BASF SE : Berenberg sticks Neutral

BASF SE is No. 1 worldwide in the chemical industry. Net sales break down by family of products as follows: - functional products (45.5%): catalysts (42.9% of net sales), monomers (24.9%), performance materials (21.6%), and coatings (10.6%); - high-performance materials (20.7%): dispersions and pigments (33.3% of net sales), care chemicals (31.1%), performance chemicals (22%) and nutrition products (13.6%); - chemicals (17%): petrochemicals (70.8% of net sales), and intermediate products (29.2%); - agrochemicals (11.8%); - other (5%). Net sales are distributed geographically as follows: Germany (10.3%), Europe (28.5%), North America (27.4%), Asia/Pacific (25%) and South America/Africa/Middle East (8.8%).