Full Year 2025 BASF SE Earnings Call Transcript

Feb 27, 2026 / 08:00AM GMT

Release Date Price: €48.57 (-2.08%)

Transcript

Key Points

Positve

BASF SE (BASFY) successfully started up all major assets at the Zhanjiang Verbund site, demonstrating strong operational execution.
The company achieved a remarkable volume increase of 13% in China and posted solid growth in North America.
BASF SE (BASFY) is on track to achieve IPO readiness for its Agricultural Solutions business by 2027, with strong sales and EBITDA performance in 2025.
The company plans to reduce capital expenditures significantly, aiming for high capital efficiency and optimizing existing assets.
BASF SE (BASFY) has committed to attractive shareholder distributions, proposing a dividend of EUR2.25 per share and initiating a share buyback program.

Negative

Overall sales declined considerably due to strong currency headwinds and slightly lower prices.
EBITDA before special items decreased to EUR6.6 billion in 2025, impacted by lower margins and negative currency effects.
The Chemicals segment faced considerable price declines due to ongoing competitive pressure and lower raw material prices.
The company expects a slightly negative earnings contribution from the Zhanjiang Verbund site in its first year of operations.
BASF SE (BASFY) anticipates significant headwinds in 2026, with no meaningful market upswing or easing of geopolitical tensions expected.

Stefanie Wettberg;

BASF SE - Senior Vice President - Investor Relations

Good morning, everyone. Welcome to BASF's conference call for analysts and investors on the fourth quarter and full year 2025. Today's presentation is being recorded. (Operator 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.

With me on the call today are CEO, Markus Kamieth; and CFO, Dirk Elvermann. Please be aware that we have already posted the speech on our website at basf.com/fy2025.

Now I would like to hand over to Markus.

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