German chemical and battery giant BASF saw a return to profit in fiscal year 2023, with a net income of €225 million ($244 million), compared to a loss of €627 million in 2022. Income from operations (EBIT) before special items in the 2023 business year amounted to €3.8 billion. The decline of €3.1 billion compared with the prior-year figure was primarily due to a considerably lower earnings contribution from the Chemicals and Materials segments. EBIT was €2.2 billion in 2023; the steep decline compared with the prior-year figure resulted primarily from special items amounting to minus €1.6 bi…