BASF fails to meet sales forecasts in 2023. The BASF Group today published preliminary figures for the 2023 financial year and reported sales of €68.902 billion, below the range of €73 billion to €76 billion forecast by the German company.
The German chemical company has therefore failed to reach the expected EBIT of €4 billion, and finally came in at €3.8 billion, a far cry from the more than €6.8 billion achieved in 2022. In the Chemicals segment, EBIT before exceptionals in 2023 is, as the company indicates, considerably below analysts' average estimates. The reasons for this decline include unplanned plant closures.
In the same press release issued by the company, it adds that net profit for this past year is expected to reach 225 million euros in 2023, an improvement over the previous year's figure, which was affected by Russia.