...December 2, 2024 BASF's volumes are improving. In the first nine months of 2024, the company's reported sales fell by 6.8% to 49.4 billion, mainly due to lower prices and adverse movements in currencies. However, volumes in all segments, except surface technologies, have improved sequentially. Weak demand in automotive market resulted in lower volumes and prices for the catalyst division, which impacted sales in surface technologies (down 23.5% year on year). Margin is better. BASF's EBITDA before special items was stable while margin improved to 12.7% in the first nine month of 2024 (versus 11.9% in the same period in 2023). Strong earnings in the core business and cost saving of about 800 million (associated one off cost is 500 million) supported the profitability. The gains were partly offset by lower contribution from surface technologies and agricultural solutions segment. Q4 headwinds. Although volumes have improved in Ag business, it continues to be hit by lower prices and currency...
