Bayer AG · XETR:BAYN
Bayer — Q2 2021 Earnings Presentation
24 slides from Bayer's earnings presentation, Aug 5, 2021
Slide 1: Investor Conference Call Q2 2021 Results
Investor Conference Call /////////// Q2 2021 Results August 5, 2021 Werner Baumann, CEO Wolfgang Nickl, CFO
Slide 2: Cautionary Statements Regarding Forward-Looking Information
Cautionary Statements Regarding Forward-Looking Information This presentation may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the ac
Slide 3: Q2 2021 Results: Business Update
Q2 2021 Results Business Update /////////// Werner Baumann, CEO
Slide 4: We Deliver on Major Levers
We Deliver on Major Levers 1 Strong growth across all divisions 2 Full year guidance increased 3 Pharma late-stage pipeline de-risked 4 Bayer Q2 2021 Investor Conference Call /// August 5th, 2021
Slide 5: Q2 2021 Results: Business Performance & Outlook
Q2 2021 Results Business Performance & Outlook /////////// Wolfgang Nickl, CFO
Slide 6: Q2 2021: All Businesses Contribute to Strong Sales Growth
Q2 2021: All Businesses Contribute to Strong Sales Growth Currency Headwinds Weigh on EBITDA Before Special Items Sales EBITDA Core EPS Free Cash Flow In million €, ∆% yoy In million €, before special items In €, Cont. Operations In million € +8% (+13% cpa) 10.854 10.054 1.402 -18% 2.883 -11% 2.577
Slide 7: HY1 2021: Good Performance Setting Stage for Guidance Raise
HY1 2021: Good Performance Setting Stage for Guidance Raise Sales EBITDA Core EPS Free Cash Flow In million €, ∆% yoy In million €, before special items In €, Cont. Operations In million € +1% (+7% cpa) 609 22.899 23.182 -8% 7.274 6.695 -1% 4,26 4,20 31.8% 28.9% -2.074 H1'20 H1'21 H1'20 H1'21 H1'20
Slide 8: Crop Science with Strong Growth Momentum Supported by Positive Market Dynamics
Crop Science with Strong Growth Momentum Supported by Positive Market Dynamics Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • Fungicides (+23% cpa) driven by Fox Xpro™ and new launches in North Volume +5% America +7% (+11% cpa) • Her
Slide 9: Pharmaceuticals with Substantial Growth and Progress on Late-Stage Pipeline
Pharmaceuticals with Substantial Growth and Progress on Late- Stage Pipeline Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • Strong performance of Eylea (+27% cpa) and Xarelto (+13% cpa) Volume +13% +17% (+16% cpa) • IUD franchise (+6
Slide 10: Consumer Health Continues to Outperform
Consumer Health Continues to Outperform Sales Sales EBITDA Key Messages InIn million €,€, million ∆% yoy, ∆% yoycpa. In million €, before special items • Growth across all regions and categories Volume +7% • Allergy & Cold (+16% cpa) driven by a (+13% cpa) +11% strong spring allergy season 1.290 • N
Slide 11: Updated Full-Year Guidance 2021 - Group
Updated Full-Year Guidance 2021 - Group Excluding currency impact Outlook Outlook Expected Outlook as of Feb 20211 as of Aug 2021 currency impact² as of Aug 2021 incl. currency impact Sales €42 - €43bn ~ €44bn ~ -€1bn ~ €43bn EBITDA margin ~ 27% ~ 26% -50 bps ~ 25% (before special items) Core EPS €6
Slide 12: Investor Conference Call Q2 2021 Results
Investor Conference Call /////////// Q2 2021 Results August 5, 2021 Werner Baumann, CEO Wolfgang Nickl, CFO
Slide 13: Q2 2021: Key KPIs Bayer Group
Q2 2021: Key KPIs Bayer Group Q2 2020 Q2 2021 Net Sales 10,054 10,854 EBITDA before special items 2,883 2,577 Special items -12,487 -3,468 1 Reported EBITDA -9,604 -891 Depreciation & Amortization -1,180 -1,390 Reported EBIT -10,784 -2,281 Amortization and impairment losses / loss reversals on 1 • A
Slide 14: Q2 2021: Key KPIs by Division
Q2 2021: Key KPIs by Division Crop Science Pharmaceuticals Consumer Health Reconciliation Group [€ million] Q2'20 Q2'21 Q2'20 Q2'21 Q2'20 Q2'21 Q2'20 Q2'21 Q2'20 Q2'21 Sales 4,802 5,021 3,992 4,494 1,201 1,290 59 49 10,054 10,854 Sales by region: Europe / Middle East / Africa 958 1,003 1,554 1,774 3
Slide 15: Core EPS to EPS bridge
Core EPS to EPS bridge in € -1.04 1.61 -3.53 -2.38 0.02 0.56 Core EPS Depreciation & Special items Special items Tax effect EPS (total) Q2'2021 Amortization (EBITDA) financial result/ on adjustments Q2'2021 (on IP & PPE) taxes 15 Bayer Q2 2021 Investor Conference Call /// August 5th, 2021
Slide 16: Updated Full-Year Guidance 2021 - Divisions
Updated Full-Year Guidance 2021 - Divisions Guidance at constant currencies* Sales Growth Sales Growth EBITDA-margin EBITDA-margin Est. Market Division Growth 2021 2021 (cpa) 2021 (cpa) 2021 as of Feb. 2021 as of Aug. as of Feb. as of Aug. (before special items) (before special items) Crop ~ 5% ~ 2%
Slide 17: Updated Full-Year Guidance 2021 for Other Group KPIs
Updated Full-Year Guidance 2021 for Other Group KPIs Excluding currency impact Outlook Outlook Expected Outlook as of Feb 20211 as of Aug 2021 currency impact² as of Aug 2021 incl. currency impact Special items (EBITDA) ~ €1.5bn ~ €4.5bn no material effect ~ €4.5bn Depreciation and amortization (cle
Slide 18: Innovation
Innovation 18 Bayer Q2 2021 Investor Conference Call /// August 5th, 2021
Slide 19: Key Pharma R&D Developments in Q2 2021
Key Pharma R&D Developments in Q2 2021 • FDA approval for the treatment of chronic kidney disease in patients with type 2 diabetes Kerendia (Finerenone) • Phase III FIGARO-DKD trial meets primary endpoint • Submission for marketing authorization in China • EU approval for the treatment of symptomati
Slide 20: Pharmaceuticals Division: Overview Development Portfolio
Pharmaceuticals Division: Overview Development Portfolio as of June 2021 Phase I (23) Phase II (20) Phase III (8) Selitrectinib (TRK Inhibitor, formerly LOXO-195) Urothelial Cancer /// Rogaratinib (pan-FGFR Inhibitor) Prostate Cancer (mHSPC) /// Darolutamide (AR Inhibitor) Rogaratinib (pan-FGFR Inhi
Slide 21: Crop Science Division: R&D Pipeline (Seed & Traits)
Crop Science Division: R&D Pipeline (as of March 2021) Key Corn Seed & Traits, Soybean Seed & Traits and Other Projects with ~€19-€22bn Peak Sales Potential; ~50% Incremental Phase I Phase II Phase III Phase IV Life Cycle Mgmt.1 Digital Disease Mgmt. Short Stature Corn – Breeding Approach Corn Rootw
Slide 22: Crop Science Division: R&D Pipeline (Herbicides, Fungicides, Insecticides)
Crop Science Division: R&D Pipeline (as of March 2021) Key Herbicides, Fungicides and Insecticides Projects with ~€8bn Peak Sales Potential; ~50% Incremental Phase I Phase II Phase III Phase IV Life Cycle Management1 New AI Development Non-Selective Novel PPO Herbicide2 Improved Dicamba Formulations
Slide 23: Consumer Health Division: Accelerating Growth with Innovation in Meaningful Segments
Consumer Health Division: Accelerating Growth with Innovation in Meaningful Segments Select Examples of Recent Launches or Approvals Astepro Rx-to-OTC Switch AleveX Topical Pain Relief Solutions Bepanthen extension to Dry Skin (launch in 2022) (launched 2021) (launched 2021) First OTC Steroid-Free
Slide 24: Investor Conference Call Q2 2021 Results
Investor Conference Call /////////// Q2 2021 Results August 5, 2021 Werner Baumann, CEO Wolfgang Nickl, CFO