BASF Group Q3 2021 (XLSX:) XLS Q3 January–September 2021 2020 +/– 2021 2020 +/– Sales Million € 19,669 13,811 42% 58,822 43,244 36% Income from operations before depreciation, amortization and special items Million € 2,771 1,542 80% 9,169 5,350 71% Income from operations before depreciation and amortization (EBITDA) Million € 2,729 1,044 161% 9,104 4,542 100% EBITDA margin % 13.9 7.6 − 15.5 10.5 − Depreciation and amortizationa Million € 907 3,682 –75% 2,655 5,665 –53% Income from operations (EBIT) Million € 1,822 –2,638 . 6,449 –1,123 . Special items Million € –43 –3,219 99% –92 –3,570 97% EBIT before special items Million € 1,865 581 221% 6,541 2,447 167% Income before income taxes Million € 1,777 –2,786 . 6,213 –2,509 . Income after taxes from continuing operations Million € 1,424 –2,177 . 5,028 –2,184 . Income after taxes from discontinued operations Million € –43 13 . –43 49 . Net income Million € 1,253 –2,122 . 4,625 –2,115 . Earnings per share € 1.36 –2.31 . 5.03 –2.30 . Adjusted earnings per share € 1.56 0.60 160% 5.59 2.11 165% Research and development expenses Million € 523 518 1% 1,579 1,492 6% Personnel expenses Million € 2,654 2,590 2% 8,525 8,095 5% Employees (September 30) 110,672 117,922 –6% 110,672 117,922 –6% Assets (September 30) Million € 86,102 86,973 –1% 86,102 86,973 –1% Investments including acquisitionsb Million € 1,792 811 121% 3,168 3,601 –12% Equity ratio (September 30) % 47.2 39.8 − 47.2 39.8 − Net debt (September 30) Million € 16,680 15,702 6% 16,680 15,702 6% Cash flows from operating activities Million € 1,896 2,100 –10% 3,908 3,312 18% Free cash flow Million € 1,077 1,364 –21% 1,866 1,281 46% a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) b Additions to property, plant and equipment and intangible assets next