Baywa Ag · XETR:BYW
Baywa — H1 2022 Earnings Presentation
35 slides from Baywa's earnings presentation, Aug 4, 2022
Slide 1: Interim Report First Half 2022 Conference Call
Interim Report First Half 2022 Conference Call Munich, 4 August 2022 Prof. Klaus Josef Lutz, CEO Andreas Helber, CFO
Slide 2: Agenda
Agenda 01 Highlights 1-6/2022 02 Business Development of the Segments in 1-6/2022 and Operational Outlook 2022 03 Group Financials 1-6/2022 04 Appendix 4/8/2022 | 2
Slide 3: Highlights 1-6/2022
01 Highlights 1-6/2022 Prof. Klaus Josef Lutz 4/8/2022 | 3
Slide 4: Highlights
01 | Highlights 1-6/2022 Highlights Revenues1 12,913.9 ▪ Outstanding increase in earnings across all three operating business units EUR m 9,293.6 ▪ Another best half-year result in the company’s history +39% ▪ EBIT growth stronger than sales; EBIT margin above average H1 2021 H1 2022 ▪ Segments bene
Slide 5: Development of the Group in the second quarter of 2022
01 | Highlights 1-6/2022 Development of the Group in the second quarter of 2022 Multi-year comparison of EBIT In EUR m 183.6 99.5 Ø 101 81.6 73.1 66.0 Q2 2018 Q2 2019 Q2 2020 Q2 2021 Q2 2022 4/8/2022 | 5
Slide 6: Development of the Group 1-6/2022
01 | Highlights 1-6/2022 Development of the Group 1-6/2022 Multi-year comparison of EBIT In EUR m 328.5 144.6 Ø 122 52.2 53.8 32.1 H1 2018 H1 2019 H1 2020 H1 2021 H1 2022 4/8/2022 | 6
Slide 7: Energy: Key Figures 1-6/2022
02 | Energy Business Unit – Development in 1-6/2022 Business Unit Segment Segment Energy Renewable Energy Energies Key Figures 1-6/2022 4/8/2022 | 7
Slide 8: Market Developments
02 | Energy Business Unit – Development in 1-6/2022 Market Developments RENEWABLE ENERGIES ENERGY Global capacity installation – forecast 20221 Development of heating oil in Germany3 In GW Solar onshore wind energy 330 Heating oil in cent per litre 170 H1 2022: +69% 265 2022 GJ 2021: +41% 199 140 17
Slide 9: Renewable Energies Segment
02 | Energy Business Unit – Development in 1-6/2022 Renewable Energies Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +1,382.5 million ▪ EBIT: ∆ 21/22 EUR +34.2 million _________________________________________________________________________________ ▪ Significant increase in rev
Slide 10: Energy Segment
02 | Energy Business Unit – Development in 1-6/2022 Energy Segment Sales and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +584.8 million ▪ EBIT: ∆ 21/22 EUR +14.1 million _________________________________________________________________________________ ▪ Price-induced revenue and profit growth Reve
Slide 11: Agriculture: Key Figures 1-6/2022
02 | Agriculture Business Unit – Development in 1-6/2022 Business Unit Segment Segment Agriculture Cefetra Global Group Produce Key Figures 1-6/2022 Segment Segment Agri Trade Agricultural & Service Equipment 4/8/2022 | 11
Slide 12: Market Developments: Agricultural Products I
02 | Agriculture Business Unit – Development in 1-6/2022 Market Developments: Agricultural Products I GLOBAL GRAIN BALANCE (EXCL. RICE; JULY 2022) 1 in million of tons Changes in inventories Production Consumption 2750 135 115 2250 2171 2124 2129 2215 2283 2249 2180 95 1996 1998 2041 64 75 59 1750 5
Slide 13: Market Developments: Agricultural Products II
02 | Agriculture Business Unit – Development in 1-6/2022 Market Developments: Agricultural Products II AGRI COMMODITIES PRICE TREND 1 in EUR/tons Wheat MTF Corn CBOT in EUR/tons Rapeseed MTF Soy meal CBOT 430 Wheat: +68% Soy meal: +41% 1000 Corn: +18% Rapeseed: +30% 360 850 700 290 550 220 400 150 2
Slide 14: Market development Inputs – Fertilizers
02 | Agriculture Business Unit – Development in 1-6/2022 Market development Inputs – Fertilizers FERTILIZERS PRICE TREND Nitrogen1 Potash2 Phosphates3 1000 1200 1200 Price Expectations (€/ton) 900 800 1000 1000 700 800 800 600 500 600 600 400 400 400 300 200 200 200 100 0 0 0 _______________________
Slide 15: Cefetra Group Segment
02 | Agriculture Business Unit – Development in 1-6/2022 Cefetra Group Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +481.6 million ▪ EBIT: ∆ 21/22 EUR +16.5 million _________________________________________________________________________________ ▪ Price-induced increase in rev
Slide 16: Agri Trade & Service Segment
02 | Agriculture Business Unit – Development in 1-6/2022 Agri Trade & Service Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +853.8 million ▪ EBIT: ∆ 21/22 EUR +95.2 million _________________________________________________________________________________ ▪ Price-induced increase
Slide 17: Agricultural Equipment Segment
02 | Agriculture Business Unit – Development in 1-6/2022 Agricultural Equipment Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +153.1 million ▪ EBIT: ∆ 21/22 EUR +20.4 million _________________________________________________________________________________ ▪ Growth in sales and
Slide 18: Global Produce Segment
02 | Agriculture Business Unit – Development in 1-6/2022 Global Produce Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR -2.2 million ▪ EBIT: ∆ 21/22 EUR +1.9 million _________________________________________________________________________________ ▪ Revenues slightly lower year on
Slide 19: Building Materials: Key Figures 1-6/2022
02 | Building Materials Business Unit – Development in 1-6/2022 Business Unit Segment Building Building Materials Materials Key Figures 1-6/2022 4/8/2022 | 19
Slide 20: Market Developments
02 | Building Materials Business Unit – Development in 1-6/2022 Market Developments CONSTRUCTION OUTPUT TREND BAROMETER DYNAMIC PRICE TREND IN BUILDING MATERIALS Price indices of selected building materials in May 20221 in % vs May 2021 2.8% Mortgage rates Reinforcing steel sheet 80% Rising price 7.
Slide 21: Building Materials Segment
02 | Building Materials Business Unit – Development in 1-6/2022 Building Materials Segment Revenues and EBIT vs previous year ▪ Revenues: ∆ 21/22 EUR +166.1 million ▪ EBIT: ∆ 21/22 EUR +9.9 million _________________________________________________________________________________ ▪ Sales and profit i
Slide 22: Group Financials 1-6/2022
03 Group Financials 1-6/2022 Andreas Helber 4/8/2022 | 22
Slide 23: Other Activities 1-6/2022
03 | Group Financials 1-6/2022 Other Activities 1-6/2022 ▪ Revenues: ∆ 21/22 EUR +1.5 million ▪ EBIT: ∆ 21/22 EUR -8.1 million _________________________________________________________________________________ ▪ EBIT consists of administrative costs and consolidation Revenues in EUR m EBIT in EUR m e
Slide 24: Financials Energy Business Unit
03 | Group Financials 1-6/2022 Financials Energy Business Unit Income Statement In EUR m H1 2018 H1 2019 H1 2020 H1 2021 H1 2022 ∆21/22 (in %) Revenues 1,644.9 1,926.8 1,750.8 2,243.7 4,211.0 87.7% EBITDA 12.7 32.2 38.9 87.7 143.3 63.4% % of Revenues 0.8% 1.8% 2.2% 3.9% 3.4% EBIT 1.3 12.1 16.7 57.3
Slide 25: Financials Agriculture Business Unit
03 | Group Financials 1-6/2022 Financials Agriculture Business Unit Income Statement In EUR m H1 2018 H1 2019 H1 2020 H1 20211 H1 2022 ∆21/22 (in %) Revenues 5,814.5 5,696.3 5,553.8 6,043.3 7,529.6 24.6% EBITDA 82.0 97.6 109.0 139.1 275.7 98.2% % of Revenues 1.4% 1.7% 2.0% 2.3% 3.7% EBIT 52.4 53.6 6
Slide 26: Financials Building Materials Business Unit
03 | Group Financials 1-6/2022 Financials Building Materials Business Unit Income Statement In EUR m H1 2018 H1 2019 H1 2020 H1 2021 H1 2022 ∆21/22 (in %) Revenues 797.7 775.3 876.8 994.6 1,160.7 16.7% EBITDA 15.4 17.6 30.7 47.7 59.7 25.2% % of Revenues 1.9% 2.3% 3.5% 4.8% 5.1% EBIT 7.4 7.0 17.2 33.
Slide 27: Income Statement
03 | Group Financials 1-6/2022 Income Statement In EUR m H1 2018 H1 2019 H1 2020 H1 20211 H1 2022 ∆21/22 (in %) Revenues 8,270.4 8,410.6 8,193.7 9,293.6 12,913.9 39.0% EBITDA 96.8 155.1 160.4 262.9 455.0 73.1% % of Revenues 1.2% 1.8% 2.0% 2.8% 3.5% EBIT 32.1 52.2 53.8 144.6 328.5 > 100% % of Revenue
Slide 28: Balance Sheet
03 | Group Financials 1-6/2022 Balance Sheet In EUR m H1 2018 H1 2019 H1 2020 H1 2021 FY 2021 H1 2022 ∆21/22 (%) Total assets 6,993.7 8,453.9 8,863.8 10,067.2 11,771.4 12,722.9 8.1% Equity 1,363.8 1,351.4 1,312.6 1,872.4 1,816.1 1,972.8 8.6% Equity ratio 19.5% 16.0% 14.8% 18.6% 15.4% 15.5% In EUR m
Slide 29: Cash Flow Statement
03 | Group Financials 1-6/2022 Cash Flow Statement In EUR m H1 2018 H1 2019 H1 2020 H1 2021 H1 2022 ∆21/22 (in %) Cash Earnings 40.1 151.9 147.2 222.7 386.7 73.6% Cash flow from operating activities 157.4 217.6 232.3 -176.1 -57.7 67.2% Cash flow from investing activities -59.8 -102.7 -81.3 -80.5 -18
Slide 30: Thank you for your attention
Thank you for your attention Munich, 4 August 2022 Prof. Klaus Josef Lutz, CEO Andreas Helber, CFO
Slide 31: Appendix
04 Appendix BayWa 18/2022 | 31
Slide 32: BayWa Share 2022: Price performance compared with the SDAX and DAX
04 | Appendix BayWa Share 2022: Price performance compared with the SDAX and DAX BayWa SDAX DAX 1 January 2022 to 25 July 2022: 130% performance & closing price1 120% BayWa 41.55€ 110% 7.8% closing price 100% SDAX 12,508.34* 90% -23.8% closing price 80% DAX 13,210.32* 70% Jan-22 Feb-22 Mar-22 Apr-22
Slide 33: BayWa Share 2022
04 | Appendix BayWa Share 2022 Shareholder structure (30/06/2022) BayWa share profile (30/06/2022) Stock exchanges Frankfurt, Munich, Xetra Segment Official Market / Prime Standard 34.26% Security code no. 519406 and 519400 38.38% ISIN DE0005194062 and DE0005194005 Share capital EUR 91,250,199.04 Nu
Slide 34: Investor Relations Contact / Finanzkalender 2022/23
04 | Appendix Investor Relations Contact Finanzkalender 2022/23 4. 10. 2023 30. August November March ANALYST ANALYST VIRTUAL CONFERENCE CONFERENCE ANALYST Josko André Pierre CALL Q2 CALL Q3 CONFERENCE Radeljic Wahlen Head of Investor Relations Investor Relations Manager Tel.: +49 (089) 92 22 3887 T
Slide 35: 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