BASF Maintains Outlook Despite Tariff Uncertainty and Q1 Decline in Care Segment
BASF has confirmed its full-year outlook despite reporting weaker results in key segments, including Nutrition and Care, and warning of rising uncertainty due to global tariff tensions. The post BASF Maintains Outlook Despite Tariff Uncertainty and Q1 Decline in Care Segment appeared first on Global Cosmetics News.
THE WHAT? BASF has confirmed its full-year outlook despite reporting weaker results in key segments, including Nutrition and Care, and warning of rising uncertainty due to global tariff tensions.
THE DETAILS The company reported a 3.2% year-on-year drop in EBITDA before special items to €2.625bn (US$2.96bn) for the first quarter of 2024, beating analyst expectations. Group sales declined to €17.40bn from €17.55bn, missing forecasts, with lower demand in the Agricultural Solutions, Chemicals, and Nutrition and Care units. Net profit fell 41% to €808m, impacted by a €300m one-off charge related to BASF’s withdrawal from the Nordlicht wind farm project. Surface Technologies was the only business unit to report earnings growth. Sales declined in North America and other regions outside Europe and Asia Pacific.
THE WHY? BASF cited increased volatility from ongoing and potential tariffs, particularly from the U.S., and said the broader impact remains difficult to assess. While over 80% of its U.S. sales in 2024 came from locally produced goods — limiting direct exposure to tariffs — the company warned that indirect effects, such as changes in customer demand, are unpredictable.
The post BASF Maintains Outlook Despite Tariff Uncertainty and Q1 Decline in Care Segment appeared first on Global Cosmetics News.
