BASF 1st-Quarter Net Profit Rises 23%
April 27 2017 - 2:01AM
Dow Jones News
By William Wilkes
FRANKFURT--German chemicals giant BASF SE (BAS.XE) reported a
23% rise in net profit for the first quarter of 2017, helped by
increased sales across all business areas.
Net profit for the period ended March 31 was 1.71 billion euros
($1.86 billion), compared with EUR1.39 billion during the same
period a year earlier, just beating analysts' forecasts. Analysts
had predicted a net profit of EUR1.59 billion, according to a
recent poll conducted by The Wall Street Journal.
Sales rose by 19% to EUR16.86 billion, helped by higher sales
volumes and prices, BASF said in a statement. BASF's closely
watched earnings before interest and taxes before special items
rose 29% to EUR2.46 billion, beating analyst forecasts of EUR2.39
billion.
BASF reiterated its guidance for the full year, saying it
remains cautious due to macroeconomic and political risks. For
2017, it has said it expects "considerable" sales growth of at
least 6%. It reported EUR57.55 billion in sales last year.
Write to William Wilkes at william.wilkes@wsj.com
(END) Dow Jones Newswires
April 27, 2017 01:46 ET (05:46 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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