Annual Report 2020

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2020 – The fiscal year in numbers

In the 2020 reporting year, B. Braun sales grew 2.2 percent at constant exchange rates. This is outside of our strategic growth range of 5 to 7 percent, however, given the pandemic, the sales trend for 2020 is satisfactory. Depreciations of the US dollar and other currencies particularly affected the development of the reporting currency. Sales in the reporting currency fell 0.6 percent to € 7.4 billion (previous year: € 7.5 billion).

The Hospital Care, Out Patient Market and B. Braun Avitum divisions showed good increases in sales. The Aesculap division was unable to offset the negative effects of the pandemic due to elective surgeries being postponed in many countries. Our home market of Germany performed well in the reporting year, also development in Europe was largely positive. Sales in US dollars in North America were good, however they remained at the previous year’s level in the reporting currency. The Asia-Pacific region was unable to reach the previous year’s level. In Latin America, development in local currencies was satisfactory.

We were able to increase our operating profit in the reporting year, reaching the improved earning goal we set for ourselves. While cost increases in our production and growing regulatory requirements continued to put a strain on earnings, it was possible to reduce our cost level for sales and administration with a declining gross margin from a lack of business in Aesculap. In addition to actively controlled measures to improve process efficiency, this reduction was facilitated primarily by the restrictions on travel and sales activities put in place to contain the pandemic.

EBITDA for 2020 is 2.2 percent above the previous year, totaling € 1,103.2 million (previous year: € 1,079.1 million). The projected target range could not be reached for EBIT despite a significant increase compared to the previous year. Given the pandemic, however, we are nevertheless satisfied with this earnings trend. In absolute figures, the interim profit is € 509.0 million and the EBIT € 491.3 million, respectively, 7.1 percent and 26.4 percent above the previous year. Consolidated net income rose to € 301.5 million (previous year: € 197.3 million). The B. Braun Group remains in good, stable financial condition, even during the pandemic.

  

2019

2020

Change in %

Sales (in € million) 

7,471.3

7,426.3

- 0.6

EBITDA (in € million) 

1,079.1

1,103.2

+ 2.2

Profit before taxes (in € million) 

309.0

416.1

+ 34.7

Consolidated net income (in € million) 

197.3

301.5

+ 52.8

Employees (as of December 31)

64,585

64,317

- 0.4

We expanded our capacities in our core businesses in 2020, for example, by expanding and optimizing our facilities in Hungary, Germany and the US. In Spain, we completed the automation of closure technologies manufacturing. In South Africa, construction of a new plant for products in the Out Patient Market, Hospital Care and B. Braun Avitum divisions were very near to completion. In Switzerland, construction of a new plant for producing disinfection products started in May 2020. In addition we continued to optimize and expand our global network of renal care centers. About 80 percent of our extensive investment program has been financed with our own funds. Total additions to property, plant, and equipment, intangible assets and financial assets, and additions to investments in associated companies and acquisitions of fully consolidated companies amounted to € 782.8 million (previous year: € 894.6 million).Investments were offset by amortization and depreciation totaling € 621.4 million (previous year: € 599.2 million).

The strategic period that started in 2015 ended in the reporting year. With annual sales having increased by an average of 5.2 percent through 2019, we are within our strategic expectations. Overall, this means we have been able to achieve the key goals from our 2020 strategy. We continue to see the potential for optimization of profitability, for example, by downsizing corporate structures, getting new products to market sooner and reducing startup costs for new production facilities. Nevertheless, what has been accomplished is a solid foundation for the next strategic period.

In the reporting year, we developed our strategic framework, called B. Braun—the next decade, for the period up to 2030. New technologies and the digital transformation will be crucial when it comes to shaping the world of medical technology and the health care industry of tomorrow. This is why we will continue to drive digitalization forward and make key technologies, such as robotics and biotechnology, useful both for us and for our customers. This will allow us in the future to continue making a contribution to protecting and improving the health of people around the world.

Annual Report 2020

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B. Braun at a glance
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