Beiersdorf Ag · XETR:BEI
Beiersdorf — H1 2022 Earnings Presentation
23 slides from Beiersdorf's earnings presentation, Aug 4, 2022
Slide 1: Half-Year Report 2022
HALF-YEAR REPORT 2022 Vincent Warnery, Astrid Hermann Hamburg, August 4, 2022
Slide 2: Strong Half-Year Performance
FINANCIAL REVIEW H1 2022 STRONG HALF-YEAR PERFORMANCE CONSUMER GROUP +11.7% +10.5% ORGANIC SALES GROWTH ORGANIC SALES GROWTH 15.9% * TESA EBIT MARGIN +5.4% ORGANIC SALES GROWTH *Excluding special factors Page 2 August 04, 2022 | Half-Year Report 2022
Slide 3: Broad-Based Momentum Continues in Q2
FINANCIAL REVIEW Q2 2022 BROAD-BASED MOMENTUM CONTINUES IN Q2 vs. +13.2% +25.6% +14.3% -7.4% +5.7% Q2 2021 Consumer: +11.9% Group: +10.7% Organic sales development Page 3 August 04, 2022 | Half-Year Report 2022
Slide 4: NIVEA Outperforms the Skin and Personal Care Markets
FINANCIAL REVIEW CONSUMER Q2 2022 NIVEA OUTPERFORMS THE SKIN AND PERSONAL CARE MARKETS +13.2% Skin Care: strong sales growth Q2 organic sales growth and market share gains across the portfolio Personal Care: significant growth in Deo and Shower Page 4 August 04, 2022 | Half-Year Report 2022
Slide 5: Strong Regional Performance
FINANCIAL REVIEW CONSUMER Q2 2022 STRONG REGIONAL PERFORMANCE WESTERN EUROPE • Double-digit sales growth in Q2 LATIN AMERICA • Strong growth across main categories • Ongoing success with broad-based sales growth • NIVEA Luminous sales doubled • Sun Care sales more than doubled • Substantial market s
Slide 6: North America: Our Portfolio Delivers
FINANCIAL REVIEW CONSUMER Q2 2022 NORTH AMERICA: OUR PORTFOLIO DELIVERS +15.5% * Successful & diversified Portfolio *Organic sales development in Q2 Page 6 August 04, 2022 | Half-Year Report 2022
Slide 7: North America: Our Portfolio Delivers
FINANCIAL REVIEW CONSUMER Q2 2022 NORTH AMERICA: OUR PORTFOLIO DELIVERS • Accelerated client data • Significant market share gains strategy • Outperforming competition • Outperforming the market – both online and offline - across double-digit growth all sub-categories • Significant launch contributi
Slide 8: China: Strong Recovery After Lockdowns
UNLOCK WHITE SPOTS CHINA: STRONG RECOVERY AFTER LOCKDOWNS -15% Apr/May June/July Q2 Sales Growth La Prairie: Domestic China + Travel Retail China • Strong impact of April/May lockdowns in Beijing & Shanghai not compensated by Tmall performance • Immediate recovery in June/July despite Covid-related
Slide 9: China: Outperforming Despite Lockdown
UNLOCK WHITE SPOTS CHINA: OUTPERFORMING DESPITE LOCKDOWN +94% Q2 sales growth Derma in China • Eucerin fully on track in China with very strong sales growth • Successful sell-out at 6.18 shopping festival • Market share gains in Dermocosmetics Page 9 August 04, 2022 | Half-Year Report 2022
Slide 10: 100th Anniversary Healthcare
ICONIC WOUND CARE BRAND 100TH ANNIVERSARY HEALTHCARE We are the trusted partner to provide best protection for everyday injuries Double-digit growth in Q1 and Q2 confirms our strong market position Page 10 August 04, 2022 | Half-Year Report 2022
Slide 11: Financials
H1 2022 FINANCIALS ASTRID HERMANN Page 11 August 04, 2022 | Half-Year Report 2022
Slide 12: Key Figures H1 2022: Group
KEY FIGURES H1 2022 GROUP Jan. – June 2021 Jan. – June 2022 Change Mil. € Mil. € Nominal Organic Sales 3,874 4,476 +15.5% +10.5% EBIT* 595 710 Profit after tax* 425 515 EBIT margin* 15.3% 15.9% Profit after tax margin* 11.0% 11.5% Earnings per share in €* 1.83 2.22 *Excluding special factors Page 12
Slide 13: Key Figures H1 2022: Segments
KEY FIGURES H1 2022 SEGMENTS Jan. – June 2021 Jan. – June 2022 Change Consumer Mil. € Mil. € Nominal Organic Sales 3,101 3,638 +17.3% +11.7% EBIT* 436 550 EBIT margin* 14.1% 15.1% tesa Sales 773 838 +8.4% +5.4% EBIT* 159 160 EBIT margin* 20.5% 19.1% *Excluding special factors Page 13 August 04, 2022
Slide 14: Consumer: Organic Sales Growth
KEY FIGURES H1 2022 CONSUMER Organic sales growth in % +11,6 +11,9 +11,7 +8,8 FY 2021 Q1 2022 Q2 2022 H1 2022 Page 14 August 04, 2022 | Half-Year Report 2022
Slide 15: Consumer Brands
CONSUMER KEY FIGURES H1 2022 CONSUMER BRANDS NIVEA DERMA HEALTHCARE LA PRAIRIE Q2 2022 +13.2% +25.6% +14.3% -7.4% H1 2022 +11.2% +26.6% +14.9% +1.8% Organic growth Page 15 August 04, 2022 | Half-Year Report 2022
Slide 16: Consumer Sales in Mil. €
KEY FIGURES H1 2022 CONSUMER Europe SALES IN MIL. € 1,634 +8.1%* Western Europe North America 1,328 Eastern Europe 480 +8.3%* 306 +19.2%* +7.4%* Americas 927 Latin America Africa, Asia & Australia +23.8%* 447 +29.0%* 1,077 +8.9%* * Organic growth Page 16 August 04, 2022 | Half-Year Report 2022
Slide 17: Consumer Gross Margin
KEY FIGURES 2022 - CONSUMER CONSUMER GROSS MARGIN 0.0 In % of consumer sales 61.2 1.4 -3.0 59.6 H1 2021 PRICE MIX COST OF SALES, H1 2022 LOGISTICS & OTHER @FX avg. 2021 Page 17 August 04, 2022 | Half-Year Report 2022
Slide 18: Consumer EBIT Margin
KEY FIGURES H1 2022 CONSUMER EBIT MARGIN In % of consumer sales 15,9 15,3 14,1 15.1 13,3 Excluding special factors H1 2018 H1 2019 H1 2020 H1 2021 H1 2022 Page 18 August 04, 2022 | Half-Year Report 2022
Slide 19: Consumer Working Capital
KEY FIGURES H1 2022 CONSUMER WORKING CAPITAL In % of consumer sales (12-months rolling) 9,5 9,1 6,9 5,3 4.6 H1 2020 FY 2020 H1 2021 FY 2021 H1 2022 @FX avg. 2021 Page 19 August 04, 2022 | Half-Year Report 2022
Slide 20: tesa Defies Lockdowns
REVIEW H1 2022 TESA DEFIES LOCKDOWNS ORGANIC SALES GROWTH H1: +5.4% • The Electronics business in Greater China Q2: +5.7% and Asia Pacific grew despite lockdown situation • In June, the China region increased sales by +30% • Strong management of global supply constraints delivers competitive edge Pa
Slide 21: Protecting Against Gas Shortages
OUTLOOK PROTECTING AGAINST GAS SHORTAGES • Exposure for German production sites reduced after implementing preemptive measures • Backup solutions are in place • Remaining risks: • Investment cost and cost of operations linked to backup solutions • Suppliers might be affected more severely Page 21 Au
Slide 22: Guidance FY 2022
GUIDANCE AND OUTLOOK GUIDANCE FY 2022 Consumer • Organic sales growth mid-single digit (upper end) • EBIT margin slightly above previous year Total Group tesa • Organic sales growth mid-single digit (upper end) • EBIT margin at previous year’s level • Organic sales growth low to mid-single digit • E
Slide 23: Thank You
THANK YOU