Strabag Se · VIE:STR
Strabag — H1 2020 Earnings Presentation
12 slides from Strabag's earnings presentation, Aug 31, 2020
Slide 1: STRABAG SE January–June 2020 Results
STRABAG SE JANUARY–JUNE 2020 RESULTS 31 AUGUST 2020
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 fell by 10%, order backlog reached new record high
OUTPUT VOLUME FELL BY 10%, ORDER BACKLOG REACHED NEW RECORD HIGH OUTPUT VOLUME (€M) 20,000 ● Decrease due to three factors 16,618 Loss of German key account in the property and facility services business mid-2019 -10% 7,507 Coronavirus: temporary halt to construction 6,720 activity in Austria
Slide 4: Slight growth of EBITDA, but higher depreciation leads to lower EBIT
SLIGHT GROWTH OF EBITDA, BUT HIGHER DEPRECIATION LEADS TO LOWER EBIT EBITDA (€M) 1,500 ● Small growth in EBITDA of 2% 1,113 2% 300 295 0 6M/20 6M/19 2019 EBIT (€M) ● Depreciation and amortisation up by 9% as a 700 603 result of higher investments in the previous year ● Decline of EBIT attributable t
Slide 5: Net income after minorities after six months still in the negative territory
NET INCOME AFTER MINORITIES AFTER SIX MONTHS STILL IN THE NEGATIVE TERRITORY NET INCOME AFTER MINORITIES (€M) EARNINGS PER SHARE (€) 400 372 4 3.62 n.m. n.m. 11 0.10 -1 -0.01 -100 -1 6M/20 6M/19 2019 6M/20 6M/19 2019 ● Net interest income at € -13 million after € -20 million in 6M/19; higher negativ
Slide 6: Strong balance sheet with a high equity ratio
STRONG BALANCE SHEET WITH A HIGH EQUITY RATIO ASSETS1 EQUITY AND LIABILITIES1 (€m) 6M/2020 2019 (€m) 6M/2020 2019 Intangible assets 489 491 Share capital 110 110 Rights from concession Capital reserves 2,315 2,315 arrangements 521 530 Retained earnings 1,338 1,397 PP&E & investment property 2,554 2,
Slide 7: Lower working capital increase shifts cash flow from operating activities to positive
LOWER WORKING CAPITAL INCREASE SHIFTS CASH FLOW FROM OPERATING ACTIVITIES TO POSITIVE (€m) 6M/20 ∆% 6M/19 Cash – beginning of period 2,460 3 2,384 Cash flow from earnings 239 4 229 ∆ Working Capital -206 62 -550 Cash flow from operating activities 33 n.m. -321 Cash flow from investing activities -18
Slide 8: North + West: EBIT already in positive territory
NORTH + WEST: EBIT ALREADY IN POSITIVE TERRITORY KEY INDICATORS COMMENTS (€m) 6M/20 Δ% 6M/19 ● Output volume almost stable, trends mixed Output volume 3,531 -1 3,552 ● EBIT unlike 6M/2019 already positive Revenue 3,256 0 3,265 Lower negative impact large projects in Poland Order backlog 9,352 1 9,
Slide 9: South + East impacted by COVID-19 on output level
SOUTH + EAST IMPACTED BY COVID-19 ON OUTPUT LEVEL KEY INDICATORS COMMENTS (€m) 6M/20 Δ% 6M/19 ● Output volume fell by 9% as a result of temporary suspension of construction activity in Austria Output volume 1,891 -9 2,068 ● EBIT returned to positive territory – absence of one-time Revenue 1,833 -6 1
Slide 10: International + Special Divisions: COVID-19 restrictions in tunnelling in Chile
INTERNATIONAL + SPECIAL DIVISIONS: COVID-19- RESTRICTIONS IN TUNNELLING IN CHILE KEY INDICATORS COMMENTS (€m) 6M/20 Δ% 6M/19 ● Output volume lower by 33% due to loss of a key account in 2019 in property and facility services as well as COVID- Output volume 1,233 -33 1,832 19-related restriction on l
Slide 11: Outlook 2020 upgraded
OUTLOOK 2020 UPGRADED ● Output volume 2020 should reach around € 15 billion; previous estimate of € 14.4 billion ● EBIT margin target (EBIT/revenue) 2020 remains at ≥ 3,5% ● CAPEX (cash flow from investing activities) forecast to be below € 450 million 11 6M/2020, August 2020
Slide 12: Your questions, please
YOUR QUESTIONS, PLEASE 31 AUGUST 2020