Tension and caution affect BASF 2018 results - sportstextiles: Lea SportsTextiles

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Tension and caution affect BASF 2018 results

26/02/2019
Chemicals group BASF has announced full-year revenues for 2018 of €62.7 billion, which is 2% more than the figure for 2017. However, the company’s earnings before tax fell by 17% in 2018, reaching €6.4 billion. It said this decline in profits was mainly attributable to the chemicals segment, which accounted for around two-thirds of the total decline in earnings.

Overall, BASF said 2018 was a year characterised by difficult global economic and geopolitical developments and trade conflicts. In the second half of the year, it noted economic slowdown in key markets, especially in automotive.

It also said demand from Chinese customers declined significantly. Trade conflict between the US and China contributed to this. “Around the world, uncertainties grew,” the company said on releasing the results. “Many market participants therefore acted very cautiously.”

BASF’s performance products segment achieved revenues of €15.8 billion for the year, a fall of 2%. However, revenues from its functional materials segments were up by 3%, reaching €21.4 billion.


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