BASF Group: Strong Performance in Q4 2020

BASF Chief Executive Officer Dr. Martin Brudermüller said, "In a challenging 2020 business year, BASF managed to close the year strongly. For the full year 2020, operating income before special items (EBIT) exceeded the company's forecast announced in October and delivered results that diverged from analyst consensus." [caption id="attachment_123396" align="aligncenter"] Dr. Martin Brudermüller[/caption]   For this reason, BASF published preliminary figures on 20 January 2021. And Brudermüller added, "We continued to see double-digit volume growth. In the final quarter of the year, sales volumes increased in almost all segments. BASF also significantly expanded margins for certain commercial product groups such as isocyanates. Lower fixed costs also contributed to favorable results in the fourth quarter of 2020".

BASF Group achieved sales and earnings growth in Q4 2020

In the fourth quarter of 2020, sales increased by 8% to EUR 15.9 billion. Prices also rose by 7%, mainly driven by the Surface Technologies, Agricultural Solutions and Materials segments. Portfolio effects contributed 1% and resulted from the acquisition of polyamide operations from Solvay. Currency effects had a negative impact of 7% on sales.