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KWS's Investor Presentation May 2012
 

KWS's Investor Presentation May 2012

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In this presentation you will gain an overview of the development of the KWS Group and its strategy for further growth.

In this presentation you will gain an overview of the development of the KWS Group and its strategy for further growth.

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    KWS's Investor Presentation May 2012 KWS's Investor Presentation May 2012 Presentation Transcript

    • Investor PresentationKWS SAAT AGMay 2012
    • Fundamentals of agronomical seed business Farmland per capita (in ha) 0.5 0.3 0.2 1950 2000 2050(e) Source: UNO, 2007 Crop losses (due to vermin & diseases) Research & Development 10% Vermin After harvesting 10% 13% Fungal infections 14% Before harvesting 42% 1-2% average increase in yield Weeds 15% Insects Source: DBV Climate change °C2 May 24, 2012 Investor Presentation
    • Global importance of agricultural crops 226 Acreage 2009 in mn ha 158 159 not part of the KWS product portfolio 100 54 40 31 24 19 7 4 um y s d ts at ne n ce e es an rle Ry e r ee he Co Ri to se ca gh e Ba rb ta W yb pe r r ga Po ga So So Ra Su Su 819 World production 2009 687 685 in mn t 330 223 152 133 56 62 18 34 um n y d s e es ce * * at an Ry rle r e ar ar he Co Ri to se gh e Ba g g ta W yb pe su su r Po So So Ra et ne Be Ca Source: faostat.fao.org, Oct 2011 * raw sugar, Source: WVZ3 May 24, 2012 Investor Presentation
    • Development of the KWS Group 2010/114 May 24, 2012 Investor Presentation
    • TOP 5 global agricultural seed companies Sales of agricultural crops Sales in € bn 1,37 USD/EUR 1) Monsanto 5.6 2) DuPont / Pioneer 4.0 3) Syngenta 1.3 4) 1) Sales 2010/11, „Seeds&Genomics“ w/o vegetables. FY: Septermber 1, to August 31 0.9 2) „Seeds“ sales A&N segment 2010. FY: January 1, to December 31 3) Sales 2010 w/o flowers & vegetables. FY: January 1, to December 31 5) 4) Sales 2010/11; Vilmorin 0.6 FY: July 1, to June 30 5) „Field seeds“ sales 2010/11; FY: July 1, to June 305 May 24, 2012 Investor Presentation
    • KWS at a glance Business development In € mn 2010/11 2011/12 (e) Sales 855 ~ 980 EBIT 117 ~ 140 R&D-expenses 114 ~ 122 Employees 3,560 ~ 3,850 The KWS group includes 61 companies6 May 24, 2012 Investor Presentation
    • Track record 2007/08 – 2011/12 (e) Sales in € mn EBIT in € mn 140 1000 120 800 100 600 80 60 400 40 200 20 0 0 2011/12 (e) 2011/12 (e) 2007/08 2008/09 2009/10 2010/11 2007/08 2008/09 2009/10 2010/11 CAGR (e): +13.1 % CAGR (e): +18.9 % Sales 2011/12 (e): EBIT 2011/12 (e): ~ €980 mn ~ €140 mn7 May 24, 2012 Investor Presentation
    • Total sales by region and business segment 2010/11 Breeding & Others Services 5% Cereals 1% 9% Germany 25% By Region By business segments Corn 56% Europe North America (w/o Germany) Sugarbeets* 30% 40% 34% * Includes for the first time potatoes sales8 May 24, 2012 Investor Presentation
    • Sales and EBIT-margin of the KWS´ business segments 2007/08 – 2011/12 (e) Corn Segment Sugarbeet Segment Cereals Segment in € mn in € mn in € mn 570 40% 40% 40% 471 35% 35% 35% 413 382 30% 30% 30% 329 305 25% 294 25% 25% 21% 247 24% 19% 20% 228 20% 20% 195 14% 14% 14% 15% 13% 13% 13% 15% 15% 15% 10% 8% 14% 7% 7% 10% 10% 10% 95 84 77 67 70 5% 5% 5% 0% 0% 0% 2007/08 2008/09 2009/10 2010/11 2011/12 (e) 2007/08 2008/09 2009/10 2010/11* 2011/12 (e)* 2007/08 2008/09 2009/10 2010/11 2011/12 (e) Net sales EBIT-margin Net sales EBIT-margin Net sales EBIT-margin * Incl. potato sales9 May 24, 2012 Investor Presentation
    • KWS: Global breeding in the temperate climate zone Breeding and distribution in over 70 countries10 May 24, 2012 Investor Presentation
    • Research and development at KWS – highly innovative & tailor-made • Approx 1,200 employees have R&D duties • 296 new varieties commercially registered in 2010/11 R&D expenses in recent years (in € mn) 150 120 90 60 30 0 2007/08 2008/09 2009/10 2010/11 2011/12 (e) Continually increasing R&D Budget11 May 24, 2012 Investor Presentation
    • Successful breeding: 150 years 14t/ha sugar yield 14 t/ha 10 t/ha 5 t/haSugar 3 t/ha 1 t/hayield 1850 1900 1950 2000 2011 Breeding target by 2020: t/ha sugar12 May 24, 2012 Investor Presentation
    • Sugarbeet Segment 2010/11 (e)13 May 24, 2012 Investor Presentation
    • Sugarbeet Segment Sales Breakdown by Sugarbeets and Potatoes 2011/12 (e) Potatoes 12% Segment sales Sugarbeets 88% ~ €305 mn14 May 24, 2012 Investor Presentation
    • Sugarbeets EU-27 Net sales development and market share Net sales in €mn* Market share* 300 2007/08 – 2011/12 (e) 2010/11 Others 250 3% KWS 40% 200 .3 % (e) CAGR: 3 Syngenta 150 132 123 (e) 18% 108 112 113 EU-27 Acreage 1.6 mn ha 100 50 0 2007/08 2008/09 2009/10 2010/11 2011/12 Desprez 39% * Sugarbeet seeds w/o potatoes15 May 24, 2012 Investor Presentation
    • Global sugarbeet business Net sales and market share Net sales in €mn* Market share* 2007/08 – 2011/12 (e) 2010/11 e) % ( 267 300 Others R: 8.5 270 (e) 8% KWS CAG 247 34% 250 228 195 200 Syngenta 150 20% Global Areage 4.8 mn ha 100 50 0 Desprez 2007/08 2008/09 2009/10 2010/11 2011/12 38% * Sugarbeet seeds w/o potatoes16 May 24, 2012 Investor Presentation
    • Corn Segment 2010/11 (e)17 May 24, 2012 Investor Presentation
    • Increase of corn acreage in almost every KWS region 37,4 37.4 1 Market volume 2010/11 in mn ha 30,0 30.0 EU 27: 12.6 mn ha (+8%) USA: 37.4 mn ha (+5%) 6,3 6.3 3,8 3.8 4,5 4.5 2,5 2.5 3,0 3.0 0,8 0.8 1,3 1.3 1,7 1.7 a ro rn pe ro rn pe pe a ic y a ce Eu aste in an in er ro pe pe Eu ste ro ro an nt Ch Am Eu rm Eu Eu Ea ge Fr E Ge h h rn Ar na e rth ut ut dl he So id t i n i So No Chi rt M p No i e ri NE: DK, UK, NL, BE SEE: HU, BG, AT, RO NA: US uro uro uro k re uro h la ro 1 Kleffmann, KWS, USDA ME: PL, CZ, SK SE: IT, ES, PT EE: RU, UA18 May 24, 2012 Investor Presentation
    • Corn EU 27 Net sales development and market share Net sales €mn Market share 2007/08 – 2011/12 (e) 2011 3 % 10. Others KWS 300 280 (e) R: 25% 18% C AG 257 250 229 212 200 189 150 EU-27 Acreage 12.6 mn ha 100 Syngenta 7% Pioneer 50 24% Vilmorin 13% 0 Monsanto 2007/08 2008/09 2009/10 2010/11 2011/12 13% * Kleffmann, 201119 May 24, 2012 Investor Presentation
    • Corn North America Net sales development and market share AgReliant´ 1) net sales Market share 2) 2007/08 – 2011/12 (e) 2010/11 in €mn Others AgReliant 3 % : 18. 460 (e) 18% 7% GR Dow 400 CA 358 350 4% 318 300 285 250 235 Syngenta 200 7% North America Acreage 37.4 mn ha 150 100 Pioneer 32% 50 0 2007/08 2008/09 2009/10 2010/11 2011/12 Monsanto 32% 1) 2) 50-50 JV with Vilmorin, France Estimated data. KWS, 2011.20 May 24, 2012 Investor Presentation
    • Cereals Segment 2011/12 (e)21 May 24, 2012 Investor Presentation
    • Cereals - Net sales development and breakdown by products 2011/12 (e) Net sales Net sales breakdown by in € mn product group Others 8% 40% 35% 30% Rapeseed 8% 25% Rye 21% 50 % 18% 20% Barley 14% 15% 13% 15% 12% 95 84 77 67 70 10% 5% 0% 2007/08 2008/09 2009/10 2010/11 2011/12 (e) Wheat Net sales EBIT-margin 22% Rye Wheat Barely Rapeseed22 May 24, 2012 Investor Presentation
    • Outlook 2011/12 (e) Business Segments Outlook FY 2011/12 2010/11 Corn Net sales ~ €570 mn €471 mn EBIT-Margin ca. 13 % 13 % Sugarbeet1) Net sales ~ €305 mn €294 mn EBIT-Margin ca. 24 % 14 % Cereals Net sales ~ €95 mn €77 mn EBIT-Margin ca. 21 % 19 % n.a. KWS Group Corporate Revenues ~ €10 mn Corporate Functional Costs2) ~ €30 mn Total net sales ~ €980 mn €855.4 mn EBIT-Margin ≥ 14 % 13.6 % 1) incl. Potatoes 2) First time disclosed in FY 2011/2012 Cross-segment administrative costs and other costs for long-term research projects will be grouped together as Corporate Functional Costs.23 May 24, 2012 Investor Presentation
    • KWS: Strategy for further growth Strategic perspectives China Sunflowers Traits Growth Winter Rapeseed (EU) drivers Eastern Europe Potatoes Corn Dent x Dent (late maturing varieties for temperate Energy crops regions, high yield potential) Maintenance EU Sugarbeets of market leadership Corn Dent x Flint Cereals (early maturing varieties)24 May 24, 2012 Investor Presentation
    • KWS Energy Crops 2010/1125 May 24, 2012 Investor Presentation
    • KWS Energy Crops Corn Sugarbeets Rapeseed Rye Sunflowers Sorghum Bioethanol • Biogas • Biodiesel About 17% of KWS´total sales are from energy crops26 May 24, 2012 Investor Presentation
    • Estimated breakdown of total energy sales by energy crop 2010/11 Sugarbeets €20 mn €20 mn Corn €60 mn Ethanol & Biogas €45 mn €45 mn €40 mn Rapeseed €10 mn €10 mn 2010/11 2009/10 2009/10 2008/09 Biodiesel Cereals, Sunflowers, Sorghum €10 mn €10 mn Ethanol Biogas Biogas, Ethanol & Biodiesel Total sales of energy crops in fiscal year 2010/11(e): €145 mn27 May 24, 2012 Investor Presentation
    • KWS in China28 May 24, 2012 Investor Presentation
    • KWS in China: More than 30 years of market experience Sugar consumption per capita in kg China Europe 39 38 Others Rapeseed 4% 3% 10 11 Cotton 2008 2011 8% Source: WVZ, Oct 2010 Corn 33 % Rice Meat consumption per capita in kg 21 % China Europe 77 74 Temperate zone Vegetables Subtropical zone 31 % 52 30 More than 80% of the total Chinese corn acreage is in the temperate climate zone 1992 2002 Source: EarthTrends, Oct. 201129 May 24, 2012 Investor Presentation
    • 30 May 24, 2012 Investor Presentation
    • KWS´ share facts 13.8 % Key figures per May 22, 2012 (Xetra) Tessner 56.1 % Beteiligungs GmbH WKN: 707400 Families Büchting / ISIN: DE0007074007 Arend Oetker / Giesecke Symbol: KWS No. Of shares: 6,600,000 30.1 % Closing call: €182.05 Shareholder Free float structure Market Cap.: €1.2 bn Free Float Market Cap.: €362 mn 52 weeks high/low: €201.50 /€131.4031 May 24, 2012 Investor Presentation
    • Financial calender May 24, 2012 3rd Quarter Report 2011/2012 Full year results 2011/2012; October 18, 2012 Annual press conference in Frankfurt; Analyst conference in Frankfurt November 29, 2012 1st Quarter Report 2012/2013 December 13, 2012 Annual Shareholders´ Meeting in Einbeck32 May 24, 2012 Investor Presentation
    • The Executive Board Philip von dem Bussche (1950) • CEO / Member of the Executive Board since 2005 • Responsibility: Corporate Affairs, Sugarbeet, Human Resources • Prev. President of the German Agricultural Association (DLG), farmer • Degree in Business Administration Dr. Christoph Amberger (1957) • Member of the Executive Board since 2001 • Responsibility: Corn, Cereals, Marketing • Prior working experience: Bayer AG and Bayer Italia S.p.A. • Degree in Agro Sciences Major Business Admin. Doctorate Dr. sc. agr. Dr. Léon Broers (1960) • Member of the Executive Board since 2007 • Responsibility: Research & Breeding, Energy plants • Prior working experience: Nunhems / Bayer CropScience • Degree in Agro Sciences Major Business Admin. Doctorate Dr. sc. agr. Dr. Hagen Duenbostel (1970) • Member of the Executive Board since 2003 • Responsibility: Finance, Controlling, IT, Legal, IR • Prior working experience: PwC • Degree in Business Administration. Doctorate Dr. rer. pol.33 May 24, 2012 Investor Presentation
    • Disclaimer These materials are not an offer for sale of Subscription rights or Securities in the United States. Subscription rights and Securities may not be offered or sold in the United States without registration or an exemption from registration under the U.S Securities Act of 1993, as amended. KWS SAAT AG does not intend to register any portion of the offering in the United States or to conduct a public offering in the United States or to conduct a public offering of Subscription rights or Securities in the United States. Forward looking statements This document contains certain forward-looking statements relating to the business, financial performance and results of KWS SAAT AG and/or its subsidiaries and/or the industry in which KWS SAAT AG and its subsidiaries operate. These forward-looking statements are based on KWS’ current plans, estimates, projections and expectations. These statements are based on certain assumptions that, although reasonable at this time, may prove to be erroneous. Prospective investors should not place undue reliance on these forward-looking statements. If certain risks and uncertainties materialize, or if certain underlying assumptions prove incorrect, events described in this document as anticipated, believed, estimated or expected may not occur, and KWS SAAT AG may not be able to achieve its financial targets and strategic objectives. This presentation should not be viewed as definitive legal, tax, or other advice regarding investment. All interested investors should seek independent third party legal, tax, and other advice. KWS SAAT AG does not intend, and does not assume any obligations, to update industry information or forward-looking statements set forth in this document. KWS SAAT AG assumes no responsibility or liability in regard to the completeness of the contents and the accuracy of opinions, estimates, prognoses, calculations, or other information contained in this presentation. This presentation may contain confidential information. Neither the presentation nor any of its contents may be reproduced or otherwise made available to third parties.34 May 24, 2012 Investor Presentation
    • IR contact persons Georg Folttmann Wolf-Gebhard von der Wense Head of Investor Relations Investor Relations +49 5561 311-640 +49 5561 311-968 g.folttmann@kws.com w.vonderwense@kws.com KWS SAAT AG KWS SAAT AG Grimsehlstr. 31 Grimsehlstr. 31 D-37555 Einbeck D-37555 Einbeck35 May 24, 2012 Investor Presentation