BASF: confirms guidance for 2024
(CercleFinance.com) - BASF reports Q3 sales of E15.
7bn, stable compared with the same period a year earlier.
The group reports a very slight decline in EBITDA, down to E1.3bn from E1.4bn twelve months earlier. EBIT contracted more sharply to E250m, i.e. E144m less than in Q3 2023.
EBITDA before non-recurring items came to E1.6bn, compared with E1.5bn a year earlier.
By contrast, BASF posted net income of +E287m in Q3, a far cry from the loss of E249m in Q3 2023.
This performance is mainly due to higher net income from investments, mainly thanks to exceptional income of E398m linked to the transfer of Wintershall Dea assets to Harbour Energy plc.
We are on track to achieve our targeted annual savings of E2.1bn by end-2026. The implementation of the cost-cutting programs announced in February 2023 is fully underway, announced CFO Dr. Dirk Elvermann.
Against this background, BASF confirms its guidance for 2024, targeting EBITDA before exceptional items of E8bn to E8.6bn (BASF expects to achieve the lower end of the range) and FCF of E0.1bn and E0.6bn.
Copyright (c) 2024 CercleFinance.com. All rights reserved.
7bn, stable compared with the same period a year earlier.
The group reports a very slight decline in EBITDA, down to E1.3bn from E1.4bn twelve months earlier. EBIT contracted more sharply to E250m, i.e. E144m less than in Q3 2023.
EBITDA before non-recurring items came to E1.6bn, compared with E1.5bn a year earlier.
By contrast, BASF posted net income of +E287m in Q3, a far cry from the loss of E249m in Q3 2023.
This performance is mainly due to higher net income from investments, mainly thanks to exceptional income of E398m linked to the transfer of Wintershall Dea assets to Harbour Energy plc.
We are on track to achieve our targeted annual savings of E2.1bn by end-2026. The implementation of the cost-cutting programs announced in February 2023 is fully underway, announced CFO Dr. Dirk Elvermann.
Against this background, BASF confirms its guidance for 2024, targeting EBITDA before exceptional items of E8bn to E8.6bn (BASF expects to achieve the lower end of the range) and FCF of E0.1bn and E0.6bn.
Copyright (c) 2024 CercleFinance.com. All rights reserved.