Basf Se · XETR:BAS
Basf — Q3 2026 Earnings Presentation
21 slides from Basf's earnings presentation, Oct 28, 2026
Slide 1: BASF Conference Call: Q3 2026
BASF Conference Call: Q3 2026 October 28, 2026
Slide 2: Cautionary note regarding forward-looking statements
Cautionary note regarding forward-looking statements This presentation contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward-looking statements are not guarantees of the fu
Slide 3: Q3 2026: Strong price increases and solid volume growth in the core businesses
Q3 2026: BASF achieved strong price increases and solid volume growth in the core businesses Quarterly sales development of core businesses 2026 % vs. prior-year quarter Q1 Q2 Q3 Q1 Q2 Q3 Q1 Q2 Q3 Q3 2026 vs. Q3 2025: 13% ▪ Prices increased in all core 11% segments, especially in Chemicals 10% and M
Slide 4: Q3 2026: Core businesses with sales growth across all regions
Q3 2026: BASF’s core businesses with sales growth across all regions Volume and price development in core businesses by region1 Q3 2026 vs. Q3 2025 North America Greater China Volumes Prices Volumes Prices Europe ▲ 5.9% ▲ 9.5% Volumes Prices ▲ 20.7% ▲ 10.3% ▼ -0.6% ▲ 17.7% South America, Asia Pacifi
Slide 5: Q3 2026: Strength across all core businesses drove EBITDA growth
Q3 2026: Strength across all core businesses drove BASF Group’s considerable EBITDA before special items growth BASF Industrial Nutrition Surface Agricultural BASF Group Chemicals Materials Solutions & Care Technologies Solutions Other Group 102 143 143 -128 EBITDA before special items -128 1,643 14
Slide 6: Agricultural Solutions earnings in Q3 2026 mainly reflect lower volumes
Agricultural Solutions earnings in Q3 2026 mainly reflect lower volumes Sales by indication EBITDA before special items % Million € Seed Treatment 8% Insecticides 80 17% Fungicides €1.4 billion 33% ▪ Lower volumes in Q3 2026 mainly resulted from Seeds & Traits 19% − Sales brought forward to -48 23%
Slide 7: BASF drives portfolio measures, leading to considerable cash inflows
BASF drives portfolio measures, leading to considerable cash inflows Harbour Energy Coatings Further portfolio Agricultural Solutions management ▪ Sale of Harbour Energy ▪ Decorative paints ▪ Sale of Stahl Group’s ▪ On track to achieve shares led to cash business divested in 2025; specialty coatings
Slide 8: BASF Group: Key financial figures
BASF Group: Key financial figures Q1-Q3 2026 vs. Q1-Q3 2025 EBITDA before special items Net income €6,448m €5,227m +€927m +€4,168m Cash fixed costs Free cash flow €11,786m -€1,040m -€297m -€173m 8 October 28, 2026 | BASF Conference Call: Q3 2026
Slide 9: Strong momentum in streamlining our global organization
Strong momentum in streamlining our global organization BASF Group personnel reduction1 2024 2025 Q1-Q3 2026 ~1,000 ~2,400 ~5,200 Since January 1, 2024, BASF Group has reduced the number of employees1 by ~8,600 1 Reduction of number of employees excluding reduction due to divestitures and excluding
Slide 10: Cash flows from operating activities reflect higher net working capital
Cash flows from operating activities reflect €1.5 billion higher net working capital; free cash flow supported by lower capex Cash flow Million € Q1-Q3 2026 Q1-Q3 2025 Change development Cash flows from operating activities 823 1,974 -1,152 of which changes in net working capital -4,112 -2,603 -1,51
Slide 11: Continued deleveraging, committed to shareholder distributions
Continued deleveraging, committed to shareholder distributions Million € Sept. 30, 2026 Sept. 30, 2025 Change ▪ We continue to strengthen our balance sheet by considerably Total assets 79,944 76,441 +4.6% reducing leverage and maintaining Equity ratio 47.2% 44.4% +2.8ppt financial discipline Net deb
Slide 12: Outlook 2026 for BASF Group
Outlook 2026 Forecast 2026 Previous forecast for BASF Group as published in October 2026 EBITDA before special items 7.4 – 7.8 6.9 – 7.7 (billion €) Free cash flow 1.5 – 2.3 (unchanged) 1.5 – 2.3 (billion €) CO2 emissions1 17.2 – 18.2 (unchanged) 17.2 – 18.2 (million metric tons) 1 Scope 1 and Scope
Slide 13: We create chemistry
O- BASF We create chemistry
Slide 14: BASF Group financial figures Q3 2026 vs. Q3 2025 and Q1-Q3
BASF Group Q3 2026 vs. Q3 2025 and Q1-Q3 2026 vs. Q1-Q3 2025 Financial figures Q3 2026 Change Q1-Q3 2026 Change Million € % Million € % Sales 16,360 14.2 49,586 8.7 EBITDA before special items 1,643 14.9 6,448 16.8 EBITDA 1,206 -0.1 5,358 16.5 EBIT before special items 681 27.8 3,595 27.9 EBIT -98 .
Slide 15: Chemicals
Chemicals EBITDA before special items (million €) Segment cash flow (million €) 409 318 377 262 233 -38 -356 -493 -577 46 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 34.4% ▲ 9.7% ▲ 2
Slide 16: Materials
Materials EBITDA before special items (million €) Segment cash flow (million €) 792 417 338 365 511 551 408 289 26 4 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 18.5% ▲ 1.6% ▲ 15.1%
Slide 17: Industrial Solutions
Industrial Solutions EBITDA before special items (million €) Segment cash flow (million €) 434 434 353 343 361 276 291 242 102 -56 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 11.8% ▲
Slide 18: Nutrition & Care
Nutrition & Care EBITDA before special items (million €) Segment cash flow (million €) 97 237 2 192 204 -34 -21 134 -60 89 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 7.2% ▲ 8.4% ▲ 2
Slide 19: Surface Technologies
Surface Technologies EBITDA before special items1 (million €) Segment cash flow1 (million €) 274 292 284 328 275 148 201 130 115 -28 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▲ 9.9%
Slide 20: Agricultural Solutions
Agricultural Solutions EBITDA before special items (million €) Segment cash flow (million €) 1,206 1,102 881 465 294 448 381 80 -1,160 -48 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Sales development Total Volumes Prices Currencies Portfolio Q3 2026 vs. Q3 2025 ▼
Slide 21: Review of "Other"
Review of “Other” Financial figures Q3 2026 Change Q1-Q3 2026 Change Million € % Million € % Sales 1,156 39.7 2,954 20.8 EBITDA before special items -140 -92.5 -379 17.7 of which Costs of corporate research -43 13.9 -132 9.6 Costs of corporate headquarters -54 5.3 -178 -0.5 Other businesses 107 8.9