|2020-03-05 来源： 中国石化新闻网|
中国石化新闻网讯 据ICIS网站3月3日德国报道 据总部位于德国的巴斯夫化工业务首席财务官称，预计第一季度巴斯夫化工业务的收益将走弱。
王磊 摘译自 ICIS
BASF chemicals earnings to continue falling in Q1 – CFO
BASF's chemicals division earnings are expected to be weaker in the first quarter, according to the CFO at the Germany-headquartered major.
The warning comes after BASF recorded a difficult 2019 for its commoditised operations.
Prices remain weak for many of BASF's key chemicals and materials products, particularly isocyanates and olefins/polymers, meaning little improvement is expected in the near future, according to BASF CFO Hans-Ulrich Engel.
“If you compare Q1 2020 to Q1 2019, we are at levels significantly below Q1 2019, which is also the main driver for saying we are expecting the chemicals segment overall to be weaker. We have the same situation with respect to cracker products,” said Engel.
“There were still decent prices in Q1 2019 - but throughout the year prices and margins dropped,” he added.
The CFO was speaking on the sidelines of the company’s financial results press conference on 28 February at its Ludwigshafen, Germany headquarters.
Earnings before interest and taxes (EBIT), or operating profit, for the company’s chemicals division – covering petrochemicals and intermediates –and its materials business – covering polyurethanes and polyamides – fell 60% and 59% respectively in 2019.
This represented a combined EBIT before special items drop of €2.2bn to €1.8bn
The extent of the falls in demand and margins for basic chemicals was strong enough to offset gains for surface technologies, agricultural solutions, and a 36% increase in industrial solutions earnings.
Germany-based polyurethanes major Covestro forecast last month that there was little momentum for a rebound in isocyanates pricing in the near future despite prices potentially bottoming out in late 2019.
This is largely BASF’s view, but scope for prices to fall further is dependent on the impact of coronavirus on markets, according to Engel.