BASF expects pre-tax profit to fall 15%-20% in 2018
BASF currently expects its earnings in 2018 to “substantially decline” based on its November results, citing weak performance in its chemical products sector. These factors include a decrease in the price of isocyanate, a decrease in the profitability of the cracker, and the impact of the low water level in the Rhine. BASF said demand in the automotive industry is also continuing to decline. BASF said: "The demand for Chinese customers has slowed significantly." "The trade conflict between the United States and China has contributed to this slowdown."
BASF expects full-year interest-earnings (EBIT) for 2018 to fall 15% to 20% before special projects, compared to 7.5 billion euros in the same period last year. BASF had previously forecast a 10% year-on-year decline, down from the previous year.
BASF said: "In particular, the price of isocyanate fell sharply and the profit margin of steam crackers was lower than expected." In addition, the low water level of the Rhine in the fourth quarter of 2018 is expected to cause a negative impact of up to 200 million euros, higher than Previous predictions.
BASF will release its 2018 Annual Results Report on February 26, 2019.
- The 24th China International Agrochemicals & Crop Protection Exhibition (CAC2024) has Officially Opened1114
- IBI was Invited to Visit Jazan and Riyadh, Saudi Arabia for Cross-border Cooperation1174
- Focus GOO, The 2024 (5th) Global Oil and Oilseeds Industry Summit was held in Nantong1198
- LYDD was invited to attend the Trade Promotion and Exchange Conference of the China Chamber of I/E of Foodstuffs, Native Produce and Animal By-products(CFNA) with representatives of Mato Grosso State from Brazil1194
- Mr. Yang Junhao, General Manager of the Malaysia Palm Oil Board (MPOB) China Office and his delegation visited LYDD again1071