Baywa Ag · XETR:BYW

Baywa — 9M 2013 Earnings Presentation

29 slides from Baywa's earnings presentation, Nov 7, 2013

  1. Slide 1: Interim Report as per 30 September 2013 Conference Call

    Interim Report as per 30 September 2013 Conference Call Munich, 7 November 2013 Klaus Josef Lutz, CEO Andreas Helber, CFO

  2. Slide 2: Agenda

    Agenda 1. Development of the Group 1-9/2013 2. Development of the Segments 1-9/2013 3. Outlook for FY 2013 4. BayWa Share BayWa AG 7 November 2013 Page 2

  3. Slide 3: Development of the Group 1-9/2013

    Development of the Group 1-9/2013 BayWa AG 7 November 2013 Page 3

  4. Slide 4: Highlights

    Development of the Group 1-9/2013 Highlights Highlights – Course of internationalisation secures an increase in revenues and profit – Revenues and EBIT reach new record highs – Acquisitions in the Agriculture Segment exceed expectations – Record grain harvest worldwide harbours high sales volume – S

  5. Slide 5: Revenues and EBIT as against previous year

    Development of the Group 1-9/2013 Revenues and EBIT as against previous year Revenues in EUR m +54.8% – EUR 12,157.9 m (Δ 12/13: EUR +4.305,0 m / +54.8%) 12,157.9 – Group revenues reach all-time high 7,852.9 – Strongest growth in agriculture segment – International affiliates drive growth 1-9 2012 1

  6. Slide 6: Multi-year comparison of EBIT

    Development of the Group 1-9/2013 Multi-year comparison of EBIT in EUR m 177.7 One-time +41.7% 43.9 income +6.7% +1.9% 125.4 123.1 Ø 116.7 +43.1% 86.0 71.4 +20.4% Operating 133.8 result 1-9 2009 1-9 2010 1-9 2011 1-9 2012 1-9 2013 BayWa AG 7 November 2013 Page 6

  7. Slide 7: Key Financials – Income Statement

    Development of the Group 1-9/2013 Key Financials – Income Statement in EUR m 1-9 2009 1-9 2010 1-9 2011 1-9 2012 1-9 2013 ∆12/13 (%) Revenues 5,604.4 5,855.4 7,042.9 7,852.9 12,157.9 54.8% EBITDA 141.8 157.7 195.0 212.6 263.3 23.8% % of Revenues 2.5% 2.7% 2.8% 2.7% 2.2% EBIT 71.4 86.0 123.1 125.4 17

  8. Slide 8: Key Financials – Cash Flow Statement

    Development of the Group 1-9/2013 Key Financials – Cash Flow Statement in EUR m 1-9 2009 1-9 2010 1-9 2011 1-9 2012 1-9 2013 ∆12/13 (%) Cash earnings 94.9 114.7 130.6 138.3 190.7 37.9% Cash flow from operating activities 23.1 47.9 81.4 180.3 167.5 -7.1% Cash flow from investing activities -55.1 -94.

  9. Slide 9: Key Financials – Balance Sheet

    Development of the Group 1-9/2013 Key Financials – Balance Sheet ‚Like for Like‘ in EUR m 1-9 2010 1-9 2011 1-9 2012 FY 2012 1-9 2013** 1-9 2013 ∆12/13 (%) Total assets 3,440.9 4,087.9 4,846.9 4,457.4 4,606.2 5,285.8 9.1% Equity 984.0 1,066.2 1,138.6 1,085.1 1,132.2 1,159.7 1.9% Equity ratio 28.6% 2

  10. Slide 10: Development of the Segments 1-9/2013

    Development of the Segments 1-9/2013 BayWa AG 7 November 2013 Page 10

  11. Slide 11: Agriculture Segment 1-9/2013

    Agriculture Segment 1-9/2013 Seed Fertiliser Crop protection Grain Feedstuff Agricultural equipment Fruit BayWa AG 7 November 2013 Page 11

  12. Slide 12: Agriculture Segment Market Developments

    Agriculture Segment 1-9/2013 Market Developments Market Trends World Grain Balance (October 2013) in million tons  Global grain harvest at record high (USDA: ca 2.43 bn. tons) Production Consumption  Grain volume of 47 m tons in Germany (previous year: 45.2 m tons)  Grain prices in Q3: recovery i

  13. Slide 13: Agriculture Segment Revenues and EBIT as against previous year

    Agriculture Segment 1-9/2013 Revenues and EBIT as against previous year BayWa Agricultural Trade Cefetra + Bohnhorst Agricultural Trade In EUR m In EUR m +7.6% 4,176.5 2,528.1 2,721.1 Revenues Revenues 0.0 -15.6% 50.6 42.7 23,4 EBIT EBIT 0.0 1-9 2012 1-9 2013 1-9 2012 1-9 2013  Revenues: ∆ 12/13 EU

  14. Slide 14: Agriculture Segment Revenues and EBIT as against previous year

    Agriculture Segment 1-9/2013 Revenues and EBIT as against previous year Agricultural Equipment Fruit In EUR m in EUR m +4.3% +28.5% 941.6 981.7 450.0 350.2 Revenues Revenues -2.4% +43.8% 16.6 16.2 21.0 14.6 EBIT EBIT 1-9 2012 1-9 2013 1-9 2012 1-9 2013  Revenues: ∆ 12/13 EUR +40.1 m  Revenues: ∆ 1

  15. Slide 15: Agriculture Key Financials – Income Statement

    Agriculture Segment 1-9/2013 Key Financials – Income Statement Agriculture in EUR m 1-9 2009 1-9 2010 1-9 2011 1-9 2012 1-9 2013 ∆12/13 (%) Revenues 2,559.8 2,560.9 3,222.8 3,819.9 8,329.3 >100% EBITDA 61.4 67.0 103.6 116.6 141.1 21.0% % of Revenues 2.4% 2.6% 3.2% 3.1% 1.7% EBIT 32.1 38.1 75.2 81.8

  16. Slide 16: Energy Segment 1-9/2013

    Energy Segment 1-9/2013 Fuels Heating Oil Lubricants Solid Biofuels BayWa r.e. BayWa AG 7 November 2013 Page 16

  17. Slide 17: Energy Segment Market Developments

    Energy Segment 1-9/2013 Market Developments Market Trends  Crude oil price lower y/y through to June; heating oil price levels consistently lower y/y  Strong demand for heating oil boosted by price trend  Average heating oil storage levels  13% growth predicted for the global solar market: USA &

  18. Slide 18: Energy Segment Revenues and EBIT as against previous year

    Energy Segment 1-9/2013 Revenues and EBIT as against previous year Conventional Energy Renewable Energy In EUR m In EUR m -4.4% -3.8% 2,350.5 2,247.9 300.7 289.2 Revenues Revenues -46.9% +29.3% 19.2 7.5 5.8 10.2 EBIT EBIT 1-9 2012 1-9 2013 1-9 2012 1-9 2013  Revenues: ∆ 12/13 EUR -102.6 m  Revenue

  19. Slide 19: Energy Key Financials – Income Statement

    Energy Segment 1-9/2013 Key Financials – Income Statement Energy in EUR m 1-9 2009 1-9 2010 1-9 2011 1-9 2012 1-9 2013 ∆12/13 (%) Revenues 1,366.8 1,723.0 2,143.3 2,651.2 2,537.1 -4.3% EBITDA 20.1 25.8 25.5 47.0 41.0 -12.8% % of Revenues 1.5% 1.5% 1.2% 1.8% 1.6% EBIT 13.8 17.3 14.1 25.0 17.7 -29.2%

  20. Slide 20: Building Materials Segment 1-9/2013

    Building Materials Segment 1-9/2013 Building Materials BayWa AG 7 November 2013 Page 20

  21. Slide 21: Building Materials Segment Market Developments

    Building Materials Segment 1-9/2013 Market Developments Market Trends Building Investments in Germany (Δ y/y in%) 2011 6.3  Delays in construction sector from long winter and 8.1 rainy spring -1.0  Despite significant recovery in summer, ground 5.8 still not made up: sales forecast for 2013 revise

  22. Slide 22: Building Materials Revenues and EBIT as against previous year

    Building Materials Segment 1-9/2013 Revenues and EBIT as against previous year Building Materials Segment In EUR m Revenues: EBIT: -2.7% 1,319.7 1,284.1 -44.6% Building 23.1 Materials Building 12.8 Materials 1-9 2012 1-9 2013 1-9 2012 1-9 2013  Revenues: ∆ 12/13 EUR -35.6 m  EBIT: ∆ 12/13 EUR -10.

  23. Slide 23: Building Materials Key Financials – Income Statement

    Building Materials Segment 1-9/2013 Key Financials – Income Statement Building Materials in EUR m 1-9 2009 1-9 2010 1-9 2011 1-9 2012 1-9 2013 ∆12/13 (%) Revenues 1,341.1 1,462.8 1,558.9 1,319.7 1,284.1 -2.7% EBITDA 41.2 40.2 51.4 38.0 22.2 -41.6% % of Revenues 3.1% 2.7% 3.3% 2.9% 1.7% EBIT 16.4 19.

  24. Slide 24: Outlook FY 2013

    Outlook FY 2013 BayWa AG 7 November 2013 Page 24

  25. Slide 25: Outlook: Good prospects for operating result growth

    Outlook FY 2013 Outlook Good prospects for operating result growth 2013 AGRICULTURE  Record high for global grain harvest volumes anticipated (USDA: 2.43 bn tons, incl. rice)  Y/y increase in volume of 6% for wheat in Germany; high selling potential  Strong collection and storage business expecte

  26. Slide 26: BayWa Share

    BayWa Share BayWa AG 7 November 2013 Page 26

  27. Slide 27: BayWa Share Price Performance

    BayWa Share Share Price Performance Share from 01/10/2012 to 21/10/2013 Closing price on 30/09/2012 30.69 € High (10/05/2013) 39.54 € Low (03/10/2012) 31.20 € Closing price on 30/09/2013 37.00 € Market Capitalisation in EUR m As per 30/09/2012 1,056.9 As per 30/09/2013 1,274.4 Freefloat Market cap.

  28. Slide 28: Shareholder Structure and Share Profile

    BayWa Share Shareholder Structure as per 30/09/2013 BayWa Share Profile (Sept. 2013) Stock Exchanges Frankfurt, Munich, Xetra Bayerische Raiffeisen- Freefloat Beteiligungs AG 40.0% Segment Official Markt/Prime Standard 34.9% Stock exch. Index SDAX (Sec. code no. 519406 and 519400) ISIN DE0005194062

  29. Slide 29: Thank you for your attention

    Thank you for your attention The information in this presentation is partly made up of forward-looking statements which are based on assumptions and are subject to unforeseeable risks. In as much as the assumptions on the successful integration of acquisitions and on the internal growth of the compa

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