BASF with solid start to the year: Q1 2024 results

BASF got off to a solid start in 2024. The company presented figures for the first quarter of 2024, on the day of the Annual Shareholders’ Meeting held in the Congress Center Rosengarten in Mannheim, Germany. For this event, BASF expects a similar attendance as in 2023 with around 5,000 shareholders and shareholder representatives.

Sales in the first quarter of 2024 amounted to €17.6 billion, €2.4 billion below the figure of the prior-year quarter. This decline in sales was mainly driven by considerably reduced prices as a result of lower raw materials and energy prices in almost all segments as well as lower precious metal prices in the Surface Technologies segment.

Negative currency effects contributed to the sales decrease in all segments. Considerable growth in sales volumes in the Chemicals, Materials, Nutrition & Care and Industrial Solutions segments had a positive impact on sales. This more than compensated for lower volumes in the Agricultural Solutions and Surface Technologies segments.

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