BASF published preliminary Q3 figures. Sales clearly dropped 20% to €14.0bn and EBIT before one-offs declined 5% to €1.5bn, whereas EBIT (unchanged at €1.5bn) strongly fell by 23%. Management confirmed its outlook for 2016, seeing a considerable sales decline (divesture of gas trading and storage business) and EBIT before one-offs at a level slightly below 2015’s.
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Beating consensus
BASF published preliminary Q3 figures. Sales clearly dropped 20% to €14.0bn and EBIT before one-offs declined 5% to €1.5bn, whereas EBIT (unchanged at €1.5bn) strongly fell by 23%. Management confirmed its outlook for 2016, seeing a considerable sales decline (divesture of gas trading and storage business) and EBIT before one-offs at a level slightly below 2015’s.