BASF Group’s sales in the third quarter of 2023 amounted to €15.7 billion, down by €6.2 billion compared with the prior-year period. The decline was mainly due to considerably lower prices, primarily in the Materials, Chemicals and Surface Technologies segments. Higher prices in the Agricultural Solutions segment had a positive effect. In addition, sales performance was weighed down by considerably lower volumes in all segments. “Sales volumes were considerably lower than in the prior-year quarter across all customer industries – with the exception of automotive,” said Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF, presenting the quarterly figures together with Chief Financial Officer Dr. Dirk Elvermann.

Compared with the prior-year quarter, income from operations (EBIT) before special items declined by €772 million to €575 million. This is in line with the average analyst estimates of €601 million compiled by the analysis service provider Vara Research on behalf of BASF in October 2023. Earnings development resulted primarily from the considerably lower EBIT before special items of the Chemicals, Nutrition & Care, Industrial Solutions and Materials segments. Earnings also declined significantly in Other. The Agricultural Solutions segment increased EBIT before special items considerably, while the Surface Technologies segment slightly increased earnings.