BAUER Aktiengesellschaft · HAM:B5A0
BAUER Aktiengesellschaft — 9M 2006 Earnings Presentation
28 slides from BAUER Aktiengesellschaft's earnings presentation, November 2006
Slide 1: BAUER Aktiengesellschaft Analyst Presentation
BAUER Aktiengesellschaft Analyst Presentation Results as of 30 September 2006
Slide 2: 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
Slide 3: Contents
Contents 1 BAUER share 2 BAUER - the first nine months 2006 at a glance 3 BAUER group of companies: business model, projects, products 4 BAUER financial results 5 Construction & specialist foundation market 6 Outlook 06-11-IR-Presentation_as of 30 Sept 2006 3
Slide 4: BAUER share
1 BAUER share Listed on Frankfurt stock exchange, Prime Standard since 4 July 2006 17,131,000 shares issued Issue price EUR 16.75 Share performance +40 % since IPO (a) Listed in SDAX since 18 September 2006 Bauer family biggest shareholder with 48.17 % of shares Free float 51.83 % Ma
Slide 5: BAUER - the first nine months 2006 at a glance
2 BAUER - the first nine months 2006 at a glance Continued successful trend of fiscal year 2005 in both business segments construction and equipment Healthy growth of total group revenues Total Group revenues up 19 % to EUR 730.5milion (9-months 2005 EUR 610.4million) Business segment equipm
Slide 6: BAUER group of companies
3 BAUER group of companies Two main business segments Construction Equipment ~ 60 % of revenues (a) ~ 40 % of revenues (a) Specialist for foundation engineering Premium player for specialist foundation and construction equipment Focus on complex projects Focus on technologically advanced
Slide 7: History of Bauer
3 History of Bauer Two centuries of experience Public Early 1990’s: After WW II: End of 1970’s: listed Build up of Start of construction Start of company specialist construction/ business internationalisation SDAX environmental business 1790 1950's 1960's 1970's 1980's 1990's 2000+ 2006 Early 1970’s
Slide 8: Leading position in highly specialised markets
3 Leading position in highly specialised markets Worldwide network in both main business segments Equipment Construction BAUER Technologies, Tianjin, China Pileco, Houston, Texas BAUER AG, Schrobenhausen, Germany Klemm, Drolshagen, Germany 06-11-IR-Presentation_as of 30 Sept 2006 8
Slide 9: What is specialist foundation?
3 What is specialist foundation? Building an excavation pit Supporting wall Ground water Injection anchor Underpinning injection Sealing slab Pile foundation 06-11-IR-Presentation_as of 30 Sept 2006 9
Slide 10: Exemplary projects - special foundation
3 Exemplary projects - special foundation Canada, Péribonka Himalayas, Dhauliganga 06-11-IR-Presentation_as of 30 Sept 2006 10
Slide 11: Exemplary projects - special foundation
3 Exemplary projects - special foundation Florida, St. Petersburg Australia, Tugun Bypass India, New Delhi 06-11-IR-Presentation_as of 30 Sept 2006 11
Slide 12: Exemplary projects - special foundation
3 Exemplary projects - special foundation Cologne, RTL Munich, Angerhof Abu Dhabi, Landmark Tower 06-11-IR-Presentation_as of 30 Sept 2006 12
Slide 13: Product range - equipment
3 Product range - equipment BG-systems: large diameter drilling rigs 06-11-IR-Presentation_as of 30 Sept 2006 13
Slide 14: Product range - equipment
3 Product range - equipment Drilling tools 06-11-IR-Presentation_as of 30 Sept 2006 14
Slide 15: Product range - equipment
3 Product range - equipment Grab systems, CSM, Trench cutters 06-11-IR-Presentation_as of 30 Sept 2006 15
Slide 16: Product range - equipment
3 Product range - equipment Other 06-11-IR-Presentation_as of 30 Sept 2006 16
Slide 17: Bauer Annual Exhibition
3 Bauer Annual Exhibition 06-11-IR-Presentation_as of 30 Sept 2006 17
Slide 18: Longstanding healthy business development
4 Longstanding healthy business development Steady growth and successful product diversification CAGR(b) Total Group revenues 2005(a) 1990 – 2005 900 Specialist construction 800 Foundation 14% Equipment Total Group revenues (EUR million) Construction 700 (Germany) 13% 38% ~12% 600 35% 500 Foundation
Slide 19: Financial results - overview
4 Financial results - overview in TEUR FY 2005 Jan-Sept 2005 Jan-Sept 2006 change in % Total group revenues 824,330 610,429 730,514 19.7% busines s s egm ent construction 521,250 376,622 406,047 7.8% busines s s egm ent equipment 335,680 243,845 337,734 38.5% other 18,700 14,740 19,964 n/a cons olid
Slide 20: Financial results - regional development
4 Financial results - regional development in TEUR FY 2005 in % Jan-Sept 2005 Jan-Sept 2006 change in % Germ any 270,350 33% 200,293 203,809 1.8% Europe (EU) 148,810 18% 106,697 140,737 31.9% Europe (non EU) 69,340 8% 51,642 43,263 -16.2% Middle East 109,820 13% 93,372 101,367 8.6% Far East 85,580 1
Slide 21: Financial results - EBIT Margin
4 Financial results - EBIT Margin 10.00% 8.00% 6.00% 4.00% 2.00% 0.00% Mrz. 05 Jun. 05 Sep. 05 Dez. 05 Mrz. 06 Jun. 06 Sep. 06 -2.00% -4.00% Construction Equipment BAUER Group -6.00% 06-11-IR-Presentation_as of 30 Sept 2006 21
Slide 22: Financial results - P&L positions
4 Financial results - P&L positions in TEUR Jan-Sept 2005 Jan-Sept 2006 change in % Consolidated revenues (P&L) 584,855 685,589 17.2% Material costs 336,216 381,514 13.5% Personnel costs 123,038 130,781 6.3% Depreciation 32,990 35,950 9.0% Other operating expenses 63,824 94,876 48.7% EBIT 28,787 42,
Slide 23: Financial results - Balance sheet positions
4 Financial results - Balance sheet positions in TEUR 31 Dec 2005 in % 30 Sept 2006 in % Assets 568,810 100.0% 704,354 100.0% Intangible assets 10,526 1.9% 10,857 1.5% Property, plant and equipment 169,336 29.8% 170,618 24.2% Long term financial assets 4,471 0.8% 5,899 0.8% Other long term assets, d
Slide 24: Financial results - Cash flow positions
4 Financial results - Cash flow positions in TEUR FY 2005 Jan-Sept 2005 Jan-Sept 2006 Operating cash flow 61,206 -30,663 -36,536 Investing cash flow -32,192 -19,451 -23,963 Financing cash flow -25,107 54,482 68,877 Free Cash Flow 29,014 -50,114 -60,499 Net cash increase 3,907 4,398 8,378 Cash at sta
Slide 25: World construction & specialist foundation market
5 World construction & specialist foundation market Attractive growth potential Global GDP outlook Construction industry Specialist foundation Construction Higher density in High infrastructure metropolitan areas Sound economic environment investments Increased complexity of projects Key i
Slide 26: Outlook
6 Outlook Signs of recovery in German construction market continue to strengthen Order book increase sustainable Most of pre-financing requirements will net out towards year end Demand for BAUER equipment very strong - challenge to serve all potential customers in time Innovations (eg. Qua
Slide 27: Outlook - Areas of strategic development
6 Outlook Areas of strategic development Transferring core competencies to new markets Offshore wind parks, Mining Geothermal applications services for oil/gas drilling 06-11-IR-Presentation_as of 30 Sept 2006 27
Slide 28: BAUER Aktiengesellschaft
BAUER Aktiengesellschaft ISIN DE0005168108 Reuters B5AG.DE Bloomberg B5A GR Listing Indices C-DAX Classic All Share Prime All Share Investor Relations BAUER Aktiengesellschaft Wittelsbacherstraße 5 D - 86529 Schrobenhausen Tel.: +49 8252/ 97- 1918 Fax: +49 8252/ 97- 2900 E-Mail: bettina.me
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