01.19.18
BASF announces preliminary, non-audited figures for the 2017 business year. As forecast by BASF, sales, income from operations (EBIT) before special items and EBIT are considerably above the level of the previous year. The earnings figures exceed analyst estimates significantly.
Sales rose by 12% to €64.5 billion (2016: €57.6 billion). EBIT before special items for 2017 is expected to be €8.3 billion, 32% above the prior-year figure (2016: €6.3 billion). The year-on-year earnings growth is primarily attributable to the strong earnings increase in the Chemicals segment. Higher volumes and margins in the Monomers, Petrochemicals and Intermediates divisions are the main contributing factors.
For the full year 2017, the BASF Group’s EBIT is expected to rise by 36% to €8.5 billion (2016: €6.3 billion). Net income is expected to exceed the prior-year level by 50% and reach around €6.1 billion (2016: €4.1 billion). The reduction in the US corporate tax rate from 35% to 21% results in one-time noncash, deferred tax income of almost €400 million in the fourth quarter of 2017.
Sales rose by 12% to €64.5 billion (2016: €57.6 billion). EBIT before special items for 2017 is expected to be €8.3 billion, 32% above the prior-year figure (2016: €6.3 billion). The year-on-year earnings growth is primarily attributable to the strong earnings increase in the Chemicals segment. Higher volumes and margins in the Monomers, Petrochemicals and Intermediates divisions are the main contributing factors.
For the full year 2017, the BASF Group’s EBIT is expected to rise by 36% to €8.5 billion (2016: €6.3 billion). Net income is expected to exceed the prior-year level by 50% and reach around €6.1 billion (2016: €4.1 billion). The reduction in the US corporate tax rate from 35% to 21% results in one-time noncash, deferred tax income of almost €400 million in the fourth quarter of 2017.