BASF has released preliminary figures for the first quarter of 2022. Sales increased by 19% in the first quarter of 2022 to €23,083 million (Q1 2021: €19,400 million). This was mainly driven by higher prices; currency effects, mainly relating to the U.S. dollar, had a slightly positive effect. Sales thus slightly exceeded average analyst estimates for the first quarter of 2022 (Vara: €21,982 million).

The BASF Group’s operating business performed better than in the first quarter of 2021. In the first quarter of 2022, EBIT before special items amounted to an expected €2,818 million, an increase of 21% compared with the prior-year quarter (Q1 2021: €2,321 million) and thus also considerably above the analyst consensus for the first quarter of 2022 (Vara: €2,431 million).

The BASF Group’s EBIT amounted to an expected €2,785 million in the first quarter of 2022, considerably above the figure for the prior-year quarter (Q1 2021: €2,311 million) and considerably above the analyst consensus for the first quarter of 2022 (Vara: €2,377 million).

Net income reached €1,221 million, considerably below the figure for the prior-year quarter (Q1 2021: €1,718 million) and considerably below average analyst estimates for the first quarter of 2022 (Vara: €1,767 million). This is due to impairment charges recognized by Wintershall Dea, particularly for loans to Nord Stream 2 AG, which BASF included in its net income from shareholdings on a proportional basis (72.7%) with around €1.1 billion.

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