By Mauro Orru
BASF SE projects increases in its earnings before interest and taxes as well as its sales for the fourth quarter of 2020, according to preliminary figures released Wednesday.
The German chemical conglomerate said quarterly EBIT should amount to 932 million euros ($1.13 billion) compared with EUR579 million in the fourth quarter of 2019. EBIT before special items should be EUR1.11 billion compared with EUR842 million the year prior, BASF said.
“The Materials, Chemicals and Industrial Solutions segments considerably exceeded average analyst estimates for EBIT before special items in the fourth quarter of 2020,” BASF said in a statement.
The company expects quarterly sales of EUR15.91 billion, up from EUR14.69 billion in the same period a year before.
BASF said it will publish its 2020 report on Feb. 26.
Write to Mauro Orru at [email protected]; @MauroOrru94
(END) Dow Jones Newswires
January 20, 2021 03:16 ET (08:16 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.