BASFY - BASF SE (BASFY) Q4 2023 Earnings Call Transcript
2024-02-23 08:33:11 ET
BASF SE (BASFY)
Q4 2023 Earnings Conference Call
February 22, 2024 04:30 ET
Company Participants
Stefanie Wettberg - Investor Relations
Martin Brudermuller - Chairman
Dirk Elvermann - Chief Financial Officer
Conference Call Participants
Sam Perry - UBS
Christian Faitz - Kepler Cheuvreux
Matthew Yates - Bank of America
Chetan Udeshi - JPMorgan
Chris Counihan - Jefferies
Martin Evans - HSBC
Jaideep Pandya - On Field Research
Peter Clark - Société Générale
Andreas Heine - Stifel
Oliver Schwarz - Warburg
Sebastian Bray - Berenberg
Alex Stewart - Barclays
Presentation
Stefanie Wettberg
Good morning, ladies and gentlemen. Welcome to BASF’s Conference Call on the Fourth Quarter and Full Year 2023 Results. Today’s presentation is being recorded. [Operator Instructions] Today’s 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 accurate. Such risk factors include those – particularly those discussed in opportunities and risks of the BASF report 2023. BASF does not assume any obligation to update the forward-looking statements above and beyond the legal requirements.
With this, let us move on. With me on the call today are Martin Brudermuller, Chairman of the Board of Executive Directors; and Dirk Elvermann, Chief Financial Officer. Please be aware that we have just posted the speech on our website at basf.com/fullyear2023. And now, I would like to hand over to Martin Brudermuller.
Martin Brudermuller
Good morning, ladies and gentlemen. Dear gentlemen, I would like to welcome you to our analyst conference call. On January 19, BASF released preliminary figures for the full year of 2023. Today, we will provide you with further details.
Let’s start with the development of chemical production by region. The orange bar in the middle shows the growth for the full year 2023. Based on the available data, global chemical production grew by 1.7% in 2023 on account of growth in China. In 2023, chemical production in China increased considerably compared with the COVID-related low baseline of the prior year. The development there was driven by recovering domestic demand and exports, but was associated with low sales prices. All other regions recorded a decline....
BASF SE (BASFY) Q4 2023 Earnings Call Transcript