BASF : Q1 EBITDA 6% above cons with broad-based beat (+17% operationally); outlook confirmed with consensus at mid-point; strong start
>Group volumes +0.5% y-o-y in Q1 held back by -9% in Ag (Q4 23: flat), up 2.1% y-o-y excl. base metals - The -12.2% y/y decline in group sales in Q1 24 was primarily pushed by -10.4% y-o-y decline in prices (Q4 2023: -14%) while volume recovered to 0.5% (Q4: flat), ending eight quarters of volume erosion. This was held back by -9.3% in Ag and -6.3% in Surface Tech (o/w -5.4pp base metals) while all other segments reported 6-10% y-o-y volume recovery in Q1.§ph...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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