BASF : Risks piling up. Continuing upstream cost inflation a challenge for timely pass-through to downstream, headwinds in European auto. Downgrade to Neutral
>Q1 still good, looking for 2% EBIT BSI growth y-o-y driven by agricultural solutions - We expect Q1 2022 to still mark a good start to the year with EBIT BSI expected to be up 2% y-o-y to € 2,375m (consensus € 2,266m) primarily fuelled by better agricultural solutions results, seen up 10% y-o-y on strong pricing initiatives. This was confirmed by the CFO recently, reiterating the continuation of a strong January/February into March and a “good order book”. We were pl...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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