Rosenbauer International Ag · VIE:ROS
Rosenbauer International — Q3 2020 Earnings Presentation
35 slides from Rosenbauer International's earnings presentation, Nov 17, 2020
Slide 1: Investor & Analyst Presentation Q3 2020 Financial Figures
Rosenbauer Group Rosenbauer Group Investor & Analyst Presentation I Q3 2020 Financial Figures Sebastian Wolf I CFO Person Date November 17, 2020
Slide 2: Disclaimer
Disclaimer This presentation was produced by Rosenbauer International AG (Rosenbauer for short) for informational purposes only. Despite the greatest care taken by Rosenbauer, no guarantee is given for the correctness and completeness of the content. This presentation may not be reproduced, transmit
Slide 3: Agenda
Agenda 1. Rosenbauer Group at a glance 2. Q3 2020 financial figures 3. Outlook Q&A
Slide 4: Rosenbauer Group at a glance
Rosenbauer Group at a glance
Slide 5: Equity story
Equity story GLOBAL MARKET LEADER INNOVATION LEADER ■ System provider of fire-fighting equipment and ■ High R&D expenditures, Rosenbauer Group holds preventive fire protection more than 200 patents ■ Globally leading ■ First mover pioneering producer of fire- sustainability fighting vehicles technol
Slide 6: Global network of production facilities, sales and service offices
Global network of production facilities, sales and service offices EUROPE AUSTRIA Leonding Neidling Graz Telfs FRANCE Meyzieu GERMANY Karlsruhe Luckenwalde Mogendorf and Gladbeck Bad Abbach-Lengfeld Viersen ITALY Rovereto Andrian POLAND Warsaw RUSSIA AMERICA MIDDLE EAST/ ASIA/AUSTRALIA Moscow Lyons
Slide 7: World firefighting vehicle market 2009-2018
World firefighting vehicle market 2009-2018 Fire-fighting vehicle Fire-fighting vehicle Rosenbauer Group market worldwide market worldwide Revenues Approximate number Global annual volume in EUR million of vehicles in thousands in EUR billion +5.9% +2.2% p.a. 978.1 p.a. +5.4% 4.8 847.6 22 870.8 909.
Slide 8: The innovative year 2020
The innovative year 2020 RFC POLY extinguishing systems L27A-XSC aerial ladder (5 August) (14 September) GLOROS T1 RTE FX nozzle Protective gloves (19 August) (3 September) Multifunctional RTE robot Revolutionary Technology RT RTE RC Profile L32A-XS Flat aerial ladder (23 September) (23 September) R
Slide 9: RT stands for …
RT stands for … Ergonomics and Reduction in CO2 health protection emissions and sustainability Connectivity High utility value and digitalization and cost-effectiveness Vehicle dynamics, agility and driving safety Investor Presentation I 9
Slide 10: Global market potential for the RT model series until 2030
Global market potential for the RT model series until 2030 Vehicles 3,200 vehicles worldwide By 2030 the globally installed base with technology similar to the RT may reach 3,200 vehicles. In Europe, as many as 700 - 800 units could be in use already by 2025. As first mover Rosenbauer 700 - 80
Slide 11: Q3 2020 financial figures
Q3 2020 financial figures / € rosenbauer
Slide 12: Rosenbauer Group highlights
Rosenbauer Group highlights ■ Rosenbauer Group with continuous business growth over the first nine months 2020, revenues increase by 16.5% to € 713.9 million ■ Especially shipments in the MENA area, NISA area and CEEU area turn out to be significantly higher, while North America and Asia grow modest
Slide 13: COVID-19 pandemic: Risks to Rosenbauer Group
COVID-19 pandemic: Risks to Rosenbauer Group Risks Customer acceptances ■ Single delays ■ Currently no official shut-downs of service locations or production sites Supply chain ■ Suppliers of chassis have restarted their production, single delays in the US Staff ■ Low numbers of COVID-19 infections
Slide 14: Financial figures
Financial figures € million 1-9/2018 1-9/2019 1-9/2020 2019/2020 Revenues 552.0 614.5 713.9 +16% EBIT 17.0 15.1 25.4 +68% EBIT margin 3.1% 2.5% 3.6% - EBT 11.7 9.9 21.6 +119% Net profit for the period 10.6 9.0 17.3 +92% Cash flow from -83.4 -136.3 -39.6 +71% operating activities Investor Presentat
Slide 15: Revenues and EBIT quarterly
Revenues and EBIT quarterly € million 500 60 450 55 50 400 357,4 363,6 45 350 36,8 40 300 31,8 35 255.9 243,1 232,9 250 218,8 219,9 225,1 30 210,9 199,3 200 190,3 175,8 25 162,4 20,0 20 150 12,1 15 100 8,9 9,9 6,3 7,0 10 4,3 1,1 50 2,1 3,1 5 1,1 0 0 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3
Slide 16: Revenues development
Revenues development € million +16.2% +9.2 +0.5 713.9 +2.2 +43.4 ■ Rosenbauer Group with revenues at a new all-time-high in +19.8 1-9/2020 +24.3 ■ All business segments contribute 614.5 to revenue growth ■ MENA area, NISA area and CEEU area show strongest increases 1-9/2019 CEEU CEEU NISA MENA APAC
Slide 17: EBIT development
EBIT development € million +68.2% 30 +12.6 25.4 ■ As for a full order +2.6 +0.6 book and a strong 25 operating -4.7 performance EBIT 20 improves in 15.1 1-9/2020 15 +0.5 -1.3 ■ Q3 was even twice 10 as profitable as Q3/2019 5 ■ MENA area and NOMA area with 0 biggest increases 1-9/2019 CEEU CEEU NISA
Slide 18: Investments
Investments CAPEX, depreciation and amortization € million 18,6 17,4 17,3 14,8 5,6 13,3 13,9 4,7 13,5 12,1 6,4 1,5 3,3 1,4 1,8 0,8 11,8 12,5 12,6 11,7 13,0 11,5 11,3 11,0 Q1-Q3 Q1-Q3 Q1-Q3 Q1-Q3 2017 2018 2019 2020 Investment Capitalized R&D and change in IFRS 16 Depriciation and amortization* Depre
Slide 19: Accounting ratios
Accounting ratios FY 2019/ € million / % Sep. 30, 2019 Dec. 31, 2019 Sep. 30, 2020 Q3 2020 Total assets 954.2 977.5 1,008.0 1 +3% Equity ratio 24.4% 25.9% 25.9% 2 - Capital employed (ø) 615.0 603.8 709.2 +18% ROCE 2.5% 8.6% 3.6% - Net debt 425.6 342.5 407.3 3 +19% Gearing ratio 182.9% 135.1% 155.7
Slide 20: Balance sheet structure (in € million)
Balance sheet structure (in € million) 1.008,0 1008,0 Assets 976,8 954,2 954,2 976.8 Provisions 54,9 47,7 54,9 186,3 217,6 204,0 756,3 756,3 254,2 231,3 254,2 53,6 Liabilities and 180,1 other debt 311,4 311,3 248,1 165,8 Receivables 232,6 261,5 262,0 and other 209,9 assets 224,8 Equity 479,1 479,1 5
Slide 21: Trade Working Capital and Financing
Trade Working Capital and Financing Trade Working Capital Financing TRADE WORKING CAPITAL € million € million € million 500 190,00% 978,1 980 182,9% 1000 160% 450 425,6 909,4 407,3 170,00% 140% 400 155,7% 350 150,00% 750 120% 293,7 300 100% 130,6% 261,5 130,00% 537.7 534.3 250 224,8 232,6 500 440.1
Slide 22: Optimizing CCC – Concrete measures
Optimizing CCC – Concrete measures Order clarification for all locations (production/sales locations) Reduction of unplanned requirements RBI Optimized loading planning Work in Europe-wide program planning Progress WIP reduction production Luckenwalde, Karlsruhe, Neidling tbd. Standardiz
Slide 23: Rosenbauer signs first syndicated loan
Rosenbauer signs first syndicated loan ■ Volume: € 170 million (working capital line) ■ Term: 3 years (possible extensions) ■ Consortium members: Raiffeisen Bank International (Joint Coordinators, MLA & Bookrunner) UniCredit Bank Austria (Joint Coordinators, MLA & Bookrunner) Commerzbank (MLA) Erste
Slide 24: Outlook
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Slide 25: Order intake / backlog
Order intake / backlog Order intake/backlog Order intake 1-9/2020 € million by Area (1-9/2019) 1.223,8 1.093,6 1.074,4 SFP APAC 3% (3%) 9% (22%) 803,5 803,4 789,9 784,1 CEEU 36% (35%) 654,4 660.0 588,8 € 660.0m NOMA 29% (20%) NISA 10% (11%) MENA 13% (9%) 1-9/2016 1-9/2017 1-9/2018 1-9/2019 1-9/2020
Slide 26: Outlook
Outlook ■ The global economy is climbing out from the depths to which it has plummeted during the Great Lockdown. The IMF is projecting global growth at -4.4 % in 2020, a less severe contraction than in its preceding forecast. ■ Nevertheless uncertainty remains unusually high, as the forecast rests
Slide 27: Thank you for your attention! Q&A
Thank you for your attention! Q&A
Slide 28: Appendix
Ss = \ = | Appendix A
Slide 29: Executive board
Executive board Dieter Siegel Sebastian Wolf Andreas Zeller Daniel Tomaschko CEO CFO CSO CTO Corporate Development Audit Area CEEU Supply Chain Management Human Resources Controlling Area NISA Central Technics Strategy Accounting/Tax Area APAC Center of Competence Innovation & Marketing Treasury Are
Slide 30: Comparison of competitors 2018/19
Comparison of competitors 2018/19 ■ Global annual volume € 4,800 million (2017: € 4.250 million) ■ Appr. 19,500 vehicles (2017: appr. 21,100) ■ Buyers are mainly public institutions ■ Consolidation of North-American markets favors US producers ■ Share of revenues of the top-10-companies appr. 70% Ra
Slide 31: Leading system provider for fire protection
Leading system provider for fire protection (Product segments and % of group revenues; as of Dec. 31 2019) Municipal vehicles 40% ARFF Fire & Safety vehicles Equipment Vehicles 16% 78% Aerials Customer Service 16% 6% Industrial Stationary Fire 9% Protection vehicles 7% 2% 4% sonstige Umsätze Investo
Slide 32: Number of employees (reporting date)
Number of employees (reporting date) Sept 30, 2020 1,631 884 988 485 3,988 Sept 30, 2019 1,510 841 962 468 3,781 Sept 30, 2018 1,398 826 897 425 3,546 Sept 30, 2017 1,351 823 851 349 3,374 Sept 30, 2016 1,399 781 800 340 3,320 Austria USA Germany Rest of the world In addition, Rosenbauer employs a
Slide 33: Financial strain from COVID-19 pandemic
Financial strain from COVID-19 pandemic (in Q2 2020) 14 12 - € 3.3 million 10 Effect on further production sites in Europe and Asia Main production sites in Austria 8 - € 5 million 6 Lost revenues, reduction of contribution margin 4 € 3 million 2 Compensation from AMS - € 3.7 million (short time wor
Slide 34: Rosenbauer share
Rosenbauer share Investor FR 1-9/2019 1-9/2020 5% Highest price € 45.6 45.4 BVG * Free float 51% 44% Lowest price € 33.1 23.0 Closing price € 39.3 33.4 * Rosenbauer Beteiligungsverwaltung GmbH Market capitalization € million 267.2 227.1 Dividend € 1.25 0.8 Earnings per share € 0.3 1.3 ATX Prime -33.
Slide 35: Financial calendar 2021
Financial calendar 2021 February 19, 2021 Publication of the preliminary results 2020 April 9, 2021 Publication of the financial results 2020 May 18, 2021 Publication of the interim statement Q1/2021 May 26, 2021 29th Annual General Meeting, Vienna August 13, 2021 Publication of the half-year financ
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