BASF, the hottest global industrial leader, saw it

2022-09-22
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BASF, the leader of global industry, said on Thursday that it expected the company's profits and sales in fiscal 2011 to significantly exceed the level of the previous fiscal year. But at the same time, it warned that in the fourth quarter of this year, the growth rate of the company's performance will continue to slow down, and the overall demand of China's domestic plastic machinery market will grow steadily, mainly due to market turmoil and investors' concerns about the global economy

in a statement released to the public, Dr. Kurt Bock, chairman of the Executive Board of BASF, said, "we will respond to the needs of investors according to specific circumstances, and will continue to promote the company's cost reduction projects with very decadent prospects."

BASF said in the statement of the third quarter financial report released to the public that in the third quarter of this year, the company's net profit fell by 4.3% to 1.19 billion euros compared with the same period last year. Earlier analysts predicted a decline of 6% to 1.18 billion euros. Sales in the third quarter increased by nearly 12% to 17.61 billion euros, exceeding the level of 10% to 17.39 billion euros previously predicted by market analysts

statistics show that BASF's share price has fallen by 16% since the beginning of this year, while the euro Stoxx chemicals index has fallen by nearly 13%

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"BASF's customers are more cautious in planning the function of the bolt cutter, reduce inventory, and postpone orders because of the expected price may fall." The group issued a statement that

EBIT adjusted for special items fell 11.3% to 1.96 billion euros (2.71 billion dollars), but higher than the average estimate of 1.89 billion euros by analysts surveyed by Reuters

quarterly revenue grew by 11.6% to 17.6 billion euros, in line with average estimates

BASF reiterated that if the impact of oil tax, which cannot be used as a tax credit in Germany, is not taken into account, the revenue and adjusted EBIT will grow significantly this year

"however, compared with the first quarter of 2011, the growth slowed down significantly. We expect this trend to continue in the fourth quarter." BASF added

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