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Business & Financial News | February 23, 2024
BASF Group: Reporting on the 2023 business year
BASF’s financial strength supports proposed stable dividend of €3.40 per share for the 2023 business year
In a market environment shaped by economic uncertainty, BASF Group reported sales of €68.9 billion in the 2023 business year, compared with €87.3 billion in the previous year. This sales development was mainly driven by considerably lower prices and volumes. Lower raw materials prices in particular led to lower prices in almost all segments. Sales volumes fell in all segments as a result of weak demand from many customer industries. Nevertheless, BASF demonstrated economic strength with cash flows from operating activities rising 5.2 percent year on year to reach €8.1 billion. The company had already released preliminary figures for the full year 2023 on January 19, 2024. Today, Dr. Martin Brudermüller, Chairman of the Board of Executive Directors of BASF, and Dr. Dirk Elvermann, Chief Financial Officer, presented the 2023 business development in detail and announced a further program for the Ludwigshafen site with additional annual cost savings of €1 billion by the end of 2026. This is in addition to the existing cost savings program in non-production units with a focus on Europe and the adaptation of production structures in Ludwigshafen.
Business & Financial News | February 15, 2024
Advance Notice: Annual Press Conference
on February 23, 2024, at 12.00 p.m. (CET)
On Friday, February 23, 2024, the Annual Press Conference of BASF SE will be held in Ludwigshafen, Germany. At 12.00 p.m. (CET) BASF’s Chairman of the Board of Executive Directors Dr. Martin Brudermüller and CFO Dr. Dirk Elvermann will present the 2023 financial results. The conference will be transmitted via the internet.