BASF backs 2023 view, as sales and earnings decline

BASF SE on Thursday backed its 2023 outlook despite lower sales and earnings margin, and confirmed previously reported earnings figures.

The German chemicals giant XE:BAS said it continues to expect sales of between 84 billion euros ($92.75 billion) and EUR87 billion, and earnings before interest, taxes and special items of between EUR4.8 billion and EUR5.4 billion. Return on capital employed continues to be seen at between 7.2% and 8%, the company said.

BASF…