Slide 1: STRABAG SE January–March 2014 Results
STRABAG SE JANUARY–MARCH 2014 RESULTS 28 MAY 2014
Slide 2: Disclaimer
DISCLAIMER This presentation is made by STRABAG SE (the "Company") solely for This presentation contains forward-looking statements relating to the use at investor meetings and is furnished to you solely for your business, financial performance and results of the Company and/or the information. indu
Slide 3: Output volume grows by 10% – weather-related declines last year
OUTPUT VOLUME GROWS BY 10 % – WEATHER-RELATED DECLINES LAST YEAR OUTPUT VOLUME (€M) 20000 ● Unfavourable weather conditions had restricted the construction activity in the previous year 13,573 ● Return to usual levels of output volume 10% ● Increases especially in Germany and Austria 2,344 2,135 0 Q
Slide 4: EBITDA and EBIT less deeply in negative territory
EBITDA AND EBIT LESS DEEPLY IN – AS USUAL IN Q1 – NEGATIVE TERRITORY EBITDA (€M) 750 695 ● Higher revenue leads to higher EBITDA; higher share of fixed costs covered 10% -70 -78 Q1/14 Q1/13 2013 -150 EBIT (€M) 450 ● Depreciation and amortisation fell by 1 % 262 -164 -172 5% 0 Q1/14 Q1/13 2013 -450 Q
Slide 5: EBIT improved in all segments
EBIT IMPROVED IN ALL SEGMENTS NORTH + WEST (€M) SOUTH + EAST (€M) 300 300 12% 5% 138 73 -75 -86 -72 -76 Q1/14 Q1/13 2013 Q1/14 Q1/13 2013 -200 -200 INTERNATIONAL + SPECIAL DIVISIONS (€M) TOTAL GROUP (€M) 300 300 262 21% 5% 70 -21 -27 -164 -172 Q1/14 Q1/13 2013 Q1/14 Q1/13 2013 -200 -200 Segment Othe
Slide 6: Earnings per share at € -1.29 after € -1.36
EARNINGS PER SHARE AT € -1.29 AFTER € -1.36 (5%) NET INCOME AFTER MINORITIES (€M) EARNINGS PER SHARE (€) 200 2 114 1.11 6% 5% -132 -140 -1.29 -1.36 Q1/14 Q1/13 2013 Q1/14 Q1/13 2013 0.5% -200 -2 ● Interest income with € -4.04 m nearly balanced ● Income tax again in positive territory ● Minority shar
Slide 7: Equity ratio remains high at 31%, low net debt
EQUITY RATIO REMAINS HIGH AT 31%, LOW NET DEBT OF €M 98 ASSETS(1) LIABILITIES AND EQUITY(1) (€m) Q1/14 2013 (€m) Q1/14 2013 Intangible assets 500 502 Share capital 114 114 PP&E & investment property 2,137 2,183 Capital reserves 2,311 2,311 Associated companies 364 372 Retained earnings 337 492 Other
Slide 8: All cash flows improved
ALL CASH FLOWS IMPROVED (€m) Q1/14 ∆% Q1/13 Cash – beginning of period 1,685 25 1,351 Cash flow from profits -98 2 -101 ∆ Working Capital -19 83 -114 Cash flow from operating activities -117 46 -215 Cash flow from investing activities -48 29 -68 Cash flow from financing activities -18 18 -22 Net cha
Slide 9: North + West: positive development in output volume and EBIT
NORTH + WEST: POSITIVE DEVELOPMENT IN OUTPUT VOLUME AND EBIT KEY INDICATORS COMMENTS (€m) Q1/14 ∆% Q1/13 ● Output volume: very positive development thanks to mild winter Output volume 1,098 15 952 1,048 ● German transportation infrastructures business up 30%; Revenue 16 902 Poland and Denmark proved
Slide 10: South + East: Slovakia and Hungary in an upswing
SOUTH + EAST: SLOVAKIA AND HUNGARY IN AN UPSWING KEY INDICATORS COMMENTS (€m) Q1/14 ∆% Q1/13 ● Weather encouraged construction activity in Output volume 625 4 600 Austria; Slovakia and Hungary profited from 571 infrastructure contracts Revenue 5 546 Order backlog 4,636 6 4,357 ● Better fixed costs c
Slide 11: International + Special Divisions: increasingly international
INTERNATIONAL + SPECIAL DIVISIONS: INCREASINGLY INTERNATIONAL KEY INDICATORS COMMENTS (€m) Q1/14 ∆% Q1/13 ● Growth in output volume in Germany & Austria Output volume 595 9 546 ● EBIT improved 21% due to volatile business Revenue 541 7 508 ● Order backlog (+4%) enhanced by: Order backlog 4,137 4 3,9
Slide 12: Outlook 2014 reiterated
OUTLOOK 2014 REITERATED ● Output volume stable at € 13.6 bn expected − Moving up of construction services into the first quarter that would otherwise have been performed in subsequent quarters? ● EBIT forecast: ≥ € 260 m − 2013: € 262 m Q1 2014, May 2014 1 Page 12
Slide 13: Q&A with Thomas Birtel, CEO STRABAG SE
Q&A WITH THOMAS BIRTEL, CEO STRABAG SE 28 MAY 2014