Ludwigshafen, Germany – BASF SE has lowered its forecast for 2018 earnings, due to lower-than-expected results in November.
The Ludwigshafen-headquartered company said 7 Dec that based on the November earnings data, it now expects “a considerable decrease in income”. According to current projections, EBIT before special items for the fiscal year 2018 will be some 15% to 20% lower than the 2017 level of €7.64 billion.
BASF had previously forecast a decline of up to 10% compared with the prior-year figure.
The significant decline in earnings, said BASF,…