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BASF: Again with a forecast

In the third quarter, sales at BASF fell by 5 percent to 13.81 billion euros. EBIT before special items fell from 1.056 billion euros to 581 million euros. In the second quarter it stood at 226 million euros. There are value adjustments of 2.8 billion euros, which is why BASF reports a bottom line loss of 2.121 billion euros (previous year: +911 million euros). With this result, the expectations of experts are clearly missed. Overall, the numbers are mixed.

In the fourth quarter, EBIT before special items should exceed estimates. The consensus is around 600 million euros. According to BASF, sales for the year as a whole will be between 57 billion euros and 58 billion euros. In 2019 it was 59.3 billion euros. BASF expects EBIT before special items to be between EUR 3.0 billion and EUR 3.3 billion. This stood at 4.6 billion euros in 2019. With this, BASF publishes a forecast again. In April, the old estimate was withdrawn due to the pandemic.

According to the numbers, the analysts at Nord LB stick to the recommendation to hold BASF shares. The price target increases from 45.00 euros to 52.00 euros.

BASF shares lose 0.2 percent to 54.91 euros.

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