"Germany's BASF, the world's largest chemicals group, cut its
financial guidance for 2023 after releasing preliminary second-quarter
financial data that showed a drop in profit and revenue amid sharp energy costs
and weaker sales.
According to preliminary data, the net profit in April-June,
compared to the same period last year, declined from 2.09 billion EUR up to
499 million Eur, adjusted EBIT profit indicator - 57%, up to 1.01 billion. EUR,
sales revenue - 25%, up to 17.3 billion Eur.
BASF cut the 2023 revenue forecast from 84-87 billion EUR to
73-76 billion EUR, and adjusted EBIT - from EUR 4.8-5.4 billion. EUR to 4.4-4.8
billion Eur.
The company will announce the final financial data for the
second quarter of the year at the end of this month.
BASF, which supplies chemicals to the automotive,
agricultural and construction sectors, announced plans in February to cut
thousands of jobs worldwide and close several units due to a sharp rise in
energy prices."
Why have energy prices gone up so much? Do you think the
sanctions on Russia have affected the prices? How dare you? In the European Union, there are
topics that are forbidden to think about.
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