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150 years
150 years
Annual Press Conference Ludwigshafen, February 27, 2015
150 years
Higher dividend proposed
Proposed dividend of €2.80 per share in 2014 (2013: 2.70 €)
Long-term performance of BASF shares still clearly surpasses benchmark indexes
+14.5
+9.6
+3.8
+8.7
MSCI WorldChemicals
Euro STOXX 50
DAX 30
BASF share
Performance of BASF shares compared with indexes (2004-2014) %
Dividend per share €
2
2.20 2.50 2.60 2.70 2.80
2010 2011 2012 2013 2014
150 years
BASF profitably grew again in 2014 – despite challenging conditions
Sales in fourth quarter nearly at level of prior-year quarter; slightly higher volumes and positive currency effects could not fully compensate for oil-price related lower sales price
Sales in full year 2014 at previous year’s level
Increased EBIT before special items in fourth quarter thanks to Chemicals and Agricultural Solutions
Higher EBIT before special items in full year 2014 due to earnings improvement in the chemicals business
18,047
74,326
18,149
73,973
4th quarter Jan.-Dec.
Sales million €
-1%
+0%
2014 2013
1,459
7,357
1,419
7,077
4th quarter Jan.-Dec.
EBIT before special items million €
+3%
+4%
3
150 years “We create chemistry” strategy on track
Focus on customer industries, e.g. automotive industry
Globalization of R&D, Innovation Campus Asia Pacific
Strengthening of the Production Verbund, TDI in Ludwigshafen
4
150 years
New superabsorbent technology
The innovation: superabsorbent particles with round shape that better absorb and distribute the liquid
Thanks to SAVIVATM producers of diapers can reduce raw material consumption and increase the wearing comfort of their products
Investment of up to €500 million in the coming years to refit existing plants
5
150 years
150 years of BASF – Anniversary themes
Food Smart energy
6
Urban living
150 years
Outlook for BASF Group
Outlook for full year 2015 Slight sales increase expected, due in part to sales
growth in Functional Materials & Solutions and Performance Products
EBIT before special items likely to match level of 2014
Economic environment 2015 GDP growth: +2.8% Growth in chemical production*: +4.2% Exchange rate: $1.20 per euro Oil price (Brent): $60-$70 per barrel
*excluding pharmaceuticals 7
150 years
Chemicals
Performance Products
Increase in EBIT before special items in Chemicals and Performance Products in 2014
Sales million €
EBIT before special items million €
Sales were stable; higher volumes, especially in Petrochemicals
Earnings increase due to higher contributions of Petrochemicals and Intermediates
Slight sales decrease due to negative currency effects
Increase in earnings mainly due to lower fixed costs as a consequence of restructuring measures
16,968 16,994
2014 2013
0%
15,433 15,534
2014 2013
2,367 2,182
2014 2013
1,455 1,365
2014 2013
-1%
+8%
+7%
8
150 years
Earnings increased considerably in Functional Materials & Solutions and decreased in Agricultural Solutions in 2014
Sales million €
EBIT before special items million €
Slight sales increase especially thanks to considerably higher volumes in products for the automotive industry
Considerable earnings increase due to higher earnings in Catalysts and Coatings
Slight increase in sales thanks to higher demand for fungicides and herbicides
Negative currency effects, declining margins and higher R&D expenditures responsible for earnings decrease
17,725 17,252
2014 2013
+3%
5,446 5,227
2014 2013
1,197 1,070
2014 2013
1,109 1,222
2014 2013
-9%
+12%
+4%
Functional Materials & Solutions
Agricultural Solutions
9
150 years
Slight sales increase and slight earnings decrease in Oil & Gas segment in 2014
Sales million €
EBIT before special items million €
Slight increase in sales due to higher volumes in the Natural Gas Trading business sector
Slight earnings decrease as a result of lower contributions from Exploration & Production and Natural Gas Trading
15,145 14,776
2014 2013
+2% 1,795 1,856
2014 2013
-3%
Oil & Gas
10
150 years
57%
16% 6%
21%
2014 sales and EBIT before special items in the regions*
Sales BASF Group
74,326
North America
South America, Africa, Middle East Asia Pacific
Europe
0% Sales 11,643
Sales 42,854
-1% Sales 4,362
Sales 15,467 +6%
-1%
EBIT** 1,566 +27
+31 EBIT** 418
EBIT** 4,759 +450
*by location of company, **before special items
-228 EBIT** 614
million € change to previous year for sales in %, for EBIT** in million €
11
150 years
2014 reconciliation to net income
million € ∆%
vs. 2013
EBIT before special items 7,357 +4
EBIT 7,626 +7
Financial result -423 +24
Income before taxes and minority interests 7,203 +9
Net income 5,155 +8
€ ∆ vs. 2013
in €
Earnings per share (EPS) 5.61 +0.39
Adjusted EPS 5.44 +0.13 EBIT before special items
Net income
5.2
Special items
Taxes and minority interests
Financial result 7.4
billion €
12
150 years
High operating cash flow in 2014
At €7.0 billion, cash provided by operating activities below previous year’s level (2013: €8.1 billion)
Payments related to property, plant and equipment and intangible assets increased to €5.3 billion (2013: €4.9 billion)
Free cash flow with €1.7 billion significantly below previous year (2013: €3.2 billion)
Free cash flow
7.0
Cash provided by operating activities
1.7
Payments related to property, plant and equipment and intangible assets
5.3
billion €
13
150 years
150 years