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BASF SE: BASF Group releases preliminary figures for full year 2022

BASF SE / Key word(s): Annual Results
BASF SE: BASF Group releases preliminary figures for full year 2022

17-Jan-2023 / 18:50 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

BASF Group releases preliminary figures for full year 2022

  • Expected sales of €87,327 million and expected EBIT before special items of €6,878 million at the level of average analyst estimates

  • EBIT expected to be €6,548 million, below analyst consensus due to non-cash-effective impairments

  • Net income expected to be –€1,376 million due to non-cash-effective impairments on the shareholding in Wintershall Dea, below analyst consensus

 

Ludwigshafen – January 17, 2023 – BASF has released preliminary figures for the full year 2022. Expected sales of €87,327 million and expected income from operations (EBIT) before special items of €6,878 million are in line with the ranges forecast by BASF and at the level of average analyst estimates for 2022.

The BASF Group’s EBIT amounted to an expected €6,548 million in 2022, below the figure for the prior year (2021: €7,677 million) and below analyst consensus for 2022 (Vara: €6,836 million). This includes non-cash-effective impairments on a plant in the Chemicals segment.

Net income of BASF Group is expected to amount to –€1,376 million in 2022. This is considerably below the prior-year figure (2021: €5,523 million) and the average analyst estimates for 2022 (Vara: €4,768 million). Net income contains non-cash-effective impairments on the shareholding in Wintershall Dea AG in the amount of about €7.3 billion, of which €5.4 billion in Q4 2022. These impairments result in particular from the deconsolidation of the Russian exploration and production activities of Wintershall Dea due to the extensive loss of actual influence and economic expropriation. Wintershall Dea intends to fully exit Russia in an orderly manner complying with all applicable legal obligations. Accordingly, the Russian participations of Wintershall Dea have been re-evaluated and write-downs on the European gas transportation business have been made, including a complete write-down on the participation in Nord Stream AG.

Sales rose by 11 percent in 2022 to an expected €87,327 million (2021: €78,598 million) and were thus in line with the €86 billion to €89 billion range forecast by BASF. The average analyst estimates for sales 2022 of the BASF Group were €87,950 million according to Vara. The increase in sales was mainly driven by higher prices and positive currency effects. Volumes reduced sales.

EBIT before special items amounted to an expected €6,878 million, a decrease of €890 million compared with the prior year (2021: €7,768 million) and in line with the €6.8 billion to €7.2 billion range forecast by BASF. On average analysts had expected EBIT before special items of €6,949 million in 2022 according to Vara.

The average analyst estimates for EBIT before special items of the segments were exceeded in 2022 by Agricultural Solutions and Surface Technologies. EBIT before special items of Materials and Industrial Solutions almost matched average analyst estimates. EBIT before special items fell short of average analyst estimates in the Nutrition & Care and Chemicals segments. In Other, EBIT before special items was better than expected by analysts on average.

 

Further information

The overview of analyst estimates, which is compiled monthly on behalf of BASF, can be found at: www.basf.com/analysts-estimates.

On Friday, February 24, 2023, at 7:00 a.m. CET, the company will publish the BASF Report 2022 and will comment on the figures at the virtual conference for analysts and investors (from 8:00 a.m. to 10:00 a.m. CET) and the press conference for journalists (from 10:30 a.m. to 12:30 a.m. CET).

 

Contact
Dr. Stefanie Wettberg
Investor Relations
+49 621-60-48002
stefanie.wettberg@basf.com

 

Jens Fey
Corporate Media Relations
+49 621-60-99123
jens.fey@basf.com

17-Jan-2023 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

BASF SE

Carl-Bosch-Straße 38

67056 Ludwigshafen

Germany

Phone:

+49 (0)621 60-0

Fax:

+49 (0)621 60-4 25 25

E-mail:

info.service@basf.com

Internet:

www.basf.com

ISIN:

DE000BASF111, DE000A0JRFB0, Börse Dublin, Frankfurter Wertpapierbörse, DE000A0JRFA2, Börse Dublin, Frankfurter Wertpapierbörse, DE000A0JQF26, Börse Dublin, Frankfurter Wertpapierbörse, DE000A0EUB86, Frankfurter Wertpapierbörse, DE0008846718, Frankfurter Wertpapierbörse, DE000A0XFK16, Börse Luxemburg, Frankfurter Wertpapierbörse, XS0420401779, Börse Luxemburg, XS0412154378, Börse Luxemburg, Frankfurter Börse, DE000A0T4DU7,Börse Luxemburg, Frankfurter Börse, CH0039943292, Swiss Exchange (SWX), CH0039943383, Swiss Exchange (SWX), DE000A0TKBM, Börse Luxemburg, Frankfurter Börse, XS0414672070, Börse Luxemburg, ,

WKN:

BASF11, WKN A0JRFB, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0JRFA, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0JQF2, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0EUB8, Frankfurter Wertpapierbörse, , WKN 884671, Frankfurter Wertpapierbörse, , WKN A0XFK1, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0XFHJ, Börse Luxemburg, , WKN A0T6EG, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0T4DU, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN 3994329, Swiss Exchange (SWX), , WKN 3994338, Swiss Exchange (SWX), , WKN A0TKBM, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0T65R, Börse Luxemburg,

Indices:

DAX, EURO STOXX 50

Listed:

Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange; London, SIX

EQS News ID:

1537313


 

End of Announcement

EQS News Service

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