Last Update:
Mar. 10, 2011
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Part of the audited Consolidated Financial Statements and Management´s Analysis

Financing goals 2011

  • Continue to aim for solid A rating; reduction in debt level planned
  • Currently no need for medium- to long-term financing thanks to good cash flow
  • Unrestricted access to capital markets allows flexible use of attractive financing conditions

We will continue to adhere to our financing principles in 2011. We want to maintain our solid A rating. In addition, we aim to reduce indebtedness following the acquisition of Cognis. We want to maintain our level of cash and cash equivalents at the level of year-end 2010.

Cash outflows will primarily result from the scheduled payment of principal for bonds with a total volume equivalent to €1,253 million. In addition, dividend payments are expected to result in cash outflows of €2,021 million. Payments related to property, plant and equipment and intangible assets will rise compared with the level in 2010. Due to our strong operating cash flow, we currently see no need for additional medium- and long-term financing. However, our unrestricted access to the capital market allows us to benefit from attractive conditions to finance the BASF Group flexibly at all times.

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