30.11.2011 • NewsBASFchemical industryKurt Bock

BASF Ups 2020 Sales Goal to €115 Billion

BASF CEO Kurt Bock announced BASFs new 2020 target of €115 billion. We...
BASF CEO Kurt Bock announced BASF's new 2020 target of €115 billion. "We already have leading positions and fast growing businesses in emerging markets, and this is something we will build on," he said.

German chemicals company BASF raised its 2020 sales target a quarter to €115 billion, banking on population growth in emerging markets to drive demand. BASF, the world's largest chemical company by sales, said it expected earnings before interest, tax, depreciation and amortization (EBITDA) to reach €23 billion by 2020, helped by cost-cutting and growing sales in emerging markets.

On the way to that target it aims to have 2015 EBITDA of €15 billion, up from €11.1 billion last year. Its prior 2020 sales target was €90 billion. In the long term, emerging markets should account for 45% of sales at its core chemicals and plastics business, excluding its oil and gas unit, up from about a third last year.

"We already have leading positions and fast growing businesses in emerging markets, and this is something we will build on," chief executive Kurt Bock said.

The group said it expected the chemical industry's annual production volume to rise an average 4% and that BASF would grow two percentage points faster than this.

 

Innovation Pitch

The Start-up Platform for Chemistry & Life Sciences
Discover Tomorrow’s Innovators

The Start-up Platform for Chemistry & Life Sciences

CHEManager Innovation Pitch supports innovation in the chemistry and life sciences start-up scene. The platform allows founders, young entrepreneurs, and start-ups to present their companies to the industry.

CHEManager Spotlight

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics
Creating Interfaces

Standardization and Harmonization of Digital Chemical and Pharmaceutical Logistics

CHEManager Spotlight is an exclusive event tailored for practitioners and decision-makers in the chemical industry. This part of our event series delves into the latest trends and innovations in logistics to streamline your operations and drive efficiency.