It is not a profit warning for the first quarter of 2023, after all, the chemical group BASF has exceeded the analysts’ estimates in earnings before interest, taxes and special items. But the sales figure that the Dax group published on Wednesday can certainly be seen as a warning. According to preliminary information, sales in the first quarter fell by a good 13 percent to almost 20 billion euros and, according to the company, were well below the analysts’ forecasts. On average, they had expected sales of 21.8 billion euros. The spectrum ranged from around 21 to almost 23 billion euros in sales. BASF lists these values on its website. The group attributes the decline to “significantly lower volumes”.
EBIT before special items fell in the first quarter by almost a third to an estimated EUR 1.9 billion, while the analysts’ average forecast was around EUR 1.6 billion. EBIT in the first quarter, at EUR 1.9 billion, was well below the previous year’s figure of EUR 2.8 billion, but well above the analysts’ consensus. Earnings after taxes and non-controlling interests rose to an expected EUR 1.6 billion after EUR 1.2 billion in the same period last year and was well above the analyst consensus. In the prior-year quarter, impairments on the stake in Wintershall Dea had impacted earnings.