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Global uncertainty hurts BASF

24/10/2019
Chemicals group BASF has reported revenues of €46.5 billion for the first nine months of 2019, a fall of 2% on the figure for the corresponding period last year. Its pre-tax earnings were down by substantially more, falling by 34% year on year to reach €3.7 billion.

The group said it had had a “significantly lower contribution” from its materials segment, which brought in revenues of €8.8 billion over the nine-month period, a decline of 15%.

Commenting on the result, BASF chairman, Dr Martin Brudermüller, said: “The trade conflict between the US and China is weighing on our business. Moreover, there are uncertainties related to Brexit,” said Brudermüller. He added: “These events are acting as a drag on the economy – not only in export-oriented countries in Europe. The US is also experiencing a noticeable slowdown. Growth continues in China, albeit at a slower pace.”


Related stories:

BASF to publish CO2 footprint of all products 28/07/2020
BASF buys Solvay’s polyamide business 03/02/2020
Archroma acquires BASF's stilbene-based OBA business 09/12/2019

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