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BASF Quarterly Statement

Q1 2022

Innovations for a sustainable future

Together with our customers, we are developing innovative products that accelerate the transformation to electromobility and enable more sustainable production. One example is the cathodic electrocoat (e-coat) CathoGuard^®, which BASF enhanced and refined with the help of digital methods. It enables application at lower temperatures, reducing CO₂ emissions while maintaining the same product properties. In addition, the technology meets established sustainability standards as it is free of tin and hazardous air pollutants and contains only a low level of volatile organic compounds. The photo shows Hendré Swart, laboratory manager for simulation/automation development. He analyzes customer samples to assess stone chip damage in 3D.

Martin Brudermüller

Chairman of the Board of Executive Directors

The first quarter of 2022 was characterized by significantly higher energy and raw materials prices as well as supply chain disruptions. “Nevertheless, we had a very good start to the year 2022.”

€23.1

billion

Sales

€2.8

billion

EBIT before special items

Outlook from February 25, 2022, maintained for the 2022 business year:

Sales: €74 billion to €77 billion
EBIT before special items: €6.6 billion to €7.2 billion
Return on capital employed (ROCE): 11.4% to 12.6%
CO₂ emissions: 19.6 million metric tons to 20.6 million metric tons

Climate change calls for fast, decisive action. We stand by this responsibility and are leading the way in the chemical industry: with ambitious climate protection targets. With innovative products. And with pioneering projects to reduce the carbon emissions of our production and along our value chains.

Our climate protection targets

By 2030, we want to reduce our greenhouse gas emissions (Scope 1 and 2) by 25% to 16.4 million metric tons. We aim to achieve net zero emissions by 2050. Our new Net Zero Accelerator unit is driving forward numerous projects to achieve these ambitious targets. One example is methane pyrolysis for the low-carbon production of hydrogen.

Renewable energies

We need enormous amounts of green electricity for the transformation to climate neutrality. Offshore wind farms such as Hollandse Kust Zuid – a joint project between BASF and Vattenfall – are key to our Make & Buy strategy. (Photo: Vattenfall)

Innovative technologies

We aim to reduce emissions at our Verbund site in Antwerp to almost zero by 2030. One building block on this path is a planned cooperation project with Air Liquide to capture and store CO₂ under the North Sea.

Power-to-steam

We want to use heat pumps to significantly reduce CO₂ emissions from steam generation. We are implementing a first pilot project together with Siemens Energy at our acetylene plant at the Ludwigshafen site in Germany.

Frontrunners in sustainability

BASF’s third largest Verbund site is currently being built in Zhanjiang in southern China. BASF plans to power the entire site with renewable electricity based on long-term supply contracts for green power with various energy suppliers.

BASF Quarterly Statement Q1 2022