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BASF Reports Strong Start to 2021 Business Year

Sales growth of 16% to €19.4 billion, as EBIT before special items increases 42% to €2.3 billion.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

BASF reported a good start to its 2021 business year, as the company increased sales by €2.6 billion compared with the first quarter of 2020 to €19.4 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 Brudermüller, 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’s increased sales were 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% to €2.3 billion. EBIT rose by €855 million compared with the first quarter of 2020 to €2.3 billion.

Compared with the first quarter of 2020, sales in the Chemicals segment rose by 16% to €2.7 billion.

Both divisions posted higher sales, primarily due to significantly higher price levels.

In the Materials segment, sales rose by 20% to €3.4 billion, considerably higher than in the prior-year quarter.

Sales of €2.1 billion in the Industrial Solutions segment were at the level of the prior-year quarter.

Slightly higher sales in the Dispersions & Pigments division were offset by a slight decrease in the Performance Chemicals division.

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