Our expectations for the global economic environment in 2019 remain unchanged:

  • Growth in gross domestic product: 2.8%
  • Growth in industrial production: 2.7%
  • Growth in chemical production: 2.7%
  • Average euro/dollar exchange rate of $1.15 per euro
  • Average Brent blend oil price for the year of $70 per barrel

Overall, the statements on opportunities and risks made in the BASF Report 2018 continue to apply.

We are confirming the sales and earnings forecast1 for the BASF Group made in the BASF Report 2018:

  • Slight sales growth
  • Slight increase in EBIT before special items
  • Return on capital employed (ROCE) slightly higher than the cost of capital percentage, with ROCE slightly lower than in 2018

1 For sales, “slight” represents a change of 1–5%, while “considerable” applies to changes of 6% and higher. “At prior-year level” indicates no change (+/–0%). For earnings, “slight” means a change of 1–10%, while “considerable” is used for changes of 11% and higher. “At prior-year level” indicates no change (+/–0%). At a cost of capital percentage of 10% for 2018 and 2019, we define a change in ROCE of 0.1 to 1.0 percentage points as “slight,” a change of more than 1.0 percentage points as “considerable” and no change (+/–0 percentage points) as “at prior-year level.”