BASF Capital Market Story
Dr. Hans-Ulrich Engel
Chief Financial Officer
Bernstein 17th Strategic Decisions Conference
September 24, 2020
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 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. Such risk factors include those discussed in Opportunities and Risks on pages 139 to 147 of the BASF Report 2019. BASF does not assume any obligation to update the forward-looking statements contained in this presentation above and beyond the legal requirements.
2 | Sept. 2020 | BASF Capital Market Story |
Agenda
1 | 2 | 3 | ||
At a glance | Strategy implementation | Unique position to capture | ||
in full swing | growth in Asia | |||
4 | 5 | 6 | ||
Battery materials driving | Pushing the transition to a | Reporting | ||
electromobility and future | sustainable economy | |||
growth | ||||
3 | Sept. 2020 | BASF Capital Market Story |
What is driving BASF's future growth?
Global trends provide tremendous opportunities for growth in the chemical industry
Demographic change:
Share of population aged 60 and over worldwide
Population growth:
Driven by the emerging markets
China the largest market:
Share of global chemical market
+100%
2020 to 2050
+25%
2020 to 2050
~50%
by 2030
Digitalization:
Rapid growth in volume of data
Climate change:
Required reduction of greenhouse gas emissions to achieve the 2°C goal
Electromobility:
Growing demand for battery materials until 2030
456
zettabytes in 2030
-70%
by 2050
+25%
per year
4 | Sept. 2020 | BASF Capital Market Story Sources: UN, IEA, UBS Foresight, BASF |
Unique position to deliver long-term value
Unique Verbund concept
- 6 Verbund sites globally
- 361 additional production sites worldwide
- 6.4 million metric tons of CO2 prevented globally in 2019
Industry-leading innovation platform
- €2.2 billion R&D expenditures in 2019
- ~11,000 employees in R&D
- Sales of ~€10 billion in 2019 with products launched during last 5 years
Strong and expanding local presence in fast growing Asian market
- 2 Verbund sites already
- >100 production sites
- ~€14.2 billion1 sales in 2019
- Strong volume and earnings development of BASF in Greater China
Creating value to society and contributing to a sustainable development
- Target CO2-neutral growth until 2030
- Carbon management bundles measures to reduce greenhouse gas emissions
- Achieve €22 billion in Accelerator sales by 2025 (2019: €15.0 billion)
Progressive dividend policy
- Aim to increase the dividend per share every year
- Dividend of €3.30 per share for 2019
5 | Sept. 2020 | BASF Capital Market Story 1 Sales by location of customer. Only includes sales from BASF entities fully consolidated according to IFRS 10/11 |
Our ambitious corporate targets - financial and nonfinancial targets
Grow sales volumes faster than global chemical production every year | Achieve a return on capital employed (ROCE)1 | considerably above the | |
cost of capital percentage every year | |||
Increase EBITDA before special items by 3% to 5% per year | Increase the dividend per share every year | |
based on a strong free cash flow | ||
Grow CO2-neutrally until 2030 (compared with baseline 2018) | Achieve €22 billion in Accelerator sales2 by 2025 | |
1 | Return on capital employed (ROCE) is a measure of the profitability of our operations. | |
6 | Sept. 2020 | BASF Capital Market Story 2 | We calculate this indicator as the EBIT generated by the segments as a percentage of the average cost of capital basis |
Accelerator products are products that make a substantial sustainability contribution in the value chain. |
Further nonfinancial targets
Reduce worldwide process safety incidents per 200,000 working hours to ≤ 0.1 by 2025
Introduce sustainable water management at all production sites in water stress areas and at all Verbund sites by 2030
Increase the proportion of women in leadership positions with disciplinary responsibility to 30% by 2030
Reduce the worldwide lost-time injury rate per 200,000 working hours to ≤ 0.1 by 2025
More than 80% of our employees feel that at BASF, they can thrive and perform at their best
Cover 90% of our relevant spend1 with sustainability evaluations by 2025 Have 80% of our suppliers improve their sustainability performance upon re-evaluation
7 | Sept. 2020 | BASF Capital Market Story 1 We understand relevant spend as procurement volumes with relevant suppliers. |
BASF's diversified portfolio with market-oriented segment structure provides resilience and supports customer orientation
Surface
Technologies
Industrial | Catalysts, Coatings | Nutrition |
Solutions | & Care | |
Dispersions & Pigments, | Care Chemicals, | |
Performance Chemicals | Nutrition & Health |
Materials | Agricultural | ||||
Performance | Solutions | ||||
Materials, Monomers | Agricultural Solutions | ||||
Chemicals | |||||
Petrochemicals, | |||||
Intermediates | Other1 | ||||
Verbund | |||||
Regions and countries | |||||
Service units (e.g., business services, procurement, engineering) | |||||
Corporate center (governance units) | |||||
8 | 1 | Since the signing of a divestment agreement, Construction Chemicals is reported as a discontinued operation and | |||
Sept. 2020 | BASF Capital Market Story | the respective assets are reported under Other |
Each segment has a clear and compelling path forward
Chemicals
Materials
Industrial Solutions
Surface Technologies
Nutrition & Care
Agricultural Solutions
- of sales 20191 EBIT bsi 20191
Core theme
Innovation focus
Capex relevance
M&A relevance
Sustainability
16%
€0.8 billion
Verbund
Improved or new processes
ChemCyclingTM
20%
€1.0 billion
Advanced materials
Applications, biomaterials
Bio-based materials
14%
€0.8 billion
Additives platform
Formulations
More from less
22%
€0.7 billion
Surface modification platform
Battery materials, surface effects
Low-emission mobility
10%
€0.8 billion
Consumer ingredients
Biotechnology, formulations
Bio-based and natural, traceability
13%
€1.1 billion
Integrated offering of crop protection, seeds & traits, digital
Crop protection, seeds & traits, digital farming
Better with less
9 | Sept. 2020 | BASF Capital Market Story 1 Other (sales 2019: €2.9 billion, EBIT bsi 2019: €(581) million) not depicted on this slide |
Our unique Verbund concept is one of BASF's greatest assets with multiple benefits strengthening the portfolio
- 6 integrated Verbund sites worldwide
- 6.4 million metric tons of CO2 emissions prevented globally in 2019
Production
Value Chains
- Ensure competitive supply of key raw materials and products to all segments
Technologies | Leverage technological advantages |
and innovation across all segments |
Verbund
Digitalization
Harvest the advantages offered
by digitalization across BASF
Markets | | Create customer relevance |
through size and broad portfolio |
10 Sept. 2020 | BASF Capital Market Story
We operate close to our customers in all regions worldwide
North America | Europe | |||||
Sales (million €) | 15,948 | Sales (million €) | 23,827 | |||
EBIT (million €) | 692 | EBIT (million €) | 2,125 | |||
Employees | 19,355 | Employees | 72,153 |
South America, Africa, Middle East
Sales (million €) | 5,338 | ||
EBIT (million €) | 302 | ||
Employees | 7,486 |
BASF sales by industry 2019 | ||||||
Direct | > 20% | Chemicals and plastics | ||||
customers | ||||||
10-20%1 | Agriculture | Consumer goods | Transportation | |||||
< 10%1 | Construction | Electronics | Energy and resources | Health and nutrition | |||||
Sales 2019 by location of customer; EBIT 2019 by location of company. The 2019 EBIT figures have been restated to reflect the | ||||||
11 | reclassification of income from non-integral companies accounted for using the equity method to net income from shareholdings. | |||||
Sept. 2020 | BASF Capital Market Story 1 In each case |
Asia Pacific
Sales (million €) | 14,203 |
EBIT (million €) | 1,082 |
Employees | 18,634 |
Regional centers Selected sites Verbund sites Planned Verbund site
Selected research and development sites
Guidance on the use of cash - clear priorities
Organic | Progressive | Portfolio | Share |
growth | dividend | upgrading | buybacks |
- ~€23.6 billion capex budget 2020-2024
- Around €2.1 billion R&D expenditures annually
- Aim to increase dividend per share every year
- Strong balance sheet supports dividend policy in times of slower free cash flow generation driven by weak macro environment
Strengthen portfolio by | Share buybacks are |
selective M&A opportunities | part of our toolbox but |
while maintaining price | are currently not being |
discipline | considered |
Focus the portfolio through | |
continued pruning | |
measures |
12 Sept. 2020 | BASF Capital Market Story
Investments in organic growth
- planned capex for 2020 reduced from €3.4 billion to €2.8 billion
Capex budget 2020-2024: €23.6 billion
100%
75%
50%
25%
0%
5% | Other1 | |||
1% | South America, Africa | |||
22% | Other (Infrastructure, R&D) | Middle East | ||
5% | Agricultural Solutions | 19% | North America | |
9% | Nutrition & Care | |||
12% | Surface Technologies | 41% | Asia Pacific | |
5% | Industrial Solutions | |||
13% | Materials | |||
34% Chemicals | 34% Europe | |
35% Growth projects in Asia Pacific2 and battery materials
65% Investments
in ongoing business
By segment | By region | By type of investment |
13 | 1 Alternative sites currently being investigated |
Sept. 2020 | BASF Capital Market Story 2 Verbund site Guangdong, China; chemical production complex Mundra, India |
Industry-leading innovation platform
R&D expenditures 2019
Corporate research | Chemicals | |||||||
19% | 5% | |||||||
Materials | ||||||||
9% | ||||||||
Agricultural | €2,158 million | Industrial Solutions | ||||||
9% | ||||||||
Solutions | ||||||||
Surface Technologies | ||||||||
41% | ||||||||
10% | ||||||||
Nutrition & Care | ||||||||
7% |
Key facts
- €2.2 billion R&D expenditures in 2019
- R&D expense to sales ratio ~4%
- ~11,000 employees in R&D
- ~1,000 new patents filed in 2019
- Research Verbund: Our 8 Academic Research Alliances are complemented by cooperations with ~300 universities and research institutes
- 2019: Sales of ~€10 billion with products launched during last 5 years
- Achieve €22 billion in Accelerator sales1 by 2025
- Peak sales potential of BASF's Agricultural Solutions innovation pipeline of >€7.5 billion between 2019 and 2029
14 | Sept. 2020 | BASF Capital Market Story 1 Accelerator products are products that make a substantial sustainability contribution in the value chain. |
BASF with increased dividend for 2019
Dividend per share
€
3.20 | 3.30 | ||||||||||
3.10 | |||||||||||
3.00 | |||||||||||
3 | 2.50 | 2.60 | 2.70 | 2.80 | 2.90 | ||||||
2.20 | |||||||||||
2 |
1
0 | |||||||||||
2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | ||
Yield1 | 3.7% | 4.6% | 3.7% | 3.5% | 4.0% | 4.1% | 3.4% | 3.4% | 5.3% | 4.9% | |
Dividend policy
- Aim to increase the dividend per share every year
Key facts 2019
- Dividend of €3.30 per share, an increase of 10 euro cents compared to 2018
- Total dividend payment of €3.0 billion fully covered by free cash flow of €3.7 billion
- Dividend yield of 4.9% based on the share price at year end
15 | Sept. 2020 | BASF Capital Market Story 1 Dividend yield based on share price at year end |
Agenda
1 | 2 | 3 | ||
At a glance | Strategy implementation | Unique position to capture | ||
in full swing | growth in Asia | |||
4 | 5 | 6 | ||
Battery materials driving | Pushing the transition to a | Reporting | ||
electromobility and future | sustainable economy | |||
growth | ||||
16 Sept. 2020 | BASF Capital Market Story
We create chemistry for a sustainable future
and aspire to be the leading chemical company for our customers
Innovation - with impact
Sustainability - live our purpose
Operations - be the leader
Digitalization - leverage across the company Portfolio - businesses with customer relevance People - drive high performance
Our customers will experience a new BASF
17 Sept. 2020 | BASF Capital Market Story
Transforming into an agile and customer-focused organization
Action fields
Embedding to bring services closer to customers
Streamlined headquarters and services
Regions with sharpened roles to increase customer focus
Simplification of process landscape
People working in an entrepreneurial performance culture
Progress report
On October 1, 2019, we completed the embedding of around 20,000 employees
Since January 1, 2020, the lean corporate center with ~1,000 employees is operating. In addition, the Global Business Services unit with ~8,800 employees was established
Regions with strengthened customer focus, supporting and enabling the businesses locally
Simplification measures on track: currently >180 projects ongoing, thereof >100 implemented
Empowering and incentivizing employees to take ownership in their area of expertise
18 Sept. 2020 | BASF Capital Market Story
The customer is at the center of all our activities
- our teams go above and beyond for our customers
- 3M is increasing its global output of key products to support increased demand due to COVID-19
- Demand for BASF products that are key components of 3M products increased significantly
- A global, cross-divisional BASF team pushed supply chains to the limits with BASF products being produced in the US, Germany and Mexico in support of 3M
- These tremendous efforts and 3M's commitment to health care workers across the world will put critical products in the hands of
those who need it for months and years to come
19 Sept. 2020 | BASF Capital Market Story
We have consistently refocused our portfolio towards innovative growth businesses1
Acquisitions
- Functional crop care
- Personal care and food ingredients
- Omega-3fatty acids
- Enzymes
- Battery materials
- Specialty plastics
- Refinish coatings
- Surface treatment
- Seeds and crop protection
- Polyamide business
BASF
core business
Selected transactions
2010−today
Divestitures
- Styrenics
- Fertilizers
- Natural gas trading and storage
- Custom synthesis business
- Textile chemicals
- Polyolefin catalysts
- Industrial coatings
- Leather chemicals
- Water and paper chemicals
- Oil & gas
~€8.8 billion sales in emerging and innovation-driven businesses
~€26.0 billion sales in businesses with decreased differentiation potential
20 | Sept. 2020 | BASF Capital Market Story 1 Selected, closed transactions 2010-today |
Portfolio measures expected to be closed in 2020
Lone Star Funds to acquire BASF's construction chemicals business
- Sales 2019: ~€2.6 billion
- BASF and Lone Star Funds signed agreement for the acquisition of BASF's construction chemicals business in December 2019
- Purchase price of €3.17 billion1
- Closing is expected in Q3 20202
DIC to acquire BASF's pigments business
- Sales 2018: ~€1 billion
- BASF and DIC reached an agreement on the acquisition of BASF's pigments business in August 2019
- Purchase price of €1.15 billion1
- Closing is expected in Q4 20202
21 | Sept. 2020 | BASF Capital Market Story 1 On a cash and debt-free basis; 2 Subject to the approval of the relevant competition authorities |
Clear acquisition criteria
Strategic acquisition criteria
We want to acquire businesses which …
- create more value as part of BASF's Verbund
- help achieve relevant market positions
- drive innovation or technological differentiation
- enable new and sustainable business models
Financial acquisition criteria
We want to acquire businesses which …
- provide a return on capital employed above the WACC after full integration into BASF Group
- are EPS accretive by year three at the latest
- contribute to growth of EBITDA before special items
22 Sept. 2020 | BASF Capital Market Story
Excellence Program 2019 - 2021: On track to achieve the targeted annual EBITDA contribution
Annual EBITDA contribution1
One-time costs2
Category
Operational excellence
Leaner structures
Innovation
Simplification
2019 actual | 2020 | 2021 | ||
€0.6 billion | €1.3 - €1.5 billion | €2.0 billion | ||
€0.5 billion | €0.3 - €0.4 billion | €0.05 - €0.15 billion | ||
Measures focused on production, logistics and planning
Personnel cost savings; reduction of 6,000 positions targeted globally by end of 2020
R&D cost reduction via focusing budgets
Increased process efficiency, e.g., in procurement
23 | Sept. 2020 | BASF Capital Market Story 1 Run rate; 2 One-time costs in the respective year |
Agenda
1 | 2 | 3 | ||
At a glance | Strategy implementation | Unique position to capture | ||
in full swing | growth in Asia | |||
4 | 5 | 6 | ||
Battery materials driving | Pushing the transition to a | Reporting | ||
electromobility and future | sustainable economy | |||
growth | ||||
24 Sept. 2020 | BASF Capital Market Story
Asia Pacific is the growth region for global chemical production with China as the major driver
Real chemical production excluding pharmaceuticals | ||||||||||||||||
billion US$ | CAGR1 +2.8% | Middle East, Africa | ||||||||||||||
Global GDP CAGR +2.6% | ||||||||||||||||
Middle East, Africa | 4% | (CAGR +3%) | ||||||||||||||
Europe | ||||||||||||||||
4% | ||||||||||||||||
15% | (CAGR +1%) | |||||||||||||||
Europe | ||||||||||||||||
South America | ||||||||||||||||
Greater | 17% | |||||||||||||||
South America | 2% | (CAGR +2%) | ||||||||||||||
China | ||||||||||||||||
2030: ~5,500 | ||||||||||||||||
2019: ~4,000 | 3% | Greater China | ||||||||||||||
43% | ||||||||||||||||
North America | ~50% (CAGR +4%) | North America | ||||||||||||||
16% | 14% | (CAGR +2%) | ||||||||||||||
Rest of Asia Pacific | Rest of Asia Pacific | |||||||||||||||
15% | ||||||||||||||||
16% | (CAGR +2%) | |||||||||||||||
25 | Sept. 2020 | BASF Capital Market Story Source: BASF 1 Real chemical production excluding pharmaceuticals; as of April 2020. |
BASF is active in Asia Pacific since 1885 and has a unique position to capture growth in the region
Nanjing
Hong Kong
Zhanjiang1
Kuantan
Kuala Lumpur
Regional center
Verbund sites
Selected sites
R&D/Technical centers
Shared Services Center
BASF Group in Asia Pacific (2019)
- BASF is present in 19 markets
- >100 production sites1
- ~125 sales offices2
- 18,634 employees3
- ~€14.2 billion sales4
- ~€1.1 billion EBIT
- BASF investigates establishment of a second Verbund site in China
- Only selected sites and offices are depicted on this chart. Site and office numbers refer to companies of significant size where BASF holds a stake greater than 50%
- As of December 31, 2019
- Sales by location of customer. Only includes sales from BASF entities fully consolidated according to IFRS 10/11
26 Sept. 2020 | BASF Capital Market Story
BASF in Asia Pacific - a balanced portfolio
Sales1 by segment in 2019: €14.2 billion | Sales1 by sub-region in 2019: €14.2 billion |
100%
75%
50%
25%
0%
5% | Other | 100% | |||
5% | Agricultural Solutions | ||||
11% | Nutrition & Care | ||||
75% | |||||
25% | Surface Technologies | ||||
17% | Industrial Solutions | 50% | |||
25% | Materials | 25% | |||
12% | Chemicals | 0% | |||
2019
2% Australia, New Zealand
9% South Korea
11% South Asia
13% Japan
13% ASEAN
52% Greater China
2019
ASEAN: Singapore, Philippines, Vietnam, Thailand, Indonesia, Malaysia, Myanmar, Cambodia, Laos
South Asia: India, Pakistan, Bangladesh, Sri Lanka, Nepal
South Korea: Includes Mongolia
27 | Sept. 2020 | BASF Capital Market Story 1 Sales to third parties by location of customer; figures do not include sales of joint ventures consolidated at equity such as BASF-YPC Ltd., Nanjing, China |
Strong earnings development of BASF in Greater China over the past years
BASF's sales volumes outgrew Greater China's chemical production during the last five years
Real chemical production growth1 (CAGR 2015-2019)
% | ||
8 | ||
6 | ||
4 | ||
2 | ||
0 | ||
Global chemical | Chemical | Sales volumes of |
production | production Greater | BASF in Greater |
China | China |
Strong earnings development of BASF in Greater China
EBITDA before special items | EBITDA margin | |||||
million € | before special items | |||||
% | ||||||
2,000 | 20 | |||||
1,500 | 15 | |||||
1,000 | 10 | |||||
500 | 5 | |||||
0 | 0 | |||||
2015 | 2016 | 2017 | 2018 | 2019 |
28 | Sept. 2020 | BASF Capital Market Story 1 Source: BASF, real chemical production excluding pharmaceuticals (base year 2015) |
Guangdong is home of key customers from fast-growing industries
Strongly growing industrial base1 billion US$ (base year 2015)
800 | ~6.2% |
600 | |
CAGR |
400661
200
0
2019
Large chemical production2
billion US$ (base year 2015)
200 | ~3.9% |
150 | |
CAGR |
100161
50
0
2019
Market characteristics
Around 115 million residents in | |
Guangdong province (2019) | |
| GDP Guangdong (2019): |
~US$1,560 billion (to reach | |
GDP of South Korea soon) | |
GDP growth until 2035: 5-6% p.a. | |
| Key customer industries: |
Largest automotive production, China
- of motor vehicles built in Guangdong (1,000) (base year 2015)
4,000 | ~6.8% |
3,000 | CAGR |
2,000 | 3,120 |
1,000 | |
0 | |
2019 | |
Steady increase of private consumption3
billion US$ (base year 2015)
600 | ~5.4% | |
450 | CAGR | |
300 | 560 | Guangdong |
150 | Hong Kong |
0
2019
transportation, consumer goods, |
home and personal care, |
electronics |
Chemical products are generally |
undersupplied from local production |
1 Real value added, manufacturing Guangdong | ||
29 | 2 | Real chemical production Guangdong; inferred by gross output/value added ratio for China |
Sept. 2020 | BASF Capital Market Story 3 | Real private consumption Guangdong; 2018 and 2019 IHS forecast |
BASF intends to build a world-class Verbund site in South China to serve fast-growing customer industries in the region
Key facts
Wholly owned and operated by BASF
Project is currently in the feasibility phase
First plants expected to be operational in 2022
US$10 billion capital expenditures
to be implemented in phases until 2030
Most advanced Verbund site with smart manufacturing concepts
30 Sept. 2020 | BASF Capital Market Story
India is a fast growing economy with domestic undersupply of chemicals
Strong GDP growth | Growing Industrial base |
billion US$ | billion US$ |
(base year 2015) | (base year 2015) |
3,000 | ~6.6% | 800 | ~4.8% |
CAGR | 600 | CAGR | |
2,000 | |||
400 |
Strong demand for chemicals1 million US$
(base year 2015)
150 | ~7.3% |
CAGR | |
100 |
Market characteristics
| Population: >1.3 billion; |
5th largest economy | |
| Key customer industries: |
transportation, consumer goods, | |
home and personal care | |
Indian chemical industry will grow | |
much faster than the global |
2,772 | 704 | ||
1,000 | 200 | ||
0 | 0 | ||
50
0
126
chemical industry |
India will remain a net importer of |
chemicals for the mid to long term |
2019 | 2019 |
2019
31 | Sept. 2020 | BASF Capital Market Story 1 Real chemical production, excluding pharmaceuticals. Base year 2015, BASF estimates |
BASF's project scope - building the C3 industry value chain
Mundra Port, Gujarat - designated site for
CO2 the world's first green chemical complex
neutral
Polypropylene | Toluene | |||||||||||||||||
Polyols | Polyurethane | |||||||||||||||||
Propylene Oxide | Propylene Glycol | Polyester | ||||||||||||||||
Propane | ||||||||||||||||||
Dehydrogenation | Propylene | Cumene | Acetone | Solvents | ||||||||||||||
(PDH) | ||||||||||||||||||
Acrylonitrile | Phenol | Polycarbonate | ||||||||||||||||
Oxy-C4 Alcohols | ||||||||||||||||||
Project scope | Butyl Acrylate | |||||||||||||||||
Produced by third-parties | Acrylic Acid | |||||||||||||||||
- Envisaged as a partnership based investment by BASF, Adani, ADNOC1 and Borealis in chemical production complex
- PDH unit to be established as basis for acrylics value chain and polypropylene production
- Project is currently in the feasibility phase
- First CO2-neutral site worldwide to be 100% powered by renewable energy
32 | Sept. 2020 | BASF Capital Market Story 1 Abu Dhabi National Oil Company |
Agenda
1 | 2 | 3 | ||
At a glance | Strategy implementation | Unique position to capture | ||
in full swing | growth in Asia | |||
4 | 5 | 6 | ||
Battery materials driving | Pushing the transition to a | Reporting | ||
electromobility and future | sustainable economy | |||
growth | ||||
33 Sept. 2020 | BASF Capital Market Story
Rise of e-mobility is net positive for chemicals demand per car
Internal Combustion
Engine (ICE)
Emissions control and power generation
Catalysts
Engineering plastics
Coolants
Engine
Coatings
Higher demand:
Growth in battery materials more than compensates some catalyst replacement
Higher demand:
Growth drivers: Flame retardant plastics, battery housings and cable sheathing
Comparable demand:
Growth areas: E-coolants and specialty fluids for e-mobility and autonomous driving
Comparable demand:
Growth areas: coatings for battery housings and passive vehicle-temperature management
Battery Electric
Vehicle (BEV)
+
Cathode Active
Material (CAM)
+
=
Battery
=
34 Sept. 2020 | BASF Capital Market Story
BASF addresses the needs of the fast-growinge-mobility market
Heat management
Effective heat management can increase the range of electric cars, as it reduces the energy drawn from the battery to heat and cool the vehicle.
Charging infrastructure
Safe and easy-to-use charging devices are vital if electromobility is to become widespread.
Components | BASF materials | |
Chassis coatings | Chromacool® | |
Components
Charging stations
Charging cables
Charging plugs
Charging inlet
BASF materials
Ultramid®, Ultradur®
Elastollan®
Ultramid®
Ultramid®
Electric powertrain
The electric motor and power electronics are core components of an electric vehicle. BASF materials help customers to reduce weight, increase design flexibility and enable components and functions to be integrated safely.
Components | BASF materials | ||||
Electric motor | Cellasto® | ||||
Power electronics | Ultramid®, Ultradur® | ||||
35 Sept. 2020 | | BASF Capital Market Story 1 CAM = Cathode Active Materials |
Battery
The battery pack is the heart of an electric car. To support next-generation battery technology, BASF is continuously improving its portfolio with new solutions.
Components | BASF materials | |
Battery cells | CAM1 (HED™ product family), | |
N-methylpyrrolidone (NMP), Ethylene carbonate | ||
Battery housing | Oxsilan®, CathoGuard®, Ultramid® | |
Battery bearings | Cellasto® | |
Battery cooling | Glysantin®, Ultramid® | |
High-voltage plugs | Ultradur® HR, Ultramid® |
BEVs and hybrids create superior growth opportunities in battery materials
Global vehicle production by engine type
million units
120 | 20% | 2.0% | |
29% | CAGR | ||
100 | CAGR | ||
CAGR | |||
Market projections for 2030:
- ~25 million electric vehicles built per year
- 1,500-2,500kt of CAM in electromobility
- €45-60billion CAM market size
80 |
60 |
40 |
20 |
0 |
~25% p.a.
Electromobility drives battery materials growth
2020 | 2025 | 2030 | |||
BEV: Battery Electric Vehicles | Hybrids: ICE + Battery | ICE only | |||
2020 2030
36 Sept. 2020 | BASF Capital Market Story
BASF is well-positioned in the value chain with strategic partnerships to secure high-purity raw materials
Mining | Metal refinery | BASF Battery Materials | Systems and applications | |
Metal ore | Metal salt | Cells | ||
CAM and precursors | OEMs | |||
mining and upgrading | solution and cast | batteries | ||
Recycling
The chemistry of cathode active materials is key to addressing electromobility challenges.
37 Sept. 2020 | BASF Capital Market Story
BASF is a leading supplier for high energy density cathode active materials to the automotive industry
CAM drive battery performance
- HED™ Nickel Cobalt Manganese Oxide (NCM) & Nickel Cobalt Aluminum Oxide (NCA)
- Own precursor and cathode active materials manufacturing
- Global footprint, R&D, technology centers and production sites
- Comprehensive IP portfolio and close relationship with automotive industry
BASF's targets and approach
- Double the range of a midsize car to 600 km
- Double the battery lifetime
- Halve the size of the battery
- Reduce the charging time to 15 minutes
- Balance chemical composition
- Optimize production process
38 Sept. 2020 | BASF Capital Market Story
BASF combines battery-materials production and recycling with the goal of closing the loop in the circular economy
Battery materials circular economy
Metal mining | Cathode active | Battery | |
& refining | material | cell |
Metal | Lithium-ion |
extraction | battery |
Collection & dismantling | Electric |
end-of-life battery packs | car |
Key facts
- Regulation drives demand for recycling
- OEMs will need recycling partners to establish closed loop approaches
- Recycling provides sustainable and cost-efficient access to metals
- BASF has proprietary and differentiating technology along with expertise in recycling
39 Sept. 2020 | BASF Capital Market Story
BASF is a leading battery materials supplier with global production
2012
First CAM production facility in Elyria, Ohio
2018
Second CAM production facility in Battle Creek, Michigan; merged with Elyria, Ohio into BASF TODA America (BTA)
2022
CAM precursor
production planned
in Harjavalta,
Finland
Targeted
position In
China
2022
CAM production
planned in
Schwarzheide,
Germany
2015
Foundation of BASF
TODA Battery Materials
(BTBM), Japan
2017
Tripled capacity at
BTBM in Onoda,
Japan
- 40 Sept. 2020 | BASF Capital Market Story
BASF is active and investing in battery materials
October 2018 | February 2020 | March 2020 |
BASF and Nornickel join forces to supply the battery materials market
- BASF's announced precursor plant will be constructed in Harjavalta, Finland enabling secure supply of locally-sourced nickel and cobalt
- The new plant will utilize locally generated renewable energy sources, including hydro, wind and biomass
- Start-upplanned for 2022
BASF further invests in Europe to strengthen position in battery materials for electric vehicles
- Schwarzheide, Germany as location for CAM production in Europe enabling the supply of ~400,000 electric vehicles per year
- Production plant to use industry-leading energy mix lowering CO2 footprint
- Part of BASF's plans to establish a global presence with battery materials supply
- Start-upplanned for 2022
Fortum, BASF, and Nornickel sign cooperation agreement on battery recycling
- BASF intends to use recycled materials from processes developed by the cooperating companies in its planned Harjavalta, Finland facility
- The parties will foster production and use of responsibly produced recycled raw materials in the battery market
41 Sept. 2020 | BASF Capital Market Story
BASF Battery Materials in pole position
Broadest high energy density CAM portfolio
Tailored solutions to strong customer base
Established manufacturing know-how
Strong innovation and growth pipeline
Global presence and secure supply chain
Long-standing strategic partnerships
Leading raw material and sustainability position
42 Sept. 2020 | BASF Capital Market Story
Agenda
1 | 2 | 3 | ||
At a glance | Strategy implementation | Unique position to capture | ||
in full swing | growth in Asia | |||
4 | 5 | 6 | ||
Battery materials driving | Pushing the transition to a | Reporting | ||
electromobility and future | sustainable economy | |||
growth | ||||
43 Sept. 2020 | BASF Capital Market Story
Resource efficiency - BASF's Verbund is ideal for
CO2 emission reduction
- Combined heat and power plants and integrated energy Verbund prevented 6.4 million metric tons of CO2e emissions in 2019
- Synergies in logistics and infrastructure, minimization of waste
- BASF uses fossil raw materials responsibly: 75% of carbon converted to products, 25% consumed for process energy and converted to CO2 equivalents1
- European emissions trading benchmarks show that BASF's chemical plants operate at above-average energy efficiency
44 | Sept. 2020 | BASF Capital Market Story 1 BASF carbon mass balance calculation (2019, non-audited, without oil and gas business) |
BASF has a strong track record of CO2 emission reduction
- our goal: CO2-neutral growth until 2030
Absolute greenhouse gas (GHG) emissions
Indexed (1990 = 100) | |||||||||
160 | Paris climate agreement | ||||||||
140 | Global GHG emissions | ||||||||
120 | |||||||||
100 | BASF business | ||||||||
80 | |||||||||
growth | |||||||||
60 | BASF GHG emissions | ||||||||
40 | 2030 target | ||||||||
20 | No increase of | ||||||||
GHG emissions | |||||||||
0 | |||||||||
1990 | 1995 | 2000 | 2005 | 2010 | 2015 | 2020 | 2025 | 2030 |
- Since 1990, we have doubled our production volumes
and cut our GHG emissions in halves; the emission intensity thus decreased by 75%, from 2.2 tons of CO2e per ton of product to 0.6 tons of CO2e
- 20 million tons of CO2e emissions by BASF Group in 2019
- Low-hangingfruits have been harvested; fundamentally new technologies are needed to reduce emissions on a large scale
- We will grow our production volumes without adding further CO2e emissions1 until 2030 (intensity to be reduced by 30%)
- BASF is committed to the Paris agreement for climate protection
45 | 1 | BASF operations excluding the discontinued oil and gas business; includes other greenhouse gases according to |
Sept. 2020 | BASF Capital Market Story | the Greenhouse Gas Protocol, which are converted into CO2 equivalents |
BASF's Carbon Management - our focus to reduce emissions
Potential CO2 reduction
We have established a carbon management that involves
Develop breakthrough
technologies
Shift power supply
towards renewable energies
Further improve process and energy efficiency
Costs and risks
- a research program to develop CO2-reduced breakthrough technologies
- shifting our energy mix towards renewable energies
- continued operational excellence measures
- BASF co-founded the World Economic Forum's initiative on Collaborative Innovation for Low-Carbon Emitting Technologies in the Chemical Industry
- BASF further enhances transparency: We support the recommendations of the Task Force for Climate-related Financial Disclosure and participated in the "TCFD Preparer Forum for Chemicals" in 2019
46 Sept. 2020 | BASF Capital Market Story
BASF's CO2 reduction efforts are focused on main emitters
Example: Verbund site Ludwigshafen
Emissions 2019 in million tons CO2e
Upstream | 3.3 | Downstream |
Verbund | Verbund | |
steam cracker | ~190 plants |
ammonia | |
hydrogen | incineration, |
+14 other plants | |
sewage plant | |
0.3 Carbon management research program:
- breakthrough technologies for the most energy consuming basic chemicals (accounting for approximately 70% of the CO2 emissions of the chemical industry in Europe)
0.5 - electrification and fundamentally new synthesis pathways
- moving towards low-carbon chemical value
Power / Steam
3.9
chains
47 Sept. 2020 | BASF Capital Market Story
Hydrogen - a key element for CO2-free chemistry
Methods of H2 production: | ||||
efficiency | ||||
Methane | ||||
pyrolysis | ||||
GHG | (CO2-free, ~10 MWh) | |||
Steam | ||||
reforming | ||||
(10 metric tons CO2, | ||||
~6 MWh1) | ||||
1 for the chemical reaction | Energy efficiency |
- One key challenge in cutting major emission sources in the BASF production Verbund is access to low cost, energy-efficientCO2-free hydrogen.
- Steam reforming requires only ~6 MWh for the chemical reaction but emits approximately 10 metric tons of CO2 per metric ton of hydrogen.
- Water electrolysis is CO2-free but requires ~55 MWh of green electricity per ton of hydrogen produced for the entire process.
- Methane pyrolysis combines low emissions and low energy demand; it could yield CO2-free hydrogen while only consuming ~10 MWh of green electricity for the entire process.
48 Sept. 2020 | BASF Capital Market Story
Methane pyrolysis - producing CO2-free hydrogen with less electricity
- We are continuously optimizing processes, gradually replacing fossil fuels with renewable energy and developing new low-emission technologies to further reduce our overall CO2 footprint.
- Methane pyrolysis is a low-emission technology. Electricity is used to heat methane and split it into its components: hydrogen gas and solid carbon.
- Methane pyrolysis requires ~20% of the electricity needed for the very energy-intensive water electrolysis process.
- If renewable energy sources are used, the process yields hydrogen and very pure solid carbon without any CO2 emissions.
49 Sept. 2020 | BASF Capital Market Story
CO2-free hydrogen can reduce the overall Product Carbon Footprint of chemicals in different use cases
H2 | ||||
Energy carrier | Raw material | |||
"Hydrogen the energy vector" | "Hydrogen the chemical building block" | |||
Substitution of | Energy storage | Ammonia | Hydrogenated | |||
natural gas | products | |||||
50 Sept. 2020 | BASF Capital Market Story
Increasing importance of renewable energy
- In 2019, internally generated power in the BASF Group had a carbon footprint of around 0.26 tons of CO2 per MWh of electricity and was below the national grid factor at most BASF Group locations (purchased electricity: around 0.46 tons of CO2 per MWh)
- In 2019, 23 BASF sites were partially or fully powered by emission-free electricity
- Demand for electricity from renewable sources will increase sharply with new, low-carbonelectricity-based production processes
- At the Ludwigshafen site in Germany, we would need to roughly triple or quadruple our current electricity use (2019: 6.2 TWh) to fully implement the new production processes
- Availability and price of renewable power as critical success factors
- BASF is investigating different options for renewable power supply
51 Sept. 2020 | BASF Capital Market Story
Product Carbon Footprints create transparency for customers
- digital solution to calculate greenhouse gas emissions for all BASF products
Scope 3 | Scope 1 | ||
Extraction and raw materials | BASF | ||
Scope 2 Energy purchase
Cradle-to-gate
- Digital solution calculates cradle-to-gate Product Carbon Footprints
- Based on the total of direct process CO2 emissions, energy demand and scope 3 upstream CO2 emissions
- Carbon footprints for 45,000 BASF products in the global portfolio available in the course of 2021
52 Sept. 2020 | BASF Capital Market Story
From a linear to a more circular economy
- BASF contribution: ChemCyclingTM
Close the loop
ChemCyclingTM
- can handle mixed plastic waste
- produces virgin-like raw materials
- replaces virgin fossil resources
- In 2019, BASF invested €20 million in Quantafuel (pyrolysis of mixed plastic waste and purification of the resulting oil)
-
BASF providing technical support in the startup of Quantafuel's commercial plant in Skive, Denmark
Plastic waste is converted
into liquid feedstock and fed into BASF's value chains
Linear economy
Mechanical | Landfill Incineration Littering |
recycling |
53 Sept. 2020 | BASF Capital Market Story
Alliance to End Plastic Waste (AEPW)
- take action, develop solutions and catalyze investment
- Founded in 2019, BASF is a founding member of the AEPW
- 46 members from entire plastics value chain
- Commitment to spend US$1.5 billion over five years for infrastructure development, innovation, education, engagement and clean-up
- Example: collaboration with non-profit initiative RenewOceans in Varanasi, India (Ganges river)
- ReFence technology to collect plastic from waterways
- Waste management strategy for university campus
- Strategy for scaling and franchising of the existing model
54 Sept. 2020 | BASF Capital Market Story
Around 30% of BASF Group sales from sustainable solutions
- leveraging our innovation power
Percentage of sales 2019
Substantial sustainability | |
28.9% | contribution in the value chain |
Sustainable | Meets basic sustainability |
standards on the market |
Portfolio segmentation: >50,000 specific product |
applications analyzed by 2019 (€51.9 billion in sales, |
96.3% of relevant portfolio1) |
>12,000 Accelerators across all business segments |
Accelerator margins on average ~6 percentage |
points above the rest of assessed portfolio |
Solution
61.9% Steering
Specific sustainability issues, actively addressed
| Goal: €22 billion of sales with Accelerator products |
by 2025 (2019: €15.0 billion) | |
| Stronger integration in R&D pipeline, business |
strategies and M&A projects |
Significant sustainability concern identified and action plan developed
9.1% 0.1%
We will stop selling Challenged products within |
maximum five years after classification |
55 | Sept. 2020 | BASF Capital Market Story 1 The product portfolio acquired from Bayer has been partially assessed |
Accelerator examples
- innovations for a sustainable future
SLENTEX® - high-performance | Formic acid - ecoefficient runway |
flexible insulation material | and road deicing |
Acronal® MB - from biomass to dispersions
ecovio® - compostable cling film | Inscalis® - insecticide with | Synative® ES TMP - biodegradable |
for fresh-food packaging | unique mode of action | marine lubricants |
56 Sept. 2020 | BASF Capital Market Story
Value balancing alliance - consistent assessment in monetary terms of the impact of business activities on the well-being of people
Stakeholders Companies
Member companies
Policy advisors
Pro-bono consultants
Support from politics, financial markets, academia, business,
standard setters,… civil society
- Founded in June 2019, BASF is a founding member of the value balancing alliance
- From traditional reporting of input and output (e.g., raw materials, CO2 emissions) to impact valuation (e.g., climate change mitigation costs)
- Holistic view along the entire value chain
- Increase transparency by
- standardizing calculations for comparable results
- piloting in management accounting
- making outcomes publicly available
- Ambition: transform business from maximizing profits to optimizing value creation
57 Sept. 2020 | BASF Capital Market Story
BASF in sustainability ratings and rankings
CDP
In 2019, BASF achieved a score of A- in the climate category, thus attaining leadership status again; BASF was included in the "Water A list" of leading companies for sustainable water management
MSCI ESG Research
In 2020, BASF was again rated AA and ranks third in "Diversified Chemicals"
Sustainalytics
BASF is "Outperformer" in the overall ESG rating 2020 with strong ratings in social and governance categories
FTSE4Good Global Index
BASF was included again in the FTSE4Good Global Index 2020, with a rank in the top ten of the chemical industry
58 Sept. 2020 | BASF Capital Market Story
Agenda
1 | 2 | 3 | ||
At a glance | Strategy implementation | Unique position to capture | ||
in full swing | growth in Asia | |||
4 | 5 | 6 | ||
Battery materials driving | Pushing the transition to a | Reporting | ||
electromobility and future | sustainable economy | |||
growth | ||||
59 Sept. 2020 | BASF Capital Market Story
BASF Group Q2 2020: Sales volumes in Greater China significantly above prior-year months
Sales volumes development by region1
April/May/June 2020 vs. April/May/June 2019
%
BASF Group | Europe | North America | Greater China | ||||||||
13 | 28 | ||||||||||
1 | 2 | 9 | |||||||||
(7) | |||||||||||
(12) | (19) | (12) | |||||||||
(21) | |||||||||||
(27) | (27) | ||||||||||
April | May | June | April | May | June | April | May | June | April | May | June |
2020 |
60 Sept. 2020 | BASF Capital Market Story 1 Location of customer
BASF Group Q2 2020: COVID-19 leads to lower volumes, mainly due to lower demand from the automotive industry
Sales volumes development by segment
Q2 2020 vs. Q2 2019
absolute (million €) terms
Main customer industry: automotive | ||
Chemicals | Materials | |
155 | (680) | |
Industrial | Surface | |
Solutions | ||
(234) | Technologies | |
(804) |
Nutrition | Agricultural | Other |
& Care | Solutions | |
96 | 45 | (216) |
7% | (23%) | | (11%) | | (26%) | 7% | 2% | | (29%) | ||||||
relative (%) terms
Overall change (1,638)
| (11%) |
61 Sept. 2020 | BASF Capital Market Story
BASF Group Q2 2020: Sales and earnings decline on account of lower demand from key customer industries
Sales bridge Q2 2020 vs. Q2 2019
million €
20,000
14,478 (1,638)
(130) 114
10,000
0 | ||||||||
Q2 2019 | Volumes | Prices | Portfolio | |||||
Sales development | ||||||||
Q2 2020 vs. Q2 2019 | | (11%) | | (1%) | 1% | |||
- 12,680
Currencies Q2 2020
| (1%) |
EBIT before special items by segment Q2 2020 vs. Q2 2019
million €
1,200 995
800
226
400 | Agricultural Solutions (1) | | |||||||||||||||||
Nutrition & Care 36 | | ||||||||||||||||||
0 | Industrial Solutions (80) | | |||||||||||||||||
Surface Technologies (280) | | ||||||||||||||||||
Materials (414) | | ||||||||||||||||||
Chemicals (121) | | ||||||||||||||||||
(400) | Other 91 | | |||||||||||||||||
Q2 2020 | |||||||||||||||||||
Q2 2019 |
62 Sept. 2020 | BASF Capital Market Story
BASF Group Q2 2020: Key financial figures
Q2 2020 | Q2 2019 | |||
€ | € | |||
Sales | 12,680 million | 14,478 million | ||
EBITDA before special items | 1,229 million | 1,885 million | ||
EBITDA | 1,070 million | 1,546 million | ||
EBIT before special items | 226 million | 995 million | ||
EBIT | 59 million | 507 million | ||
Net income | (878) million | 5,954 million | ||
Reported EPS | (0.95) | 6.48 | ||
Adjusted EPS | 0.25 | 0.83 | ||
Cash flows from operating activities | 2,242 million | 1,946 million | ||
Sales development | Volumes | Prices | Portfolio | |||
Q2 2020 vs. Q2 2019 | (11%) | (1%) | 1% |
Change
%
(12)
(35)
(31)
(77)
(88)
.
.
(70)
15
Currencies
| (1%) |
63 Sept. 2020 | BASF Capital Market Story
Strong balance sheet
Balance sheet June 30, 2020 vs. December 31, 2019
billion €
90.4 | 90.4 |
87.0 | 87.0 |
38.4 | 42.4 | Equity | |||||||||||
Noncurrent | 55.2 | ||||||||||||
56.0 | |||||||||||||
assets | |||||||||||||
26.1 | Financial | ||||||||||||
18.4 | debt | ||||||||||||
Inventories | 10.8 | ||||||||||||
11.2 | 1.2 | 1.0 | Liabilities of | ||||||||||
Accounts | 9.4 | disposal groups1 | |||||||||||
receivable | 9.1 | ||||||||||||
Other assets | 4.7 | 24.7 | 25.2 | Other | |||||||||
3.8 | |||||||||||||
Disposal groups1 | 4.7 | liabilities | |||||||||||
Liquid funds | 5.6 | 4.0 | |||||||||||
2.9 | |||||||||||||
June 30, 2020 | Dec. 31, 2019 | June 30, 2020 | Dec. 31, 2019 |
- Total assets increased by €3.4 billion to €90.4 billion
- Current assets up by €4.2 billion, mainly due to higher cash and cash equivalents and other receivables
- Net debt increased by €5.0 billion to €20.5 billion, mainly due to the dividend payment in Q2 2020 and the acquisition of Solvay's polyamide business in Q1 2020
- Equity ratio on June 30, 2020: 42.5%
64 | Sept. 2020 | BASF Capital Market Story 1 BASF's pigments business and construction chemicals business |
Qualitative statements on further business development in 2020 provided in the Half-Year Financial Report 2020
- Given the continued high level of uncertainty surrounding economic developments due to the effects of the pandemic and the low visibility, it is still not possible to make any concrete statements on the development of sales and earnings for the full-year 2020.
- For the second half of 2020, we anticipate a high level of uncertainty due to the ongoing corona pandemic.
- For the third quarter of 2020, we currently do not expect EBIT before special items to improve significantly compared with the second quarter of 2020, in part due to the generally lower demand in August and the seasonality of the Agricultural Solutions business.
65 Sept. 2020 | BASF Capital Market Story
Chemicals
Sales Q2 2020 vs. Q2 2019
EBIT before special items
million €
Intermediates
Petrochemicals 1,173 (20%)
million €
251 |
250 |
174 |
618€1,791
150 | 119 | |
115 |
(14%)
(18%)
50 |
Sales development | Volumes | |
Q2 2020 vs. Q2 2019 | 7% | |
(50) | (2) | |||||||||||||
Q2 | Q3 | Q4 | ||||||||||||
Q1 | Q2 | |||||||||||||
2019 | 2020 | |||||||||||||
Prices | Portfolio | Currencies | ||||||||||||
| (25%) | 0% | 0% |
66 Sept. 2020 | BASF Capital Market Story
Materials
Sales Q2 2020 vs. Q2 2019
million €
Monomers 1,072
(23%)€2,143
(28%)
Sales development
Q2 2020 vs. Q2 2019
Performance
Materials
1,071
(31%)
Volumes
(23%)
EBIT before special items
million €
500
334
300 | 266 | |||||||||||||||||||||||||||
209 | ||||||||||||||||||||||||||||
100 | 80 | |||||||||||||||||||||||||||
(100) | ||||||||||||||||||||||||||||
(80) | ||||||||||||||||||||||||||||
Q2 | Q3 | Q4 | Q1 | Q2 | ||||||||||||||||||||||||
2019 | 2020 | |||||||||||||||||||||||||||
Prices | ||||||||||||||||||||||||||||
Portfolio | Currencies | |||||||||||||||||||||||||||
| (8%) | 4% | | (1%) | ||||||||||||||||||||||||
67 Sept. 2020 | BASF Capital Market Story
Industrial Solutions
Sales Q2 2020 vs. Q2 2019 million €
Dispersions & Pigments | |
Performance | 1,173 |
(12%) |
Chemicals | €1,819 |
646 | |
(20%) | (15%) |
Sales development | Volumes | |
Q2 2020 vs. Q2 2019 | (11%) |
EBIT before special items million €
300 | ||||||||||||||||||||||
273 | ||||||||||||||||||||||
243 | ||||||||||||||||||||||
200 | 205 | |||||||||||||||||||||
163 | ||||||||||||||||||||||
100 | 108 | |||||||||||||||||||||
0 | ||||||||||||||||||||||
Q2 | Q3 | Q4 | Q1 | Q2 | ||||||||||||||||||
2019 | 2020 | |||||||||||||||||||||
Prices | ||||||||||||||||||||||
Portfolio | Currencies | |||||||||||||||||||||
| (4%) | 0% | 0% |
68 Sept. 2020 | BASF Capital Market Story
Surface Technologies
Sales Q2 2020 vs. Q2 2019
million €
Catalysts 2,549 +15%
Coatings | €3,099 |
550 | (2%) |
(41%) |
Sales development | Volumes | |
Q2 2020 vs. Q2 2019 | (26%) |
EBIT before special items
million €
300 | ||||||||||||||||||||
236 | ||||||||||||||||||||
220 | ||||||||||||||||||||
200 | 206 | |||||||||||||||||||
129 | ||||||||||||||||||||
100 | ||||||||||||||||||||
0 | ||||||||||||||||||||
(100) | |||||||||||||
(200) | (151) | ||||||||||||
Q2 | Q3 | Q4 | |||||||||||
Q1 | Q2 | ||||||||||||
2019 | 2020 | ||||||||||||
Prices | |||||||||||||
Portfolio | Currencies | ||||||||||||
24% | 0% | 0% | |||||||||||
69 Sept. 2020 | BASF Capital Market Story
Nutrition & Care
Sales Q2 2020 vs. Q2 2019 | EBIT before special items |
million € | million € |
Nutrition & Health | Care Chemicals |
548 | 1,007 |
+12% | 0% |
€1,555
+4%
300
254 256
220 225
200
126
100
0
Q2 | Q3 | Q4 | Q1 | Q2 | |
2019 | 2020 |
Sales development
Q2 2020 vs. Q2 2019
Volumes
- 7%
Prices
(1%)
Portfolio
0%
Currencies
| (2%) |
70 Sept. 2020 | BASF Capital Market Story
Agricultural Solutions
Sales H1 2020 vs. H1 2019
million €
Seeds & Traits 1,017 (2%)
€4,585
Herbicides+3% 1,636 +7%
Fungicides 1,274 +3%
Seed Treatment 249 (3%)
Insecticides 409 +7%
EBIT before special items Q2 2020 vs. Q2 2019 and H1 2020 vs. H1 2019
million €
1,000 | 929 | ||||
861 | |||||
800 | |||||
600
400
200 | ||||||||||||||
120 | 121 | |||||||||||||
0 | ||||||||||||||
Q2 2020 | Q2 2019 | H1 2020 | H1 2019 | |||||||||||
Sales development | Volumes | Prices | Portfolio | ||||
Q2 2020 vs. Q2 2019 | | 2% | 1% | 0% | |||
H1 2020 vs. H1 2019 | | 5% | 0% | 0% | |||
Currencies
| (5%) |
| (2%) |
71 Sept. 2020 | BASF Capital Market Story
Review of "Other"
Financial figures | Q2 2020 | Q2 2019 | ||
million € | million € | |||
Sales | 507 | 744 | ||
EBIT before special items | (80) | (171) |
Thereof | Costs of corporate research |
Costs of corporate headquarters | |
Foreign currency results, hedging and other | |
measurement effects | |
Other businesses |
Special items
(81) | (99) | |
(57) | (66) | |
(49) | (12) | |
24 | 48 | |
(48) | (193) |
EBIT | (128) | (364) | ||
72 Sept. 2020 | BASF Capital Market Story
Attachments
- Original document
- Permalink
Disclaimer
BASF SE published this content on 24 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 September 2020 12:14:00 UTC