Full Year 2024 BASF SE Earnings Call Transcript
Key Points
- BASF SE (BASFY) reported an 18% growth in EBITDA before special items for its core businesses compared to 2023.
- The company exceeded its free cash flow forecast, achieving EUR750 million against a forecast range of EUR100 million to EUR600 million.
- BASF SE (BASFY) made significant progress in portfolio management, including the sale of its Decorative Paints business to Sherwin-Williams.
- The Agricultural Solutions segment showed strong volume growth in all regions, maintaining specific margins at the level of the prior year quarter.
- BASF SE (BASFY) plans to distribute at least EUR12 billion to shareholders from 2025 to 2028, including dividends and share buybacks.
- Currency headwinds, particularly related to the Brazilian real, slightly dampened sales growth.
- The Surface Technologies segment recorded lower volumes, particularly in mobile emission catalysts and precious metal services, leading to a slight decline in EBITDA before special items.
- The Nutrition & Care segment faced production outages due to a fire, impacting volumes in the Nutrition & Health division.
- The Chemicals segment experienced a slight decline in specific margins despite higher margins in intermediates.
- Net debt increased by EUR2.2 billion to EUR18.8 billion at the end of 2024, mainly due to higher long-term debt.
Good morning ladies and gentlemen. Welcome to BASF's conference call for analysts and investors on the fourth quarter and full year 2024 results. Today's presentation is being recorded. (Event Instructions)
Today's 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.
BASF does not assume any obligation to update the forward-looking statements contained in this presentation above and beyond the legal requirements.
The audited BASF Report 2024 will be published on March 21. The key financial figures published today are, therefore, to be regarded as preliminary. From today's perspective, no adjustments are expected.
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