Baywa Ag · XETR:BYW
Baywa — Q3 2021 Earnings Presentation
36 slides from Baywa's earnings presentation, Nov 11, 2021
Slide 1: Quarterly Financial Statements as per 30 September 2021
Quarterly Financial Statements as per 30 September 2021 Conference Call Munich, 11 November 2021 Prof. Klaus Josef Lutz, CEO Andreas Helber, CFO
Slide 2: Agenda
Agenda 1. Development of the Group 1-9/2021 2. Development of the Segments 1-9/2021 3. Group Financials 1-9/2021 4. Outlook for FY 2021 Appendix 11 November 2021 Page 2
Slide 3: Development of the Group 1-9/2021
Development of the Group 1-9/2021 Prof. Klaus Josef Lutz 11 November 2021 Page 3
Slide 4: Development of the Group 1-9/2021 - Highlights
Development of the Group Revenues 1-9/2021 - Highlights ✓ After nine months, on track for record levels – +17.1% annual forecast confirmed 14,288.7 12,197.8 ✓ Strong revenue and EBIT growth; increase in EBIT across all three operating segments: EUR m ▪ Energy (+66.9%) ▪ Building Materials(+56.6%) 1-
Slide 5: Multi-year comparison of EBIT Q3/2021
Development of the Group Q3/2021 Multi-year comparison of EBIT 48.9 47.1 25.1 Ø 27.0 17.5 -3.8 Q3 2017 Q3 2018 Q3 2019 Q3 2020 Q3 2021 11 November 2021 Page 5
Slide 6: Multi-year comparison of EBIT 1-9/2021
Development of the Group 1-9/2021 Multi-year comparison of EBIT 191.7 102.7 90.3 Ø 98.1 77.3 28.3 1-9 2017 1-9 2018 1-9 2019 1-9 2020 1-9 2021 11 November 2021 Page 6
Slide 7: Energy Segment
Energy Segment 09.05.2019 Seite 7
Slide 8: Energy Segment 1-9/2021 Market developments
Energy Segment 1-9/2021 Market developments Renewable Energies Conventional Energy Development of electricity price Germany1 Development of Brent crude oil price3 In EUR per megawatt hour In USD pro Barrel 85 90 82.7 ▪ Doubling of the crude oil 80 74.1 75 price within the space of a 70 65 year (Octo
Slide 9: Energy Segment: Renewable Energies
Energy Segment 1-9/2021: Renewable Energies Revenues and EBIT as against the previous year Renewable Energies In EUR m +66.9% >+100% 2,219.6 69.0 1,329.8 22.0 Revenues EBIT 1-9 2020 1-9 2021 1-9 2020 1-9 2021 ▪ Revenues: ∆ 20/21 EUR +889.8 million ▪ EBIT: ∆ 20/21 EUR +47.0 million ▪ Significant incr
Slide 10: Energy Segment: Conventional Energy
Energy Segment 1-9/2021: Conventional Energy Revenues and EBIT as against the previous year Conventional Energy In EUR m +10.7% -57.3% 1,465.3 26.0 1,323.6 EBIT 11.1 Revenues 1-9 2020 1-9 2021 1-9 2020 1-9 2021 ▪ Revenues: ∆ 20/21 EUR +141.7 millions ▪ EBIT: ∆ 20/21 EUR -14.9 millions ▪ Price-induce
Slide 11: Agriculture Segment
Agriculture Segment 09.05.2019 Seite 11
Slide 12: Market developments – agricultural products
Agriculture Segment 1-9/2021 Market developments – agricultural products Agri commodities price trend1 Global grain balance (excl. rice; October 2021)2 In EUR/tons In millions of tons Rape seed MTF Ending Stocks Production Consumption Wheat MTF 2750 135 280 680 115 2250 2178 2201 2270 95 2124 2128 2
Slide 13: Market development Inputs, Equipment, Global Produce
Agriculture Segment 1-9/2021 Market development Inputs, Equipment, Global Produce Input Resources (fertilisers) Agricultural Equipment Global Produce ▪ High energy prices and producer prices result in ▪ German farmers’ planned investment volume rises ▪ New Zealand: apple production 2021 substantiall
Slide 14: Agriculture Segment: Cefetra Group
Agriculture Segment 1-9/2021: Cefetra Group Revenues and EBIT as against the previous year Cefetra Group In EUR m +15.9% +73.5% 3,802.0 28.8 3,281.0 16.6 Revenues EBIT 1-9 2020 1-9 2021 1-9 2020 1-9 2021 ▪ Revenues: ∆ 20/21 EUR +521.0 million ▪ EBIT: ∆ 20/21 EUR +12.2 million ▪ Price-induced increas
Slide 15: Agriculture Segment: Agri Trade & Service
Agriculture Segment 1-9/2021: Agri Trade & Service Revenues and EBIT as against the previous year Agri Trade & Service In EUR m +12.8% >100% 3,119.9 34.0 2,764.9 Revenues EBIT 6.7 1-9 2020 1-9 2021 1-9 2020 1-9 2021 ▪ Revenues: ∆ 20/21 EUR +355.0 million ▪ EBIT: ∆ 20/21 EUR +27.3 million ▪ Price-ind
Slide 16: Agriculture Segment: Agricultural Equipment
Agriculture Segment 1-9/2021: Agricultural Equipment Revenues and EBIT as against the previous year Agricultural Equipment In EUR m +1.4% +7.9% 1,358.6 1,378.2 24.0 25.9 Revenues EBIT 1-9 2020 1-9 2021 1-9 2020 1-9 2021 ▪ Revenues: ∆ 20/21 EUR +19.6 million ▪ EBIT: ∆ 20/21 EUR +1.9 million ▪ Growth
Slide 17: Agriculture Segment: Global Produce
Agriculture Segment 1-9/2021: Global Produce Revenues and EBIT as against the previous year Global Produce In EUR m -0.3% -24.8% 711.6 709.3 30.2 22.7 Revenues EBIT 1-9 2020 1-9 2021 1-9 2020 1-9 2021 ▪ Revenues: ∆ 20/21 EUR -2.3 million ▪ EBIT: ∆ 20/21 EUR -7.5 million ▪ Revenue at year-earlier lev
Slide 18: Building Materials Segment
Building Materials Segment 09 May 2019 Page 18
Slide 19: Building Materials Segment Market developments
Building Materials Segment 1-9/2021 Market developments Order intake in the German construction industry Dynamic price trend in building materials 1-8/20211 Producer price indices of selected building materials in September 2021 2 In % vs 2020 In % vs 2020 13.3% Timber 136.6% 10.9% Reinforcing steel
Slide 20: Building Materials Segment Revenues and EBIT
Building Materials Segment 1-9/2021 Revenues and EBIT as against the previous year Building Materials In EUR m +11.8% +56.6% 1,576.5 61.4 1,410.5 39.2 Revenues EBIT 1-9 2020 1-9 2021 1-9 2020 1-9 2021 ▪ Revenues: ∆ 20/21 EUR +166.0 million ▪ EBIT: ∆ 20/21 EUR +22.2 million ▪ Revenues and earnings in
Slide 21: Innovation & Digitalisation Segment Revenues and EBIT
Innovation & Digitalisation Segment 1-9/2021 Revenues and EBIT as against the previous year Digital Farming & eBusiness In EUR m +8.6% +8.3% 8.1 8.8 EBIT Revenues -8.4 -7.7 1-9 2020 1-9 2021 1-9 2020 1-9 2021 ▪ Revenues: ∆ 20/21 EUR +0.7 million ▪ EBIT: ∆ 20/21 EUR +0.7 million ▪ Revenue growth thro
Slide 22: Group Financials
Group Financials Andreas Helber 11 November 2021 Page 22
Slide 23: Other Activities 1-9/2021
Other Activities 1-9/2021 Other Activities In EUR m -6.2% -0.2% 9.7 9.1 EBIT Revenues -53.6 -53.5 1-9 2020 1-9 2021 1-9 2020 1-9 2021 ▪ Revenues: ∆ 20/21 EUR -0.6 million ▪ EBIT: ∆ 20/21 EUR +0.1 million ▪ EBIT consists of administrative costs and consolidation effects ▪ Bank dividend able to offset
Slide 24: Financials Energy Segment Income Statement
Financials Energy Segment 1-9/2021 Income Statement In EUR m 1-9 2017 1-9 2018 1-9 2019 1-9 2020 1-9 2021 ∆20/21 (%) Revenues 2,500.5 2,583.7 2,989.3 2,653.4 3,684.9 38.9% EBITDA 87.3 9.0 51.3 82.2 127.1 54.6% % of Revenues 3.5% 0.3% 1.7% 3.1% 3.4% EBIT 63.0 -10.1 25.4 48.0 80.1 66.9% % of Revenues
Slide 25: Financials Agriculture Segment Income Statement
Financials Agriculture Segment 1-9/2021 Income Statement In EUR m 1-9 2017 1-9 2018 1-9 2019 1-9 2020 1-9 2021 ∆20/21 (%) Revenues 8,247.1 8,302.2 8,191.0 8,116.1 9,009.4 11.0% EBITDA 93.5 99.9 128.6 149.0 188.0 26.2% % of Revenues 1.1% 1.2% 1.6% 1.8% 2.1% EBIT 49.6 55.7 65.8 77.5 111.4 43.7% % of R
Slide 26: Financials Building Materials Segment Income Statement
Financials Building Materials Segment 1-9/2021 Income Statement In EUR m 1-9 2017 1-9 2018 1-9 2019 1-9 2020 1-9 2021 ∆20/21 (%) Revenues 1,218.6 1,292.6 1,275.2 1,410.5 1,576.5 11.8% EBITDA 33.2 34.3 39.6 60.0 83.2 38.7% % of Revenues 2.7% 2.7% 3.1% 4.3% 5.3% EBIT 21.6 22.3 23.3 39.2 61.4 56.6% % o
Slide 27: Group Financials Income Statement
Group Financials 1-9/2021 Income Statement In EUR m 1-9 2017 1-9 2018 1-9 2019 1-9 2020 1-9 2021 ∆20/21 (%) Revenues 11,980.3 12,196.7 12,473.0 12,197.8 14,288.7 17.1% EBITDA 188.1 127.2 223.9 264.8 371.5 40.3% % of Revenues 1.6% 1.0% 1.8% 2.2% 2.6% EBIT 90.3 28.3 77.3 102.7 191.7 86.7% % of Revenue
Slide 28: Group Financials Balance Sheet
Group Financials 1-9/2021 Balance Sheet In EUR m 1-9 2017 1-9 2018 1-9 2019 1-9 2020 FY 2020 1-9 2021 ∆20/21 (%) Total assets 7,045.2 7,618.1 8,947.2 9,413.3 9,044.4 11,086.5 22.6% Equity 1,119.8 1,333.3 1,333.1 1,280.5 1,256.1 1,871.6 49.0% Equity ratio 15.9% 17.5% 14.9% 13.6% 13.9% 16.9% Equity ra
Slide 29: Operational Outlook for FY 2021
Operational Outlook for FY 2021 Prof. Klaus Josef Lutz 11 November 2021 Page 29
Slide 30: Outlook 2021
Outlook 2021 Energy - BayWa r.e.: growth trend is ongoing; a large part of planned project sales to take place in the final quarter; positive development in trading with PV components likely to continue; additional profit potential possible from energy trading due to rising electricity prices - Conv
Slide 31: Thank you for your attention!
Thank you for your attention!
Slide 32: BayWa Share 2021
BayWa Share 2021 11 November 2021 Page 32
Slide 33: Price performance compared with the SDAX and DAX
The BayWa share 2021: Price performance compared with the SDAX and DAX BayWa SDAX DAX 1 January to 01 November 2021: 130% performance & closing prices1 BayWa 37,30€ 125% 120% 12.9% closing price 115% SDAX 110% 17.213,03* 105% 16.6% closing price 100% DAX 95% 15.806,29* 90% Jan-21 Feb-21 Mar-21 Apr-2
Slide 34: BayWa Share 2021
BayWa Share 2021 Shareholder structure (30/09/2021) BayWa share profile (30/09/2021) Stock exchanges Frankfurt, Munich, Xetra Segment Official Market / Prime Standard Security code no. 519406 and 519400 34.5% 38.3% ISIN DE0005194062 and DE0005194005 Share capital EUR 90,671,895.04 Number of shares 3
Slide 35: Investor Relations Contact, Financial Calendar 2021/22
Investor Relations Contact Josko André Pierre Radeljic Wahlen Leiter Investor Relations Junior Investor Relations Manager Telefon +49 (089) 92 22 3887 T +49 (089) 92 22 3879 Mobil +49 162 2828671 andrepierre.wahlen@baywa.de josko.radeljic@baywa.de Financial Calendar 2021/22 11th 2022 25th 5th 24th N
Slide 36: United for success.
United for success.