Skip to main content
Sister Publication Links
  • Plastics News
Subscribe
  • Newsletters
  • Login
  • SUBSCRIBE
  • News
    • Recycling
    • Sustainability
    • Bioplastics
    • Technology & Materials
    • Injection Moulding
    • Blow Moulding
    • Extrusion
    • Thermoforming
    • 3D printing
    • Technology
    • Materials
    • Machinery
  • Opinion
    • View Point
  • Events
    • Our Exhibitions
    • Plastics Industry Awards (PIA)
    • Ask the Expert
    • Reifenhäuser Technologies Livestreams
    • Plastics News Europe Live Archives
    • Sustainable Plastics Live
    • Reuters Responsible Business Europe 2022
    • Plastics Recycling Show Europe
  • Prices & Resources
    • Polymer Prices
    • Data Reports
    • Sponsored Content
    • White Papers
  • Contact
    • Advertise
    • Media Pack
  • Subscribe
  • Digital magazine
    • Digital Magazine
  • Multimedia
MENU
Breadcrumb
  1. Home
  2. News
May 01, 2020 01:45 PM

Subdued Q1 for BASF as lower isocyanate margins weigh on firm

Simon Robinson
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print
    BASF

    Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF SE

    Ludwigshafen, Germany – BASF generated group-wide sales of EUR 16.75bn in the first quarter 2020 up 7.42% on the same period last year.

    EBITDA across the business fell 12.3% to EUR 2.43bn in the quarter and the company has withdrawn its financial guidance for 2020.

    Martin Brudermüller, BASF CEO said: 'BASF's diversified portfolio offers advantages, especially in difficult times. Not all of our industries are equally affected by the pandemic. They show different degrees of resilience. For example, pharma, detergents and cleaners and food… are experiencing additional demand.'

    In the company's Materials business, sales fell 1.9% between the first quarter 2019 and the first quarter of 2020. They were EUR 2.87bn in the first quarter 2020. This compares with EUR 2.93bn in the equivalent period in 2019.

    At the same time, EBITDA in the division fell 15.8%. It reached EUR 415m in the first quarter of 2020. This compares with EUR 493m in the equivalent period in 2019.

    BASF blamed lower margins year-on-year in the ethylene and propylene value chain as well as for isocyanates and polyamide precursors. Earnings in these segments were lower and  fixed costs were higher than in Q1 2019.

    In the Materials segment, considerable earnings growth in Performance Materials division did not compensate for the decline in Monomers. The company has withdrawn its earnings guidance issued on 28 February.

    BASF said: 'It is currently impossible to reliably estimate both the length and the further spread of the coronavirus pandemic.'

    Shutdown's in the automotive and other business areas will hit the company, BASF said. It added that there will be considerable falls in sales for the second quarter. But the company expects a slow recovery for the third and fourth quarters.

    The situation is 'extremely uncertain and not predictable,' BASF concluded.

    Newsletters
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Sustainable Plastics' news delivered straight to your inbox, free of charge.

    SUBSCRIBE
    Sustainable Plastics Media Kit Cover

    Subscriptions to Sustainable Plastics, the leading Pan-European magazine for the circular plastics industry.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter

    "In a changing world, Sustainable Plastics is a constant: a platform the plastics industry can rely on to deliver the news and knowhow impacting the industry going forward”

    Contact Us

    11 Ironmonger Lane, EC2V 8EY
    United Kingdom 
     

    Customer Service:
    1-313-446-0450

    [email protected]

     

    Resources
    • Advertise
    • Sitemap
    • Careers
    • Subscribe
    Affiliates
    • Plastics News
    • LSR World
    • Urethanes Technology
    • Tire Business
    • Rubber News
    • Automotive News
    • Automotive News Europe
    • Crain Publications
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Recycling
      • Sustainability
      • Bioplastics
      • Technology & Materials
        • Injection Moulding
        • Blow Moulding
        • Extrusion
        • Thermoforming
        • 3D printing
        • Technology
        • Materials
        • Machinery
    • Opinion
      • View Point
    • Events
      • Our Exhibitions
        • Plastics Recycling Show Europe
      • Plastics Industry Awards (PIA)
      • Ask the Expert
      • Reifenhäuser Technologies Livestreams
      • Plastics News Europe Live Archives
      • Sustainable Plastics Live
      • Reuters Responsible Business Europe 2022
    • Prices & Resources
      • Polymer Prices
      • Data Reports
      • Sponsored Content
      • White Papers
    • Contact
      • Advertise
      • Media Pack
    • Subscribe
    • Digital magazine
      • Digital Magazine
    • Multimedia