BASF sees a clear increase in profit and turnover in the first quarter | Economy

Turnover also exceeded expectations in the period from January to March. Turnover rose by almost a fifth to around 23 billion euros.

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Bottom line, however, the chemical group is not meeting expectations. At 1.2 billion euros, profit is even lower than a year earlier. This is due to impairments amounting to 1.1 billion euros on loans to the operator of the gas pipeline Nord Stream 2 between Russia and Germany. The operation of that pipeline was suspended after the Russian invasion of Ukraine.

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The company will present the full quarterly figures on April 29.

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