6-K UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
March 8, 2005
BASF AKTIENGESELLSCHAFT
(Exact name of Registrant as Specified in its Charter)
BASF CORPORATION
(Translation of Registrant's name into English)
Carl Bosch Strasse 38, LUDWIGSHAFEN, GERMANY 67056
(Address of Principal Executive Offices)
Indicate by check mark whether the Registrant files or will file annual
reports under cover Form 20-F or Form 40-F
Form 20-F X Form 40-F
Indicate by check mark whether the Registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes No X
If "Yes" is marked, indicate below the file number assigned to the
Registrant in connection with Rule 12g3-2(b): 82- .
BASF in Best Form
LUDWIGSHAFEN, Germany--(BUSINESS WIRE)--March 9, 2005--BASF
(NYSE:BF) (FWB:BAS) (LSE:BFA):
-- 2004 sales climb 13 percent to EUR 37.5 billion
-- EBIT before special items improves by 64 percent to
EUR 4.9 billion
-- Premium of EUR 1.8 billion earned on cost of capital
-- Dividend to be increased to EUR 1.70 per share
-- Outlook 2005: Slightly higher sales and EBIT before special
items that follows on from strong 2004 level
BASF - The Chemical Company - announced its financial results for
2004 at its Annual Press Conference today (March 9, 2005) in
Ludwigshafen. The company presented hard facts that showed how it
successfully achieved its challenging goals in 2004. "The entire BASF
team put in a top performance. And we again demonstrated that we
create value for all our stakeholders," said Dr. Juergen Hambrecht,
Chairman of the Board of Executive Directors of BASF
Aktiengesellschaft.
For the first time for several years BASF again earned its cost of
capital - plus a considerable premium of EUR 1.8 billion. For a
growing number of products it was possible to pass on price increases
to the market that were necessary due to significantly higher raw
materials prices.
In a competitive market environment, BASF increased sales overall
by 13 percent to EUR 37.5 billion. Income from operations (EBIT)
before special items rose significantly by 64 percent to EUR 4.9
billion. Sales and earnings increased in all segments. Earnings were
positive in all divisions. The performance of the Chemicals segment
was particularly strong, with sales rising by 22 percent and EBIT
before special items by 167 percent.
In 2004, BASF also continued to implement restructuring measures
to improve its cost situation. All ongoing projects are proceeding
successfully, and the goal is to achieve annual cost savings of
approximately EUR 750 million by the end of 2006.
In 2004, BASF shares increased in value by 23 percent, and
performed significantly better than the EURO STOXXSM 50 index or
Germany's DAX 30 index. BASF's policy is to offer its shareholders an
appropriate share in the success of the company. The Board of
Executive Directors will therefore propose to the Annual Meeting that
the dividend for 2004 be increased by 30 euro cents to EUR 1.70 per
share; this corresponds to an increase of more than 20 percent.
Sales and earnings also increase in fourth quarter 2004
In the months October through December, demand for BASF's products
remained strong. Compared with the strong fourth quarter of 2003, the
company again increased sales in its Chemicals, Plastics, Performance
Products and Oil & Gas segments, in some cases significantly. In the
Agricultural Products & Nutrition segment, sales were almost at the
previous year's level. Overall, fourth-quarter sales rose slightly to
EUR 9.8 billion.
All segments posted significantly higher EBIT before special
items, which rose by EUR 814 million to EUR 1.5 billion in the fourth
quarter.
Outlook for full year 2005
After the strong upturn in 2004, Hambrecht continues to see
favorable mid-term prospects. "The precondition for this is that
political trouble spots do not flare up and that there is no sudden
downturn in the economic environment," he said.
Hambrecht continued: "Overall, we are confident when we look to
the coming months, and we are encouraged by the figures for January
and February. Under the preconditions I mentioned, we expect to
achieve slightly higher sales in 2005 and follow on from the high
level of EBIT before special items posted in 2004. We therefore again
expect to earn a premium on our cost of capital. We will continue to
implement measures to optimize our portfolio, increase efficiency and
reduce costs."
BASF is the world's leading chemical company: The Chemical
Company. Its portfolio ranges from chemicals, plastics, performance
products, agricultural products and fine chemicals to crude oil and
natural gas. As a reliable partner to virtually all industries, BASF's
intelligent solutions and high-value products help its customers to be
more successful. BASF develops new technologies and uses them to open
up additional market opportunities. It combines economic success with
environmental protection and social responsibility, thus contributing
to a better future. In 2004, BASF had approximately 82,000 employees
and posted sales of more than EUR 37 billion. BASF shares are traded
on the stock exchanges in Frankfurt (BAS), London (BFA), New York
(BF), Paris (BA) and Zurich (AN). Further information on BASF is
available on the Internet at www.basf.com.
Forward-looking statements
This release contains forward-looking statements under the U.S.
Private Securities Litigation Reform Act of 1995. These statements are
based on current expectations, estimates and projections of BASF
management and currently available information. They are not
guarantees of future performance, involve certain risks and
uncertainties that are difficult to predict and are based upon
assumptions as to future events that may not prove to be accurate.
Many factors could cause the actual results, performance or
achievements of BASF to be materially different from those that may be
expressed or implied by such statements. Such factors include those
discussed in BASF's Form 20-F filed with the Securities and Exchange
Commission. We do not assume any obligation to update the
forward-looking statements contained in this release.
You can receive further information on the internet at
www.basf.de/pressrelease
CONTACT: BASF
Michael Grabicki
Phone: +49 621 60-99938
Fax: +49 621 60-92693
michael.grabicki@basf-ag.de
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this Current Report to be signed on its behalf by
the undersigned, thereunto duly authorized.
BASF Aktiengesellschaft
Date: March 9, 2005 By: /s/ Elisabeth Schick
------------------------------------
Name: Elisabeth Schick
Title: Director Site Communications
Ludwigshafen and Europe
By: /s/ Christian Schubert
------------------------------------
Name: Christian Schubert
Title: Director Corporate Communications
BASF Group