Beiersdorf Ag · XETR:BEI
Beiersdorf — FY2020 Earnings Presentation
34 slides from Beiersdorf's earnings presentation, Feb 17, 2021
Slide 1: Financial Analyst Meeting 2021
FINANCIAL ANALYST MEETING 2021 Stefan De Loecker, Dessi Temperley, Astrid Hermann Hamburg, February 17, 2021
Slide 2: Agenda
AGENDA 1 REVIEW 2020 2 FINANCIAL FIGURES 2020 3 PRIORITIES 2021 4 FINANCIAL OUTLOOK 5 CLOSING REMARKS
Slide 3: Review 2020
1 REVIEW 2020 Stefan De Loecker
Slide 4: At a glance
AT A GLANCE 1 2 3 4 5 Significant Successful Progress €300 MILLION MARKET highly gains in CRISIS with future attractive in the MARKET SHARE MANAGEMENT C.A.R.E.+ investments long term Page 4 February 17, 2021 | Financial Analyst Meeting 2021
Slide 5: We've weathered the crisis well
REVIEW 2020 WE’VE WEATHERED THE CRISIS WELL NIVEA DERMA HEALTHCARE LA PRAIRIE TESA –6.0%* +8.3%* –5.9%* –23.9%* –1.5%* Consumer: –6.6%* Group: –5.7%* * Organic sales development Page 5 February 17, 2021 | Financial Analyst Meeting 2021
Slide 6: We gained market share
REVIEW 2020 WE GAINED MARKET SHARE OUR SUCCESS BUILDS ON THREE PRIORITIES: 1. INNOVATIONS + GREATER MARKET SHARE GAINS THAN • Successfully launched innovations IN EACH OF THE • Supported by strong marketing and R&D investments PAST 5 YEARS 2. INVESTMENT • With all core brands • Investments in digita
Slide 7: We've weathered the crisis well
REVIEW 2020 WE’VE WEATHERED THE CRISIS WELL NIVEA DERMA HEALTHCARE LA PRAIRIE TESA –6.0%* +8.3%* –5.9%* –23.9%* –1.5%* Consumer: –6.6%* Group: –5.7%* * Organic sales development Page 7 February 17, 2021 | Financial Analyst Meeting 2021
Slide 8: Clear priorities during the crisis
REVIEW 2020 CLEAR PRIORITIES DURING THE CRISIS EMPLOYEES • Extensive safety precautions put in place • Solidarity Pact for Employment – made it through the crisis without layoffs or short-time working CONSUMERS • Production repurposed very quickly • Online presence & e-commerce strengthened SOCIETY
Slide 9: C.A.R.E.+ in action – Eucerin
REVIEW 2020 C.A.R.E.+ IN ACTION – EUCERIN Win with skin care Thiamidol – most successful product launch in EUCERIN history Unlock white spot potential Entered growth markets such as China, Brazil and Russia Accelerate digital transformation Online share of EUCERIN sales increased by 75% in 2020 Page
Slide 10: We accelerated our digital transformation
REVIEW 2020 WE ACCELERATED OUR DIGITAL TRANSFORMATION PERSONALIZATION OF SKIN CARE: > 12,000 participants SKINLY > 67 MILLION • Comprehensive scientific project images and skin influencing data • Identifies individual skin needs • Worldwide unique database • Insights for our consumers NIVEA SKIN GUI
Slide 11: We unlocked white spot potential
REVIEW 2020 WE UNLOCKED WHITE SPOT POTENTIAL FOCUS ON THREE REGIONS • China & USA • Emerging markets LOCAL EXPERTISE • Asia: LA PRAIRIE, EUCERIN and NIVEA with strong momentum • Shanghai: opening of Beiersdorf’s second largest innovation center worldwide • New Jersey: expansion into innovation cente
Slide 12: Care beyond skin – ambitious sustainability agenda
REVIEW 2020 CARE BEYOND SKIN – AMBITIOUS SUSTAINABILITY AGENDA „CLIMATE A“ COMPANY • NGO ranking „Carbon Disclosure Project“ • Für environmental transparency and ambitious targets on climate action SUSTAINABLE PACKAGING • 50% less packaging for NIVEA Naturally Good • 90% recycled material for PET bo
Slide 13: tesa outperforms the market
REVIEW 2020 TESA OUTPERFORMS THE MARKET ELECTRONICS • Focus on innovations & special applications • Benefits from increased sales of digital devices through special-purpose adhesives AUTOMOTIVE • Benefits from e-mobility • Innovations for insulation and bonding of battery cells DO-IT-YOURSELF • Grow
Slide 14: Financials 2020
2 FINANCIALS 2020 Dessi Temperley
Slide 15: Key figures 2020 Group
KEY FIGURES 2020 GROUP JAN. – DEC. 2019 JAN. – DEC. 2020 CHANGE MILL. € MILL. € NOMINAL ORGANIC SALES 7,653 7,025 -8.2% -5.7% EBIT 1,032 828 -19.7% PROFIT AFTER TAX 736 577 -21.7% EARNINGS PER SHARE IN € 3.17 2.47 PROFIT AFTER TAX* 788 636 -19.3% EBIT MARGIN* 14.3% 12.9% PROFIT AFTER TAX MARGIN* 10.
Slide 16: Key figures 2020 Segments
KEY FIGURES 2020 SEGMENTS JAN. – DEC. 2019 JAN. – DEC. 2020 CHANGE MILL. € MILL. € NOMINAL ORGANIC CONSUMER SALES 6,274 5,700 -9.1% -6.6% EBIT* 883 702 -20.5% EBIT MARGIN* 14.1% 12.3% TESA SALES 1,379 1,325 -3.9% -1.5% EBIT* 212 204 -3.7% EBIT MARGIN* 15.3% 15.4% *Excluding special factors Page 16 F
Slide 17: Key figures 2020 Consumer
KEY FIGURES 2020 CONSUMER ORGANIC SALES GROWTH IN % +4.8 -3.3 -1.2 -3.4 -6.6 -18.7 FY 2019 Q1 2020 Q2 2020 Q3 2020 Q4 2020 FY 2020 Page 17 February 17, 2021 | Financial Analyst Meeting 2021
Slide 18: Key figures 2020 Consumer brands
KEY FIGURES 2020 CONSUMER BRANDS NIVEA DERMA HEALTHCARE LA PRAIRIE FY 2020 -6.0% +8.3% -5.9% -23.9% Q4 2020 -5.4% +5.9% -9.7% +21.0% Page 18 February 17, 2021 | Financial Analyst Meeting 2021
Slide 19: Consumer – sales in mill. €
KEY FIGURES 2020 CONSUMER – SALES IN MILL. € Europe 2,752 -8.0%* Western Europe 2,217 -8.6%* Eastern Europe North America 585 535 -5.8%* +0.2%* Americas 1,153 Latin America Africa, Asia & +3.2%* 568 +5.4%* Australia 1,795 -10.0%* * Organic growth Page 19 February 17, 2021 | Financial Analyst Meeting
Slide 20: Consumer – gross margin
KEY FIGURES 2020 CONSUMER – GROSS MARGIN IN % OF CONSUMER SALES 60.8% 0.0% -0.6% +0.3% -0.8% 59.7% 2019 PRICE MIX COST OF SALES, FX 2020 LOGISTICS & OTHERS Page 20 February 17, 2021 | Financial Analyst Meeting 2021
Slide 21: Consumer – working capital
KEY FIGURES 2020 CONSUMER – WORKING CAPITAL IN % OF CONSUMER SALES (12-MONTHS ROLLING) 11.0% 9.9% 9.2% 9.2% 9.1% 2016 2017 2018 2019 2020 Page 21 February 17, 2021 | Financial Analyst Meeting 2021
Slide 22: Key figures 2020 tesa
KEY FIGURES 2020 TESA ORGANIC GROWTH FY 2020 IN % DIRECT INDUSTRIES TRADE MARKETS TESA TOTAL -3.0% +0.8% -1.5% Q4: +9.5% Q4: +6.5% Q4: +8.0% AUTOMOTIVE CONSUMER & CRAFTSMEN ELECTRICAL SYSTEMS GENERAL INDUSTRIAL MARKETS ELECTRONICS DIRECT GROWTH MARKETS Page 22 February 17, 2021 | Financial Analyst M
Slide 23: Priorities 2021
3 PRIORITIES 2021 Stefan De Loecker
Slide 24: We want to create a better future
PRIORITIES 2021 WE WANT TO CREATE A BETTER FUTURE + LOOKING AHEAD WITH CONFIDENCE • Competitiveness in the crisis • Investment offensive has paid off ADDITIONAL €300 MILLION INVESTMENTS IN THE NEXT 5 YEARS Page 24 February 17, 2021 | Financial Analyst Meeting 2021
Slide 25: Strengthening our brands through purpose
PRIORITIES 2021 STRENGTHENING OUR BRANDS THROUGH PURPOSE CARE FOR HUMAN TOUCH We got you covered, TO INSPIRE TOGETHERNESS for a life uninterrupted. Page 25 February 17, 2021 | Financial Analyst Meeting 2021
Slide 26: Personalization – the future of skin care
PRIORITIES 2021 PERSONALIZATION – THE FUTURE OF SKIN CARE WE KNOW WHAT EVERY SKIN NEEDS • For almost 140 years, we have been driving skin research • New convincing products in 2021 thanks to Skinly ONLY WHAT’S NEEDED – O.W.N • >380,000 formula combinations • Skin care routine – tailored to personal
Slide 27: Win with skin care – innovations 2021
PRIORITIES 2021 WIN WITH SKIN CARE – INNOVATIONS 2021 LA PRAIRE NIVEA CELLULAR EUCERIN PLATINUM RARE HAUTE- LUMINOUS630 ACTINIC CONTROL REJUVENATION PROTOCOL NIVEA RELAUNCH WONDERBAR HEALTHCARE Page 27 February 17, 2021 | Financial Analyst Meeting 2021
Slide 28: Guidance & Outlook
4 GUIDANCE & OUTLOOK Astrid Hermann
Slide 29: Financial outlook 2021 and beyond
FINANCIAL OUTLOOK 2021 AND BEYOND A CHALLENGING YEAR 2020 • Major impact on sales markets • Development in 2021 still unclear • Reassessment of our medium-term targets from 2019 COMPETITIVE SUSTAINABLE C.A.R.E.+ IS DESIGNED FOR THE LONG TERM • Beiersdorf accelerates C.A.R.E.+ GROWTH • Additional inv
Slide 30: Guidance 2021
FINANCIAL OUTLOOK GUIDANCE 2021 Market Shares Independent of Skin Care market growth, we will continue to outperform the market. We expect the global Skin Care market to improve by the end of 2021 Sales Sales growth in both business segments and on group level will be positive EBIT Consumer and Grou
Slide 31: Outlook
FINANCIAL OUTLOOK OUTLOOK Growth Independent of future Skin Care market development, we will continue to outperform the market EBIT Post Covid-19, our Consumer EBIT will grow ahead of sales Page 31 February 17, 2021 | Financial Analyst Meeting 2021
Slide 32: Financial outlook
FINANCIAL OUTLOOK Working Capital Management Continuous reduction of Working Capital levels in 2021 despite the pandemic headwinds Value Management Value Engineering and other efficiency initiatives will allow us to continue investing in our brands and capabilities Effective Tax Rate Strong executio
Slide 33: Closing remarks
5 CLOSING REMARKS Stefan De Loecker
Slide 34: CARE+ Beiersdorf
CARE+ Beiersdorf