LUDWIGSHAFEN, Germany—BASF S.E. has reported a fall in second quarter sales and earnings (EBITDA), due in part to global trade conflicts and a slowdown in industrial growth.
Group sales stood at $16.9 billion during the three months to end of June, down 4 percent compared to the same period in 2018, the German chemicals giant said in a July 25 statement.
Earnings plunged 27 percent year-over-year to $2.23 billion, impacted by lower volumes and margins in the chemicals and materials segments.
"In total, the two segments accounted for 83 percent of the overall earnings decline in the second quarter of 2019," Chief Financial Officer Hans-Ulrich Engel said.
Second quarter revenue for the materials segment fell 16 percent to $3.3 billion during the period, while the chemicals unit registered a 22 percent drop in sales at $2.43 billion.
"There is currently high uncertainty, low visibility and poor predictability," Martin Brudermueller, chairman of the Board of executive directors of BASF, said during a conference call.