LUDWIGSHAFEN (dpa-AFX) - BASF Group (BFA.L, BASFY.PK), a German chemical company, reported that its net income attributable to shareholders for the first quarter of fiscal year 2025 dropped to 808 million euros or 0.91 euros per share from 1.368 billion euros or 1.53 euros per share last year.
Earnings per share adjusted for special items and amortization of intangible assets amounted to 1.57 euros compared to 1.68 euros in the prior year.
Sales revenue for the quarter declined to 17.402 billion euros from 17.553 billion euros last year. The decline in revenues was mainly attributable to the decline in sales volumes in the Agricultural Solutions, Chemicals and Nutrition & Care segments, while volumes in the Surface Technologies, Industrial Solutions and Materials segments remained at prior-year level. Moreover, lower prices resulting from competitive pressure in almost all segments contributed to the decline. The Nutrition & Care segment implemented price increases. Currencies boosted sales in almost all segments, mainly driven by positive effects from the U.S. dollar.
As previously announced, the Board of Executive Directors and the Supervisory Board are proposing a dividend of 2.25 euros per share to the Annual Shareholders' Meeting of BASF SE taking place today.. If the Annual Shareholders' Meeting approves the dividend proposal, the dividend of 2.25 euros per share will be paid out on May 7. The ex-dividend day is Monday, May 5, the first working day after the Annual Shareholders' Meeting.
BASF has set itself the target of distributing at least 12 billion euros to shareholders from 2025 to 2028. Specifically, the company strives to pay out a dividend of at least 2.25 euros per share annually and to start buying back shares as of 2027 at the latest.
Looking ahead for 2025, BASF Group still expects EBITDA before special items to be between 8.0 billion euros and 8.4 billion euros and free cash flow of 0.4 billion euros and 0.8 billion euros.
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