BASF reported steady sales of €15.7 billion in Q3 2024, matching the figures from the same period last year. The company’s EBITDA before depreciation, amortization, and exceptional charges rose to €1.6 billion, an increase of €77 million year-over-year. This growth stemmed primarily from improved results in BASF’s core segments, including Chemicals, Materials, Industrial Solutions, and Nutrition & Care, where higher volumes and better margins offset declines in standalone businesses.

CEO Dr. Markus Kamieth commented, “The positive revenue performance from our core operations was evident in the first half of 2024 and continued into the third quarter, driven by higher volumes and margins.”

Despite positive results in core segments, BASF faced some challenges in independent business areas. In the Coatings segment, for example, lower volumes in the Catalysts division impacted overall performance due to reduced demand from the automotive industry. Sales were further constrained by adverse currency effects, particularly from the Argentine peso and Brazilian real, and lower commodity prices, especially in the Coatings segment, where precious and base metal prices dipped.

The EBITDA margin before exceptional items improved to 10.3% compared to 9.8% in Q3 2023. In core segments, this margin reached 13.4%, up by 3.6 percentage points from the previous quarter. Net income also saw a significant increase to €287 million, bolstered by a one-time gain of €398 million from asset transfers to Harbour Energy plc. This was a major improvement from the previous year’s loss of €249 million, influenced then by exceptional charges at Wintershall Dea.

Operational cash flow for the quarter amounted to €2.1 billion, down by €633 million compared to Q3 2023, mainly due to higher reductions in accounts payable and decreased cash flow from inventories.

BASF also continues to implement cost-saving initiatives announced in early 2023, with plans to achieve €2.1 billion in annual savings by 2026. By September 2024, the company reported progress of approximately €800 million in cost reductions, accompanied by one-time costs of around €500 million. Further reductions are expected by year-end, with associated costs anticipated to reach €550 million.

In alignment with EU sustainability reporting requirements, BASF plans to release its unaudited financial results for the 2024 business year on February 28, 2025, followed by a full, audited report on March 21, 2025, featuring all mandatory financial and environmental data.

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