BASF Report 2021 Management’s Report – Regional Results 94 Regional Results Regions mainly in the Surface Technologies segment. Sales performance primarily driven by growth in Greater China, where sales rose by Million € was also weighed down by portfolio effects, particularly in the Indus- 42.5% in euros to €12,018 million. All segments improved sales in Sales Sales trial Solutions segment following the divestiture of the global pig- the region compared with the prior year, but especially the Surface by location of company by location of customer 2021 2020 +/– 2021 2020 +/– ments business. Technologies, Materials and Chemicals segments. Europe 31,594 24,223 30.4% 30,531 23,129 32.0% The sales performance was primarily the result of higher prices, North America 21,935 16,440 33.4% 20,867 15,709 32.8% North America particularly in the Surface Technologies, Chemicals and Materials Asia Pacific 20,632 14,895 38.5% 21,234 15,406 37.8% segments. Higher volumes in all segments contributed to the of which Greater China 12,018 8,433 42.5% 12,036 8,463 42.2% Sales at companies located in North America rose by 33.4% to increase in sales. Raw material shortages, the semiconductor deficit South America, Africa, €21,935 million in 2021. In local currency terms, they were 38.5% in the automotive market and the associated production and supply Middle East 4,437 3,591 23.5% 5,965 4,905 21.6% above the prior-year figure. Sales growth was mainly driven by con- chain disruptions also hampered sales performance in Asia Pacific. BASF Group 78,598 59,149 32.9% 78,598 59,149 32.9% siderably higher sales in the Surface Technologies and Chemicals Overall, portfolio measures had a positive impact on sales develop- segments. The Materials segment, Other and the Industrial Solu- ment, especially in Greater China and in the Surface Technologies tions segment also achieved considerably higher sales. Sales rose segment following the formation of BASF Shanshan Battery Mate- slightly in the Agricultural Solutions and Nutrition & Care segments. rials Co., Ltd. Europe Sales growth was mainly due to significantly higher price levels, Sales at companies located in Europe rose by 30.4% year on year especially in the Surface Technologies segment due to a significant South America, Africa, Middle East to €31,594 million. This was primarily due to considerably higher increase in precious metal prices, and in the Chemicals segment, sales in the Chemicals and Materials segments. The Surface Tech- particularly for propylene and butadiene. Higher volumes supported Sales at companies located in South America, Africa, Middle East nologies segment, Other and the Industrial Solutions and Nutrition & sales performance in all segments. Volume development was how- rose by 23.5% to €4,437 million. In local currency terms, they were Care segments also posted considerable sales growth, while the ever negatively impacted by extreme weather conditions, the semi- 31.0% above the prior-year level. Sales growth was primarily attri- Agricultural Solutions segment saw a slight increase in sales. conductor shortage in the automotive market and the resulting but able to considerably higher sales in the Agricultural Solutions, production and supply chain disruptions. Negative currency effects Surface Technologies, Chemicals and Materials segments. The Sales growth was driven by higher prices and volumes in all had an offsetting effect. Sales were reduced by portfolio effects, Indus trial Solutions and Nutrition & Care segments also recorded segments and in Other. Prices rose especially for steam cracker mainly driven by the divestiture of the global pigments business in higher sales. products in the Chemicals segment, for isocyanates in the Materials the Industrial Solutions segment. segment, and as a result of higher precious metal prices in the The sales increase was mainly driven by higher prices, especially Surface Technologies segment. Sales volumes increased, especially in the Surface Technologies, Agricultural Solutions and Chemicals in the Materials, Surface Technologies, Industrial Solutions and Asia Pacific segments. All segments significantly increased volumes despite Chemi cals segments. Volume development was however negatively supply chain disruptions caused by raw materials shortages. Nega- impacted by raw materials shortages, the semiconductor deficit Sales at companies headquartered in the Asia Pacific region were tive currency effects had an offsetting impact in all segments. in the automotive market and the associated production and supply 38.5% above the 2020 figure, at €20,632 million. In local currency chain disruptions. Sales were reduced by negative currency effects, terms, sales likewise rose by 38.5%. The increase in sales was