BASF reports sales increase

BASF has reported Q2 2022 sales of €23 billion, an increase of 16.3% compared to the previous year.

This “was primarily due to the significant price increases that BASF was able to introduce in almost all segments”, the company said.

Sales in the company’s Chemicals segment rose by 27.2% compared with Q2 2021 to reach €4.3 billion, while Materials increased sales by 29.9% compared with the prior-year quarter to €4.9 billion.

However, BASF’s Surface Technologies business reported sales 7.6% below the same period of 2021.

“For the second half of the year, BASF anticipates a gradual cooling of economic development globally, but much more pronounced in Europe,” a press release said. “This assumes that there are no severe restrictions resulting from new lockdowns in China and that natural gas shortages do not lead to production shutdowns in Europe.”

Its 2022 outlook for sales was raised to between €86 billion and €89 billion, from between €74 billion and €77 billion.

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