BAUER Aktiengesellschaft · HAM:B5A0
BAUER Aktiengesellschaft — Q1 2007 Earnings Presentation
34 slides from BAUER Aktiengesellschaft's earnings presentation, May 15, 2007
Slide 1: BAUER Aktiengesellschaft Analyst Presentation Q1 2007
BAUER Aktiengesellschaft Analyst Presentation for the first quarter 2007
Slide 2: Contents
Contents 1 Key figures 2006 2 BAUER Group, business model, projects, products 3 Our market 4 Financial results - first quarter 2007 5 Outlook 6 The BAUER share 07-05-IR-Presentation_Q1_2007 2
Slide 3: Key figures 2006
1 Key figures 2006 2005 2006 Change in EUR million in EUR million in % Total Group revenues, of which 824.3 979.9 + 18.9 % - Germany 270.4 282.2 + 4.4 % - International 553.9 697.7 + 26.0 % - Construction 521.3 575.5 + 10.4 % - Equipment 335.7 463.4 + 38.0 % - Consolidation / Other - 32.7 - 59.0 n/a
Slide 4: BAUER Group
2 BAUER Group Two main business segments Construction Equipment ~ 57 % of Total Group revenues (a) ~ 43 % of Total group revenues (a) Specialist for foundation engineering Premium player for specialist foundation and construction Focus on complex projects equipment Related construction a
Slide 5: History of Bauer
2 History of Bauer Two centuries of experience 4 Jul 2006: IPO Early 1990’s: After WW II: End of 1970’s: Sept 2006: Build up of Start of construction Start of Admittance in specialist construction/ business internationalisation SDAX environmental business 1790 1950's 1960's 1970's 1980's 1990's 2000
Slide 6: Longstanding healthy business development
2 Longstanding healthy business development Steady growth and successful product diversification CAGR(b) Total Group revenues 1980 - 2006(a) 1990 – 2006 1000 900 Total Group revenues (EUR million) 800 43% 700 ~12% 600 500 400 ~17% 300 200 ~7% 100 ~1% 0 1980 1981 1982 1983 1984 1985 1986 1987 1988 19
Slide 7: Leading position in highly specialised markets
2 Leading position in highly specialised markets Worldwide network in both main business segments Equipment Construction BAUER Maschinen KSM, Kurgan, Russia BAUER Technologies, Tianjin, China Pileco, Houston, Texas BAUER AG, Schrobenhausen, Germany Klemm, Drolshagen, Germany 07-05-IR-Presentation_Q1
Slide 8: What is specialist foundation?
2 What is specialist foundation? Building an excavation pit Supporting Wall Ground Water Underpinning Injection Injection Anchor Pile Foundation Sealing Slab 07-05-IR-Presentation_Q1_2007 8
Slide 9: Applications for specialist foundation techniques
2 Applications for specialist foundation techniques Dam Diaphragm Wall Injection Anchors Pile Foundation Street Injection Anchors Injection Pile Anchors Foundation 07-05-IR-Presentation_Q1_2007 9
Slide 10: Exemplary projects - special foundation
2 Exemplary projects - special foundation Typical excavation pit Excavation pit in Germany, Nuremberg … … for future IMAX cinema 07-05-IR-Presentation_Q1_2007 10
Slide 11: Exemplary projects - special foundation (Germany)
2 Exemplary projects - special foundation Germany Regensburg, Walhalla Hannover, ECE Immenstadt-Seifen, Obere Iller Hamburg, Hafen City Hamburg 07-05-IR-Presentation_Q1_2007 11
Slide 12: Exemplary projects - special foundation (International)
2 Exemplary projects - special foundation International Iran, Karkeh Dam Sudan, Merowe Dam Hong Kong, elevated road 07-05-IR-Presentation_Q1_2007 12
Slide 13: Exemplary projects - special foundation (International)
2 Exemplary projects - special foundation International Australia, Tugun Bypass Abu Dhabi, Landmark Tyrol, Brenner base tunnel Qatar, Doha City 07-05-IR-Presentation_Q1_2007 13
Slide 14: Product range - equipment
2 Product range - equipment BG-systems: large diameter drilling rigs 07-05-IR-Presentation_Q1_2007 14
Slide 15: Product range - equipment
2 Product range - equipment Drilling tools 07-05-IR-Presentation_Q1_2007 15
Slide 16: Product range - equipment
2 Product range - equipment Grab systems, CSM, Trench cutters 07-05-IR-Presentation_Q1_2007 16
Slide 17: Product range - equipment
2 Product range - equipment Other 07-05-IR-Presentation_Q1_2007 17
Slide 18: Bauer product range on bauma 2007
2 Bauer product range on bauma 2007 07-05-IR-Presentation_Q1_2007 18
Slide 19: New products - I -
2 New products - I - Areas of strategic development Transferring core competencies to new markets Establishing of mines and Exploration drilling for mining Geothermal applications mining 07-05-IR-Presentation_Q1_2007 19
Slide 20: New products - II -
2 New products - II - Areas of strategic development Transferring core competencies to new markets Offshore wind parks, services Well drilling Water engineering for oil and gas drilling 07-05-IR-Presentation_Q1_2007 20
Slide 21: Recovery of German construction market
3 Recovery of German construction market Increase in orders received Absolute Figures Change in % 2006 West Germany East Germany West- East- 2006/ 2005/ 2006/ 2006/ 2005/ 2006/ Germany Germany 1994 2004 2005 1994 2004 2005 Employees in 1000 525.7 184.8 -46.8 -5.8 -0.5 -58.7 -8.5 -2.1 Building consen
Slide 22: Recovery of German construction market
3 Recovery of German construction market Increase in revenues & number of employees Revenues (in EUR million) Number of employees in the German construction market in the German construction market 1995 - 2007* 1995 - 2007* in ,000 2005/1995 2006/2005 2007/2006 in EUR million 2005/1995 2006/2005 200
Slide 23: World construction & specialist foundation market
3 World construction & specialist foundation market Attractive growth potential Global GDP outlook Construction industry Specialist foundation Construction Higher density in High infrastructure metropolitan areas Sound economic environment investments Increased complexity of projects Key i
Slide 24: Financial results
4 Financial results Results for the first quarter 2007 at a glance Continuing growth in revenues Total Group revenues in Q1 up 24 % to EUR 263 million (Q1 2006 EUR 212 million) Total revenues in our Equipment segment in Q1 up 46 % to EUR 143 million (Q1 2006 EUR 98 million) Total revenues in
Slide 25: Regional development & breakdown
4 Regional development & breakdown Total Group revenues Q1 2007 263 million Euro Germany 33% Other 6% Americas 10% 19% 10% Other EU Far East 13% 9% Other Europe (non EU) Middle East in TEUR Jan - March 2006 in % Jan - March 2007 in % change in % Germany 59,424 28% 87,383 33% 47.1% Europe (EU) 32,938
Slide 26: Regional breakdown of both business segments
4 Regional breakdown of both business segments Construction & Equipment Q1 2007 Construction Equipment Germany Germany 44% 23% Other Other 6% 5% Americas 6% Americas 25% 13% 9% Other EU Far East 13% 11% 19% 3% 15% Other EU 8% Far East Middle East Other Europe (non EU) Other Europe (non EU) Middle Ea
Slide 27: Financial results: Revenues & Earnings
4 Financial results Revenues & Earnings in EUR '000 Jan - March 2006 Jan - March 2007 change in % FY 2006 Total group revenues 212,319 263,114 23.9% 979,850 Consolidated revenues, Construction 104,225 123,306 18.3% 522,055 Consolidated revenues, Equipment 106,879 143,283 34.1% 457,631 Consolidated r
Slide 28: Financial results: P&L items
4 Financial results P&L items in EUR '000 Jan - March 2006 Jan - March 2007 change in % FY 2006 (a) Consolidated revenues (P&L) 202,202 252,557 24.9% 914,200 Material costs 117,347 144,059 22.8% 516,900 Personnel costs 40,939 45,108 10.2% 175,069 Depreciation 11,312 11,589 2.4% 50,206 Other operatio
Slide 29: Financial results: Balance sheet items
4 Financial results Balance sheet items in EUR '000 FY 2006 in % Jan - March 2007 in % change in % Assets 643,717 100.0% 726,751 100.0% 12.9% Intangible assets 11,346 1.8% 11,084 1.5% -2.3% Property, plant and equipment 184,855 28.7% 185,405 25.5% 0.3% Long term financial assets 9,552 1.5% 10,007 1.
Slide 30: Financial results: Cash flow items
4 Financial results Cash flow items in EUR '000 Jan - March 2006 Jan - March 2007 FY 2006 Operating cash flow -53,802 -34,722 38,972 Investing cash flow -10,354 -7,498 -48,007 Financing cash flow 69,544 51,833 11,657 Free Cash Flow -64,156 -42,220 -9,035 Net cash increase 5,388 9,613 2,622 Cash at s
Slide 31: Outlook
5 Outlook Continuing growth of world-GDP and worldwide construction market offers excellent basis for further growth in both business segments Order book increase sustainable for the Group Construction German construction market expected to gain momentum in the second half of the year Inte
Slide 32: The BAUER share
6 The BAUER share Share performance Listed on Frankfurt stock exchange, Prime Standard since 4 July 2006 17,131,000 shares issued Issue price EUR 16.75 BAUER AG Listed in SDAX since 18 September 2006 SDAX Earnings per share 2006 EUR 2.17 IPO Dividend proposed for 2006 0.50 EUR per share
Slide 33: Disclaimer
Disclaimer This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts, including statements about our beliefs, intentions, expectations, predictions and the assumptions underlying them. These statements are based on factors as they
Slide 34: BAUER Aktiengesellschaft
BAUER Aktiengesellschaft ISIN DE0005168108 Reuters B5AG.DE Bloomberg B5A GR Listing Indices C-DAX GEX Classic All Share Prime All Share Investor Relations BAUER Aktiengesellschaft Wittelsbacherstraße 5 D - 86529 Schrobenhausen Tel.: +49 8252/ 97- 1918 Fax: +49 8252/ 97- 2900 Email: bettina.mestenhau
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