- BASF's 2025 EBITDA before special items was €6.6 billion, down from €7.2 billion in 2024.
- Free cash flow increased to €1.3 billion in 2025, with a forecast of €1.5-€2.3 billion for 2026.
- Capital expenditures for 2026 are projected at €3.4 billion, down from €4.3 billion in 2025.
- BASF plans to buy back up to €1.5 billion of its own shares by June 2026.
Financial Performance
In 2025, BASF reported an EBITDA before special items of €6.6 billion, a decrease from €7.2 billion in 2024. Free cash flow rose significantly to €1.3 billion, up from €0.7 billion the previous year. Sales were €59.7 billion, impacted by negative currency effects. The proposed dividend for 2025 remains at €2.25 per share.
Cost Management and Investments
BASF accelerated its cost savings programs, achieving a total annual cost reduction run rate of €1.7 billion by the end of 2025. Capital expenditures for 2026 are projected at €3.4 billion, down from €4.3 billion in 2025. The company plans to buy back up to €1.5 billion of its own shares by June 2026.
Operational Developments
BASF successfully started up major plants at its new Verbund site in Zhanjiang, China. The company reduced its number of senior executives by 11% and overall employees by around 4,800, excluding new hires at the Zhanjiang site.
2026 Outlook
BASF forecasts an EBITDA before special items of €6.2 billion to €7.0 billion for 2026. Free cash flow is expected to be between €1.5 billion and €2.3 billion. CO2 emissions are projected to rise due to the Zhanjiang site startup, but BASF plans to mitigate this with energy efficiency measures and a shift to renewable energy.
