LUDWIGSHAFEN, Germany – The Chairman of BASF’s Board of Executive Directors Dr. Kurt Bock, Vice Chairman Dr. Martin Brudermüller and CFO Dr. Hans-Ulrich Engel outlined how BASF plans to strengthen its position as a leading chemical company.
The company has set ambitious goals. BASF forecasts that global chemical production will grow faster than global gross domestic product (GDP) through 2020. In this period, the company expects the global economy to grow by an average of three percent per year, and thus slightly faster than in the past 10 years, while chemical production is forecast to grow on average by four percent per year. BASF continues to aim to grow two percentage points above chemical production and thus increase sales by an average of six percent per year until 2020. Overall, BASF targets sales of approximately EUR 115 billion and seeks to further increase profitability to achieve an EBITDA of EUR 23 billion in 2020.