Reported 2 days ago
BASF's shares fell 3% in early Frankfurt trading following the company's announcement of write-downs that led to a decline in annual earnings below expectations. Preliminary figures revealed a drop in earnings before interest and taxes to 2 billion euros for 2024, significantly missing analysts' forecasts of 3.2 billion euros and also falling short of 2023's results. The decrease was attributed to impairments in its battery materials unit and restructuring costs across various divisions. Full-year results are set to be reported on February 28.
Source: YAHOO