BASF’s net income declines in Q1 2024
by ChemOrbis Editorial Team - content@chemorbis.com
German chemicals company BASF reported a net income of €1.4 billion in the first quarter of 2024, down by 12.4% from the €1.6 billion income announced in the same period last year.
BASF’s sales declined by 12.2% to €17.6 billion from €20 billion reported in Q1 2023. This decline in sales was driven by reduced prices because of lower raw materials and energy prices in almost all segments.
Considerable growth in sales volumes in the chemicals and industrial solutions segments had a positive impact on sales, said the company.
The company’s EBITDA dropped by 5.6% to €2.66 billion from €2.8 billion in the same quarter of the previous year. EBITDA before special items was €2.71 billion, down 5.3% from last year.
BASF’s sales declined by 12.2% to €17.6 billion from €20 billion reported in Q1 2023. This decline in sales was driven by reduced prices because of lower raw materials and energy prices in almost all segments.
Considerable growth in sales volumes in the chemicals and industrial solutions segments had a positive impact on sales, said the company.
The company’s EBITDA dropped by 5.6% to €2.66 billion from €2.8 billion in the same quarter of the previous year. EBITDA before special items was €2.71 billion, down 5.3% from last year.
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