BASF SE

BASF SE Earnings Recaps

BAS.DE Materials 2 recaps
Q3 2025 Oct 29, 2025

BASF's Q3 2025 results showed resilience with earnings slightly above expectations amid challenging market dynamics, primarily driven by higher volumes in key segments despite ongoing pricing pressures.

Key takeaways
  • EBITDA before special items reached over EUR 1.5 billion, slightly below the prior year quarter.
  • Volume growth was noted in Surface Technologies, Chemicals, and Materials segments, with a notable 12% increase in China.
  • The Surface Technologies and Agricultural Solutions segments delivered significant earnings growth due to improved margins and operational efficiencies.
  • Price declines were observed in 4 out of 6 segments, particularly impacting the core businesses; however, Nutrition & Care saw improved earnings in the Nutrition & Health division.
  • BASF expects a slight increase in full year earnings and aims for cumulative cash flow of approximately EUR 4 billion from the Environmental Catalyst and Metal Solutions division by 2030.
Full recap
Q2 2025 Jul 30, 2025

BASF SE reported a second quarter EBITDA of €1.8 billion, reflecting a 10% decrease year-over-year, driven by challenging market conditions in the chemicals sector, despite growth in Agricultural Solutions and Surface Technologies.

Key takeaways
  • Agricultural Solutions segment achieved a strong 21% growth in earnings, reaching €417 million.
  • EBITDA margins in Surface Technologies rose 10% to €350 million, with all divisions contributing positively.
  • Price declines observed in four out of six segments, notably in Chemicals, impacting overall revenue stability.
  • Start-up costs associated with the new Verbund site in Zhanjiang are expected to total €400 million for the year, affecting profitability.
  • BASF is on track to complete the sale of its Decorative Paints business for USD 1.15 billion by year-end, signaling progress in strategic portfolio management.
Full recap