BASF reports sales of €12.7 billion in Q2 2020, a decrease of 12% from the previous year mainly due to lower sales volumes resulting from lockdowns.
Sales in the Chemicals segment amounted to €1.8 billion, a decline from 2019, with a similar decline in Materials sales of €2.1 billion.
‘As expected, the economic effects of the corona pandemic had a much stronger impact in the second quarter of 2020 than in the first quarter of this year,’ a press release. ‘Customer industries were affected to varying degrees: BASF was particularly negatively impacted by the collapse in demand from the automotive industry, while demand from the detergent and cleaner industry and the food industry was stable. BASF was able to continue production at all important sites worldwide.’
‘The corona pandemic is still a huge challenge for all of us,’ said Dr Martin Brudermüller, chairman of the board. ‘This situation is a catalyst for change and a chance to do many things differently. At BASF, we have quickly adapted to new processes. Everyone is very open to virtual communication, internally and with our customers.’
This story uses material from BASF, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.
