BASF Group has reported its 2022 financial results. BASF increased sales by 11.1% to €87.3 billion. Sales growth was reportedly driven by higher prices across almost all segments due to an increase in raw materials and energy prices. The materials and chemicals segments implemented the highest price increases. Significantly lower volumes overall dampened sales growth for the BASF Group. Volume development was primarily driven by lower sales volumes in the surface technologies and chemicals segments.
At €6.9 billion, income from operations (EBIT) before special items was 11.5% below the company’s prior-year figure, but within the forecasted range. The earnings development was attributable to a strong decline in earnings contributions from the chemicals and materials segments. Both segments recorded lower margins and volumes as well as higher fixed costs.