Markus Kamieth on BASG first quarter results
BASF
[{'start': '0.000', 'end': '2.160', 'text': 'This week will be my first Annual'}, {'start': '2.160', 'end': '4.799', 'text': 'Shareholders’ Meeting as CEO of BASF.'}, {'start': '5.280', 'end': '7.639', 'text': 'So naturally I’m very excited about it.'}, {'start': '7.639', 'end': '9.880', 'text': 'I’m excited to interact with our'}, {'start': '9.880', 'end': '10.759', 'text': 'shareholders.'}, {'start': '10.759', 'end': '12.480', 'text': 'I’m going to take a look'}, {'start': '12.480', 'end': '14.839', 'text': 'back at the year 2024.'}, {'start': '14.839', 'end': '16.359', 'text': 'And I’m going to share with the audience'}, {'start': '16.679', 'end': '18.199', 'text': 'what this chair has to do'}, {'start': '18.199', 'end': '19.239', 'text': 'with our green transformation.'}, {'start': '33.000', 'end': '34.079', 'text': 'Well, the last weeks have been'}, {'start': '34.079', 'end': '35.799', 'text': 'very rocky, to say the least.'}, {'start': '36.320', 'end': '37.079', 'text': 'The market environment'}, {'start': '37.079', 'end': '38.840', 'text': 'has been very unpredictable.'}, {'start': '39.479', 'end': '41.600', 'text': 'This is why it’s so important to focus on'}, {'start': '41.600', 'end': '42.439', 'text': 'what we can influence.'}, {'start': '43.439', 'end': '44.280', 'text': 'Our local for local'}, {'start': '44.280', 'end': '46.359', 'text': 'strategy makes us very resilient.'}, {'start': '46.640', 'end': '48.840', 'text': 'We produce more than 80% of what we sell'}, {'start': '48.840', 'end': '50.640', 'text': 'in the US locally.'}, {'start': '51.119', 'end': '53.119', 'text': 'And we have the same high shares'}, {'start': '53.119', 'end': '54.920', 'text': 'in Europe and in Asia.'}, {'start': '55.240', 'end': '57.359', 'text': 'Now it’s not clear how the tariffs'}, {'start': '57.359', 'end': '58.679', 'text': 'situation will evolve.'}, {'start': '58.679', 'end': '60.640', 'text': 'This is why we are working in'}, {'start': '60.640', 'end': '61.640', 'text': 'various scenarios.'}, {'start': '62.159', 'end': '64.120', 'text': 'But one thing is also clear: The market'}, {'start': '64.120', 'end': '66.120', 'text': 'environment will stay very challenging'}, {'start': '66.120', 'end': '67.640', 'text': 'throughout the year 2025.'}, {'start': '68.359', 'end': '71.000', 'text': 'This is why it’s important for us to act'}, {'start': '71.000', 'end': '73.079', 'text': 'prudently and stay positive.'}, {'start': '73.319', 'end': '74.799', 'text': 'It’s all about the right mindset.'}, {'start': '77.799', 'end': '80.200', 'text': 'In the first quarter of 2025, the EBITDA'}, {'start': '80.200', 'end': '82.920', 'text': 'before special items for the BASF Group almost'}, {'start': '82.920', 'end': '84.159', 'text': 'reached prior-year level.'}, {'start': '84.680', 'end': '86.439', 'text': 'Which is in this very difficult market'}, {'start': '86.439', 'end': '88.359', 'text': 'environment a very decent result.'}, {'start': '88.879', 'end': '90.920', 'text': 'With this result, we also came in right at'}, {'start': '90.920', 'end': '92.120', 'text': 'analysts’ expectations.'}, {'start': '93.040', 'end': '94.799', 'text': 'Given the unpredictability of the'}, {'start': '94.799', 'end': '96.640', 'text': 'overall global market situation,'}, {'start': '97.280', 'end': '98.959', 'text': 'we have not changed our'}, {'start': '98.959', 'end': '102.040', 'text': 'current forecast for the year 2025.'}, {'start': '104.079', 'end': '105.719', 'text': 'Our ambition is to be the preferred'}, {'start': '105.719', 'end': '108.000', 'text': 'chemical company to enable the green'}, {'start': '108.000', 'end': '109.680', 'text': 'transformation of our customers.'}, {'start': '110.040', 'end': '112.040', 'text': 'And the chair that I showed you earlier'}, {'start': '112.040', 'end': '114.879', 'text': 'is a great example of a collaboration'}, {'start': '114.879', 'end': '117.040', 'text': 'between the furniture manufacturer'}, {'start': '117.040', 'end': '119.560', 'text': 'Vitra and BASF that does exactly this.'}, {'start': '119.760', 'end': '123.280', 'text': 'By developing a new and revolutionary'}, {'start': '123.280', 'end': '125.359', 'text': 'polyurethane foam that can be'}, {'start': '125.359', 'end': '127.840', 'text': 'recycled at consistent quality.'}, {'start': '128.199', 'end': '130.479', 'text': 'Less CO2, more sustainability,'}, {'start': '130.479', 'end': '131.800', 'text': 'more circularity. And we'}, {'start': '131.800', 'end': '133.560', 'text': 'thrive to: Make it count!'}]