Third
Quarter 2013
Financial highlights
October 25, 2013

Robust 3rd Quarter 2013 for BASF
Cautionary note regarding
forward-looking statements
This presentation may contain forward-looking statements that are sub...
Robust 3rd quarter 2013 for BASF
Business performance

Q3’13

vs. Q3’12

Q1-Q3’13

vs. Q1-Q3’12

€17.7 billion

+1.5%

€55...
Important corporate developments

Restructuring in Pigments
business
 Optimization of global
production network

Cash off...
Chemicals
Pressure on volumes and margins
Q3’13 segment sales (million €) vs. Q3’12

EBIT before special items (million €)...
Performance Products
Growth in volumes and earnings
EBIT before special items (million €)

Q3’13 segment sales (million €)...
Functional Materials & Solutions
Sound overall demand, especially in automotive
Q3’13 segment sales (million €) vs. Q3’12
...
Agricultural Solutions
Sales growth despite pronounced currency headwinds
Q3’13 segment sales (million €) vs. Q3’12
1.200
...
Oil & Gas
Substantially higher net income
Q3’13 segment sales (million €) vs. Q3’12
Exploration &
Production
754

Natural ...
Review of “Other”
Million €
Sales
EBIT before special items
Thereof Corporate research
Group corporate costs
Currency resu...
Cash Flow
Excellent cash flow in Q1-Q3 2013
Million €

Q1-Q3’13

Q1-Q3’12

Cash provided by operating activities

5,982

5...
Outlook 2013
Outlook 2013

 We do not anticipate an acceleration of global economic growth in the 4th quarter of 2013
 F...
13
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BASF Q3 Results Charts at Analyst Conference

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Charts accompanying the 3Q2013 Conference Call for investors and analysts on October 25, 2013.
More: http://on.basf.com/1gL2I7t
Full report: http://on.basf.com/1eOQjuH

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BASF Q3 Results Charts at Analyst Conference

  1. 1. Third Quarter 2013 Financial highlights October 25, 2013 Robust 3rd Quarter 2013 for BASF
  2. 2. Cautionary note regarding forward-looking statements This presentation may contain forward-looking statements that are subject to risks and uncertainties, including those pertaining to the anticipated benefits to be realized from the proposals 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 with respect to future events and financial performance. Actual financial performance could differ materially from that projected in the forward-looking statements due to the inherent uncertainty of estimates, forecasts and projections, and financial performance may be better or worse than anticipated. Given these uncertainties, readers should not put undue reliance on any forward-looking statements. The information contained in this presentation is subject to change without notice and BASF does not undertake any duty to update the forwardlooking statements, and the estimates and assumptions associated with them, except to the extent required by applicable laws and regulations. BASF Q3 2013 Analyst Conference Call October 25, 2013 2
  3. 3. Robust 3rd quarter 2013 for BASF Business performance Q3’13 vs. Q3’12 Q1-Q3’13 vs. Q1-Q3’12 €17.7 billion +1.5% €55.8 billion +3%  Sales  EBITDA €2.5 billion +16% €7.8 billion (1%)  EBIT before special items €1.7 billion +15% €5.7 billion +6%  EBIT €1.7 billion +20% €5.6 billion (1%)  Net income €1.1 billion +18% €3.7 billion (4%)  Reported EPS €1.20 +19% €4.03 (4%)  Adjusted EPS €1.28 +10% €4.35 +1%  Operating cash flow €2.0 billion +21% €6.0 billion +19% Sales development Q3’13 vs. Q3’12 BASF Q3 2013 Analyst Conference Call October 25, 2013  6% Prices  Volumes (1%) Portfolio  1% Currencies  Period (5%) 3
  4. 4. Important corporate developments Restructuring in Pigments business  Optimization of global production network Cash offer for Verenium enzyme biotechnology  Cash offer of 4 US dollars per share, Transaction with Statoil completed  Transaction completed July 31, 2013  Reduction of 650 positions worldwide  Offer expires on October 31, 2013  Investment of €250 million in production and R&D  Increased production from 3,000 to ~40,000 boe per day in Norway  Enterprise value ~62 million US dollars  Compensation payment of 781 million US dollars*  Acquisition will strengthen BASF‘s footprint in the enzyme growth market * Euro/dollar exchange rate July 31, 2013: €1= $1.3275 BASF Q3 2013 Analyst Conference Call October 25, 2013 4
  5. 5. Chemicals Pressure on volumes and margins Q3’13 segment sales (million €) vs. Q3’12 EBIT before special items (million €) Intermediates 700 800 Monomers 1,599 (7%) 650 (11%) 600 569 495 445 €4,224 (8%) 527 Q2 Q3 400 200 Petrochemicals 1,925 0 Q3 (6%) Q4 Q1 2012 2013 Sales development  BASF Q3 2013 Analyst Conference Call October 25, 2013 (2%) Prices  Q3’13 vs. Q3’12 Volumes (3%) Portfolio 0% Currencies  Period (3%) 5
  6. 6. Performance Products Growth in volumes and earnings EBIT before special items (million €) Q3’13 segment sales (million €) vs. Q3’12 Performance Chemicals 896 Care Chemicals 1,209 (1%) Nutrition & Health 540 600 400 (3%) €3,939 (1%) 379 344 Dispersions & Pigments 929 Paper Chemicals 365 376 Q1 Q2 Q3 183 200 +10% 394 0 Q3 Q4 2012 (2%) 2013 (8%) Sales development Q3’13 vs. Q3’12 BASF Q3 2013 Analyst Conference Call October 25, 2013  6% Prices  Volumes (3%) Portfolio  1% Currencies  Period (5%) 6
  7. 7. Functional Materials & Solutions Sound overall demand, especially in automotive Q3’13 segment sales (million €) vs. Q3’12 EBIT before special items (million €) Performance Materials 1,669 600 +5% Construction Chemicals 576 (9%) €4,439 +3% 400 231 228 239 Q3 Q4 Q1 293 300 Q2 Q3 200 0 Coatings 728 Catalysts 1,466 (5%) +12% 2012 2013 Sales development Q3’13 vs. Q3’12 BASF Q3 2013 Analyst Conference Call October 25, 2013  8% Prices Portfolio  2%  Volumes (1%) Currencies  Period (6%) 7
  8. 8. Agricultural Solutions Sales growth despite pronounced currency headwinds Q3’13 segment sales (million €) vs. Q3’12 1.200 1,054 1,008 EBIT before special items (million €) 200 171 172 900 600 100 300 0 0 Q3 Q3 Q3 Q3 2012 2013 2012 2013 Sales development Volumes Prices Portfolio Q3’13 vs. Q3’12  8%  4%  3% BASF Q3 2013 Analyst Conference Call October 25, 2013 Currencies  Period (10%) 8
  9. 9. Oil & Gas Substantially higher net income Q3’13 segment sales (million €) vs. Q3’12 Exploration & Production 754 Natural Gas Trading 2,376 +29% EBIT bSI/Net income (million €) 499 500 422 400 €3,130 +25% +15% 300 396 360 451 200 318 100 103 62 0 Q3/2012 Net Income Q3/2013 Net Income Exploration & Production Natural Gas Trading Net income Sales development Volumes Q3’13 vs. Q3’12  22% BASF Q3 2013 Analyst Conference Call October 25, 2013 Prices/Currencies  Period (2%) Portfolio  5% 9
  10. 10. Review of “Other” Million € Sales EBIT before special items Thereof Corporate research Group corporate costs Currency result, hedges and other Valuation effects Other business Special items EBIT BASF Q3 2013 Analyst Conference Call October 25, 2013 Q3’13 Q3’12 947 (105) (90) (57) (74) 1,087 (343) (95) (63) (249) 59 30 (24) (44) (129) (387) 10
  11. 11. Cash Flow Excellent cash flow in Q1-Q3 2013 Million € Q1-Q3’13 Q1-Q3’12 Cash provided by operating activities 5,982 5,025 Thereof Changes in net working capital Miscellaneous items 374 (327) (639) (450) Cash provided by investing activities (4,629) (2,018) thereof Payments related to tangible / intangible assets (3,038) (2,702) (1,093) 411 Cash used in financing activities (1,300) (3,383) thereof Changes in financial liabilities Dividends 1,304 (2,604) (868) (2,510) Acquisitions / divestitures Q1-Q3 2013  Net working capital decreased  Increased capex at €3 billion  Strong free cash flow of €2.9 billion against €2.3 billion in 2012  Equity ratio of 41%; net debt increased by €1.8 billion to €13 billion BASF Q3 2013 Analyst Conference Call October 25, 2013 11
  12. 12. Outlook 2013 Outlook 2013  We do not anticipate an acceleration of global economic growth in the 4th quarter of 2013  For the full year, BASF confirms its outlook: We strive to exceed the record levels in sales and EBIT before special items in a challenging economic environment  Our focus on growth markets and innovation, in combination with our measures to optimize our portfolio and to improve operational excellence, will contribute to this  We aim to earn a high premium on cost of capital in 2013 Assumptions 2013  GDP: +2.0% (unchanged)  Industrial production: +2.7% (unchanged)  Chemical production: +3.1% (unchanged)  US$ / Euro: 1.30 (unchanged)  Oil price (US$ / bbl): 105 (unchanged) BASF Q3 2013 Analyst Conference Call October 25, 2013 12
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