BayWa AG Annual Report 2011

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1 • The Company • Building Materials Segment Structure of the Building Materials Segment Segment Building Materials Business units Building Materials DIY & Garden Centres Products/ services Sales channels Through Group companies Civil engineering, extensions, construction, building services engineering, associated services Key operating data of the Building Materials Segment • BayWa AG Annual Report 2011 Own operations 1 Franchising 2 BayWa Handels-Systeme-Service GmbH (BHSS), Munich AFS Franchise Systeme GmbH, Vienna IFS S.r.I., Bolzano Building, home, machinery & equipment, garden 1 Spin-off of the DIY & Garden Centres in Germany effective 1 January 2012 2 The know-how of the Building Materials and DIY & Garden Centres business units is marketed externally through franchising operations. Revenues of the Building Materials Segment (in € bn) 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Building Materials Business Unit DIY & Garden Centres Business Unit 2008 2009 2010 2011 Building Materials Business Unit Number of locations 263 271 257 248 Surface area in m² thousand (all locations) 2,113 2,025 1,993 1,887 DIY & Garden Centres Business Unit Number of locations 118 117 115 101 Surface area in m² thousand (all locations) 280 287 274 308 29
30 1 • The Company • Building Materials Segment 2012 Hiving off of DIY & Garden Centres effective 1 January BayWa’s building materials retail business stands for competence, quality and reliable service. Together with Hellweg, a strong DIY chain, as a partner, BayWa has developed a solution which, on the one hand, allows the business to continue to operate in a forward-looking manner while, on the other, permitting BayWa to withdraw in the medium term without detriment to the capital employed. This cooperation strengthens the buying power and the profitability, for instance through a joint point-of-sale and inventory management system, and closes the gap to the leading home improvement chains. With effect from 1 January 2012, the DIY and garden centre operations were transferred to the newly established BayWa Bau- & Gartenmärkte GmbH & Co. KG in which BayWa and Hellweg, via Semer Beteiligungsgesellschaft mbH, each hold a stake of 50% until 1 January 2017. The second phase involves Hellweg raising its shares to 90%, with BayWa holding only 10%. Depending on clearly defined goals, BayWa will withdraw fully from the DIY and garden centre business either on 1 January 2019 or, if an option to renew is exercised, on 1 January 2021 at the latest. As there is virtually no overlapping in the operations networks of Hellweg and BayWa, and as Hellweg already ranks among the top 10 German home improvement chains, this solution ensures that jobs in the region will be retained, along with the ongoing management and development of the business. The franchise business is not affected by the disposal and will continue to receive support from BayWa. Strategic measures in Building Materials Optimisation fully under way As Germany’s number two in the building materials specialist retail trade, BayWa has a good competitive position for earning its cost of capital itself in an otherwise strongly fragmented market. “Project 2015” is a measure designed to make a decisive contribution to improving the profitability of the building materials trade. It comprises 15 individual projects, from supplier management across sales optimisation, performance-linked remuneration and employee satisfaction through to its own brands and process streamlining, concentrated under the responsibility of the respective managers. Another key area is the optimisation of building materials logistics through enhancing efficiency and minimising costs in transport and procurement logistics, inventory management and warehouse control. In addition, the locations network was reviewed in 2011. With 248 locations in Germany and Austria, BayWa is one of the largest nationwide full-line suppliers in the building materials specialist trade in the German-speaking countries. Moreover, some 530 locations are operated by franchise partners. The focus of the business is on the high-income regions of southern and western Germany and along the Rhine. BayWa is a full-line supplier in the building materials specialist retail business with great depth and width of the product mix for the construction industry and private customers. The offering ranges from construction steel and concrete, bricks and insulating materials through to windows, roof tiles and exterior plaster, supplemented by natural stone for the garden, tiles for use in the home through to a wide range covering interior design and fittings. Best selling products include ready-mix concrete, roof tiles, insulating materials and bricks. BayWa assumes the role of logistics partner in the delivery of these products, especially in the private customer business. In deciding on the product mix, BayWa’s strategy is to raise its market share through building on the product depth in a targeted way which will appeal to new customer groups. BayWa AG Annual Report 2011
Page 1 and 2: BayWa AG Annual Report 2011
Page 3 and 4: Page Table of Contents 3 Letter to
Page 5 and 6: 4 Letter to the Shareholders We int
Page 7 and 8: 6 The Board of Management The Board
Page 9 and 10: 8 The Supervisory Board The Supervi
Page 11 and 12: 10 The Cooperative Council The Coop
Page 13 and 14: Turners & Growers - a special acqui
Page 15 and 16: 14 1 • The Company • The Busine
Page 17 and 18: 16 1 • The Company • Agricultur
Page 23 and 24: 22 1 • The Company • Energy Seg
Page 29: 28 1 • The Company • Building M
Page 33 and 34: 32 1 • The Company • Goals and
Page 39 and 40: 38 1 • The Company • Conducting
Page 41 and 42: From ------------------------ € 0
Page 43 and 44: 42 2 • BayWa and the Capital Mark
Page 49 and 50: Excellent performance Agriculture:
Page 51 and 52: 50 Growth in Building Materials’
Page 53 and 54: 52 108 fully consolidated companies
Page 55 and 56: 54 Customer groups of BayWa’s bui
Page 57 and 58: 56 Significant increase in the pric
Page 59 and 60: 58 Increase of 19.8% in the revenue
Page 61 and 62: 60 Growth of 21.3% in the BayWa Gro
Page 63 and 64: 62 No entering into speculative ris
Page 65 and 66: 64 Sale of non-core real estate Bon
Page 67 and 68: 66 Excellent result in the financia
Page 69 and 70: 68 3 • Management Report on the C
Page 71 and 72: 70 Cyclical fluctuations lower than
Page 73 and 74: 72 BayWa Group with larger credit f
Page 75 and 76: 74 Stake of 70% in Tecno Spot GmbH
Page 77 and 78: 76 3 • Management Report on the C
Page 79 and 80: 78 Prospects for the sector positiv
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80 Grain imports to Germany possibl
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82 Contribution to value added anti
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84 4 • Consolidated Financial Sta
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4 • Consolidated Financial Statem
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132 4 • Consolidated Financial St
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The provisions have developed as fo
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(C.17.) Other liabilities The table
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(C.20.) Contingent liabilities 4
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The financial liabilities cover the
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In € million As per 31/12/2010 4
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2010 Assets 4 • Consolidated Fina
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(D.3.) Cost of materials 4 • Cons
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(D.7.) Interest income and expenses
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178 4 • Consolidated Financial St
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(E.8.) Executive and supervisory bo
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Franz Kustner Farmer Alois Pabst Fa
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Name and principal place of busines
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Name and principal place of busines
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Report of the Supervisory Board An
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Report of the Supervisory Board Sep
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Corporate Governance Report / State
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Remuneration Report Remuneration of
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29 March 2012 Annual Results Press
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BayWa AG Annual Report 2011

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