LUDWIGSHAFEN (dpa-AFX) - BASF (BFA.L, BASFY.PK) said it expects net income for the second quarter to be 2.09 billion euros considerably above the prior-year quarter's 1.65 billion euros and significantly above analyst consensus. The considerable increase compared with the prior-year quarter primarily resulted from the higher income from the shareholding in Wintershall Dea.
Quarterly income from operations (EBIT) before special items is expected to be 2.34 billion euros compared to the prior year's 2.36 billion euros. It is significantly above analyst consensus.
EBIT for the second-quarter is expected to be 2.35 billion euros compared to 2.32 billion euros. It is significantly above analyst consensus.
Sales increased by 16 percent in the second quarter of 2022 to 22.97 billion euros from the prior year's 19.75 billion euros. This was mainly driven by higher prices; currency effects, primarily relating to the U.S. dollar, had a positive effect as well. Volumes declined slightly compared with the prior-year quarter. Sales thus exceeded average analyst estimates for the second quarter of 2022.
The company's outlook for the 2022 business year remains unchanged for the time being.
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