BASF : Glass half full, leaving behind tale of tears; upgrade to Outperform (Neutral)
>Flat volumes in Q4 marked the turning point, recovery towards 5% until Q4 2024 - BASF reported -0.4% y-o-y volume decline in Q4 2023, improving significantly from 9.4% decline in the prior quarter. We have witnessed recovery trends continuing into 2024 with BASF confirming ‘visible volume growth’ in January/February 2024 primarily in APAC/China, accounting for 25% of group sales in 2023. This was confirmed by ICIS showing strong plant utilisation recovery in China in...BASF is a chemical company based in Germany. Co. conducts its operations through five reportable segments: Chemicals, which comprises the Petrochemicals, Monomers and Intermediates divisions; Performance Products, which consists of the Dispersions & Pigments, Care Chemicals, Nutrition & Health and Performance Chemicals divisions; Functional Materials & Solutions, which comprises the Catalysts, Construction Chemicals, Coatings and Performance Materials divisions; Agricultural Solutions, which comprises the Crop Protection division; and Oil & Gas, which is composed of the Oil & Gas division.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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