Baywa Ag · XETR:BYW
Baywa — H1 2021 Earnings Presentation
36 slides from Baywa's earnings presentation, Aug 5, 2021
Slide 1: Interim Report First Half 2021 Conference Call
Interim Report First Half 2021 Conference Call Munich, 05 August 2021 Prof. Klaus Josef Lutz, CEO Andreas Helber, CFO
Slide 2: Agenda
Agenda 1. Development of the Group 1-6/2021 2. Development of the Segments 1-6/2021 3. Outlook for FY 2021 Appendix 05 August 2021 Page 2
Slide 3: Development of the Group 1-6/2021
Development of the Group 1-6/2021 Prof. Klaus Josef Lutz 05 August 2021 Page 3
Slide 4: Highlights – BayWa Group
Highlights – BayWa Group Revenues First Half of 2021 +13.3% ✓ Record half-year result 9,283.4 8,193.7 ✓ Revenue and earnings growth in all three operating segments: ▪ Energy (> +100%) EUR m ▪ Building Materials(+95.3%) ▪ Agriculture (+43.3%) H1 2020 H1 2021 ✓ Energy: BayWa r.e. Project sales of arou
Slide 5: Development of the Group Q2/2021 Multi-year comparison of EBIT
Development of the Group Q2/2021 Multi-year comparison of EBIT 99.5 81.6 73.1 Ø 77 64.7 66.0 Q2 2017 Q2 2018 Q2 2019 Q2 2020 Q2 2021 05 August 2021 Page 5
Slide 6: Development of the Group 1-6/2021 Multi-year comparison of EBIT
Development of the Group 1-6/2021 Multi-year comparison of EBIT 144.6 72.8 Ø 71 52.2 53.8 32.1 H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 05 August 2021 Page 6
Slide 7: Energy Segment
Energy Segment 09.05.2019 Seite 7
Slide 8: Energy Segment 1-6/2021 Market developments
Energy Segment 1-6/2021 Market developments Renewable Energies Conventional Energy Global investments in renewable energies in H1 20211 Development of Brent crude oil price2 In USD bn Solar energy Onshore wind energy In USD per barrel 75 +3.1% 65 124.8 55 Ø 51.4 121.0 45 72.1 78.4 35 25 48.9 46.4 15
Slide 9: Energy Segment 1-6/2021: Renewable Energies
Energy Segment 1-6/2021: Renewable Energies Revenues and EBIT as against the previous year Renewable Energies In EUR m +61.7% 1,351.3 >100% 835.8 50.8 Revenues EBIT -1.3 H1 2020 H1 2021 H1 2020 H1 2021 ▪ Revenues: ∆ 20/21 EUR +515.5 million ▪ EBIT: ∆ 20/21 EUR +52.1 million ▪ Significant increase in
Slide 10: Energy Segment 1-6/2021: Conventional Energy
Energy Segment 1-6/2021: Conventional Energy Revenues and EBIT as against the previous year Conventional Energy In EUR m -2.5% -63.9% 915.0 892.4 18.0 Revenues EBIT 6.5 H1 2020 H1 2021 H1 2020 H1 2021 ▪ Revenues: ∆ 20/21 EUR -22.6 million ▪ EBIT: ∆ 20/21 EUR -11.5 million ▪ Volume-induced downturn i
Slide 11: Agriculture Segment
Agriculture Segment 09.05.2019 Seite 11
Slide 12: Market developments – agricultural products
Agriculture Segment 1-6/2021 Market developments – agricultural products Agri commodities price trend1 Global grain balance (excl. rice; July 2021)2 In EUR/tons In millions of tons Matif Wheat CBoT Corn Ending stocks Production Consumption 260 2750 135 240 115 2250 2171 2128 2178 2289 220 2124 2205
Slide 13: Market development Inputs, Equipment, Global Produce
Agriculture Segment 1-6/2021 Market development Inputs, Equipment, Global Produce Input Resources Agricultural Equipment Global Produce ▪ High energy costs and producer prices result in ▪ Slight recovery in sentiment in the agriculture ▪ New Zealand: apple production 2021 forecast 8% price increases
Slide 14: Agriculture Segment 1-6/2021: Cefetra Group (formerly BAST)
Agriculture Segment 1-6/2021: Cefetra Group (formerly BAST) Revenues and EBIT as against the previous year Cefetra Group In EUR m +14.5% >100% 2,562.3 20.1 2,238.7 8.6 Revenues EBIT H1 2020 H1 2021 H1 2020 H1 2021 ▪ Revenues: ∆ 20/21 EUR +323.6 million ▪ EBIT: ∆ 20/21 EUR +11.5 million ▪ Price-induc
Slide 15: Agriculture Segment 1-6/2021: Agri Trade & Service
Agriculture Segment 1-6/2021: Agri Trade & Service Revenues and EBIT as against the previous year Agri Trade & Service In EUR m +7.1% >100% 1,987.0 2,129.0 39.0 18.9 Revenues EBIT H1 2020 H1 2021 H1 2020 H1 2021 ▪ Revenues: ∆ 20/21 EUR +142.0 million ▪ EBIT: ∆ 20/21 EUR +20.1 million ▪ Domestic prod
Slide 16: Agriculture Segment 1-6/2021: Ag. Equipment
Agriculture Segment 1-6/2021: Ag. Equipment Revenues and EBIT as against the previous year Agricultural Equipment In EUR m +0.4% -7.5% 876.9 880.8 15.9 14.7 EBIT Revenues H1 2020 H1 2021 H1 2020 H1 2021 ▪ Revenues: ∆ 20/21 EUR +3.9 million ▪ EBIT: ∆ 20/21 EUR -1.2 million ▪ Revenues at previous year
Slide 17: Agriculture Segment 1-6/2021: Global Produce
Agriculture Segment 1-6/2021: Global Produce Revenues and EBIT as against the previous year Global Produce In EUR m +2.2% -20.3% 451.2 461.0 18.2 14.5 Revenues EBIT H1 2020 H1 2021 H1 2020 H1 2021 ▪ Revenues: ∆ 20/21 EUR +9.8 million ▪ EBIT: ∆ 20/21 EUR -3.7 million ▪ Price-driven rise in revenues ▪
Slide 18: Building Materials Segment
Building Materials Segment 09 May 2019 Page 18
Slide 19: Building Materials Segment 1-6/2021 Market developments
Building Materials Segment 1-6/2021 Market developments Order intake in the German construction industry Dynamic price trend in building materials 1-4/20211 Producer price indices of selected building materials in May 2021 2 In % vs 2020 In % vs 2020 13.4% Solid structural timber 83.3% Petroleum bit
Slide 20: Building Materials Segment 1-6/2021 Revenues and EBIT
Building Materials Segment 1-6/2021 Revenues and EBIT as against the previous year Building Materials In EUR m +13.4% +95.3% 994.6 33.6 876.8 17.2 Revenues EBIT H1 2020 H1 2021 H1 2020 H1 2021 ▪ Revenues: ∆ 20/21 EUR +117.8 million ▪ EBIT: ∆ 20/21 EUR +16.4 million ▪ Revenues and earnings increase,
Slide 21: Innovation & Digitalisation Segment 1-6/2021
Innovation & Digitalisation Segment 1-6/2021 Revenues and EBIT as against the previous year Digital Farming & eBusiness In EUR m +1.8% +29.4% 5.6 5.7 EBIT Revenues -4.8 -6.8 H1 2020 H1 2021 H1 2020 H1 2021 ▪ Revenues: ∆ 20/21 EUR +0.1 million ▪ EBIT: ∆ 20/21 EUR +2.0 million ▪ Smart Farming: positiv
Slide 22: Group Financials
Group Financials Andreas Helber 05 August 2021 Page 22
Slide 23: Other Activities 1-6/2021
Other Activities 1-6/2021 Other Activities In EUR m +14.6% -6.0% 6.7 6.3 EBIT Revenues -29.8 -34.9 H1 2020 H1 2021 H1 2020 H1 2021 ▪ Revenues: ∆ 20/21 EUR -0.4 million ▪ EBIT: ∆ 20/21 EUR +5.1 million ▪ EBIT consists of administrative costs and consolidation effects ▪ Improvement compared with year-
Slide 24: Financials Energy Segment 1-6/2021 Income Statement
Financials Energy Segment 1-6/2021 Income Statement in EUR m H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 ∆20/21 (%) Revenues 1,664.1 1,644.9 1,926.8 1,750.8 2,243.7 28.2% EBITDA 66.0 12.7 32.2 38.9 87.7 >100% % of Revenues 4.0% 0.8% 1.8% 2.2% 3.9% EBIT 49.1 1.3 12.1 16.7 57.3 >100% % of Revenues 3.0% 0.
Slide 25: Financials Agriculture Segment 1-6/2021 Income Statement
Financials Agriculture Segment 1-6/2021 Income Statement in EUR m H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 ∆20/21 (%) Revenues 5,614.8 5,814.5 5,696.3 5,553.8 6,033.1 8.6% EBITDA 77.4 82.0 97.6 109.0 139.1 27.6% % of Revenues 1.4% 1.4% 1.7% 2.0% 2.3% EBIT 48.3 52.4 53.6 61.6 88.3 43.3% % of Revenues
Slide 26: Financials Building Materials Segment 1-6/2021 Income Statement
Financials Building Materials Segment 1-6/2021 Income Statement In EUR m H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 ∆20/21 (%) Revenues 753.6 797.7 775.3 876.8 994.6 13.4% EBITDA 14.5 15.4 17.6 30.7 47.7 55.4% % of Revenues 1.9% 1.9% 2.3% 3.5% 4.8% EBIT 6.8 7.4 7.0 17.2 33.6 95.3% % of Revenues 0.9% 0.
Slide 27: Group Financials 1-6/2021 Income Statement
Group Financials 1-6/2021 Income Statement in EUR m H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 ∆20/21 (%) Revenues 8,044.0 8,270.4 8,410.6 8,193.7 9,283.4 13.3% EBITDA 138.6 96.9 155.1 160.4 262.9 63.9% % of Revenues 1.7% 1.2% 1.8% 2.0% 2.8% EBIT 72.8 32.1 52.2 53.8 144.6 > 100% % of Revenues 0.9% 0.4%
Slide 28: Group Financials 1-6/2021 Balance Sheet
Group Financials 1-6/2021 Balance Sheet In EUR m H1 2017 H1 2018 H1 2019 H1 2020 GJ 2020 H1 2021 ∆20/21 (%) Total assets 6,698.7 7,100.9 8,453.9 8,863.8 9,044.4 10,067.2 11.3% Equity 1,111.6 1,391.0 1,351.4 1,312.6 1,256.1 1,872.4 49.1% Equity ratio 16.6% 19.6% 16.0% 14.8% 13.9% 18.6% Equity ratio a
Slide 29: Operational Outlook for FY 2021
Operational Outlook for FY 2021 Prof. Klaus Josef Lutz 05 August 2021 Page 29
Slide 30: Outlook 2021
Outlook 2021 Energy - BayWa r.e.: growth trend is ongoing; projected output of almost 1.1 GW planned for 2021; trading in PV components likely to continue positive development - Conventional Energy: forecast for a decline in heating oil sales (exceptional boom in the previous year) and in fuels; pos
Slide 31: Thank you for your attention!
Thank you for your attention!
Slide 32: BayWa Share 2021
BayWa Share 2021 05 August 2021 Page 32
Slide 33: The BayWa share 2021: Price performance compared with the SDAX and DAX
The BayWa share 2021: Price performance compared with the SDAX and DAX BayWa SDAX DAX 1 January to 30 July 2021: 130% performance & closing prices1 BayWa 38,65€ 125% 120% 16.9% closing price 115% SDAX 110% 16.531,16* 105% 12.0% closing price 100% DAX 95% 15.544,39* 90% Jan-21 Feb-21 Mar-21 Apr-21 Ma
Slide 34: BayWa Share 2021
BayWa Share 2021 Shareholder structure (30/06/2021) BayWa share profile (30/06/2021) Stock exchanges Frankfurt, Munich, Xetra Segment Official Market / Prime Standard Security code no. 519406 and 519400 34.5% 38.3% ISIN DE0005194062 and DE0005194005 Share capital EUR 90,671,895.04 Number of shares 3
Slide 35: Investor Relations Contact Financial Calendar 2021/22
Investor Relations Contact Josko André Pierre Radeljic Wahlen Leiter Investor Relations Junior Investor Relations Manager Telefon +49 (089) 92 22 3887 T +49 (089) 92 22 3879 Mobil +49 162 2828671 andrepierre.wahlen@baywa.de josko.radeljic@baywa.de Financial Calendar 2021/22 5th 11th 2022 25th 5th Au
Slide 36: United for success.
United for success.