Ludwigshafen, Germany – BASF generated sales of EUR39.2bn in the first half of 2021. This is up 33.0% on the same period last year. EBIT across the business rose from EUR1.5bn to EUR4.6bm in the half.
Strong H1 sales for BASF
CEO Martin Brudermuller said: 'Thanks to higher prices and volumes we can present very strong second-quarter results today. We achieved volume growth and price increases across all regions and all segments compared with the second quarter of 2020.'
In the company's materials business, which is home to polyurethanes, half-on-half sales rose by 43.3% to EUR7.2bn. This compares with EUR5bn in the equivalent period in 2020. EBIT in the division rose from 17m in the first half of 2020 to EUR1.4bn in the first half of 2021.
Revenue and EBIT grew because of demand-related increased in volumes, the company said.
Taking the year as a whole, BASF now believes there will be stronger growth in industrial production, which will be up by 6.5% and a similar increase in chemical production. This means that sales could be between EUR74bn and ERU77bn this year, and EBIT between EUR7bn an 7.5bn. These predictions assume that there will be no severe coronavirus restrictions in the second half.