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    BAS   DE000BASF111

BASF SE

(BAS)
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BASF Harmed by Weaker US Dollar, Brazilian Real in 1Q -- Currency Comment

04/29/2021 | 11:27am EDT

By Mauro Orru

BASF SE's first-quarter sales rose 16% on year to EUR19.4 billion, but all segments were dampened by currency effects, mostly due to a weaker U.S. dollar and Brazilian real.

The German chemicals company had assumed the euro would average $1.18 against the dollar in the first quarter.

Barring a few days at the end of March, the euro traded above $1.18 for that period and was above $1.20 for most of January and February. Its closing level on March 31 was $1.1731, according to FactSet.

"Currency effects of minus 6 percent were mainly related to the devaluation of the U.S. dollar as well as the Brazilian real," a BASF spokesman tells Dow Jones, adding these were most pronounced in the Surface Technologies and in Agricultural Solutions segments.

Sales in the Agricultural Solutions segment rose 1% to EUR2.8 billion as volumes were above the prior-year quarter in all regions and higher price levels also had a positive effect, but negative currency effects had an offsetting impact, mainly due to the Brazilian real, the spokesman said.

Sales in the Nutrition & Care segment were down 3% on year, mostly due to the U.S. dollar.

The company declined to give a figure for its first-quarter assumption on the Brazilian real, which has lost more than 2% against the euro since the start of the year, according to FactSet.

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

04-29-21 1126ET

Stocks mentioned in the article
ChangeLast1st jan.
AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.22% 0.61774 Delayed Quote.-1.72%
AUSTRALIAN DOLLAR / US DOLLAR (AUD/USD) 0.28% 0.7246 Delayed Quote.-5.64%
BASF SE 1.00% 62.39 Delayed Quote.-3.60%
BRITISH POUND / EURO (GBP/EUR) 0.01% 1.16507 Delayed Quote.4.12%
BRITISH POUND / US DOLLAR (GBP/USD) 0.04% 1.3661 Delayed Quote.-0.09%
CANADIAN DOLLAR / BRAZILIAN REAL (CAD/BRL) 0.20% 4.1179 Delayed Quote.1.85%
CANADIAN DOLLAR / EURO (CAD/EUR) 0.13% 0.666413 Delayed Quote.3.48%
CANADIAN DOLLAR / US DOLLAR (CAD/USD) 0.16% 0.78125 Delayed Quote.-0.53%
DJ INDUSTRIAL -0.15% 33919.84 Delayed Quote.13.00%
EURO / BRAZILIAN REAL (EUR/BRL) 0.00% 6.1779 Delayed Quote.-1.59%
EURO / US DOLLAR (EUR/USD) 0.05% 1.1725 Delayed Quote.-4.00%
INDIAN RUPEE / EURO (INR/EUR) 0.01% 0.011569 Delayed Quote.3.31%
INDIAN RUPEE / US DOLLAR (INR/USD) 0.04% 0.013572 Delayed Quote.-0.82%
NEW ZEALAND DOLLAR / US DOLLAR (NZD/USD) 0.25% 0.70151 Delayed Quote.-2.29%
US DOLLAR / BRAZILIAN REAL (USD/BRL) -0.03% 5.2683 Delayed Quote.2.52%
US DOLLAR / EURO (USD/EUR) -0.05% 0.852878 Delayed Quote.4.17%
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Analyst Recommendations on BASF SE
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Financials
Sales 2021 74 743 M 87 580 M 87 580 M
Net income 2021 5 386 M 6 311 M 6 311 M
Net Debt 2021 14 440 M 16 920 M 16 920 M
P/E ratio 2021 10,4x
Yield 2021 5,44%
Capitalization 57 304 M 67 148 M 67 146 M
EV / Sales 2021 0,96x
EV / Sales 2022 0,97x
Nbr of Employees 107 646
Free-Float 100%
Chart BASF SE
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Technical analysis trends BASF SE
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Mean consensus OUTPERFORM
Number of Analysts 22
Last Close Price 62,39 €
Average target price 80,93 €
Spread / Average Target 29,7%
EPS Revisions
Managers and Directors
Martin BrudermŘller Chairman-Executive Board
Hans-Ulrich Engel Chief Financial & Digital Officer
Kurt Wilhelm Bock Chairman-Supervisory Board
Melanie Maas-Brunner Chief Technology Officer
Anke Schńferkordt Independent Member-Supervisory Board
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