BASF reports Q1 sales increase

BASF says that its sales were €23.1 billion in Q1 2022, an increase of €3.7 billion compared to Q1 2021.

Income from operations (EBIT) before special items increased by €497 million to €2.8 billion.

According to the company, this sales growth was mainly driven by higher prices, especially in the chemicals and materials segments, although there was a decline in volumes in the company’s Surface Technologies business.

"The first quarter of 2022 was characterized by significantly higher energy and raw materials prices as well as supply chain disruptions," the company said. "The global macroeconomic outlook is currently subject to very high uncertainty. In particular, it is impossible to predict the further development of the war in Ukraine and its impact on the prices and availability of energy and raw materials."

The company anticipates sales of between €74 billion and €77 billion in 2022.