLC -1.85% 2381 Delayed Quote.-19.03%
JUST GROUP PLC 1.74% 44.48 Delayed Quote.-44.66%
MINING AND METALLURGICAL COMPANY NORILSK NICKEL 1.40% 19940 End-of-day quote.4.39%
NINGBO SHANSHAN CO.,LTD. -0.28% 10.87 End-of-day quote.16.67%
THE EASTERN COMPANY -4.25% 21.2 Delayed Quote.-30.56%
UMICORE -2.40% 36.19 Delayed Quote.-14.48%
WILL GROUP, INC. 2.10% 877 End-of-day quote.-29.95%
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Financials (USD)
Sales 2020 14 965 M - -
Net income 2020 4 711 M - -
Net Debt 2020 6 925 M - -
P/E ratio 2020 8,63x
Yield 2020 10,7%
Capitalization 40 796 M 40 796 M -
EV / Sales 2020 3,19x
EV / Sales 2021 3,13x
Nbr of Employees -
Free-Float 37,6%
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Technical analysis trends MINING AND METALLURGICAL COMPANY NORILSK NICKEL
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 31,96 $
Last Close Price 25,78 $
Spread / Highest target 59,0%
Spread / Average Target 24,0%
Spread / Lowest Target -14,7%
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Managers
NameTitle
Vladimir Olegovich Potanin President & Chairman-Management Board
Gareth Peter Herbert Penny Independent Non-Executive Chairman
Sergey Nikolaevich Dyachenko Chief Operating Officer & First Vice President
Sergey Gennadyevich Malyshev Chief Financial Officer & Senior Vice President
Sergei Leonidovich Batekhin Deputy Chairman