BASF reports strong performance in Q4 2020 due to higher volumes and prices

February 28, 2021 |

In Germany, BASF reports a strong 2020 and reported the company outlook for 2021 with an expected sales growth between €61 billion ($73.8 billion) and €64 billion (about $77 billion) (as compared to 2020’s €59.1 billion, or about $71.4 billion).

“In a challenging 2020 business year, BASF was able to close out the year on a strong note,” said BASF’s Chairman of the Board of Executive Directors, Dr. Martin Brudermüller, at the presentation of the BASF Report 2020. Income from operations (EBIT) before special items for the full year 2020 exceeded the company’s forecast released in October and beat the analysts’ consensus.

“We increased volumes in all regions in the fourth quarter of 2020,” said Brudermüller. “In Greater China, we continued to see double-digit volumes growth. Sales volumes rose in almost all segments in the final quarter of the year,” he added. For some commodity product lines, such as isocyanates, BASF was also able to significantly expand margins. Lower fixed costs also contributed to the good result in the fourth quarter of 2020.

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Category: Fuels

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