logo
Plus   Neg
Share
Email

BASF Agricultural Solutions To Boost Sales By 50% By 2030 - Quick Facts

BASF SE (BFA.L,BASFY.PK) announced Friday that its Agricultural Solutions business is targeting increased market share and growth of one percentage point above the agricultural market.

By 2030, the division aims for a 50 percent increase in sales. It will contribute significantly to BASF Group's target of EUR 22 billion in sales by 2025 with Accelerator products that make a substantial sustainability contribution in the value chain.

EBITDA before special items of BASF Agricultural Solutions is targeted to grow by on average 5 percent per year.

By 2028, BASF will launch over 30 new products with peak sales potential of more than EUR 6 billion. This includes eight active ingredients, as well as unique traits and high-performing seeds in hybrid wheat, soybean, canola, cotton and vegetables.

BASF will also create new revenue streams from digital solutions in agriculture.

In the first half of 2019, the Agricultural Solutions division increased sales compared with the prior-year period by 38 percent to EUR 4.4 billion, driven by portfolio effects from the acquisition of businesses and assets from Bayer in August 2018.

EBIT before special items of Agricultural Solutions rose by 23 percent to EUR 861 million in the first half of 2019, mainly due to the contribution of the acquired businesses.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Hongkong Sun Rise Trading Ltd. has recalled about 151,400 units of Kobalt Cordless Electric chainsaws and about 106,520 units of Kobalt Cordless Electric pole saws for possible laceration hazard, according to two separate statements issued by the U.S. Consumer Product Safety Commission. These include 1,400 chainsaws and 120 pole saws sold in Canada. Branded food company Hormel Foods Corp. (HRL) announced Friday that its Hormel Black Label Breakfast Food Truck will hit the road with free sample event of the popular brand's new Hormel Black Label Oven-Baked Egg Bites. The samples come in three variants - with Bacon, with Chorizo and with Bacon and... United Airlines has rolled out an interactive online "Map Search" feature for its customers in collaboration with search giant Google. The new feature is powered by Google Flight Search Enterprise Technology. United is claimed to be the first airline in the U.S. to add this feature. The new feature, available on United.com, allows customers to easily search, compare and purchase flight tickets.
RELATED NEWS
Follow RTT