q3 2015 investor conference call presentation
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Investor Conference CallQ3 2015 Results
October 29, 2015 / Marijn Dekkers, CEO
• Q3 2015 Investor Conference Call • Marijn Dekkers Page 1
DisclaimerThis presentation may contain forward-looking statements based on currentassumptions and forecasts made by Bayer Group or subgroup management.
Various known and unknown risks, uncertainties and other factors could lead tomaterial 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 areavailable on the Bayer website at www.bayer.com.
The company assumes no liability whatsoever to update these forward-lookingstatements or to conform them to future events or developments.
• Q3 2015 Investor Conference Call • Marijn Dekkers Page 2
Page 3
Q3 2015 –Operational and Strategic Progress
Successful Covestro debut on the Frankfurt Stock exchange*
Further organic growth and significantly improved earnings
Built further growth momentum at Pharma
Solid performance of Consumer Health
CropScience with higher sales and earnings in challenging environment
Full-year 2015 Group guidance reiterated
• Q3 2015 Investor Conference Call • Marijn Dekkers * Bayer retains 69%
Page 4
EBITin € million
+16%
1,565
1,346
Salesin € million% currency & portfolio adj.
+2%
11,036
9,967
EBITDAbefore special itemsin € million
+28%
2,523
1,977
Core EPSin €
+28%
1,69
1,32
Q3’15Q3’14 Q3’15Q3’14 Q3’15Q3’14 Q3’15Q3’14
Q3 2015 –Bayer Significantly Improves Earnings
• Q3 2015 Investor Conference Call • Marijn Dekkers Continuing operations
Q3 2015 –Cash Flow And Net Debt Development
Page 5
-1.9bn
19.3GCF oFCF
1,427
CapEx
654 1,652
∆y-o-y -3% +34%
NCF
2,306
+29% -20%June 30, 2015 Sept. 30, 2015
21.1
• Q3 2015 Investor Conference Call • Marijn Dekkers
Cash Flow in € million, ∆% yoy Fx adj.
Net Debtin € billion
Continuing operations
Q3 2015 – HealthCare: All Businesses With Higher Sales
Page 6
Pharma+15% (+12%)
ConsumerHealth+28% (+2%)
36%
HealthCare €5,651m; +19% (+8%)
3,4822,169
Price+1%
Volume+8%
Fx+3%
Portfolio+8%
1139
408
+19%
+32%
1,677
1,368
+23%
309 +29%
1,008
1,265 +25%
699
399
EBITDA EBIT
866 +24%
• Q3 2015 Investor Conference Call • Marijn Dekkers
Sales Earnings
Q3‘14 Q3‘15 Q3‘14 Q3‘15
960
538
in € million; ∆% yoy, () = Fx & portfolio adj. before special items, in € million; ∆% yoy
Q3 2015 – Pharma:Launch Products Drove Growth
Page 7 • Q3 2015 Investor Conference Call • Marijn Dekkers
Launch products
Pharmaceuticals €3,482m; +15% (+12%)
1,082
Q3‘14 Q3‘15 Q3‘14 Q3‘15
960
1,139 +19%
699
866 +24%
Salesin € million; ∆% yoy, () = Fx & portfolio adj.
Earningsbefore special items, in € million; ∆% yoy
+42%
EBITDA EBIT
Q3 2015 – Consumer Health:Solid Growth in All Businesses
Page 8 • Q3 2015 Investor Conference Call • Marijn Dekkers
Medical Care+6% (+4%)
ConsumerCare
+42% (+2%)
Consumer Health €2,169m; +28% (+2%)
388
1,424
Q3‘14 Q3‘15 Q3‘14 Q3‘15
408
538 +32%
309
+29%399
Animal Health+8 (+2%)
357
Salesin € million; ∆% yoy, () = Fx & portfolio adj.
Earningsbefore special items, in € million; ∆% yoy
EBITDA EBIT
Q3 2015 – CropScience: Resilient in Challenging Market Environment
Page 9
Crop Protection+11% (+3%)
Environmental Science+5% (-7%)
Seeds-5% (-5%)
CropScience €2,113m; +10% (+2%)
Price-3%
Volume+4%
Fx+7%
Portfolio+1%
1,833
Q3‘14 Q3‘15 Q3‘14 Q3‘15
278309 +11%
157
184 +17%
156124
• Q3 2015 Investor Conference Call • Marijn Dekkers
Salesin € million, ∆% yoy, () = Fx & portf. adj.
EBITDA EBIT
Earningsbefore special items, in € million; ∆% yoy
Covestro Makes Its Successful Debut
• Q3 2015 Investor Conference Call • Marijn Dekkers Page 10
Ticker: 1COV
Full Year 2015 –Group Guidance Reiterated
Page 11
2014restated
2015Update September
Fx effect
Sales €41.3bnLow-single-digit %
increase~ €46
~ +6%
EBITDAbefore special items
€8.7bn High-teens % increase ~ +4%
core EPS €5.89 High-teens % increase ~ +4%
Sales ∆% Fx and portfolio adjusted, continuing operations
Assuming end Q3’15 Fx ratesOutlook depends on specific planning assumptions as detailed in the Annual Report• Q3 2015 Investor Conference Call • Marijn Dekkers
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