BAUER Aktiengesellschaft · HAM:B5A0

BAUER Aktiengesellschaft — Bauer — 9M 2013 Earnings Presentation

47 slides from BAUER Aktiengesellschaft's earnings presentation, Nov 14, 2013

  1. Slide 1: BAUER AG Group Presentation First nine month 2013

    BAUER AG Group Presentation First nine month 2013 Zerben lock – Zerben, Germany 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen

  2. Slide 2: Key Figures 9M 2013

    Key Figures 9M 2013 Total Group revenues Net profit in EUR million in EUR million 1,304 1,372 1,446 1,063 1,110 39.8 34.1 25.8 6.6 -21.4 1,600 48 36 1,200 24 800 12 0 400 -12 0 -24 2010 2011 2012 9M 2012 9M 2013 2010 2011 2012* 9M 2012* 9M 2013 Orders in hand Employees in EUR million in average 614.

  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 2013 Main topics

    Key Figures 9M 2013 Main topics  Total Group revenues with EUR 1,109.5 million were 4,4 % above previous year (EUR 1,063.2 million).  The net loss for the first nine month with EUR 21.4 million was well down against the previous year comparative (EUR +6.6 million) because of some negative one-off

  5. Slide 5: Key Figures 9M 2013

    Key Figures 9M 2013 9M 2012* 9M 2013 ∆ 9M in EUR million in EUR million in % Total Group revenues, of which 1,063.2 1,109.5 4.4 % - Germany 280.9 340.0 21.0 % - International 782.3 769.5 -1.6 % - Construction 484.0 529.7 9.4 % - Equipment 444.2 473.6 6.6 % - Resources 191.3 146.9 -23.2 % - Consolida

  6. Slide 6: Contents

    Contents 1 Overview BAUER Group p. 7 2 BAUER market environment p. 14 3 Regional breakdown of revenues p. 17 4 Financials p. 19 5 Guidance 2013 p. 26 6 Appendix p. 27 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 6

  7. Slide 7: BAUER Group: The three segments

    1 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

  8. Slide 8: 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 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 8

  9. Slide 9: 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 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 9

  10. Slide 10: Resources Segment

    1 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

  11. Slide 11: Total Group Revenues

    1 Total Group Revenues Longstanding healthy business development in EUR million (segment after decucting Other/Consolidation) Total 1,446 Financial crisis Resources 260 Equipment 543 Far East crisis German reunification Construction Overseas 478 Construction Domestic 165 Note: 2000 – 2002 based on H

  12. Slide 12: 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

  13. Slide 13: 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

  14. Slide 14: World construction markets

    2 World construction markets Bauer market potential Western Europe: Eastern Europe: declining markets, slowly positive development, Germany is quite good especially Russia + + - + - USA / Canada: Far East: public demand, positive development power plants, dams, etc. + + in all areas, especially Hong

  15. Slide 15: Global economic situation

    2 Global economic situation IMF projection of the real annual GDP growth in % 3.0 1.5 1.4 0.5 3.4 2.1 1.0 2013 2014 2013 2014 2.6 -0.4 Russia 1.6 Germany 2013 2014 2013 2014 7.6 7.3 European Union CIS* 2013 2014 United States 3.6 6.3 6.5 2.3 2.5 2.5 6.0 2013 2014 5.0 2013 2014 Middle East & China 20

  16. Slide 16: Market environment: Orders & Currency risks

    2 Market environment Orders & Currency risks Order backlog (Orders in hand) Currency Risks 9M 2013 Reach in months Construction in relation to total  Project size EUR 100,000 up to EUR 70 million Group revenues full year 2012  ~ 50 / 50 infrastructure / large industrial buildings  ~ 600 projects

  17. Slide 17: Regional breakdown

    3 Regional breakdown Total Group revenues 9M 2013 in EUR million Germany 340 (31 %) Total 1,110 Africa 37 (3 %) Americas 126 (11 %) Asia-Pacific, Full year 2012 Far East & Australia in EUR million Germany 385 (27 %) 257 (23 %) Total 1,446 Africa 60 (4 %) Americas 203 (14 %) Asia-Pacific, Far East &

  18. Slide 18: Regional breakdown by segment

    3 Regional breakdown Construction, Equipment, Resources 9M 2013 Construction segment Equipment segment Resources segment in EUR million Total 534 Total 432 Total 144 Germany 151 (28 %) Germany 102 (24 %) Germany 87 (60 %) Africa 6 (4 %) Africa 23 (4 %) Africa 8 (2 %) Americas 8 (6 %) Americas 56 (11

  19. Slide 19: Financials: Revenues, earnings & orders

    4 Financials Revenues, earnings & orders Revenues Orders in hand in EUR million in EUR million Total Group revenues Sales revenues 836.7 1,600 880 1,446 785.0 775.1 1,372 1,344 750.0 1,304 1,132 1,220 1,200 1,110 660 614.9 1,063 934 969 800 440 400 220 0 0 2010 2011 2012 9M 2012 9M 2013 2010 2011 20

  20. Slide 20: Financials: Revenues, earnings & orders per segment

    4 Financials Revenues, earnings & orders per segment in EUR '000 Q3 2012* Q3 2013 ∆ Q3 in % 9M 2012* 9M 2013 ∆ 9M in % FY 2012* Construction Total Group revenues 163,721 182,425 11.4 % 483,993 529,719 9.4 % 656,834 Sales revenues 148,295 182,483 23.1 % 431,518 474,912 10.1 % 579,069 Orders in hand 4

  21. Slide 21: 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

  22. Slide 22: 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

  23. Slide 23: Income statement 9M 2013

    4 Financials Income statement 9M 2013 in EUR '000 9M 2012 * 9M 2013 ∆ 9M in % FY 2012 * Consolidated revenues (P&L) 1,027,778 1,057,540 2.9% 1,385,862 Sales revenues (P&L) 933,891 969,326 3.8% 1,344,421 Material costs -518,265 -556,027 7.3% -686,834 Personnel costs -238,497 -257,466 8.0% -324,989 De

  24. Slide 24: Balance sheet September 30, 2013

    4 Financials Balance sheet September 30, 2013 in EUR '000 Sept. 30, 2012 * Sept. 30, 2013 ∆ in % Dec 31, 2012 * Assets 1,651,668 1,653,661 0.1% 1,529,404 Intangible assets 32,095 31,857 -0.7% 34,567 Property, plant and equipment 469,931 461,864 -1.7% 465,316 Long term financial assets 12,743 21,332

  25. Slide 25: Cash flow statement 9M 2013

    4 Financials Cash flow statement 9M 2013 in EUR '000 9M 2012 9M 2013 ∆ 9M in % FY 2012 Operating cash flow -21,569 -103,759 n/a 165,713 Investing cash flow -62,461 -48,993 n/a -76,187 Financing cash flow 107,769 148,174 37.5% -68,008 Free Cash Flow -84,030 -152,752 n/a 89,526 Changes in liquid funds

  26. Slide 26: Guidance 2013

    5 Guidance 2013 Top-line growth but net loss after tax due to one-off effects 2012e* 2012 final 2013e Total Group Revenues ~ 1,450 EUR million 1,446 EUR million ~ 1,500 EUR million EBIT ~ 76 EUR million 71.4 EUR million ~ 25 EUR million Net profit 25 - 30 EUR million 25.3 EUR million ~ -20 EUR milli

  27. Slide 27: Appendix

    Appendix A History of Bauer p. 28 B Construction projects p. 30 C Equipment programme p. 35 D Resources projects p. 40 E Market environment Germany p. 43 F BAUER share p. 44 G Key Figures Time Line p. 46 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 27

  28. Slide 28: 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 · 2012 1790 1900-1970 1980-1990 2000-2012 End of 1970’s: Early 1980’s: 4. Jul 2006: FY 2012: Start of Selling of equipment to IPO

  29. Slide 29: Bauer's home base

    A Bauer’s home base Headquarters and plant Schrobenhausen, Germany 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 29

  30. Slide 30: Construction USA – Remediation works on Center Hill Dam

    B Construction USA – Remediation works on Center Hill Dam 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 30

  31. Slide 31: Construction Hong Kong – Hong Kong-Zhuhai-Macau bridge

    B Construction Hong Kong – Foundation of Hong Kong-Zhuhai-Macau bridge 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 31

  32. Slide 32: Construction Sydney – Pile foundation for office complexes

    B Construction Sydney, Australia – Pile foundation for office complexes © Sydney Aerial Photography 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 32

  33. Slide 33: Construction Munich – Tunnel for Mittlerer Ring

    B Construction Munich, Germany – Tunnel for Mittlerer Ring 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 33

  34. Slide 34: Construction Lenggries – Sylvenstein dam

    B Construction Lenggries, Germany – Strengthening works on Sylvenstein dam 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 34

  35. Slide 35: Equipment: Drilling rigs (BG-systems)

    C Equipment Product range: Drilling rigs (BG-systems) The ValueLine and the ValueLine PremiumLine were introduced as The BG ValueLine is a fully dedicated two product lines with the goal of Kelly drilling rig. even better satisfying various • Long mast for more drilling depth • Increased drill axis

  36. Slide 36: Equipment: Foundation Cranes

    C Equipment Product range: Foundation Cranes MC 32 MC 96 MC 128 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 36

  37. Slide 37: Equipment: Deep Drilling

    C Equipment Product range: Deep Drilling RB 50 TBA 100 TBA 300/440 M1 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 37

  38. Slide 38: Equipment: Underwater Drilling

    C Equipment Product range: Underwater Drilling 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 38

  39. Slide 39: Resources: Materials

    D Resources Materials Amman, Jordan – Drilling works and installation of production wells 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 39

  40. Slide 40: Resources: Exploration and Mining Services

    D Resources Exploration and Mining Services Canada – Diavik Mine Oil drilling rig of Site Goup Tulves, South Tyrol 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 40

  41. Slide 41: Resources: Environment

    D Resources Environment One third of total area visible Oman – Reed Bed Water Treatment Plant 13-11-14 IR-Presentation_9M_2013 © BAUER AG, D-86529 Schrobenhausen 41

  42. Slide 42: Market environment – Germany

    E Market environment – Germany German construction market Absolute Figures Change in % 2012 West Germany East Germany August 2013 West- East- 2012/ 2012/ Jan-Aug 2012/ 2012/ Jan-Aug Germany Germany 1994 2011 2013/2012 1994 2011 2013/2012 Employees in 1000 560,7 184,2 -43,1 2,1 -0,8 -58,8 -0,5 -1,3 R

  43. Slide 43: BAUER share: Facts & Figures

    5 BAUER share Facts & Figures Share performance (01/2013 – 10/2013)  Listed on Frankfurt stock exchange, SDAX Prime Standard, since July 4, 2006 DAX  Share capital EUR 73,001,420.45 BAUER AG  Shares issued 17,131,000  Issue price EUR 16.75 Trading volume  Listed in SDAX (MDAX from 22.09.2008 to

  44. Slide 44: BAUER share: Dividend policy

    5 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 2010 – Q3 2013

    G Key Figures Time Line Q3 2010 – Q3 2013 Total Group Revenues 2008 2009 Q3 10 Q4 10 2010 Q1 11 Q2 11 Q3 11 Q4 11 2011 Q1 12 Q2 12 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 (in EUR million) BAUER Group 1.527,2 1.275,8 369,7 341,4 1.304,0 307,4 332,4 369,1 362,9 1.371,8 340,0 361,6 361,7 382,3 1.445,6 331,2

  46. Slide 46: BAUER Aktiengesellschaft: Financial calendar 2014

    BAUER Aktiengesellschaft Financial calendar 2014 Publication Annual Report 2013 April 11, 2014 Annual Press Conference April 11, 2014 Analyst Conference April 11, 2014 Annual General Meeting June 26, 2014 Interim Report to March 31, 2014 May 14, 2014 Half-Year Interim Report to June 30, 2014 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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