Published on November 2, 2024 at 08:50. / Modified on November 2, 2024 at 11:04.
-
Less in difficulty than Volkswagen, BASF remains an example of the difficulties of German industry
-
The company has launched a savings plan of 2.1 billion euros by the end of 2026
-
It results in the closure of dozens of facilities and the elimination of 2,600 jobs
Barometer of the German economy, BASF turns orange. Despite the increasingly virulent crisis at Volkswagen, one of its major customers, the German chemical group has continued the “positive dynamic” recorded since the start of 2024, noted this week its president since last April Markus Kamieth. Its profits are expected to reach between 8 and 8.6 billion euros in 2024, the bottom of the range set at the start of the year. In the last quarter, adjusted results increased by 5%, thanks to “higher volumes and margins”.
On the banks of the Rhine at the historic headquarters of the group in Ludwigshafen, the relief is relative. For two years and the outbreak of the war in Ukraine, the rise in energy costs had pushed the results of the world champion of chemistry into the red. With their two “crackers” which break down hydrocarbons into different chemicals, the Ludwigshafen installations alone consume 3% of natural gas in Germany.
Want to read all of our articles?
For CHF 29.- per month, enjoy unlimited access to our articles, without obligation!
I subscribe
Good reasons to subscribe to Le Temps:
- Unlimited access to all content available on the website.
- Unlimited access to all content available on the mobile application
- Sharing plan of 5 articles per month
- Consultation of the digital version of the newspaper from 10 p.m. the day before
- Access to supplements and T, the Temps magazine, in e-paper format
- Access to a set of exclusive benefits reserved for subscribers
Already have an account?
Log in
Business
