BASF has reported a 33% increase in 2021 sales compared to 2020 of €78.6 billion.

Income from operations (EBIT) was €7.8 bn, more than double compared with 2020, the company said. This also showed an increase of 67% compared with pre-pandemic level in 2019. According to the company, this increase was mainly driven by its Chemicals and Materials businesses, while Surface Technologies and Industrial Solutions segments also contributed.

BASF’s Q4 2021 sales rose by 24% versus the prior-year quarter to reach €19.8 billion.

“It was a strong and successful year for BASF,” said chairman of the board, Dr Martin Brudermüller.

“Despite the comparison with the strong prior-year quarter, BASF was able to increase volumes in all segments except for Materials in Q4 2021,” added CFO Dr. Hans-Ulrich Engel.

The company now expects to have 2022 sales of between €74 billion and €77 billion, and predicts global economic growth to be around 3.8%.