BASF Half-Year Report 2023

In the first half of 2023, sales were €37,297 million; this corresponds to a decrease of €8,761 million compared with the prior-year period. The development was mainly attributable to a significant decline in volumes in all segments as a result of lower demand. Volumes were considerably below the level of the first half of 2022, especially in the Chemicals and Materials segments. Lower prices, primarily in the Chemicals, Surface Technologies and Materials segments, contributed to the decline in sales. These resulted primarily from lower raw materials prices. Considerable price increases in the Agricultural Solutions segment only partially compensated for the price development in the other segments. In addition, sales performance was burdened by currency effects. Negative portfolio effects also dampened sales performance, primarily in the Industrial Solutions segment, due to the divestiture of the kaolin minerals business as of September 30, 2022.