Turnover also exceeded expectations in the period from January to March. Turnover rose by almost a fifth to around 23 billion euros.
Bottom line, however, the chemical group is not meeting expectations. At 1.2 billion euros, the profit is even lower than a year earlier. This is due to impairments amounting to 1.1 billion euros on loans to the operator of the gas pipeline Nord Stream 2 between Russia and Germany. The operation of that pipeline was suspended after the Russian invasion of Ukraine.
The company will present the full quarterly figures on April 29.