Beiersdorf Ag · XETR:BEI
Beiersdorf — Investor Presentation (March 2018)
35 slides from Beiersdorf's investor presentation, Mar 1, 2018
Slide 1: Financial Analyst Meeting 2018
FINANCIAL ANALYST MEETING 2018 March 1st, 2018
Slide 2: Disclaimer
DISCLAIMER Some of the statements made in this presentation contain forward-looking information that involve a number of risks and uncertainties. Such statements are based on a number of assumptions, estimates, projections or plans that are inherently subject to significant risks, as well as uncerta
Slide 3: Growth: Strongest revenue and profit year in Beiersdorf's history
GROWTH STRONGEST REVENUE AND PROFIT YEAR IN BEIERSDORF‘S HISTORY 2017 INCREASED MARKET SHARE GAINS AND OUTPERFORMING THE MARKET Financial Analyst Meeting 2018 March 1st, 2018 | Page 3
Slide 4: Performance 2017
01 PERFORMANCE 2017 Financial Analyst Meeting 2018 March 1st, 2018 | Page 4
Slide 5: Group – Key Figures
GROUP – KEY FIGURES Jan. – Dec. 2016 Jan. – Dec. 2017 Change nominal organic mill. € mill. € in % in % Sales 6,752 7,056 4.5 5.7 EBIT 1,015 1,088 Profit after Tax 727 689 Earnings per Share in € 3.13 2.96 EBIT* 1,015 1,088 Profit after Tax* 727 689 EBIT Margin* 15.0% 15.4% Profit after Tax Margin* 1
Slide 6: Consumer – Growth Momentum
CONSUMER – GROWTH MOMENTUM NET SALES GROWTH Net Sales Growth Consumer vs. 2016 +4.7% +3.9% +3.4%* +3.0% +2.3% Q1 H1 9M FY * Consumer organic sales growth estimated without the effect of the IT attack and the resulting shift of sales Financial Analyst Meeting 2018 March 1st, 2018 | Page 6
Slide 7: Consumer – Brands Growth
CONSUMER – BRANDS GROWTH +4.5% +3.4% +3.8% +11.5% Financial Analyst Meeting 2018 March 1st, 2018 | Page 7
Slide 8: Consumer – Profitability
CONSUMER – PROFITABILITY EBIT In % of NS, Consumer, excl. special factors, FY 15.2 14.8 13.9 13.0 12.5 12.0 11.4 2011 2012 2013 2014 2015 2016 2017 Financial Analyst Meeting 2018 March 1st, 2018 | Page 8
Slide 9: Consumer – Regions
CONSUMER – REGIONS Western Europe +3.8% +2.2% +1.8% 39.3% Eastern Europe Europe Western Europe Eastern Europe 10.0% North America +5.5% +4.0% 7.4% Latin America +1.7% Americas North America Latin America 11.9% A/A/A +9.2% 31.4% Africa / Asia / Australia Financial Analyst Meeting 2018 March 1st, 2018
Slide 10: tesa – Key Figures
TESA – KEY FIGURES Jan. – Dec. 2016 Jan. – Dec. 2017 Change nominal like-for-like mill. € mill. € in % in % Sales 1,146 1,257 9.8 10.6 EBIT* 186 207 EBIT Margin* 16.2% 16.5% * Excluding special factors Financial Analyst Meeting 2018 March 1st, 2018 | Page 10
Slide 11: tesa – Segments
TESA – SEGMENTS Direct Industries +15.9% 57.7%* FY 2017 Trade Markets +3.8% 41.9%* FY 2017 * Does not round up to 100% due to ancillary businesses Financial Analyst Meeting 2018 March 1st, 2018 | Page 11
Slide 12: Strategy Update
02 STRATEGY UPDATE Financial Analyst Meeting 2018 March 1st, 2018 | Page 12
Slide 13: Blue Agenda
BLUE AGENDA BLUE AGENDA KEY DRIVERS BRAND INNOVATION MARKETS EFFICIENCY DIGITALIZATION PEOPLE Financial Analyst Meeting 2018 March 1st, 2018 | Page 13
Slide 14: Brand – Growth
BRAND – GROWTH REAL MADRID Financial Analyst Meeting 2018 March 1st, 2018 | Page 14
Slide 15: Innovation – Highlights
INNOVATION – HIGHLIGHTS SUN BODY DAX: +78% Financial Analyst Meeting 2018 March 1st, 2018 | Page 15
Slide 16: Markets – Network
MARKETS – NETWORK AFRICA ASIA AMERICAS NEW PRODUCTION GROW CAPACITY AEROSOL PRODUCTION LAGOS, NIGERIA BANGKOK, THAILAND ITATIBA, BRAZIL Financial Analyst Meeting 2018 March 1st, 2018 | Page 16
Slide 17: Blue Agenda – Blue & Beyond
BLUE & BEYOND BLUE BLUE & AGENDA BEYOND 2012 2016 Financial Analyst Meeting 2018 March 1st, 2018 | Page 17
Slide 18: Blue & Beyond
BLUE & BEYOND % of Consumer NS Financial Analyst Meeting 2018 March 1st, 2018 | Page 18
Slide 19: Digitalization
DIGITALIZATION DIGITAL MARKETING DIGITAL TECHNOLOGIES R&D APPLICATIONS E-COMMERCE DIGITAL SKILLS Financial Analyst Meeting 2018 March 1st, 2018 | Page 19
Slide 20: Guidance
03 GUIDANCE Financial Analyst Meeting 2018 March 1st, 2018 | Page 20
Slide 21: Guidance 2018
GUIDANCE 2018 Consumer Sales growth 4-5% Total Group EBIT margin slightly above previous year Sales growth around 4% EBIT margin at the same level as tesa previous year Sales growth 3-4% PAT margin significantly above previous year EBIT margin slightly below previous year 2017 data for
Slide 22: Financials
04 FINANCIALS Financial Analyst Meeting 2018 March 1st, 2018 | Page 22
Slide 23: Group Key Figures
GROUP KEY FIGURES Jan. – Dec. 2016 Jan. – Dec. 2017 Change nominal organic mill. € mill. € in % in % Group Sales 6,752 7,056 4.5 5.7 EBIT* 1,015 1,088 EBIT margin* 15.0% 15.4% Consumer Sales 5,606 5,799 3.4 4.7 EBIT* 829 881 EBIT margin* 14.8% 15.2% tesa Sales 1,146 1,257 9.8 10.6 EBIT* 186 207 EBIT
Slide 24: Financial Framework
FINANCIAL FRAMEWORK Consumer Segment ROLE PROGRESS 2017 RESULT SALES Profitable Strong growth coupled with GROWTH growth EBIT margin expansion Source of Strong efficiency gains but MARGINS funds unfavourable mix and FX MARKETING Invest & Delivered efficiency gains & BUDGET Build Brands maintained sh
Slide 25: Solid EBIT Improvements
SOLID EBIT IMPROVEMENTS CONSUMER EBIT In % of Consumer sales, excl. special factors 15.2 14.8 13.9 13.0 12.5 12.0 11.4 2011 2012 2013 2014 2015 2016 2017 Financial Analyst Meeting 2018 March 1st, 2018 | Page 25
Slide 26: Gross Margin: Stable despite Mix & FX
GROSS MARGIN: STABLE DESPITE MIX & FX GROUP GROSS MARGIN In % of Group sales FY 2017 58.9% -0.3% 58.8% -0.6% +0.8% Gross Margin Price & Costs & FX Gross Margin FY 2016 Mix Logistics FY 2017 Financial Analyst Meeting 2018 March 1st, 2018 | Page 26
Slide 27: WoC: Target Achieved
WOC: TARGET ACHIEVED CONSUMER WORKING CAPITAL Working capital in % of Consumer sales on a 12-months rolling basis 14.6 14.4 13.6 12.3 11.0 9.8 9.2 FY 2014 H1 2015 FY 2015 H1 2016 FY 2016 H1 2017 FY 2017 Financial Analyst Meeting 2018 March 1st, 2018 | Page 27
Slide 28: tesa – Sales & EBIT
TESA – SALES & EBIT Organic Sales Growth 2017 +13.5% +11.1% +10.6% +9.4%* +8.5% Q1 H1 9M FY EBIT Margin 2011 – 2017 16.9 17.0 16.8 16.2 16.5 13.0 11.6 2011 2012 2013 2014 2015 2016 2017 * tesa organic sales growth estimated without the effect of the IT attack and the resulting shift of sales Financi
Slide 29: Increasing Net Liquidity
INCREASING NET LIQUIDITY In million euros (at year end) 4,189 3,708 3,036 2,436 2,529 2,527 2,222 2011 2012 2013 2014 2015 2016 2017 Financial Analyst Meeting 2018 March 1st, 2018 | Page 29
Slide 30: Investment in Further Growth
INVESTMENT IN FURTHER GROWTH GROUP CAPITAL EXPENDITURES Capital expenditures in million euros 301 ~300 249 227 195 162 151 86 2011 2012 2013 2014 2015 2016 2017 2018e Financial Analyst Meeting 2018 March 1st, 2018 | Page 30
Slide 31: PAT to Increase Significantly in 2018
PAT TO INCREASE SIGNIFICANTLY IN 2018 GROUP PROFIT AFTER TAX In % of Group sales, excl. special factors Significant increase 10.8% 10.0% 9.8% 9.2% 8.7% 8.0% 7.7% 2011 2012 2013 2014 2015 2016 2017 2018e Financial Analyst Meeting 2018 March 1st, 2018 | Page 31
Slide 32: Guidance 2018
GUIDANCE 2018 Consumer Sales growth 4-5% Total Group EBIT margin slightly above previous year Sales growth around 4% EBIT margin at the same level as tesa previous year Sales growth 3-4% PAT margin significantly above previous year EBIT margin slightly below previous year 2017 data for
Slide 33: Questions and Answers
FINANCIAL ANALYST MEETING 2018 Questions and Answers Financial Analyst Meeting 2018 March 1st, 2018 | Page 33
Slide 34: Investor Relations Contact
INVESTOR RELATIONS CONTACT Beiersdorf Website www.Beiersdorf.com IR-Hotline Tel: +49 (0) 40 4909 5000 Fax: +49 (0) 40 4909 18 5000 Email: Investor.Relations@Beiersdorf.com Financial Analyst Meeting 2018 March 1st, 2018 | Page 34
Slide 35: Financial Analyst Meeting 2018
FINANCIAL ANALYST MEETING 2018 March 1st, 2018