- Sales decreased 3% due to currency effects and lower prices.
- EBITDA before special items was €1.5 billion, down from €1.6 billion in Q3 2024.
- BASF will start a €1.5 billion share buyback program in November 2025.
- The coatings business is reported as discontinued operations as of September 30, 2025.
Sales and Earnings
In Q3 2025, BASF's sales decreased by 3% compared to the previous year, primarily due to negative currency effects and lower prices. The company's EBITDA before special items was €1.5 billion, slightly down from €1.6 billion in Q3 2024. The EBITDA margin remained at 10%.
Discontinued Operations
The automotive OEM coatings, automotive refinish coatings, and surface treatment businesses are now reported as discontinued operations as of September 30, 2025, due to a planned divestiture. This change affects the sales and earnings figures for BASF Group and the Surface Technologies segment.
Financial Adjustments
Net income, including discontinued operations, was €172 million, down from €287 million in the prior-year quarter. Cash flows from operating activities totaled €1.4 billion, a decrease of €681 million from the previous year. Free cash flow was €398 million, down by €171 million.
Share Buyback Program
BASF plans to initiate a share buyback program in November 2025, with a volume of up to €1.5 billion, to be completed by June 2026. This is part of a larger €4 billion buyback plan announced in September 2024.
Outlook for 2025
BASF maintains its global economic assumptions for 2025, with GDP growth expected between 2.0% and 2.5%, and chemical production growth between 2.5% and 3.0%. The company has adjusted its full-year 2025 forecasts, with EBITDA before special items now expected between €6.7 billion and €7.1 billion.
