BASF Group Releases Third-Quarter 2023 Financial Results
BASF Group has reported its third-quarter 2023 financial results. The company’s sales amounted to €15.7 billion, down by €6.2 billion compared with the prior-year period. The decline was reportedly due to considerably lower prices, primarily in the materials, chemicals, and surface technologies segments. Higher prices in the agricultural solutions segment had a positive effect. In addition, sales performance was weighed down by considerably lower volumes in all segments.
“Sales volumes were considerably lower than in the prior-year quarter across all customer industries – with the exception of automotive,” said Martin Brudermüller, Ph.D., chairman of the board of executive directors of BASF, presenting the quarterly figures together with CFO Dirk Elvermann, Ph.D.