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BASFLudwigshafen, Germany
"I am proud of the BASF team that has again put
all its energies into continuing the success story
of BASF – The Chemical Company."
Dr. Jürgen Hambrecht (Excerpt from the Chairman's Letter) Report FactsCompany name: BASF SEFiscal year end: December 31, 2007 Report title: Shaping the future Chairman of the Board: Dr. Jürgen Hambrecht Number of books: 1 Report length: 220 pages Auditors: KPMG Deutsche Treuhand Design: Strichpunkt E-mail: medien-service@basf.com |
Report rating (Rating scale below)(4/5)
Profile-Mission(Excerpts, as from the report)BASF is the world's leading chemical company. We are starting 2008 with new structures. We have reorganized our segments These are Chemicals, Plastics, Performance Products, Functional & Agricultural Solutions,Oil & Gas. (ifc, p 1, p 12) (Italics are own company's words)Key FiguresSales: € 57,951 millionEBIT: € 7,316 million Net profit: € 4,065 million Earnings per share: € 8.32 Dividend per share: € 3.90 Return on equity: 22.4% Return on assets: 16.4% Equity ratio: 42.9% Employees: 95,175 (Source: figures sourced from the annual report) Some Competitors
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Very good> In spite of its volume (220 pages), this is a well-managed reporting exercise. How? Thanks to a number of reading facilities and facilitators: covers; use of header; footer used for background information, charts, tables; clear tables; glossary; index. Not that many annuals strike a good balance: between length, volume and reader-friendliness; between quantity of information and quality of communication. This one does.> Economic, industry and customer trends set up the scene and give an insight into growth drivers. > Crystal-clear performance and liquidity analysis, as well as segment reviews (including brief summaries and factors influencing sales). > Effects of changes in the consolidation scope and of acquisitions described with transparency. |
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Good> DIY chart or table comparisons made possible on the IR website, which also contains other extra functionalities and adds real value to the printed version (see Selected Page below).> Maximized use of all covers -and flaps- especially the inside ones: key figures, segment key data, calendar, contact. Still, the report ending sequence (made of a Ten-year Summary) could be more communicative. > New employees featured from the cover on, also in a group photo where they make their way with board members. > Comprehensive historical figures, also for share data. > Group outlook and opportunities, with planned capital expenditures by segment and region. |
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Buts> Even managed with such Deutsche efficiency, 220 pages of quite thick paper spirally bound make it heavy.> Two Economic Goals versus almost 20 other ones. Responsible? Or just overplaying “sustainability” to the detriment of core business and financial objectives? These ones just consisting of EBIT and Dividend. |
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Green?> Our goals set forth more non-economic and financial targets than energy, emissions, safety, employee ones.> The company states that the report combines the financial and sustainability report in one publication (p 4). There are certainly a few worthwhile indicators and some initiatives, but responsibility-related matters are far from what should be expected –and reported- from a large chemical company. |
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How does the company report in key areas? What are the main report pluses and minuses?
The Report Scan gives an overview of strengths and weaknesses, and scores each item.
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Selected Page(online version of p 53 of BASF Annual Report 2007)
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