Net Assets

Total assets amounted to €80,415 million as of December 31, 2024, around €3 billion above the prior-year figure.

Noncurrent assets increased by €3,260 million compared with December 31, 2023. The slight decrease of intangible assets amounted to €233 million and was mainly attributable to amortization of €670 million, including impairments of €87 million. Alongside additions of €133 million, currency effects (€341 million) in particular had an offsetting effect.

The increase of €3,118 million in property, plant and equipment was mainly due to additions of €6,694 million, particularly in connection with the construction of our Verbund site in Zhanjiang, China. Currency effects in the amount of €537 million also contributed to the rise in property, plant and equipment. Depreciation amounted to €3,978 million and included impairments and reversals of impairments totaling €689 million, which mainly related to the battery materials business in the Surface Technologies segment.

Compared with the prior year-end, the carrying amounts of integral investments accounted for using the equity method increased by €344 million to €2,399 million, mainly due to the addition of the shareholding in the Nordlicht 1 and 2 wind farm projects. The carrying amounts of non-integral shareholdings accounted for using the equity method as of December 31, 2024, were €1,107 million below the prior year-end figure. This was mainly attributable to the decline in the carrying amount of Wintershall Dea, which resulted from the transfer of assets to Harbour Energy, a capital decrease and a dividend payment. This was only partially offset by the addition of the equity-accounted shareholding in Harbour Energy.

Noncurrent other receivables and miscellaneous assets rose by €1,107 million to €2,366 million, which was mainly attributable to a rise in defined benefit assets. Derivatives with positive market values had a slightly offsetting effect.

Current assets amounted to €31,232 million as of December 31, 2024, €240 million below the prior-year figure. The decline in inventories of €195 million mainly resulted from the Agricultural Solutions segment, whereas all other segments recorded a slight increase in inventories. Trade accounts receivable remained at the prior-year level. Current other receivables and miscellaneous assets amounted to €3,256 million, €531 million below the prior-year figure, which was mainly attributable to lower precious metal trading items and lower tax refund claims.

Cash and cash equivalents rose by €289 million to €2,914 million.

Assets of disposal groups amounted to €181 million as of December 31, 2024, and mainly included the assets from the agreed sale of BASF’s Food and Health Performance Ingredients business.

For more information on the composition of individual asset items and their development, see the Notes to the Consolidated Financial Statements.