BAYER AG ///////////// Health for all, Hunger for none
Debt Investor Information
S t a t u s : F Y 2 0 2 3 / Q 1 2 0 2 4
A s o f 1 4 t h M a y 2 0 2 4
Cautionary Statements Regarding Forward-Looking Information
This presentation may contain forward-looking statements based on current assumptions and forecasts made by Bayer 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
h t t p : / / w w w. b a y e r . c o m/
The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
2 | /// Bayer Debt Investor Relations /// Status: FY 2023/Q1 2024 |
Bayer: A Global Leader in Health & Nutrition
Net Sales as rep
2023
13%
47.6bn€ 49%
38%
Crop Science
-
#1 in Seed & Traits with
Leading Crop Protection Portfolio - >200 bn€ exp. Global Ag Input Market & Related Adjacencies by 2030
Pharmaceuticals
- Strong market positions in key therapeutic areasg / resilient base
- Rebuilding R&D with technology platforms and improved productivity
Consumer Health
- Iconic brands with leading market positions
- 3-5%CAGR CH Global Market1
Well Positioned
in Growing Markets
to address
Major Societal Needs
and Ecological Challenges
with the
Power of Innovation.
//////////// Health for All, Hunger for None.
1 Outlook, internal market model in-market sales OTC medicines, data from IQVIA, Nicholas Hall
3 | /// Bayer Debt Investor Relations /// Status: FY 2023/Q1 2024 |
With Our Business We can Make Unique and Relevant Contributions
OUR MISSION and VISIONSOUR SYSTEMIC RELEVANCE
//////////// | 55 |
Produce 50% More.
Restore Nature.
Scale Regenerative Ag.
Climate Action
Our impact on the 55GT of CO2 in our value chain
Treat the Untreatable. | 4 | 1 | ||
Cure Disease. | ||||
Offer Hope. | ||||
Help over 1bn People to | Health Equity | Food Security | ||
Our impact on 4b people | Our impact on 1bn | |||
Live Healthier Lives with most | health care | people | ||
with no access to basic | chronically hungry |
Trusted Self-Care Solutions.
4 | /// Bayer Debt Investor Relations /// Status: FY 2023/Q1 2024 |
Sustainability is and will be an Important Value Driver for Bayer
Sustainability-related value creation along access, adaptation, and mitigation
CROP | PHARMA | CONSUMER |
SCIENCE | HEALTH | |
Regenerative Ag & | Access and Social | Access, Climate |
Smallholder Access | Business Model | & Health |
Solutions with improved sustainability profiles
Examples1: Cover Cress, Direct
Seeded Rice, Short Stature
Corn, Hybrid Wheat, Biofuels,
Biologics & Crop Nutrition…
Innovation & focus on breakthrough technologies (e.g. CGT)
Global Health Unit
Pricing Strategy
Climate Resilience in Product Supply
Neglected tropical diseases (NTDs)
Access to high-quality nutrition
Access to self-care in low-income countries
Addressing climate impact on health (supporting upper respiratory, cardio)
Reduced Ecological Footprint
Inclusive Growth | Responsibility Along the Value Chain |
5 | /// Bayer Debt Investor Relations /// Status: FY 2023/Q1 2024 |
We have Ambitious Measurable Targets for Sustainable Development
Our 2030 Targets positively contribute to today's pressing challenges
Detailed descriptions can be found here:https://www.bayer.com/en/sustainability/targets
Help more PEOPLE thrive | Decrease ECOLOGICAL footprint |
Support 100m smallholder farmers in LMICs1
Fulfill the need of 100m women
in LMICs1 for modern contraception
Support 100m people in underserved2 communities with self care
Achieve gender balance at all managerial levels
PH: Increase availability and affordability of our innovative pharma products in LMICs1
Climate
Action
Health Food
Equity Security
42% reduction target3 for Scope 1 & 2
12.3% reduction target3,4 for relevant Scope 3 categories
Net Zero emission target by 2050 or earlier (Scope 1, 2 & 3)5 incl. our entire value chain
Water strategy addressing our own operations and up-/downstream activities
CS: -30%on-field greenhouse gas emissions in key agricultural crops in main regions; -30% environmental impact of our crop protection products
CH: Transition all Consumer Health products to 100% recycle-readypackaging
1 | LMIC: low and middle income countries - all countries included in the World Bank list as per 1 July 2019 | |
2 | Underserved: economically or medically | |
6 | /// Bayer Debt Investor Relations /// Status: FY 2023/Q1 2024 |
- By 2029 fromResponsibilitya 2019 base year Along the Value Chain
- An increased reduction target of 25% is currently being reviewed by SBTi.
- The target has been submitted to the SBTi and is currently being evaluated.
FY 2023: Achieved Revised Outlook
in €bn
Net Sales
EBITDA
(before special items)
Core EPS (in €)
Free Cash Flow1
Net Fin. Debt
FY 2023 Outlook | FY 2023 Actuals | |
incl. FX impact | as reported | |
46.8 | - 47.8 | 47.6 |
11.1 | - 11.6 | 11.7 |
6.20 | - 6.40 | 6.39 |
~ 0 | 1.3 | |
~ 36 | 34.5 |
1Litigation related net payouts (settlements, judgements, reimbursements from insurances) amounting to -2.1 bn€. | |
7 | /// Bayer Debt Investor Relations /// Status: FY 2023/Q1 2024 |
Bayer Key Financials
2023 EBITDA before Special Items in €bn | Capital Expenditures 2023 in €bn | Research & Development Expenses 2023 in €bn |
5,0 | 5,2 | |
1,4 | ||
Crop Science | Pharma | Consumer Health |
1,6 | ||
1,2 | ||
0,2 | ||
Crop Science | Pharma | Consumer Health |
3,3 | ||
1,9 | ||
0,2 | ||
Crop Science | Pharma | Consumer Health |
6 | Free Cash Flow in €bn | 40 | ||
4,2 | ||||
4 | 3,1 | |||
30 | ||||
2 | 1,3 | 1,4 | 1,3 | |
0 | 20 | |||
2019 | 2020 | 2021 | 2022 | 2023 |
Net Financial Debt in €bn
34,1 | 34,5 | |||
33,1 | 31,8 | |||
30,0 | ||||
2019 | 2020 | 2021 | 2022 | 2023 |
8 | /// Bayer Debt Investor Relations /// Status: FY 2023/Q1 2024 |
FY 2024 Outlook: Updated FX Estimates
in €bn
Net Sales
EBITDA
(before special items)
Core EPS (in €)
Free Cash Flow
Net Financial Debt
2023 | 2024 |
as reported | at constant FX1 |
47.6 | -1% to +3% |
11.7 | -9% to -3% |
6.39 | 5.10 to 5.50 |
1.3 | 2.0 to 3.0 |
34.5 | 32.5 to 33.5 |
2024
estimated FX impact2
-2% to -3%pts
- -4%pts
- -0.30
- -0.3~ 0.5
1Reflects our 2024 guidance at the average actual currencies for 2023; 2Estimated FX impact: Currency assumptions based on month-end March 2024 spot rates (1 EUR=) 1.08 USD, 5.40 BRL, 7.85 CNY, 927 ARS, 34.94 TRY. | |
Impact is calculated as difference to constant currencies. | |
9 | /// Bayer Debt Investor Relations /// Status: FY 2023/Q1 2024 |
We Accelerate Cash Generation and Manage Adverse Impacts
Driving Operational Performance and Strengthen Cash Flow
Sales
Growth
Dynamic Shared
Ownership
Margin | Cash Flow |
Adverse Effects
Growth | Drive profitable growth |
beyond Xarelto LoE | |
Margin | Focused spend and |
realization of savings | |
Balance Sheet | Working Capital Optimization |
Efficiency | Focused CAPEX spend |
Divestment | Prudent asset review below |
Proceeds | divisional level |
Litigation related Payouts: Settlements and defense
Severance Payouts: Cash outs for DSO related personnel reductions
10 | /// Bayer Debt Investor Relations /// Status: FY 2023/Q1 2024 |
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Disclaimer
Bayer AG published this content on 14 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 June 2024 17:43:04 UTC.
