Management’s Report

The BASF Group

At BASF, we create chemistry – and have been doing so for 150 years. As the world’s leading chemical company, we combine economic success with environmental protection and social responsibility. In the BASF Group, around 113,000 employees work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our broad portfolio is arranged into five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas.

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Our Strategy

With the “We create chemistry” strategy, BASF has set itself ambitious goals in order to strengthen its position as the world’s leading chemical company. We want to contribute to a sustainable future and have embedded this into our corporate purpose: “We create chemistry for a sustainable future.”

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Innovation

Innovations based on effective and efficient research and development are an important growth engine for BASF. Our employees work in interdisciplinary teams on innovative processes and products for a sustainable future. This is how we ensure our long-term business success with chemistry-based solutions for almost all sectors of industry.

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Investments, Acquisitions, Divestitures

In addition to innovations, investments and acquisitions will contribute decisively toward achieving our ambitious long-term growth goals. We are intensifying our investment in emerging markets and in North America. We use targeted acquisitions to supplement our organic growth.

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Business Models and Customer Relations

BASF’s customer portfolio ranges from major global customers and medium-sized businesses to local workshops. We align our business models and sales channels with the respective customer groups and market segments. In line with our strategic principle, “We add value as one company,” we tightly bundle our products and services to target the specific needs of customers from various sectors and release innovations more quickly to the market.

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Working at BASF

Our employees are fundamental to achieving the goals of our “We create chemistry” strategy. We want to attract talented people, retain them in the company, and support them in their development. To do so, we cultivate a working environment that inspires and connects people. It is founded on inclusive leadership based on mutual trust, respect and dedication to top performance.

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Social Commitment

We take on social responsibility: We are involved in diverse projects worldwide, especially in the communities where our sites are located. Our main focus is on access to education. In this way, we promote innovative capacity and future viability.

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BASF Group business year

The global economy grew only moderately in 2014. After a positive start to the year, the economy in the European Union grew faster than in 2013; however, it temporarily lost momentum over the course of the year. The U.S. economy was able to quickly recover after a weather-related slump at the beginning of the year, slightly outpacing the previous year’s growth rate. The Japanese economy was dampened by a sales tax increase. In China, growth declined slightly but remained at a high level. At 2.5%, global gross domestic product increased at about the same rate overall as in 2013 (+2.4%1), which was less than we had originally forecast for 2014 (+2.8%). The average crude oil price for Brent blend fell to $99 per barrel (2013: $109 per barrel).

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Segments

BASF’s five segments: Chemicals, Performance Products, Functional Materials & Solutions, Agricultural Solutions and Oil & Gas

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Regional Results

The regional results describe the development in the four regions Europe, North America, Asia Pacific and South America, Africa, Middle East.

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Responsibility Along the Value Chain

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Forecast

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