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BASF gains momentum

The chemicals group reports higher sales and EBITDA, supported by cost reductions and improved plant utilisation.

July 29, 2026 15:12

basf ludwigshafen BASF has reported its results for the second quarter and the first six months of the year.

At group level, sales increased by €1.9 billion in the first half of 2026 to €33.2 billion, driven by higher volumes, up 5.7%, and prices, up 4.8%, while currency effects had a negative impact.

EBITDA before special items also improved, rising by €715 million to €4.8 billion. The increase was mainly attributable to higher earnings in the Materials, Industrial Solutions, Chemicals and Surface Technologies segments.
Over the same period, EBITDA rose to €4.2 billion, from €3.4 billion in the first half of the previous year.

Commenting on the Winning Ways strategy, BASF CEO Markus Kamieth said he was satisfied with the progress achieved so far: “We are making very good progress: we have reduced costs, contained capital expenditure and increased plant utilization rates. The Zhanjiang team successfully started up the new Verbund site, while the divestment of our Coatings business represents a significant step forward in our portfolio optimization measures aimed at creating value.”

Addressing the group’s restructuring, Kamieth said BASF had reduced its global workforce by around 7,000 employees since the beginning of 2024. This figure does not include reductions resulting from divestitures or the increase in headcount associated with the Zhanjiang Verbund site. In the first half of 2026 alone, the workforce was reduced by approximately 3,500 employees.

“In May 2026, the number of full-time-equivalent positions at the Ludwigshafen site fell below 30,000 for the first time since 1954,” the BASF CEO explained. “This is an important and necessary step toward restoring the site’s competitiveness.”

The company also made progress in restructuring its assets at Ludwigshafen. “Since 2024, the share of highly competitive production units at the site has increased from 78% to 88%,” Kamieth concluded. “At the same time, plant utilization rates have improved despite supply disruptions caused by the conflict in the Middle East.