Baywa Ag · XETR:BYW
Baywa — Q3 2022 Earnings Presentation
36 slides from Baywa's earnings presentation, Nov 10, 2022
Slide 1: Quarterly Financial Statements as per 30 September 2022
Quarterly Financial Statements as per 30 September 2022 Conference Call Munich, 10 November 2022 Prof. Klaus Josef Lutz, CEO Andreas Helber, CFO
Slide 2: Agenda
Agenda 01 Highlights 1-9/2022 02 Business Development of the Segments in 1-9/2022 and Operational Outlook 2022 03 Group Financials 1-9/2022 04 Appendix 10/11/2022 | 2
Slide 3: Highlights 1-9/2022
01 Highlights 1-9/2022 Prof. Klaus Josef Lutz 10/11/2022 | 3
Slide 4: Highlights 1-9/2022
01 | Highlights 1-9/2022 Highlights Revenues1 20,073.0 ▪ Profit forecast (EBIT) 2022 raised again to between EUR m 14,124.8 EUR 475 and EUR 525 million ▪ Best third quarter in the company’s history – increase in earnings +42% across all three operating business units 1-9 2021 1-9 2022 ▪ Revenue grow
Slide 5: Development of the Group in the third quarter of 2022
01 | Highlights 1-9/2022 Development of the Group in the third quarter of 2022 Multi-year comparison of EBIT In EUR m 131.3 48.9 47.1 Ø 50 25.1 -3.8 Q3 2018 Q3 2019 Q3 2020 Q3 2021 Q3 2022 10/11/2022 | 5
Slide 6: Development of the Group 1-9/2022
01 | Highlights 1-9/2022 Development of the Group 1-9/2022 Multi-year comparison of EBIT In EUR m 459.8 191.7 Ø 172 102.7 77.3 28.3 1-9 2018 1-9 2019 1-9 2020 1-9 2021 1-9 2022 10/11/2022 | 6
Slide 7: Energy
02 | Energy Business Unit – Development in 1-9/2022 Business Unit Segment Segment Energy Renewable Energy Energies Key Figures 1-9/2022 10/11/2022 | 7
Slide 8: Renewable Energies – Market Developments
02 | Energy Business Unit – Development in 1-9/2022 Renewable Energies – Market Developments RENEWABLE ENERGIES Global capacity installation – forecast 2022 and 20231 Average electricity price on EPEX spot market in Germany2 In GW Offshore-Wind Onshore-Wind Solar In EUR per megawatt hour 465 379 450
Slide 9: Energy – Market Developments
02 | Energy Business Unit – Development in 1-9/2022 Energy – Market Developments ENERGY Average heating oil price in Germany1 Fuel costs in Germany2 Gas 20.09 ct/kWh Heating oil price in cent per litre 1-10/2022: +86% FY 2021: +41% 170 Heating oil 16.40 ct/kWh 2022 110 2021 Pellets 14.88 ct/kWh Pric
Slide 10: Renewable Energies Segment: Revenues and EBIT vs previous year
02 | Energy Business Unit – Development in 1-9/2022 Renewable Energies Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +2,298.8 million ▪ EBIT: ∆ 21/22 EUR +92.7 million _________________________________________________________________________________ ▪ Significant increase in rev
Slide 11: Sale of the largest floating PV project in Europe
02 | Energy Business Unit – Development in 1-9/2022 Renewable Energies Segment Sale of the largest floating PV project in Europe FLOATING PV PROJEKT SELLINGEN, NETHERLANDS _____________________________________________ ▪ Status: Closed 09/2022 ▪ Capacity: 41.1 MWp ▪ Supplied households: 12,000 10/11/
Slide 12: Energy Segment: Sales and EBIT vs previous year
02 | Energy Business Unit – Development in 1-9/2022 Energy Segment Sales and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +967.3 million ▪ EBIT: ∆ 21/22 EUR +33.7 million _________________________________________________________________________________ ▪ Price-induced revenue and profit growth Reve
Slide 13: Agriculture
02 | Agriculture Business Unit – Development in 1-9/2022 Business Unit Segment Segment Agriculture Cefetra Global Group Produce Key Figures 1-9/2022 Segment Segment Agri Trade Agricultural & Service Equipment 10/11/2022 | 13
Slide 14: Market Developments: Agricultural Products I
02 | Agriculture Business Unit – Development in 1-9/2022 Market Developments: Agricultural Products I GLOBAL GRAIN BALANCE (EXCL. RICE, OCTOBER 2022) 1 in million of tons Changes in inventories Production Consumption 2750 135 115 2250 2.171 2.124 2.129 2.216 2.283 2.241 2.180 95 1.998 1.996 64 2.041
Slide 15: Market Developments: Agricultural Products II
02 | Agriculture Business Unit – Development in 1-9/2022 Market Developments: Agricultural Products II AGRI COMMODITIES PRICE TREND 1 in EUR/tons in EUR/tons Rapeseed Matif Soy meal CBT Wheat Matif Corn CBT Wheat: +28% y/y Soy meal: +47% y/y 450 Corn: +54% y/y 1150 Rapeseed: -4% y/y 1050 400 950 350
Slide 16: Operating Resources and Fruit
02 | Agriculture Business Unit – Development in 1-9/2022 Operating Resources and Fruit OPERATING RESOURCES FRUIT ▪ Higher energy costs and economic sanctions against Russia trigger ▪ NZ apple production 2022; losses in volume and quality due to weather further price increases for operating resources
Slide 17: Cefetra Group Segment: Revenues and EBIT vs previous year
02 | Agriculture Business Unit – Development in 1-9/2022 Cefetra Group Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +1,007.8 million ▪ EBIT: ∆ 21/22 EUR +24.0 million _________________________________________________________________________________ ▪ Price-induced increase in r
Slide 18: Agri Trade & Service Segment: Revenues and EBIT vs previous year
02 | Agriculture Business Unit – Development in 1-9/2022 Agri Trade & Service Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +1,297.3 million ▪ EBIT: ∆ 21/22 EUR +118.3 million _________________________________________________________________________________ ▪ Price-induced incre
Slide 19: Agricultural Equipment Segment: Revenues and EBIT vs previous year
02 | Agriculture Business Unit – Development in 1-9/2022 Agricultural Equipment Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +162.1 million ▪ EBIT: ∆ 21/22 EUR +21.6 million _________________________________________________________________________________ ▪ Growth in revenues a
Slide 20: Global Produce Segment: Revenues and EBIT vs previous year
02 | Agriculture Business Unit – Development in 1-9/2022 Global Produce Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR -5.5 million ▪ EBIT: ∆ 21/22 EUR -4.4 million _________________________________________________________________________________ ▪ Price- and volume-induced decli
Slide 21: Building Materials
02 | Building Materials Business Unit – Development in 1-9/2022 Business Unit Segment Building Building Materials Materials Key Figures 1-9/2022 10/11/2022 | 21
Slide 22: Building materials – Market Developments
02 | Building Materials Business Unit – Development in 1-9/2022 Building materials – Market Developments CONSTRUCTION OUTPUT TREND BAROMETER DYNAMIC PRICE TREND IN BUILDING MATERIALS Price trends of selected building materials 4.5% Mortgage rates 32.8% 14.4% Rising price of real 10.6% +16.5% Inflati
Slide 23: Building Materials Segment: Revenues and EBIT vs previous year
02 | Building Materials Business Unit – Development in 1-9/2022 Building Materials Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +219.1 million ▪ EBIT: ∆ 21/22 EUR +4.4 million _________________________________________________________________________________ ▪ Sales and profit i
Slide 24: Group Financials 1-9/2022
03 Group Financials 1-9/2022 Andreas Helber 10/11/2022 | 24
Slide 25: Other Activities 1-9/2022
03 | Group Financials 1-9/2022 Other Activities 1-9/2022 ▪ Revenues: ∆ 21/22 EUR +2.3 million ▪ EBIT: ∆ 21/22 EUR -21.6 million _________________________________________________________________________________ ▪ EBIT consists of administrative costs and consolidation Revenues in EUR m EBIT in EUR m
Slide 26: Financials Energy Business Unit: Income Statement
03 | Group Financials 1-9/2022 Financials Energy Business Unit Income Statement In EUR m 1-9 2018 1-9 2019 1-9 2020 1-9 2021 1-9 2022 ∆21/22 (in %) Revenues 2,583.7 2,989.3 2,653.4 3,684.9 6,951.0 88.6% EBITDA 9.0 51.3 82.2 127.1 266.0 > 100% % of Revenues 0.3% 1.7% 3.1% 3.4% 3.8% EBIT -10.1 25.4 48
Slide 27: Financials Agriculture Business Unit: Income Statement
03 | Group Financials 1-9/2022 Financials Agriculture Business Unit Income Statement In EUR m 1-9 2018 1-9 2019 1-9 2020 1-9 20211 1-9 2022 ∆21/22 (in %) Revenues 8,302.2 8,191.0 8,116.1 8,845.5 11,307.2 27.8% EBITDA 99.9 128.6 149.0 188.0 350.9 86.6% % of Revenues 1.2% 1.6% 1.8% 2.1% 3.1% EBIT 55.7
Slide 28: Financials Building Materials Business Unit: Income Statement
03 | Group Financials 1-9/2022 Financials Building Materials Business Unit Income Statement In EUR m 1-9 2018 1-9 2019 1-9 2020 1-9 2021 1-9 2022 ∆21/22 (in %) Revenues 1,292.6 1,275.2 1,410.5 1,576.5 1,795.6 13.9% EBITDA 34.3 39.6 60.0 83.2 90.6 8.9% % of Revenues 2.7% 3.1% 4.3% 5.3% 5.0% EBIT 22.3
Slide 29: Income Statement
03 | Group Financials 1-9/2022 Income Statement In EUR m 1-9 2018 1-9 2019 1-9 2020 1-9 20211 1-9 2022 ∆21/22 (in %) Revenues 12,196.7 12,473.0 12,197.8 14,124.8 20,073.0 42.1% EBITDA 127.2 223.9 264.8 371.5 652.9 75.7% % of Revenues 1.0% 1.8% 2.2% 2.6% 3.3% EBIT 28.3 77.3 102.7 191.7 459.8 > 100% %
Slide 30: Balance Sheet
03 | Group Financials 1-9/2022 Balance Sheet In EUR m 1-9 2018 1-9 2019 1-9 2020 1-9 2021 FY 2021 1-9 2022 ∆21/22 (%) Total assets 7,618.1 8,947.2 9,413.3 11,086.5 11,771.4 13,738.4 16.7% Equity 1,333.3 1,333.1 1,280.5 1,871.6 1,816.1 1,856.5 2.2% Equity ratio 17.5% 14.9% 13.6% 16.9% 15.4% 13.5% Equ
Slide 31: Thank you for your attention
Thank you for your attention Munich, 10 November 2022 Prof. Klaus Josef Lutz, CEO Andreas Helber, CFO
Slide 32: Appendix
Appendix BayWa 10/11/2022 | 32
Slide 33: BayWa Share 2022: Price performance compared with the SDAX and DAX
04 | Appendix BayWa Share 2022: Price performance compared with the SDAX and DAX 130% BayWa SDAX DAX 1 January 2022 to 2 November 2022: performance & closing price1 120% BayWa 45.20€ 110% 17.3% closing price 100% 90% SDAX 11,304.60* -31,1% closing price 80% 70% DAX 13,256.74* 60% Jan-22 Feb-22 Mar-2
Slide 34: BayWa Share 2022
04 | Appendix BayWa Share 2022 Shareholder structure (30/09/2022) BayWa share profile (30/09/2022) Stock exchanges Frankfurt, Munich, Xetra Segment Official Market / Prime Standard 34.3% Security code no. 519406 and 519400 38.2% ISIN DE0005194062 and DE0005194005 Share capital EUR 91,250,199.04 Numb
Slide 35: Investor Relations Contact / Finanzkalender 2022/23
04 | Appendix Investor Relations Contact Finanzkalender 2022/23 10. 2023 30. 10. November March May ANALYST VIRTUAL ANALYST CONFERENCE ANALYST CONFERENCE Josko André Pierre CALL Q3 CONFERENCE CALL Q1 Radeljic Wahlen Head of Investor Relations Investor Relations Manager Tel.: +49 (089) 92 22 3887 Tel
Slide 36: Disclaimer
04 | Appendix Disclaimer Forward-looking statements and guidance This presentation includes forward-looking statements. These statements are based on current assessments and forecasts of management and draw on information currently available. These forward-looking statements are therefore not a guar