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Finance

Posted By Global Banking and Finance Review

Posted on January 24, 2025

BASF 2024 earnings miss estimate by 1 billion euros on impairments

(Reuters) - Germany's top chemical maker BASF reported a drop in annual earnings below estimates on Friday, weighed by impairments on battery materials in its surface technologies unit and restructuring costs.

According to preliminary figures, 2024 earnings before interest and taxes fell to 2 billion euros ($2.10 billion), missing Vara's consensus of 3.2 billion euros, also falling below the 2023 figure.

($1 = 0.9513 euros)

(Reporting by Andrey Sychev, Editing by Louise Heavens)

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