BAUER Aktiengesellschaft · HAM:B5A0

BAUER Aktiengesellschaft — 9M 2011 Earnings Presentation

47 slides from BAUER Aktiengesellschaft's earnings presentation, Nov 14, 2011

  1. Slide 1: BAUER Aktiengesellschaft Group Presentation First Nine Months 2011

    BAUER Aktiengesellschaft Group Presentation First nine month 2011 Abu Dhabi, UAE – Foundation works for Presidential Palace 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen

  2. Slide 2: Key Figures 9M 2011

    Key Figures 9M 2011 Total Group revenues (in EUR million) Net profit (in EUR million) 1,527 1,276 1,304 963 1,009 107.5 42.0 39.8 21.0 14.2 1,600 120 1,200 90 800 60 400 30 0 0 2008 2009 2010 9M 2010 9M 2011 2008 2009 2010 9M 2010 9M 2011 Orders in hand (in EUR million) Employees (in average) 671.6

  3. Slide 3: Mission & Strategy

    Mission & Strategy Our mission Services, equipment & products dealing with ground and groundwater Our strategy  The world is our market.  World market leadership for foundation technology.  Powerful development of drilling applications and related services for resources, water and energy markets.

  4. Slide 4: Key Figures 9M 2011

    Key Figures 9M 2011 9M 2010 9M 2011 ∆ 9M in EUR million in EUR million in % Total Group revenues, of which 962.6 1,008.9 4.8 % - Germany 250.0 263.6 5.4 % - International 712.6 745.3 4.6 % - Construction 469.3 415.7 - 11.4 % - Equipment 412.3 487.1 18.1 % - Resources 124.6 162.7 30.6 % - Consolidati

  5. Slide 5: Contents

    Contents 1 Overview BAUER Group p. 6 2 BAUER market environment p. 13 3 Regional breakdown of Revenues p. 15 4 Financials p. 17 5 Guidance 2011 p. 25 6 Appendix p. 26 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 5

  6. Slide 6: BAUER Group: The three segments

    1 BAUER Group The three segments Construction Equipment  Target ~ 40 % of  Target ~ 40 % of total Group revenues total Group revenues  Global provider for  Market leader in specialist foundation specialist foundation engineering and equipment services in the field of  New products for infrastru

  7. Slide 7: What is specialist foundation?

    1 What is specialist foundation? Building an excavation pit Supporting Wall Ground Water Underpinning Injection Injection Anchor Pile Foundation Sealing Slab 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 7

  8. Slide 8: What is specialist foundation used for?

    1 What is specialist foundation used for? Applications for projects Buildings Infrastructure Water – Energy Industry Foundations Excavation pits Cut-off walls Ground improvement 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 8

  9. Slide 9: Resources Segment

    1 Resources Segment The three divisions Materials Exploration & Mining Environment about 38 % of revenues* Services about 36 % of revenues* about 26 % of revenues* Full-line provider for  Production drilling  Disposal of polluted areas materials in the field of (for example: water wells)  Cleanin

  10. Slide 10: Total Group Revenues

    1 Total Group Revenues Longstanding healthy business development in EUR million (segment after decucting Other/Consolidation) Total 1.304 Financial crisis Resources 172 Equipment 533 Far East crisis Construction German reunification Overseas 424 Construction Domestic 175 Note: 2000 – 2002 based on H

  11. Slide 11: Worldwide network

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

  12. Slide 12: BAUER Group: Strengths & Chances

    1 BAUER Group Strengths & Chances Strengths  Strategic business model with three forward-looking segments providing high level of synergies.  Global network organisation with flexible, decentralized management.  World market leader in foundation equipment with innovative strength in enhancing exi

  13. Slide 13: World construction markets

    2 World construction markets Bauer market potential Western Europe: Eastern Europe: declining markets, Germany slowly positive development, weak for big projects especially Russia + + - o - USA / Canada: Far East: stimulus packages, positive development public demand, power plants, dams, etc. + + in

  14. Slide 14: Market environment: Orders & Currency risks

    2 Market environment Orders & Currency risks Order backlog (Orders in hand) Currency Risks 9M 2011 Reach in months Construction in relation to total  Project size EUR 100,000 up to EUR 20 million Group revenues full year 2010  ~ 50 / 50 infrastructure / large industrial buildings  ~ 600 projects

  15. Slide 15: Regional breakdown Total Group revenues Jan-Sep 2011

    3 Regional breakdown Total Group revenues Jan – Sep 2011 Germany 264 (26 %) in EUR million Total 1,009 Africa 51 (5 %) Americas 133 (13 %) Asia-Pacific, Far East & Australia Full year 2010 206 (20 %) in EUR million Germany 339 (26 %) Total 1,304 Africa 70 (5 %) Americas 155 (12 %) Asia-Pacific, Far

  16. Slide 16: Regional breakdown Construction, Equipment, Resources

    3 Regional breakdown Construction, Equipment, Resources Jan – Sep 2011 Construction segment Equipment segment Resources segment in EUR million Total 407 Total 440 Total 162 Germany 112 (27 %) Germany 74 (17 %) Germany 78 (48 %) Africa 27 (7 %) Africa 10 (2 %) Africa 14 (9 %) Americas 50 (12 %) Ameri

  17. Slide 17: Financials: Revenues, earnings & orders

    4 Financials Revenues, earnings & orders Revenues (in EUR million) Orders in hand (in EUR million) Total Group revenues Sales revenues 1,527 1,600 800 740 1,291 1,276 1,304 672 1,132 615 588 1,200 600 1,096 1,009 509 963 844 875 800 400 400 200 0 0 2008 2009 2010 9M 2010 9M 2011 2008 2009 2010 9M 20

  18. Slide 18: Working capital needs & net debt

    4 Financials Working capital needs & net debt Net working capital (in EUR million) Bauer’s business model with its three segments requires considerably more working capital than 640 other companies in construction markets. 480  Changes during the year: 320 - Levels in balance sheet and income state

  19. Slide 19: Working capital needs & cash flow

    4 Financials Working capital needs & cash flow Building construction  Construction segment: EUR Positive cash contribution - Construction contracts with short duration need approx. 2 - 3 months pre-financing (no advance payments, no front-loading of prices possible, comparably long time needed for

  20. Slide 20: Revenues Q3 / 9M 2011

    4 Financials Revenues Q3 / 9M 2011 in EUR '000 Q3 2010 Q3 2011 ∆ Q3 in % 9M 2010 9M 2011 ∆ 9M in % FY 2010 Total Group revenues 369.730 369.076 -0,2% 962.615 1.008.941 4,8% 1.304.017 Sales revenues, Construction 155.418 118.737 -23,6% 410.973 360.130 -12,4% 505.758 Sales revenues, Equipment 118.866

  21. Slide 21: Earnings Q3 / 9M 2011

    4 Financials Earnings Q3 / 9M 2011 in EUR '000 Q3 2010 Q3 2011 ∆ Q3 in % 9M 2010 9M 2011 ∆ 9M in % FY 2010 EBITDA 46.276 44.151 -4,6% 110.178 112.482 2,1% 165.517 Margin (a) 14,7% 13,6% n/a 13,0% 12,9% n/a 14,6% EBIT 28.583 23.208 -18,8% 55.828 51.509 -7,7% 88.355 EBIT margin (a) 9,1% 7,1% n/a 6,6%

  22. Slide 22: Income statement September 30, 2011

    4 Financials Income statement September 30, 2011 in EUR '000 Sept 30, 2010 Sept 30, 2011 ∆ 9M in % Dec 31, 2010 Consolidated revenues (P&L) 928.946 978.257 5,3% 1.255.600 Sales revenues (P&L) 844.442 874.869 3,6% 1.131.673 Material costs -462.915 -493.725 6,7% -626.952 Personnel costs -212.543 -222.

  23. Slide 23: Balance sheet September 30, 2011

    4 Financials Balance sheet September 30, 2011 in EUR '000 Sept 30, 2010 Sept 30, 2011 ∆ 9M in % Dec 31, 2010 Assets 1.373.263 1.502.575 9,4% 1.337.749 Intangible assets 21.854 24.132 10,4% 23.261 Property, plant and equipment 422.776 444.988 5,3% 441.737 Long term financial assets 14.352 11.265 -21,

  24. Slide 24: Cash flow statement 9M 2011

    4 Financials Cash flow statement 9M 2011 in EUR '000 9M 2010 9M 2011 ∆ 9M in % FY 2010 Cash flow from operating activities -27.901 -58.793 n/a 45.342 Cash flow from investing activities -35.131 -50.977 n/a -75.518 Cash flow from financing activities 63.488 115.423 81,8% 17.850 Free Cash Flow -63.032

  25. Slide 25: Guidance 2011

    5 Guidance 2011 Top-line growth with higher profitability expected 2010e 2010 final 2011e ~ 2009 level Total Group Revenues (1.276 million EUR) 1.304 EUR million ~ 1.35 EUR billion EBIT not guided 88.4 EUR million ~ 80 EUR million Net profit 35 – 40 EUR million 39.8 EUR million > 30 EUR million Inte

  26. Slide 26: Appendix

    Appendix A History of Bauer p. 27 B Construction projects p. 29 C Equipment programme p. 34 D Resources projects p. 39 E Market environment Germany p. 42 F BAUER share p. 43 G Key Figures Time Line p. 45 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 26

  27. Slide 27: History of Bauer

    A History of Bauer Two centuries of experience 1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2010 1790 1900-1970 1980-1990 2000-2010 End of 1970’s: Early 1980’s: 4. Jul 2006: FY 2010: Start of Selling of equipment to IPO

  28. Slide 28: Bauer's home base

    A Bauer’s home base Headquarters and plant Schrobenhausen, Germany 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 28

  29. Slide 29: Construction: New Brunswick, Canada

    B Construction New Brunswick, Canada – Bridge foundation Route 1 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 29

  30. Slide 30: Construction: Vienna, Austria

    B Construction Vienna, Austria – New University of Economics 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 30

  31. Slide 31: Construction: Herbert Hoover Dike, Florida

    B Construction Florida/Okeechobee, USA – Remediation of Herbert Hoover Dike 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 31

  32. Slide 32: Construction: Munich Tunnel for Mittlerer Ring

    B Construction Munich, Germany – Tunnel for Mittlerer Ring 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 32

  33. Slide 33: Construction: Bielefeld University

    B Construction Bielefeld, Germany – Foundation works at the University 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 33

  34. Slide 34: Equipment: In-House Exhibition 2011

    C Equipment BAUER Maschinen Group In-House Exhibition 2011 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 34

  35. Slide 35: Product range: BG-systems

    C Equipment Product range: BG-systems (BG 12 H – BG 50) Small-sized (BG 12 H – BG 18 H) Medium-sized (BG 20 H – BG 28) Large-sized (BG 36 – BG 50) BG 12 H BG 15 H BG 18 H BG 20 H BG 24 H BG 28 BG 30 BG 36 BG 40 BG 50 125 kNm* 151 kNm* 177 kNm* 200 kNm* 222 kNm* 269 kNm* 295 kNm* 367 kNm* 390 kNm* 46

  36. Slide 36: Product range: Foundation Cranes

    C Equipment Product range: Foundation Cranes MC 32 MC 64 MC 128 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 36

  37. Slide 37: Product range: Deep Drilling

    C Equipment Product range: Deep Drilling RB 50 TBA 200 TBA 300 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 37

  38. Slide 38: Equipment: Other products

    C Equipment Other products (examples: geothermal drilling, double rotary head drilling, pile driving) KR 707 RG 25 S BG 24 H 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 38

  39. Slide 39: Resources: Materials Division

    D Resources Materials Division Amman, Jordan – Drilling works and installation of production wells 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 39

  40. Slide 40: Resources: Exploration and Mining Services Division

    D Resources Exploration and Mining Services Division Canada – Diavik Mine Jordan - Oil drilling rig Canada - Highland Valley Copper Mine 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 40

  41. Slide 41: Resources: Environment Division

    D Resources Environment Division One third of total area (6 km2) visible Oman – Reed Bed Water Treatment Plant 11-11-14 IR-Presentation_9M2011 © BAUER AG, D-86529 Schrobenhausen 41

  42. Slide 42: Market environment – Germany

    E Market environment – Germany German construction market Absolute Figures Change in % 2010 West Germany East Germany August 2011 West- East- 2010/ 2010/ Jan-Aug 2010/ 2010/ Jan-Aug Germany Germany 1994 2009 2010/11 1994 2009 2010/11 Employees in 1000 534,8 181,0 -45,8 1,7 0,2 -59,5 1,2 -0,1 Revenue

  43. Slide 43: BAUER share: Facts & Figures

    F BAUER share Facts & Figures  Listed on Frankfurt stock exchange, Share performance (2011 – YTD 2011) Prime Standard since July 4, 2006  Shares issued 17,131,000 SDAX  Issue price EUR 16.75 BAUER AG DAX  Listed in SDAX (MDAX from 22.09.2008 to 19.09.2010) Trading volume  Earnings per share 201

  44. Slide 44: BAUER share: Dividend policy

    F BAUER share Dividend policy Dividend payment (in EUR per share) Dividend policy founded on a reasonable 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

  45. Slide 45: Key Figures Time Line Q3 2008 – Q3 2011

    G Key Figures Time Line Q3 2008 – Q3 2011 Total Group Revenues Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 (in EUR million) BAUER Group 392,3 415,4 1.527,2 375,3 305,7 263,5 331,3 1.275,8 261,0 331,9 369,7 341,4 1.304,0 307,5 332,4 369,1 Construction

  46. Slide 46: BAUER Aktiengesellschaft: Financial calendar 2011

    BAUER Aktiengesellschaft Financial calendar 2011 Publication Annual Report 2010 April 15, 2011 Annual Press Conference April 15, 2011 Analyst Conference April 15, 2011 Annual General Meeting June 30, 2011 Interim Report to March 31, 2011 May 13, 2011 Half-Year Interim Report to June 30, 2011 August

  47. Slide 47: 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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