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Finance

BASF shares indicated 3% lower as impairments drag earnings lower

Published by Global Banking and Finance Review

Posted on January 27, 2025

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(Reuters) - Shares in BASF fell 3% in early Frankfurt trading after the chemical company late on Friday reported write-downs and a drop in annual earnings below estimates.

According to preliminary figures, 2024 earnings before interest and taxes fell to 2 billion euros ($2.09 billion), missing Vara's analyst consensus of 3.2 billion euros, also falling below the 2023 figure.

Full-year operating profit was dragged lower by impairments at its battery materials business and by restructuring costs across divisions, the company said.

BASF is scheduled to report its full-year results on February 28.

Shares are among worst performers of the German blue-cap index in early Frankfurt trade.

($1 = 0.9561 euros)

(Reporting by Anastasiia Kozlova; Editing by Ludwig Burger)