Bulletin: BASF?s Fourth-Quarter Results Showcase Its Recovery

FRANKFURT (S&P Global Ratings) March 4, 2021--S&P Global Ratings today said that BASF SE's (A/Negative/A-1) fourth-quarter results show a swift rebound in operating performance. Despite challenges related to the COVID-19 pandemic, BASF's 2020 results were stronger than we expected, including a steep rebound in the second half. We anticipate a progressive improvement of the group's credit metrics in 2021, assuming the economic recovery and positive market trends continue. Germany-based BASF, the world's largest diversified chemicals group, generated S&P Global Ratings-adjusted EBITDA of about €6.7 billion in 2020, down 13.5% versus the previous year, with fourth-quarter EBITDA more than 20% higher than for the same period in 2019. This was supported by volume increases across almost all business divisions and regions,

...March 4, 2021 FRANKFURT (S&P Global Ratings) March 4, 2021--S&P Global Ratings today said that BASF SE's (A/Negative/A-1) fourth-quarter results show a swift rebound in operating performance. Despite challenges related to the COVID-19 pandemic, BASF's 2020 results were stronger than we expected, including a steep rebound in the second half. We anticipate a progressive improvement of the group's credit metrics in 2021, assuming the economic recovery and positive market trends continue. Germany-based BASF, the world's largest diversified chemicals group, generated S&P Global Ratings-adjusted EBITDA of about 6.7 billion in 2020, down 13.5% versus the previous year, with fourth-quarter EBITDA more than 20% higher than for the same period in 2019. This was supported by volume increases across almost all business divisions and regions, and double-digit growth rates in China in the fourth quarter. BASF is also well on the way to achieve its 2030 ESG targets. Free operating cash flow (FOCF) remained...

Bulletin