Ludwigshafen, Feb. 25, (dpa/GNA) – German chemicals firm BASF SE said the company increased sales prices by 25% and volumes by 11% as it released financial data for 2021.
All segments achieved price and volume growth in 2021.
BASF noted that its automotive-related businesses continued to be negatively impacted by the semiconductor shortage. The company will implement further substantial price increases in the coming months to pass on the significantly higher costs and improve its margins in the downstream businesses.
“We will implement further substantial price increases in the coming months to pass on the significantly higher costs and improve our margins in the downstream businesses,” said board chairperson Martin Brudermüller.
Full-year 2021 earnings before interest and taxes (EBIT) were €7.8 billion ($8.7 billion), up 118% from the prior year. Adjusted earnings per share increased to €6.76, from €3.21.
Net income was €5.52 billion, or €6.01 per share, compared to a loss of €1.06 billion, or €1.15 per share. Sales were €78.6 billion in 2021, 33% higher than the previous year.
Fourth-quarter EBIT before special items was €1.2 billion, compared to €1.1 billion in the prior year.
Sales in the fourth quarter rose by 24% year-on-year to €19.8 billion.
For 2022, the company expects sales of between €74 billion and €77 billion; and EBIT before special items of between €6.6 billion and €7.2 billion. The board of executive directors and the supervisory board will propose to pay a dividend of €3.40 per share, an increase of 10 cents.
GNA