German chemical giant BASF posted sales of €19.7 billion ($22.8 billion) in the third quarter of 2021. That represents a 42% gain from €5.9 billion a year earlier, thanks to the 36% increase in prices and the 6% gain in volumes in all segments. Third-quarter EBIT before special items came in at €1.9 billion ($2.2 billion), compared to €0.6 billion in the same quarter last year. Meanwhile, EBITDA rose from €1.0 billion to €2.7 billion ($3.1 billion) over the same period. The company’s net income stood at €1.3 billion ($1.5 billion), €3.4 billion higher than in the year-ago quarter.
BASF now expects sales to increase to between €76 billion and €78 billion ($88.2 billion-$90.5 billion) in 2021, adjusted from the previous guidance range of between €74 billion and €77 billion euros. EBIT before special items is estimated at between €7.5 billion and €8.0 billion ($8.7 billion-$9.3 billion), compared to the prior outlook range of between €7.0 billion and €7.5 billion. The company expects continued solid demand for its Chemicals and Materials segments. It also projects consumption of consumables and consumer durables to remain steady, although businesses and consumers are expected to face a larger burden from rising energy prices.
