BASF continues to make a loss in 2023. The German company has presented its financial results for the 2023 financial year. BASF recorded a decline in its sales figure and fell to 1,358 million euros, 13% less than in 2022, when the figure reached more than 1,560 million euros.
The company blames this fall on weakened demand, although they indicate that the results have been in line with expectations. They also indicate that in addition to low demand, the market situation has also been weighed down by stock shortages and increased costs.
BASF's general manager in Spain, Carles Navarro, explained that the results demonstrate the group's resilience: "if we put the figures in context, these results put us at pre-pandemic levels". Navarro also argued that investment levels are stable and that this provides reliability and allows the company to continue innovating.
In terms of investment, BASF has confirmed its intention to invest up to 40 million euros in Spain, five million less than last year.
The German company also explained that it expects 2024 to be marked by confidence in alliances to achieve a more sustainable future. The press release details some of these alliances that have already taken place and have proved fruitful. Some of them, made with Inditex. With the group owned by Amacio Ortega, they created a piece made with a BASF polyamide and also the first detergent for textiles specially designed to reduce the release of microfibres during the washing of clothes at low temperatures.