(Finance) – He shyly lengthens his pace Basfwhich trades with a modest advance of 0.92%.
Preliminary 2023 results show sales down to 68.9 billion euros, from 87.3 billion the previous year. This is a figure lower than analysts’ expectations and the group’s guidance which estimated revenues in the range of 73-76 billion euros.
L’Net income instead, it rises to 225 million euros, an increase of 852 million compared to 2022. The operating result (Ebit) stands at 3.81 billion euros, almost halved compared to the 6.88 billion of the previous year. The cash flow is equal to 2.7 billion euros (3.33 billion in the previous year).
The weekly analysis of the stock compared to DAX shows a lag behind the index in terms of the relative strength of the chemical companywhich performs worse than the reference market.
The short-term scenario of Basf highlights a decline in prices towards the 43.66 Euro area with the first resistance area seen at 44.5. Expectations are for a widening of the negative phase towards the support seen at 43.26.
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