Annual Financial Statements as per 31 December 2019 Analysts’ … · 2020-04-07 · Market Developments: Products 27 March 2020 Page 17 Global grain balance (excl. rice) Source:

Annual Financial Statements

as per 31 December 2019

Analysts’ Conference CallMunich, 27 March 2020

Prof. Klaus Josef Lutz, CEO

Andreas Helber, CFO

Agenda

27 March 2020 Page 2

1. Financial Year 2019

2. Performance of the Segments

3. Group Financials

4. Operational Outlook for FY 2020

Appendix

Financial Year 2019

Prof. Klaus Josef Lutz


Financial Year 2019

Highlights 1

Operative earnings increase achieved in a challenging

market environment

Settlement EUR 68.6 million with antitrust authorities

concluded; official liability claim filed

Adjustments to the corporate portfolio:

- Sale of Tessol filling station business

- Sale of Kartoffel Centrum Bayern GmbH

- Sale of shares in ahg Autohandelsgesellschaft mbH

BayWa r.e.: Ongoing negotiations on accepting a minority

shareholder in the context of a capital increase

Successful issuance of a green bond (unrated) of EUR 500

million


Financial Year 2019

Highlights 2

20192018

16,625.7 17,059.0

EBIT

+9.3%

2018

188.4

2019

172.4 Segments’ performance varies:

- EBIT growth y/y in the Energy (+ 32.7%) and Building

Materials segments (+3.2%)

- Agriculture segment below year-earlier level (-3.5%)

Highest EBIT contribution by BayWa r.e. (EUR 101 million)

Earnings burdened in an amount of EUR 68.6 million (crop

protection antitrust fine) nearly compensated through

investment disposals

Dividend proposal of EUR 0.95 per share*; corresponds to

dividend yield of 3.4%

* Subject to approval by the Annual General Meeting of Shareholders

Employees

+4.6%18,004

2018 2019

18,831

Dividend

+0.05 Euro

2018

0.95*

2019

0.90

In

EUR m

Revenues

+2.6%

In

EUR m


Development of the Group 2019

Multi-year comparison of EBIT


20192015 2016 2017 2018

Ø 167.0158.1

144.7

171.3 172.4

188.4In EUR m

Development of the Group 2019

Multi-year comparison of EBIT Q4


20172015 2016 2018 2019

Ø 94.2

75.5

59.3

80.9

144.1

111.1

In EUR m


Expansion progress

* Without Innovation & Digitalisation Segment

0

50

100

150

200

250

300

2009 2014 20172010 2011 20132012 201820162015 2019

Operating EBIT contribution

Expansion (companies acquired from 2009 onwards)

Core region (companies consolidated back in 2008)

Operating EBIT contribution from expansion in %*

1.8% 20.8% 18.5% 30.1% 44.9% 43.6% 56.2% 54.9% 54.4% 65.1%

In EUR m

66.1%

Energy

SegmentKey Figures 2019

Revenues

4,474.3 EUR m

(+12.7% y/y)

EBIT

127.4 EUR m

(+32.7% y/y)

Employees

2,812(+16.8% y/y)

Sold Output

Capacity

911.6 MW(LY:453 MW)

Volume Wood

Pellets

+24.3% y/y

Operational

Management

8.3 GW(LY: 5.7GW)


50

60

70

80

90

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2018 2019

Energy Segment 2019

Market Developments


Renewable Energies

Source: 1) BNEF; 2) Statista; 3) BAFA; 4) depv

Global investments in renewable energies in 20191

Global capacity installation in 2019 and forecast for 20201

Onshore wind energy

EUR 112.8 bn(+4% y/y)

In GW

Average heating oil price in Germany2

In cent per liter

Sale of heating oil3 and wood pellets4 in Germany in 2019

Heating oil in tsd. tons

Conventional Energy

Solar

EUR 136.4bn (-4% y/y)

2018

13,256

2019

15,129

+14.1%

Wood pellets in tsd. tons

2019

2,4152,820

+16.8%

2018

45.1 55.3 69.4

108.0121.0

137.5

0

50

100

150

200

250

2018 2019 2020

Onshore wind energy Solar

Renewable Energies

Energy Segment 2019: Renewable Energies business unit

Revenues and EBIT as against the previous year


Revenues: ∆ 18/19 EUR +445.1 million

EBIT: ∆ 18/19 EUR +28.5 million

Increase in revenues and profit through project sales and strong growth in solar trade business

Significant growth in project business: total of 23 wind and solar parks with an output of 911.6 MW sold, including 4 project rights (previous year: 453.0 MW);

BayWa r.e. takes on new maintenance and operation contracts (e.g. maintenance of 230 wind turbines with an overall output of around 600 MW for Siemens Gamesa)

Uptrend in PV components trading due to lower production costs leads to greater competitiveness: sold output of PV modules up +70% y/y

Growth in the service business to more than 8.3 GW (+46% y/y)

1,530.2

2018

Revenues

2019

1,975.3

+29.1%In EUR m

2018 2019

EBIT

72.5

101.0

+39.3%



BayWa r.e.: Earnings development since 2009

EBIT contribution

101.0

2009 20132010 20142011 2012 2015 2016 2017

36.5

2018 2019

6.1

21.127.1

32.5 34.5

61.867.3 66.6

72.5

CAGR

+32.4%

In EUR m


Cooperation between AB InBev and BayWa r.e.

Page 13

AB InBev breweries soon with 100% renewable electricity

Covering 14AB InBev’s breweries

and 50 brands

10-year Virtual

Power Purchase

Agreement

250 GWH solar

power generated each

year for InBev’s

breweries

Largest Pan-European corporate solar power deal in history

Goal: 100% purchased electricity from renewable sources by 2025

New solar site in Spain funded and developed by BayWa r.e by March 2022

Until then BayWa r.e. provides AB InBev with 75 GWH from wind farm

27 March 2020

Conventional Energy

Energy Segment 2019: Conventional Energy business unit





Volume-induced increase in revenues due to price hedging purchases

Increase in earnings due to healthy margins in the heating oil and fuel business

Volume growth in heating oil (+7.1% in total y/y; Germany around +30% y/y) and wood pellets (+24.3% y/y)

Decline in the sale of fuels (-9.9% y/y) and lubricants (-3.7% y/y)

23.5

2018

26.4

2019

EBIT

+12.3%

2018 2019

Revenues

2,438.3 2,499.0

+2.5%In EUR m

Financials Energy SegmentIncome Statement


in EUR m 2015 2016 2017 2018 2019 ∆18/19 (%)

Revenues 3,264.2 2,976.0 3,594.7 3,968.5 4,474.3 12.7%

EBITDA 114.8 113.7 121.3 128.4 176.7 37.6%

% of Revenues 3.5% 3.8% 3.4% 3.2% 3.9%

EBIT 77.2 83.1 85.0 96.0 127.4 32.7%

% of Revenues 2.4% 2.8% 2.4% 2.4% 2.8%

EBT 65.8 69.3 69.0 75.2 87.5 16.4%

% of Revenues 2.0% 2.3% 1.9% 1.9% 2.0%

Agriculture


Revenues

10,857.5 EUR m

(-1.4% y/y)

EBIT

96.6 EUR m

(-3.5% y/y)

Employees

10,580(+1.5% y/y)

Grains and

Oilseeds

32.2 m tons

(-2.5% y/y)

Fruit

380,550 tons

(+8.2% y/y)

Tractor sales

New

4.617 number

(-4.1% y/y)


Agriculture Segment in 2019

Market Developments: Products


Global grain balance (excl. rice)

Source: USDA; * Forecast 2019/20, as of February 2020

In millions of tons

Price trend in 2019:

Good supply situation worldwide causes commodity prices to stagnate

Forecast 2020:

Current demand likely to result in stable prices

Global grain production 2018/19 of 2.1 million tons at previous year’s

level; consumption up +1.0% y/y

German grain harvest 2019 of 44.7 million tons up by around +18.0%

y/y; slightly below average in a multi-year comparison

Increase of 1.9% y/y expected for global grain production 2019/20

Oilseed meal production 2018/19 of 333 million tons up +0.5% y/y; soy

meal of almost 234 million tons up +0.6% y/y

Expected increase of 2% y/y overall in oilseed meal 2019/20; soy meal

likely to rise by 2.3% y/y

6459

29

53

7

-29

-11

19982041

1996

2171 2124 2127 2167

-45

-15

15

45

75

105

135

250

750

1250

1750

2250

2750

2013/14 2014/15 2015/16 2016/17 2017/18 2018/19 2019/20*

Ending Stocks Production Consumption

Agriculture Segment 2019: BAST business unit



Revenues: ∆ 18/19 EUR -411.0 million

EBIT: ∆ 18/19 EUR -12.0 million

Volume and price induced decline in revenues and EBIT

Decline of 1.6 million tons in the trading volume of grains and oilseed meals to 25 million tons mainly due to:

Discontinuation of milling grains business with Iran

Weak demand for agricultural products (especially in UK) due to the mild winter and high inventory levels

US/China trade conflict burdens soya business with excess supply of US soya in the EU market

31.1

19.1

2018 2019

EBIT

-38.6%

20192018

Revenues

5,286.8 4,875.8

-7.8%

BAST

In EUR m

Agriculture Segment 2019

Market development: Global Produce


Apfelpreise in Deutschland3

Source: 1) Destatis; 2) WAPA; 3) EU apple dashboard

Apple harvest development in 2019

In millions of tons

2018

1.2

2019

1.0

-16.8%

Germany1

In millions of tons

2018 2019

0.58 0.55

-3.8%

New Zealand2 In euro cent / kilo

In line with expectations, apple harvest in Germany smaller than the record

volume of previous year

Loss of plums, damsons, cherries and pears due to drought

NZ apple harvest yields small fruit sizes and poorer quality due to late frosts

Good supply of apples from harvest in previous year results in significant price

declines

At the start of the new harvest (as from August 2019), rising prices due to

shorter supply (above the five-year average)

55

51

5149 49

45

49 50 5149 42

52

5049

50 50 50 51 51 5254

56

49

5149 48 49

30

35

40

45

50

55

60

65

Oct-18 Dec-18 Feb-19 Apr-19 Jun-19 Aug-19 Oct-19 Dec-19

2018/19 2019/20 5-year average

Agriculture Segment 2019: Global Produce business unit





Revenues slightly higher y/y due to steady growth in sales volumes

Overall, fruit sales in 2019 grew by +8% y/y to 380,550 tons

Positive sales trend in soft and stone fruit (+64% y/y), tropical fruit (+47% y/y) and fruit vegetables (+21% y/y)

Decline in the sale of dessert pome fruit (-5% y/y)

Earnings benefits from extraordinary income through real estate disposals

2018 2019

EBIT

27.2

36.9

+35.7%

20192018

Revenues

807.9 843.9

+4.5%

Global Produce

In EUR m


Market development: Inputs


Fertiliser prices of urea & KAS in euros1

Source: 1) Agrarzeitung; 2) Destatis

= Granular urea, Baltic ports= KAS, Baltic ports

Decline in operating resources sales in 20192

Directives and dry weather cause sales to drop in

Germany:

Fertiliser -6% y/y

Crop protection -8% y/y

Seed slightly lower y/y

Reduction in cultivation area for rapeseed also

contributes to the slowdown in demand for seed and

crop protection

Feedstuff down 0.3% y/y due to lower livestock levels

Agriculture Segment 2019: Agri Trade & Service





Increase in revenues through higher grain trading volume (+16.1% y/y; poor harvest in previous year)

Sale of operating resources in Germany below year-earlier level:

Decline in the demand for fertilisers due to poor weather conditions and Fertiliser Ordinance; in addition, higher prices affect demand in 2H

Weak rapeseed harvest and lower incidence of disease due to the weather conditions burden sales of crop protection; seed sales below previous year (-6% y/y)

Restructuring measures taking effect; around EUR 3 million restructuring costs included in earnings

20192018

Revenues

3,298.8 3,454.4

+4.7%

Agri Trade & Service

2018 2019

EBIT

5.2

7.8

+50.0%

In EUR m


Market development: Agricultural Equipment


Source: 1) VDMA; 2) Bildquelle: Erwin Koch, Hessischer Bauernverband e.V.

Agricultural equipment sales in

Germany

In EUR bn1

Sentiment in the agricultural industry reached its lowest

level at the end of 2019 since three and a half years2

Demand weakens in 2019 at a high level

Earnings and income situation of German farmers deteriorated in 2019, compared with

the two previous very good years

Capital expenditure on agricultural machinery likely to match the previous year’s level in

1H2020

New registrations

of tractors in

Germany1

2018 2019

8.48.6

-2.3%

2018

28,979

2019

27,670

+4.7%

Number

Agricultural Equipment

Agriculture Segment 2019: Ag. Equipment business unit





Sales growth due to positive performance of used machinery and service business

New machinery sales declined by -4.1% y/y; used machinery sales +10.0% y/y

Growth in the service business due to higher sales figures in past years

Burden on operating result due to higher costs from collective wage agreements, raising personnel capacities in the service business and advertising expenses

36.6

2018 2019

EBIT

32.8

-10.4%

Revenues

2018 2019

1,622.4 1,683.4

+3.8%In EUR m

Financials Agriculture SegmentIncome Statement


in EUR m 2015 2016 2017 2018 2019 ∆18/19 (%)

Revenues 10,149.5 10,884.5 10,836.5 11,015.9 10,857.5 -1.4%

EBITDA 143.8 125.6 141.7 159.6 188.2 17.9%

% of Revenues 1.4% 1.2% 1.3% 1.4% 1.7%

EBIT 90.1 70.1 82.1 100.1 96.6 -3.5%

% of Revenues 0.9% 0.6% 0.8% 0.9% 0.9%

EBT 52.8 31.8 47.7 63.1 56.1 -11.1%

% of Revenues 0.5% 0.3% 0.4% 0.6% 0.5%

Building

Materials


Revenues

1,702.8 EUR m

(+5.3% y/y)

EBIT

32.1EUR m

(+3.2% y/y)

Employees

4,371(+3.8% y/y)

Construction

Equipment

+18.7% y/y

Civil

Engineering

+9.8% y/y


Sites

203(LY: 200)

Building Materials Segment 2019

Market Developments

Page 27

Building permissions in Germany3

in 1,000

113

194

48

Private homes Apartment

buildings

Other

homes

Source: 1) Destatis; 2) Hauptverband der deutschen Bauindustrie; 3) Heinze Marktbericht, February 2019

Sales in the German

construction industry2

in EUR bn

Order intake in the

construction

industry in % vs

20181

December

20192019

-0.5%

+8.2%348 356

2018 2019

+2.2%

Homes completed in

Germany2 in 1,000

287 300

2018 2019

+4.5%

27 March 2020

2018 2019

137.2126.6

+8.4%

Building Materials Segment 2019





Volume- and price-induced growth in revenues

Building materials business benefits from sustained good construction activities and mild weather conditions

EBIT benefits especially from:

Expansion of high-margin own brand product range

Networking of digital and stationary sales channels

2018

EBIT

2019

31.1 32.1

+3.2%

2018 2019

Revenues

1,617.5 1,702.8

+5.3%In EUR m

Building Materials

Financials Building Materials SegmentIncome Statement


In EUR m 2015 2016 2017 2018 2019 ∆18/19 (%)

Revenues 1,496.4 1,530.1 1,606.1 1,617.5 1,702.8 5.3%

EBITDA 42.2 43.9 45.8 47.2 57.0 20.8%

% of Revenues 2.8% 2.9% 2.9% 2.9% 3.3%

EBIT 27.4 28.5 30.1 31.1 32.1 3.2%

% of Revenues 1.8% 1.9% 1.9% 1.9% 1.9%

EBT 17.5 18.8 21.2 22.2 23.4 5.4%

% of Revenues 1.2% 1.2% 1.3% 1.4% 1.4%

Innovation

& Digitali-

sation

Segment

Key Figures 2019

Revenues

10.6 EUR m

(-0.6% y/y)

EBIT

-14.6 EUR m

(-18.7 y/y)

Employees

198(+8.2% y/y)

Land use

NEXT Farming

25% in DE

Visitors FarmFacts

stand (Agritechnica)

6,000

Users NEXT

Farming

>18,700


Innovation & Digitalisation Segment 2019

Market developments


eBusiness market volume in Germany4

In EUR bn

Source:1) BayWa estimates; 2) Roland Berger; 3) Handelsblatt; 4) behv

Digital Farming

Expected growth in the global market volume for

digital farming of at least 10% per year1

Growth forecast for the market

volumes of digitalised precision

farming2 in EUR bn

CAGR

+13%Smart Farming

as a driver with

a productivity

increase of up to

30%3

Continued growth in interactive trade and e-commerce in

Germany in 2019

2018 2019

e-commerce

Interactive trade

85.594.0

20.4

65.1

21.4

72.6

+9.9%

2017 2021

5.5

3.4

Innovation & Digitalisation Segment 2019



Revenues: ∆ 18/19 EUR -0.1 million


Revenues at previous year’s level

Negative operating result in line with planning through:

higher marketing expenses due to Agritechnica

investment in building up development and sales capacities

EBIT

2018 2019

-12.3-14.6

-18.7%

10.7

20192018

Revenues

10.6

-0.6%

Digital Farming & eBusiness

In EUR m

Group Financials

Andreas Helber


Group Financials

Final quarter as against the previous year



EBIT: ∆ 18/19 EUR -33,0 million

Second strongest closing quarter in a multi-year comparison

Slight increase in revenues driven by the Energy and Building Materials business units

Decline in EBIT as large solar project Don Rodrigo was sold in the previous year

Q4 2019Q4 2018

EBIT

144.1

111.1

-22.9%

Q4 2018

4,429.0

Q4 2019

Revenues

4,586.0

+3.5%In EUR m

Group FinancialsIncome Statement


in EUR m 2015 2016 2017 2018 2019 ∆18/19 (%)

Revenues 14,928.1 15,409.9 16,055.1 16,625.7 17,059.0 2.6%

EBITDA 288.3 272.6 318.4 315.3 403.0 27.8%

% of Revenues 1.9% 1.8% 2.0% 1.9% 2.4%

EBIT 158.1 144.7 171.3 172.4 188.4 9.3%

% of Revenues 1.1% 0.9% 1.1% 1.0% 1.1%

EBT 88.1 69.6 102.4 92.6 79.2 -14.5%

% of Revenues 0.6% 0.5% 0.6% 0.6% 0.5%

Consolidated net income 61.6 52.7 67.2 54.9 61.1 11.3%

Tax rate 30.1% 24.3% 34.4% 40.7% 22.8%

Consolidated net income per share 1.78 1.52 1.93 1.57 1.74 10.8%

Share of minority interest 13.4 21.6 27.9 22.6 24.4 8.0%

Share of owners of parent company 48.2 31.1 39.3 32.3 36.7 13.6%

Earnings per share (EPS) in EUR1 0.56 0.68 21.4%

Earnings per share (EPS) in EUR2 1.39 0.90 1.13 0.92 1.05 14.1%

1) Adjustment in calculating earnings per share of the previous year in accord-ance with IAS 8 (error correction in accordance with IAS 8.42); 2) Earnings per share, excluding hybrid dividend

Group FinancialsBalance Sheet


In EUR m 2015 2016 2017 2018 2019 ∆18/19 (%)

Total assets 6,036.7 6,474.9 6,488.0 7,511.5 8,867.2 18.0%

Equity 1,075.9 1,098.3 1,435.5 1,389.1 1,358.6 -2.2%

Equity ratio 17.8% 17.0% 22.1% 18.5% 15.3%

Equity ratio adjusted1 21.4% 20.8% 25.7% 21.6% 20.0%

In EUR m 2015 2016 2017 2018 2019 ∆18/19 (%)

Non-current assets 2,287.2 2,355.7 2,396.9 2,476.9 3,276.6 32.3%

Current assets 3,739.7 4,094.2 4,077.4 5,030.4 5,585.9 11.0%

Provisions 913.8 956.2 951.6 929.9 1,084.4 16.6%

Long-term debt (Ci2) 1,223.2 1,269.3 1,042.3 883.1 1,301.1 47.3%

Long-term leasing liabilities 164.5 706.5 > +100%

Short-term debt (Ci2) 1,321.0 1,520.8 1,446.9 2,232.2 2,313.6 3.6%

Short-term leasing liabilities 11.2 68.2 > +100%1) Adjusted for the reserve formed for actuarial profits and losses; 2) Ci = Credit institute

Group FinancialsCash Flow Statement


in EUR m 2015 2016 2017 2018 2019 ∆18/19 (%)

Cash earnings 210.5 157.5 168.4 238.7 223.4 -6.4%

Consolidated net income 61.6 52.7 67.2 54.9 61.1 11.3%

Cash flow from operating activities 19.0 208.6 -170.2 -452.5 -212.0 53.1%

Cash flow from investing activities -143.5 -123.6 -60.5 -243.0 -149.4 38.5%

Cash flow from financing activities 98.7 -63.0 235.9 710.8 469.6 -33.9%

Cash & cash equivalents at the start

of the period108.4 84.5 104.4 105.5 120.6 14.3%

Cash & cash equivalents at the end

of the period84.5 104.4 105.5 120.6 229.7 90.5%

Group Financials

Adjusted net debt in relation to EBITDA and equity


230 71900

Readily

marketable

inventories

Liabilities

(Credit

institute)

in EUR m

Non-Recourse

Financing

Cash Adjusted

net debt

3,615

2,413

403

Adjusted

net debt

EBITDA

2,413

Adjusted

net debt

Adjusted

equity*

2,413

1,648

Adjusted net debt

EBITDA = 6.0 = 1.46

Adjusted net debt

Adjusted Equity*

in EUR m in EUR m

* Adjusted for the reserve formed for actuarial profits/losses in the

measurement of pension provisions amounting to approx. EUR 289 million

Group Financials

Adjusted net debt in relation to EBITDA and equity

(excluding BayWa r.e.)


859

177

900

Liabilities

(Credit

institute)

in EUR m

Cash Readily

marketable

inventories

Adjusted

net debt

1,937

859

265

EBITDAAdjusted

net debt

Adjusted net debt

EBITDA = 3.2

in EUR m

„Trading group“ leverage

Retaining the original KPI with the

following adjustments:

New range for investment grade

trading companies: 3.0 – 4.5

BayWa r.e not included - financial

liabilities, cash holdings and non-

recourse project financing, as well

as deduction of BayWa r.e.’s

EBITDA

Virtual equity ratio of BayWa r.e.

Investor IPP case

Page 40

In EUR million

8,8679,299 9,555

10,693 10,693

1,3591,922 2,162

3,0693,569

20232019 2028*2020 2028**

Total assets

Equity

* Without additional equity injection of EUR 500 million; ** With additional equity injection of EUR 500 million

Equity ratio:

15.3 %

Equity ratio:

20.7 %

Equity ratio:

22.6 %

Equity ratio:

28.7 %

Equity ratio:

33.4 %

27 March 2020

Finanzkennzahlen Konzern Economic Profit 2019


in EUR mNet Operating

Profit

Ø Invested

CapitalROIC WACC Spread Economic Profit

Renewable Energies 101.0 1,522.2 6.63% 4.50% 2.13% 32.5

Conventional Energy 26.4 -3.9 >-100.00% 5.50% >-100.00% 26.6

Energy Segment 59.1

BAST 19.1 581.3 3.29% 4.90% -1.61% -9.4

Global Produce 36.9 345.9 10.68% 5.90% 4.78% 16.5

Agri Trade & Service 7.8 1,088.6 0.71% 4.60% -3.89% -42.3

Agricultural Equipment 32.8 579.2 5.66% 5.50% 0.16% 0.9

Agriculture Segment -34.2

Building Materials Segment 32.1 429.4 7.48% 5.40% 2.08% 8.9

Other Activities 2019




EBIT consists of administrative costs and consolidation effects

2018

-42.5

2019

EBIT

-53.1

-24.9%

2018 2019

Revenues

13.1 13.7

+4.7%

In EUR m

Operational Outlook (ex Coronavirus)for FY 2020

Prof. Klaus Josef Lutz


Operational Outlook 2020

Energy Segment


BayWa r.e.’s growth trend is ongoing; projected output of almost 1.2 GW planned for 2020

Uptrend in sales from trading PV components expected to continue

Acquisitions in Canada offer additional earnings potential

By the start of 2020, a major project with AB InBev already signed (10-year electricity supply contracts) and construction of two solar parks

Stable service business expected

Capital increase still planned for BayWa r.e through acceptance of a minority shareholder

Declining crude oil price could keep previous year’s strong demand for heat energy carriers stable

Trading of lubricants and fuels likely to slow due to the economic situation

Positive stimulus through the expansion of the new BayWa Mobility Solutions business

Sale of Tessol filling station business results in a structural decline in earnings in the conventional energy business


Project sales BayWa r.e. 2020: almost 1.2 GW


North America

683 MW

Europe

386 MW

Asia

105 MW


Agriculture Segment


One-time charges from the previous year are no longer applicable as trade conflicts weaken

Good development in the speciality business anicipated (especially Royal Ingredients)

Global Produce: greater area for cultivating apples (+4%) in New Zealand and the full year inclusion of Freshmax raise the sales volume;

higher earnings margins planned compared with the previous year as fruit quality should be better

Slight recovery in the collection and sales volumes of grain and oilseed anticipated in Germany

Cost savings through structural optimisation in domestic grain and operating resources business

Agricultural Equipment: sideways movement expected at a high level; order intake 2019 higher y/y also due to Agritechnica


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 expected from raising subsidies for refurbishment and renovation of buildings in the context of the Climate Package 2030

Optimisation of the online range of products likely to drive demand upwards

Ongoing expansion of higher-margin own brand product range

Earnings contributions from project business planned (Schrobenhausen, Burgkirchen and Borna near Leipzig)

Own logistics resources offer competitive advantage with regard to the scarce transport capacities in the construction sector

Price-induced earnings growth

Thank you for your attention!

Appendix


Energy Segment: GF. Regenerative Energien

Capital increase for BayWa r.e. through a private placement

Page 50

Transaction expected to be concluded in the first quarter of 2020

Capital increase to accelerate implementation of medium- and long-term

projects and to support further investments

Third party investor gives BayWa r.e. financial scope and allows Company to

exploit additional growth and opportunities

BayWa AG continues negotiations regarding the admission of an investor as

a minority shareholder (49%) of BayWa r.e., which currently is a 100%

subsidiary

10 GW project

development

pipeline in 18

markets

Leading service

platform with

7 GW under

management

#1 PV distributor in

Europe and top 3

in the US

BayWa r.e. biggest achievements until today

BayWa AG Investor

51% 49%

Projects Services Solutions

BE Solar

Projects

BE Wind

Projects

BE

Services

BE Energy

Trading

BE Solar

Trade

BE Energy

Solutions

Legal entityOrganisational set-up bay Business

Segments(3) and Business Entities (6)

Envisaged Transaction structure

BayWa r.e. renewable energy

27 March 2020

Energy Segment

Mobility Solutions: CO2-optimised solutions provider

Page 51

Electromobility LNG fuel stations Digital mobility

Fuel card and billing system

Sale of digital products

Project planning and operation of LNG fuel

stations

Services and offerings for alternative fuels

Fleet analysis, project planning and operation of

charging infrastructure

Maintenance and servicing

27 March 2020

BayWa Share 2019/20


The BayWa share 2020:

Price performance compared with the SDAX and DAX

27 March 2020

Source: 1) Frankfurt Stock Exchange; 2) finanzen.net

BayWa

-6.4%

SDAX2

-26.9%

DAX

-25.5%

9,150.33*closing price

9,866.31*closing price

€26.45closing price

25 March 2020: performance & closing prices1

* points

Page 53

60%

70%

80%

90%

100%

Jan-20 Jan-20 Jan-20 Feb-20 Feb-20 Mar-20

BayWa SDAX DAX

High on 12/02/20

BayWa: € 28.80

High on 19/02/2020

DAX: 13,789.00

High on 17/02/2020

SDAX: 13,066.71

BayWa Share 2019


Share price performance

(from 01/01/2017 until 25/03/2020)

Further information (Security code 5194062) in EUR

Closing price on 31/12/2018 20.60

High (11/12/2019) 29.40

Low (02/01/2019) 20.70

Closing price on 31/12/2019 28.25

Market capitalisation in EUR m

As per 31/12/2018 728.8

As per 31/12/2019 994.3

Freefloat Market capitalisation as per 31/12/2019 397.8

0 €

5 €

10 €

15 €

20 €

25 €

30 €

35 €

40 €

Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20

BayWa Share 2019


BayWa share profile (31/12/2019)Shareholder structure (31/12/2019)

34.6%

25.1%

40.3%

Bayerische Raiffeisen-Beteiligungs AG

Raiffeisen Agrar Invest AG

Freefloat

Stock exchanges Frankfurt, Munich, Xetra

Segment Official Market / Prime Standard

Security code no. 519406 and 519400

ISIN DE0005194062 and DE0005194005

Share capital EUR 90,314,398.72

Number of shares 35,279,062

Denomination

No-par value shares with an arithmetical portion of €

2.56 each in the share capital

Securitisation

In the form of a global certificate deposited with

Clearstream Banking AG. Shareholders participate

as co-owners corresponding to the number of shares

held (collective custody account)

Investor Relations Contact

Josko

RadeljicHead of Investor Relations

T +49 (089) 92 22 3887

F +49 162 2828671

[email protected]

Raphaela

da Costa von GehlenInvestor Relations Manager

T +49 (089) 92 22 2873

F +49 151 44024858

[email protected]

Renate

LorenzAssistant

T +49 (089) 92 22 3881

[email protected]

Financial Calendar 2020

ANALYST

CONFERENCE

CALL FY 2019

27thMarch

7thMay

ANALYST

CONFERENCE

CALL Q1 27 March 2020 Page 56

26thMay

ANNUAL GENERAL

MEETING,

ICM MUNICH

6thAugust

ANALYST

CONFERENCE

CALL Q2

André Pierre

WahlenJunior Investor Relations Manager

T +49 (089) 92 22 3879

[email protected]

United for success.

Documents

Annual Financial Statements as per 31 December 2019 Analysts’ … · 2020-04-07 · Market Developments: Products 27 March 2020 Page 17 Global grain balance (excl. rice) Source: