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BASF SE (BAS.DE)

XETRA - XETRA Delayed price. Currency in EUR
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54.19-0.96 (-1.74%)
At close: 5:35PM CEST
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Previous close55.15
Open55.48
Bid54.48 x 139300
Ask54.49 x 16500
Day's range54.19 - 55.84
52-week range37.35 - 72.17
Volume6,716,399
Avg. volume2,865,972
Market cap49.772B
Beta (5Y monthly)1.33
PE ratio (TTM)46.60
EPS (TTM)1.16
Earnings date28 Oct 2020
Forward dividend & yield3.30 (5.98%)
Ex-dividend date19 Jun 2020
1y target estN/A
  • China’s Chemicals Mega-Merger May Have Come Too Late
    Bloomberg

    China’s Chemicals Mega-Merger May Have Come Too Late

    (Bloomberg Opinion) -- Better late than never?Three years of efforts to combine China’s giant state-owned chemicals companies Sinochem Group Co. and China National Chemical Corp., or ChemChina, may finally be paying off. A merger between the two unlisted companies is at last “in progress,” Frank Ning, the chairman of both companies, said last week.Such a deal would create a behemoth with about 1.04 trillion yuan ($152.2 billion) of revenue. If it was ever listed, that might result in a market capitalization of 777 billion yuan on the 0.75 times price-sales multiple typical of large chemical businesses — roughly the size of BASF SE, Dow Inc., and Nutrien Ltd. put together.Size isn’t everything, though, and any completed SinoChemChina deal is likely to look less like a triumph than a limp to the finish line.The reason is ChemChina’s vast and growing debt mountain. Since its $43 billion takeover of Swiss crop-science giant Syngenta AG at the height of China’s outbound acquisitions spree in 2017, the company’s borrowings have only grown, thanks to ongoing capital spending far in excess of operating cashflow. The $20 billion that funded the Syngenta deal looks modest next to net debt which stood at 434.23 billion yuan, or $63.6 billion, at the end of June.Operating income barely covers the interest bill and the company hasn’t made a profit since the takeover was completed. Despite hopes that owning one of the world’s crop giants would allow China to drastically increase the productivity of its domestic farming industry and food security, Syngenta’s mainland sales have barely risen, with the biggest jump in revenue coming from Latin America. No wonder’s China’s ambassador to Switzerland labeled the takeover a mistake.A spinoff will go some way toward winding back the debt clock. Ning has already been working to combine ChemChina and Sinochem's agricultural assets into a vehicle that would be suitable for listing on mainland exchanges. Pre-IPO financing from state-backed investors could provide $10 billion in return for 20% to 30% of the company, Reuters reported last year citing people familiar with the situation. If a similar amount could be raised from smaller shareholders, SinoChemChina could end up with $20 billion while still holding onto a majority stake in its listed agritech business.There’s no time like the present to get that long-awaited initial public offering done. China’s equity markets are in a frothy state these days, as my colleague Shuli Ren has described — perfect conditions for raising cheap money. The multiple on the CSI 300 index of large companies recently broke through 16 times for the first time since the 2015 market bubble.There’s been another bit of news that may throw a wrench in the works, though. The U.S. Department of Defense last month added both Sinochem and ChemChina to its list of entities it considers “Communist Chinese military companies.” That gives the White House broad powers to impose crippling sanctions on any company doing business with them. Just consider the $1.19 billion fine the Trump administration levied on ZTE Corp. in 2017.That's some risk factor to add to your IPO documents. On one hand, SinoChemChina’s bankers will have to hope that the febrile conditions in China’s equity markets hold out long enough for them to do the remaining work on the share sale. On the other, they’ll be looking nervously over their shoulders for signs of a late-night Trump tweet that could sink the whole show. More than 97% of Syngenta’s business is outside China. If sanctions were imposed, nothing less than full separation from SinoChemChina would be sufficient to preserve it from ruin.Sanctions hold a sword of Damocles over what would remain of the business, too. The billions that ChemChina has been dedicating to capital investment is just a small part of the constellation of new chemical plants under construction in China in recent years, with vast complexes being planned or built by Hengli Petrochemical Co., Rongsheng Petro Chemical Co. and even BASF. Despite rapid increases in domestic demand, these plants need robust export markets to soak up their product — but that route would be closed off to SinoChemChina if Washington was to unleash its thunderbolt.A better prospect would be to junk plans for a domestic IPO and sell Syngenta back to the market in its entirety, along with ChemChina’s 45% stake in tire maker Pirelli & C. SpA and Sinochem’s oil-trading unit. That would give up on SinoChemChina’s grand strategic ambitions, but would at least salvage the maximum amount of cash from the wreckage.Ning, who earned his MBA at the University of Pittsburgh, could then turn his entrepreneurial skills to a task even more important than doing mega-deals: Getting China’s newborn chemicals giant to live within its means. Once upon a time, Sinochem itself was a candidate for a stock market listing. If it’s to get in the sort of shape necessary to attract investors, a thorough clear-out is in order.This column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.David Fickling is a Bloomberg Opinion columnist covering commodities, as well as industrial and consumer companies. He has been a reporter for Bloomberg News, Dow Jones, the Wall Street Journal, the Financial Times and the Guardian.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • GlobeNewswire

    BASF sponsors Emerging Leaders Program at GreenBiz’s Circularity 20 online event

    FLORHAM PARK, N.J., Aug. 26, 2020 (GLOBE NEWSWIRE) -- Twelve recipients of the Circularity 20 Emerging Leaders Program were announced today at the GreenBiz’s Circularity 20 online event. Sponsored by BASF, the program is designed to empower a group of up-and-coming circular economy leaders to solve the world’s most complex problems. The GreenBiz team hand-selected and welcomed the Circularity 20 Emerging Leaders from across the region from diverse backgrounds in the field of sustainability and STEM. In line with BASF’s strong focus on Diversity & Inclusion, the program will provide the cohort with opportunities to further develop their wide range of skillsets.“To solve the world’s biggest challenges, we will need everyone’s best thinking,” said Pete May, President and Co-Founder of GreenBiz Group. “Since 2017, our Emerging Leaders program aims to challenge and empower a new generation of innovators and entrepreneurs to bring their diverse perspectives and best ideas to the world. We can’t think of any better partner to foster innovation than BASF.”The Emerging Leaders will participate in the three-day, solutions-focused event at the forefront of the circular economy. The program features engaging and informative plenaries, breakouts, networking opportunities and a virtual expo.Additionally, they will have the opportunity to engage in a six-month mentorship program with BASF executives. “The sponsorship underlines BASF’s commitment to supporting the next generation of problem solvers and creative thinkers to help find innovative, sustainable solutions,” said Mitch Toomey, Director of Sustainability for BASF, North America. “We want to provide the Emerging Leaders with an opportunity to be inspired and grow as professionals.”BASF is actively refining the ‘take-make-waste’ system and embracing the circular economy model. The company aims to manufacture high-performance products on an industrial scale based on recycled feedstock to accelerate the transition to a circular economy. Circularity 20 is a complimentary online event hosted by GreenBiz from August 25-27, 2020. For more information and to register, visit the event page.About BASFBASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 18,800 employees in North America and had sales of $18.4 billion in 2019. For more information about BASF’s North American operations, visit www.basf.com/us.At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 117,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2019. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com. CONTACT: Media Relations contact Katharina Meischen Phone: 973-245-7226 Katharina.meischen@basf.com

  • GlobeNewswire

    BASF named to Diversity Best Practices Inclusion Index

    Recognition underscores BASF’s continued commitment to fostering an inclusive workplaceFLORHAM PARK, N.J., Aug. 18, 2020 (GLOBE NEWSWIRE) -- BASF was named to the Inclusion Index unveiled today by Diversity Best Practices, a division of Working Mother Media. This is the first time BASF has earned this distinction. The Inclusion Index helps organizations understand trends and gaps in demographic representation, and identifies diversity, equity and inclusion solutions to close gaps. “Being named to the Diversity Best Practices Inclusion Index is recognition of our commitment to diversity and inclusion as cornerstones of our BASF corporate values,” said Patricia Rossman, Chief Diversity + Inclusion Officer, BASF Corporation. “The powerful combination of a diverse workforce and conscious inclusion will help us deliver on our aspiration to be the leading chemical company for our customers, and a great place to work for our teams. While we have more work to do, recognition such as this reinforces that we are on the right track.”Organizations provided data and were measured in three key areas: best practices in the recruitment, retention and advancement of people from underrepresented groups including women, racial/ethnic minorities, people with disabilities, and LGBTQ people; inclusive corporate culture, including leadership accountability; and demographic diversity for women and racial/ethnic minorities.“Diversity, equity and inclusion continues to be a topic of critical importance, especially in these times of heightened racism and social injustice,” says Deborah Munster, Vice President, Diversity Best Practices. “The good news is that corporate America is paying closer attention to its D&I practices, and I am proud to recognize the work our Inclusion Index companies are doing to elevate their efforts to drive a more equitable future.”BASF’s Diversity + Inclusion strategy is based on the understanding that an inclusive work environment that values the diversity of employees’ talents, experiences and ideas leads to more innovation and higher performance. The company implemented rigorous programs that leverage the value of diversity through inclusion, governing leader action and accountability – as well as efforts to ensure the proper infrastructure are in place to support inclusion, and education, awareness and communication. Additionally, standards for hiring manager behavior ensure the full spectrum of opinions are considered in all hiring decisions. For more information, visit BASF’s Diversity + Inclusion website.About BASFBASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 18,800 employees in North America and had sales of $18.4 billion in 2019. For more information about BASF’s North American operations, visit www.basf.com/us.At BASF, we create chemistry for a sustainable future. We combine economic success with environmental protection and social responsibility. More than 117,000 employees in the BASF Group work on contributing to the success of our customers in nearly all sectors and almost every country in the world. Our portfolio is organized into six segments: Chemicals, Materials, Industrial Solutions, Surface Technologies, Nutrition & Care and Agricultural Solutions. BASF generated sales of €59 billion in 2019. BASF shares are traded on the stock exchange in Frankfurt (BAS) and as American Depositary Receipts (BASFY) in the U.S. Further information at www.basf.com. CONTACT: Media Relations contact Katharina Meischen Phone: 973-245-7226 Katharina.meischen@basf.com