BASF SE Q4 2021 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Jaideep Mukesh Pandya - On Field Investment Research LLP - Analyst : My question is on ag. So in '19, you guys gave a guidance on ag for roughly 23% margin. In the last couple of years, obviously this business has gone significantly backwards. And when I think about the mix, I mean, your fungicide sales have gone up by about 20%, 2021 versus '19. And you obviously have got buyers, vegetable seeds and other seeds business. And then R&D costs are also roughly flat. So I appreciate the whole bonus, reshuffling thing, but underlying, what is really going on in ag? And then are you still sticking to the 23% margin guidance despite the whole bonus, reshuffling? That's my first question. And the second question really is around your nickel and cobalt sourcing because obviously you have a relationship with [Nors nickel]. And in the current geopolitical context, what is the plan B if really there are hard sanctions around trade agreements between Russia and Europe?

Question: Jaideep Mukesh Pandya - On Field Investment Research LLP - Analyst : And if I may just say, it would really be good if you could increase the focus a little bit on ag in the communication as well. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. FEBRUARY 25, 2022 / 10:30AM, BASFn.DE - Q4 2021 BASF SE Earnings Call