LUDWIGSHAFEN (dpa-AFX) - 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.
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