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BASF boosts earnings prediction on economic rebound

FRANKFURT, April 29 (Reuters) - Germany’s BASF lifted its full-year profit outlook as the global economy recovers quickly from the coronavirus pandemic and as the chemicals giant expects to pass on higher raw material costs to its industrial customers.

Earnings before interest and tax (EBIT), adjusted for one-off items, would likely reach between 5 billion euros ($6.1 billion) and 5.8 billion euros, up from 3.6 billion last year, it said on Thursday.

BASF had previously forecast adjusted EBIT of 4.1-5.0 billion euros for 2021.

$1 = 0.8241 euros Reporting by Ludwig Burger, editing by Emma Thomasson

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