BASF: Market environment remains volatile and challenging

15 April 2016

Full year 2015: Sales €70.4bn (-5% yr-on-yr); EBIT before special items €6.7bn (-8%); EBIT €6.2bn (-18%); Higher earnings in the chemicals business; Oil & Gas considerably below previous year; Earnings/share €4.34 (-23%); Adjusted earnings per share €5.00 (-8%); Record operating cash flow of €9.4bn (+36%); Dividend proposal of €2.90 for business year 2015

Outlook 2016: Considerable sales decline due to divestiture of gas trading business. EBIT before special items expected at level slightly below 2015, based on an average oil price of US$40/barrel

The market environment continued to be volatile and challenging. Growth rates for the global economy, industrial production and the chemical industry in 2015 all lagged considerably behind the company’s expectations.

In Q4 of 2015, sales were €13.9bn (-23% yr-on-yr). This was mainly due to the asset swap with Gazprom, which was completed at the end of September. In total, portfolio measures in Q4 reduced sales by 19%.

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