BASF : in Korea 2023

BASF in Korea

Report 2023

BASF Group 2023 at a glance

20

23

BASF Group

At a glance

SalesEBIT before special itemsROCE

€68.9 billion			€3.8 billion	4.5%
(2022: €87.3 billion)			(2022: €6.9 billion)	(2022: 10.0%)
Greenhouse gas emissions		EBITDA before special items		Free cash flow
(million metric tons of CO2 equivalents)
40.1					€7.7 billion		€2.7 billion
					(2022: €10.8 billion)		(2022: €3.3 billion)
	21.9	18.4					Employees
		16.9
				Capital expenditures (capex)		at year-end
					€5.2 billion	111,991
1990	2018	2022	2023		(2022: €4.1 billion)	(2022: 111,481)
					Research and development expenses		Personnel expenses
					€2.1 billion		€11.0 billion
					(2022: €2.3 billion)		(2022: €11.4 billion)

Segment data

Chemicals						Million €
Sales	2023	10,369
	2022	14,895
EBIT before special items	2023	361
	2022	1,956
Materials						Million €
Sales	2023	14,149
	2022	18,443
EBIT before special items	2023	826
	2022	1,840
Industrial Solutions						Million €
Sales	2023	8,010
	2022	9,992
EBIT before special items	2023	625
	2022	1,091

Surface Technologies			Million €
Sales	2023	16,204
				2022	21,283
EBIT before special items	2023	938
				2022	902
Nutrition & Care			Million €
Sales	2023	6,858
				2022	8,066
EBIT before special items	2023	107
				2022	618
Agricultural Solutions			Million €
Sales	2023	10,092
				2022	10,280
EBIT before special items	2023	1,563
				2022	1,220

BASF in Korea Report 2023 / 2

BASF in Korea

BASF in Korea

At a glance

Since 1954, when BASF entered the Korean market, the global chemical company has dominated the domestic chemical industry as a leading foreign-invested company. BASF operates eight world-class manufacturing facilities in Korea, as well as the Asia Pacific Electronic Materials Business Headquarters and Asia Pacific Electronic Materials Research and Development Center in Suwon. The company also operates an R&D center for high-tech material solutions and two technology research centers in Korea. Total sales to Korean customers amounted to approximately €1.3 billion in 2023, and the company employed 1,209 people in Korea as of the end of that year.

Business locations and manufacturing facilities in Korea

In 2023, BASF in Korea continued its efforts to achieve the Group's goal of becoming net-zero by 2050 while supporting the sustainability goals of its customers. To this end, BASF in Korea signed a power purchase agreement with SK E&S to increase the use of renewable energy at production sites in Korea and transition to greener proces- ses. Furthermore, Onsan and Yeosu sites became the first in the Asia-Pacific monomers business to receive ISCC+ certification (In- ternational Sustainability & Carbon Certification), which allows us to offer our customers Biomass Balance(BMB) and ChemCycling® products with the same performance but a lower carbon footprint. By prioritizing environmental and social responsibility as well as economic success, BASF in Korea is driving sustainable change with innovative solutions.

(As of the end of 2023)

Business development

Sub-regional headquarters

Selected sites

R&D/Technical centers

BASF in Korea

Sales in 2023 (by location of customer)

Employees (as of December 31, 2023)

€1,255 million 1,209

BASF in Korea Report 2023 / 3

Key data of BASF in Korea

Key data 2023

Employees and society

			2023	2022
Employees (as of December 31)
Employees BASF Group			111,991	111,481
Employees BASF in Korea			1,209	1,221
Up to and including 25 years	%		3.2	2.6
Between 26 and 39 years	%		36.9	34.4
Between 40 and 54 years	%		43.3	47.1
55 years and up	%		16.6	15.9
Gender
Women	%		17.5	16.0
Men	%		82.5	84.0

Environmental protection, health and safety

Energy
Electricity consumption	MWh	575,928	588,413*
Steam supply	MWh	1,825,366	1,874,959
Fuel consumption	MWh	847,313	878,876
Emissions to air
Greenhouse gas emissions	metric tons of CO2 equivalents	697,624	718,181*
Emissions of air pollutants (without CH4)	metric tons	691	716
Water
Emissions to water: organic substances (COD)	metric tons	220	194
Emissions to water: nitrogen	metric tons	45	53
Emissions to water: phosphorus	metric tons	4.6	6.9
Emissions to water: heavy metals	metric tons	0.18	0.12
Water supply	million cubic meters	7	7
Water used for production	million cubic meters	6	6
Water used for cooling	million cubic meters	309	311
Waste
Total waste generated	metric tons	40,946	38,834
Waste recovered	metric tons	23,176	21,843
Waste disposed of	metric tons	17,770	16,991
Occupational safety
High Severity Work Process Related Injury Rate (HSI)	per 200,000 working hours	0.12	-
(BASF employees, Agency Workers and Contractors)
Fatalities (total)		0	0
Process safety
High Severity Process Safety Incident Rate (hsPSIR)	per 200,000 working hours	0.00	-
(BASF employees, Agency Workers and Contractors)

• The comparative figure for 2022 has been adjusted to reflect updated data.

BASF in Korea Report 2023 / 4

Ten-Year-Summary of BASF Group

Ten-Year-Summary

Million €
	2014	2015	2016	2017	2018		2019	2020		2021		2022	2023
Statement of income
Sales		74,326		70,449		57,550		61,223a		60,220b		59,316		59,149	78,598	87,327	68,902
Income from operations (EBIT)		7,626		6,248		6,275		7,587a		5,974b		4,201		-191	7,677	6,548	2,240
Income before income taxes		7,203		5,548		5,395		6,882a		5,233b		3,302		-1,562	7,448	1,190	1,420
Income after taxes from continuing operations		-		-		-		5,592a		4,116b		2,546		-1,471	6,018	-391	379
Income after taxes from discontinued operations		-		-		-		760a		863b		5,945		396	-36	−		−
Income after taxes		5,492		4,301		4,255		6,352		4,979		8,491		-1,075		5,982		-391		379
Net income	5,155		3,987		4,056	6,078	4,707		8,421	-1,060		5,523		-627	225
Income from operations before depreciation,
amortization and special items	10,454		10,508		10,327		10,378a		9,721b	8,324	7,435	11,348	10,762	7,671
(EBITDA before special items)
EBIT before special items		7,357		6,739		6,309		7,645a		6,281b		4,643		3,560	7,768	6,878	3,806

Capital expenditures, depreciation and amortization

Additions to property, plant and equipment and intangible assets

of which property, plant and equipment

Depreciation and amortization of property, plant and equipment and intangible assets

of which property, plant and equipment

7,285	6,013	7,258	4,364	10,735		4,097	4,869	4,881		4,967	6,006
6,369	5,742	4,377	4,028	5,040		3,842	4,075	4,410		4,842	5,864
3,417	4,401	4,251	4,202	3,750		4,146	6,685	3,678		4,200	4,941
2,770	3,600	3,691	3,586	3,155		3,408	5,189	3,064		3,549	4,062

Number of employees			113,292			112,435		113,830	115,490	122,404		117,628		110,302		111,047		111,481	111,991
Personnel expenses			9,224			9,982		10,165	10,610	10,659		10,924		10,576		11,097		11,400	10,950
Research and development expenses			1,884			1,953		1,863		1,843a		1,994b	2,158	2,086	2,216	2,298	2,130
Key data
Earnings per share	€	5.61			4.34	4.42		6.62a	5.12		9.17	-1.15	6.01	-0.70	0.25
Adjusted earnings per share	€	5.44		5.00	4.83		6.44a	5.87		4.00	3.21	6.76	6.96	2.78
Cash flows from operating activities			6,958		9,446	7,717	8,785	7,939		7,474		5,413		7,245		7,709	8,111
EBITDA margin before special items	%		14.1			14.9		17.9		17.5a		15.4b	14.0	12.6	14.4	12.3	11.1
Return on assets	%		11.7		8.7	8.2		9.5a	7.1		4.5	-1.2	9.5	2.1	2.8
Return on equity after tax	%		19.7		14.4	13.3	18.9	14.1		21.6		-2.8		15.6		-0.9	1.0
Return on capital employed (ROCE)	%		-	-	-	15.4		12.0b	7.7	1.7	13.7	10.0	4.5
Appropriation of profits
Net income of BASF SEc			5,853		2,158	2,808	3,130	2,982		3,899		3,946	3,928	3,849	7,434
Dividend			2,572			2,664		2,755	2,847	2,939		3,031		3,031		3,072		3,035		3,035d
Dividend per share	€	2.80		2.90	3.00	3.10	3.20		3.30	3.30	3.40	3.40		3.40d
Number of shares at year-end	million	918.5		918.5	918.5	918.5	918.5		918.5	918.5	918.5	893.9	892.5

1. Figures for 2017 were restated with the presentation of the oil and gas activities as discontinued operations.
2. Figures for 2018 were restated with the presentation of the construction chemicals activities as discontinued operations.
3. Calculated in accordance with German GAAP
4. Based on the number of outstanding shares as of December 31, 2023 (892,522,164).

BASF in Korea Report 2023 / 5

Further information

Further information

Contact		Gunsan site
		57, Oehang 4-gil, Gunsan, Jeollabuk-do, 54008, Korea
Offices
	Phone : [phone], Fax : [phone]
BASF Company Ltd., Seoul Office
15-16F, KCCI Bldg., 39, Sejong-daero,Jung-gu, Seoul,		BASF Performance Polyamides Korea Co., Ltd. (Onsan)
04513, Korea		160, Gongdan-ro,Onsan-eup,Ulju-gun, Ulsan, 45010, Korea
Phone : [phone], Fax : [phone]		Phone : [phone], Fax : [phone]
Laboratories		Kolon BASF INNOPOM Inc., Gimcheon Site (Joint Venture)
BASF Electronic Materials R&D Center (Suwon)		64, Gongdan 3-gil,Gimcheon-si,Gyeongsangbuk-do, 39537, Korea
2F, Research Center No. 1, 2066, Seobu-ro,Jangan-gu, Suwon,		Phone : [phone], Fax : [phone]
Gyeonggi-do, 16419, Korea
Phone : [phone], Fax : [phone]
BASF Engineering Plastics Innovation Center Korea (Ansan)
EPIC Korea, 171, Sinwon-ro,Danwon-gu, Ansan, Gyeonggi-do,		Follow us
15423, Korea
	instagram.com/basf_kr
BASF Korea Technology Development Center (Dongtan)
39, Samsung 1-ro2-gil, Hwaseong, Gyeonggi-do, 18449, Korea
Phone : [phone], Fax : [phone]
CAE Technology Center (Ansan)		facebook.com/basf.korea
171, Sinwon-ro,Danwon-gu, Ansan, Gyeonggi-do, 15423, Korea
Phone : [phone], Fax : [phone]
Production sites		linkedin.com/company/basf
Yeosu site
284, Yeosusandan 2-ro, Yeosu, Jeollanam-do, 59610, Korea
Phone : [phone], Fax : [phone]
		youtube.com/BASF
Ulsan chemicals site
27, Sinyeocheon-ro,Nam-gu, Ulsan, 44781, Korea
Phone : [phone], Fax : [phone]
		twitter.com/BASF
Ulsan plastics site
143, Sanggae-ro,Nam-gu, Ulsan, 44787, Korea
Phone : [phone], Fax : [phone]
Ansan site
171, Sinwon-ro,Danwon-gu, Ansan, Gyeonggi-do, 15423, Korea
Phone : [phone], Fax : [phone]
Yesan site
25, Sandan 1-gil,Sapgyo-eup,Yesan-gun,Chungcheongnam-do,
32415, Korea
Phone : [phone], Fax : [phone]

BASF in Korea Report 2023 / 6

Further information	Contact
You can find this publication on the internet	Publisher:
at basf.com/kr	Corporate Affairs Korea, BASF
	HoWon Chung
	Phone: [phone]

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