Report
Michael B. Schäfer

BASF : Investor update: More differentiated steering, focus on cash flow; disposal of WDea in 2024 more likely to be a legal separation visibility seems high

>Improved steering of respective segments, eyeing an EBITDA margin 17% over the cycle on ‘Verbund’ segments, in line with 2019-2022 (ODDO 2025e: 14.9%) - We attended BASF's investor update event. BASF is to introduce new key steering KPI's including ROCE, EBITDA bsi and FCF for the group and operating cash flow; for all segments. The differentiation is based on the nature of the respective business starts at segment level, including: chemicals/materials: absolute EBIT...
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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