BASF Reports Increased Q1 Profit Amid Sales Decline Due to Currency Impact

On April 30, BASF, the German chemical giant, announced a rise in first-quarter profits despite a decline in sales, attributed to adverse currency effects and slight price reductions. According to Jin10, BASF reported a net profit of €927 million for the first three months of the year, up from €808 million in the same period last year. This figure fell short of analysts' expectations of €1.03 billion. First-quarter sales decreased by 3% to €16.02 billion, slightly above analysts' estimates of €15.88 billion. BASF noted that currency impacts negatively affected sales across all business segments. Earnings before interest, taxes, depreciation, amortization, and special items fell by 5.6% to €2.36 billion, while earnings before interest and taxes rose from €1.16 billion to €1.26 billion. The company maintained its full-year performance outlook.