BASF SE / Key word(s): Final Results
27.01.2016 07:11
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Lower price forecasts for oil and gas lead to impairments in EBIT of BASF
Group in 2015
- Income from operations expected to be EUR6.2 billion (minus 18%
compared with previous year)
- Income from operations before special items expected to be within
forecast at EUR6.7 billion (minus 8% compared with previous year)
Ludwigshafen, Germany - January 27, 2016 - BASF herewith announces
preliminary, non-audited figures for 2015. As forecast by BASF, sales and
income from operations (EBIT) before special items for the full year 2015
are slightly* below the level of the previous year. Sales decline by 5% to
EUR70.4 billion (2014: EUR74.3 billion). EBIT before special items in 2015
is expected to be EUR6.7 billion (2014: EUR7.4 billion). The decrease in
sales is primarily due to the divestiture of the natural gas trading and
storage activities. The decline in EBIT before special items is due in
particular to significantly lower earnings in the Oil & Gas and Chemicals
segments in the fourth quarter of 2015 compared with the same period of
2014. In the Chemicals segment, this is mainly due to lower margins in the
Petrochemicals division.
For the full year 2015, EBIT of BASF Group is expected to be EUR6.2
billion. This significant decline compared with the level of the previous
year (2014: EUR7.6 billion) is mainly due to impairments in the Oil & Gas
segment. The company had previously expected only slightly lower EBIT in
the full year 2015. The reason for the impairments in the Oil & Gas segment
is the strong decline in oil and gas prices in the past months. BASF
anticipates that prices for oil and gas will remain at a low level in 2016.
The assumptions for oil and gas prices have also been reduced for
subsequent years. This results in impairments of around EUR600 million in
the Oil & Gas segment. This amount, which does not affect cash flow, is
reported as a special item and reduces EBIT in the Oil & Gas segment in the
fourth quarter of 2015.
On February 26, 2016, BASF will publish its Consolidated Financial
Statements for 2015 and will comment on the figures at its Annual Press
Conference.
* A slight decline represents a change of up to minus 5% for sales and up
to minus 10% for earnings.
Media Contact
Dr. Stefanie Wettberg
Corporate Communications
+49 621-60-99223
stefanie.wettberg@basf.com
27.01.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: BASF SE
Carl-Bosch-Straße 38
67056 Ludwigshafen
Germany
Phone: +49 (0)621 60-0
Fax:
E-mail: info.service@basf.com
Internet: www.basf.com
ISIN: DE000BASF111, DE000A0JRFB0, Börse Dublin, Frankfurter
Wertpapierbörse, DE000A0JRFA2, Börse Dublin, Frankfurter
Wertpapierbörse, DE000A0JQF26, Börse Dublin, Frankfurter
Wertpapierbörse, DE000A0EUB86, Frankfurter Wertpapierbörse,
DE0008846718, Frankfurter Wertpapierbörse, DE000A0XFK16,
Börse Luxemburg, Frankfurter Wertpapierbörse, XS0420401779,
Börse Luxemburg, XS0412154378, Börse Luxemburg, Frankfurter
Börse, DE000A0T4DU7,Börse Luxemburg, Frankfurter Börse,
CH0039943292, Swiss Exchange (SWX), CH0039943383, Swiss
Exchange (SWX), DE000A0TKBM, Börse Luxemburg, Frankfurter
Börse, XS0414672070, Börse Luxemburg, ,
WKN: BASF11, WKN A0JRFB, Börse Dublin, Frankfurter Wertpapierbörse, ,
WKN A0JRFA, Börse Dublin, Frankfurter Wertpapierbörse, , WKN A0JQF2, Börse
Dublin, Frankfurter Wertpapierbörse, , WKN A0EUB8, Frankfurter
Wertpapierbörse, , WKN 884671, Frankfurter Wertpapierbörse, , WKN A0XFK1, Börse
Luxemburg, Frankfurter Wertpapierbörse, , WKN A0XFHJ, Börse Luxemburg, , WKN
A0T6EG, Börse Luxemburg, Frankfurter Wertpapierbörse, , WKN A0T4DU, Börse
Luxemburg, Frankfurter Wertpapierbörse, , WKN 3994329, Swiss Exchange (SWX), ,
WKN 3994338, Swiss Exchange (SWX), , WKN A0TKBM, Börse Luxemburg, Frankfurter
Wertpapierbörse, , WKN A0T65R, Börse Luxemburg,
Indices: DAX, EURO STOXX 50
Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime
Standard), Hamburg, Hanover, Munich, Stuttgart; Terminbörse
EUREX; London, SIX
End of Announcement DGAP News-Service
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DGAP-Adhoc: BASF SE: Lower price forecasts for oil and gas lead to impairments in EBIT of BASF Group in 2015
| Source: EQS Group AG