Slide 1: BASF Conference Call: FY 2024
BASF Conference Call: FY 2024 February 28, 2025 October 30, 2024
Slide 2: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements This presentation contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward-looking statements are not guarantees of the fu
Slide 3: Q4 2024: EBITDA before special items above prior-year quarter
Q4 2024: EBITDA before special items above prior-year quarter, supported by strong finish in Agricultural Solutions Sales development ▪ Sales stable at €15.9 billion Q4 2024 vs. Q4 2023 Volumes Prices Currency Portfolio ▪ Volumes excluding precious and BASF Group adjusted1 ▲ 3.2% ▲ 0.5% ▼ -1.4% ▼ -0
Slide 4: Q4 2024 snapshot: Market development and BASF's performance
Q4 2024 snapshot: Market development and BASF’s performance Market environment Volume development Specific margin Chemicals Materials Core businesses Industrial Solutions Nutrition & Care Surface Technologies Standalone businesses Agricultural Solutions Impact on BASF’s EBITDA before special items i
Slide 5: FY 2024: BASF's EBITDA before special items increased
FY 2024: BASF’s EBITDA before special items increased due to the strong performance of its core businesses1 BASF Industrial Nutrition Surface Agricultural BASF Group Chemicals Materials Solutions & Care Technologies Solutions Other Group 249 196 -145 155 175 -331 7,858 EBITDA before -112 7,671 speci
Slide 6: Active portfolio management
Active portfolio management Agreement to sell Brazilian Market approach regarding the IPO readiness of Agricultural decorative paints business remaining coatings activities Solutions division targeted signed in February 2025 planned in Q2 2025 by 2027 6 February 28, 2025 | BASF Conference Call: FY 2
Slide 7: BASF Group FY 2024: Key financial figures
BASF Group EBITDA before special items Adjusted EBITDA margin bsi1 FY 2024: Key financial figures €7,858m 13.1% FY 2024 vs. FY 2023 +€187m +0.5ppt EBIT before special items Net income €3,911m €1,298m +€105m +€1,073m Operating cash flow Free cash flow €6,946m €748m -€1,165m -€1,968m 1 EBITDA before s
Slide 8: BASF Group FY 2024: Special items in EBIT -€1.9 billion
BASF Group FY 2024: Special items in EBIT ▪ Restructuring costs mainly incurred for cost savings programs and restructuring of glufosinate- 36% 37% ammonium production Restructuring1 Impairments ▪ Impairments mainly on battery 2024 materials assets in the Surface -€1.9 billion Technologies segment ▪
Slide 9: Progress toward 2030 goals for CO2 emissions
Progress toward 2030 goals for CO2 emissions ▪ In 2024, Scope 1 and 2 emissions Million metric tons Kilograms of CO2 per kilogram were almost stable compared with of raw materials purchased 2023 and within the forecast range, despite volume growth 21.9 1.64 3 1.58 ▪ Progress towards 2030 goal for 17
Slide 10: Cash flow development in Q4 2024
Cash flow development in Q4 2024 supported by cash inflows from net working capital Q4 2024 (million €) FY 2024 (million €) Q4 2024 vs. Q4 2023 3,456 ▪ Cash flows from operating activities 6,946 decreased by €806 million to €3.5 billion, mainly due to lower cash inflows from changes in net working c
Slide 11: Strong balance sheet
Strong balance sheet ▪ Total assets increased by €3.0 billion Million € Dec. 31, 2024 Dec. 31, 2023 Change to €80.4 billion, mainly due to Zhanjiang-related additions to property Total assets 80,415 77,395 3,020 plant and equipment Noncurrent assets 49,183 45,923 3,260 ▪ Equity ratio: 45.9% Current
Slide 12: We will bring down capex after startup of the Zhanjiang Verbund site
We will bring down capex after startup of the Zhanjiang Verbund site Capex forecast (billion €) 19.5 -17% 16.2 Prior capex1 New capex1 forecast forecast ▪ €16.2 billion capex between 2025 and 2028, thereof €5.0 billion in 2025 2024-2027 2025-2028 ▪ Investment for Zhanjiang Verbund site to come down
Slide 13: We are on track to deliver cost savings of ~€2.1 billion by end of 2026
We are on track to deliver cost savings of ~€2.1 billion by the end of 2026 Billion € ~2.1 ▪ Implementation of the cost savings programs in full swing ~1.5 ~1.8 ▪ Annual cost savings of €1 billion achieved by year-end 2024 1.0 ~1.3 ▪ Cumulative one-time costs of ~€1.8 billion expected by end of 2026
Slide 14: We are committed to attractive shareholder distributions
We are committed to attractive BASF’s shareholder distribution policy shareholder Shareholder distributions via dividends and distributions share buybacks 2025-2028: ▪ Dividend proposal for 2024 to the Annual Shareholders’ Meeting of €2.25 per share At least ▪ In total, we will pay out €2.0 billion1
Slide 15: Outlook 2025 for BASF Group
Outlook 2025 for BASF Group BASF Group 2024 BASF Group 2025 Zhanjiang startup BASF Group 2025 without actual forecast impact 20251 Zhanjiang startup impact1 EBITDA before special 7.9 8.0 – 8.4 minus ~0.4 8.4 – 8.8 items (billion €) Free cash flow 0.7 0.4 – 0.8 minus ~0.8 1.2 – 1.6 (billion €) CO2 em
Slide 16: Priorities for 2025
Priorities for 2025 Execute on value-enhancing portfolio measures Successfully start up new Verbund site in Zhanjiang Reduce costs structurally and remain disciplined on capex Winning Culture Value Creation 16 February 28, 2025 | BASF Conference Call: FY 2024
Slide 17: We create chemistry
O- BASF We create chemistry
Slide 18: Outlook 2025 by segment
Outlook 2025 by segment EBITDA before special items1 Segment cash flow 1 Million € 2024 2025 forecast 2024 2025 forecast Chemicals 1,342 Slight decrease -2,051 Considerable increase Materials 1,805 Slight increase 766 At prior-year level Industrial Solutions2 1,437 Slight increase 1,102 Slight decre
Slide 19: BASF Group Q4 2024 and FY 2024: Financial figures
BASF Group Q4 2024 and FY 2024: Financial figures Financial figures Q4 2024 Change FY 2024 Change Million € % Million € % Sales 15,856 -0.1 65,260 -5.3 EBITDA before special items 1,567 19.0 7,858 2.4 EBITDA 1,187 8.0 6,681 -7.0 EBIT before special items 554 89.4 3,911 2.8 EBIT -422 57.6 2,033 -9.2
Slide 20: Chemicals
Chemicals EBITDA before special items (million €) Segment cash flow (million €) 1,342 1,167 103 95 -609 -726 -936 -2,051 Q4 2023 Q4 2024 FY 2023 FY 2024 Q4 2023 Q4 2024 FY 2023 FY 2024 Sales development Total Volumes Prices Currencies Portfolio Q4 2024 vs. Q4 2023 ▲ 3.9% ▲ 5.4% ▼ -1.5% ▼ -0.1% – FY
Slide 21: Materials
Materials EBITDA before special items (million €) Segment cash flow (million €) 1,805 1,369 1,650 380 766 365 332 246 Q4 2023 Q4 2024 FY 2023 FY 2024 Q4 2023 Q4 2024 FY 2023 FY 2024 Sales development Total Volumes Prices Currencies Portfolio Q4 2024 vs. Q4 2023 ▼ -3.2% ▼ -1.8% ▼ -1.2% ▼ -0.1% ▼ -0.1
Slide 22: Industrial Solutions
Industrial Solutions EBITDA before special items (million €) Segment cash flow (million €) 1,161 1,292 965 868 314 303 250 208 Q4 2023 Q4 2024 FY 2023 FY 2024 Q4 2023 Q4 2024 FY 2023 FY 2024 Sales development Total Volumes Prices Currencies Portfolio Q4 2024 vs. Q4 2023 ▲ 0.5% ▲ 2.5% ▼ -0.8% ▼ -0.4%
Slide 23: Nutrition & Care
Nutrition & Care EBITDA before special items (million €) Segment cash flow (million €) 503 814 565 157 168 130 -38 -31 Q4 2023 Q4 2024 FY 2023 FY 2024 Q4 2023 Q4 2024 FY 2023 FY 2024 Sales development Total Volumes Prices Currencies Portfolio Q4 2024 vs. Q4 2023 ▼ -0.5% ▼ -1.7% ▲ 2.9% ▼ -0.5% ▼ -1.3
Slide 24: Surface Technologies
Surface Technologies EBITDA before special items (million €) Segment cash flow (million €) 1,520 1,488 1,375 448 925 340 312 211 Q4 2023 Q4 2024 FY 2023 FY 2024 Q4 2023 Q4 2024 FY 2023 FY 2024 Sales development Total Volumes Prices Currencies Portfolio Q4 2024 vs. Q4 2023 ▼ -9.4% ▼ -8.3% 0.0% ▼ -1.0
Slide 25: Agricultural Solutions
Agricultural Solutions EBITDA before special items (million €) Segment cash flow (million €) 2,270 1,861 1,746 1,938 959 394 572 221 Q4 2023 Q4 2024 FY 2023 FY 2024 Q4 2023 Q4 2024 FY 2023 FY 2024 Sales development Total Volumes Prices Currencies Portfolio Q4 2024 vs. Q4 2023 ▲13.8% ▲18.3% ▲ 2.1% ▼
Slide 26: Review of "Other"
Review of “Other” Financial figures Q4 2024 Q4 2023 FY 2024 FY 2023 Million € Million € Million € Million € Sales 876 855 3,312 3,220 EBITDA before special items 16 -99 -578 -466 of which Costs of corporate research -54 -59 -183 -227 Costs of corporate headquarters -59 -49 -232 -222 Foreign currency