BASF Raises 2022 Sales, EBIT Outlook
27 Luglio 2022 - 07:42AM
Dow Jones News
By Giulia Petroni
BASF SE on Wednesday raised its full-year sales and earnings
guidance based on a positive performance in the first half and
assuming there are no new lockdowns in China or gas production
shutdowns in Europe.
The German chemicals company said it now expects sales to grow
to between 86 billion and 89 billion euros ($87.4 billion-$90.5
billion), compared with previous expectations of EUR74 billion and
EUR77 billion.
Earnings before interest and taxes before special items are seen
at between EUR6.8 billion and EUR7.2 billion, from EUR6.6 billion
and EUR7.2 billion previously.
"For the second half of the year, BASF anticipates a gradual
cooling of economic development globally, but much more pronounced
in Europe," the group said.
However, the company added that the war in Ukraine and its
impact on energy and raw-materials prices may lead to additional
headwinds, while further risks could arise from coronavirus-related
restrictions.
BASF said it is responding to the economic slowdown with
cost-reduction measures.
The company confirmed second-quarter preliminary figures.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
July 27, 2022 01:27 ET (05:27 GMT)
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