Basf Se S/Adr (BASFY) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Well, ladies and gentlemen, good morning and a very warm welcome to our half-year press conference of BSF SE, which today is done as a team's call. Thank you very much that you have dialed in. And today we are going to present to you the financial figures for the second quarter 2025. And you're going to be talking to Markus Kamit, who is the chairman of the Board of Executive Directors, and Dirk-Elfer Milvermann, CFO of BASF. Let's start right away. Just a few technical pieces of housekeeping. The conference language is German. with a simultaneous interpretation into English, and the charts that you are going to see in the Teams meeting are in German, and the English version is available for a download on our press website, and you can see the link in the Teams chat. And I give the floor to you. Thank you, Nina. Good morning, and welcome to our Teams or video call. Today we are presenting our results for the second quarter and the first half year of 2025. On July 11th, we pre-released some of our key figures due to the adjustment of our full year guidance. Dirk and I will provide you with more details today and the rationale for the revised outlook. Before we take a closer look at the sales development, let me give you a brief overview of the quarter. BSF generated EBITDA before special items of around 1.8 billion euros in the second quarter of 2025. The agricultural solutions segment considerably increased earnings. The surface technologies and nutrition and care segments achieved slightly higher earnings. In the base chemicals businesses, margins remained under pressure due to high product availability on the market. Let's now take a look at the sales performance of BASF Group. Overall, sales were almost at the level of the prior year quarter, thanks to volume grow...