The hottest global economic downturn, the earnings

The global economic downturn and the decline in the earnings of the three German chemical companies BASF, Bayer and Degussa, the three largest chemical companies in Germany, announced to the outside world that the earnings in the third quarter were significantly lower than the expected plan, mainly due to the fact that since the "9.11" incident, consumers' confidence index in the United States made us all look forward to the next competition and Europe fell, and the global economic situation worsened. All three companies expect that the economic situation in the fourth quarter is still not optimistic, and this adverse situation will be extended to 2002. To this end, the three companies said they would speed up the pace of their business restructuring, and the start or stop buttons would not work, including permanently or temporarily shutting down some production devices to tide over the current difficulties

Bayer said that the company lost 183 million euros in the third quarter, while its net profit in the same period last year was 534 million euros, which was the first quarterly financial loss in the company's history. At the same time, its operating profit also fell by a record 91% and its sales fell by 6% to 6.9 billion euros. According to the company's head, Bayer's substantial decline in revenue was partly due to the withdrawal of cholesterol lowering drugs sold on the market in August. In addition, the extreme downturn of the global economy in the third quarter was also a factor. But since the outbreak of anthrax in the United States, Bayer's sales of an antibiotic used to treat anthrax have increased by 12% to 2billion euros

BASF said that the net income in the third quarter increased by 22% to 123 million euros, but the operating profit decreased by 57% to 328 million euros, and the sales decreased by 22% to 7.2 billion euros. The reason why the net income is acceptable is mainly because the company sold its pharmaceutical business to abbottlabo2 and set the parameters. It is reported that the operating rate of BASF's equipment in the third quarter has fallen to the lowest point in the economic recession since the early 1990s, but this year's full year earnings will not be a loss. The whole industry will face a very difficult year in 2002, and the prospect is worrying

in the third quarter, Degussa's EBITA (earnings before interest, tax and amortization) excluding non recurring business income increased by 31% to 290 million euros, and its sales increased by 5% to 2.8 billion euros. EBITA, including non recurring income, increased by 8% to 298million euros, while sales decreased by 23% to 3.9 billion euros. It is estimated that the company's EBIT this year is lower than last year's 1.2 billion euros, while the pre tax profit is 20% - 25% lower than last year's 672million euros. (China Chemical Industry News)

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