Bayer Ag · XETR:BAYN
Bayer — Q1 2018 Earnings Presentation
18 slides from Bayer's earnings presentation, May 3, 2018
Slide 1: Investor Conference Call Q1 2018 Results
Investor Conference Call /////////// Q1 2018 Results May 03, 2018/ Werner Baumann, CEO
Slide 2: Cautionary Statements Regarding Forward-Looking Information
Cautionary Statements Regarding Forward-Looking Information Certain statements contained in this communication may constitute “forward-looking statements.” Actual results could differ materially from those projected or forecast in the forward-looking statements. The factors that could cause actual r
Slide 3: Q1 2018 – distorted by currency
Q1 2018 – distorted by currency Sales EBITDA Core EPS in € million; currency & portfolio adj. before special items; in € million cont. operations; in € +2% -5% 2.31 -1% 2.28 3,054 9,680 2,896 9,138 Q1'17 Q1'18 Q1'17 Q1'18 Q1'17 Q1'18 3 /// Q1 2018 Investor Conference Call /// Werner Baumann, CEO 201
Slide 4: Significant progress with Monsanto Acquisition
Significant progress with Monsanto Acquisition Acquisition of Monsanto pending regulatory approval European Commission issued conditional approval of Monsanto acquisition With the recent clearances two thirds of the regulatory approvals have been granted Placement of 31m new shares to Temasek Commit
Slide 5: Q1 2018 – Pharma Headlines
Q1 2018 – Pharma Headlines • Growth of +3% mainly driven by key growth products; up +5% adjusted for CSL • Key growth products overall continue their growth trajectory • Adjusted EBITDA down mainly due to negative currency effects, higher COGS, higher R&D and M&S spend • ALTAIR data for Eylea submit
Slide 6: Q1 2018 – Crop Science Headlines
Q1 2018 – Crop Science Headlines • Sales on strong prior-year level • Earnings impacted by currency, a decline in other operating income and higher COGS • EMEA was impacted by adverse weather conditions and regulatory uncertainty in France • Latin America mainly driven by Brazil • Channel inventory
Slide 7: Q1 2018 – Consumer Health Headlines
Q1 2018 – Consumer Health Headlines • China still with significant impact from two medicated skincare products • Temporary supply interruptions • Adjusted EBITDA margin flattish on a comparable basis 7 /// Q1 2018 Investor Conference Call /// Werner Baumann, CEO
Slide 8: Group Outlook confirmed for FY 2018 at constant currency
Group Outlook confirmed for FY 2018 at constant currency Outlook depends on specific planning assumptions outlined in the Annual Report Sales ∆% yoy, Fx & portfolio adj., EBITDA before special items Continuing operations 2017 Group Forecast 2018 As reported * Low-single-digit % decline; <€35bn Sales
Slide 9: Results Appendix
Q1 2018 Results Appendix Investor Conference Call 9 /// Q1 2018 Investor Conference Call /// Werner Baumann, CEO
Slide 10: Fx-Sensitivity by Currency
Fx-Sensitivity by Currency A 1% appreciation (depreciation) of the euro against all other currencies would decrease (increase) sales on an annual basis by some €250 million and EBITDA before special items by about €70 million. Sales ~ €250 milion Share of 1% sensitivity Sales Fx by division USD ~33%
Slide 11: Cash Flow And Net Financial Debt Development
Q1 2018 – Cash Flow And Net Financial Debt Development Cash Flow Net Financial Debt in € million; ∆% yoy, Fx adj., continuing operations in € billion 3.595 Operating 4.7 EBITDA CapEx -54% Cash Flow 2,818 658 349 1.650 XX -6% +19% +2% Mar. 31, 2018 Dec. 31, 2017 Mar. 31, 2018 11 /// Q1 2018 Investor
Slide 12: Sales Increase at Pharmaceuticals
Q1 2018 – Sales Increase at Pharmaceuticals Sales Key Growth Products EBITDA in € million; ∆% yoy, Fx & portfolio adj. Sales in € million, ∆% yoy, Fx adj. before special items, in € million; ∆% yoy +3% 751 4,263 +13% 1,502 4,075 814 -6% 1,415 446 +19% 504 100 +2% 92 73 +21% 81 75 +3% 70 Q1'17 Q1'18
Slide 13: Consumer Health Down Year on Year, As Expected
Q1 2018 – Consumer Health Down Year on Year, As Expected Sales Top Products EBITDA in € million; ∆% yoy, Fx & portfolio adj. Sales in € million, ∆% yoy, Fx adj. before special items, in € million; ∆% yoy *incl. Aspirin Cardio 274 * 1,601 +2% -2% 257 392 -20% 1,409 190 313 -0% 167 95 +11% 100 102 -3%
Slide 14: Sales of Crop Science Match Strong-Prior Year Quarter
Q1 2018 – Sales of Crop Science Match Strong-Prior Year Quarter Sales Regions EBITDA in € million; ∆% yoy, Fx & portfolio adj. Sales in € million, ∆% yoy, Fx adj. before special items, in € million; ∆% yoy Europe / Middle North America 1,115 Environm. 3,120 East / Africa -7% 1,042 Science 147 -1% 2,
Slide 15: Animal Health Raises Sales and Earnings
Q1 2018 – Animal Health Raises Sales and Earnings Sales Top Products EBITDA in € million; ∆% yoy, Fx & portfolio adj. Sales in € million, ∆% yoy, Fx adj. before special items, in € million; ∆% yoy 136 -8% 440 +3% 114 +3% 139 414 135 76 +25% 88 35 -4% 31 27 +3% 25 Q1'17 Q1'18 Q1'17 Q1'18 Q1’17 Q1’18
Slide 16: FY 2018 – Guidance by Segment
FY 2018 – Guidance by Segment Sales ∆ % yoy Fx and portfolio adj., EBITDA before special items, Continuing operations Adj. EBITDA Sales Closing rates as of Mar. 31, 2018 Currency-adjusted Low-single-digit % increase to >€16.5bn Low-single-digit % decline Pharma Low-single-digit % increase Key growth
Slide 17: 2018 Guidance for Key Pharma Products
2018 Guidance for Key Pharma Products Product Guidance FY 2018 (Fx adjusted) Xarelto ~10% growth vs. 2017 Eylea Mid-teens-% growth vs. 2017 Xofigo Mid-single-digit % decline vs. 2017 Stivarga ~10% growth vs. 2017 Adempas >20% growth vs. 2017 Kogenate / Kovaltry High-single-digit-% decline vs. 2017 (
Slide 18: Investor Conference Call Q1 2018 Results
Investor Conference Call /////////// Q1 2018 Results May 03, 2018/ Werner Baumann, CEO