BASF Reports Mixed Results Amid Cost-Cutting Efforts

The chemical giant sees positive core business growth but faces challenges from economic pressures and industry downturns.

BASF's third-quarter results show a 5% increase in operating profit, driven by higher volumes and margins in core segments.
Despite positive core business performance, BASF has revised its annual profit expectations to the lower end of the projected range due to economic challenges.
The company is implementing a major restructuring plan, aiming to save €2.1 billion annually by 2026, which includes potential job cuts and plant closures.
BASF's financial outlook is cautious, influenced by weak demand from the automotive sector and high energy costs.
The company plans to hold its next shareholder meeting virtually, reflecting ongoing cost-saving measures.