Investors

Our Targets and Target Achievement 20251

For us, long-term business success means creating economic, ecological and social value, which is why we pursue measurable targets along the entire value chain. We report transparently on our progress in achieving these targets so that stakeholders can understand and evaluate our development.

Our objective is profitable growth – we have set ambitious targets for our EBITDA before special items, our cumulative free cash flow and our targeted return on capital employed (ROCE) by 2028. We continue to adhere to our shareholder distribution policy: We aim to keep the overall distribution to shareholders at least at prior-year levels through a combination of dividends and share buybacks.

We have also set ourselves comprehensive targets in the area of sustainability. For instance, regarding climate protection: We want to significantly reduce greenhouse gas emissions from our production processes (Scope 1)2 and our energy purchases (Scope 2)2 by 2030. At the same time, we are pursuing an ambitious target to reduce our specific raw materials-related emissions (Scope 3.1)3. Our long-term target is to achieve net zero for our Scope 1, Scope 2 and Scope 3.1 emissions by 2050. In addition, we want to advance sustainability in the supply chain in a targeted manner and are therefore focusing on improving the sustainability performance of suppliers with an increased risk.

With our “Winning Ways” strategy, we are continuing our efforts to steer our product portfolio even more toward sustainability. For this reason, we aim to further increase our sales of Sustainable-Future Solutions, defined as products that make a positive contribution to sustainability, by 2030. We are also aiming to increase sales of Loop Solutions – products that close or extend loops and thus support the transition to a more circular economy.

The health and safety of our employees and the protection of the environment are our highest priority. In the area of occupational and process safety, we focus on high severity injuries and incidents. We also advocate for the protection of water as a resource, the continuous improvement of water use efficiency and the reduction of emissions. We focus on our Verbund sites as well as on production sites in water stress areas.4

Furthermore, we strive to increase the number of women in leadership positions worldwide5 and to create a working environment in which our employees can thrive and perform at their best.

To underscore the importance of our targets, both the long-term and short-term variable compensation of the Board of Executive Directors and senior executives is linked to the achievement of selected financial and sustainability-related targets.

1 With the exception of the financial targets and indicators specified as well as the Scope 1 and Scope 2 emissions, the contents of this chapter are not part of the statutory audit but are part of a separate audit with limited assurance.
2 Scope 1 and Scope 2 (excluding the sale of energy to third parties). The emissions account for 96% of total Scope 1 and Scope 2 emissions in relation to the 2018 base year. The target includes greenhouse gases according to the Greenhouse Gas Protocol, which are converted into CO2 equivalents (CO2e). Scope 2 emissions are calculated using the market-based approach in accordance with the Greenhouse Gas Protocol. The target is aligned with limiting global warming to a global average of 1.5°C, and is thus science-based. It has not been externally audited.
3 Scope 3.1, raw materials excluding battery materials, excluding services and technical goods, excluding greenhouse gas emissions from BASF trading business. Future adjustment of the baseline in line with the Together for Sustainability guideline (TfS) possible depending on the availability of further primary data. The base year is 2022. Additional information on the calculation method.
4 We define water stress areas as regions in which more than 40% of the available water is used by industry, households and agriculture. Our definition is based on the Water Risk Atlas (Aqueduct 4.0) published by the World Resources Institute. For more information, see wri.org/aqueduct. Our water target also continues to take into account the sites that we identified as water stress sites in accordance with Pfister et al. (2009) prior to 2019, as well as water stress sites according to Aqueduct 3.0.
5 We strive to always act in accordance with the applicable local laws.
The following table shows our targets and the respective degree of achievement for the 2025 business year. Some targets and prior-year figures have been technically adjusted due to the planned divestiture of the automotive OEM coatings, automotive refinish coatings and surface treatment business units and are indicated accordingly.

Degree of target achievement 20251

Profitable growth1

Status 2025                      Target
EBITDA before special items
In the 2028 business year, we want EBITDA before special items to reach a value between €9 billion and €11 billion in moderate to good economic conditions.1 €6.6 billion
2024: €7.2 billion1

€9.0–11.0 billion1
2028

Free cash flow
Cumulative free cash flow is expected to be around €11 billion between 2025 and 2028.1 €1.3 billion
2024: €0.7 billion

~€11.0 billion1
2025–2028

Return on capital employed (ROCE)
In the 2028 business year, we want EBITDA before special items to reach a value between €9 billion and €11 billion in moderate to good economic conditions. 5.8%
2024: 5.1%1

~10%
2028

Dividend per share
We strive for a dividend per share of at least €2.25 annually. €2.252
2024: €2.25

≥€2.25
2025-2028

Distribution to shareholders
Between 2025 and 2028, we want to pay out a total of at least €12 billion to shareholders through dividends and share buybacks. €2.4 billion3

≥€12 billion
2025-2028

1 The target figure (previously €10–12 billion) and the prior-year figure for EBITDA before special items (previously €7.9 billion), the prior-year figure for ROCE (5.1%) and the target figure for free cash flow (previously >€12 billion) have been technically adjusted as a result of the planned divestiture of the automotive OEM coatings, automotive refinish coatings and surface treatment business units.
2 Dividend proposed by the Board of Executive Directors for the 2025 business year
3 In 2025, around €2 billion in dividends for the 2024 business year was paid out to the shareholders of BASF SE and shares were repurchased for €355 million.

Effective climate protection

Status 2025

                      Target

CO2 emissions (Scope 1 and 2)
We want to reduce our absolute CO2 emissions (Scope 1 and 2) by 25% by 2030 compared with 2018.1 16.1 million metric tons CO2e
2024: 17.0 million metric tons

16.4 million metric tons CO2e
2030
2018: 21.9 million metric tons

CO2 emissions (Scope 3.1)
We want to reduce our specific Scope 3.1 emissions by 15% by 2030 compared with 2022.2 1.62 kg CO2/kg raw material
2024: 1.58 kg

1.39 kg CO2/kg raw material
2030
2022: 1.64 kg

1 Scope 1 and Scope 2 (excluding the sale of energy to third parties). The emissions account for 96% of total Scope 1 and Scope 2 emissions in relation to the 2018 base year. The target includes greenhouse gases according to the Greenhouse Gas Protocol, which are converted into CO2 equivalents (CO2e). Scope 2 emissions are calculated using the market-based approach in accordance with the Greenhouse Gas Protocol. The target is aligned with limiting global warming to a global average of 1.5°C, and is thus science-based. It has not been externally audited.
2 Scope 3.1, raw materials excluding battery materials, excluding services and technical goods, excluding greenhouse gas emissions from BASF trading business. Future adjustment of the baseline in line with the Together for Sustainability guideline (TfS) possible depending on the availability of further primary data. The base year is 2022. In 2025, we adjusted the calculation of Scope 3 emissions in category 3.1 due to increased availability of primary and secondary data.

Responsible procurement

Status 2025

                      Target

Sustainability performance
We are striving toward ensuring that annually, 80% of suppliers who underwent a sustainability evaluation during the reporting period, and who had inadequate results in a prior comparable evaluation, improve their sustainability performance. 77%
2024: 76%

80%
2030

More sustainable products

Status 2025

                      Target

Sustainable-Future Solutions
By 2030, we want to achieve more than 50% of BASF sales relevant for TripleS1 from products that make a positive contribution to sustainability. 48.5%
2024: 46.3%

>50%
2030

Loop Solutions
By 2030, we aim to generate sales of €10 billion from products that contribute to the transition to a circular economy. €5.8 billion
2024: €5.7 billion

€10 billion
2030

1 The definition of the relevant portfolio and further information can be found in our TripleS manual at basf.com/en/sustainable-solution-steering.

Resource-efficient and safe production

Status 2025

                      Target

High Severity Process Safety Incidents
We have set ourselves a target of no more than 0.10 High Severity Process Safety Incidents (hsPSI) per 200,000 working hours worldwide by 2030.1 0.04 hsPSI
2024: 0.03 hsPSI

0.10 hsPSI
2030

High Severity Work Process Related Injuries
We have set ourselves a target of no more than 0.05 High Severity Work Process Related Injuries (HSI) per 200,000 working hours worldwide by 2030.1 0.01 HSI
2024: 0.02 HSI

0.05 HSI
2030

Sustainable water management
We aim to introduce sustainable water management at our production sites in water stress areas2 and at our Verbund sites by 2030. 73%
2024: 65%

100%
2030

1 Includes BASF employees, agency workers and contractors
2 We define water stress areas as regions in which more than 40% of the available water is used by industry, households and agriculture. Our definition is based on the Water Risk Atlas (Aqueduct 4.0) published by the World Resources Institute. For more information, see wri.org/aqueduct. Our water target also continues to take into account the sites that we identified as water stress sites in accordance with Pfister et al. (2009) prior to 2019, as well as water stress sites according to Aqueduct 3.0.

Employee engagement and women in leadership positions

Status 2025

                      Target

Employee engagement
We would like to create a work environment in which more than 80% of our employees feel that they can thrive and perform at their best at BASF. 77%
2024: 79%

>80%

Women in leadership positions
We strive to increase the proportion of women in leadership positions with disciplinary responsibility to 30% worldwide by 2030.1 29.9%
2024: 29.3%

30%
2030

1 We strive to always act in accordance with the applicable local laws.
1 With the exception of the financial targets and indicators specified as well as the Scope 1 and Scope 2 emissions, the contents of this chapter are not part of the statutory audit but are part of a separate audit with limited assurance.
Last UpdateFebruary 27, 2026