Bayer Ag · XETR:BAYN
Bayer — Q1 2022 Earnings Presentation
26 slides from Bayer's earnings presentation, May 10, 2022
Slide 1: Investor Conference Call Q1 2022 Results
Investor Conference Call /////////// Q1 2022 Results May 10th, 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: Q1 2022 Results: Business Update
Q1 2022 Results Business Update /////////// Werner Baumann, CEO
Slide 4: Very Successful Start into the Year
Very Successful Start into the Year 1 Our Priority: Access to Health and Agricultural Products 2 Substantial Growth in Q1 3 Progress in Innovation 4 Bayer Q1 2022 Investor Conference Call /// May 10th, 2022
Slide 5: Variables for the Remainder of the Year
Variables for the Remainder of the Year 1 Supply Chain Stability, Energy Supply Security 2 Inflationary Cost Pressure 3 Pricing 5 Bayer Q1 2022 Investor Conference Call /// May 10th, 2022
Slide 6: Q1 2022 Results: Group Performance & Outlook
Q1 2022 Results Group Performance & Outlook /////////// Wolfgang Nickl, CFO
Slide 7: Significant Expansion of Sales and Earnings
Significant Expansion of Sales and Earnings Sales EBITDA Core EPS Free Cash Flow In million €, ∆% yoy In million €, before special items In €, Cont. Operations In million € +19% (+14% cpa) 14.639 12.328 Q1'21 Q1'22 +28% +36% 3,53 5.251 4.118 2,59 -1,187 33.4% 35.9% -3,226 Q1'21 Q1'22 Q1'21 Q1'22 Q1'
Slide 8: Crop Science: Outstanding Results
Crop Science: Outstanding Results Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • Double-digit sales growth across all regions +27% • Herbicides (+60%) as single largest growth Volume (+22% cpa) contributor +6% 8.447 • Strong price in
Slide 9: Pharmaceuticals: Continued Volume Expansion and Growth Investments
Pharmaceuticals: Continued Volume Expansion and Growth Investments Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • EyleaTM (+14%) with market share gains Volume and strong growth in Europe and China +4% +6% • XareltoTM (-5%) impacted
Slide 10: Consumer Health: Strong Growth Across Regions and Categories
Consumer Health: Strong Growth Across Regions and Categories Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • Allergy & Cold (+39%) rebound after COVID-19 hit in prior year Volume +12% • Nutritionals (+15%) continue growth +21% (+17% c
Slide 11: FY 2022: Outlook Confirmed
FY 2022: Outlook Confirmed Outlook Estimated at constant currencies1 currency impact2 Key Assumptions Net Sales ~ €46bn ~ +€2bn • Represents sales growth of ~5% cpa • Margin expansion despite inflationary cost pressure; EBITDA margin offset by pricing and efficiency measures ~26% ~ -0.4%pts (before
Slide 12: Investor Conference Call Q1 2022 Results
Investor Conference Call /////////// Q1 2022 Results May 10th, 2022 Werner Baumann, CEO Wolfgang Nickl, CFO
Slide 13: FY 2022: Other Group KPIs Outlook
FY 2022: Other Group KPIs Outlook Outlook Estimated at constant currencies1 currency impact2 Special items (EBITDA) ~ €1.0bn not material Depreciation and amortization (clean) ~ €3.6bn +€0.1bn of which for intangible assets (clean) ~ €2.1bn +€0.1bn Core financial result ~ -€1.5bn not material Core t
Slide 14: FY 2022: Divisional Outlook
FY 2022: Divisional Outlook Sales Growth 2022 1 EBITDA-margin 2022 1 (cpa) (before special items) Crop Science ~ 7% 25% - 26% Pharmaceuticals 3% - 4% ~ 32% Consumer Health 4% - 5% 22% - 23% 1 Reflects our 2022 plan at the average actual currencies for 2021; cpa: currency and portfolio adjusted; CS a
Slide 15: Crop Science: Set to Perform and Transform in 2022
Crop Science: Set to Perform and Transform in 2022 Sales Growth EBITDA-margin 2022 1 2022 1 (cpa) (before special items) Crop ~ 7% 25% - 26% Science Key Assumptions • Strong commodity prices expected to continue; 180-182m U.S. corn and soybean acres anticipated • Expected stronger than PY pricing in
Slide 16: Pharmaceuticals: Advances Launches and Pipeline in 2022
Pharmaceuticals: Advances Launches and Pipeline in 2022 Sales Growth EBITDA-margin 2022 1 2022 1 (cpa) (before special items) Pharmaceuticals 3% - 4% ~ 32% Key Assumptions • New launches to increasingly contribute to topline, EyleaTM expected to grow mid-single digit • Volume growth for XareltoTM to
Slide 17: Consumer Health: Continued Growth and Innovation Focus in 2022
Consumer Health: Continued Growth and Innovation Focus in 2022 Sales Growth EBITDA-margin 2022 1 2022 1 (cpa) (before special items) Consumer 4% - 5% 22% - 23% Health Key Assumptions • Growth expected at the high end of mid-term guidance of 3%-5% • Growth dynamics to be weighted towards HY1 with low
Slide 18: Q1 2022: Core EPS to EPS Bridge
Q1 2022: Core EPS to EPS Bridge in € -0.72 0.04 -0.07 0.57 3.53 3.35 Core EPS Q1'2022 Depreciation & Special items Special items Tax effect EPS (total) Q1'2022 Amortization (EBITDA) financial result/ on adjustments (on IP & PPE) taxes 18 Bayer Q1 2022 Investor Conference Call /// May 10th, 2022
Slide 19: Q1 2022: Key KPIs Bayer Group
Q1 2022: Key KPIs Bayer Group Q1 2021 Q1 2022 Net Sales 12,328 14,639 EBITDA before special items 4,118 5,251 Special items 51 41 Reported EBITDA 4,169 5,292 Depreciation & Amortization -1,086 -1,080 Reported EBIT 3,083 4,212 Amortization and impairment losses / loss reversals on 672 699 intangible
Slide 20: Q1 2022: Key KPIs by Division
Q1 2022: Key KPIs by Division Crop Science Pharmaceuticals Consumer Health Reconciliation Group [€ million] Q1'21 Q1'22 Q1'21 Q1'22 Q1'21 Q1'22 Q1'21 Q1'22 Q1'21 Q1'22 Sales 6,646 8,447 4,365 4,624 1,252 1,512 65 56 12,328 14,639 Sales by region: Europe / Middle East / Africa 1,881 2,133 1,695 1,835
Slide 21: Innovation
Innovation 21 Bayer Q1 2022 Investor Conference Call /// May 10th, 2022
Slide 22: Pharmaceuticals – Overview Development Portfolio (as of May 10, 2022)
Pharmaceuticals – Overview Development Portfolio (as of May 10, 2022) Phase I (21) Phase II (12) Phase III (10) Elimusertib (ATR Inhibitor) Regorafenib (combi Nivolumab) Darolutamide (AR Inhibitor) /// Solid tumors (recurrent or metastatic) /// Prostate Cancer (mHSPC) (ARANOTE) SLFN12 Complex-Induce
Slide 23: Pharmaceuticals – R&D Developments since last Update on March 1, 2022
Pharmaceuticals – R&D Developments since last Update on March 1, 2022 • Applications submitted in the US (priority review granted), Europe, Japan and China for approval Nubeqa (Darolutamide) in mHSPC • Ongoing strong launch momentum in the US Kerendia (Finerenone) • Received approval in Japan for th
Slide 24: Crop Science Division: R&D Pipeline – Seed & Traits
Crop Science Division: 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 Tra
Slide 25: Crop Science Division: R&D Pipeline (as of February 2022)
Crop Science Division: 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)
Slide 26: Consumer Health Division: Accelerating Growth with Innovation
Consumer Health Division: 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 Expa