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The report for the fourth quarter, published by the German petrochemical company BASF, showed a reduction in its net profit by more than 4 times in annual terms to 348 million euros. Economists had expected a less significant decline - to 502 million euros. The main reasons for the fall were problems in the field of logistics and rising costs for raw materials. Revenue increased by 355 million euros and amounted to 15 billion 586 million euros, with experts' forecast at the level of 14 billion 630 million euros. The decrease in net profit for the whole of 2018 was at the level of 23%. Its annual rate was 4 billion 707 million euros. BASF also reported a decline in EBITDA by 14.9%, and EBIT - by 16.9%. Revenue was fixed at 62 billion 675 million euros, up by 2.4% over the year.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
Spain’s unemployment rose to 15.33% for the second quarter of 2020, according to Tuesday’s data from the National Statistics Institute amid the worsening COVID-19 situation in the country. The unemployment rate surged past the ...
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