BASF Group: Financial year 2019
BASF with decline in sales and operating profit
In the 2019 financial year, the BASF Group's sales fell by 2% to €59.3 billion. The operating result (EBIT) fell by 28 percent to €4.5 billion.
According to the company, the slight decline in sales compared to the previous year was due to lower volumes and prices. At EUR 4.5 billion, income from operations (EBIT) before special items was EUR 1.7 billion below the previous year's figure due to lower contributions from the Materials and Chemicals segments.
"Our company is holding its own even in difficult times. 2019 was a
challenging year with strong global economic headwinds," said BASF Chairman of the Board of Executive Directors Dr. Martin Brudermüller. The trade conflicts between the USA and China had a negative impact. Important sales markets developed more slowly. This was exacerbated by uncertainties in connection with Brexit. Industrial and chemical production grew significantly slower than expected. Demand from many important customer industries declined significantly, particularly from the automotive industry.
"Despite a difficult market environment, we increased our earnings in all consumer-related segments. Unfortunately, however, this could not compensate for the decline in basic chemicals," said Brudermüller. In the consumer-related segments, on the other hand, BASF achieved an improvement compared to the previous year.
In the 2019 financial year, the BASF Group's EBIT fell from €6.0 billion to €4.1 billion. EBITDA pre exceptionals decreased by 11 percent to €8.2 billion compared to 2018. EBITDA amounted to EUR 8.0 billion compared to EUR 9.0 billion in 2018. Earnings after taxes and non-controlling interests rose to EUR 8.4 billion, compared to EUR 4.7 billion in the previous year. This includes a book profit of around 5.7 billion euros as a result of the deconsolidation of Wintershall following the merger with DEA.
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