|Bid||0.00 x 139300|
|Ask||0.00 x 16500|
|Day's Range||65.31 - 67.54|
|52 Week Range||57.35 - 90.02|
|Beta (3Y Monthly)||0.86|
|PE Ratio (TTM)||12.82|
|Earnings Date||May 3, 2019|
|Forward Dividend & Yield||3.20 (4.77%)|
|1y Target Est||N/A|
* 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.
Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! This article is for investors who wouldRead More...
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.
The combined company will operate under the Solenis name as a global specialty chemical company focused on paper and industrial water technologies. WILMINGTON, Delaware , Feb. 1, 2019 /PRNewswire/ -- Following ...
NEW PROVIDENCE, N.J., Jan. 29, 2019 /PRNewswire/ -- The Surface Treatment global business unit of the Coatings division of BASF, operating under the Chemetall brand, and Nexeo Solutions, Inc. (NXEO) announces the expanded distribution relationship, in the United States, to include Chemetall's surface treatment portfolio developed for the aerospace industry. "We are excited to expand our portfolio in the U.S. with Chemetall's product line and technical support," said Jason Sanchez, Business Director of Aerospace and Custom Packaging at Nexeo Solutions.
BASF SE (FRA:BAS) received a lot of attention from a substantial price movement on the DB over the last few months, increasing to €70 at one point, and dropping to Read More...
MOSCOW/KIEV, Jan 18 (Reuters) - German Foreign Minister Heiko Maas on Friday urged both Russia and Ukraine to de-escalate the conflict in eastern Ukraine and said France and Germany were ready to help by monitoring naval traffic near the Crimean coast. Speaking in Kiev after a meeting with his Ukrainian counterpart Pavlo Klimkin, Maas again called for Moscow to release of the crews of three Ukrainian navy vessels it seized in November off Crimea.
BASF today co-founded a global alliance of nearly 30 companies to advance solutions that reduce and eliminate plastic waste in the environment, especially in the ocean. The Alliance to End Plastic Waste (AEPW) has committed over $1.0 billion with the goal of investing $1.5 billion over the next five years to help end plastic waste in the environment.
German business software group SAP said all staff working at its office in Nairobi had been brought to safety after an attack by gunmen on a hotel and office complex in the Kenyan capital. "We have confirmation that all our staff have been accounted for," a company spokeswoman said in response to a Reuters inquiry.
Norway awarded a record 83 blocks to explore for petroleum resources in mature areas of the Norwegian continental shelf, in a sign of continuing interest from oil companies in the country's oil sector, the energy ministry said on Tuesday. A lack of large discoveries on the shelf has prompted concerns that Norway's top industry, which employs about 170,000 people directly and indirectly, could fall into decline. The government hopes that offering more licenses could trigger more activity.
Jan 14 (Reuters) - Jiangyin Jianghua Microelectronics Materials: * SAYS IT "HAS NEVER STOLEN TECHNOLOGY", IN RESPONDING TO MEDIA REPORTS * SAYS IT ABIDES BY CHINA'S LABOUR AND CONTRACT LAWS AND ...
BASF is looking to shed a sizeable portfolio of assets to salvage a deal it struck in 2017 with Solvay over the acquisition of the Belgian chemicals group's polyamide business, people close to the matter said. The company is working with investment bank Lazard to find a buyer for the plastics assets, which could reap a valuation of about 450 million euros ($515 million), including debt, they said. BASF and Lazard declined to comment, while Solvay was not immediately available for comment.
Swiss chemicals company Sika AG has agreed to buy French rival Parex in a 2.5 billion Swiss franc ($2.6 billion) deal, the latest in a wave of consolidation in the construction materials sector. Sika is buying Parex from private equity firm CVC Capital Partners.
On Monday, Taiwan's Crime Investigation Bureau said it was investigating six current and former employees of German chemical company BASF's local operations suspected of leaking corporate secrets to a rival Chinese company, which it named as Jianghua Micro. Jianghua Micro's board secretary office said in an e-mail to Reuters that the company strictly abided by Chinese labour and contract laws and had never paid for data.
TAIPEI/FRANKFURT (Reuters) - Taiwan is investigating six current and former employees of BASF's (BASFn.DE) local operations suspected of leaking corporate secrets to a rival Chinese company, an official said on Monday. Five employees were detained and one had been granted bail by a court, Lu Sung Hao, Taipei-based director of Taiwan's Crime Investigation Bureau, told Reuters. The case comes amid fears among officials and executives around the globe about industrial espionage by China.