Confirms FY guidance (Il Sole 24 Ore Radiocor) - Berlin, 25 Apr - The German chemical group BASF said that in the first quarter of 2024 net income amounted to 1.4 billion euros, down from 1.6 billion a year earlier, while sales fell by 2.4 billion euros to 17.6 billion.

EBITDA before special items reached 2.7 billion euros, down 5.3% year on year but 5.7% above analysts' consensus, it added.

Cash flow from operating activities was a negative 0.5 billion, compared with a negative 1.0 billion in the prior-year quarter. The improvement was primarily due to lower cash outflow from net working capital.

The free cash outflow improved to 1.5 billion euros from 1.9 billion a year earlier.

BASF confirmed its 2024 guidance.

It anticipates EBITDA before special items of 8.0-8.6 billion euros and a free cash flow of 0.1-0.6 billion.

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(RADIOCOR) 25-04-24 19:32:14 (0657) 5 NNNN