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Charts BASF Analyst Conference Q1 2013

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Charts accompanying the 1Q2013 Conference Call for investors and analysts on April 26, 2013. Full report at http://on.basf.com/ZLPSLU

Charts accompanying the 1Q2013 Conference Call for investors and analysts on April 26, 2013. Full report at http://on.basf.com/ZLPSLU


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  • 1. Solid 1st quarter of 2013 for BASFFirst Quarter 2013Financial highlightsApril 26, 2013
  • 2. 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.2
  • 3. BASF with a solid start to 2013Business performance Q1’13 Q1’12 vs. Q1’12 Sales €19.7 billion €18.8 billion +5% EBITDA €2.9 billion €3.3 billion (14%) EBIT before special items €2.2 billion €2.0 billion +10% EBIT €2.2 billion €2.6 billion (17%) Net income €1.4 billion €1.7 billion (15%) Reported EPS €1.57 €1.85 (15%) Adjusted EPS €1.67 €1.54 +8% Operating cash flow €2.0 billion €1.5 billion +33%Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ1’13 vs. Q1’12 5% 1% 0% (1%)3BASF Q1 2013 Analyst Conference April 26, 2013  
  • 4. 4 Integration activities on track Key work packages (e.g. IT, finance, human resources) proceed smoothly Integration expected to be completed by end of 2013Integration of Becker Underwood and Pronova BioPharma Water and oilfield & mining activities merged into new global business unit on April 1, 2013 Leather & textile chemicals: concentration of R&D activities at Shanghai Innovation Campus Plastic additives and pigments businesses: downsizing of Swiss operations and R&D activities Total net headcount reduction of about 500 positions by the end of 2015Restructuring measures to strengthen competitiveness of Performance Products segmentBASF Q1 2013 Analyst Conference April 26, 2013Portfolio optimization Joint $500 million investment to build integrated aroma ingredient complex 110 new jobs will be created in Kuantan, Malaysia Investment to meet globally growing demand in flavor and fragrance industry, especially in AsiaExpansion of the existing joint venture with PETRONAS in Kuantan, Malaysia
  • 5. 5ChemicalsEarnings increase due to higher marginsIntermediates700+4%Monomers1,680+4%Petrochemicals2,016(9%)€4,396-3%556601 5694456500200400600800Q1 Q2 Q3 Q4 Q1EBIT before special items (million €)20132012Q1’13 segment sales (million €) vs. Q1’12Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ1’13 vs. Q1’12 (2%) 1% (1%) (1%)BASF Q1 2013 Analyst Conference April 26, 2013 
  • 6. 6Performance ProductsStable volumes but lower earningsPerformanceChemicals8910%Care Chemicals1,2750%€3,880-2%Paper Chemicals362(8%)Q1’13 segment sales (million €) vs. Q1’12Nutrition& Health493+4% Dispersions& Pigments859(7%)452 4423441833790200400600Q1 Q2 Q3 Q4 Q1EBIT before special items (million €)20132012Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ1’13 vs. Q1’12 0% (2%) 1% (1%) BASF Q1 2013 Analyst Conference April 26, 2013
  • 7. 7Functional Materials & SolutionsIncreased demand in Performance MaterialsCatalysts1,453(1%)ConstructionChemicals458(9%)Coatings698(2%)€4,181+0%Q1’13 segment sales (million €) vs. Q1’12257216231 228 239050100150200250300Q1 Q2 Q3 Q4 Q1EBIT before special items (million €)20132012Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ1’13 vs. Q1’12 2% 0% 0% (2%)BASF Q1 2013 Analyst Conference April 26, 2013PerformanceMaterials1,572+6%
  • 8. 8Agricultural SolutionsExcellent start into the year, record sales and earningsQ1’13 segment sales (million €) vs. Q1’12 EBIT before special items (million €)201320120200400Q1 Q12013201205001.0001.500Q1 Q11,5564984191,327Sales developmentPeriod Volumes Prices Portfolio CurrenciesQ1’13 vs. Q1’12 13% 1% 4% (1%)BASF Q1 2013 Analyst Conference April 26, 2013  
  • 9. 9Oil & GasSales growth due to higher productionExploration &Production789+14%Natural GasTrading3,871+21%€4,660+20%Q1’13 segment sales (million €) vs. Q1’12 EBIT bSI/Net income (million €)2014151623970200400600800Q1/2012 Net Income Q1/2013 Net IncomeNatural Gas TradingExploration & ProductionNet income640Sales developmentPeriod Volumes Prices/Currencies PortfolioQ1’13 vs. Q1’12 19% 1% 0% BASF Q1 2013 Analyst Conference April 26, 2013439 468630
  • 10. 10Review of “Other”Million € Q1’13 Q1’12Sales 1,065 976EBIT before special items (182) (314)thereof Corporate researchGroup corporate costsCurrency results, hedges and othervaluation effectsStyrenics, fertilizers, other businesses(97)(56)5659(97)(58)(206)145Special items (28) 578EBIT (210) 264BASF Q1 2013 Analyst Conference April 26, 2013
  • 11. 11Strong operating cash flow of €2 billionMillion € Q1’13 Q1’12Cash provided by operating activities 2,041 1,539thereof Changes in net working capitalMiscellaneous items(713)615(310)(560)Cash provided by investing activities (1,637) 176thereof Payments related to tangible / intangible assets (831) (697)Acquisitions / divestitures (514) 683Cash used in financing activities 363 (44)thereof Changes in financial liabilitiesDividends429(66)33(72) Net working capital increased by €713 million mainly as a result of higher tradeaccounts receivable Cash outflows in acquisitions/divestitures of -€514 million primarily as a result of thePronova BioPharma acquisition Free cash flow amounted to €1.2 billion, an increase of €368 million vs. Q1 2012First quarter 2013BASF Q1 2013 Analyst Conference April 26, 2013
  • 12. Balance sheet remains strongBalance sheet March 31, 2013 vs. Dec. 31, 2012(billion €)Liquid fundsAccountsreceivableLong-termassets27.713.323.235.39.51.6OtherliabilitiesFinancialdebtStockholders’equityDec 312012Dec 312012March 312013March 31201362.725.612.822.3InventoriesOther assets9.63.462.7Highlights March 31, 2013 Long term assets increasedmainly due to consolidation offormer Pronova BioPharmabusiness Short term assets up due toincrease in accounts receivable Increase in financial debt due toissuance of long-term bonds Net debt: €10.9 billion Equity ratio: 41%36.511.12.49.93.766.73.166.7Disposalgroup2.5Disposalgroup123.3 2.0BASF Q1 2013 Analyst Conference April 26, 2013
  • 13. 13 Excluding the effects of acquisitions and divestitures, we strive to increase our sales volumesin 2013 We aim to exceed the 2012 restated levels in sales and EBIT before special items The expected increase in demand, together with our measures to improve operationalexcellence and raise efficiency, will contribute to this We aim to earn a high premium on cost of capital once again in 2013Outlook 2013 GDP: +2.4% Industrial production: +3.4% Chemical production: +3.6% US$ / Euro: 1.30 Oil price (US$ / bbl): 110Assumptions 2013BASF Q1 2013 Analyst Conference April 26, 2013Outlook 2013 confirmed
  • 14. 14
  • 15.  Dividend proposal of €2.60 pershare (+4%) Average annual dividendincrease of 15.7%(2003-2012) Attractive dividend yield of3.7% in 2012** Dividend yield above 3% in anygiven year since 20033.9%Attractive shareholder returnKey factsDividend per share (€)0.700.851.001.501.95 1.951.702.202.50 2.600.00.51.01.52.02.53.02003 2006 2009 20120.501.001.502.003.1%* Dividend yield based on share price at year-end3.2% 3.1% 4.1% 3.8% 7.0%Yield*** Based on BASF share price of €71.15on Dec 28., 2012Proposal:3.7%2.504.6%3.003.7%BASF Q1 2013 Analyst Conference April 26, 2013 15