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1ST QUARTER: BASF'S SALES UP 16%, EARNINGS UP 42%
Source: BASF news release

*Sales growth of 16% to �19.4 billion

*EBIT before special items increases 42% to �2.3 billion

*2021 outlook for EBIT before special items raised to between �5.0 billion and �5.8 billion (previously: between �4.1 billion and �5.0 billion)

"We were able to carry over the tailwinds from the strong fourth quarter of 2020 into the first quarter of 2021," said Dr. Martin Bruderm黮ler, Chairman of the Board of Executive Directors of BASF, expressing one of the core messages to shareholders at this year's virtual Annual Shareholders' Meeting. "BASF had a strong start to the year 2021."

BASF increased sales by �2.6 billion compared with the first quarter of 2020 to �19.4 billion. This was mainly due to higher prices and volume growth. Compared with the same quarter of the prior year, income from operations (EBIT) before special items rose by 42 percent to �2.3 billion. This was primarily attributable to considerably higher earnings contributions from the Materials and Chemicals segments. The Surface Technologies segment also recorded considerable earnings growth thanks to the recovery in automotive production. All regions contributed to the considerable increase in the BASF Group's earnings in the first quarter of 2021.

EBIT rose by �855 million compared with the first quarter of 2020 to �2.3 billion. Income from operations before depreciation, amortization and special items (EBITDA before special items) increased by �602 million to �3.2 billion and EBITDA rose by �748 million to �3.2 billion in the same period.

Sales in the Agricultural Solutions segment rose slightly by 1 percent compared with the first quarter of 2020 to �2.8 billion. Volumes were above the prior-year quarter in all regions. Higher price levels also contributed to sales growth. Significantly negative currency effects had an offsetting impact. At �807 million, EBIT before special items was on a level with the first quarter of 2020. Strong volume growth and lower fixed costs compensated for the negative currency effects.

To read the entire report click here.


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