Robust 3rd Quarter 2013 for BASF

Transcription

1 Third Quarter 2013 Financial highlights October 25, 2013 Robust 3rd Quarter 2013 for BASF

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. 2

3 Robust 3 rd quarter 2013 for BASF Business performance Q3 13 vs. Q3 12 Q1-Q3 13 vs. Q1-Q3 12 Sales 17.7 billion +1.5% 55.8 billion +3% 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 % 4.03 (4%) Adjusted EPS % % Operating cash flow 2.0 billion +21% 6.0 billion +19% Sales development Period Volumes Prices Portfolio Currencies Q3 13 vs. Q3 12 6% (1%) 1% (5%) 3

4 Important corporate developments Restructuring in Pigments business Optimization of global production network Reduction of 650 positions worldwide Investment of 250 million in production and R&D Cash offer for Verenium enzyme biotechnology Cash offer of 4 US dollars per share, Offer expires on October 31, 2013 Enterprise value ~62 million US dollars Acquisition will strengthen BASF s footprint in the enzyme growth market Transaction with Statoil completed Transaction completed July 31, 2013 Increased production from 3,000 to ~40,000 boe per day in Norway Compensation payment of 781 million US dollars* * Euro/dollar exchange rate July 31, 2013: 1= $

5 Chemicals Pressure on volumes and margins Q3 13 segment sales (million ) vs. Q3 12 EBIT before special items (million ) Intermediates 700 (7%) 4,224 (8%) Monomers 1,599 (11%) Petrochemicals 1,925 (6%) Q3 Q4 Q1 Q2 Q Sales development Period Volumes Prices Portfolio Currencies Q3 13 vs. Q3 12 (2%) (3%) 0% (3%) 5

6 Performance Products Growth in volumes and earnings Q3 13 segment sales (million ) vs. Q3 12 EBIT before special items (million ) Care Chemicals 1,209 (1%) Nutrition & Health 540 3,939 (1%) Performance Chemicals 896 (3%) +10% Dispersions & Pigments Paper Chemicals (2%) (8%) Q3 Q4 Q1 Q2 Q Sales development Period Volumes Prices Portfolio Currencies Q3 13 vs. Q3 12 6% (3%) 1% (5%) 6

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 +5% 4,439 +3% Construction Chemicals 576 (9%) Catalysts 1,466 Coatings Q3 Q4 Q1 Q2 Q3 +12% (5%) Sales development Period Volumes Prices Portfolio Currencies Q3 13 vs. Q3 12 8% 2% (1%) (6%) 7

8 Agricultural Solutions Sales growth despite pronounced currency headwinds Q3 13 segment sales (million ) vs. Q3 12 EBIT before special items (million ) ,008 1, Q3 Q3 0 Q3 Q Sales development Period Volumes Prices Portfolio Currencies Q3 13 vs. Q3 12 8% 4% 3% (10%) 8

9 Oil & Gas Substantially higher net income Q3 13 segment sales (million ) vs. Q3 12 EBIT bsi/net income (million ) Natural Gas Trading 2, % 3, % Exploration & Production % Q3/2012 Net Income Q3/2013 Net Income Exploration & Production Natural Gas Trading Net income Sales development Period Volumes Prices/Currencies Portfolio Q3 13 vs. Q % (2%) 5% 9

10 Review of Other Million Q3 13 Q3 12 Sales 947 1,087 EBIT before special items (105) (343) Thereof Corporate research Group corporate costs Currency result, hedges and other Valuation effects Other business (90) (57) (74) 59 (95) (63) (249) Special items (24) (44) EBIT (129) (387) 30 10

11 Cash Flow Excellent cash flow in Q1-Q 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) Acquisitions / divestitures (1,093) 411 Cash used in financing activities (1,300) (3,383) thereof Changes in financial liabilities Dividends Q1-Q 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 1,304 (2,604) (868) (2,510) 11

12 Outlook 2013 Outlook 2013 We do not anticipate an acceleration of global economic growth in the 4 th 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: Industrial production: Chemical production: +2.0% (unchanged) +2.7% (unchanged) +3.1% (unchanged) US$ / Euro: 1.30 (unchanged) Oil price (US$ / bbl): 105 (unchanged) 12

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