Basf Se · XETR:BAS
Basf — Investor Day (October 2025)
19 slides from Basf's investor day presentation, Oct 2, 2025
Slide 1: Vertical integration at its core: Polyurethanes value chain
Vertical integration at its core: Polyurethanes value chain Ramkumar Dhruva, President Monomers Martin Jung, President Performance Materials Antwerp, October 2, 2025
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: The Materials segment comprises two divisions with complementary traits
The Materials segment comprises Role in BASF’s portfolio and value two divisions with complementary traits creation levers Monomers division Supplies a broad portfolio of large-volume monomers, basic polymers and inorganic chemicals Core businesses A world leader in isocyanates, which are key co
Slide 4: Materials segment
Materials segment The Materials segment accounts for more than 30% of sales of our core businesses The polyurethanes value chain accounts for more than 50% of sales in the Materials segment 3 October 2, 2025 | BASF Capital Market Update
Slide 5: BASF runs two complementary business models holding top market positions
BASF runs two complementary business models holding top market positions Monomers Performance Materials Ammonia and Isocyanates Polyamides inorganic chemicals Polyurethanes Engineering plastics Specialties 29%1 9%1 11%1 26%1 20%1 5%1 Our key products are in leading market positions… MDI TDI PA 6 ext
Slide 6: With our global polyurethanes production network, regional R&D and creation centers, we are close to our customers
With our global polyurethanes production network, regional R&D and creation centers, we are close to our customers Antwerp Wyandotte Ludwigshafen Chongqing Yeosu Geismar Shanghai Monomers division Production site Joint venture site Sales of the polyurethanes value chain by region1 2024 Performance M
Slide 7: BASF operates an integrated polyurethanes value chain
BASF operates an integrated polyurethanes value chain1 Monomers division Monomers ~25% of sales to Performance Materials Is driven by a commodity mindset that centers on driving asset effectiveness, deployment of best-in-class production technologies and Chlorine TDI continuous cost discipline O
Slide 8: MDI: Versatile and growing
Market growth MDI: Versatile and growing in past 5 years We aim to maintain our global market share through investments, innovation and joint value +18% chain steering Market Regional BASF Market growth +312kt in 2024, +3.7% (+1.2pp above global GDP) sales distribution Growth driven by China, wh
Slide 9: We have a 50-year history of profitable growth in MDI
We have a 50-year history of profitable growth in MDI BASF MDI plants Final phase of the MDI expansion project in Geismar, Louisiana 1982 2005 2015 2025 Geismar Additional upstream units and a Global Global Global capacity capacity capacity splitter to increase production 900 kt/a 1,800 kt/a 2,000
Slide 10: Innovation and sustainability go hand in hand
Innovation and sustainability go hand in hand We focus our innovations on sustainable solutions and cost improvements B2Last® Lupranat® ZERO Soft foam recycling Process optimization Our proprietary isocyanate- We introduced the first Recyclability of flexible PU Continuous optimization of based reac
Slide 11: BASF sets global benchmarks for MDI product carbon footprints
BASF sets global benchmarks for MDI product carbon footprints Standard grades Special sustainability PCF – today (t CO2 / t MDI) Scope 1-3 grades BASF sites vs regional peers Further reduction vs standard BASF grades > -20% CO2 negative Antwerp 2nd best Laggard Geismar 2nd best Laggard China Korea C
Slide 12: TDI: We manage for value
Market growth TDI: We manage for value in past 5 years BASF’s global capacities remain fully utilized in 2025, despite the TDI market being long with new +11% capacity additions outpacing global market growth Market Market expected to grow +80kt, ~3% in 2025, mainly driven by Asia Regional BASF
Slide 13: Polyurethane systems
PU systems market Polyurethane systems growth in past 5 years Customized solutions make life more comfortable, safer and help to save energy +8% Market Broad range of markets and applications from appliances, Regional BASF construction, transportation to footwear and CASE2 sales distribution Mar
Slide 14: Cellasto®
Automotive production Cellasto® in past 5 years Reducing noise, vibration and harshness in more than 400 car platforms globally +20% Business 60 years of experience in designing Cellasto® suspension parts Regional BASF As Tier-1 supplier, we excel in formulation know-how, engineering sales distr
Slide 15: We make polyurethane circularity a reality
New meltable polyurethane foams from post-industrial waste We make polyurethane circularity a reality Flexible polyurethane foam for Vitra chairs Post-consumer waste from end-of-life refrigerators as feedstock Rigid polyurethane foam for Liebherr fridges 14 October 2, 2025 | BASF Capital Market Upda
Slide 16: Our local production network and strong customer intimacy enables growth in Asia
Our local production network and strong customer intimacy enables growth in Asia Asia is the major growth driver of global chemical production and thus similarly of polyurethanes Dahej Chongqing While China is the largest intraregional Cellasto® capacity expansion MDI splitter Planned startup: 2
Slide 17: We optimize business steering across the entire polyurethanes value chain
We optimize business steering across the entire polyurethanes value chain BASF PU1 Peer 11 Peer 21 Peer 31 Peer 41 Relative earnings contribution of EBITDA bsi EBITDA Adj. EBITDA Operating Operating BASF’s polyurethanes value chain has margin margin margin EBIT margin been very consistent over the
Slide 18: The polyurethanes value chain will make a significant contribution to the EBITDA bsi increase
The polyurethanes value chain will make a significant contribution to the EBITDA bsi increase BASF is targeting for 2028 Materials segment Targeted EBITDA bsi increase of €750 – €850 million Million € between 2023 and 2028 +8% CAGR 1,650 2023 2028 17 October 2, 2025 | BASF Capital Market Update
Slide 19: BASF - We create chemistry
O=- BASF We create chemistry