BASF SE (PNK:BASFY) Q3 2023 Earnings Call Transcript

And I think one element is clearly also we have now to fill our capacities, again and how fast Europe will come back, which is certainly the most challenged one in terms of competitiveness. This is also foreseen and this is why we said the €3 billion, I think we have clearly the intention to take out in the next years because that is also the years that are still challenging with the — finalizing the Zhanjiang site. So I don’t talk about the end of the period, but really on one that contributes to BASF performance in 2024 and 2025. So, I think I’ll leave it with that because I think further, I cannot go.

Laurent Favre: Thank you.

Stefanie Wettberg: We have one more financial analysts on the line. That is Peter Clark from Societe Generale. So, your final question.

Peter Clark: Yes. Thank you. Can I follow on that, Martin? I know you’re giving us a profile again next February. But I’m righting thinking, obviously, with the China plant, even if it’s coming in a bit light against some expectations next year is the big year for CapEx spend in terms of this profile. So, 2024 is still the bigger year of CapEx spend when we look at the 2023-2028 timeframe? Thank you.

Martin Brudermüller: I didn’t clearly say yes, that is absolutely the case, like you said it.

Peter Clark: Thank you.

Stefanie Wettberg: Ladies and gentlemen, we are now at the end of today’s call. Let me take this opportunity to draw your attention to an event we will host in Ludwigshafen on Thursday, December 7, the BASF Investor Update with our CEO and CFO, will begin at 2:00 P.M. CET and at 6 P.M. participating analysts and investors will be invited for dinner with further Board members. Taking 2018 as a starting point, Martin Brudermüller and Dirk Elvermann will provide an overview of what strategic measures have been implemented to-date and what action items are in the pipeline. Among other topics, Martin Brudermüller will give an update on BASF’s carbon management program. Should you have any further questions today, please do not hesitate to contact a member of the BASF IR team. Thank you very much for joining us today and good bye for now.