FY/Q4 2013 Investor Conference Call Presentation Charts

728 views
597 views

Published on

Presentation charts for FY/Q4 2013 Investor Conference Call

Published in: Investor Relations
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
728
On SlideShare
0
From Embeds
0
Number of Embeds
7
Actions
Shares
0
Downloads
5
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

FY/Q4 2013 Investor Conference Call Presentation Charts

  1. 1. Investor Conference Call FY/Q4 2013 Results February 28, 2014 / Marijn Dekkers, CEO
  2. 2. Disclaimer This presentation may contain forward-looking statements based on current assumptions and forecasts made by Bayer Group or subgroup management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer’s public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments. Page 2 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers
  3. 3. 2013 – Continuous Growth  Dynamic development in the Life Sciences, MaterialScience below expectations  Outstanding growth for pharma launch products (sales of €1.5bn)  Further strategic progress with planned bolt-on acquisitions  Guidance 2014: Further growth in sales and earnings Page 3 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers
  4. 4. FY 2013 – All Targets Achieved Operationally Sales ∆ Fx & portf. adjusted, EBITDA before special items 2013 Guidance Original (@ ØQ4’12 FX) 2013 Reported ∆ 2013 Reported vs. 2012 ∆ 2013 Reported vs. 2012 (@ ØQ4’12 FX) Sales +4-5% cpa. to ~€41bn €40.2bn +5% cpa. +5% cpa. adj. EBITDA mid-single-digit % increase €8.4bn +1% +6% core EPS high-single-digit % increase €5.61 +6% +12% Page 4 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers
  5. 5. Q4 2013 – Mixed Performance Sales EBIT EBITDA Core EPS in € million % currency & portfolio adj. in € million adjusted** in € million in € 9,860 9,888 1,826 729 Q4’12* Q4’13 +6% Q4’12* 655 Q4’13 -10% Page 5 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers 1,769 1.01 Q4’12* Q4’13 -3% Q4’12* 1.10 Q4’13 +9% *Prior-year figures restated **before special items
  6. 6. Q4 2013 – Regional Performance: Growth Led by Emerging Economies In € million, ∆% yoy Fx adjusted Q4 2013 Group Sales by Region Emerging Economies¹ +8% USA +6% 20% Emerging Economies +15% +6% ~1,600 40% ~1,400 0% 31% Western Europe +5% ~500 9% -3% ~400 Others² +11% Group €9,888m; +7% Page 6 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers Latin America Emerging Asia³ Eastern Europe Africa & Middle East ¹ Emerging economies include: Latin America, Asia w/o Japan, Australia, New Zealand, Africa and Middle East incl. Turkey, Eastern Europe ² Others = Japan, Australia, New Zealand, Canada ³ Emerging Asia = Asia w/o Japan, Australia, New Zealand
  7. 7. Planned Bolt-on Acquisitions to Strengthen HealthCare Portfolio Algeta ASA: Strengthening Oncology Dihon Pharmaceutical Group: Chinese OTC brands  Almost 98% of share capital tendered  Transaction agreement signed on February 26, 2014  Required regulatory approvals obtained  Compulsory acquisition and delisting intended  Closing expected in Q1’14  Enterprise value: ~€1.9bn  Regulatory approval process prepared  Closing expected in H2 2014  Portfolio of well-known local consumer brands  Sales 2013*: €123m Significant synergies expected from full control over Xofigo Significant synergies expected from complementary OTC business * Not audited Page 7 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers
  8. 8. Pharma – Incremental Investments in 2014 for a New Performance Level New product sales in € bn ~2.8  Launch product* sales target of ~€2.8bn in 2014 (old aspiration 2015: >€2.5bn)  Launch phase to continue with >100 new launch events**  Continuous R&D investments in lifecycle management 1.5  R&D investments in new drug candidates  Increased marketing and sales investments in emerging markets 0.4  Incremental marketing and R&D investments of €0.5bn planned in 2014 2012 2013 2014e Page 8 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers * Xarelto, Eylea, Stivarga, Xofigo, Adempas ** new indications and new countries
  9. 9. Pharma – Peak Sales Potential of New Products Raised to ≥€7.5bn* Old New >€2bn  Continued successful launch execution and life cycle management ~€3.5bn ≥€1bn  Successful launch and positive life cycle management ≥€1.5bn  Unchanged ≥€1bn  Unchanged ≥€1bn  Unchanged ≥€0.5bn *assuming approvals and launches as planned Page 9 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers
  10. 10. FY 2014 Group Guidance – Further Sales and Earnings Growth Sales ∆ Fx and portfolio adjusted, EBITDA before special items 2013 Sales 2014E* €40.2bn ~5% to ~€41-42bn (neg. FX effect approx. -2%) adj. EBITDA €8.4bn low- to mid-singledigit % increase (neg. FX effect approx. -5%) core EPS €5.61 mid-single-digit % increase (neg. FX effect approx. -6%) Page 10 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers *Assuming average Fx rates of Q4’13 (USD 1.36) Outlook depends on specific planning assumptions as detailed in the Annual Report
  11. 11. FY 2014 – R&D and CapEx Budgets R&D 2014e: ~€3.5bn (+9%) HealthCare thereof Pharma ~€1.9bn HealthCare MaterialScience ~€2.3n MaterialScience ~€0.7bn ~€0.2bn 6% CapEx (PPE) 2014e: ~€2.1bn (+20%) CropScience ~€0.9bn ~€0.7bn 31% 31% 26% 65% 3% Reconciliation ~€0.1bn Page 11 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers 10% 28% Reconciliation ~€0.2bn CropScience ~€0.6bn
  12. 12. FY 2014 – Guidance by Subgroup Sales Guidance* HealthCare Pharma Adj. EBITDA Guidance* Mid-single-digit % increase cpa. Slight increase (FX -2%) (FX ca. -€250m) High-single-digit % increase cpa. (FX -2%) Low- to mid-single-digit % increase (FX ca. -€150m) Launch product sales: ~€2.8bn Adj. EBITDA margin: level with prior year (2016: ≥33%) Consumer Health Low- to mid-single-digit % increase cpa. Slightly below prior year (FX -3%) (FX ca. -€100m) CropScience Mid- to high-single-digit % increase cpa. Low-single-digit % increase (FX -3%) (FX ca. -€150m) Mid-single-digit % increase cpa. Increase (FX ca. -€50m) MaterialScience (FX -2%) Q1’14 vs. Q1’13: increase cpa. Page 12 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers Q1’14 vs. Q1’13: significant increase *Assuming average Fx rates of Q4’13 (USD 1.36) Sales ∆ Fx & portf. adjusted, EBITDA before special items Outlook depends on specific planning assumptions as detailed in the Annual Report
  13. 13. Investor Conference Call FY/Q4 2013 Results February 28, 2014 / Marijn Dekkers, CEO
  14. 14. Appendix Page 14 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers
  15. 15. Q4 2013 – HealthCare In € million, ∆% yoy, () = Fx & portf. adjusted Sales Consumer Health -4% (+1%) Earnings1 36% 1,964 Pharma +4% (+12%) 2,975 Adj. EBIT* Adj. EBITDA* 1,359 835 1,337 822 -2% -2% 1,018 602 HealthCare €4,939m; +0% (+7%) Price +3% Volume +5% Fx -8% Page 15 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers Portfolio +1% 524 Q4‘12 515 Q4‘13 -2% 416 985 -3% 580 -4% 405 -3% Q4‘12 Q4‘13 1 *before special items Prior-year figures restated.
  16. 16. Q4 2013 – CropScience In € million, ∆% yoy, () = Fx & portf. adjusted Sales Environmental Science -11% (-5%) 154 171 Earnings1 Crop Protection +6% (+14%) Adj. EBIT* Adj. EBITDA* 1,626 319 +8% 295 Seeds +20% (+25%) 203 +21% 168 CropScience €1,951m; +5% (+13%) Price +1% Volume +12% Fx -8% Page 16 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers Portfolio +1% Q4‘12 Q4‘13 Q4‘12 Q4‘13 1 *before special items Prior-year figures restated.
  17. 17. Q4 2013 – MaterialScience In € million, ∆% yoy, () = Fx & portf. adjusted Sales Polycarbonates -4% (-1%) Earnings1 Polyurethanes 0% (+4%) 640 1,472 264 CAS** -8% (-1%) Adj. EBIT* Adj. EBITDA* 248 -6% 417 IO*** -4% (-2%) 162 95 88 Q4‘12 Q4‘13 -7% MaterialScience €2,691m; -3% (+2%) Price -2% Volume +4% Fx -4% Page 17 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers Portfolio 0% *before special items Q4‘12 Q4‘13 **CAS: Coatings, Adhesives, Specialties *** IO: Industrial Operations 1 Prior-year figures restated.
  18. 18. Q4 2013 – Cash Flow And Net Debt Development Cash Flow in € million, Net Debt in € billion Q4 2013 Cash Flow GCF NCF Net Debt Development Investments oFCF -€1.0bn 6.7 978 ∆ y-o-y 7.7 1,580 776 804 +35% +74% +4% >100% Page 18 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers Sep 30, 2013 Dec 31, 2013
  19. 19. FY 2013 – HealthCare In € million, ∆% yoy, () = Fx & portf. adjusted 2013 Sales Consumer Health -1% (+3%) 36% 7,736 Earnings1 Pharma +4% (+9%) Adj. EBIT* Adj. EBITDA* 11,188 5,334 +4% 5,119 3,973 +5% 3,490 +8% 3,787 3,232 2,327 HealthCare €18,924m; +2% (+7%) Price +1% Volume +6% Fx -6% Portfolio +1% 2,552 +10% 1,887 1,844 -2% 1,460 1,421 FY‘12 FY‘13 FY‘12 FY‘13 -3% *before special items Page 19 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers 1 Prior-year figures restated.
  20. 20. FY 2013 – CropScience In € million, ∆% yoy, () = Fx & portf. adjusted 2013 Sales Environmental Science -4% (+1%) Earnings1 Crop Protection +7% (+11%) 651 974 Adj. EBIT* Adj. EBITDA* 7,194 2,248 +11% 2,025 1,801 +17% 1,543 Seeds +1% (+1%) CropScience €8,819m; +5% (+9%) Price +3% Volume +7% Fx -5% Portfolio +1% FY‘12 FY‘13 FY‘12 FY‘13 *before special items Page 20 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers 1 Prior-year figures restated.
  21. 21. FY 2013 – MaterialScience In € million, ∆% yoy, () = Fx & portf. adjusted 2013 Sales Polycarbonates -6% (-5%) Earnings1 Polyurethanes +1% (+4%) 2,640 6,054 Adj. EBITDA* Adj. EBIT* 1,263 1,072 -15% CAS** -6% (-2%) IO*** -4% (-4%) 1,863 613 681 429 -30% MaterialScience €11,238m; -2% (0%) Price 0% Volume +1% Fx -2% Page 21 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers Portfolio 0% *before special items FY‘12 FY‘13 **CAS: Coatings, Adhesives, Specialties FY‘12 FY‘13 *** IO: Industrial Operations 1 Prior-year figures restated.
  22. 22. FY 2013 – Cash Flow And Net Debt Development Cash Flow in € million, Net Debt in € billion FY 2013 Cash Flow GCF NCF Net Debt Development Investments oFCF 5,832 ∆ y-o-y 5,171 2,157 +14% +12% -€0.3bn 6.7 3,014 +28% 7.0 +16% Page 22 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers Dec 31, 2012 Dec 31, 2013
  23. 23. FY 2013 – Regional Performance In € million, ∆% yoy Fx adjusted 2013 Group Sales by Region USA +4% Emerging Economies¹ +7% 21% Emerging Economies +4% ~5,800 +15% ~5,100 38% +7% ~2,500 31% Western Europe +2% -1% ~1,700 10% Others² +10% Group €40,157m; +5% Page 23 • Q4/FY 2013 Investor Conference Call • Marijn Dekkers Emerging Asia³ Latin America Eastern Europe Africa & Middle East ¹ Emerging economies include: Latin America, Asia w/o Japan, Australia, New Zealand, Africa and Middle East incl. Turkey, Eastern Europe ² Others = Japan, Australia, New Zealand, Canada ³ Emerging Asia = Asia w/o Japan, Australia, New Zealand

×