Financial PerformanceQ3 FCF €569m down 61% due to lower NWC inflow of €0.5bn, earnings remained depressed.
Guidance And Market OutlookThe company’s FY 2024 EBITDA guidance of EUR 8.0-8.6bn requires a business uptick in Q4, which is deemed highly unlikely given the persistence of low demand in industries such as construction or automotive.
Operational ChallengesOperationally, BASF faces longer-term challenges across the upstream and downstream businesses, with cost savings typically sufficient only to offset cost inflation, unable to meaningfully close the gap to peers.