Rosenbauer International Ag · VIE:ROS
Rosenbauer International — H1 2021 Earnings Presentation
33 slides from Rosenbauer International's earnings presentation, Aug 13, 2021
Slide 1: Investor & Analyst Presentation H1 2021 Financial Figures
Rosenbauer Group Rosenbauer Group Investor & Analyst Presentation I H1 2021 Financial Figures Sebastian Wolf I CFO Person Date August 13, 2021
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 1. Rosenbauer Group at a glance 2. H1 2021 financial figures 3. Outlook Q&A
Slide 4: Rosenbauer Group at a glance
Rosenbauer Group at a glance
Slide 5: Equity story
Equity story GLOBAL MARKET LEADER INNOVATION LEADER ■ System provider of fire-fighting equipment and ■ High R&D expenditures, Rosenbauer Group holds preventive fire protection around 220 patents ■ Globally leading ■ Pioneer in producer of fire-fighting sustainability vehicles technologies ■ 14.5% RB
Slide 6: Global market leader 2019/20
Global market leader 2019/20 ■ 2019 global firefighting vehicle market volume: 5,050 Mio. € (2018: 4,810 Mio. €) ■ Approx. 20,600 vehicles (2018: 19,500) ■ 2019 value-based market share in vehicles: 14.5% (2018: 14.3%) ■ Buyers are mainly public institutions Ranking of fire fighting manufacturers 20
Slide 7: Rosenbauer pushes electrification of vehicle fleet
Rosenbauer pushes electrification of vehicle fleet ■ Rosenbauer Group evaluates further model series for electrification and makes it a development focus ■ With the „apparatus vehicle logistics“ on Volvo FL Electric there is already one fire service appliance on a electric commercial chassis ■ RT-te
Slide 8: Personal protective equipment with new product launches (1/2): HEROS H30
Personal protective equipment with new product launches (1/2): HEROS H30 ■ Successor of HEROS-smart; Type A half shell helmet ■ Tested and certified firefighter helmet for all kinds of deployment (EN 443, EN 16471, EN 16473) ■ Tool-free adjustment to all head sizes and head shapes (sizes 49- 67 with
Slide 9: Personal protective equipment with new product launches (2/2): BOROS
Personal protective equipment with new product launches (2/2): BOROS BOROS-B4 BOROS-B1 Quick lock system Slip boot Multi-zone lacing Convenience insole, washable Convenience insole, washable Steel anti-proferation protection Steel anti-proferation protection Steel toe cap Steel toe cap Minimum weigh
Slide 10: H1 2021 financial figures
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Slide 11: Rosenbauer Group highlights
Rosenbauer Group highlights ■ The Rosenbauer Group generates € 448.1 million in revenues in the first half-year 2021, which is still at a very high level ■ MENA area and CEEU area expand their business volumes by 24.8 % and 14.2 % respectively ■ Quick start of the global economy puts pressure on sup
Slide 12: Adjusted EBIT H1 2021
Adjusted EBIT H1 2021 € million 9.9 9.4 -8.0 +8.5 EBIT International Inefficiencies and Adjusted H1 2021 COVID-19 material EBIT support price increases H1 2021 Investor Presentation I 12
Slide 13: COVID-19 pandemic: Risks for the Rosenbauer Group
COVID-19 pandemic: Risks for the Rosenbauer Group Risks Customers ■ Single delays of vehicle handovers ■ In Q4 2021 ‘campaign’ production will be introduced temporarily at the PANTHER line in Leonding, order intake is currently shaped by large orders Supply chain ■ Poor availability of parts, late d
Slide 14: Revenues and EBIT quarterly
Revenues and EBIT quarterly € million 50 357.4 363.6 45 330.3 40 36.8 255.9 35 31.8 32.5 241.9 232.9 218.8 219.9 225.1 30 199.3 206.2 190.3 25 175.8 20.0 162.4 20 15 8.9 9.9 10 8.9 7.0 4.3 5 2.1 3.1 1.1 1.1 0.4 0 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/19 Q3/19 Q4/19 Q1/20 Q2/20 Q3/20 Q4/20 Q1/21 Q2/21 Rev
Slide 15: Key financial figures
Key financial figures in € million H1 2019 H1 2020 H1 2021 Change Revenues 394.6 458.0 448.1 -2.2% Operating performance 456.6 477.4 477.9 +0.1% EBIT 5.2 5.4 9.3 +71.1% EBIT margin 1.3% 1.2% 2.1% - EBT 2.0 2.5 6.7 - Net profit for the period 1.6 2.2 5.5 - Cash flow from operating -115.7 -34.0 -27.7
Slide 16: Revenues development
Revenues development € million -2.2% ■ Revenues of +19.7 -13.3 +9.6 -1.5 -21.2 Rosenbauer Group 458.0 -3.2 448.1 still on a very high level in 1-6/2021 ■ MENA area and CEEU area show strong growth ■ Considerable catch- up process in Q2 H1 2020 CEEU CEEU NISA MENA APAC APAC NOMA NOMA PFP H1 2021 Area
Slide 17: EBIT development
EBIT development € million +72.2% +1.9 +0.0 9.3 ■ One-off effect improves EBIT in +2.7 +3.7 1-6/2021 ■ APAC area, CEEU 5.4 area and NOMA -1.9 area with biggest increases -2.5 ■ Quick start of economy leads to supply chain disruptions and growing work in H1 2020 CEEU CEEU NISA MENA APAC APAC NOMA NOM
Slide 18: Investments
Investments CAPEX, depreciation and amortization € million 9.4 9.4 8.4 8.6 8.2 8.3 7.7 7.8 6.8 7.0 H1 2017 H1 2018 H1 2019 H1 2020 H1 2021 Investments Depreciation and amortization ■ Improvement of efficiency at plant I, Leonding ■ Expansion of production site in Radgona ■ Next steps of SAP S4/Hana
Slide 19: Statement of financial position – key figures
Statement of financial position – key figures Change in € million 06/30/2020 12/31/2020 06/30/2021 H1 2021 vs H1 2020 Total assets 989.5 909.5 961.0 -2.9% Equity ratio 25.2% 31.6% 28.8% - Capital employed (ø) 696.7 656.4 653.4 -6.2% ROCE 0.8% 8.8% 1.4% - ROE 1.0% 19.0% 2.4% - Net debt 393.4 289.3 34
Slide 20: Trade working capital and financing
Trade working capital and financing Trade Working Capital TRADE WORKING CAPITAL Financing FINANCING € million € million € million € million 80% 1,044.2 1,044.2 396.8 393.4 978.1 400 190,00% 1000 345.3 350 170,00% 52.6% 60% 175.6% 48.4% 300 158.1% 277.1 750 45.8% 150,00% 248.9 250 225.9 514.9 505.6 4
Slide 21: Project CCC Optimization
Project „CCC Optimization“ Reduction of cash conversion cycle (day) and trade working capital (€ million) 167 159 505.6 478.0 74 71 50 44 177 167 15 18 -6% -5% DIO DSO DDO DPO H1 2020 H1 2021 CCC TWC * Cash Conversion Cycle = Days Inventory Outstanding + Days Sales Outstanding – Days Downpayments Ou
Slide 22: Outlook
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Slide 23: Order intake / backlog
Order intake / backlog Order intake/backlog Order intake Q2 2021 € million by Area (Q1 2020) 1,229.4 1,118.2 1,092.0 PFP 1,030.5 3% (3%) APAC 12% (7%) 812.0 CEEU 37% (36%) 571.1 525.4 € 488.2m 458.3 455.3 488.2 NOMA 24% (28%) NISA 13% (11%) MENA 11% (15%) 1-6/2017 1-6/2018 1-6/2019 1-6/2020 1-6/2021
Slide 24: Outlook
Outlook ■ The International Monetary Fund (IMF) has recently confirmed its outlook for 2021 projecting that the global economy would grow by 6% in the current year. This is based on concurrently revised regional growth forecasts, with outlooks for developing and emerging economies being lowered and
Slide 25: Thank you for your attention! Q&A
Thank you for your attention! Q&A
Slide 26: Appendix
Appendix Investor Presentation I 26
Slide 27: Executive Board and employee figures
Executive Board and employee figures Dieter Siegel Sebastian Wolf Andreas Zeller Daniel Tomaschko CEO CFO CSO CTO Corporate Development I Human Audit I Controlling I Accounting/Tax I Area CEEU I Area NISA I Area APAC I Supply Chain Management I Central Resources I Strategy I Innovation & Treasury I
Slide 28: Selected megatrends driving the fire-fighting industry
Selected megatrends driving the fire- fighting industry Neo-ecology / Mobility Urbanization Silver society / Gender shift ■ Global warming ■ Since 2007 more than half of the ■ Demographic development will ■ Higher scale of devastation from world population lives in cities significantly influence the
Slide 29: Worldwide network of production, service and sales locations
Worldwide network of production, service and sales locations EUROPE AUSTRIA Leonding Neidling Graz Telfs FRANCE Chambéry Meyzieu GERMANY Karlsruhe Luckenwalde Mogendorf and Gladbeck Bad Abbach-Lengfeld Viersen ITALY Rovereto Andrian POLAND Warsaw AMERICA MIDDLE EAST / ASIA/ RUSSIA Moscow Lyons, Sout
Slide 30: Leading system provider for fire protection
Leading system provider for fire protection (Product segments and % of group revenues; as of Dec. 31 2020) Municipal vehicles 42% ARFF Fire & Safety vehicles Equipment Vehicles 78% 15% Aerials Customer Service 14% 7% Industrial Preventive Fire 8% Protection vehicles 7% 3% 4% sonstige Umsätze Investo
Slide 31: Balance sheet structure (in € million)
Balance sheet structure (in € million) 961.0 989.5 989.5 961.0 900.8 900.8 53.2 58.7 Provisions Assets 219.5 53.9 231.8 203.6 260.2 260.1 207.2 291.7 Liabilities and 275.2 231.1 248.9 other debt 225.9 277.1 Receivables and other assets Equity 454.0 478.3 466.1 427.2 413.8 365.1 Inventories Interest-
Slide 32: Rosenbauer share
Rosenbauer share Investor FR 6% 1-6/2020 1-6/2021 Highest price in € 45.4 58.0 BVG * Free float** 51% 43% Lowest price in € 23.0 36.6 Closing share price in € 32.7 53.2 Market capitalization in € million 222.4 361.8 * Rosenbauer Beteiligungsverwaltung GmbH ** The non-voting right registered shares a
Slide 33: Financial calendar
Financial calendar August 13, 2021 Publication of the Half-year Financial Report 2021 November 16, 2021 Publication of the Interim Statement Q3/2021 Investor Presentation I 33
Rosenbauer International — H1 2021 Earnings Presentation on 6ix