US EditionGerman chemical giant BASF keeps outlook, warns on tariffs
- German chemical firm BASF confirmed its earnings forecast for 2025 despite a 40% decline in net profit during the first three months of the year, with profits totaling 808 million euros.
- This situation results from rising competition, higher energy costs linked to Russia's invasion of Ukraine, and disruptions caused by hardline US trade policies including tariffs.
- BASF highlighted its resilience to US tariffs due to producing over 80 percent of US sales locally, but warned about ongoing uncertainty from tariff volatility and possible countermeasures by trading partners.
- Chief Financial Officer Dirk Elvermann noted tariff impacts include indirect demand changes in industries like automotive and consumer goods, while CEO Markus Kamieth emphasized growth plans in Asia, including a new site in Zhanjiang, southern China.
- BASF remains cautiously optimistic about its 2025 earnings despite uncertainties caused by US tariffs, noting the difficulty in fully gauging their impact, while emphasizing that Asia, particularly China, continues to be the main region fueling expansion in the chemicals sector.
31 Articles
31 Articles
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Woodward Inc., a Fort Collins company that designs, manufactures and services energy-conversion and control solutions for the aerospace and industrial equipment markets, boosted its year-over-year revenue and earnings performance in the second quarter, while company leadership expressed confidence in its ability to maintain its financial projections for the second half of 2025 despite the federal government’s tariff strategy. The firm’s total sa…
charitonleader.com
German chemical giant BASF keeps outlook, warns on tariffs
German chemicals giant BASF stuck to its 2025 earnings outlook on Friday, despite the turmoil unleashed by hardline US trade policies, but warned of high levels of uncertainty.
tz.de
BASF announces savings program at the Annual General Meeting – yet billions will flow
Ludwigshafen - Despite a drop in sales and criticism of the China strategy, BASF is looking ahead. At the Annual General Meeting, the Executive Board is setting new ground for the future.
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