BASF’s Agricultural Solutions segment sales were slightly below prior-year level in 2020

Date:03-01-2021

• Sales of €7,660 million, slightly below prior-year level despite higher volumes due to negative currency effects

• EBIT before special items of €970 million, down 11% from the 2019 figure mainly due to currency effects

At €7,660 million, sales to third parties in BASF's Agricultural Solutions segment were €154 million below the prior-year level in 2020. Sales performance was significantly weighed down by negative currency effects, particularly in the region South America, Africa, Middle East. This contrasted with volume growth in a challenging market environment. Overall, prices were slightly above the prior-year level.

In Europe, sales declined by €85 million year on year to €2,035 million. This was largely attributable to lower volumes, especially of herbicides and fungicides, mainly as a consequence of dry weather conditions in large parts of Europe. Sales were also reduced by negative currency effects, primarily in Turkey and eastern Europe. Prices were on a level with the previous year. 

Sales in North America decreased by €104 million to €3,004 million. Prices were slightly below the prior-year level in a continued challenging market environment, especially for herbicides and fungicides. Sales development was also weighed down by negative currency effects. This was partially offset by higher sales volumes, particularly for fungicides, after the distributor destocking and challenges relating to weather conditions and trade conflicts that dominated the previous year.

Sales in Asia rose by €59 million to €844 million. This was largely attributable to higher sales volumes, especially of herbicides and fungicides, primarily in India, China and Australia. Slightly higher price levels contributed to the positive sales development, while negative currency effects had a dampening impact.

Sales in the region South America, Africa, Middle East amounted to €1,777 million, €24 million below the previous year. This was primarily due to significantly negative currency effects, mainly from the depreciation of the Brazilian real. Considerably higher volumes in all indications and sectors, especially in Brazil, and higher price levels were unable to fully offset the negative currency developments.

Income from operations (EBIT) before special items was €970 million, €125 million below the 2019 figure. This was mainly due to currency effects.

EBIT amounted to €582 million, €346 million less than in the previous year. This figure included special charges in the amount of €388 million, primarily from impairments in connection with measures to streamline the global glufosinate-ammonium production network.

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