FRANKFURT, Oct 28 — German chemicals giant BASF raised its 2026 outlook for the second time this year on Wednesday after raising prices for some products following the outbreak of the Iran war.
The maker of products ranging from automotive paints to sunscreen ingredients now expects a core profit of €7.4 billion to €7.8 billion (RM33.6 to RM35.4 billion) this year, up from a previous forecast of €6.9 billion to €7.7 billion.
BASF’s earnings have been boosted after it hiked prices for some goods in March by up to 30 per cent in response to surging costs for energy and other raw materials because of the US-Israeli war against Iran.
The company said Wednesday that its core profit in the third quarter rose 15 per cent from the period last year to €1.6 billion.
