Significant Events

As of January 1, 2019, we have twelve divisions grouped into six segments as follows:

  • Chemicals: Petrochemicals and Intermediates
  • Materials: Performance Materials and Monomers
  • Industrial Solutions: Dispersions & Pigments and Performance Chemicals
  • Surface Technologies: Catalysts, Coatings and Construction Chemicals
  • Nutrition & Care: Care Chemicals and Nutrition & Health
  • Agricultural Solutions: Agricultural Solutions

The segment data for 2018 presented in this half-year financial report has been restated to reflect the new organizational structure. The areas of responsibility within the Board of Executive Directors were also reallocated with the reorganization.

For more information on the new organizational structure, see the Notes to the Consolidated Half-Year Financial Statements in this half-year financial report
(PDF:) For more information on the restated segment data, see the brochure Restated Figures 2018 and 2017
For more information on the allocation of responsibilities within the Board of Executive Directors, see the BASF Report 2018, Management and Supervisory Boards

Following the approval of all relevant authorities, BASF and LetterOne completed the merger of Wintershall and DEA effective May 1, 2019. In September 2018, BASF and LetterOne had signed a transaction agreement to merge their respective oil and gas businesses in a joint venture. Shareholder loans were replaced by bank loans in the course of the merger. BASF and LetterOne intend to list Wintershall Dea on the stock exchange by way of an initial public offering (IPO) in the second half of 2020, provided market conditions are suitable.

Since May 1, 2019, BASF’s participating interest in Wintershall Dea has been reported in the consolidated financial statements of the BASF Group according to the equity method, with an initial valuation at fair value. The gain from the transition from full consolidation to the equity method is included in income after taxes from discontinued operations for the second quarter of 2019. Since May 1, 2019, BASF has reported its share of Wintershall Dea’s net income in EBIT before special items and in EBIT of the BASF Group, presented under Other.