Rosenbauer International Ag · VIE:ROS
Rosenbauer International — H1 2022 Earnings Presentation
35 slides from Rosenbauer International's earnings presentation, Aug 12, 2022
Slide 1: Rosenbauer Group Investor & Analyst Presentation H1 2022
Rosenbauer Group Investor & Analyst Presentation H1 2022 Sebastian Wolf | CEO, CFO August 12, 2022
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 Agenda 1. Rosenbauer Group at a glance 2. H1 2022 financial figures 3. Outlook Q&A Investor Presentation | 3
Slide 4: Rosenbauer Group at a glance
Rosenbauer Group at a glance
Slide 5: Equity story
Equity story GLOBAL MARKET LEADER INNOVATION LEADER GLOBAL MARKET LEADER INNOVATION LEADER ■ System provider of fire-fighting ■ High R&D expenditures, Rosenbauer equipment and preventive fire Group holds around 220 patents protection ■ Pioneer in sustainability ■ Globally leading producer of technol
Slide 6: Change at the top of Rosenbauer Group
Change at the top of Rosenbauer Group ■ Sebastian Wolf follows Dieter Siegel as new CEO of Rosenbauer Group, effective with August 1, 2022 ■ Continues to hold the position of the CFO until the Executive Board is complemented ■ Prioritization of operational excellence in a challenging business enviro
Slide 7: Refocus, restart – Agenda 2022
„Refocus, restart“ – Agenda 2022 ■ Strong focus on operational performance and EBIT ■ Fix price contracts and long throughput times increase pressures from current business environment ■ Improve profitability and reduce capital employed to what is absolutely necessary in these challenging times ■ Ex
Slide 8: New executive leadership team at Rosenbauer America
New executive leadership team at Rosenbauer America ■ 1995 Entry in the US market ■ 1997 Rosenbauer America LCC (RBA) is founded as a holding company (Rosenbauer International holds a 50% stake) for the four local production companies. ■ 2022 Complete take over of the US holding company by Rosenbaue
Slide 9: Interschutz 2022: Everything for that moment
Interschutz 2022: Eyerthing for that moment At the Interschutz 2022 in Hanover Rosenbauer demonstrates its innovation and product leadership to an international audience (85,000 visitors). ■ Clear positioning as global market leader ■ Presentation of long-term strategy “Rosenbauer City 2030” ■ Launc
Slide 10: H1 2022 financial figures
H1 2022 financial figures
Slide 11: Highlights H1/2022
Highlights H1/2022 The Rosenbauer Group generates € 429.7 million in revenues in the first half-year 2022 ■ Area CEEU and Area NOMA manage to increase shipments slightly ■ Catch-up process in the second quarter Due to a lower gross profit and increased costs of R&D and sales EBIT amounted to € - 23.
Slide 12: Key financial figures
Key financial figures in € million H1/2020 H1/2021 H1/2022 Change Revenues 458.0 448.1 429.7 -4.1% EBIT 5.4 11,8 -23.2 - EBIT margin 1.2% 2.6% -5.4% - EBT 2.5 9.2 -26.0 - Net profit for the period 2.2 7.4 -11.7 - Cash flow from -34.0 -27.7 -121.8 - operating activities Investor Presentation | 12
Slide 13: Revenues and EBIT quarterly
Revenues and EBIT quarterly in € million 800 90,0 80,0 700 70,0 60,0 36,8 50,0 600 32,5 40,0 20,0 22,1 30,0 500 9,9 8,9* 20,0 3,1 4,3 1,1 0,4 3,6 -4,5* 10,0 400 363,6 0,0 330,3 325,6 -18,6 -10,0 300 255,9 253,0 -20,0 232,9 225,1 241,9 -30,0 218,8 219,9 206,2 201,4 176,7 -40,0 200 -50,0 -60,0 100 -70
Slide 14: Development of revenues
Development of revenues in € million +2.4 -4.1% 448.1 ■ Rosenbauer Group with € 429.7 -3.3 million in revenues after the first -7.2 +5.7 429.7 half-year 2022 +1.2 -17.2 ■ Despite persisting supply chain issues Area CEEU and Area NOMA manage to increase their shipments slightly ■ The segment Preventi
Slide 15: Development of EBIT
Development of EBIT in € million 11,8 ■ Due to a lower gross profit and increased structural costs EBIT amounted to € -23.2 million -10.5 -1.9 -2,7 ■ Preventive Fire Protection reports a -6,4 „black zero“ +1.3 ■ Measures to improve performance -14,8 -23,2 initiated at all relevant production H1 2021
Slide 16: Investments, depreciation
Investments, depreciation Investments, depreciation in € million 9,4 9,4 9,6 8,6 ■ Expansion of production site 8,2 8,4 8,3 Luckenwalde (Germany) 6,8 7,0 6,4 ■ Further roll-out of SAP S4/Hana ■ Measures to improve efficiency of plant I, Leonding (Upper Austria) H1/2018 H1/2019 H1/2020 H1/2021 H1/202
Slide 17: Statement of financial position – key figures
Statement of financial position – key figures Change HJ/2021 vs. in € million 06/30/2021 12/31/2021 06/30/2022 HJ/2022 Total assets 962.2 891.6 1,014.0 5.4% Equity ratio 21.7% 25.2% 19.5% - Capital employed (ø) 649.3 610.5 637.2 2.0% ROCE 1.8% 5.7% -3.6% - ROE 4.2% 12.8% -12.3% - Net debt 345.3 203.
Slide 18: Trade Working Capital and financing
Trade Working Capital and financing Trade Working Capital Financing in € million in € million 217,5% 1.044,2 975,1 1.000,0* ■ Improvement of the 165,1% 158,1% Trade Working Capital to € 466.9 million 505,6 478,0 466,9 428,9* ■ Ratio of advanced 393,4 345,3 payments 15.3% 248,9 209,1 197,2 ■ Payment
Slide 19: Cash Conversion Cycle – current status
Cash Conversion Cycle – current status Cash Conversion Cycle (days) and Trade Working Capital (€ million) 178 170 478 466,9 76 70 47 56 179 170 20 22 -5% -2% DIO DSO DDO DPO H1/2021 H1/2022 CCC TWC * Cash Conversion Cycle = Days Inventory Outstanding + Days Sales Outstanding – Days Downpayments Outs
Slide 20: Standardized stock fire trucks for the most urgent requests from fire brigades
Standardized stock fire trucks for the most urgent requests from fire brigades ■ Starting point: Poor material availabilities (e.g. chassis, microchips, cable trees, …) delay the completion and handover of fire trucks ■ For this reason, Rosenbauer is going to produce a limited number of highly stand
Slide 21: Outlook
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Slide 22: Order intake / backlog
Order intake / backlog Order intake / order backlog Order intake 1-6/2022 by area in € million PFP 3% (3%) 1.334,2 APAC 1.229,4 9% (12%) 1.118,2 1.092,0 1.030,5 CEEU 42% (37%) € 581,4 NOMA 581,4 27% (24%) million 571,1 525,4 488,2 455,3 NISA MENA 11% (13%) 8% (11%) 1-6/2018 1-6/2019 1-6/2020 1-6/202
Slide 23: Impending gas shortage: Rosenbauer pushes for lower consumption and more efficiency
Impending gas shortage: Rosenbauer pushes for lower consumption and more efficiency Since 2020, Rosenbauer Group has reduced its gas consumption gradually by 35 %, taking several actions to substitute fossil energy. ■ Rosenbauer consumes a comparable low amount of natural gas for its operations. The
Slide 24: Outlook
Outlook ■ In July, the International Monetary Fund (IMF) has reduced its projections of global economic growth from 3.6 % to 3.2 % and from 3.6 % to 2.9 % in 2022 and in 2023 respectively. Several shocks have hit a world economy already weakened by the pandemic: higher-than-expected inflation worldw
Slide 25: Thank you for your attention! Q&A
Thank you for your attention! Q&A
Slide 26: Appendix
Appendix PA
Slide 27: Executive Board and employee figures
Executive Board and employee figures Daniel Tomaschko CTO Production Units | Project & Order Centers | Supply Chain Management I Number of employees (as of reporting date) Quality Management I Preventive Fire Protection | Austria USA Germany RoW Central Technics 30.06.2022 1.724 903 1.001 576 4,204
Slide 28: Perspective 2030: Selected megatrends driving the firefighting industry
Perspective 2030: Selected megatrends driving the firefighting industry CLIMATE CHANGE DIGITALIZATION SOCIAL CHANGE ■ Global warming ■ USD 1.8 trillion will be invested ■ 80 years is currently the average in digitalization worldwide in 2022 life expectancy in countries with ■ 820 natural disasters h
Slide 29: Global competitive landscape 2020/21
Global competitive landscape 2020/21 Ranking of fire fighting manufacturers 2020/21 revenues in € million ■ 2020 global Peer 1 1,035 firefighting vehicle market volume: Rosenbauer* 945 € 5,322 million Peer 2 670 (2019: € 5,050 million) Peer 3 540 ■ Approx. 20,400 vehicles Peer 4 350 (2019: 20,600) P
Slide 30: Worldwide network of production, service and sales locations
Worldwide network of production, service and sales locations EUROPE AUSTRIA Leonding Neidling Asten Graz ASIA/ Telfs AUSTRALIA FRANCE Chambéry CHINA Meyzieu AMERICA Kunming GERMANY Lyons, South Dakota SINGAPORE Karlsruhe Fremont, Nebraska SINGAPORE Luckenwalde Wyoming, Minnesota PHILIPPINES Mogendor
Slide 31: Leading system provider for fire protection
Leading system provider for fire protection (Product segments and % of group revenues; as of Dec. 31, 2021) Municipal Fire & Safety Equipment ARFF Customer Service Vehicles 76% Aerials Preventive Fire Protection Industrial 3% 4% other revenues Investor Presentation | 31
Slide 32: T&E project to safeguard 2022 commercial targets initiated – two components
T&E project to safeguard 2022 commercial targets initiated – two components Efficiency Transparency Components ■ Identification and realization of potential cost ■ Starting point: Higher volatility of business savings as well as strategic improvement of environment and strategic improvement of profi
Slide 33: T&E project heading toward phase 4 – start realization and evaluation of effects
T&E project heading toward phase 4 – start realization and evaluation of effects Roadmap Clarification of 1 potential (until end of April) 2 Position determination (until end of Feb.) 3 Status quo 4 T&E initiative Specification € 11.0 million Group Austria of measures € 3.5 million Group Germany (un
Slide 34: Rosenbauer share
Rosenbauer share 1-6/2021 1-6/2022 Investor FR 7% Highest price in € 58.0 48.6 BVG2) 51% Lowest price in € 36.6 33.7 2) Rosenbauer Beteiligungsverwaltung GmbH Free float3) 3) The non-voting right registered shares are 42% attributed to the free float. Closing share price in € 53.2 33.7 Market capita
Slide 35: Financial calendar
Financial calendar August 12, 2022 Publication of the Half-year Financial Report 2022 November 15, 2022 Publication of the Interim Statement Q3/2022 Investor Presentation | 35
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