Ludwigshafen, Germany – Sales at German chemicals giant BASF were EUR78.6bn in the 2021 financial year, up 32.9% on the same period last year. EBITDA across the business increased by 52.6% EUR11.3bn in 2021.
Higher prices along the chain helped BASF in 2021
'It was a strong and successful year for BASF,’ said chairman Martin Brudermuller. 'We increased sales prices by 25% and volumes by 11%. All segments achieved price and volume growth in 2021.'
The company said it had been hit by a EUR1.5bn increase in energy costs in 2021, with EUR800m of these occurring in Q4. Brudermuller said the company’s method of countering these is to implement further substantial price increases in the coming months to pass on the significantly higher costs and improve our margins in the downstream businesses.
In the company's materials business, sales rose by 42.0% between 2020 and 2021, They reached EUR15.2bn in 2021. This compares with EUR10.7bn in 2020.
EBITDA in the division rose 87.2% to EUR3.2bn in 2021. This compares with EUR1.7bn in the equivalent period in 2020.
Brudermuller said his company had had a very strong start to the year. The January 2022 figures were higher than the January 2021 figures, he said. Order backlogs are high, and the company expects industrial production to increase by 3.8% and chemical production by 3.5% with oil averaging $75/bbl.
Across the company, sales could be EUR74–77bn, and EBIT between EUR6.6–7.2bn.