BAUER Aktiengesellschaft · HAM:B5A0

BAUER Aktiengesellschaft — Bauer — Q1 2015 Earnings Presentation

48 slides from BAUER Aktiengesellschaft's earnings presentation, May 13, 2015

  1. Slide 1: BAUER AG Group Presentation First Quarter 2015

    BAUER AG Group Presentation First Quarter 2015 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen

  2. Slide 2: Key Figures Q1 2015

    Key Figures Q1 2015 Q1 2014* Q1 2015 ∆ Q1 in EUR million in EUR million in % Total Group revenues, of which 378.1 409.1 8.2 % - Germany 112.5 124.1 10.3 % - International 265.6 285.0 7.3 % - Construction 178.5 193.5 8.4 % - Equipment 163.8 173.8 6.1 % - Resources 48.4 54.3 12.1 % - Other/Consolidati

  3. Slide 3: Key Figures Q1 2015 – Main topics

    Key Figures Q1 2015 Main topics  Total Group revenues with EUR 409.1 million were 8.2 % above previous year (EUR 378.1 million). EBIT with EUR 1.2 million was lower than in the previous year with EUR 4.9 million. Net loss for the period was EUR -8.6 million (previous year: EUR -7.4 million).  Reve

  4. Slide 4: Contents

    Contents 1 Overview BAUER Group p. 5 2 Challenges & Chances p. 9 3 Market environment p. 12 4 Financials p. 14 5 Guidance 2015 p. 23 6 Appendix p. 24 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 4

  5. Slide 5: BAUER Group: Mission & Strategy

    1 BAUER Group Mission & Strategy Mission EUR 1.56 billion total Group revenues The BAUER Group is a leading provider of services, equipment & products dealing with ground and groundwater. EUR 76.4 million EBIT Strategy 5.6 %  The world is our market. EBIT margin 26.6 %  Global network organization

  6. Slide 6: BAUER Group: The three segments

    1 BAUER Group The three segments Construction Equipment Resources  Global provider for specialist  Market leader in specialist  Products & services related to foundation engineering services foundation equipment water, environment and natural resources.  Focus on complex, international  New pro

  7. Slide 7: Total Group Revenues

    1 Total Group Revenues Longstanding healthy business development in EUR million (segment after deducting Other/Consolidation) Total 1,560 Financial crisis Resources 249 Equipment 612 Far East crisis German reunification Construction Overseas 510 Construction Domestic 189 Note: from 2003 based on IFR

  8. Slide 8: Worldwide network

    1 Worldwide network More than 110 subsidiaries in about 70 countries Permanent Offices: Construction Equipment sales BAUER Maschinen Kurgan, Resources Kurgan, Russia Equipment production locations BAUER Tianjin Technologies, Tianjin, China BAUER Manufacturing Inc. BAUER Maschinen Group, plant Aresin

  9. Slide 9: Challenges of the world provide chances for the company

    2 BAUER Group Challenges of the world provide chances for the company Urbanization Infrastructure Water The megatrend urbanization leads to High demand for new infrastructure and The shortage of clean drinking water more complex inner-city solutions for restoration of existing structures is one of t

  10. Slide 10: Solutions for the biggest challenges and megatrends

    2 BAUER Group Solutions for the biggest challenges and megatrends Urbanization & Infrastructure Construction Equipment  Leading position in special  Market leader in specialist foundation engineering. foundation equipment.  Global activities with presence  Focus on specialized and in over 50 cou

  11. Slide 11: Chances

    2 BAUER Group Chances Construction Equipment Resources  Growing construction markets  Growth potential in new markets  Full-service provider for products worldwide. and with specialized machines. and solutions related to water.  Huge pent-up demand in  Manufacture of customized deep  Ground-br

  12. Slide 12: World construction markets

    3 World construction markets Bauer market potential + Russia: - Germany: quite good. Eastern Europe: slowly positive o Crisis regarding Ukraine; difficult to predict. USA / Canada: + development public demand, power plants, dams, etc. Western Europe: weak markets - Middle East: + Central Asia: good

  13. Slide 13: Global economic situation

    3 Global economic situation IMF projection of the real annual GDP growth in % 1.4 1.5 0.2 0.5 1.8 1.6 2014 2015 1.4 2014 2015 0.8 2.3 Russia 1.8 Germany 2014 2015 7.4 2014 2015 7.1 CIS* 2014 2015 European Union United States 6.5 6.6 3.9 2.7 1.4 5.8 0.3 5.1 2014 2015 2014 2015 2014 2015 China Middle

  14. Slide 14: Revenues, earnings & orders – Group

    4 Financials Revenues, earnings & orders – Group Revenues Orders in hand in EUR million in EUR million Total Group revenues Sales revenues 1,560 848.2 1,600 1,504 880 1,436 1,402 1,376 785.0 765.2 762.7 1,344 721.1 1,200 660 800 440 378 409 400 220 313 300 0 0 2012 2013 2014 3M 2014 3M 2015 2012 201

  15. Slide 15: Revenues, earnings & orders – Segments

    4 Financials Revenues, earnings & orders – Segments Total Group revenues Orders received in EUR million in EUR million Construction Equipment Resources Construction Equipment Resources 1,504 1,560 1,558 409 495 1,484 +42.2 % +33.9 % 378 +12,1% 189 253 180 256 54 74 48 +3.7 % 334 +7.8 % 629 +1.7 % 63

  16. Slide 16: Regional breakdown – Total Group revenues 2014

    4 Financials Regional breakdown – Total Group revenues 2014 in EUR million Total 1,560 Germany 440 (28 %) Africa 62 (4 %) Americas 172 (11 %) Asia-Pacific, Full year 2013 (adjusted) Far East & Australia in EUR million Germany 410 (27 %) 377 (24 %) Total 1,504 Africa 58 (4 %) Americas 186 (13 %) Asia

  17. Slide 17: Regional breakdown – Segments (FY 2014)

    4 Financials Regional breakdown – Segments (FY 2014) Construction segment Equipment segment Resources segment in EUR million Total 699 Total 612 Total 249 Germany 189 (27 %) Germany 118 (19 %) Germany 133 (54 %) Africa 4 (2 %) Africa 49 (7 %) Africa 9 (1 %) Americas 8 (3 %) Americas 68 (10 %) Americ

  18. Slide 18: Working capital needs & net debt

    4 Financials Working capital needs & net debt Bauer’s business model with its three segments Net working capital requires considerably more working capital than in EUR million other companies in construction markets. 800 600  Changes during the year: - Levels of working capital in the balance sheet

  19. Slide 19: Working capital needs & cash flow

    4 Financials Working capital needs & cash flow Building construction  Equipment segment: EUR positive cash contribution - Due to very special parts being installed, parts need to be pre-ordered well in advance  approx. 3 months pre-financing of equipment during production. Contract value Negative

  20. Slide 20: Income statement 3M 2015

    4 Financials Income statement 3M 2015 in EUR '000 3M 2014 3M 2015 ∆ in % Consolidated revenues (P&L) 371.148 391.455 5,5% Sales revenues (P&L) 313.352 299.560 -4,4% Material costs -199.309 -195.086 -2,1% Personnel costs -85.758 -91.326 6,5% Depreciation and amortization of fixed assets -19.057 -20.4

  21. Slide 21: Balance sheet March 31, 2015

    4 Financials Balance sheet March 31, 2015 in EUR '000 March 31, 2014* March 31, 2015 ∆ in % Assets 1.637.656 1.738.031 6,1% Intangible assets 35.248 33.986 -3,6% Property, plant and equipment 449.499 466.282 3,7% Long term financial assets 19.602 75.143 n/a Other long term assets & deferred taxes 35

  22. Slide 22: Cash flow statement 3M 2015

    4 Financials Cash flow statement 3M 2015 in EUR '000 3M 2014 3M 2015 ∆ in % Cash flow from operating activities -80.244 -79.396 n/a Cash flow from investing activities -9.502 -10.245 7,8% Cash flow from financing activities 77.231 86.169 11,6% Free Cash Flow -89.746 -89.641 n/a Changes in liquid fun

  23. Slide 23: Guidance 2015

    5 Guidance 2015 Top-line growth with a slight increase in profitability BAUER Group 2014e* 2014 final 2015e Total Group Revenues ~ 1,550 EUR million 1,560 EUR million ~ 1,600 EUR million EBIT ~ 75 EUR million 76.4 EUR million ~ 75 EUR million at lower end of Net profit 15-20 EUR million 15.7 EUR mil

  24. Slide 24: Appendix

    Appendix A The BAUER Group p. 25 B What is specialist foundation? p. 28 C Construction projects p. 30 D Equipment programme p. 34 E Resources projects p. 39 F Market environment Germany p. 43 G BAUER share p. 44 H Key Figures Time Line p. 46 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schro

  25. Slide 25: BAUER Group: The history – Two centuries of experience

    A BAUER Group The history – Two centuries of experience 1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2014 1790 1900-1970 1980-1990 2000-2014 End of 1970’s: Early 1980’s: FY 2014: Start of Selling of equipment to 4. Jul

  26. Slide 26: BAUER Group: The three segments

    A BAUER Group The three segments  Target: ~ 40 % of  Target: ~ 20 % of total Group revenues total Group revenues  Market leader in  Activities in specialist foundation environmental equipment technology, mining, deep drilling, well  New products for construction, mining, deep drilling materials

  27. Slide 27: Headquarters and plant Schrobenhausen, Germany

    A BAUER Group Headquarters and plant Schrobenhausen, Germany 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 27

  28. Slide 28: What is specialist foundation?

    B What is specialist foundation? Building an excavation pit Supporting Wall Ground Water Underpinning Injection Injection Anchor Pile Foundation Sealing Slab 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 28

  29. Slide 29: What is specialist foundation used for?

    B What is specialist foundation used for? Applications for projects Buildings Infrastructure Water – Energy Industry Foundations Excavation pits Cut-off walls Ground improvement 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 29

  30. Slide 30: Mauritius – Diaphragm wall for Bagatelle dam

    C Construction Mauritius – Diaphragm wall for Bagatelle dam 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 30

  31. Slide 31: Bhutan – Diaphragm wall for hydroelectric power plant

    C Construction Bhutan – Diaphragm wall for hydroelectric power plant 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 31

  32. Slide 32: Aswan, Egypt – Offshore pile foundation for Nile bridge

    C Construction Aswan, Egypt – Offshore pile foundation for Nile bridge 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 32

  33. Slide 33: Germany – Foundation works for Schwarzkopf Tunnel bypass

    C Construction Germany – Foundation works for Schwarzkopf Tunnel bypass 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 33

  34. Slide 34: Product range: Drilling rigs (BG series) – ValueLine

    D Equipment Product range: Drilling rigs (BG series) – ValueLine BG 20 BG 30 BG 38 ValueLine The BG ValueLine is a fully dedicated Kelly drilling rig. 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 34

  35. Slide 35: Product range: Drilling rigs (BG series) – PremiumLine

    D Equipment Product range: Drilling rigs (BG series) – PremiumLine BG 20 BG 42 BG 50 PremiumLine Multi-purpose drilling rigs for various applications of foundation works. 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 35

  36. Slide 36: Product range: Duty-cycle cranes (MC series)

    D Equipment Product range: Duty-cycle cranes (MC series) MC 64 MC 96 MC 128 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 36

  37. Slide 37: Product range: Deep Drilling (PR series)

    D Equipment Product range: Deep Drilling (PR series) PR 440 M2 In order to meet the upcoming PR 200 market challenges, out-of-the-box thinking is necessary and therefore customized rig solutions are of growing importance. Based on more than 40 years of experience in engineering and manufacturing of

  38. Slide 38: Product range: Underwater Drilling

    D Equipment Product range: Underwater Drilling 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 38

  39. Slide 39: Resources Segment: The three competence areas

    E Resources Segment The three competence areas Materials Exploration & Mining Environment Services Full-line provider for  Production drilling  Disposal of polluted areas materials in the field of (for example: water wells)  Cleaning of process water  well construction  Exploration drilling and

  40. Slide 40: Resources: Materials

    E Resources Materials Amman, Jordan – Drilling works and installation of production wells 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 40

  41. Slide 41: Resources: Exploration and Mining Services

    E Resources Exploration and Mining Services Canada – Diavik Mine Oil drilling rig of Site Goup Tulves, South Tyrol 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 41

  42. Slide 42: Resources: Environment

    E Resources Environment Oman – Reed Bed Water Treatment Plant 15-05-13 IR-Presentation_Q1_2015 © BAUER AG, D-86529 Schrobenhausen 42

  43. Slide 43: Market environment – Germany

    F Market environment – Germany German construction market Absolute Figures Change in % 2014 West Germany East Germany December 2014 West- East- 2014/ 2013/ Jan-Dec 2014/ 2013/ Jan-Dec Germany Germany 1995 2012 2014/2013 1995 2012 2014/2013 Employees in 1000 574.6 182.8 -38.2 2.2 0.3 -62.1 -0.5 -0.3

  44. Slide 44: BAUER share: Facts & Figures

    G BAUER share Facts & Figures Share performance (07/2014 – 05/2015)  Listed on Frankfurt stock exchange, Prime Standard, since July 4, 2006  Share capital EUR 73,001,420.45  Shares issued 17,131,000  Issue price EUR 16.75 Shareholder structure in EUR 2011 2012 2013 2014 2015 Earnings per share 1

  45. Slide 45: BAUER share: Dividend policy

    G BAUER share Dividend policy Dividend payment Dividend policy founded on a reasonable in EUR per share balance between shareholders and company 1.20  fair participation of shareholders 1.00 1.00  continuity over the years 0.90  safeguarding of the equity base All shareholders shall participate i

  46. Slide 46: Key Figures Time Line FY 2008 – Q1 2015

    H Key Figures Time Line FY 2008 – Q1 2015 Total Group Revenues 2008 2009 2010 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 (in EUR million) BAUER Group 1.527,2 1.275,8 1.304,0 1.371,8 340,0 361,6 361,7 372,5 1.435,8 330,7 390,7 382,6 400,2 1.504,2

  47. Slide 47: BAUER Aktiengesellschaft: Financial calendar 2015

    BAUER Aktiengesellschaft Financial calendar 2015 Publication Annual Report 2014 April 10, 2015 Annual Press Conference April 10, 2015 Analyst Conference April 10, 2015 Annual General Meeting June 25, 2015 Interim Report to March 31, 2015 May 13, 2015 Half-Year Interim Report to June 30, 2015 August

  48. Slide 48: 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

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