BASF Group H1 2021 (XLSX:) XLS Q2 H1 2021 2020 +/– 2021 2020 +/– Sales Million € 19,753 12,680 56% 39,153 29,433 33% Income from operations before depreciation, amortization and special items Million € 3,217 1,229 162% 6,398 3,808 68% Income from operations before depreciation and amortization (EBITDA) Million € 3,199 1,070 199% 6,375 3,498 82% EBITDA margin % 16.2 8.4 − 16.3 11.9 − Depreciation and amortizationa Million € 883 1,011 –13% 1,748 1,983 –12% Income from operations (EBIT) Million € 2,316 59 . 4,627 1,515 205% Special items Million € –39 –167 77% –49 –351 86% EBIT before special items Million € 2,355 226 . 4,676 1,866 151% Income before income taxes Million € 2,189 –923 . 4,436 277 . Income after taxes from continuing operations Million € 1,794 –888 . 3,604 –7 . Income after taxes from discontinued operations Million € − 14 − − 36 − Net income Million € 1,654 –878 . 3,372 7 . Earnings per share € 1.80 –0.96 . 3.67 0.01 . Adjusted earnings per share € 2.03 0.25 . 4.03 1.51 167% Research and development expenses Million € 545 480 14% 1,056 974 8% Personnel expenses Million € 2,924 2,679 9% 5,871 5,505 7% Employees (June 30) 107,646 117,563 –8% 107,646 117,563 –8% Assets (June 30) Million € 82,938 90,369 –8% 82,938 90,369 –8% Investments including acquisitionsb Million € 831 654 27% 1,376 2,790 –51% Equity ratio (June 30) % 45.9 42.5 − 45.9 42.5 − Net debt (June 30) Million € 16,241 20,519 –21% 16,241 20,519 –21% Cash flows from operating activities Million € 2,537 2,242 13% 2,012 1,212 66% Free cash flow Million € 1,770 1,516 17% 789 –83 . a Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments) b Additions to property, plant and equipment and intangible assets next