Basf Se · XETR:BAS
Basf — Investor Day (September 2024)
16 slides from Basf's investor day presentation, Sep 27, 2024
Slide 1: Battery Materials
Battery Materials Anup Kothari Member of the Board of Executive Directors BASF Capital Markets Day, September 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: We remain committed to long-term ambition of becoming a leading global CAM supplier
We remain committed to long-term ambition of becoming a leading global CAM supplier Mid-term target to further build relevant positions with cell manufacturers & OEMs, >30% EBITDA bsi margin excl. metals The momentum has slowed down significantly in 2024, especially outside of China 1 Leverage exi
Slide 4: The EV market saw significant growth in the last five years with the highest adoption rate in China
The EV market saw significant growth in the last five years with the highest adoption rate in China Global xEV production1 Penetration rates in 2023 differ Million units strongly by region 15.1 8% RoW 33 67 CAGR 10% Americas ~57% 11.1 20% Europe 17 83 6.6 9 91 63% China 3.4 2.5 xEV Other 2019 2020 2
Slide 5: The momentum has slowed down significantly in 2024, especially outside of China
The momentum has slowed down significantly in 2024, especially outside of China 2024 xEV growth rate1 has halved with … and OEMs, cell and CAM producers have announced delays to their capital latest FC driven by reduced demand … commitments in the Western hemisphere 2024 FC 2024 FC Jan Sep Global gr
Slide 6: We took decisive actions to adapt in light of recent market developments
We took decisive actions to adapt in light of recent market developments Decision not to invest in a nickel-cobalt refining complex June 2024 in Indonesia Global battery metals market has changed significantly – supply options have evolved and with that access to battery grade nickel Substantial
Slide 7: Long-term growth outlook remains valid, though adoption scenarios are different by region
Long-term growth outlook remains valid, though adoption scenarios are different by region and uncertainties persist Global xEV market forecast1 Million units Europe North America China 50 45 24 25 25 25 40 35 20 20 20 30 15 15 15 25 11 9 10 10 8 10 20 5 3 5 5 15 1 10 0 0 0 2023 2024 2025 2026 2027 2
Slide 8: Cathode active material remains a significant growth opportunity
Cathode active material remains a significant growth opportunity with Europe and North America representing the majority of NCx markets Global CAM market forecast1 ktons Europe North America China CAGR ~21% ~5,900 ~150 ~1,200 ~100 ~1,000 ~1,200 ~3,200 8% RoW 17% North America 20% Europe ~1,500 55% C
Slide 9: Recycling presents an attractive long-term opportunity
Recycling presents an attractive long-term opportunity, but significant recycling capacities will only be needed toward end of the decade Available material for recycling in EU The recycling market in Europe is driven by geopolitical risk mitigation and ktons black mass regulations ~1,000 CAGR ~28%
Slide 10: Our mid-term strategic priorities
Our mid-term strategic priorities We are building on our proven strengths and de-risking our approach Our targets given recent market dynamics Further build relevant positions with cell manufacturers and OEMs >30% EBITDA bsi margin % excl. metals 1 2 3 Leverage existing Strategic sourcing De-risk fu
Slide 11: With our setup and existing state-of-the-art assets, we are well-positioned to meet customer demand
Leverage existing setup 1 With our setup and existing state-of-the-art assets, we are well- positioned to meet customer demand over the next years BASF TODA Battery Key facts PCAM plant Materials CAM plants Harjavalta, Onoda, Japan, Michigan & Ohio Finland with R&D center ~€0.9 billion 2023 sales CA
Slide 12: We have built a foundation for battery recycling that will enable us to expand
Leverage existing setup We have built a foundation for battery recycling that will enable us to expand in the future We are committed to fulfilling our customers’ sustainability ambitions European recycling cluster in Schwarzheide, Germany is operational with a black mass production and a prototype
Slide 13: Strategic sourcing for metals & PCAM ensures secure, resilient and competitive supply
Strategic sourcing 2 Strategic sourcing for metals & PCAM ensures secure, resilient and competitive supply while decreasing capital requirements We source responsibly and are actively engaged in industry initiatives Metal management for more effective risk Expertise-based PCAM sourcing with manageme
Slide 14: We will de-risk our future growth path by continuing to adapt to market conditions
De-risk future growth path 3 We will de-risk our future growth path by continuing to adapt to market conditions & assess collaborations along the value chain Focused and reduced spending pattern Leverage partners for growth Ensure customer commitments Leverage existing CAM assets Leverage broad
Slide 15: We remain committed to long-term ambition of becoming a leading global CAM supplier
We remain committed to long-term ambition of becoming a leading global CAM supplier Mid-term target to further build relevant positions with cell manufacturers & OEMs, >30% EBITDA bsi margin excl. metals The momentum has slowed down significantly in 2024, especially outside of China 1 Leverage exi
Slide 16: BASF – We create chemistry
O- BASF We create chemistry