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Bayer Q2 2009 Results

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    Bayer Q2 2009 Results Bayer Q2 2009 Results Document Transcript

    • Science For A Better Life Investor Conference Call Q2 2009 Results Werner Wenning, CEO July 29 2009 Q2 2009 Investor Conference Call • Werner Wenning 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. Q2 2009 Investor Conference Call • Werner Wenning • Page 2
    • Q2 2009 – Robust in a challenging environment HealthCare strong, CropScience at last year’s level, MaterialScience stabilizing Restructuring at MaterialScience including first permanent plant closures accelerated Further strategic progress to strengthen Chinese pharma business and CropScience seeds and traits business Reaffirm financial outlook of limiting decline in underlying EBITDA to approx. -5% Q2 2009 Investor Conference Call • Werner Wenning • Page 3 Q2 2009 – Robust in a Difficult Environment Key Figures Underlying EBITDA by Subgroup In € million, Δ% y-o-y MaterialScience Sales EBITDA* EBIT* Core EPS 7% 8,009 1,765 1,101 €1.05 CropScience Δ% - 6% - 7% ² - 12% -11% 28% 63% Δ% 2% Adj. ** - 9% Reconciliation HealthCare * Before special items ** Currency & portfolio adjusted Q2 2009 Investor Conference Call • Werner Wenning • Page 4
    • HealthCare – Business Momentum Gained Q2´09 Sales Earnings In € million, Δ% y-o-y Underlying Underlying EBITDA EBIT Consumer Health Pharma 1,112 +12% +7% (+2%) +9% (+6%) 994 758 +19% 1,411 707 812 +15% 639 2,634 406 523 +29% 287 300 +5% 233 235 +1% HealthCare € 4,045m; +8% (+5%) Q2´08 Q2´09 Q2´08 Q2´09 ( ) Currency & portfolio adjusted Q2 2009 Investor Conference Call • Werner Wenning • Page 5 CropScience – Price Driven Growth Q2´09 Sales Earnings In € million, Δ% y-o-y Underlying Underlying Bio Science EBITDA EBIT +24% (+17%) 501 497 -1% Environmental Crop Protection Science 140 +1% (+1%) 375 374 0% +4% (+1%) 172 435 423 -3% 329 315 -4% 1,540 66 74 +12% 46 59 +28% CropScience € 1,852m; +3% (+2%) Q2´08 Q2´09 Q2´08 Q2´09 ( ) Currency & portfolio adjusted Q2 2009 Investor Conference Call • Werner Wenning • Page 6
    • MaterialScience – Business Clearly Stabilized During Q2 Q2´09 Sales Earnings In € million, Δ% y-o-y Underlying Underlying Industrial Operations EBITDA EBIT -18% (-21%) Polyurethanes 125 -34% (-39%) CAS* 372 -25% (-29%) 253 337 121 -67% (y-o-y) 918 -22 • -116 -263 Poly- 450 carbonates -28% (-32%) MaterialScience € 1,830m; -30% (-34%) Q2´08 Q1´09 Q2´09 Q2´08 Q1´09 Q2´09 * Coatings, Adhesives and Specialties ( ) Currency & portfolio adjusted Q2 2009 Investor Conference Call • Werner Wenning • Page 7 Cash Flow and Net Debt Development Q2´09 Cash Flow Net Debt Development In € million In € billion GCF NCF Invest- oFCF -2.3 cont. ments 1, 248 1,399 370 1,029 14.0 11.7 Δ% y-o-y -6% +57% +7% +90% Q1´09 Q2´09 Q2 2009 Investor Conference Call • Werner Wenning • Page 8
    • 2009 Financial Outlook Group Subgroups Reaffirm ambitious target of limiting the decline HealthCare - confirmed in Group underlying EBITDA to approx. -5% Sales growth above market and improvement of underlying EBITDA margin towards 28% CapEx approx. €1.4bn CropScience - confirmed Continued growth, underlying EBITDA R&D spending about €2.9bn margin in the range of 25% Net debt reduction towards €10bn MaterialScience - updated (before portfolio changes) Q3: Positive underlying EBITDA Q2 2009 Investor Conference Call • Werner Wenning • Page 9 Science For A Better Life Q2 2009 Investor Conference Call • Werner Wenning