1 – Basis of Presentation

(XLSX:) XLS

Selected exchange rates (EUR 1 equals)

 

Closing rates

Average rates H1

 

June 30, 2021

Dec. 31, 2020

2021

2020

Brazil (BRL)

5.91

6.37

6.49

5.41

China (CNY)

7.67

8.02

7.80

7.75

United Kingdom (GBP)

0.86

0.90

0.87

0.87

Japan (JPY)

131.43

126.49

129.87

119.27

Malaysia (MYR)

4.93

4.93

4.94

4.68

Mexico (MXN)

23.58

24.42

24.33

23.84

Norway (NOK)

10.17

10.47

10.18

10.73

Russian Federation (RUB)

86.77

91.47

89.55

76.67

Switzerland (CHF)

1.10

1.08

1.09

1.06

South Korea (KRW)

1,341.41

1,336.00

1,347.54

1,329.53

United States (USD)

1.19

1.23

1.21

1.10

The Consolidated Financial Statements of the BASF Group for the year ending December 31, 2020, were prepared in accordance with the International Financial Reporting Standards (IFRS) in effect as of the balance sheet date. The Consolidated Half-Year Financial Statements as of June 30, 2021, have been prepared – in line with the rules of International Accounting Standard 34 – in abbreviated form and continuing the same accounting policies.

The Condensed Consolidated Half-Year Financial Statements and the Consolidated Interim Management’s Report have not been audited, nor have they undergone an auditor’s review.

The BASF Report 2020 containing the Consolidated Financial Statements as of December 31, 2020, can be found online at basf.com/report

Accounting policies applied for the first time in 2021

  • Amendments to IFRS 4 – Insurance Contracts – Deferral of IFRS 9
  • Amendments to IFRS 9 – Financial Instruments, IAS 39 – Financial Instruments: Recognition and Measurement, IFRS 7 – Financial Instruments: Disclosures, IFRS 4 – Insurance Contracts, and IFRS 16 – Leases – Interest Rate Benchmark Reform – Phase 2

These amendments had no material effect on the Consolidated Financial Statements.

Accounting policies issued but not yet endorsed by the European Union

  • Amendments to IFRS 16 Leases: Covid-19-Related Rent Concessions beyond June 30, 2021. These amendments were issued on March 31, 2021, effective as of April 1, 2021.
  • Amendments to IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities Arising from a Single Transaction. These were issued on May 7, 2021, effective for reporting periods as of January 1, 2023.

These amendments are unlikely to have a material impact on the reporting of BASF.