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BASF: Further savings

BASF is planning a realignment at Global Business Services. The unit employs around 8,400 people and provides services for BASF. The DAX group plans to cut around 2,000 jobs in this area by the end of 2022. This should bring annual savings of 200 million euros from 2023. With this, BASF is continuing the efficiency program.

The sale of construction chemicals to Lonestar has now been completed. The sales price is 3.17 billion euros. The sale of the pigments business is also expected to be completed in the coming quarter. The sales price here is 1.15 billion euros.

BASF still does not give a forecast for 2020. The analysts at Independent Research are expecting sales of 56.35 billion euros and earnings per share of 1.37 euros (old: 0.56 euros). In the coming year they are forecasting 59.87 billion euros or 3.11 euros per share.

In their current study, they confirm the recommendation to hold BASF shares. The price target is raised from EUR 51.00 to EUR 52.00.

BASF shares gain 2.3 percent to 55.21 euros.

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