Baywa Ag · XETR:BYW
Baywa — Q3 2020 Earnings Presentation
38 slides from Baywa's earnings presentation, Nov 12, 2020
Slide 1: Quarterly Financial Statements as per 30 September 2020
Quarterly Financial Statements as per 30 September 2020 Conference Call Munich, 12 November 2020 Prof. Klaus Josef Lutz, CEO Andreas Helber, CFO
Slide 2: Agenda
Agenda 1. Development of the Group 1-9/2020 2. Development of the Segments 1-9/2020 3. Group Financials 1-9/2020 4. Outlook for FY 2020 Appendix 12 November 2020 Page 2
Slide 3: Development of the Group 1-9/2020
Development of the Group 1-9/2020 12 November 2020 Page 3
Slide 4: Development of the Group 1-9/2020 Summary
Development of the Group 1-9/2020 Summary In EUR m -2.2% +32.9% 12,473.0 12,197.8 102.7 77.3 Revenues EBIT 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Slight decline in revenues due to disposal of TESSOL ▪ Above-average, strong third quarter: significant earnings improvement supported by all three operati
Slide 5: Multi-year comparison of EBIT Q3
Development of the Group Q3/2020 Multi-year comparison of EBIT 48.9 30.1 25.1 Ø 23.6 17.5 -3.8 Q3 2016 Q3 2017 Q3 2018 Q3 2019 Q3 2020 12 November 2020 Page 5
Slide 6: Multi-year comparison of EBIT 1-9
Development of the Group 1-9/2020 Multi-year comparison of EBIT 102.7 90.3 85.4 77.3 Ø 76.8 28.3 1-9 2016 1-9 2017 1-9 2018 1-9 2019 1-9 2020 12 November 2020 Page 6
Slide 7: Energy Segment
Energy Segment 09.05.2019 Seite 7
Slide 8: Energy Segment 1-9/2020 Market developments
Energy Segment 1-9/2020 Market developments Renewable Energies Conventional Energy Forecast for global capacity installation in 20201 Brent crude oil price3 and heating oil price trend in Germany4 In USD per barrel In cent per litre Onshore wind energy Solar 75 80 66 127 70 60 70 66.9 65 65.4 66.2 G
Slide 9: Energy Segment: Renewable Energies
Energy Segment 1-9/2020: Renewable Energies Revenues and EBIT as against the previous year Renewable Energies In EUR m +23.0% >+100% 1,329.8 22.0 1,081.2 Revenues 3.9 EBIT 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Revenues: ∆ 19/20 EUR +248.6 million ▪ EBIT: ∆ 19/20 EUR +18.1 million ▪ Significant incre
Slide 10: Energy Segment: Conventional Energy
Energy Segment 1-9/2020: Conventional Energy Revenues and EBIT as against the previous year Conventional Energy In EUR m -30.6% +20.9% 1,908.1 26.0 1,323.6 21.5 Revenues EBIT 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Revenues: ∆ 19/20 EUR -584.5 millions ▪ EBIT: ∆ 19/20 EUR +4.5 millions ▪ Price-induced
Slide 11: Financials Energy Segment Income Statement
Financials Energy Segment 1-9/2020 Income Statement in EUR m 1-9 2016 1-9 2017 1-9 2018 1-9 2019 1-9 2020 ∆19/20 (%) Revenues 2,070.6 2,500.5 2,583.7 2,989.3 2,653.4 -11.2% EBITDA 81.8 87.3 9.0 51.3 82.2 60.2% % of Revenues 4.0% 3.5% 0.3% 1.7% 3.1% EBIT 57.7 63.0 -10.1 25.4 48.0 89.0% % of Revenues
Slide 12: Agriculture Segment
Agriculture Segment 09.05.2019 Seite 12
Slide 13: Market developments – agricultural products
Agriculture Segment 1-9/2020 Market developments – agricultural products Agri commodities price trend1 Global grain balance (excl. rice; October 2020)2 In EUR/tons In millions of tons Ending Stocks Production Consumption Corn CBT Wheat MTF Soy meal CBT Rape seed MTF 2750 135 220 430 115 2250 2171 21
Slide 14: Agriculture Segment: BAST
Agriculture Segment 1-9/2020: BAST Revenues and EBIT as against the previous year BAST In EUR m -10.0% +56.6% 3,645.0 16.6 3,281.0 10.6 Revenues EBIT 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Revenues: ∆ 19/20 EUR -364.0 million ▪ EBIT: ∆ 19/20 EUR +6.0 million ▪ Volume-induced decline in revenues partl
Slide 15: Market development Global Produce, Inputs, Equipment
Agriculture Segment 1-9/2020 Market development Global Produce, Inputs, Equipment Global Produce Input Resources Agricultural Equipment ▪ NZ 2020 apple production above previous year ▪ Weak demand due to regulatory framework ▪ Economic barometer slightly higher y/y (+6% y/y) – better fruit quality d
Slide 16: Agriculture Segment: Global Produce
Agriculture Segment 1-9/2020: Global Produce Revenues and EBIT as against the previous year Global Produce In EUR m +16.0% 0.0% 711.6 30.2 30.2 613.4 Revenues EBIT 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Revenues: ∆ 19/20 EUR +98.2 million ▪ EBIT: ∆ 19/20 EUR +0.0 million ▪ Volume- and price-induced i
Slide 17: Agriculture Segment: Agri Trade & Service
Agriculture Segment 1-9/2020: Agri Trade & Service Revenues and EBIT as against the previous year Agri Trade & Service In EUR m +2.0% -36.2% 2,709.7 2,764.9 10.5 6.7 EBIT Revenues 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Revenues: ∆ 19/20 EUR +55.2 million ▪ EBIT: ∆ 19/20 EUR -3.8 million ▪ Volume-indu
Slide 18: Agriculture Segment: Agricultural Equipment
Agriculture Segment 1-9/2020: Agricultural Equipment Revenues and EBIT as against the previous year Agricultural Equipment In EUR m +11.1% +65.5% 1,358.6 24.0 1,222.9 14.5 Revenues EBIT 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Revenues: ∆ 19/20 EUR +135.7 million ▪ EBIT: ∆ 19/20 EUR +9.5 million ▪ Sign
Slide 19: Financials Agriculture Segment Income Statement
Financials Agriculture Segment 1-9/2020 Income Statement in EUR m 1-9 2016 1-9 2017 1-9 2018 1-9 2019 1-9 2020 ∆19/20 (%) Revenues 8,186.3 8,247.1 8,302.2 8,191.0 8,116.1 -0.9% EBITDA 86.1 93.5 99.9 128.6 149.0 15.9% % of Revenues 1.1% 1.1% 1.2% 1.6% 1.8% EBIT 45.1 49.6 55.7 65.8 77.5 17.8% % of Rev
Slide 20: Building Materials Segment
Building Materials Segment 09 May 2019 Page 20
Slide 21: Building Materials Segment Market developments
Building Materials Segment 1-9/2020 Market developments Sales in the German construction industry 1-8/2020 Building permissions in Germany Forecast 20202 in % vs 20191 in 1,000 6.7% 6.2% +1.9% 5.5% 360 367 49 4.2% 204 114 Construction Commercial Public-sector Housing 2019 Private homes Apartment Oth
Slide 22: Building Materials Segment Revenues and EBIT
Building Materials Segment 1-9/2020 Revenues and EBIT as against the previous year Building Materials In EUR m +10.6% +68.2% 1,410.5 39.2 1,275.2 23.3 Revenues EBIT 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Revenues: ∆ 19/20 EUR +135.3 million ▪ EBIT: ∆ 19/20 EUR +15.9 million ▪ Building materials busin
Slide 23: Financials Building Materials Segment Income Statement
Financials Building Materials Segment 1-9/2020 Income Statement In EUR m 1-9 2016 1-9 2017 1-9 2018 1-9 2019 1-9 2020 ∆19/20 (%) Revenues 1,168.6 1,218.6 1,292.6 1,275.2 1,410.5 10.6% EBITDA 30.1 33.2 34.3 39.6 60.0 51.5% % of Revenues 2.6% 2.7% 2.7% 3.1% 4.3% EBIT 18.8 21.6 22.3 23.3 39.2 68.2% % o
Slide 24: Innovation & Digitalisation Segment Revenues and EBIT
Innovation & Digitalisation Segment 1-9/2020 Revenues and EBIT as against the previous year Digital Farming & eBusiness In EUR m +15.7% +17.6% 8.1 7.0 EBIT Revenues -8.4 -10.2 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Revenues: ∆ 19/20 EUR +1.1 million ▪ EBIT: ∆ 19/20 EUR +1.8 million ▪ Increase in sale
Slide 25: Other Activities 1-9/2020
Other Activities 1-9/2020 In EUR m -6.7% 10.4 9.7 -98.5% EBIT Revenues -27.0 -53.6 1-9 2019 1-9 2020 1-9 2019 1-9 2020 ▪ Revenues: ∆ 19/20 EUR -0.7 million ▪ EBIT: ∆ 19/20 EUR -26.6 million ▪ EBIT consists of administrative costs and consolidation effects; decline compared with year-earlier period c
Slide 26: Group Financials
Group Financials 12 November 2020 Page 26
Slide 27: Group Financials 1-9/2020 Income Statement
Group Financials 1-9/2020 Income Statement in EUR m 1-9 2016 1-9 2017 1-9 2018 1-9 2019 1-9 2020 ∆19/20 (%) Revenues 11,439.3 11,980.3 12,196.7 12,473.0 12,197.8 -2.2% EBITDA 177.3 188.1 127.2 223.9 264.8 18.3% % of Revenues 1.5% 1.6% 1.0% 1.8% 2.2% EBIT 85.4 90.3 28.3 77.3 102.7 32.9% % of Revenues
Slide 28: Group Financials 1-9/2020 Balance Sheet
Group Financials 1-9/2020 Balance Sheet In EUR m 1-9 2016 1-9 2017 1-9 2018 1-9 2019 FY 2019 1-9 2020 ∆19/20 (%) Total assets 6,608.0 7,045.2 7,618.1 8,947.2 8,867.2 9,413.3 6.2% Equity 1,074.6 1,119.8 1,333.3 1,333.1 1,358.6 1,280.5 -5.7% Equity ratio 16.3% 15.9% 17.5% 14.9% 15.3% 13.6% Equity rati
Slide 29: Operational Outlook for FY 2020
Operational Outlook for FY 2020 12 November 2020 Page 29
Slide 30: Operational Outlook 2020 Energy Segment
Operational Outlook 2020 Energy Segment ▪ Rise in earnings in the final quarter on the back of the sale of numerous plants in Europe and in the USA ▪ Uptrend in sales from trading in PV components expected to continue Renewable Energies: Result anticipated at the high year-earlier level. ▪ Potenti
Slide 31: Operational Outlook 2020 Agriculture Segment
Operational Outlook 2020 Agriculture Segment ▪ Price volatility is likely to persist due to the uncertainty caused by the Corona pandemic and stronger demand from China ▪ BAST: additional opportunities through ongoing price volatility; stable development expected for speciality trading ▪ Agriculture
Slide 32: Operational Outlook 2020 Building Materials Segment
Operational Outlook 2020 Building Materials Segment ▪ High order backlog of the companies in the sector, as well as ongoing construction boom suggest continued strong demand for building materials ▪ Positive stimulus from sustained low interest rate level and value added tax reduction ▪ Greater inve
Slide 33: Thank you for your attention!
Thank you for your attention!
Slide 34: United for success.
United for success.
Slide 35: BayWa Share 2020
BayWa Share 2020 12 November 2020 Page 35
Slide 36: The BayWa share 2020: Price performance compared with SDAX and DAX
The BayWa share 2020: Price performance compared with the SDAX and DAX 110% 06 November 2020: performance & closing prices1 BayWa 100% €27.20 -3,4% closing price 90% High on 17/02/2020 SDAX: 13,066.71 High on 23/07/20 BayWa: € 29.85 SDAX 12,311.21* 80% High on 19/02/2020 DAX: 13,789.00 -2,7% closing
Slide 37: BayWa Share 2020
BayWa Share 2020 Shareholder structure (30/09/2020) BayWa share profile (30/09/2020) Stock exchanges Frankfurt, Munich, Xetra Segment Official Market / Prime Standard Security code no. 519406 and 519400 34.6% 38.4% ISIN DE0005194062 and DE0005194005 Share capital EUR 90,314,398.72 Number of shares 3
Slide 38: Investor Relations Contact Financial Calendar 2020/21
Investor Relations Contact Josko André Pierre Renate Radeljic Wahlen Lorenz Head of Investor Relations Junior Investor Relations Manager Assistant T +49 (089) 92 22 3887 T +49 (089) 92 22 3879 T +49 (089) 92 22 3881 F +49 162 2828671 andrepierre.wahlen@baywa.de renate.lorenz@baywa.de josko.radeljic@