BASF Analyst Conference Q1 2012
Upcoming SlideShare
Loading in...5
×
 

Like this? Share it with your network

Share

BASF Analyst Conference Q1 2012

on

  • 1,760 views

Charts accompanying the 1Q2012 Conference Call for investors and analysts on April 27, 2012

Charts accompanying the 1Q2012 Conference Call for investors and analysts on April 27, 2012

Statistics

Views

Total Views
1,760
Views on SlideShare
1,723
Embed Views
37

Actions

Likes
0
Downloads
43
Comments
0

5 Embeds 37

http://www.basf.com 31
http://twitter.com 2
http://is-servicedesk.basf.net 2
http://basf.com 1
http://www.mefeedia.com 1

Accessibility

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

BASF Analyst Conference Q1 2012 Presentation Transcript

  • 1. BASF with solid start to 2012 First Quarter 2012 Financial highlights April 27, 2012BASF 1st Quarter 2012 Analyst Conference Call 1
  • 2. Forward-looking statementsThis presentation includes forward-looking statements that are subject to risks anduncertainties, including those pertaining to the anticipated benefits to be realized from theproposals described herein. This presentation contains a number of forward-lookingstatements including, in particular, statements about future events, future financialperformance, plans, strategies, expectations, prospects, competitive environment,regulation and supply and demand. BASF has based these forward-looking statements onits views with respect to future events and financial performance. Actual financialperformance of the entities described herein could differ materially from that projected in theforward-looking statements due to the inherent uncertainty of estimates, forecasts andprojections, and financial performance may be better or worse than anticipated. Given theseuncertainties, readers should not put undue reliance on any forward-looking statements.Forward-looking statements represent estimates and assumptions only as of the date thatthey were made. The information contained in this presentation is subject to change withoutnotice and BASF does not undertake any duty to update the forward-looking statements,and the estimates and assumptions associated with them, except to the extent required byapplicable laws and regulations.BASF 1st Quarter 2012 Analyst Conference Call Photography: BASF Archive, Fotolia, J van der Wolf/Shutterstock, Agrarmotive 2
  • 3. BASF with solid start to 2012First quarter highlights Business performance Q1’12 vs. Q1’11  Sales €20.6 billion +6%  EBITDA €3.9 billion +16%  EBIT before special items €2.5 billion (7%)  EBIT €3.1 billion +22%  Net income €1.7 billion (28%)  EPS €1.88 (28%)  Adjusted EPS €1.57 (19%)  Sales increase primarily driven by higher prices, volumes stable  Demand in chemical activities did not match the exceptionally strong level of Q1 2011  Agricultural Solutions and Oil & Gas with strong start into the year  Divestiture of fertilizer activities completed, €645 million disposal gain booked as special itemBASF 1st Quarter 2012 Analyst Conference Call 3
  • 4. Important milestones in Q1 2012 Strengthening of Investments in Active portfolio technology platform emerging markets management Acquisitions of battery  Expansion of partnership with  Divestiture of fertilizer activities materials activities: PETRONAS in Malaysia completed end of Q1 2012 Sion Power: Li-sulfur batteries  Joint investments of ~€1 billion  Purchase price: ~€830 million, Ovonic Battery: Ni-metalhydride planned including deferred part of €130 battery technology  Construction of new down- million payable 2013-2016 Merck’s electrolyte activities stream plants at RAPID  Disposal gain: €645 million complex in South Johor Novolyte Technologies: Electrolyte formulations for Li-  Expansion of Kuantan site ion batteries  Implementation: 2015-2018BASF 1st Quarter 2012 Analyst Conference Call 4
  • 5. ChemicalsMargins improved over Q4 2011 thanks to higher pricesQ1’12 segment sales (million €) vs. Q1’11 EBIT before special items (million €)Intermediates Inorganics 354683 +0%(4%) €3,484 +6% Petrochemicals 2,447 +11% 2011 2012Sales development Period Volumes Prices Portfolio Currencies Q1’12 vs. Q1’11  (4%)  (1%)  8%  3%BASF 1st Quarter 2012 Analyst Conference Call 5
  • 6. PlasticsTDI and MDI margins improved on higher prices vs. Q4 2011Q1’12 segment sales (million €) vs. Q1’11 EBIT before special items (million €)Polyurethanes1,409(5%) €2,678 (4%) Performance Polymers 1,269 (3%) 2011 2012Sales development Period Volumes Prices Portfolio Currencies Q1’12 vs. Q1’11  (9%)  2%  1%  2%BASF 1st Quarter 2012 Analyst Conference Call 6
  • 7. Performance ProductsSolid demand but below exceptionally high level of Q1 2011Q1’12 segment sales (million €) vs. Q1’11 EBIT before special items (million €)Care Chemicals Performance1,283 Chemicals(7%) 900 +1%Nutrition €3,999& Health 0%476+1% DispersionsPaper Chemicals & Pigments410 930+4% +10% 2011 2012Sales development Period Volumes Prices Portfolio Currencies Q1’12 vs. Q1’11  (5%)  3% 0%  2%BASF 1st Quarter 2012 Analyst Conference Call 7
  • 8. Functional SolutionsGood performance driven by high demand from automotiveQ1’12 segment sales (million €) vs. Q1’11 EBIT before special items (million €)Catalysts Construction1,630 Chemicals(3%) 502 +7% €2,845 +1% Coatings 713 +6% 2011 2012Sales development Period Volumes Prices Portfolio Currencies Q1’12 vs. Q1’11  (4%)  (1%)  4%  2%BASF 1st Quarter 2012 Analyst Conference Call 8
  • 9. Agricultural Solutions Excellent start into the year Q1’12 segment sales (million €) vs. Q1’11 EBIT before special items (million €) 1,327 419 1,230 400 3431.000 200 500 0 0 Q1 Q1 Q1 Q1 2011 2012 2011 2012Sales development Period Volumes Prices Portfolio Currencies Q1’12 vs. Q1’11  3%  3% 0%  2% BASF 1st Quarter 2012 Analyst Conference Call 9
  • 10. Oil & GasHigher volumes and prices boosted sales and earningsQ1’12 segment sales (million €) vs. Q1’11 EBIT bSI/Net income (million €)Exploration & 1,157 1,200Production1,336 1,000+25% 800 744 €4,975 600 955 +44% 400 626 Natural Gas 200 416 306 Trading 118 202 0 3,639 Q1/2011 Q1/2012 +52% Exploration & Production Non compensable oil taxes (Q1 2011: €280 million; Q1 2012: €451 million) Natural Gas Trading Net incomeSales development Period Volumes Prices/Currencies Portfolio Q1’12 vs. Q1’11  22%  23%  (1%)BASF 1st Quarter 2012 Analyst Conference Call 10
  • 11. Review of “Other” Million € Q1 2012 Q1 2011 Sales 1,282 1,812 thereof Styrenics - 843 EBIT before special items (330) (209) thereof Corporate research (95) (83) Group corporate costs (58) (55) Currency results, hedges and other (189) (78) valuation effects Styrenics, fertilizers, other businesses 122 185 Special items 579 (35) EBIT 249 (244)BASF 1st Quarter 2012 Analyst Conference Call 11
  • 12. Operating cash flow at €1.6 billion in Q1 ‘12 Million € Q1 2012 Q1 2011 Cash provided by operating activities 1,571 2,255 thereof Changes in net working capital (431) 260 Cash provided by investing activities 159 257 thereof Payments related to tangible / intangible assets (720) (547) thereof Acquisitions / divestitures 683 - Cash used in financing activities (28) (1,200) thereof Changes in financial liabilities 54 (1,073) Dividends (77) (127) First quarter 2012  Net working capital rose by €0.4 billion mainly as a result of higher prices  Cash inflows in acquisitions/divestitures of ~€0.7 billion primarily due to the divestiture of our fertilizer activities  Free cash flow amounted to ~€0.9 billion  Net debt reduced by €1.5 billion to €9.4 billion since December 31, 2011BASF 1st Quarter 2012 Analyst Conference Call 12
  • 13. Outlook 2012 confirmed Outlook 2012  BASF aims to exceed the record levels of sales and EBIT before special items achieved in 2011  In H1 2012, BASF will most likely not achieve the exceptionally high results of the comparable period in 2011. However, we aim to outperform H2 2011.  In 2012, BASF will strive again to earn a high premium on cost of capital Assumptions 2012  GDP: +2.7%  Industrial production: +4.1%  Chemical production: +4.1%  US$ / Euro: 1.30  Oil price (US$ / bbl): 110BASF 1st Quarter 2012 Analyst Conference Call 13
  • 14. Delivering attractive shareholder returns Dividend per share Dividend payments in €  €2.50 per share proposed to Proposal 2.50 AGM, dividend yield 4.6%* 2.20  15% average annual dividend 1.95 1.95 increase for 2002-2011 period 1.70  Dividend yield above 3% in 1.50 any given year since 2002, total payout €14.5 billion 1.00 0.85 0.70 0.70 Share buy-backs  Between 1999 and 2008, BASF bought back 28.65% of shares outstanding, spent 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 €9.9 billion Dividend yield*  AGM requested to approve new share buy-back program; 3.9% 3.1% 3.2% 3.1% 4.1% 3.8% 7.0% 3.9% 3.7% 4.6% up to 10% of shares, 5 years * Dividend yield based on share price at year-endBASF 1st Quarter 2012 Analyst Conference Call 14
  • 15. BASF 1st Quarter 2012 Analyst Conference Call 15