BASF SE, BASFY published on Tuesday, their profits decreased dramatically in the fourth quarter, less than the expectations, because of high material costs and logistical problems related to lower Rhine levels in some way.
This German chemical maker repoeted, in october-december period it’s net profit reduced to 348 million euros ($395 million) from the year before 1.54 billion euros. However, the sales rose to 15.59 billion euros from 15.23 billion euros compared with last year.
According to the average forecast compiled by FactSet, analysts had expectedit’s net profit might be 502 million euros in the fourth quarter, and sales will be 14.63 billion euros.
Basf said in the first two seasons of 2019 performance will show ” relatively weak”, the earnings before interest and tax and sales will have small increases, which including special items in 2019.
The company said it will propose a dividend of 3.20 euros per share, which is higer than 3.10 euros per shareof last year.