The global macroeconomic outlook is currently subject to very high uncertainty. In particular, it is impossible to predict the further development of the war in Ukraine and its impact on the prices and availability of energy and raw materials. Consequently, BASF is currently maintaining its macroeconomic assumptions for the 2022 business year: Growth in gross domestic product: 3.8 percent; Growth in industrial production: 3.8 percent; Growth in chemical production: 3.5 percent; Average euro/dollar exchange rate of $1.15 per euro; Average annual oil price (Brent crude) of $75 per barrel; BASF Group’s sales and earnings forecast for the 2022 business year, as published in the BASF Report 2021, is being maintained: Sales of between €74 billion and €77 billion; EBIT before special items of between €6.6 billion and €7.2 billion; Return on capital employed (ROCE) of between 11.4 percent and 12.6 percent; CO2 emissions of between 19.6 million metric tons and 20.6 million metric tons. The market environment continues to be dominated by an exceptionally high level of uncertainty. Risks may arise from further increases in raw materials prices and new sanctions against Russia, such as a natural gas embargo, or restricted gas supplies from Russia as a result of counter-sanctions. Further risks could arise from the future course of the coronavirus pandemic and longer-lasting or new measures to contain the number of infections, especially in China. Opportunities could arise from continued high margins.
BASF achieves strong EBIT before special items despite significantly higher energy and raw materials prices