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Charts BASF analyst conference FY 2012
 

Charts BASF analyst conference FY 2012

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Charts accompanying the FY2012 Analyst Conference for investors and analysts on February 26, 2013.

Charts accompanying the FY2012 Analyst Conference for investors and analysts on February 26, 2013.

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    Charts BASF analyst conference FY 2012 Charts BASF analyst conference FY 2012 Presentation Transcript

    • Q4/FY’2012 Analyst ConferenceLudwigshafen, February 26, 2013
    • Cautionary note regardingforward-looking statementsThis presentation may contain forward-looking statements that are subject to risks anduncertainties, including those pertaining to the anticipated benefits to be realized from theproposals described herein. Forward-looking statements may include, in particular,statements about future events, future financial performance, plans, strategies,expectations, prospects, competitive environment, regulation and supply and demand.BASF has based these forward-looking statements on its views and assumptions withrespect to future events and financial performance. Actual financial performance could differmaterially from that projected in the forward-looking statements due to the inherentuncertainty of estimates, forecasts and projections, and financial performance may be betteror worse than anticipated. Given these uncertainties, readers should not put undue relianceon any forward-looking statements. The information contained in this presentation is subjectto change without notice and BASF does not undertake any duty to update the forward-looking statements, and the estimates and assumptions associated with them, except to theextent required by applicable laws and regulations.BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 2
    • BASF increased sales and earningsBusiness performance Q4’12 vs. Q4’11 FY’12 vs. FY’11 Sales €19.6 billion +9% €78.7 billion +7% EBITDA €2.7 billion (8%) €12.5 billion +4% EBIT before special items €1.8 billion +18% €8.9 billion +5% EBIT €1.6 billion (16%) €9.0 billion +5% Net income €1.0 billion (13%) €4.9 billion (21%) Reported EPS €1.06 (14%) €5.31 (21%) Adjusted EPS €1.35 +29% €5.71 (9%) Operating cash flow €1.6 billion (24%) €6.7 billion (5%)Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ4’12 vs. Q4’11  6%  1% 0%  2%FY’12 vs. FY’11  3%  1%  (1%)  4%BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 3
    • Ongoing portfolio developmentUpstream Downstream Transaction with Statoil Becker Underwood Gazprom asset swap Pronova BioPharmaBASF 4Q/FY’2012 Analyst Conference__February 26, 2013 4
    • Strong commitment to R&DR&D expenditures Key facts(billion €)  €1.7 billion R&D expenditures 2.0 in 2012 1.7  Increase of R&D spending 1.6 planned for 2013 1.5 1.5 1.4 1.4  ~10,500 employees in R&D  ~3,000 projects 1.0  Research Verbund: About 1,950 partnerships with universities, start-ups 0.5 and industry partners  Target 2020: 0.0 €30 billion in sales from 2008 2009 2010 2011 2012 innovations younger than 10 yearsBASF 4Q/FY’2012 Analyst Conference__February 26, 2013 5
    • Innovation example:BOOST™ cushioning material Key facts  Joint development with adidas, illustrating our customer focus  Revolutionary cushioning technology that provides highest energy return in the running industry  Solid granular material (TPU) is literally blown up and turned into thousands of small energy capsules  With their unique cell structure, these energy capsules store and unleash energy more efficiently in every stride Photo: adidasBASF 4Q/FY’2012 Analyst Conference__February 26, 2013 6
    • Attractive shareholder returnDividend per share (€) Key facts  Dividend proposal of €2.60 per share (+4%) Proposal: 3.0 3.00  Average annual dividend 2.50 2.60 2.5 2.50 increase of 15.7% 2.20 1.95 1.95 (2003-2012) 2.0 2.00 1.70 1.50  Attractive dividend yield of 1.5 1.50 3.7% in 2012** 1.00 1.0 1.00 0.85 0.70  Dividend yield above 3% in any 0.5 0.50 given year since 2003 0.0 2003 2006 2009 2012Yield* 3.1% 3.2% 3.1% 4.1% 3.8% 7.0% 3.9% 3.7% 4.6% 3.7% * Dividend yield based on share price at year-end ** Based on BASF share price of €71.15 on Dec 28, 2012BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 7
    • Delivering consistent, long-term valueAverage annual performancewith dividends reinvested Last 10 years Last 5 years January 2003 – December 2012 January 2008 – December 2012 +19.1% BASF +11.8% +4.0% Euro Stoxx 50 (6.5%) +10.2% DAX 30 (1.2%) +10.6% MSCI World Chemicals +1.6%0 5 10 15 20BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 8
    • Outlook 2013Expectations for the global economy 2012 Forecast 2013GDP 2.2% 2.4%Chemicals (excl. pharma) 2.6% 3.6%Industrial production 2.4% 3.4%US$ / Euro 1.28 1.30Oil price: Brent (US$ / bbl) 112 110BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 9
    • Outlook 2013 by regionChemical production (excl. pharma) 2012 Forecast 2013World 2.6% 3.6%EU-27 (1.4%) 0.3%USA 2.5% 1.9%Asia (excl. Japan) 7.7% 8.1%Japan (4.5%) (0.6%)South America 1.9% 3.7%BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 10
    • Outlook BASF Group 2013* Excluding the effects of acquisitions and divestitures, we strive to increase our sales volumes in 2013. We want to exceed the 2012 levels in sales and EBIT before special items. The expected increase in demand, together with our measures to improve operational excellence and raise efficiency, will contribute to this. We aim to earn a high premium on cost of capital once again in 2013. * In our forecast, we have applied the previous consolidation method in order to ensure comparability with the prior year. Changes due to IFRS 10 and 11 are not considered yet. However, the qualitative statements made in our forecast remain valid.BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 11
    • ChemicalsLower margins and plant shutdownsQ4’12 segment sales (million €) vs. Q4’11 EBIT before special items (million €)Intermediates Inorganics 600 2,441697 470+10% +32% 2,000 1,717 381 400 355 €3,436 +10% 200 1,000 Petrochemicals 2,269 0 0 +6% Q4 11 Q4 12 FY 11 FY 12Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ4’12 vs. Q4’11  2%  3%  3%  2%FY’12 vs. FY’11  (3%)  (2%)  8%  4%BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 12
    • PlasticsPolyurethanes drive earningsQ4’12 segment sales (million €) vs. Q4’11 EBIT before special items (million €)Polyurethanes 300 1,2031,648 1,200+18% 200 180 873 €2,877 800 110 +12% 100 400 Performance Polymers 0 0 1,229 Q4 11 Q4 12 FY 11 FY 12 +4%Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ4’12 vs. Q4’11  4%  5% 0%  3%FY’12 vs. FY’11  (3%)  2%  1%  4%BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 13
    • Performance ProductsLower margins and higher fixed costs impact earningsQ4’12 segment sales (million €) vs. Q4’11 EBIT before special items (million €)Care Chemicals 300 2,000 Performance 1,7271,204 Chemicals 220 1,428+2% 1,500 867 200 183Nutrition €3,735 +5% 1,000& Health482 +3% 100+9% 500Paper Chemicals Dispersions 0 0387 & Pigments Q4 11 Q4 12 FY 11 FY 12(1%) 795 +0%Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ4’12 vs. Q4’11  4%  (2%)  (1%)  2%FY’12 vs. FY’11  (2%) 0% 0%  3%BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 14
    • Functional SolutionsStrong automotive demand drives earningsQ4’12 segment sales (million €) vs. Q4’11 EBIT before special items (million €)Catalysts Construction 150 141 600 559 5611,488 Chemicals(7%) 558 120 +4% 88 400 €2,794 90 (3%) 60 200 30 Coatings 748 0 0 +1% Q4 11 Q4 12 FY 11 FY 12Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ4’12 vs. Q4’11  (5%)  (1%)  2%  1%FY’12 vs. FY’11  (3%)  (2%)  2%  4%BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 15
    • Agricultural SolutionsRecord year with earnings above the €1 billion markQ4’12 segment sales (million €) vs. Q4’11 EBIT before special items (million €)1,000 50 1,037 877 822 41 1000 800 40 810 33 800 600 30 600 400 20 400 200 10 200 0 0 0 Q4 Q4 Q4 11 Q4 12 FY 11 FY 12 2011 2012Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ4’12 vs. Q4’11  2%  (1%)  2%  4%FY’12 vs. FY’11  6%  1%  0%  5%BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 16
    • Oil & GasSignificantly higher productionQ4’12 segment sales (million €) vs. Q4’11 EBIT before special items / Net income (million €)Exploration & 4,000Production1,383 1,000 3,000+36% €4,768 2,000 564 3,622 500 903 +21% 564 1,000 1,686 1,064 1,201 Natural Gas 276 250 482 0 121 96 0 425 Trading Q4 11 Q4 12 FY 2011 FY 2012 3,385 Exploration & Production Natural Gas Trading Net income +16% Non-compensable oil taxes: Q4 2011: € 159 million Q4 2012: € 492 million FY 2011: € 439 million FY 2012: €1,880 millionSales developmentPeriod Volumes Price/Currencies PortfolioQ4’12 vs. Q4’11  18%  3% 0%FY’12 vs. FY’11  29%  10% 0%BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 17
    • Review of ’Other’ (million €) Q4 2012 Q4 2011 2012 2011 Sales 1,161 1,112 4,793 6,275 thereof Styrenics — — — 2,393 EBIT before special items (102) (11) (839) (404) thereof Corporate research (105) (92) (391) (348) Group corporate costs (73) (74) (255) (246) Currency results, hedges and other (92) (107) (460) (199) valuation effects Styrenics, fertilizers, other businesses 18 65 183 408 Special items 154 623 572 582 EBIT 52 612 (267) 178BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 18
    • Strong operating cash flow in 2012Full year 2012(billion €) 10 8 (4.1) 6 6.7 (0.3) 4 (2.6) (2.6) 2 2.0 1.8 0 Cash Operating Capex* Acquisitions Dividends Cash 12/31/11 CF & Divestitures 12/31/12 * Payments related to intangible assets and property, plant and equipmentBASF 4Q/FY’2012 Analyst Conference__February 26, 2013 19
    • Balance sheet remains strongBalance sheet 2012 vs. 2011 Highlights 2012(billion €)  Increase of long-term assets 64.3 64.3 by €1.5 billion, mainly due to 61.2 61.2 acquisitions  Creation of disposal group for Stockholders’ Long-term 25.4 25.8 Equity natural gas trading leads to assets 34.1 35.5 lower inventories, receivables 13.4 Financial and payables debt Disposal group 3.4 13.0  Higher provisions for pension 2.2 Disposal Inventories 10.1 9.9 group obligations due to reduced Accounts discount rates receivable 22.9 Other 10.9 10.1 22.8 liabilities  Equity ratio: 40% Other assets 3.6 4.1 Liquid funds 2.0 1.8  Net debt: €11.6 billion Dec 31 Dec 31 Dec 31 Dec 31 2011 2012 2011 2012  Net debt/EBITDA ratio: 0.9BASF 4Q/FY’2012 Analyst Conference__February 26, 2013 20