Slide 1: Investor Conference Call Q3 2022 Results
Investor Conference Call /////////// Q3 2022 Results November 8th, 2022 Werner Baumann, CEO Wolfgang Nickl, CFO
Slide 2: Cautionary Statements Regarding Forward-Looking Information
Cautionary Statements Regarding Forward-Looking Information This presentation may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the ac
Slide 3: Q3 2022 Results: Business Update
Q3 2022 Results Business Update /////////// Werner Baumann, CEO
Slide 4: On Track for Full Year Guidance
On Track for Full Year Guidance 1 Continued Growth Momentum 2 Robust Performance across Divisions 3 Important Innovation Milestones 4 Bayer Q3 2022 Investor Conference Call /// November 8th, 2022
Slide 5: Q3 2022 Results: Group Performance & Outlook
Q3 2022 Results Group Performance & Outlook /////////// Wolfgang Nickl, CFO
Slide 6: Q3 2022: Continued Growth in Sales and Earnings
Q3 2022: Continued Growth in Sales and Earnings Sales EBITDA Core EPS Free Cash Flow In million €, ∆% yoy In million €, before special items In €, Cont. Operations In million € +15% (+6% cpa) 11.281 9.781 +17% 2.451 -11% 2.089 1.954 +8% 1.738 1,05 1,13 21.4% 21.7% Q3'21 Q3'22 Q3'21 Q3'22 Q3'21 Q3'22
Slide 7: Crop Science: Sustained Growth Momentum
Crop Science: Sustained Growth Momentum Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • Herbicides (+45%) pricing main growth +22% driver due to continued favorable market Volume dynamics (+8% cpa) -11% 4.692 • Strong start to LATAM (
Slide 8: Pharmaceuticals: Increasing Contribution from New Products
Pharmaceuticals: Increasing Contribution from New Products Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • EyleaTM (+4%) growing across regions, Volume particularly Europe and China +3% • XareltoTM (-8%) still impacted by VBP in +9% (
Slide 9: Consumer Health: Continuous Growth Across All Regions
Consumer Health: Continuous Growth Across All Regions Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • Allergy & Cold (+17%) driven by high number of cold incidences and U.S. Volume AsteproTM launch -4% +15% • Dermatology (+14%) growth
Slide 10: 9M 2022: On Track for Full Year Guidance
9M 2022: On Track for Full Year Guidance Significant Inflation – Offset by Pricing and Efficiencies Sales EBITDA Core EPS Free Cash Flow In million €, ∆% yoy In million €, before special items In €, Cont. Operations In million € +18% (+10% cpa) 38.739 1,691 32.963 +26% +26% 6,59 11.051 5,25 8.784 26
Slide 11: FY 2022: Group P&L Outlook Confirmed
ES divestment effects included; at constant currencies (based on 2021 average Actual rates) FY 2022: Group P&L Outlook Confirmed At constant currencies Estimated currency impact1 Net Sales €47bn – ~ + €3.5bn €48bn EBITDA margin 26 - 27% ~ - 0.7%pts (before special items) Core EPS ~ €7.30 ~ + €0.40 •
Slide 12: Investor Conference Call
Investor Conference Call /////////// Q3 2022 Results November 8th, 2022 Werner Baumann, CEO Wolfgang Nickl, CFO
Slide 13: FY 2022: Divisional Outlook
ES divestment effects included; at constant currencies (based on 2021 average Actual rates) FY 2022: Divisional Outlook Sales Growth 2022 EBITDA-margin 2022 (cpa) (before special items) Crop Science ~ 13% ~ 27% Pharmaceuticals 3% - 4% ~ 32% Consumer Health 6% - 7% 22% - 23% 13 Bayer Q3 2022 Investor
Slide 14: FY 2022: Other Group KPIs Outlook
ES divestment effects included; at constant currencies (based on 2021 average Actual rates) FY 2022: Other Group KPIs Outlook At constant currencies Estimated currency impact1 Special items (EBITDA) ~ +€0.2bn • Updated for ES divestment gains Not material Depreciation and amortization (clean) ~ €4.0
Slide 15: Q3 2022: Core EPS to EPS Bridge
Q3 2022: Core EPS to EPS Bridge in € 15 Bayer Q3 2022 Investor Conference Call /// November 8th, 2022
Slide 16: 9M 2022: Core EPS to EPS Bridge
9M 2022: Core EPS to EPS Bridge in € 16 Bayer Q3 2022 Investor Conference Call /// November 8th, 2022
Slide 17: Q3 2022: Key KPIs Bayer Group
Q3 2022: Key KPIs Bayer Group 1 1 Less restructuring special items 2 2 Guidance at ~23% for FY 2022 Inflation in inventories and phasing of rebate 3 3 payments 17 Bayer Q3 2022 Investor Conference Call /// November 8th, 2022
Slide 18: Q3 2022: Key KPIs by Division
Q3 2022: Key KPIs by Division 18 Bayer Q3 2022 Investor Conference Call /// November 8th, 2022
Slide 19: 9M 2022: Crop Science
9M 2022: Crop Science Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • Herbicides (+53%) with stronger pricing due to continued tight supply and strong demand for Volume +26% glyphosate-based herbicides -1% (+17% cpa) • Corn S&T (+5%)
Slide 20: 9M 2022: Pharmaceuticals
9M 2022: Pharmaceuticals Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • EyleaTM (+10%) driven by growing volumes in all regions, particularly Europe Volume +3% +8% • XareltoTM (-7%) impacted by VBP driven (+3% cpa) lower price and vo
Slide 21: 9M 2022: Consumer Health
9M 2022: Consumer Health Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • Allergy & Cold with exceptional growth (+24%) driven by higher number of cold Volume incidences and the launch of AsteproTM +3% +17% • Nutritionals (+1%) normali
Slide 22: 9M 2022: Key KPIs Bayer Group
9M 2022: Key KPIs Bayer Group 1 1 Glyphosate Litigation Provision in Q2 2021 2 2 Guidance at ~23% for FY 2022 3 Glyphosate Litigation Provision in Q2 2021 offset in 3 Other WoC for cashflow calculation 22 Bayer Q3 2022 Investor Conference Call /// November 8th, 2022
Slide 23: 9M 2022: Key KPIs by Division
9M 2022: Key KPIs by Division 23 Bayer Q3 2022 Investor Conference Call /// November 8th, 2022
Slide 24: Bayer AG Company Info
Bayer AG Company Info 24 Bayer Q3 2022 Investor Conference Call /// November 8th, 2022
Slide 25: Global Megatrends in Health & Nutrition
Group Overview Global Megatrends in Health & Nutrition Attractive Macro Drivers of Our Strategy and Underpin the Need for Innovation Pharmaceuticals Consumer Health Crop Science Aging Population Growing Population Pressure on Ecosystems Megatrends People 60+ +2.2bn +50% -20% more than people1 throug
Slide 26: Leadership and Innovation Set the Course for Our Future Growth
Group Overview Leadership and Innovation Set the Course for Our Future Growth Key Growth Drivers Long-term megatrend tailwinds are propelling growing demand in the Life Sciences Number one position in Ag inputs and leading positions in key Pharma and Consumer categories World-class innovation: techn
Slide 27: Investment Thesis: Key Takeaways
Key Takeaways Group Overview Investment Thesis Key Takeaways 1 We are a global leader in Health & Nutrition that addresses societal megatrends 2 We are well-positioned to shape disruption in the bio-revolution 3 We expect to translate innovation into profitable mid-term growth 4 We expect to improve
Slide 28: Important Improvements in ESG Ratings Achieved
Important Improvements in ESG Ratings Achieved Removal of red flags at MSCI and ISS ESG Norm-Based Research in 2021/2022 Agency Score (type) Score 2022 Comments ESG Score A Improvement of Rating from BB to A Controversy level ⚑ (GMO) ⚑ (GMO) removed Risk Score 29.9 (medium) Controversy level and rat
Slide 29: Innovation
Innovation 29 Bayer Q3 2022 Investor Conference Call /// November 8th, 2022
Slide 30: Pharmaceuticals: R&D Developments (since last update on August 4, 2022)
Pharmaceuticals: R&D Developments (since last update on August 4, 2022) Phase I Phase II Phase III Commercial Initiation of CCR8 dep Completion of PACIFIC study Announcement of OCEANIC Nubeqa (darolutamide): antibody (immuno oncology) program with FXIa inhibitor study program with FXIa US label exte
Slide 31: Pharmaceuticals: Overview Development Portfolio
Pharmaceuticals: Overview Development Portfolio (as of November 8, 2022) Phase I (17) Phase II (10) Phase III (9) Elimusertib (ATR Inhibitor) (BAY 1895344) Regorafenib (combi Nivolumab) (BAY 734506) Darolutamide (AR Inhibitor) (BAY 1841788) /// Solid tumors (recurrent or metastatic) /// Prostate Can
Slide 32: Crop Science: R&D Pipeline (Seed & Traits)
Crop Science: R&D Pipeline (as of February 2022) Key Corn Seed & Traits, Soybean Seed & Traits and Other Projects with ~€19-€21bn Peak Sales Potential; ~50% Incremental Phase I Phase II Phase III Phase IV Life Cycle Mgmt.1 Digital Disease Mgmt. – NA 5th Generation Lepidoptera Protection Trait Short
Slide 33: Crop Science: R&D Pipeline (Crop Protection)
Crop Science: R&D Pipeline (as of February 2022) Key Crop Protection Projects with ~€9bn Peak Sales Potential; ~50% Incremental Phase I Phase II Phase III Phase IV Life Cycle Management1 New AI Development Non-Selective Glyphosate LCM New Herbicide New Herbicide (Post-Emergence Broad Acre) Selective
Slide 34: Crop Science: Breadth and Depth of Five Core R&D Platforms
Crop Science: Breadth and Depth of Five Core R&D Platforms Power Innovation CONVERGENCE OF LEADING R&D PLATFORMS TO UNLOCK NEXT LAYER OF VALUE CREATION IN AGRICULTURE SEEDS & TRAITS CROP PROTECTION DIGITAL FARMING Breeding Biotech Chemistry Biologicals Data Science 270,000 microbes in #1 Leading ger
Slide 35: Consumer Health: Accelerating Growth with Innovation
Consumer Health: Accelerating Growth with Innovation Selected Examples of Recent Launches or Approvals Astepro Rx-to-OTC Switch AleveX Topical Pain Relief Solutions Bepanthen extension to Dry Skin (launch in 2022) (launched 2021) (launched 2021) First OTC Steroid-Free Antihistamine Expansion int