Slide 1: Interim Report First Half 2020 Conference Call
Interim Report First Half 2020 Conference Call Munich, 06 August 2020 Prof. Klaus Josef Lutz, CEO Andreas Helber, CFO
Slide 2: Agenda
Agenda 1. Corona Update 2. Development of the Group 1-6/2020 3. Development of the Segments 1-6/2020 4. Outlook for FY 2020 Appendix 06 August 2020 Page 2
Slide 3: Coronavirus Measures and precautions
Coronavirus Measures and precautions IT and communication Protection and safety Establishment of a crisis team: Group-wide supply of: ▪ More than 250 measures and ▪ 1,600,000 masks decisions by the Crisis Task Force ▪ 13,000 liters of disinfectant ▪ 24 hour crisis hotline BayWa locations in Germany
Slide 4: Development of the Group 1-6/2020
Development of the Group 1-6/2020 06 August 2020 Page 4
Slide 5: Development of the Group 1-6/2020 Summary
Development of the Group 1-6/2020 Summary In EUR m -2.6% +3.1% 8,410.6 8,193.7 52.2 53.8 EBIT Revenues H1 2019 H1 2020 H1 2019 H1 2020 ▪ Slight price-induced decline in revenues ▪ Above-average, strong second-quarter: shortfall from the first quarter already made up by mid-year ▪ EBIT raised slightl
Slide 6: Multi-year comparison of EBIT Q2
Development of the Group Q2/2020 Multi-year comparison of EBIT 81,6 73,1 67,7 66,0 Ø 71 64,7 Q2 2016 Q2 2017 Q2 2018 Q2 2019 Q2 2020 06 August 2020 Page 6
Slide 7: Energy Segment
Energy Segment 09 May 2019 Page 7
Slide 8: Energy Segment 1-6/2020 Market developments
Energy Segment 1-6/2020 Market developments Renewable Energies Conventional Energy Global investments in renewable energies in H1 20201 Brent crude oil price2 and heating oil price trend in Germany3 Increase in favour of wind energy In USD bn In USD per barrel In cent per litre +4.2% 80 75 137 70.
Slide 9: Energy Segment: Renewable Energies
Energy Segment 1-6/2020: Renewable Energies Revenues and EBIT as against the previous year Renewable Energies In EUR m +20.1% 835.8 696.1 >-100% 0.5 EBIT Revenues -1.3 H1 2019 H1 2020 H1 2019 H1 2020 ▪ Revenues: ∆ 19/20 EUR +139.7 million ▪ EBIT: ∆ 19/20 EUR -1.8 million ▪ Significant increase in re
Slide 10: Energy Segment: Conventional Energy
Energy Segment 1-6/2020: Conventional Energy Revenues and EBIT as against the previous year Conventional Energy In EUR m -25.7% +55.2% 1,230.7 18.0 915.0 11.6 Revenues EBIT H1 2019 H1 2020 H1 2019 H1 2020 ▪ Revenues: ∆ 19/20 EUR -315.7 million ▪ EBIT: ∆ 19/20 EUR +6.4 million ▪ Price-induced decline
Slide 11: Financials Energy Segment 1-6/2020 Income Statement
Financials Energy Segment 1-6/2020 Income Statement in EUR m H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 ∆19/20 (%) Revenues 1,274.3 1,664.1 1,644.9 1,926.8 1,750.8 -9.1% EBITDA 38.8 66.0 12.7 32.2 38.9 20.8% % of Revenues 3.0% 4.0% 0.8% 1.8% 2.2% EBIT 23.1 49.1 1.3 12.1 16.7 38.0% % of Revenues 1.8% 3.
Slide 12: Financials Energy Segment 1-6/2020 Income Statement
Financials Energy Segment 1-6/2020 Income Statement in Mio. Euro H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 ∆19/20 (%) Revenues 1,274.3 1,664.1 1,644.9 1,926.8 1,750.8 -9.1% Renewable Energies 316.1 576.0 539.9 696.1 835.8 20.1% Conventional Energy 958.2 1,088.1 1,105.0 1230.7 915.0 -25.7% EBITDA 38.8
Slide 13: Agriculture Segment
Agriculture Segment 09 May 2019 Page 13
Slide 14: Market developments – agricultural products
Agriculture Segment 1-6/2020 Market developments – agricultural products Agri commodities price trend1 Global grain balance (excl. rice; July 2020)2 In EUR/tons In millions of tons Corn CBT Wheat MTF Soy meal CBT Rape seed MTF Ending Stocks Production Consumption 2750 135 220 430 115 410 2250 2171 2
Slide 15: Agriculture Segment: BAST
Agriculture Segment 1-6/2020: BAST Revenues and EBIT as against the previous year BAST In EUR m -12.7% +2.4% 2,564.0 8.4 8.6 2,238.7 EBIT Revenues H1 2019 H1 2020 H1 2019 H1 2020 ▪ Revenues: ∆ 19/20 EUR -325.3 million ▪ EBIT: ∆ 19/20 EUR +0.2 million ▪ Volume-induced decline in revenues (-14% y/y) d
Slide 16: Market development Global Produce, Inputs, Equipment
Agriculture Segment 1-6/2020 Market development Global Produce, Inputs, Equipment Global Produce Input Resources Agricultural Equipment ▪ Good product availability of all types of fruit during ▪ Weak demand due to regulatory framework ▪ Economic barometer trending up since the start of the Corona cr
Slide 17: Agriculture Segment: Global Produce
Agriculture Segment 1-6/2020: Global Produce Revenues and EBIT as against the previous year Global Produce In EUR m +13.5% +82.0% 451.2 18.2 397.7 10.0 Revenues EBIT H1 2019 H1 2020 H1 2019 H1 2020 ▪ Revenues: ∆ 19/20 EUR +53.5 million ▪ EBIT: ∆ 19/20 EUR +8.2 million ▪ Volume- and price-induced inc
Slide 18: Agriculture Segment: Agri Trade & Service
Agriculture Segment 1-6/2020: Agri Trade & Service Revenues and EBIT as against the previous year Agri Trade & Service In EUR m +2.6% -22.9% 1,936.2 1,987.0 24.5 18.9 EBIT Revenues Q1 2019 Q1 2020 H1 2019 H1 2020 ▪ Revenues: ∆ 19/20 EUR +50.8 million ▪ EBIT: ∆ 19/20 EUR -5.6 million ▪ Volume-induced
Slide 19: Agriculture Segment: Ag. Equipment
Agriculture Segment 1-6/2020: Ag. Equipment Revenues and EBIT as against the previous year Agricultural Equipment In EUR m +9.8% +47.2% 876.9 15.9 798.4 10.8 Revenues EBIT H1 2019 H1 2020 H1 2019 H1 2020 ▪ Revenues: ∆ 19/20 EUR +78.5 million ▪ EBIT: ∆ 19/20 EUR +5.1 million ▪ Significant increase in
Slide 20: Financials Agriculture Segment 1-6/2020 Income Statement
Financials Agriculture Segment 1-6/2020 Income Statement in EUR m H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 ∆19/20 (%) Revenues 5,439.0 5,614.8 5,814.5 5,696.3 5,553.8 -2.5% EBITDA 80.7 77.4 82.0 97.6 109.0 11.7% % of Revenues 1.5% 1.4% 1.4% 1.7% 2.0% EBIT 53.5 48.3 52.4 53.6 61.6 14.9% % of Revenues
Slide 21: Building Materials Segment
Building Materials Segment 09 May 2019 Page 21
Slide 22: Building Materials Segment 1-6/2020 Market developments
Building Materials Segment 1-6/2020 Market developments Sales in the German construction industry 1-4/2020 Building permissions in Germany Forecast 20202 in % vs 20191 in 1,000 12.7% -4.3% 10.1% 368 9.6% 352 47 7.3% 196 109 Construction Commercial Public-sector Housing 2019 Private homes Apartment O
Slide 23: Building Materials Segment Revenues and EBIT
Building Materials Segment 1-6/2020 Revenues and EBIT as against the previous year Building Materials In EUR m +13.1% >+100% 876.8 17.2 775.3 Revenues 7.0 EBIT H1 2019 H1 2020 H1 2019 H1 2020 ▪ Revenues: ∆ 19/20 EUR +101.5 million ▪ EBIT: ∆ 19/20 EUR +10.2 million ▪ Revenues and earnings increase fr
Slide 24: Financials Building Materials Segment Income Statement
Financials Building Materials Segment 1-6/2020 Income Statement In EUR m H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 ∆19/20 (%) Revenues 732.5 753.6 797.7 775.3 876.8 13.1% EBITDA 13.2 14.5 15.4 17.6 30.7 74.4% % of Revenues 1.8% 1.9% 1.9% 2.3% 3.5% EBIT 5.6 6.8 7.4 7.0 17.2 > +100% % of Revenues 0.8% 0
Slide 25: Innovation & Digitalisation Segment 1-6/2020
Innovation & Digitalisation Segment 1-6/2020 Revenues and EBIT as against the previous year Digital Farming & eBusiness In EUR m +12.0% -4.6% 5.6 5.0 EBIT Revenues -6.5 -6.8 H1 2019 H1 2020 H1 2019 H1 2020 ▪ Revenues: ∆ 19/20 EUR +0.6 million ▪ EBIT: ∆ 19/20 EUR -0.3 million ▪ Order intake growth de
Slide 26: Other Activities 1-6/2020
Other Activities 1-6/2020 In EUR m >-100% -5.6% 7.2 6.8 EBIT -14.0 Revenues -34.9 H1 2019 H1 2020 H1 2019 H1 2020 ▪ Revenues: ∆ 19/20 EUR -0.4 million ▪ EBIT: ∆ 19/20 EUR -20.9 million ▪ EBIT consists of administrative costs and consolidation effects; decline compared with year-earlier period caused
Slide 27: Group Financials
Group Financials 06 August 2020 Page 27
Slide 28: Group Financials 1-6/2020 Income Statement
Group Financials 1-6/2020 Income Statement in EUR m H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 ∆19/20 (%) Revenues 7,456.4 8,044.0 8,270.4 8,410.6 8,193.7 -2.6% EBITDA 116.6 138.6 96.9 155.1 160.4 3.4% % of Revenues 1.6% 1.7% 1.2% 1.8% 2.0% EBIT 55.3 72.8 32.1 52.2 53.8 3.1% % of Revenues 0.7% 0.9% 0.4
Slide 29: Group Financials 1-6/2020 Balance Sheet
Group Financials 1-6/2020 Balance Sheet In EUR m H1 2016 H1 2017 H1 2018 H1 2019 GJ 2019 H1 2020 ∆19/20 (%) Total assets 6,581.3 6,698.7 7,100.9 8,453.9 8,867.2 8,863.8 0.0% Equity 1,068.7 1,111.6 1,391.0 1,351.4 1,358.6 1,312.6 -3.4% Equity ratio 16.2% 16.6% 19.6% 16.0% 15.3% 14.8% Equity ratio adj
Slide 30: Group Financials Cash Flow Statement
Group Financials Cash Flow Statement in EUR m H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 ∆19/20 (%) Cash earnings 57.3 86.3 40.1 151.9 147.2 -3.1% Cash flow from operating activities 60.3 296.7 157.4 217.6 232.3 6.8% Cash flow from investing activities -80.5 -52.2 -59.8 -102.7 -81.3 20.8% Cash flow fro
Slide 31: Operational Outlook for FY 2020
Operational Outlook for FY 2020 06 August 2020 Page 31
Slide 32: Operational Outlook 2020 Energy Segment
Operational Outlook 2020 Energy Segment ▪ Project sales of more than 1 GW planned, most of which in the final quarter ▪ Uptrend in sales from trading in PV components expected to continue ▪ Additional purchase stimulus through the removal of the solar cap Rise in earnings anticipated in the second
Slide 33: Project sales BayWa r.e. 2020: almost 1.2 GW
Energy Segment 2019: Renewable Energies Project sales BayWa r.e. 2020: almost 1.2 GW Europe North America 683 MW 386 MW Asia 105 MW 06 August 2020 Page 33
Slide 34: Operational Outlook 2020 Agriculture Segment
Operational Outlook 2020 Agriculture Segment ▪ Recovery of the agricultural commodity markets and increase in selling activities anticipated in southern Europe ▪ Catching-up effects possible in the speciality business as some transactions delayed due to Corona ▪ Global Produce: greater area for cult
Slide 35: Operational Outlook 2020 Building Materials Segment
Operational Outlook 2020 Building Materials Segment ▪ High order backlog of the companies in the sector, as well as ongoing construction boom suggest continued strong demand for building materials ▪ Positive stimulus from sustained low interest rate level and value added tax reduction ▪ Greater inve
Slide 36: Thank you for your attention!
Thank you for your attention!
Slide 37: United for success.
United for success.
Slide 38: BayWa Share 2019/20
BayWa Share 2019/20 06 August 2020 Page 38
Slide 39: The BayWa share 2020: Price performance compared with the SDAX and DAX
The BayWa share 2020: Price performance compared with the SDAX and DAX 110% 03 August 2020: performance & closing prices1 BayWa 100% €27.15 -3,6% closing price 90% High on 17/02/2020 SDAX: 13,066.71 High on 23/07/20 BayWa: € 29.85 SDAX2 11,966.96* 80% High on 19/02/2020 DAX: 13,789.00 -5,4% closing
Slide 40: BayWa Share 2020
BayWa Share 2020 Shareholder structure (30/06/2020) BayWa share profile (30/06/2020) Stock exchanges Frankfurt, Munich, Xetra Segment Official Market / Prime Standard Security code no. 519406 and 519400 34.6% 38.5% ISIN DE0005194062 and DE0005194005 Share capital EUR 90,314,398.72 Number of shares 3
Slide 41: Investor Relations Contact Financial Calendar 2020/21
Investor Relations Contact Josko André Pierre Renate Radeljic Wahlen Lorenz Head of Investor Relations Junior Investor Relations Manager Assistant T +49 (089) 92 22 3887 T +49 (089) 92 22 3879 T +49 (089) 92 22 3881 F +49 162 2828671 andrepierre.wahlen@baywa.de renate.lorenz@baywa.de josko.radeljic@