Basf Se S/Adr (BASFY) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, ladies and gentlemen. On behalf of BASF, I would like to welcome you to our conference call on the first quarter twenty twenty six results. Today's presentation is being recorded. All participants will be in listen only mode throughout. The presentation will be followed by a question and answer session. Today's 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 future developments and results outlined therein. These are dependent on a number of factors. They involve various risks and uncertainties, and they are based on assumptions that may not prove to be accurate. BASF does not assume any obligation to update the forward looking statements contained in this presentation above and beyond the legal requirements. With me on the call today are CFO, Dirk Elmermann and Christian Jutze, President of BASF's Corporate Finance Division. Please be aware that we have already posted the speech on our website at bsf.com/q12026. Now I would like to hand over to Dirk. Yes. Good morning, everyone. Christian Jutze and I welcome you to our Q1 conference call for analysts and investors right before our Annual Shareholders Meeting today. The first quarter unfolded in two phases. In the first two months, we saw moderate growth driven by China. Since March, developments have been shaped by the conflict in The Middle East and the closure of the Strait Of Hormuz to seaborne transport of oil, gas and chemicals. In this demanding market environment, BASF demonstrated resilience and achieved EBITDA before special items of €2,400,000,000 compared with EUR2.5 billion in the prior year quarter. L...