I have had a look at the actual Quarterly statement of BASF.
Its still doing stellar. 1.3bn€ EBIT (profit after tax), and forecast for the entire year 2022 is up to 7bn€. Thats 10% (at close to 90bn€ sales). For every € of BASF business, they are making 10ct€ profit!
Of course 3bn€ increased energy cost for 2022 (2.2bn€ in 9months) will hurt, even if you are making 10bn€ profit otherwise, but 7bn€ left isnt shabby.
What this probably is, is a pretense to make a strategic move to some best cost location(s), namely China, and this energy stuff is the argument in order to get it done. Wont go into details, our russian troll wont read or process (or admit to having processed it) anyway, but it has to do with the power of unions and how the Board(s) of Directors of German companies have to be constituted, by law, and why its not as easy as in the US to make some (bigger) relocations.
Its still doing stellar. 1.3bn€ EBIT (profit after tax), and forecast for the entire year 2022 is up to 7bn€. Thats 10% (at close to 90bn€ sales). For every € of BASF business, they are making 10ct€ profit!
Of course 3bn€ increased energy cost for 2022 (2.2bn€ in 9months) will hurt, even if you are making 10bn€ profit otherwise, but 7bn€ left isnt shabby.
What this probably is, is a pretense to make a strategic move to some best cost location(s), namely China, and this energy stuff is the argument in order to get it done. Wont go into details, our russian troll wont read or process (or admit to having processed it) anyway, but it has to do with the power of unions and how the Board(s) of Directors of German companies have to be constituted, by law, and why its not as easy as in the US to make some (bigger) relocations.
Cetero censeo religionem delendam esse
