BASF Reports Lower Revenue but Improved Core Operating Performance

The chemical giant's 2024 results were impacted by restructuring costs and write-downs, particularly in its battery materials business.

BASF's revenue declined by 5.2% in 2024 to €65.3 billion, driven by falling prices despite higher sales volumes.
Core operating earnings (EBITDA before special items) rose to €7.9 billion from €7.7 billion in 2023, but fell short of the company's forecasted range of €8.0–8.6 billion.
The company's EBIT dropped to €2.0 billion, below analyst expectations of €3.2 billion, due to €1.9 billion in restructuring and write-down costs.
BASF's battery materials business, once seen as a growth driver, faced setbacks with an investment freeze and reclassification as non-core amid market and technology risks.
The Ludwigshafen site, BASF's largest, continues to face challenges, with cost-cutting measures and restructuring programs reducing thousands of jobs in recent years.