BAYWA AG Investor RelationsNewsletter
Fiscal Year 2020
Successful financial year 2020: crisis-resilient through the pandemic
The BayWa Group developed positively overall in 2020, despite the restrictions in many aspects of life and business as a result of the coronavirus pandemic. In certain business units, the corporate goals for the reporting year were exceed-ed by a substantial margin. The Energy and Building Materials Segments gener-ated record-breaking figures. In the domestic agricultural business, however, the economic situation remains unsatis-factory. Given the great importance of these business activities for the BayWa Group, the measures aimed at increasing profitability will be continued at an accelerated pace.
Total revenues at the BayWa Group increased by 0.6% to €17,155.4 million in the reporting year. EBIT improved by 14.2% to €215.2 million. All operating segments contributed to the rise in earnings. Earnings before tax also saw a significant increase to €111.2 million - a rise of 40.4% year on year. Due solely to disproportionately high tax expenses of €49.9 million, the consolidated net resultfor the year was on a par with the previ-ous year at €61.3 million. The Board of Management and Supervisory Board will recommend to the Annual General Meet-ing a 5-cent increase in the dividend to €1.00 per share.
One major step forward with the future in mind was opening up BayWa r.e. renewa-ble energy GmbH for an external investor in 2020. The additional €530 million in equity enables BayWa r.e. to do an even better job of seizing opportunities around the world for the further expansion of renewable energies - for the benefit of BayWa and its shareholders, and in the interest of global climate protection.
"We achieved historic results in 2020, setting new benchmarks across the board," says Chief Executive Officer Prof. Klaus Josef Lutz. "We reached a groundbreaking deal in the Renewable Energies business unit and generated extremely positive results in challenging conditions."
Highlights
• Strong crisis management and systemic relevance
• EBIT improvement across all three operating seg-ments
- Energy (+12.0%)
- Agriculture (+10.9%)
- Building Materials
(+46.1%)
• Highest EBIT contribution BayWa r.e. (€ 111 Mio.)
• BayWa r.e. closing - largest transaction in the company's history
• Positive performance of the BayWa share (+17%)
• Dividend proposal: €1.00 per share
Key Financials of the BayWa Group
Income Statement
in EUR million | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | FY 2020 | FY 2019 | Change |
Revenues | 3,870.1 | 4,323.6 | 4,004.1 | 4,957.6 | 17,155.4 | 17,059.0 | 0.6 % |
EBITDA | 25.1 | 135.3 | 104.4 | 203.6 | 468.4 | 403.0 | 16.2 % |
EBIT | −27.8 | 81.6 | 48.9 | 112.5 | 215.2 | 188.4 | 14.2 % |
EBT | −52.5 | 53.1 | 25.2 | 85.4 | 111.2 | 79.2 | 40.4 % |
Consolidated net result 1 | −39.5 | 39.9 | 17.9 | 43.0 | 61.3 | 65.1 | −5.8 % |
EBIT per Segment | |||||||
in EUR million | Q1 2020 | Q2 2020 | Q3 2020 | Q4 2020 | FY 2020 | FY 2019 | Change |
Energy | −4.0 | 20.7 | 31.3 | 94.7 | 142.7 | 127.4 | 12.0 % |
Renewable Energies | −8.9 | 7.6 | 23.3 | 88.9 | 110.9 | 101.0 | 9.8 % |
Conventional Energy | 4.9 | 13.1 | 8.0 | 5.8 | 31.8 | 26.4 | 20.5 % |
Agriculture | 9.9 | 51.7 | 15.9 | 29.6 | 107.1 | 96.6 | 10.9 % |
BAST2 | 3.7 | 4.9 | 8.0 | 8.6 | 25.2 | 19.1 | 31.9 % |
Global Produce | 1.1 | 17.1 | 12.0 | 11.6 | 41.8 | 36.9 | 13.3 % |
Agri Trade & Service | 3.1 | 15.8 | −12.2 | −21.0 | −14.3 | 7.8 | >−100 % |
Agricultural Equipment | 2.0 | 13.9 | 8.1 | 30.4 | 54.4 | 32.8 | 65.9 % |
Building Materials | −12.0 | 29.2 | 22.0 | 7.7 | 46.9 | 32.1 | 46.1 % |
Innovation & Digitalisation | −3.5 | −3.3 | −1.6 | −2.5 | −10.9 | −14.6 | 25.3 % |
Other Activities | −18.2 | −16.7 | −18.7 | −17.0 | −70.6 | −53.1 | −33.0 % |
Total | −27.8 | 81.6 | 48.9 | 112.5 | 215.2 | 188.4 | 14.2 % |
Earnings per share (EPS) | |||||||
in EUR |
Share of revenues | Share of EBIT (operational) - |
per segment | per segment |
in % as at 31/12/2020 | in % as at 31/12/2020 |
1 Adjustment of the year-earlier figures due to an error correction pursuant to IAS 8.42.
2 Cefetra Group effective 01/01/2021
3 Earnings per share excluding hybrid dividend
Capital Market
Capital markets 2020 - Review:
The stock market year in 2020 was one of extremes. In Feb-ruary, the DAX rose to an all-time high before embarking on an historic slump in March, when coronavirus began to affect the markets. Yet the DAX still recovered extremely quickly and surpassed the February all-time high at the end of the year in spite of the pandemic. At year-end, the DAX was up by approximately 3.5% year on year. The smaller German stock market indices performed even better. The MDAX was up roughly 9% and the SDAX by as much as 18% over the year as a whole.
Technology equities benefited from the turbulent stock mar-ket year. Changes to consumer behaviour on account of the pandemic benefited online retailers and delivery services, while the travel industry suffered significant losses.
The IPO market appeared unfazed by the pandemic. Global issue volume climbed by 26% to USD263 billion, the highest figure recorded since 2010. In Germany, however, the IPO market performed poorly. A total of 12 German companies risked a stock market flotation using a variety of means. (Source: EY IPO Report Q4 2020)
The number of equity investors in Germany increased to its highest level in 20 years in spite of the coronavirus pandemic and the Wirecard scandal. According to a survey conducted by the Deutsches Aktieninstitut (German equities institute - DAI), the number of German citizens who invested in equities or equity funds rose to 12.4 million in the past year, an in-crease of 2.7 million compared to 2019. (Source: Deutsches Aktieninstitut)
BayWa Share 2020/21: Price performance compared with the SDAX and DAXCurrent analyst recommendations
BayWa Share
BayWa
29.0%
SDAX
22.2%
DAX
10.4%
36.45 €
Closing Price on 19/03/2021
15,295.30* Closing Price on 19/03/21
14,621.00* Closing Price on 19/03/2021
* Points
Pareto Securities
Kepler Cheuvreux
Warburg Research
DZ Bank
Buy
Buy
Buy
HoldMarch 2021
March 2021
March 2021
March 2021
Closing Price on 19/03/2021
Closing Price on 31/12/2020
52W High
52W Low
36.45 €33.05 €33.25 €21.70 €
Financial Calender 2021
BayWa AG Investor Relations Arabellastraße 4 D-81925 München
26 March 2021
BayWa, Munich
T +49 (0) 89 9222-0
6 May 2021
BayWa, Munich
F +49 (0) 89 9212-3448
11 May 2021
5 August 2021
BayWa, Munich
11 November 2021
BayWa, Munich
BayWa Group on the internet:www.baywa.com/ investor_relations
Analysts' Conference, Full-year 2020 | 11.00 am |
Analysts' Conference Call on the First Quarter | 8.30 am |
Virtual AnnualGeneralMeeting | 10.00 am |
Analysts' Conference Call on the Second Quarter | 8.30 am |
Analysts' Conference Call on the Third Quarter | 8.30 am |
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Disclaimer
BayWa AG published this content on 24 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 25 March 2021 06:34:01 UTC.
