BASF has presented the economic results of its 2024 fiscal year in Spain. The Group's sales figure in the country amounted to 1.426 billion euros, representing a 5% growth compared to the 2023 fiscal year. The increase is the result of significant volume growth (+9%), which offset the price decline (-4%). The results are in line with the figures from the Spanish chemical sector; Feique has estimated a 4.8% growth in turnover, thanks to the recovery of demand following the adjustment experienced in 2023. Carles Navarro, General Director of the Group in Spain: “the 2024 fiscal year in the country has closed with good sales growth figures thanks to the reactivation of demand, as seen in the increase in volumes despite the burden of prices, although in this regard we have observed a change in trend in the second half of the year. The development of activities in the country, above the general trend of our organization, shows our competitiveness and robust health”.
BASF plans to invest 54 million euros in Spain in 2025. This represents a 14% increase over the final investment of 2024, which was ultimately set at 48 million euros (forecast: 40 million euros), with the production center in Tarragona, maintenance, and optimization of its infrastructure as the main asset.
For Navarro, 2024 has been a turning point, which in addition to the financial results, has meant the presentation of the new corporate strategy, unveiled last September: “with ‘Winning Ways‘, based on four strategic pillars, Focus, Accelerate, Transform, and Win, we are focused on our ambition: to be the preferred chemical company to enable our customers' green transition, and we work daily towards that. In this sense, BASF is redefining its approach to portfolio management. The company now differentiates between "core" or base businesses (Chemical Products, Materials, Industrial Solutions, and Nutrition and Care). The "standalone" or independent businesses serve specific industries (Environmental Catalysts and metal solutions, Battery Materials, Coatings, Agricultural Solutions). BASF's standalone businesses serve different industries and compete with their peers. BASF will now provide them with more strategic and operational flexibility to respond to the specific requirements of the markets in which they operate.
Being the preferred partner for customers in their green transformation: a holistic vision and a long-term commitment
"Being the preferred partner in our customers' green transformation requires a shared vision, based on innovation, trust, a spirit of continuous improvement, and long-term commitment", explains Daniel Campo, Commercial Director of BASF Española. In this regard, since 2019, Inditex and BASF have consolidated a strategic alliance focused on innovation and circularity in the textile industry. One of the first milestones of this collaboration was the development of polyamides produced from biomass or recycled from waste such as tires. In 2022, Oysho incorporated CCycled Ultramid®, while in 2023 Zara used BMB Ultramid® in its collections.
The collaboration between Inditex and BASF has also driven advances in reducing the environmental impact of washing processes. In 2022, ‘The Laundry’ by Zara Home, developed jointly, became the first detergent capable of reducing the release of microfibers by up to 80%, in addition to allowing low-temperature washes to reduce energy consumption. In 2023, Inditex expanded this innovation with ‘The Laundry by Inditex’ and took its patent to markets such as the U.S., Canada, and Brazil. Additionally, both companies collaborated in the development of SOKALAN HP 56 A, a pioneering polymer and solution for cold industrial washing that optimizes dyeing by exhaustion, achieving a significant reduction in water and energy consumption. “For BASF, it is a privilege to collaborate with strategic partners like Inditex, who share our commitment to innovation and sustainability, and to be able to offer them solutions, or develop them jointly, to minimize impact,” concludes Campo.
Digital hub Madrid: a team of over 700 employed
The team at BASF's Digital Hub Madrid, established in 2019, exceeds 700 employees, with an annual hiring average of over 100 people, more than 50 nationalities, and a female quota of 24%. Evidence of its continued growth is the 90 open positions currently available. With over 150 IT projects and products, this center is dedicated to developing and implementing innovative digital solutions for various areas of the BASF Group, including business, services, production, research and development, artificial intelligence, and cybersecurity.
“BASF continues to focus on Spain as a global hub to drive the company's digital transformation, maintaining its strong commitment to innovation and sustainability”, explains Thomas Kirchhoff, Co-Managing Director of BASF Digital Solutions S.L.
Examples of this work include MyCarbonFootprint is an application created for customers, visualizing the Product Carbon Footprint (PCF) of purchases, allowing users to make smart adjustments and optimize their portfolio by offering effective alternatives to reduce CO2 emissions and instantly see the impact on their sustainability profile.
Since late 2023 and given the growth, the hub has moved to a new headquarters in the business area of Manoteras, north of Madrid. This change reflects BASF's commitment to providing a modern and collaborative work environment, aligned with its vision for the future of work