BASF Report 2025

Business Review by Segment

The content of this section is not part of the statutory audit of the annual financial statements but has undergone a separate limited assurance by our auditor.

The content of this section is voluntary, unaudited information, which was critically read by the auditor.

Segment overview

 

Sales

EBITDA before
special items

EBITDA

Million €

2025

2024

2025

2024

2025

2024

Chemicals

10,055

10,838

853

1,342

747

1,314

Materials

12,742

13,510

1,575

1,805

1,502

1,769

Industrial Solutionsa

8,594

9,223

1,200

1,437

1,153

1,412

Nutrition & Care

6,509

6,729

649

814

630

819

Surface Technologiesa

8,967

8,055

800

470

1,394

405

Agricultural Solutions

9,587

9,798

2,081

1,938

1,925

1,659

Other

3,202

3,290

–604

–567

–1,732

–1,167

BASF Group

59,657

61,444

6,554

7,240

5,618

6,211

 

 

 

 

 

 

 

 

Segment cash flow

Assets

Investments including acquisitionsb

Million €

2025

2024

2025

2024

2025

2024

Chemicals

–1,182

–2,051

14,400

14,266

2,108

3,403

Materials

1,054

766

9,226

10,135

940

1,139

Industrial Solutionsa

1,061

1,102

6,560

7,494

391

349

Nutrition & Care

–67

–31

7,610

7,887

662

809

Surface Technologiesa

627

415

5,836

5,609

116

309

Agricultural Solutions

1,505

1,861

14,243

15,377

351

387

Otherc

 

 

18,299

19,647

131

240

BASF Group

 

 

76,174

80,415

4,698

6,636

a

Since January 1, 2025, the chemical and refining catalysts business has been reported as part of the Performance Chemicals division in the Industrial Solutions segment. It was previously part of the former Catalysts division in the Surface Technologies segment. The prior-year figures have been restated accordingly.

b

Additions to property, plant and equipment and intangible assets, excluding additions attributable to the discontinued coatings business; prior-year figures have been restated

c

Includes assets of businesses recognized under Other and reconciliation to assets of the BASF Group
Salesa

 

Q1

Q2

Q3

Q4

Million €

2025

2024

2025

2024

2025

2024

2025

2024

Chemicals

2,777

2,764

2,502

2,838

2,526

2,714

2,251

2,521

Materials

3,449

3,441

3,240

3,416

3,153

3,413

2,899

3,240

Industrial Solutionsb

2,269

2,285

2,160

2,377

2,134

2,339

2,032

2,222

Nutrition & Care

1,720

1,729

1,618

1,667

1,637

1,711

1,535

1,623

Surface Technologiesb

2,189

2,183

2,355

2,047

2,302

1,963

2,121

1,863

Agricultural Solutions

3,203

3,478

2,198

1,937

1,748

1,849

2,437

2,534

Other

903

734

715

869

828

827

757

860

BASF Group

16,509

16,615

14,788

15,151

14,328

14,816

14,032

14,863

a

Quarterly results not audited

b

Since January 1, 2025, the chemical and refining catalysts business has been reported as part of the Performance Chemicals division in the Industrial Solutions segment. It was previously part of the former Catalysts division in the Surface Technologies segment. The prior-year figures have been restated accordingly.
EBITDA before special itemsa

 

Q1

Q2

Q3

Q4

Million €

2025

2024

2025

2024

2025

2024

2025

2024

Chemicals

336

453

209

444

262

342

46

103

Materials

469

508

408

448

408

484

289

365

Industrial Solutionsb

361

383

307

367

291

378

242

308

Nutrition & Care

230

262

196

183

134

201

89

168

Surface Technologiesb

170

131

172

152

328

118

130

70

Agricultural Solutions

1,204

1,361

417

135

80

49

381

394

Other

–274

–558

–114

60

–73

–94

–144

25

BASF Group

2,495

2,541

1,595

1,788

1,430

1,478

1,033

1,434

a

Quarterly results not audited

b

Since January 1, 2025, the chemical and refining catalysts business has been reported as part of the Performance Chemicals division in the Industrial Solutions segment. It was previously part of the former Catalysts division in the Surface Technologies segment. The prior-year figures have been restated accordingly.
Segment cash flowa

 

Q1

Q2

Q3

Q4

Million €

2025

2024

2025

2024

2025

2024

2025

2024

Chemicals

–390

–556

–176

–406

–38

–363

–577

–726

Materials

44

85

256

137

338

299

417

246

Industrial Solutionsb

142

117

224

167

353

403

343

416

Nutrition & Care

–103

–64

–27

19

–34

52

97

–38

Surface Technologiesb

–2

189

63

109

274

101

292

16

Agricultural Solutions

–978

–715

811

1,005

465

612

1,206

959

a

Quarterly results not audited

b

Since January 1, 2025, the chemical and refining catalysts business has been reported as part of the Performance Chemicals division in the Industrial Solutions segment. It was previously part of the former Catalysts division in the Surface Technologies segment. The prior-year figures have been restated accordingly.
Steam cracker
A steam cracker is a plant in which steam is used to “crack” naphtha (petroleum) or natural gas. The resulting petrochemicals are the raw materials used to produce most of BASF’s products.
Traits
Traits are commercial plant characteristics, such as an inherent resistance to certain herbicides or an inherent defense against certain insects.
Value chain
A value chain describes the successive steps in a production process: from raw materials through various intermediate steps, such as transportation and production, to the finished product.

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Published on February 27, 2026

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