BFFAF - BASF SE (BASFY) Q1 2024 Earnings Call Transcript
2024-04-25 05:48:09 ET
BASF SE (BASFY)
Q1 2024 Earnings Conference Call
April 25, 2024, 01:30 ET
Company Participants
Stefanie Wettberg - SVP, IR
Martin Brudermuller - Chairman & CEO
Dirk Elvermann - CFO & Chief Digital Officer
Conference Call Participants
Samuel Perry - UBS
Christian Faitz - Kepler Cheuvreux
Matthew Yates - Bank of America Merrill Lynch
Jaideep Pandya - On Field Investment Research
Chris Counihan - Jefferies
Chetan Udeshi - JPMorgan Chase & Co.
Tony Jones - Redburn
Laurent Favre - BNP Paribas Exane
Sebastian Bray - Berenberg
Peter Clark - Stifel
Andreas Heine - Stifel, Nicolaus & Company
Presentation
Stefanie Wettberg
Good morning, ladies and gentlemen. On behalf of BASF, I would like to welcome you to our conference call on the First Quarter 2024 Results. Throughout today's recorded presentation, all participants will be in listen-only mode. The presentation will be followed by a question-and-answer session. [Operator Instructions].
This presentation contains forward-looking statements. These statements are based on current estimates and projections of the Board of Executive Directors and currently available information. Forward-looking statements are not guarantees of the future developments and results outlined therein. These are dependent on a number of factors. They involve various risks and uncertainties, and they are based on assumptions that may not prove to be actual. Such risk factors include those discussed in opportunities and risks of the BASF report 2023. BASF does not assume any obligation to update these forward-looking statements contained in this presentation above and beyond the legal requirements.
With me on this early morning call today are Martin Brudermuller, Chairman of the Board of Executive Directors; and Dirk Elvermann, Chief Financial Officer. Please be aware that we have already posted the speech on our website at basf.com/Q12024.
Now I would like to hand over to Martin Brudermuller.
Martin Brudermuller
Good morning, ladies and gentlemen. Dirk Elvermann and I welcome you to our analyst conference call. Today, we will provide you with details regarding our business development in the first quarter of 2024.
Let's start with the development of chemical production by region. Based on the currently available data, global chemical production grew by 5.4% in Q1 2024 compared with the prior year quarter on account of a strong growth in China. As in previous quarters, the growth in China was driven by recovering domestic demand and exports. However, this volume growth in China was still associated with low sales prices and is influenced by positive base effects. ...
BASF SE (BASFY) Q1 2024 Earnings Call Transcript