Global
Investors

Segment Data and Regional Results

Quarterly Statement Q1 2022

Chemicals

  1st Quarter  

Million €

2022 2021 +/-
Sales to third parties

4,004

2,736

46.3%

of which Petrochemicals

2,763

1,937

42.6%

      Intermediates

1,241

799

55.3%

Income from operations before depreciation, amortization and special itemsa

1,048

766

36.8%

Income from operations before depreciation and amortization (EBITDA)a

1,046

813

28.7%

Depreciation and amortizationb

189

179

5.7%

Income from operations (EBIT)a

857

633

35.4%

Special items

–1

47

.

EBIT before special itemsa

858

586

46.5%

Assets (March 31)a

11,367

8,476

34.1%

Investments including acquisitionsc

228

128

78.2%

Research and development expenses

25

26

–3.5%

a BASF’s ethylene value chain was reorganized as of January 1, 2022. In this connection, the polyolefins and styrenics businesses of the joint venture BASF-YPC Company Ltd., Nanjing, China, which were previously reported under Other, were allocated to the Petrochemicals division. The prior-year figures have been adjusted. This reduced income from integral companies accounted for using the equity method, EBITDA before special items, EBITDA, EBIT and EBIT before special items in Other by €28 million in the first quarter of 2021 and increased these indicators in the Petrochemicals division accordingly (rounding differences are possible). The effect was € 28 million in both the second and third quarters of 2021 and €34 million in the fourth quarter of 2021. The effect in full-year 2021 was €118 million. The operating assets were also reallocated as part of the reorganization and increased the Chemicals segment’s assets by €114 million as of December 31, 2021. For more information, see basf.com/publications

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

Materials

  1st Quarter

Million €

2022 2021 +/-
Sales to third parties

4,821

3,447

39.9%

of which Performance Materials

2,164

1,732

24.9%

      Monomers

2,657

1,715

54.9%

Income from operations before depreciation, amortization and special items

954

863

10.6%

Income from operations before depreciation and amortization (EBITDA)

952

843

12.9%

Depreciation and amortizationa

203

195

4.0%

Income from operations (EBIT)

749

648

15.6%

Special items

–2

–24

91.0%

EBIT before special items

751

672

11.8%

Assets (March 31)

11,921

9,696

23.0%

Investments including acquisitionsb

142

105

35.3%

Research and development expenses

47

42

12.5%

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

Industrial Solutions

  1st Quarter

Million €

2022 2021 +/-
Sales to third parties

2,493

2,108

18.3%

of which Dispersions & Resins

1,516

1,349

12.4%

      Performance Chemicals

977

759

28.7%

Income from operations before depreciation, amortization and special items

431

350

23.2%

Income from operations before depreciation and amortization (EBITDA)

426

343

24.1%

Depreciation and amortizationa

83

84

–1.5%

Income from operations (EBIT)

343

259

32.4%

Special items

–5

–7

23.0%

EBIT before special items

348

266

30.9%

Assets (March 31)

6,714

6,855

–2.1%

Investments including acquisitionsb

53

62

–14.9%

Research and development expenses

43

44

–2.1%

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

Surface Technologies

  1st Quarter

Million €

2022 2021 +/-
Sales to third parties

5,457

5,947

–8.2%

of which Catalysts

4,514

5,110

–11.7%

      Coatings

943

837

12.7%

Income from operations before depreciation, amortization and special items

401

470

–14.6%

Income from operations before depreciation and amortization (EBITDA)

395

466

–15.3%

Depreciation and amortizationa

135

110

22.4%

Income from operations (EBIT)

260

356

–27.0%

Special items

–7

–4

–67.7%

EBIT before special items

267

360

–26.0%

Assets (March 31)

15,528

13,349

16.3%

Investments including acquisitionsb

109

73

49.8%

Research and development expenses

95

67

41.3%

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

Nutrition & Care

  1st Quarter

Million €

2022 2021 +/-
Sales to third parties

1,971

1,533

28.6%

of which Care Chemicals

1,363

1,059

28.7%

      Nutrition & Health

608

474

28.3%

Income from operations before depreciation, amortization and special items

351

316

11.0%

Income from operations before depreciation and amortization (EBITDA)

354

313

13.0%

Depreciation and amortizationa

107

98

9.4%

Income from operations (EBIT)

246

215

14.6%

Special items

3

–3

.

EBIT before special items

244

218

11.8%

Assets (March 31)

7,738

6,579

17.6%

Investments including acquisitionsb

107

100

6.8%

Research and development expenses

40

40

0.4%

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

Agricultural Solutions

  1st Quarter

Million €

2022 2021 +/-
Sales to third parties

3,397

2,846

19.4%

Income from operations before depreciation, amortization and special items

1,036

971

6.7%

Income from operations before depreciation and amortization (EBITDA)

1,031

968

6.5%

Depreciation and amortizationa

168

164

2.2%

Income from operations (EBIT)

863

804

7.4%

Special items

–5

–3

–65.7%

EBIT before special items

868

807

7.6%

Assets (March 31)

17,238

16,546

4.2%

Investments including acquisitionsb

61

48

26.7%

Research and development expenses

237

216

9.9%

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

Other

  1st Quarter
Million €  2022 2021 +/-

Sales to third parties

940

783

20.0%

Income from operations before depreciation, amortization and special itemsa

–478

–556

14.0%

Income from operations before depreciation and amortization (EBITDA)a

–494

–570

13.3%

Depreciation and amortizationb

40

35

13.6%

Income from operations (EBIT)a

–534

–604

11.5%

Special items

–16

–16

–1.4%

EBIT before special itemsa

–518

–589

12.1%

of which costs for cross-divisional corporate research

–73

–69

–5.8%

      costs of corporate headquarters

–64

–58

–10.3%

      other businesses

3

1

200.0%

      foreign currency results, hedging and other measurement effects

32

–53

.

      miscellaneous income and expenses

–416

–410

–1.4%

Assets (March 31)a, c

23,476

23,333

0.6%

Investments including acquisitionsd

41

29

42.7%

Research and development expenses

82

76

7.5%

a BASF’s ethylene value chain was reorganized as of January 1, 2022. In this connection, the polyolefins and styrenics businesses of the joint venture BASF-YPC Company Ltd., Nanjing, China, which were previously reported under Other, were allocated to the Petrochemicals division. The prior-year figures have been adjusted. This reduced income from integral companies accounted for using the equity method, EBITDA before special items, EBITDA, EBIT and EBIT before special items in Other by €28 million in the first quarter of 2021 and increased these indicators in the Petrochemicals division accordingly (rounding differences are possible). The effect was € 28 million in both the second and third quarters of 2021 and €34 million in the fourth quarter of 2021. The effect in full-year 2021 was €118 million. The operating assets were also reallocated as part of the reorganization and increased the Chemicals segment’s assets by €114 million as of December 31, 2021. For more information, see basf.com/publications

b Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)

c Contains assets of businesses recognized under Other as well as reconciliation to assets of the BASF Group

c Additions to property, plant and equipment and intangible assets

Million € Sales
by location of company
Sales
by location of customer

1st Quarter

2022

2021

+/–

2022

2021

+/–

Europe

9,979

8,129

22.8%

9,581

7,831

22.3%

North America

6,534

5,790

12.9%

6,400

5,558

15.1%

Asia Pacific

5,562

4,722

17.8%

5,675

4,857

16.8%

of which Greater China

3,231

2,649

22.0%

3,174

2,695

17.8%

South America, Africa, Middle East

1,008

759

32.8%

1,427

1,154

23.7%

BASF Group

23,083

19,400

19.0%

23,083

19,400

19.0%

Last Update April 29, 2022