In the third quarter of 2021 theand sales of German chemical group Basf up 42% compared to those of 2020, marked by the Covid-19 crisis. In detail, we are talking about 19,66 billion against the 13,8 of the previous year. Net profit also soars to 1,2 billion, against a loss of 2,1 billion the year before: a result supported by higher prices and growing demand as the group is very busy in the production of components for pharmaceuticals, as well as for agriculture among dyes, plastics, paints and fertilizers.
The Ebitda margin also increased (13,9% against 7,6% in 2020). Ebit stood at 1,86 billion from 581 million the previous year, thanks to the good performance of the basic chemistry and materials, in particular of expanded polyurethane and plastic materials. Furthermore, compared to the third quarter of the previous year, BASF was able to "increase prices by 36% and volumes by 6%," he said in a statement. Martin Brudermüller, chairman of the board of directors.
The German group has also raised its revenue estimates. In fact, for 2021 the group expects a turnover of between 76 and 78 billion euros, against the 74-77 billion previously estimated. On the profits side, Ebit should be between 7,5 and 8 billion, against the 7 and 7,5 billion previously forecast.
The company is very oriented towards a sustainability policy and is refining its climate goals. Like other sectors, the European chemical industry will need to invest heavily in decarbonisation in the coming years to meet stringent CO2 targets.
Meanwhile the CEO Martin Brudermüller has recently collected the global chemical industry Icis CEO of the Year (prestigious) award 2021 for 'outstanding results voted and recognized by his peers' in the Icis Top 40 Power Players ranking. The three aspects considered were: profitability (shareholder value), ESG criteria (environment, social, governance) and innovation.
