Report
Michael B. Schäfer

BASF : CMD headlines:€ 2.25/shr (5% yield) minimum div., € 4bn SBB, € 10-12bn EBITDA 28 target (BB cons 27: € 10.6bn, active portfolio mgmt non-Verbund

>2025-2028: dividend at least € 2.25/share + SBB = € 12bn - The CMD starts today at 12.30 p.m. BASF is targeting total shareholder returns of € 12bn for 2025-2028, including at least € 2.25/share (€ 8bn), a 5% yield at current trading, and around € 4bn in SBB. The dividend compares to € 3.40/share paid out in 2024 for 2023 and dividend futures trading at € 2.64, saving € 1bn in dividends in the coming years.Capex “well below D&A” from 2026 onwards - T...
Underlying
BASF SE

BASF is a chemical company based in Germany. Co. conducts its operations through five reportable segments: Chemicals, which comprises the Petrochemicals, Monomers and Intermediates divisions; Performance Products, which consists of the Dispersions & Pigments, Care Chemicals, Nutrition & Health and Performance Chemicals divisions; Functional Materials & Solutions, which comprises the Catalysts, Construction Chemicals, Coatings and Performance Materials divisions; Agricultural Solutions, which comprises the Crop Protection division; and Oil & Gas, which is composed of the Oil & Gas division.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Michael B. Schäfer

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