Slide 1: Analyst Conference Call Q3 2024
Analyst Conference Call Q3 2024 October 30, 2024 1 October 30, 2024 | BASF Analyst Conference Call Q3 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: EBITDA before special items above prior-year quarter, especially driven by higher volumes
EBITDA before special items above prior-year quarter, especially driven by higher volumes ▪ Sales stable on Q3 2023 level at €15.7 billion Sales development Q3 2024 vs. Q3 2023 Volumes Prices Currency Portfolio ▪ Volumes excluding precious and base metals increased by 7% (including metals, volumes B
Slide 4: Snapshot Q3 2024: Market development and BASF's performance
Snapshot Q3 2024: Market development and BASF’s performance Market environment Volume development Specific margin Chemicals Materials Core businesses Industrial Solutions Nutrition & Care 1 Surface Technologies Standalone businesses Agricultural Solutions Impact on BASF’s EBITDA before special items
Slide 5: Global light vehicle production remains under pressure
Global light vehicle production remains under pressure ▪ In 2024, global light vehicle production is expected to decline by ~2%; at the start of the year, stable to slightly declining production was assumed ▪ Western Europe − In 2023, production had benefited from pent-up demand and the replenishmen
Slide 6: EBITDA before special items increased compared with Q3 2023 due to higher core business earnings
EBITDA before special items increased compared with Q3 2023 due to considerably higher earnings contributions of core businesses BASF Industrial Nutrition Surface Agricultural BASF Group Chemicals Materials Solutions & Care Technologies Solutions Other Group 7 4 3 EBITDA before special items 124 Q3
Slide 7: Swift adjustment of production structures in Ludwigshafen supported EBITDA growth
Swift adjustment of production structures in Ludwigshafen supported EBITDA before special items growth in Materials segment Product group Closure of plants in Ludwigshafen Year Polyamide ▪ Adipic acid 2023-2026 value chain ▪ Precursors cyclohexanol and cyclohexanone ▪ Soda ash ▪ Caprolactam Ammonia
Slide 8: BASF Group Q3 2024: Key financial figures
BASF Group Q3 2024: Key financial figures EBITDA before special items EBITDA margin before special EBIT before special items Q3 2024 vs. Q3 2023 items, Q3 2024 vs. Q3 2023 Q3 2024 vs. Q3 2023 €1,622 million 10.3% €635 million +5% 9.8% +10% Net income Operating cash flow Free cash flow Q3 2024 vs. Q3
Slide 9: Cash flow development in Q3 2024 and Q1–Q3 2024
Cash flow development in Q3 2024 and Q1–Q3 2024 Q3 2024 Q1–Q3 2024 Q3 2024 vs. Q3 2023 Million € Million € ▪ Cash flows from operating activities decreased by €0.6 billion to €2.1 billion, 2,500 3,489 mainly due to lower cash inflows from 3,300 changes in net working capital 2,052 2,000 ▪ Payments m
Slide 10: Strong balance sheet
Strong balance sheet Balance sheet September 30, 2024, vs. September 30, 2023 Billion € ▪ Total assets decreased by €3.2 billion to €7 .4 billion 82.6 82.6 79.4 79.4 mainly due to lower current assets ▪ Net debt amounted to €1 .7 billion compared with €18.9 billion at the end 40.3 of September 2023
Slide 11: We are on track to deliver targeted ~€2.1 billion total cost savings
We are on track to deliver targeted ~€2.1 billion total cost savings by the end of 2026 Billion € Total cost savings (run rate) ~€2.1 billion ▪ Implementation of the cost savings programs announced in February 2023 in full swing 2.0 ▪ Identification of cost savings measures related to Additional cos
Slide 12: New publication date for audited BASF Report 2024
New publication date for audited BASF Report 2024 due to extended sustainability reporting requirements1 Full-year results 2024 Annual Report 2024 February 28, 2025 March 21, 2025 (PDF, short online report) (PDF, full online report) Short unaudited online report Audited annual report ◼ Full-year res
Slide 13: Outlook 2024 for BASF Group
Outlook 2024 for BASF Group Outlook 2024 EBITDA before special items €8.0 billion – €8.6 billion1 Free cash flow €0.1 billion – €0.6 billion CO2 emissions 16.7 million – 17.7 million metric tons 1 BASF expects to reach the low end of the EBITDA before special items forecast range for the full year 2
Slide 14: We create chemistry
O- BASF We create chemistry
Slide 15: BASF Group Q3 2024 and Q1–Q3 2024: Financial figures
BASF Group Q3 2024 and Q1–Q3 2024: Financial figures Financial figures Q3 2024 Change Q1–Q3 2024 Change Million € % Million € % Sales 15,739 0.0 49,403 -6.8 EBITDA before special items 1,622 5.0 6,291 -1.0 EBITDA 1,277 -6.3 5,494 -9.6 EBIT before special items 635 10.3 3,357 -4.4 EBIT 250 -36.5 2,45
Slide 16: Chemicals
Chemicals EBITDA before special items Segment cash flow Million € Million € 800 0 -300 600 -200 -171 -327 453 444 -400 -363 -700 400 342 252 200 -600 -1,100 95 -1,325 0 -800 -1,500 Q3 Q4 Q1 Q2 Q3 Q3 2023 Q3 2024 Q1–Q3 2023 Q1–Q3 2024 2023 2024 Sales development Total Volumes Prices Currencies Portfo
Slide 17: Materials
Materials EBITDA before special items Segment cash flow Million € Million € 600 600 1,200 508 1,037 484 448 400 360 380 400 800 354 299 520 200 200 400 0 0 0 Q3 Q4 Q1 Q2 Q3 Q3 2023 Q3 2024 Q1–Q3 2023 Q1–Q3 2024 2023 2024 Sales development Total Volumes Prices Currencies Portfolio 1.9% 3.5%
Slide 18: Industrial Solutions
Industrial Solutions EBITDA before special items Segment cash flow Million € Million € 400 800 1,200 332 320 978 301 600 900 250 207 416 200 400 356 600 565 200 300 0 0 0 Q3 Q4 Q1 Q2 Q3 Q3 2023 Q3 2024 Q1–Q3 2023 Q1–Q3 2024 2023 2024 Sales development Total Volumes Prices Currencies Portfolio 7.4%
Slide 19: Nutrition & Care
Nutrition & Care EBITDA before special items Segment cash flow Million € Million € 400 800 800 600 600 262 201 200 183 400 400 346 130 104 200 157 200 52 8 0 0 0 Q3 Q4 Q1 Q2 Q3 Q3 2023 Q3 2024 Q1–Q3 2023 Q1–Q3 2024 2023 2024 Sales development Total Volumes Prices Currencies Portfolio 1.3% 6.0%
Slide 20: Surface Technologies
Surface Technologies EBITDA before special items Segment cash flow Million € Million € 600 800 1,500 1,200 1,041 404 600 400 356 366 341 340 900 400 714 307 600 200 232 200 300 0 0 0 Q3 Q4 Q1 Q2 Q3 Q3 2023 Q3 2024 Q1–Q3 2023 Q1–Q3 2024 2023 2024 Sales development Total Volumes Prices Currencies Port
Slide 21: Agricultural Solutions
Agricultural Solutions EBITDA before special items Segment cash flow Million € Million € 500 2,500 1,200 1,200 1,174 2,049 1,000 1,000 400 2,000 853 902 1,544 800 800 300 1,500 612 225 600 600 200 1,000 400 400 100 500 200 200 49 0 0 0 0 Q3 2023 Q3 2024 Q1–Q3 2023 Q1–Q3 2024 Q3 2023 Q3 2024 Q1–Q3 20
Slide 22: Review of "Other"
Review of “Other” Financial figures Q3 2024 Q3 2023 Million € Million € Sales 829 689 EBITDA before special items -96 -8 of which Costs of corporate research -56 -64 Costs of corporate headquarters -55 -54 Foreign currency results, hedging and other measurement effects -26 -3 Other businesses 41 29