The Corona-crisis shows traces of BASF-the balance sheet, the situation should improve, however. Although the chemical group expects that, in the course of the year, with a complete recovery, but with a positive Trend.
Ludwigshafen, Germany (dpa) – BASF’s chief Executive Martin Brudermüller, because the Corona of the crisis a loss in the second quarter, it will still be possible.
The company will get the impact of the pandemic in the second year, to feel the quarter strong, said brother müller to the Online annual General meeting of the world’s largest chemical company on Thursday in Ludwigshafen, Germany. BASF expect an operating profit in the best case, a low three-digit million Euro amount. It could also be zero or negative.
brother Muller reasoned this, especially with the worldwide standstill in the automotive industry, the most important BASF group of customers. New targets for 2020, it is not called as before. Even with a strong demand from other segments, the decline in automobile could not be compensated. In the course of the year, BASF reckon with an improvement, but not a complete recovery.
BASF’s Supervisory Board chose the former CEO Kurt Bock as the new Chairman of the Supervisory Board. Bock had led BASF to may 2018. He will replace Jürgen Hambrecht, who was also once CEO of the company.
meanwhile, the Oil – and-gas company Wintershall, Dea will not go as planned in the second half of 2020 at the stock exchange. The BASF chief financial officer Hans-Ulrich Engel said. BASF had merged 2019, the Kassel-based Oil and gas subsidiary Wintershall with the competitor Dea. “Due to poor market conditions, in particular the very low Oil and Gas prices, we will postpone the IPO, but expected to,” said angel. The group, however, wanted to further reduce the share of Wintershall Dea successively.
Wintershall Dea is currently, because of the construction of the controversial pipeline, Nord Stream 2 in the focus. The company is involved in the Pipeline financially, the Gas is directly transported from Russia through the Baltic sea to Germany. The project is the US a thorn in the eye – and the companies that help to build the leadership, to threaten sanctions. As a result, the construction is currently on ice.
