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Outlook unachievable: BASF withdraws 2020 forecast – dividend confirmed | message

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The sales and earnings development forecast at the end of February will not be achievable, as the DAX Group announced. The duration and further spread of the coronavirus pandemic as well as future measures to curb it are currently not reliably assessable. Therefore, there are no concrete statements from BASF about future sales and earnings development.

Originally, the group wanted to increase revenues in 2020 to 60 to 63 billion euros after 59.3 billion euros in 2019. Adjusted earnings before interest and taxes should decline further in the worst case – BASF’s target range ranged from 4.2 to 4.8 billion euros , which would have been up to 300 million euros more or less than in 2019. Analysts had already expected the forecast for 2020 to be reduced given the burdens from the pandemic.

BASF SE confirmed the dividend proposal for last year on Wednesday evening. The Management Board and the Supervisory Board had decided to propose a dividend of EUR 3.30 per share to the Annual General Meeting on June 18. In the previous year, the distribution was EUR 3.20 per share. The group will present its first quarter results on Thursday.

FRANKFURT (Dow Jones)

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