BASF raises its sales target

Frankfurt The chemical group BASF is raising its targets after an unexpectedly good first half. For 2022, BASF now expects sales of 86 to 89 billion euros and an operating result (EBIT) before special items of 6.8 to 7.2 billion, as the Ludwigshafen-based company announced on Wednesday.

So far, sales of between 74 and 77 (previous year: 78.6) billion euros and adjusted earnings of between 6.6 and 7.2 (7.8) billion euros had been forecast.

BASF had already published preliminary quarterly figures in mid-July, which turned out better than analysts had expected. For the second half of the year, the Group is assuming a gradual slowdown in global economic development, although this will be much more pronounced in Europe.

Risks can arise primarily from production stoppages at the major European locations as a result of further restrictions on European gas supplies from Russia. In this case, BASF could partially compensate for the loss of European capacities through higher plant utilization at non-European locations.