Investors
Segment Data and Regional Results
The audited BASF Report 2024 will be published on March 21, 2025. The key financial figures published on February 28, 2025, are therefore to be regarded as preliminary. From today’s perspective, no adjustments are expected.
Half-Year Financial Report 2025
Segment Data
Segment data — Chemicals
| Q2 | H1 | |||||
| Million € | 2025 | 2024 | +/- | 2025 | 2024 | +/- |
| Sales to third parties | 2,502 | 2,838 | -11.9% | 5,279 | 5,603 | -5.8% |
|
of which Petrochemicals |
1,857 | 2,144 | -13.4% | 3,941 | 4,150 | -5.0% |
|
Intermediates |
645 | 695 | -7.1% | 1,337 | 1,453 | -8.0% |
| EBITDA before special items | 209 | 444 | -52.9% | 545 | 896 | -39.2% |
| Special items in EBITDA | -37 | 0 | . | -39 | 0 | . |
| EBITDA | 172 | 443 | -61.2% | 506 | 896 | -43.5% |
| EBITDA margin before special items (%) | 8.4 | 15.6 | . | 10.3 | 16.0 | . |
|
Depreciation and amortizationa |
220 | 213 | 3.2% | 438 | 413 | 5.9% |
| EBIT before special items | -4 | 230 | . | 115 | 483 | -76.1% |
| Special items in EBIT | -44 | 0 | . | -47 | 0 | . |
| Income from operations (EBIT) | -48 | 230 | . | 68 | 483 | -85.9% |
| Investments including acquisitionsb | 519 | 908 | -42.9% | 972 | 1,468 | -33.8% |
| Segment cash flow | -176 | -406 | 56.6% | -567 | -962 | 41.1% |
| Assets (June 30) | 13,890 | 13,034 | 6.6% | 13,890 | 13,034 | 6.6% |
| Research and development expenses | 21 | 20 | 5.0% | 41 | 42 | -1.6% |
a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)
b Additions to property, plant and equipment and intangible assets
Segment data — Materials
| Q1 | H1 | |||||
| Million € | 2025 | 2024 | +/- | 2025 | 2024 | +/- |
| Sales to third parties | 3,240 | 3,416 | -5.1% | 6,690 | 6,857 | -2.4% |
|
of which Performance Materials |
1,675 | 1,740 | -3.8% | 3,413 | 3,499 | -2.5% |
|
Monomers |
1,566 | 1,675 | -6.6% | 3,277 | 3,358 | -2.4% |
| EBITDA before special items | 408 | 448 | -8.8% | 877 | 956 | -8.2% |
| Special items in EBITDA | -22 | -19 | -18.3% | -32 | 22 | . |
| EBITDA | 386 | 429 | -10.0% | 845 | 978 | -13.6% |
| EBITDA margin before special items (%) | 12.6 | 13.1 | . | 13.1 | 13.9 | . |
|
Depreciation and amortizationa |
225 | 208 | 8.1% | 435 | 412 | 5.7% |
| EBIT before special items | 184 | 240 | -23.4% | 444 | 551 | -19.4% |
| Special items in EBIT | -22 | -19 | -18.4% | -35 | 15 | . |
| Income from operations (EBIT) | 161 | 221 | -27.0% | 410 | 567 | -27.7% |
| Investments including acquisitionsb | 200 | 220 | -8.9% | 335 | 512 | -34.5% |
| Segment cash flow | 256 | 137 | 87.5% | 300 | 222 | 35.2% |
| Assets (June 30) | 9,770 | 10,386 | -5.9% | 9,770 | 10,386 | -5.9% |
| Research and development expenses | 47 | 45 | 4.6% | 91 | 91 | 0.5% |
a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)
b Additions to property, plant and equipment and intangible assets
Segment data — Industrial Solutionsa
| Q2 | H1 | |||||
| Million € | 2025 | 2024 | +/- | 2025 | 2024 | +/- |
| Sales to third parties |
2,160 |
2,377 |
-9.1% |
4,428 |
4,662 |
-5.0% |
|
of which Dispersions & Resins |
1,240 |
1,354 |
-8.4% |
2,549 |
2,629 |
-3.0% |
|
Performance Chemicals |
920 |
1,023 |
-10.1% |
1,880 |
2,033 |
-7.5% |
| EBITDA before special items |
307 |
367 |
-16.5% |
668 |
750 |
-11.0% |
| Special items in EBITDA |
-8 |
-0 |
. |
-14 |
-5 |
-214.5% |
| EBITDA |
298 |
367 |
-18.7% |
653 |
746 |
-12.4% |
| EBITDA margin before special items (%) |
14.2 |
15.4 |
. |
15.1 |
16.1 |
. |
|
Depreciation and amortizationb |
108 |
109 |
-0.7% |
213 |
215 |
-1.1% |
| EBIT before special items |
198 |
258 |
-23.1% |
455 |
535 |
-15.0% |
| Special items in EBIT |
-9 |
-0 |
. |
-15 |
-5 |
-216.2% |
| Income from operations (EBIT) |
190 |
258 |
-26.4% |
440 |
530 |
-17.0% |
| Investments including acquisitionsc |
77 |
67 |
14.6% |
145 |
122 |
19.1% |
| Segment cash flow |
224 |
167 |
33.7% |
366 |
284 |
28.9% |
| Assets (June 30) |
6,952 |
7,794 |
-10.8% |
6,952 |
7,794 |
-10.8% |
| Research and development expenses |
48 |
47 |
2.3% |
94 |
94 |
0.1% |
a Since January 1, 2025, the chemical and refining catalysts business has been reported as part of the Performance Chemicals division in the Industrial Solutions segment. It was previously part of the Catalysts division in the Surface Technologies segment. The prior-year figures have been adjusted accordingly.
b Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)
c Additions to property, plant and equipment and intangible assets
Segment data — Nutrition & Care
| Q2 | H1 | |||||
| Million € | 2025 | 2024 | +/- | 2025 | 2024 | +/- |
| Sales to third parties |
1,618 |
1,667 |
-2.9% |
3,337 |
3,396 |
-1.7% |
|
of which Care Chemicals |
1,190 |
1,164 |
2.2% |
2,468 |
2,381 |
3.6% |
|
Nutrition & Health |
428 |
503 |
-14.9% |
869 |
1,015 |
-14.3% |
| EBITDA before special items |
196 |
183 |
6.9% |
425 |
445 |
-4.5% |
| Special items in EBITDA |
-7 |
12 |
. |
-11 |
10 |
. |
| EBITDA |
188 |
195 |
-3.5% |
415 |
456 |
-9.0% |
| EBITDA margin before special items (%) |
12.1 |
11.0 |
. |
12.7 |
13.1 |
. |
|
Depreciation and amortizationa |
137 |
175 |
-21.5% |
262 |
306 |
-14.4% |
| EBIT before special items |
66 |
54 |
20.6% |
172 |
186 |
-7.4% |
| Special items in EBIT |
-15 |
-35 |
57.2% |
-19 |
-36 |
46.5% |
| Income from operations (EBIT) |
51 |
20 |
155.0% |
153 |
150 |
2.0% |
| Investments including acquisitionsb |
157 |
189 |
-17.1% |
308 |
327 |
-5.9% |
| Segment cash flow |
-27 |
19 |
. |
-130 |
-45 |
-188.6% |
| Assets (June 30) |
7,875 |
7,775 |
1.3% |
7,875 |
7,775 |
1.3% |
| Research and development expenses |
35 |
35 |
0.0% |
69 |
74 |
-6.9% |
a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)
b Additions to property, plant and equipment and intangible assets
Segment data — Surface Technologiesa
| Q2 | H1 | |||||
| Million € | 2025 | 2024 | +/- | 2025 | 2024 | +/- |
| Sales to third parties |
3,336 |
3,006 |
11.0% |
6,418 |
6,125 |
4.8% |
|
of which Coatings |
1,100 |
1,072 |
2.6% |
2,101 |
2,105 |
-0.2% |
|
Battery Materials |
169 |
157 |
7.4% |
290 |
298 |
-2.4% |
|
ECMS |
2,068 |
1,777 |
16.4% |
4,026 |
3,723 |
8.2% |
| EBITDA before special items |
350 |
319 |
9.7% |
657 |
623 |
5.4% |
| Special items in EBITDA |
-56 |
-46 |
-21.0% |
-87 |
-72 |
-20.8% |
| EBITDA |
294 |
273 |
7.7% |
569 |
551 |
3.4% |
| EBITDA margin before special items (%) |
10.5 |
10.6 |
. |
10.2 |
10.2 |
. |
|
Depreciation and amortizationb |
110 |
125 |
-11.6% |
238 |
248 |
-4.0% |
| EBIT before special items |
243 |
194 |
25.4% |
437 |
375 |
16.4% |
| Special items in EBIT |
-60 |
-46 |
-29.5% |
-105 |
-72 |
-45.9% |
| Income from operations (EBIT) |
183 |
148 |
24.1% |
331 |
303 |
9.4% |
| Investments including acquisitionsc |
63 |
98 |
-36.1% |
103 |
185 |
-44.3% |
| Segment cash flow |
46 |
173 |
-73.3% |
79 |
407 |
-80.6% |
| Assets (June 30) |
9,669 |
10,744 |
-10.0% |
9,669 |
10,744 |
-10.0% |
| Research and development expenses |
61 |
70 |
-12.0% |
123 |
142 |
-13.0% |
a Since January 1, 2025, the chemical and refining catalysts business has been reported as part of the Performance Chemicals division in the Industrial Solutions segment. It was previously part of the Catalysts division in the Surface Technologies segment. The prior-year figures have been adjusted accordingly. In addition, the two business units, Battery Materials and Environmental Catalyst and Metal Solutions, were established as new divisions within the segment, effective January 1, 2025. They were previously in the Catalysts division.
b Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)
c Additions to property, plant and equipment and intangible assets
Segment data — Agricultural Solutions
| Q2 | H1 | |||||
| Million € | 2025 | 2024 | +/- | 2025 | 2024 | +/- |
| Sales to third parties |
2,198 |
1,937 |
13.5% |
5,401 |
5,415 |
-0.3% |
|
of which Fungicides |
643 | 594 | 8.2% | 1,520 | 1,655 | -8.2% |
|
Herbicides |
866 | 720 | 20.4% | 1,769 | 1,640 | 7.9% |
|
Insecticides |
259 | 243 | 6.7% | 543 | 520 | 4.5% |
|
Seed Treatment |
111 | 119 | -6.8% | 257 | 258 | -0.3% |
|
Seeds & Traits |
319 | 261 | 22.3% | 1,312 | 1,342 | -2.2% |
| EBITDA before special items |
417 |
135 |
209.8% |
1,621 |
1,496 |
8.4% |
| Special items in EBITDA |
-64 |
-12 |
-429.3% |
-79 |
-14 |
-444.7% |
| EBITDA |
353 |
123 |
188.2% |
1,542 |
1,481 |
4.1% |
| EBITDA margin before special items (%) |
19.0 |
6.9 |
. |
30.0 |
27.6 |
. |
|
Depreciation and amortizationa |
144 |
168 |
-14.0% |
303 |
333 |
-9.2% |
| EBIT before special items |
272 |
-31 |
. |
1,320 |
1,165 |
13.3% |
| Special items in EBIT |
-64 |
-14 |
-350.1% |
-80 |
-17 |
-373.7% |
| Income from operations (EBIT) |
209 |
-45 |
. |
1,240 |
1,148 |
8.0% |
| Investments including acquisitionsb |
70 |
72 |
-3.7% |
141 |
119 |
19.0% |
| Segment cash flow |
811 |
1,005 |
-19.3% |
-166 |
291 |
. |
| Assets (June 30) |
15,834 |
17,116 |
-7.5% |
15,834 |
17,116 |
-7.5% |
| Research and development expenses |
232 |
249 |
-6.8% |
452 |
451 |
0.3% |
a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)
b Additions to property, plant and equipment and intangible assets
Financial data — Other
| Q2 | H1 | |||||
| Million € | 2025 | 2024 | +/- | 2025 | 2024 | +/- |
| Sales to third parties |
715 |
870 |
-17.9% |
1,618 |
1,607 |
0.7% |
| EBITDA before special items |
-114 |
62 |
. |
-396 |
-498 |
20.6% |
|
of which costs for cross-divisional corporate research |
-37 |
-41 |
10.6% |
-74 |
-83 |
11.4% |
|
costs of corporate headquarters |
-60 |
-58 |
-3.8% |
-119 |
-118 |
-0.8% |
|
other businesses |
64 |
68 |
-5.7% |
82 |
88 |
-6.3% |
|
miscellaneous income and expenses |
-81 |
93 |
. |
-285 |
-384 |
25.9% |
| Special items in EBITDA |
-102 |
-328 |
68.9% |
-482 |
-392 |
-22.9% |
| EBITDA |
-216 |
-266 |
18.8% |
-877 |
-890 |
1.4% |
| Depreciation and amortizationa |
36 |
49 |
-25.8% |
74 |
85 |
-12.9% |
| EBIT before special items |
-150 |
24 |
. |
-469 |
-572 |
18.0% |
| Special items in EBIT |
-102 |
-339 |
69.8% |
-482 |
-403 |
-19.7% |
| Income from operations (EBIT) |
-252 |
-315 |
19.9% |
-951 |
-975 |
2.4% |
| Investments including acquisitionsb |
30 |
82 |
-62.8% |
64 |
110 |
-41.6% |
| Assets (June 30)c |
13,678 |
15,598 |
-12.3% |
13,678 |
15,598 |
-12.3% |
| Research and development expenses |
57 |
59 |
-3.0% |
129 |
121 |
6.7% |
a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)
b Additions to property, plant and equipment and intangible assets
c Includes assets of businesses recognized under Other and reconciliation to assets of the BASF Group
Regions
| Million € | Sales by location of company |
Sales by location of customer |
||||
| Q2 | 2025 | 2024 | +/- | 2025 | 2024 | +/- |
| Europe | 6,507 | 6,697 | -2.8% | 6,162 | 6,335 | -2.7% |
|
of which Germany |
2,701 | 2,838 | -4.8% | 1,592 | 1,554 | 2.4% |
| North America | 4,273 | 4,365 | -2.1% | 4,175 | 4,291 | -2.7% |
| Asia Pacific | 4,081 | 4,065 | 0.4% | 4,142 | 4,182 | -0.9% |
|
of which Greater China |
2,301 | 2,276 | 1.1% | 2,311 | 2,267 | 1.9% |
| South America, Africa, Middle East | 908 | 984 | -7.7% | 1,289 | 1,303 | -1.1% |
| BASF Group | 15,769 | 16,111 | -2.1% | 15,769 | 16,111 | -2.1% |
| H1 | ||||||
| Europe | 13,965 | 14,107 | -1.0% | 13,307 | 13,461 | -1.1% |
|
of which Germany |
5,664 | 5,778 | -2.0% | 3,378 | 3,236 | 4.4% |
| North America | 9,381 | 9,740 | -3.7% | 9,122 | 9,523 | -4.2% |
| Asia Pacific | 8,016 | 7,895 | 1.5% | 8,143 | 8,106 | 0.5% |
|
of which Greater China |
4,573 | 4,378 | 4.5% | 4,539 | 4,338 | 4.6% |
| South America, Africa, Middle East | 1,808 | 1,922 | -5.9% | 2,599 | 2,574 | 1.0% |
| BASF Group | 33,171 | 33,664 | -1.5% | 33,171 | 33,664 | -1.5% |