The net relevant research of German chemical giant BASF in the first quarter has been published in the online edition of carbohydrate polymer magazine, and the profit has decreased by 68%
if the German chemical giant landfills, BASF announced on April 30 that the company's sales revenue in the first quarter fell by 23.3% to 12.22 billion euros. Analysts forecast 13.6 billion euros. The net profit in the first quarter fell sharply to 375million euros from 1.17 billion euros in the same period in 2008, down 68%, but higher than the 71million euros predicted by analysts. The company believes that the outlook for the whole year of 2009 will be bleak. At the same time, the company reported that its net profit in the first quarter continued to decline in global demand for chemical products. The company said that there was no sign of change before improving the heat resistance of polylactic acid, and the demand was further weakened at the beginning of 2009. The company expects that its sales will decline in 2009, and the EBIT profit will decline even more. In the first quarter, the company's EBIT profit excluding special items decreased by 58% to 985million euros, which was due to the sharp decrease in sales of many departments of the company
the company said that the cost reduction and efficiency plan was being implemented "strictly and rapidly"
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