BASF capital market story May 2018

We create chemistry
for a sustainable future

May 20182 | BASF Capital Market Story
Cautionary note regarding
forward-looking statements
This presentation contains forward-looking statements. These statements are based on current
estimates and projections of the Board of Executive Directors and currently available information.
Forward-looking statements are not guarantees of the future developments and results outlined therein.
These are dependent on a number of factors; they involve various risks and uncertainties; and they are
based on assumptions that may not prove to be accurate. Such risk factors include those discussed in
the Opportunities and Risks Report from page 111 to 118 of the BASF Report 2017. BASF does not
assume any obligation to update the forward-looking statements contained in this presentation above
and beyond the legal requirements.

Agenda
At a glance1
Strategic levers2
Segments3

BASF shares – an attractive investment
 Growth above chemical industry average
– driven by innovative and sustainable products and solutions
 Unique Verbund concept
– competitive advantage based on integrated sites, operational excellence and best-in-class technologies
 Broad and resilient portfolio
– with global market access and strong customer relationships
 Earnings growth and strong cash flow generation
– based on operational and financial strength
 Long-term value creation with progressive dividend policy
– grow or at least maintain dividend at the previous year’s level

Chemicals – a growth industry
Global annual growth rate of ~3.4%*
…more food needed
by 2050
…more primary energy
consumption by 2050
…of the world population
will live in cities by 2050
Agriculture Health &
Nutrition
Energy &
Resources
TransportationConstruction &
Housing
Consumer
Goods
…people by 2050
Electrical &
Electronics
Chemistry as enabler to meet current and future needs
70% 50%~10 bn 30%
* Forecast average annual real change 2018–2020; BASF Report 2017, p. 121

Broad and resilient portfolio
2017: Sales of €64.5 billion; EBITDA of €12.7 billion
* Not depicted here: ‘Other’ 4% of BASF Group sales and EBITDA of €(679) million
Percentage of sales 2017*
 Dispersions & Pigments
 Care Chemicals
 Nutrition & Health
 Performance Chemicals
Functional Materials
& Solutions
 Catalysts
 Construction Chemicals
 Coatings
 Performance Materials
EBITDA €5.4 billion
 Petrochemicals
 Monomers
 Intermediates
25%
Performance
Products
25%
Oil & Gas
 Exploration & Production;
Natural Gas Transport
5%
Agricultural Solutions
 Crop Protection
9%
Chemicals
EBITDA €1.3 billionEBITDA €2.4 billion EBITDA €2.1 billionEBITDA €2.3 billion

Global market access through regional presence
Kuantan
Hong Kong
Nanjing
Freeport
Florham Park
Geismar
Ludwigshafen
Antwerp
São Paulo
Regional centers
Selected sites
Verbund sites
Selected research
and development sites
Asia Pacific
South America,
Africa, Middle East
North America
Sales €15,357 million
EBIT €1,236 million
Employees 18,295
Employees 18,256
EBIT €335 million
Employees 7,286
2017: Sales by location of customer; EBIT by location of company
Europe
Employees 71,653

Verbund – unique competitive advantage
Actively managed in line with market requirements
 Annual cost savings of more than €1 billion through integrated production
 Verbund concept supports sustainability, reduces waste and avoids CO2 emissions of 6 million tons p.a.
Energy savings
>€300 million p.a.
Logistics savings
Infrastructure savings
People, Customers, Technology, Production

BASF Group with slight earnings increase in Q1 2018

Financial figures Q1 2018 Q1 2017 Change
€ € %
Sales 16,646 million 16,857 million (1)
EBITDA before special items 3,439 million 3,507 million (2)
EBITDA 3,448 million 3,502 million (2)
EBIT before special items 2,512 million ^^
2,457 million 2
EBIT 2,521 million 2,451 million 3
Net income 1,679 million 1,709 million (2)
Reported EPS 1.83 1.86 (2)
Adjusted EPS 1.93 1.97 (2)
Operating cash flow 1,231 million 833 million 48
Sales development Volumes Prices Portfolio Currencies
Q1 2018 vs. Q1 2017 2% 5% 0% (8%)

3.7
4.7 4.6
7.0 7.2
8.4
8.9
7.7
6.5
9.9
11.2
10.0 10.4
11.0 10.6 10.5
12.7
3.4
0
2
4
6
8
10
12
14
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1 2018
0.7
2.2 2.2
4.5 4.8
5.5
6.0
4.6
2.8
6.7
8.0
6.7 7.2
7.6
6.2 6.3
8.5
2.5
Stepwise increase of earnings level
EBIT EBITDA Avg. EBITDA level in depicted years
EBIT and EBITDA*
billion €, 2001–2017 CAGR
EBITDA
8%
CAGR
EBIT
17%
12.7
* 2010, 2011 indicative, adjusted for IFRS 10/11; 2001–2009 as reported, without non-compensable foreign income taxes on oil production

2.3 2.3
4.9 4.6
5.3
5.9 5.8
5.0
5.7
6.5
7.1
6.6
8.1
7.0
9.4
7.7
8.8
0
2
4
6
8
10
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
-0.5 -0.1
2.8 2.6
3.3 3.5
3.2
2.5
3.2
3.9 3.7
2.6
3.2
1.7
3.6 3.6
4.8
Free cash flowOperating cash flow
Strong cash flow development
Operating cash flow and free cash flow
billion €, 2001–2017

Attractive dividend
* Dividend yield based on share price at year-end
0.65 0.70 0.70
0.85
1.00
1.50
1.95 1.95
1.70
2.20
2.50
2.60
2.70
2.80
2.90
0
1
2
3
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Yield* 3.1% 3.9% 3.1% 3.2% 3.1% 4.1% 3.8% 7.0% 3.9% 3.7% 4.6% 3.7% 3.5% 4.0% 4.1% 3.4% 3.4%
3.00
Dividend per share
€
Dividend policy
 We want to grow or at least maintain
our dividend at previous year’s level
Key facts
 Dividend of €3.10 per share,
an increase of 10 cents
 Dividend yield of 3.4% in 2017
3.10

Average annual performance
with dividends reinvested
0 2 4 6 8 10 12 14
+6.1%
+6.4%
+2.3%
+10.8%
Last 10 years
May 2008 – April 2018
0 2 4 6 8 10 12 14
Last 3 years
May 2015 – April 2018
+2.3%
+2.0%
+3.3%
+6.6%
Delivering consistent, long-term value
Current market capitalization: €79 billion*
* As of April 30, 2018
Euro Stoxx 50
DAX 30
MSCI World
Chemicals
BASF

 Sales growth – slightly faster than global chemical production
 Deliver attractive returns – earn a significant premium on cost of capital
 EBITDA growth – well above global chemical production
 Remain a strong cash provider – continuously generate high levels of free cash flow
 Progressive dividend policy – grow or at least maintain dividend at the previous year’s level
Financial targets for the coming years

 Innovations for a sustainable future
 Investments in organic growth
 M&A opportunities and portfolio pruning measures
 Operational excellence and cost discipline
We aim to grow sales and earnings faster than global chemical production
in the coming years, driven by
Our priorities

 We anticipate slightly* higher sales in 2018.
 EBIT before special items is expected to be up slightly on the 2017 level.
 EBIT is forecast to decline slightly in 2018.
 We aim to once again earn a significant premium on our cost of capital in 2018.
However, EBIT after cost of capital will decrease considerably, mainly due to lower
EBIT as well as the additional cost of capital from the planned acquisitions.
Outlook 2018 for BASF Group confirmed
* For sales, “slight” represents a change of 1–5%, while “considerable” applies to changes of 6% and higher. For earnings, “slight” means a change of 1–10%, while “considerable” is used for
changes of 11% and higher. This outlook takes into account the agreed transactions with Bayer and Solvay. The intended merger of our oil and gas activities with the business of DEA Deutsche
Erdoel AG and its subsidiaries is not taken into account in this outlook.

Agenda
At a glance1
Strategic levers2
Segments3
► Portfolio development
► Investments
► Innovation
► Sustainability
► Operational excellence

Continuous global portfolio development
to maintain a balanced portfolio
target
(in % of sales*)~50% ~50%
Divestment of
businesses,
e.g., due to loss
of differentiation
Divestment of
businesses,
e.g., due to lower
market attractiveness
Commoditization leads to
restructuring
Growth fields
Innovation
pipeline
Acquisitions
Specialties and solutions Differentiated commodities
 Attractive markets
 Differentiation by process
technologies and integration
 Attractive markets
 Differentiation by customer
proximity and innovations
* Excluding Oil & Gas sales

Portfolio development towards more market-driven and
innovative businesses
Strong Partnerships
 Gazprom
 PETRONAS
 Sinopec
 Total
Selected transactions
2010−today
BASF
core business
~€5.5 billion sales
in emerging and
innovation-driven businesses
Acquisitions
 Functional crop care
 Personal care & food
 Omega-3 fatty acids
 Enzymes
 Battery materials
 Specialty plastics
 Selected assets in Oil & Gas
 Refinish coatings
 Surface treatment
Divestitures
~€21.1 billion sales
in businesses with limited fit
and differentiation potential
 Styrenics
 Fertilizers
 Selected assets in Oil & Gas
 Natural gas trading & storage
 Custom synthesis business
 Textile chemicals
 Polyolefin catalysts
 Industrial coatings
 Leather chemicals

Clear acquisition criteria
We want to acquire businesses which …
 provide a return on investment above
the WACC
 are EPS accretive by year three
at the latest
We want to acquire businesses which …
 generate profitable growth above the industry
average
 are innovation-driven
 offer a special value proposition to customers
 reduce earnings cyclicality
Acquisition
criteria
Strategic acquisition criteria Financial acquisition criteria

 Purchase price: ~€7.6 billion
 Sales 2016: ~€2.0 billion
 EBITDA 2016*: ~€550 million
 Subject to the closing of the acquisition
of Monsanto by Bayer and regulatory
approvals, closing expected in Q2/Q3
2018
Update on recently announced M&A activities
* On a pro-forma adjusted basis
BASF and LetterOne intend to merge
their oil and gas subsidiaries
BASF to acquire Solvayʼs integrated
global polyamide business
 Purchase price: ~€1.6 billion
 EBITDA 2016: ~€200 million
 Market CAGR: >3.5%
 BASF and Solvay aim for a closing
in Q3 2018
 Pro-forma sales 2017: ~€4.7 billion
 Pro-forma EBITDA 2017: ~€2.8 billion
 BASF and LetterOne are conducting
a confirmatory due diligence and are
negotiating transaction agreements
 Closing could be expected in H2 2018
BASF to acquire agricultural solutions
businesses and assets from Bayer

BASF to acquire agricultural solutions businesses and
assets from Bayer
All-cash purchase
price
€7.6 billion (subject to certain adjustments at
closing, asset and share deal)
Sales 2017
Sales 2016
~€2.2 billion
~€2.0 billion
Sales by region
~60% North America
~15% South America
~15% Europe, Middle East, Africa
~10% Asia Pacific
EBITDA 2016* ~€550 million
R&D expenses 2016 ~€350 million
Sites
 5 chemical production and formulation sites
 17 R&D sites
 Regional seed production and breeding facilities
 BASF to become an even better partner for farmers
by strengthening its crop protection portfolio and
entering the seeds business in key agricultural markets
 Cash EPS accretive in the first full fiscal year,
EPS accretive by 2020
 Financing through a combination of cash on hand,
commercial papers and bonds
 Subject to approval of the relevant merger control
authorities
 Following the closing of the acquisition of Monsanto
by Bayer expected in Q2 2018, BASF also expects
to close most of the acquisition in Q2 2018, with
the vegetable seeds business closing in Q3 2018
Combined figures of transactions with BayerFacts about transactions with Bayer

Agreement signed in October 2017
Strong seeds for key row crops, non-selective herbicides
and an excellent R&D platform
Sales 2017
Sales 2016
~€1.5 billion
~€1.3 billion
Sales by region
~70% North America
~15% South America
~10% Asia Pacific
EBITDA 2016 ~€385 million
R&D pipeline and IP >250 patent families
Employees >1,800
Sites
 5 chemical production and formulation sites
 10 R&D sites
 Fully enabled seed and trait businesses
– Attractive seeds portfolio for canola/oilseed rape, soybean
and cotton in the Americas and Europe
– Excellent trait research platform for canola, soybean
and cotton
– LibertyLink® technology and related trademarks for
herbicide tolerance
 Complementary crop protection business
– Global glufosinate-ammonium-based
non-selective herbicide business
– State-of-the-art production facilities
in the U.S., Canada and Germany
 Experienced team of dedicated professionals
FiguresScope

Agreement signed in April 2018
Extended scope of agricultural solutions businesses and assets
with high profitability and strong growth prospects
 Global vegetable seeds business
 Well-established seed treatment business
 R&D platform for hybrid wheat
 State-of-the-art digital farming platform
 Other businesses and assets:
– Oilseed rape business in Australia
– Certain glyphosate-based herbicides in Europe,
used predominantly for industrial applications
– Canola-quality juncea research projects
– Certain non-selective herbicides research projects
– Nematicide research projects
 Experienced team of dedicated professionals
FiguresScope
Sales 2017
Sales 2016
~€745 million
~€710 million
Sales by region
~40% North America
~10% South America
~10% Asia Pacific
EBITDA 2016* ~€165 million
R&D pipeline and IP >250 patent families
Employees >2,500
Sites
 7 R&D sites

* No later than 36 months after closing, this bond will be converted into new shares in Wintershall DEA, resulting in a higher shareholding ratio for BASF
BASF and LetterOne signed letter of intent to merge their oil and gas
subsidiaries Wintershall and DEA
 Combined business with pro-forma 2017 sales of €4.7 billion, EBITDA of €2.8 billion
and net income of €740 million
 Creation of one of the largest independent European exploration and production
companies with significant growth potential, optimization of the portfolio footprint
of the combined business and realization of synergies
 BASF to initially hold 67% and LetterOne 33% in Wintershall DEA; value of
Wintershall’s gas transportation business to be reflected through the issuance
of a mandatory convertible bond to BASF*
 BASF and LetterOne are currently conducting a confirmatory due diligence and
are negotiating definitive transaction agreements; closing could be expected in
the second half of 2018, subject to customary regulatory approvals
 Initial Public Offering (IPO) envisaged in the medium term

BASF and Solenis to join forces by combining paper and
water chemicals businesses
Solenis – a global producer of specialty
chemicals for water intensive industries
 Employees: ~3,700 employees
 Manufacturing facilities in 35 countries worldwide
 Subject to the approval by the relevant authorities,
funds managed by Clayton, Dubilier & Rice
will hold a 51% share of the combined entity
Key capabilities
 Technology expertise
 World-scale manufacturing
 Markets and products: packaging, dry strength, paper
coloration, municipal waste water treatment, water
treatment chemicals
Creating a
customer-focused
global solutions
provider for the paper
and water treatment
industries
BASF’s paper wet-end and water chemicals
business
 Employees: ~1,300
 Production sites and plants* in the UK, the U.S.,
Mexico, India and Australia
 Subject to the approval by the relevant authorities,
BASF will hold a 49% share of the combined entity
Key capabilities
 Customer intimacy
 Services: application domain experts, digital
solutions
 Markets and products: packaging, tissue, biocides,
wet and dry strength, industrial water treatment
* BASF’s paper wet-end and water chemicals production plants strongly embedded in the Verbund in Ludwigshafen, Germany, and Nanjing, China, are not transferred, and will
deliver products and raw materials to the combined entity under mid- to long-term supply agreements. BASF’s paper coating chemicals portfolio is not part of the transaction.

Performance Products – differentiated business strategies
will drive profitable growth
Growth businesses Core businesses
Mid-term growth
EBITDA margin
2017
Area of bubbles = Sales of strategic businesses unit in 2017
Opportunistic businesses
Mid-term GDP
growth rate
HigherLower
Lower Higher
Ø
EBITDA
margin
Growth businesses
 Expand position through R&D activities, capex
and M&A
Core businesses
 Focus on operational excellence, process
innovation, growth in emerging markets,
new business models
Opportunistic businesses
 Changing market environment requires review
of strategic options
Strategic priorities for Performance Products
 Organic growth
 Commercial and operational excellence
 Portfolio management

Agricultural
Solutions
4%
Investments in organic growth
Investments of ~€4.0 billion planned for 2018
Performance
Products
16%
Oil & Gas*
18%
€19.0 billion
Capex budget 2018–2022
by segment
Other
18%
Chemicals
25%
Capex budget 2018–2022
by region
Asia Pacific
14%
North America
19%
Other**
5%
& Solutions
19%
€19.0 billion
South America***
8%
Europe
54%
* If the merger of BASF’s oil and gas activities with DEA is consummated as intended, these capital expenditures will no longer be reported as investments by the BASF Group.
** Alternative sites currently being investigated; *** Including Africa and Middle East

Selected investment projects
Replacement of BASF’s
acetylene plant in
Ludwigshafen
 ~20 production facilities
on the site use acetylene
as a raw material
 90,000 tons per year
 World’s most efficient
production process
 Startup end of 2019
New ibuprofen plant in
Ludwigshafen; capacity
expansion in the U.S.
 First world-scale ibuprofen
plant in Europe
 Additional capacity
expansion of ibuprofen
plant in Bishop, Texas
 Investments: ~€200
million for both projects
 Startup in 2021
Expansion of BASF’s
mobile emissions
catalysts site in Poland
 BASF’s largest emissions
catalysts production site in
Europe
 New production lines and
additional infrastructure
 Best-in-class technology
to meet tightening NOx
and particulate emissions
standards for diesel or
gasoline engines
New plastic additives plant
in Shanghai, China
 Production of antioxidants,
related forms and blends
 42,000 tons per year
 Commercial production to
start by 2020

Oil & Gas
2%
Innovation will drive future growth
Agricultural
Solutions
27%
Chemicals
7%
Performance Products
21%
Corporate Research
20%
Key facts
 €1.9 billion R&D expenditures in 2017
 R&D expense to sales ratio ~3%
 ~10,000 employees in R&D
 ~3,000 projects
 ~800 new patents in 2017
 Research Verbund:
Cooperations with more than 600 excellent
partners from universities, startups and industry
 In 2017, sales of >€9 billion from innovations
launched on the market in the past five years
R&D expenditures 2017
€1.9 billion
& Solutions
23%

Selected key technology capabilities reflect where BASF requires continued effort and resources
to safeguard today’s and tomorrow’s excellence in innovation.
Polymer
technologies
Biotechnology
Production
processes
Materials
Catalysis
Biodegradable
& bio-based
materials
Enabling
methods
Corporate Research: BASF’s key technology capabilities
are bundled in seven focus areas
BASF’s
key technology
capabilities

BASF – capturing the fast-growing battery materials market
Market projections for 2025:
8-15 million electric vehicles* built per year
600-900 kt of CAM in e-mobility
€18-24 billion CAM market size
 Unparalleled access and commitment to the automotive industry  Strategic global supply, technology and production
partnerships
 Rapid expansion to global, cost-competitive asset
footprint
 Well-established position in key CAM technologies (NCA & NCM)**
 Industry leading position in NCA capacity
E-mobility drives battery
materials growth
Chemistry of cathode active
materials (CAM) is key to
address e-mobility challenges
**NCA: nickel cobalt aluminum oxide; NCM: nickel cobalt manganese
BASF enables electromobility
*Electric vehicles: BEV, HEV and PHEV
20252017
~15-20% p.a.
Li-ion
battery
market

Key supplier in battery materials, well-positioned for further growth
Shanghai, China
R&D, Application Technology Center
Onoda/Kitakyushu, Japan
BASF TODA Battery Materials
Beachwood, Ohio
R&D, Application
Technology Center
Elyria, Ohio
BASF TODA America
Europe, planned production
Amagasaki, Japan
R&D, Application Technology Center
Battle Creek, Michigan
BASF TODA America
Shanghai, China
BASF Battery Materials Headquarters
Production site
Technology center
Ludwigshafen, Germany
R&D, Application
Technology Center
Innovation in battery materials
 Leading technology portfolio and core patents
 ~€250 million total R&D spent so far
 ~150 scientists at four R&D centers across all regions
 Highest energy density CAM commercialized for EV application
Market presence
 Triple-digit-million euro battery material sales
 Supplier to world’s largest cell producers
 Already supplying leading OEMs’ platforms
 Under qualification for future key platforms

Sustainable Solution Steering®
Goal: Increase the share of Accelerators from 23% in 2014 to 28% by 2020
4.3% 0.1%
 >60,000 product applications analyzed
 27.3% Accelerators
– strong growth in their markets
– deliver margins above the average
– represent majority of BASF’s R&D
pipeline
 68.3% Performers
 <1% Challenged products
27.3%
68.3%
Substantial sustainability
contribution in the value chain
Meets basic sustainability
standards on the market
Specific sustainability issues
which are being actively addressed
Significant sustainability concern
identified and action plan developed
Sustainable
Solution
Steering
Percentage of sales 2017

BASF products and solutions in everyday life
Innovations for a sustainable future
Luquafleece®
Tinosorb®
Infinergy®
Nutrilan®
Sokalan®
Cellasto®
Coatings
Tinuvin®
Superabsorbents
Ultramid®
Trilon® M
ecoflex® /
ecovio®
Omega-3

Resource efficiency
Responsible use of carbon sources
* BASF carbon mass balance calculation (2017, non-audited)
** Based on the chemical industry standard of the International Council of Chemical Associations (ICCA) and the World Business Council for Sustainable Development (WBCSD)
 We are committed to resource efficiency and climate protection
 BASF uses carbon raw materials responsibly: 82% of carbon converted to
products, 17% consumed for process energy and converted to CO2, 1% waste*
 Comparisons with European emissions trading benchmarks
show that our chemical plants operate at above-average
energy efficiency
 23 million tons of CO2 emissions by BASF worldwide in 2017 compared to
10–30 million tons p.a. for one coal-fired power plant
 Customers’ use of BASF’s climate protection products sold in 2017 avoided
570 million tons of CO2 equivalents (thereof 6% attributable to BASF)**
 In 2017, BASF achieved CDP leadership status once again

0
0,.001
2016 2017 2018 Total
DrivE program
 Optimization of processes and structures in
all regions, including
– manufacturing
– incremental capacities
– productivity increase
 Project timeline: 2016–2018
€350
million
€650
million
Goal
€1 billion
Annual earnings contribution DrivE
million €
1,000
Operational excellence
DrivE with ~€1 billion targeted earnings contribution from end of 2018 onwards
500
€500
million
€150
million

Strong track record in operational excellence
* Excl. companies with major IFRS 10/11 restatements, i.e. BASF YPC Nanjing, Libya onshore,other Oil & Gas and Catalysts companies
50
100
150
200
250
300
350
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
EBITDA
Sales
Fixed Costs
CAGR
EBITDA
8%
CAGR
Sales
5%
BASF Group* 2001–2017
indexed; CAGR 2001–2017
3%
CAGR
Fixed
Costs

Digitalization will support BASF’s growth and efficiency
Digital
Business
Models
Smart
Innovation
Smart
Manu-
facturing
Smart
Supply
Chain
Growth  Digital business models
 Customer connectivity
 Digitalization in R&D
 New revenue streams
 Increased supply share
 Higher innovation output
 Predictive maintenance
 Augmented reality in production
 Smart supply chain
 Increased capacity
 Increased work efficiency
 Reduced working capital
Efficiency

Agenda
At a glance1
Strategic levers2
Segments3
► Chemicals
► Performance Products
► Functional Materials & Solutions
► Agricultural Solutions
► Oil & Gas


Chemicals
Increased earnings driven by higher margins and volumes
Sales Q1 2018 vs. Q1 2017
million €
EBIT before special items
million €
Intermediates
784
+4%
Monomers
1,723
+1%
Petrochemicals
1,779
+8%
€4,286
+4%

Q1 2018 vs. Q1 2017 3% 8% 0% (7%)
958
1,120 1,102
1,053 1,134
0
400
800
1,200
Q1 Q2 Q3 Q4 Q1
2017 2018

Performance Products
Higher prices could not compensate for negative currency effects and
outage-related lower volumes; earnings declined slightly
Performance Chemicals
938
-7%
Nutrition & Health
424
-13%
Care Chemicals
1,305
-4%
Dispersions & Pigments
1,324
-5%
€3,991
-6%
million €
Q1 2018 vs. Q1 2017 (1%) 2% (1%) (6%)
Sales Q1 2018 vs. Q1 2017
million €

515
405 385
111
470
0
200
400
600
Q1 Q2 Q3 Q4 Q1
2017 2018
 

Functional Materials & Solutions
Earnings declined considerably due to lower margins and higher fixed costs
Coatings
940
-6%
Catalysts
1,736
+3%
Construction
Chemicals
544
-3%
Performance Materials
1,919
-2%
€5,139
-1%
million €
Q1 2018 vs. Q1 2017 1% 6% 0% (8%)
Sales Q1 2018 vs. Q1 2017
million €
531
422 397
267
333
0
200
400
600
Q1 Q2 Q3 Q4 Q1
2017 2018
 

Agricultural Solutions
Earnings negatively impacted by currency headwinds, higher fixed costs and a late start to the season
million €
Q1 2018 vs. Q1 2017 3% (2%) 0% (8%)
Sales Q1 2018 vs. Q1 2017
million €
1,855
1,728
0
1,000
2,000
Q1 2017 Q1 2018
533
423
0
200
400
600
Q1 2017 Q1 2018
-7%
-21%
  

Oil & Gas
Earnings increased considerably, mainly due to higher prices and volumes as well as lower depreciation
EBIT before special items / net income
million €
Sales Q1 2018 vs. Q1 2017
million €
170
140
365
165
0
100
200
300
400
829
945
0
500
1,000
Q1 2017 Q1 2018
Sales development Volumes Prices/Currencies Portfolio
Q1 2018 vs. Q1 2017 11% 3% 0% 
+14%
Q1
2017
Q1
2018
Q1
2017
Q1
2018
EBIT before special items Net income

Review of “Other”
Financial figures Q1 2018 Q1 2017
million € million €
Sales 557 610
EBIT before special items (213) (250)
Thereof Costs of corporate research (80) (81)
Costs of corporate headquarters (53) (52)
Foreign currency results, hedging and other measurement effects 41 (31)
Other businesses (8) 5
Special items (8) 7
EBIT (221) (243)

Cash flow development Q1 2018
Cash flow development Q1 2018 Q1 2017
million € million €
Cash provided by operating activities 1,231 833
Thereof Changes in net working capital (1,345) (1,985)
Miscellaneous items (30) 58
Cash used in investing activities (634) (1,215)
Thereof Payments made for tangible / intangible assets (627) (767)
Acquisitions / divestitures 34 (22)
Cash provided by financing activities 201 831
Thereof Changes in financial liabilities 220 811
Dividends (19) 6
Free cash flow 604 66

Balance sheet remains strong
Balance sheet March 31, 2018 vs. December 31, 2017
billion €
 Total assets increased by €1.7 billion,
mainly due to higher accounts
receivable as well as cash and cash
equivalents
 Net debt decreased by €1.0 billion to
€10.5 billion
 Equity ratio at 45.2% as of March 31,
2018
Liquid funds
Accounts
receivable
Long-term
assets
Inventories
Other assets
Other
liabilities
Financial
debt
Equity
26.3 26.0
17.8 18.0
36.4 34.8
Mar 31, 2018 Dec 31, 2017
7.3 6.5
4.0 3.2
12.1
11.2
10.4
10.3
46.7
47.6
Mar 31, 2018 Dec 31, 2017
80.5
78.8 80.5 78.8

BASF capital market story May 2018

BASF capital market story May 2018

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