BASF reports steady sales, though pricing and currency hit earnings
By Josh White
Date: Friday 23 Jan 2026
(Sharecast News) - BASF reported broadly steady sales and a sharp improvement in cash generation in its preliminary full-year 2025 results on Friday, despite weaker pricing and currency headwinds weighing on earnings.
The German chemicals group said sales for the year were expected to total €59.7bn, excluding its discontinued coatings activities, broadly in line with market expectations and around 3% lower than in 2024.
Volumes edged slightly higher, but that was more than offset by lower prices and negative foreign-exchange effects, with trends in the fourth quarter largely unchanged from earlier in the year.
Adjusted EBITDA was forecast at €6.6bn, modestly below analyst consensus and under the lower end of BASF's previous guidance range of €6.7bn to €7.1bn.
On a pro-forma basis excluding Coatings, that represented an 8% decline year-on-year.
Reported EBIT slipped to €1.6bn as higher restructuring costs weighed, while reported net income rose to €1.6bn from €1.3bn, helped by a stronger contribution from Wintershall Dea.
Free cash flow stood out as a key positive, more than doubling to €1.3bn from €0.7bn a year earlier and coming in well ahead of expectations.
The improvement was driven mainly by a sharp reduction in capital expenditure to €4.3bn from €6.2bn in 2024, reflecting the completion of major investment projects in China, although operating cash flow eased to €5.6bn due largely to higher working capital linked to precious metals trading.
At 1324 CET (1224 GMT), shares in BASF were down 1.89% at €45.64.
Reporting by Josh White for Sharecast.com.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN