|Bid||62.28 x 139300|
|Ask||62.29 x 16500|
|Day's Range||61.87 - 62.81|
|52 Week Range||57.35 - 89.45|
|Beta (3Y Monthly)||0.88|
|PE Ratio (TTM)||12.93|
|Earnings Date||Jul 25, 2019|
|Forward Dividend & Yield||3.20 (4.41%)|
|1y Target Est||N/A|
Moody's Investors Service, ("Moody's") has today withdrawn all the ratings of L1E Finance GmbH & Co KG ('Dea'), including the company's corporate family rating (CFR) of Ba3, the probability of default rating (PDR) of Ba3-PD, as well as the company's instrument ratings of Ba3 on the senior unsecured notes issued by the group's financing subsidiary DEA Finance SA. Moody's will also withdraw the stable outlook. Please refer to the Moody's Investors Service's Policy for Withdrawal of Credit Ratings, available on its website, www.moodys.com. For any affected securities or rated entities receiving direct credit support from the primary entity(ies) of this credit rating action, and whose ratings may change as a result of this credit rating action, the associated regulatory disclosures will be those of the guarantor entity.
For the seventh consecutive year, BASF was named one of the Top 50 Companies for Diversity by DiversityInc, moving up five places from 17 in 2018 to 12 in 2019. “Being recognized for the seventh consecutive year as one of the top companies for diversity sends a clear message that BASF is committed to being a leader in diversity and inclusion,” said Szelest.
German chemicals giant BASF expects to eke out some profit growth in 2019 as it banks on business to perk up with car production in the latter half of the year and on benefits from ongoing cost cuts. BASF, which held its annual shareholder meeting on Friday, reported a drop in first-quarter operating profit of 24 percent, hurt by weakness in the firm's basic chemicals business and a slump in prices for materials used in polyurethane foams. The maker of petrochemicals, coatings, catalytic converters and foams, said it still aims to grow operating profit this year at the lower end of a 1-10 percent range from 6.35 billion euros in 2018, despite analyst predictions of a decline in full year earnings.
European shares ticked higher on Friday, helped by gains among banks and Germany's Adidas, one day after the regional index suffered its worst loss in six weeks. Adidas led the benchmark as shares in the sportswear maker rose about 7 percent after it reported a rise in quarterly net profit thanks to high-margin ecommerce even as overall sales growth slowed. Bank stocks rose half a percent, supported by a 1.8 percent rise in the London-listed shares of HSBC Holdings PLC after the lender beat quarterly profit estimates, bolstered by a surge in income from its core Asian business.
BASF SE said profit growth this year will be at the low end of its forecast, testing Chief Executive Officer Martin Brudermueller’s plan to make the world’s biggest chemicals maker more nimble. Brudermueller marked his first year in charge with a reorganization of BASF’s businesses spanning basic plastics to genetically modified seeds. “It’s still too early to say what kind of test Brudermueller will see as he enters his second year,” said Mustaq Rahaman, an analyst at Bloomberg Intelligence.
German chemicals group BASF said on Wednesday that its had completed the merger of oil and gas groups Wintershall and DEA and is aiming for a stock market listing of the new company in the second half of 2020. Reuters reported last week that Wintershall DEA had picked banks to organise its flotation, which could become one of Europe's largest listings in 2020, people close to the matter said. BASF and LetterOne, a vehicle of Russian billionaire Mikhail Fridman which owns DEA, signed the merger deal last September.
Two BASF women in manufacturing were among 130 women recognized nationally through The Manufacturing Institute’s 2019 STEP Ahead Awards. BASF employees Beth Holland, Vice President of Operations for Polyamides and Precursors in Freeport, Texas, and Dana Scott, Maintenance and Technical Services Director in Geismar, Louisiana received awards. It examines and promotes the role of women in the manufacturing industry through recognition, research, and leadership.
* China's environment watchdog is considering modifying coastal ecological red lines to make space for two giant chemical projects planned by Germany's BASF
BASF expects revenues and earnings to rise this year as recent acquisitions help it cope with a slowing global economy and trade tensions, the German company said on Tuesday, sending its shares five percent higher. Fourth-quarter operating profit plunged almost 60 percent to 630 million euros (£543 million) as the firm's basic chemicals business was hit by a slump in prices for isocyanate - used in making polyurethane polymers and foams - and supply disruptions. Brudermueller is under pressure from investors to show a decline in the company's basic chemicals business, which makes materials for products such as heat insulation foams and coatings, can be offset by growth in more advanced products such as pesticides, catalysts and engineering plastics.
The German chemicals maker said net profit in the October-December period fell to 348 million euros ($395 million) from EUR1.54 billion. Analysts had forecast net profit of EUR502 million on sales of EUR14.63 billion, according to a consensus compiled by FactSet. BASF said it expects the first two quarters of 2019 to be “relatively weak” and targets slight growth in sales and earnings before interest and taxes, or Ebit, before special items in 2019.
German chemicals group BASF reported a nearly 60 percent drop in fourth-quarter operating profit on Tuesday, due to a sharp decline in earnings at its basic petrochemical-making unit. Fourth-quarter group earnings before interest and tax plunged 59 percent to 630 million euros ($715.37 million), above the average analyst estimate of 598 million euros in a Reuters poll. Chief Executive Martin Brudermueller is under pressure from analysts and investors to show that a decline at the basic chemicals unit, which makes materials that go into products such as heat insulation foams or coatings, can be offset by gains from more advanced products such as pesticides, catalysts or engineering plastics.
LUXEMBOURG/BRUSSELS, Feb 14 (Reuters) - BP, BASF and more than 30 other multinationals stand to benefit after EU judges overturned an order demanding Belgium revoke a tax break. The European Commission failed to prove that the Belgian tax break constituted aid, said the ruling by the General Court, the lower branch of the Court of Justice in Luxembourg. "The Commission wrongly considered that the Belgian system relating to the excess profit of multinational companies constituted an aid scheme," it said.
BASF will launch the sale of its $3 billion-plus (£2.3 billion) construction chemicals business in the spring, as part of the German chemicals group's drive to focus on more profitable operations, people close to the matter said. BASF, which flagged its intention to auction off or merge the unit in October, said on Tuesday it had hired Goldman Sachs to organise the transaction. "We are still at an early stage of the process," a BASF spokesman said, declining to comment further on the timing.
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PARIS/BERLIN, Feb 7 (Reuters) - Germany is pressuring other European capitals to block an EU proposal to regulate Russia's Nord Stream 2 pipeline ahead of a key meeting on Friday, diplomatic sources said, but may fail to convince France, threatening the project's construction. The European Union executive wants to extend its internal energy market laws to offshore gas pipelines to have a say over the new gas link under the Baltic Sea from Russia to Germany.