Beiersdorf Ag · XETR:BEI
Beiersdorf — FY2022 Earnings Presentation
33 slides from Beiersdorf's earnings presentation, Mar 1, 2023
Slide 1: Full Year Results 2022
FULL YEAR RESULTS 2022 Hamburg, March 1, 2023 Vincent Warnery, Astrid Hermann
Slide 2: Financial Highlights 2022
FINANCIAL HIGHLIGHTS 2022 STRONGEST Consumer tesa Group Sales GROWTH IN Growth +10.5% +8.8% +10.2% THE LAST 20 EBIT 12.3% 16.7% 13.2% YEARS Margin (+20bps) (-20bps) (+20bps) Organic sales growth; EBIT excl. special factors Page 2 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 3: Executing Our Strategy with Excellence
REVIEW 2022 EXECUTING OUR STRATEGY WITH EXCELLENCE DIGITAL TRANSFORMATION SKIN CARE STRONG COMPETITIVE FOUNDATIONS SUSTAINABLE WHITE SPOT INCREASED POTENTIAL PRODUCTIVITY GROWTH Page 3 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 4: Outperforming the Market in 2022
FINANCIAL HIGHLIGHTS 2022 OUTPERFORMING THE MARKET IN 2022 +23.9% +13.1% +9.6% Consumer +1.9% +10.5% +8.8% Group +10.2% Organic sales growth Page 4 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 5: NIVEA: Strong, Balanced Growth
REVIEW 2022 - WIN WITH SKIN CARE NIVEA STRONG, BALANCED GROWTH Core Business & Superior Innovations Volume & Pricing +9.6% All Regions SALES GROWTH All Categories Organic sales growth Page 5 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 6: NIVEA Refocus Leads Growth in Japan
REVIEW 2022 - WIN WITH SKIN CARE NIVEA REFOCUS LEADS GROWTH IN JAPAN Local & global Only successful Reaching younger through Joint Venture international Skin Care target groups with Kao Group brand in mass channel Page 6 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 7: Derma: Reached Major Milestone Earlier Than Planned
REVIEW 2022 – WIN WITH SKINCARE DERMA REACHED MAJOR MILESTONE EARLIER THAN PLANNED >1bn EUR of Sales Double-digit growth in all regions: +31% +15% +43% +32% +13% North Asia Latin Middle Europe America America East & Africa +44% China Organic sales growth; Nominal sales Page 7 March 1st, 2023 | Beier
Slide 8: La Prairie Ready for the Reopening in China
REVIEW 2022 – WIN WITH SKIN CARE LA PRAIRIE READY FOR THE REOPENING IN CHINA Growing Diversifying First signs of the footprint channels recovery Page 8 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 9: Chantecaille on Track to Succeed
2023 EXPLORING NEW OPPORTUNITIES REVIEW 2022 - WIN WITH SKIN CARE 2022 CHANTECAILLE SUCCESSFUL INTEGRATION ON TRACK TO SUCCEED Page 9 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 10: E-Com: Growing Twice as Fast as Offline
REVIEW 2022 - DIGITAL ECOM: GROWING TWICE AS FAST AS OFFLINE E-Commerce share at 11.6% +17% Up from 2022 ~5% in FY 2019 GROWTH Incl. Chantecaille Page 10 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 11: Precision Marketing
REVIEW 2022 - DIGITAL PRECISION MARKETING ACHIEVE SAME RETURN ON INVESTMENT BY MORE EFFICIENT SPENDING ELIMINATE MEDIA WASTE 2€ 1€-1.5€ Digital Working Digital Working Media Spend Media Spend in 2019 in 2022 INCREASE MEDIA RELEVANCE Page 11 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 12: White Spots: Leveraging the LATAM Success
REVIEW 2022 – WHITE SPOTS WHITE SPOTS: LEVERAGING THE LATAM SUCCESS LATIN IMPLEMENTING AMERICA SUCCESS DRIVERS Focus on Skin Care +29% Building brand value vs 2021 Accelerating E-Commerce +60% vs 2019 AFRICA, INDIA & Organic sales growth INDONESIA Page 12 March 1st, 2023 | Beiersdorf | Full Year Res
Slide 13: White Spots: Tapping Indonesia's Growth Potential
REVIEW 2022 – WHITE SPOTS WHITE SPOTS: TAPPING INDONESIA’S GROWTH POTENTIAL HUGE CONSUMER POTENTIAL DRIVEN BY: 20% 4th fastest Beiersdorf acquired growing population remaining 20% stake in last 5 years of JV in Indonesia One of the largest and fastest growing Skin Care markets 100% €1.6 bn Skincare
Slide 14: White Spots: Investing in New Technologies
REVIEW 2022 – WHITE SPOTS WHITE SPOTS INVESTING IN NEW TECHNOLOGIES THROUGH VENTURE Strengthening CAPITAL our expertise in the field of acne treatment & skin microbiome research Page 14 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 15: Sustainability: Significant Progress on Our Transformation
REVIEW 2022 – CARE BEYOND SKIN SUSTAINABILITY SIGNIFICANT PROGRESS ON 17% absolute reduction of OUR TRANSFORMATION global CO2 emissions vs. base year 2018 More climate- friendly formula & packaging Page 15 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 16: Sustainability: AAA Rating Rewards Our Efforts
REVIEW 2022 - CARE BEYOND SKIN SUSTAINABILITY AAA RATING REWARDS OUR EFFORTS Only 13 companies worldwide have achieved the “AAA” rating Page 16 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 17: FY 2022 Financials
FY 2022 FINANCIALS Page 17 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 18: Group Key Figures 2022
KEY FIGURES 2022 GROUP 2021 2022 January – December January – December Change in € million in € million Nominal Organic Sales 7,627 8,799 +15.4% +10.2% EBIT 993 1,158 Profit after tax 699 823 EBIT margin 13.0% 13.2% Profit after tax margin 9.2% 9.4% Earnings per share in € 3.00 3.56 (Excluding speci
Slide 19: Segments Key Figures 2022
KEY FIGURES 2022 SEGMENTS 2021 2022 January – December January – December Change Consumer in € million in € million Nominal Organic Sales 6,129 7,131 +16.3% +10.5% EBIT 740 880 EBIT margin 12.1% 12.3% tesa Sales 1,498 1,668 +11.3% +8.8% EBIT 253 278 EBIT margin 16.9% 16.7% (Excluding special factors
Slide 20: Consumer Key Figures FY 2022
2022 +10.5% FY 2022 Q4 Q3 Q2 +6.7 Q1 +11.8 +11.9 +8.8% KEY FIGURES FY 2022 +11.6 CONSUMER FY 2021 Organic sales growth Page 20 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 21: Consumer Brands Q4 2022
+6.1% +19.7% +14.0% -8.0% KEY FIGURES 2022 – CONSUMER NIVEA DERMA HEALTHCARE LA PRAIRIE CONSUMER BRANDS Q4 2022 Organic sales growth Page 21 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 22: Consumer Sales per Region
KEY FIGURES 2022 – CONSUMER CONSUMER SALES PER REGION Europe 3,104 Western +5.0% North Europe Eastern America Europe 900 2,505 +5.3% 599 +17.6% +3.7% Americas 1,841 Latin Africa, Asia +23.2% America & Australia 941 2,186 +28.6% +10.2% Organic sales growth; Nominal sales in € million Page 22 March 1s
Slide 23: Group Income Statement
KEY FIGURES 2022 – GROUP GROUP INCOME STATEMENT (in € million) 2021 2022 Development in % Sales 7,627 8,799 15.4 Cost of goods sold -3,267 -3,842 17.6 Gross profit 4,360 4,957 13.7 Marketing and selling expenses -2,675 -2,998 12.1 Research and development expenses -268 -291 8.3 General and administr
Slide 24: Consumer Gross Margin
KEY FIGURES 2022 – CONSUMER CONSUMER 0.4 GROSS 60.3 2.5 -3.9 59.3 MARGIN In % of consumer sales FY 2021 PRICE MIX COST OF SALES, FY 2022 LOGISTICS & OTHER @FX avg. 2021 Page 24 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 25: Consumer Working Capital
9.9 9.3 8.9 KEY FIGURES 2022 – CONSUMER CONSUMER 5.1% WORKING 5.3 CAPITAL In % of consumer sales (12-months rolling) 2018 2019 2020 2021 @FX avg. 2021 2022 Page 25 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 26: tesa: Strong Demand Fuels Second Half Growth
KEY FIGURES 2022 – TESA STRONG DEMAND FUELS SECOND HALF GROWTH FY 2022: +8.8% Q4: +10.4% 16.7% Sales growth EBIT Organic sales growth; EBIT excluding special factors Page 26 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 27: tesa Key Topics 2023
Industry KEY TOPICS 2023 – TESA Display Solutions FOCUS ON SUSTAINABILITY AND DISPLAY TECHNOLOGY Consumer Sustainable Packaging Page 27 March 1st, 2023 | Beiersdorf | Full Year Results 2022
Slide 28: Guidance & Outlook
GUIDANCE & OUTLOOK
Slide 29: Strategic Outlook
ORGANIZATIONAL SET-UP MACRO OUTLOOK Move to new headquarters | Expanding production capabilities Volatility remains high in 2023 | China reopening USE OF CAPITAL S-Biomedic | Indonesia Coppertone and Chantecaille OUTLOOK 2023 STRATEGIC OUTLOOK Page 29 March 1st, 2023 | Beiersdorf | Full Year Results
Slide 30: Guidance FY 2023
OUTLOOK 2023 GUIDANCE FY 2023 Consumer Mid-single-digit organic sales growth EBIT margin +50bps vs previous year tesa Mid-single-digit organic sales growth EBIT margin slightly below previous year’s level Total Group Mid-single-digit organic sales growth EBIT margin slightly above previous year’s le
Slide 31: Thank You
THANK YOU
Slide 32: Group Balance Sheet
KEY FIGURES 2022 – GROUP GROUP BALANCE SHEET Assets 31.12.2021 31.12.2022 Intangible assets 538 1,111 Property, plant, and equipment 1,845 2,201 Non-current securities 3,937 3,184 Other non-current assets 56 52 Deferred tax assets 292 258 Non-current assets 6,668 6,806 Inventories 1,144 1,557 Trade
Slide 33: Group Balance Sheet
KEY FIGURES 2022 – GROUP GROUP BALANCE SHEET Equity and liabilities 31.12.2021 31.12.2022 Equity 6,894 7,805 Provisions for pensions and other 808 382 post-employment benefits Other non-current provisions 127 146 Non-current financial liabilities 106 117 Other non-current liabilities 1 — Deferred ta