Net Assets and Financial Position of BASF SE

Net assets

Total assets declined by €3,032 million compared with December 31, 2023, to €54,001 million.

Fixed assets increased by €4,174 million. Intangible assets declined by €212 million. In addition to amortization, impairments of €46 million were recognized in the Nutrition & Care segment. Property, plant and equipment decreased by €62 million. The investments were slightly higher than depreciation. Furthermore, impairments of €86 million were recognized, which related, among other things, to a plant in the Chemicals segment. Financial assets increased by €4,448 million mainly due to granting loans to subsidiaries.

Current assets and other assets decreased by €7,206 million. Receivables from affiliated companies declined by €7,024 million particularly due to the repayment of financial investments within the Group and lower profit transfers. In addition, deferred tax assets declined by €287 million as a result of valuation allowances. Cash and cash equivalents decreased by €48 million and consisted of cash at banks and on hand as of December 31, 2024. By contrast, trade accounts receivable increased by €66 million and inventories by €27 million.

Financial position

Equity decreased by €330 million. The net income of €2,704 million was offset by the dividend of €3,035 million paid for the 2023 reporting year.

Provisions decreased by a total of €733 million. This included a decrease of provisions for pensions by €765 million to €529 million. The main reason for this decrease was the €270 million increase in pension plan assets attributable to higher fair values. Additionally, pension obligations decreased by €495 million, mainly due to benefits paid and changes to actuarial valuation parameters. Pension obligations in the amount of €6,998 million were offset against pension plan assets totaling €6,469 million. Provisions for taxes decreased by €17 million. By contrast, other provisions increased by €49 million, particularly due to higher provisions for environmental protection measures.

Liabilities and other items decreased by €1,969 million. Within this item, liabilities to affiliated companies decreased by €2,153 million, mainly due to the repayment of intragroup borrowings. By contrast, financial indebtedness increased by €187 million because the issuance of financial debts was higher than repayments in the fiscal year.