BASF profit €322M up in Q1 2017

BASF, a Germany based chemical company has reported results for Q1 2017.

The company has reported rose of net income by €322 million to €1.7 billion. Earnings per share were €1.86 in the first quarter of 2017, compared with €1.51 in the same quarter of 2016.

“We remain cautious when it comes to our outlook for the full year. We still see considerable risks with regard to macroeconomic development and the political environment,” said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE. “We confirm our 2017 forecast for BASF Group sales and earnings. We expect considerable sales growth for the BASF Group in 2017. According to our definition, that equates to an increase of at least 6% in sales. We want to achieve slightly higher EBIT before special items compared with 2016. In this case, ‘slight’ means a change of 1-10%; we expect the increase will be toward the top end of that range.”