Baywa Ag · XETR:BYW
Baywa — Q1 2023 Earnings Presentation
34 slides from Baywa's earnings presentation, May 11, 2023
Slide 1: Quarterly Financial Statements as per 31 March 2023
Quarterly Financial Statements as per 31 March 2023 Conference Call Munich, Germany, 11 May 2023 Marcus Pöllinger, CEO Andreas Helber, CFO
Slide 2: Agenda
Agenda 01 Highlights 1-3/2023 02 Business Development of the Segments in 1-3/2023 and Operational Outlook 2023 03 Group Financials 1-3/2023 04 Appendix 11/05/2023 | 2
Slide 3: Highlights 1-3/2023
01 Highlights 1-3/2023 Marcus Pöllinger 11/05/2023 | 3
Slide 4: Highlights
01 | Highlights 1-3/2023 Highlights ▪ Strong start to the year Revenues Revenues and EBIT significantly above the long-term average In EUR m +0.4% 6,257.0 6,280.4 ▪ Slight revenue growth Settlement of highly priced grain contracts from the 2022 harvest and higher 4,066.6 price level for agricultural
Slide 5: Development of the Group 1-3/2023: Multi-year comparison of EBIT
01 | Highlights 1-3/2023 Development of the Group 1-3/2023 Multi-year comparison of EBIT In EUR m 144.9 91.8 45.1 Ø 48.0 -13.8 -27.8 Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 11/05/2023 | 5
Slide 6: Business Development of the Segments in 1-3/2023 and Operational Outlook 2023
02 Business Development of the Segments in 1-3/2023 and Operational Outlook 2023 Marcus Pöllinger 11/05/2023 | 6
Slide 7: Energy Key Figures 1-3/2023
02 | Energy Business Unit – Development in 1-3/2023 Business Unit Segment Segment Energy Renewable Energy Energies Key Figures 1-3/2023 11/05/2023 | 7
Slide 8: Market Developments Energy
02 | Energy Business Unit – Development in 1-3/2023 Market Developments Energy RENEWABLE ENERGIES ENERGY Global capacity installation – forecast 2023 by region1 Fuel costs in Germany3 In GW APAC AMER EMEA 400 317 (+18%) 300 188 Price in ct/kWh 200 Gas 12.74 ct/kWh 109 (+3%) 100 66 53 Heating oil 9.7
Slide 9: Renewable Energies Segment Revenues and EBIT vs previous year
02 | Energy Business Unit – Development in 1-3/2023 Renewable Energies Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 22/23 EUR -94.0 million ▪ EBIT: ∆ 22/23 EUR -10.9 million _________________________________________________________________________________ ▪ Revenues and result below prev
Slide 10: Energy Segment Sales and EBIT vs previous year
02 | Energy Business Unit – Development in 1-3/2023 Energy Segment Sales and EBIT vs previous year ▪ Revenues: ∆ 22/23 EUR -16.0 million ▪ EBIT: ∆ 22/23 EUR -3.9 million _________________________________________________________________________________ ▪ Volume- and price-induced decline in revenues
Slide 11: Agriculture Key Figures 1-3/2023
02 | Agriculture Business Unit – Development in 1-3/2023 Business Unit Segment Segment Agriculture Cefetra Agri Trade Group & Service Key Figures 1-3/2023 Segment Segment Agricultural Global Equipment Produce 11/05/2023 | 11
Slide 12: Market Developments Products I
02 | Agriculture Business Unit – Development in 1-3/2023 Market Developments Products I PRICE TREND OF WHEAT AND RAPESEED (EURO/MT) 1 – PRICES AT LOWEST LEVEL SINCE 2021 ▪ H1 2022: Concerns about the availability of grain due to Wheat (MATIF) the war in Ukraine trigger partly extreme price Rapeseed
Slide 13: Market Developments Products II
02 | Agriculture Business Unit – Development in 1-3/2023 Market Developments Products II GLOBAL GRAIN BALANCE (EXCL. RICE; APRIL 2023) 1 in million of tons Changes in inventories Production Consumption 2750 135 115 2250 2.171 2.124 2.129 2.216 2.283 2.225 2.180 95 1.998 1.996 64 2.041 75 59 1750 53
Slide 14: Market development Inputs, Equipment, Fruits
02 | Agriculture Business Unit – Development in 1-3/2023 Market development Inputs, Equipment, Fruits INPUT RESOURCES AGRICULTURAL EQUIPMENT FRUITS ▪ Crop protection and seed: ▪ New tractor registrations in Germany up 2.6% ▪ New Zealand: tropical storm causes crop delay to application due to weather
Slide 15: Cefetra Group Segment Revenues and EBIT vs previous year
02 | Agriculture Business Unit – Development in 1-3/2023 Cefetra Group Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 22/23 EUR +11.8 million ▪ EBIT: ∆ 22/23 EUR +0.0 million _________________________________________________________________________________ ▪ Revenues and profit at high yea
Slide 16: Agri Trade & Service Segment Revenues and EBIT vs previous year
02 | Agriculture Business Unit – Development in 1-3/2023 Agri Trade & Service Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 22/23 EUR +86.9 million ▪ EBIT: ∆ 22/23 EUR -27.7 million _________________________________________________________________________________ ▪ Revenues up slightly y/
Slide 17: Agricultural Equipment Segment Revenues and EBIT vs previous year
02 | Agriculture Business Unit – Development in 1-3/2023 Agricultural Equipment Segment Revenues and EBIT vs previous year ▪ Revenues : ∆ 22/23 EUR +63.9 million ▪ EBIT: ∆ 22/23 EUR +11.1 million _________________________________________________________________________________ ▪ Price-induced growth
Slide 18: Global Produce Segment Revenues and EBIT vs previous year
02 | Agriculture Business Unit – Development in 1-3/2023 Global Produce Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 22/23 EUR +32.8 million ▪ EBIT: ∆ 22/23 EUR -19.9 million _________________________________________________________________________________ ▪ Volume-induced increase in re
Slide 19: Building Materials Key Figures 1-3/2023
02 | Building Materials Business Unit – Development in 1-3/2023 Business Unit Segment Building Building Materials Materials Key Figures 1-3/2023 11/05/2023 | 19
Slide 20: Market Developments – Building Materials
02 | Building Materials Business Unit – Development in 1-3/2023 Market Developments – Building Materials BUILDING PERMISSIONS IN GERMANY IN 2023 1 IN 1,000 PRICE TRENDS OF SELECTED BUILDING MATERIALS 2 March 2023 vs March 2022 30% -9.6% 355 21% 321 46 192 -7% 84 -21% -25% 2022 Private Apartment Othe
Slide 21: Building Materials Segment Revenues and EBIT vs previous year
02 | Building Materials Business Unit – Development in 1-3/2023 Building Materials Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 22/23 EUR -63.0 million ▪ EBIT: ∆ 22/23 EUR -7.9 million _________________________________________________________________________________ ▪ Volume- and price-i
Slide 22: Group Financials 1-3/2023
03 Group Financials 1-3/2023 Andreas Helber 11/05/2023 | 22
Slide 23: Other Activities 1-3/2023
03 | Group Financials 1-3/2023 Other Activities 1-3/2023 ▪ Revenues: ∆ 22/23 EUR +0.7 million ▪ EBIT: ∆ 22/23 EUR +4.4 million _________________________________________________________________________________ ▪ EBIT consists of administrative costs and consolidation Revenues in EUR m EBIT in EUR m e
Slide 24: Financials Energy Business Unit Income Statement
03 | Group Financials 1-3/2023 Financials Energy Business Unit Income Statement In EUR m Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 ∆22/23 (in %) Revenues 964.1 869.7 1,039.4 2,242.7 2,132.7 -4.9% EBITDA 16.6 6.9 51.5 90.6 79.1 -12.7% % of Revenues 1.7% 0.8% 5.0% 4.0% 3.7% EBIT 6.9 -4.0 37.0 72.3 57.5
Slide 25: Financials Agriculture Business Unit Income Statement
03 | Group Financials 1-3/2023 Financials Agriculture Business Unit Income Statement In EUR m Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 ∆22/23 (in %) Revenues 2,823.8 2,660.4 2,647.5 3,532.3 3,727.7 5.5% EBITDA 30.2 33.6 56.2 119.9 84.8 -29.3% % of Revenues 1.1% 1.3% 2.1% 3.4% 2.3% EBIT 6.1 9.9 31.2 9
Slide 26: Financials Building Materials Business Unit Income Statement
03 | Group Financials 1-3/2023 Financials Building Materials Business Unit Income Statement In EUR m Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 ∆22/23 (in %) Revenues 285.8 333.7 373.0 477.4 414.4 -13.2% EBITDA -10.4 -5.3 1.3 6.8 0.0 -100,0% % of Revenues -3.6% -1.6% 0.3% 1.4% 0.0% EBIT -14.6 -12.0 -5.
Slide 27: Income Statement
03 | Group Financials 1-3/2023 Income Statement In EUR m Q1 2019 Q1 2020 Q1 2021 Q1 2022 Q1 2023 ∆22/23 (in %) Revenues 4,079.6 3,870.1 4,066.6 6,257.0 6,280.4 0.4% EBITDA 41.2 25.1 103.0 206.5 158.8 -23.1% % of Revenues 1.0% 0.6% 2.5% 3.3% 2.5% EBIT -13.8 -27.8 45.1 144.9 91.8 -36.6% % of Revenues
Slide 28: Balance Sheet
03 | Group Financials 1-3/2023 Balance Sheet In EUR m Q1 2019 Q1 2020 Q1 2021 Q1 2022 FY 2022 Q1 2023 ∆22/23 (%) Total assets 8,799.3 9,244.4 9,908.0 13,142.3 12,976.4 13,471.0 3.8% Equity 1,362.8 1,254.9 1,822.7 1,896.4 1,909.0 1,917.7 0.5% Equity ratio 15.5% 13.6% 18.4% 14.4% 14.7% 14.2% Equity ra
Slide 29: Thank you for your attention
Thank you for your attention Munich, Germany, 11 May 2023 Marcus Pöllinger, CEO Andreas Helber, CFO
Slide 30: Appendix
Appendix BayWa 11/05/2023 | 30
Slide 31: BayWa Share 2022/23: Price performance compared with the SDAX and DAX
04 | Appendix BayWa Share 2022/23: Price performance compared with the SDAX and DAX BayWa SDAX DAX 1 January 2022 to 5 May 2023: 130% performance & closing price1 120% BayWa 38.40€ 110% -0.4% closing price 100% SDAX 13,806.33* 90% -15.9% closing price 80% 70% DAX 15,961.02* 60% 0.5% closing price Ja
Slide 32: BayWa Share 2023
04 | Appendix BayWa Share 2023 Shareholder structure (31/03/2023) BayWa share profile (31/03/2023) Stock exchanges Frankfurt, Munich, Xetra Segment Official Market / Prime Standard 34.1% Security code No. 519406 and 519400 38.3% ISIN DE0005194062 and DE0005194005 Share capital EUR 91,807,715.84 Numb
Slide 33: Investor Relations Contact, Financial Calendar 2023
04 | Appendix Investor Relations Contact Financial Calendar 2023 11 6 3 May June August ANALYST ANNUAL ANALYST CONFERENCE GENERAL MEETING, CONFERENCE Josko Radeljic André Pierre Wahlen Katrin Kolb CALL Q1 ICM, Munich CALL Q2 Head of Investor Relations Investor Relations Manager Investor Relations Ma
Slide 34: 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