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BASF SE, DE000BASF111

BASF SE, DE000BASF111

09.07.2021 - 16:16:00

BASF SE: BASF Group releases preliminary figures for the second quarter of 2021 and increases forecast for full year 2021

BASF Group releases preliminary figures for the second quarter of 2021 and increases forecast for full year 2021Q2 2021:

- Sales expected to be ?19,753 million(Q2 2020: ?12,680 million)

- EBIT before special items expected to be ?2,355 million(Q2 2020: ?226 million)

- EBIT expected to be ?2,316 million(Q2 2020: ?59 million)

Outlook 2021:

- Sales expected between ?74 billion and ?77 billion(previous outlook 2021: ?68 billion to ?71 billion)

- EBIT before special items expected between ?7.0 billion and ?7.5 billion(previous outlook 2021: ?5.0 billion to ?5.8 billion)

Ludwigshafen - July 9, 2021 - BASF Group has released preliminary figures for the second quarter of 2021. Sales increased by 55.8 percent in the second quarter of 2021 to ?19,753 million (Q2 2020: ?12,680 million). This was driven by higher prices (+35 percent) and volumes (+28 percent); negative currency effects (-7 percent) had an offsetting effect. The average analyst estimates for BASF Group's sales in the second quarter of 2021 amount to ?17,157 million.

In the second quarter of 2021, the operating business of BASF Group has been able to maintain the strong momentum since the fourth quarter of 2020. EBIT before special items is expected to amount to ?2,355 million, a considerable increase compared with the prior-year quarter, which was weak due to the pandemic (Q2 2020: ?226 million). At ?1,965 million, the average analyst estimates for EBIT before special items of BASF Group in the second quarter of 2021 are considerably below this figure.

The Chemicals, Materials and Industrial Solutions segments considerably exceeded average analyst estimates for EBIT before special items in the second quarter of 2021. EBIT before special items was slightly below analyst consensus in the Surface Technologies segment and significantly below average analyst estimates in the Agricultural Solutions and Nutrition & Care segments. In Other, EBIT before special items was on the level of average analyst estimates.

BASF Group's EBIT is expected to be ?2,316 million in the second quarter of 2021, considerably above the figure for the prior-year quarter, which was weak due to the pandemic (Q2 2020: ?59 million). EBIT in the second quarter of 2021 includes a preliminary disposal gain of a mid-double-digit million-euro amount from the sale of the pigments business. The analyst consensus for EBIT in the second quarter of 2021 is ?1,929 million.

Outlook 2021 for the BASF Group Based on the strong business development in the first half of 2021 (Sales H1 2021: ?39,153 million; EBIT before special items H1 2021: ?4,676 million), BASF is increasing its outlook 2021 for sales and EBIT before special items. For the full year 2021, BASF Group now expects sales of ?74 billion to ?77 billion (previous outlook 2021: ?68 billion to ?71 billion; analyst consensus 2021: ?68,654 million; full year 2020: ?59,149 million). EBIT before special items is now anticipated to reach between ?7.0 billion and ?7.5 billion in 2021 (previous outlook 2021: ?5.0 billion to ?5.8 billion; analyst consensus 2021: ?6,299 million; full year 2020: ?3,560 million). The considerably increased earnings expectations in the Chemicals and Materials segments are the main reason for the increase of the forecast for 2021.

This outlook is based on the following assumptions regarding the global economic environment in 2021:

- Growth in gross domestic product: 5.5 percent (previously: 5.0 percent)

- Growth in industrial production: 6.5 percent (previously: 5.0 percent)

- Growth in chemical production: 6.5 percent (previously: 5.0 percent)

- Average euro/dollar exchange rate of $1.20 per euro (previously: $1.18 per euro)

- Average annual oil price (Brent crude) of $65 per barrel (previously: $60 per barrel)

BASF's forecast assumes that there will be no severe restrictions on economic activity due to measures to combat the COVID-19 pandemic in the second half of 2021.

Further information The overview of analyst estimates, which is compiled monthly on behalf of BASF, can be found at: www.basf.com/analysts-estimates.

On Wednesday, July 28, 2021 at 7:00 a.m. CEST, the company will publish the Half-Year Financial Report 2021 and will comment on the figures at a conference call for journalists (from 08:00 a.m. CEST) and a conference call for analysts and investors (from 10:00 a.m. CEST).

Contact Dr. Stefanie Wettberg Investor Relations +49 621-60-48002stefanie.wettberg@basf.com

Jens Fey Corporate Media Relations +49 621-60-99123jens.fey@basf.com

09-Jul-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language: English Company: BASF SE Carl-Bosch-Stra?e 38 67056 Ludwigshafen

Germany Phone: +49 (0)621 60-0 Fax: +49 (0)621 60-4 25 25 E-mail: info.service@basf.com Internet: www.basf.com ISIN: DE000BASF111, DE000A0JRFB0, B?rse Dublin, Frankfurter Wertpapierb?rse, DE000A0JRFA2, B?rse Dublin, Frankfurter Wertpapierb?rse, DE000A0JQF26, B?rse Dublin, Frankfurter Wertpapierb?rse, DE000A0EUB86, Frankfurter Wertpapierb?rse, DE0008846718, Frankfurter Wertpapierb?rse, DE000A0XFK16, B?rse Luxemburg, Frankfurter Wertpapierb?rse, XS0420401779, B?rse Luxemburg, XS0412154378, B?rse Luxemburg, Frankfurter B?rse, DE000A0T4DU7,B?rse Luxemburg, Frankfurter B?rse, CH0039943292, Swiss Exchange (SWX), CH0039943383, Swiss Exchange (SWX), DE000A0TKBM, B?rse Luxemburg, Frankfurter B?rse, XS0414672070, B?rse Luxemburg, , WKN: BASF11, WKN A0JRFB, B?rse Dublin, Frankfurter Wertpapierb?rse, , WKN A0JRFA, B?rse Dublin, Frankfurter Wertpapierb?rse, , WKN A0JQF2, B?rse Dublin, Frankfurter Wertpapierb?rse, , WKN A0EUB8, Frankfurter Wertpapierb?rse, , WKN 884671, Frankfurter Wertpapierb?rse, , WKN A0XFK1, B?rse Luxemburg, Frankfurter Wertpapierb?rse, , WKN A0XFHJ, B?rse Luxemburg, , WKN A0T6EG, B?rse Luxemburg, Frankfurter Wertpapierb?rse, , WKN A0T4DU, B?rse Luxemburg, Frankfurter Wertpapierb?rse, , WKN 3994329, Swiss Exchange (SWX), , WKN 3994338, Swiss Exchange (SWX), , WKN A0TKBM, B?rse Luxemburg, Frankfurter Wertpapierb?rse, , WKN A0T65R, B?rse Luxemburg, Indices: DAX, EURO STOXX 50 Listed: Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Hanover, Munich, Stuttgart; Regulated Unofficial Market in Tradegate Exchange; London, SIX EQS News ID: 1217405 ? End of Announcement DGAP News Service

1217405??09-Jul-2021?CET/CEST

@ dgap.de

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