Rosenbauer International Ag · VIE:ROS
Rosenbauer International — H1 2020 Earnings Presentation
35 slides from Rosenbauer International's earnings presentation, Aug 14, 2020
Slide 1: Investor & Analyst Presentation H1 2020 Financial Figures
Rosenbauer Rosenbauer Group Group Investor & Analyst Presentation I H1 2020 Financial Figures Sebastian Wolf I CFO Person Date August 14, 2020
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 2020 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 ■ Globally leading system provider of fire-fighting ■ High R&D expenditures, Rosenbauer Group holds equipment and preventive fire protection more than 200 patents ■ A premier producer of ■ First mover fire-fighitng vehicles pioneering ■ 16 % RB mar
Slide 6: Global network of production facilities, sales and service offices
Global network of production facilities, sales and service offices EUROPE AUSTRIA Leonding Neidling Graz Telfs FRANCE Meyzieu GERMANY Karlsruhe Luckenwalde Mogendorf and Gladbeck Bad Abbach-Lengfeld Viersen ITALY Rovereto Andrian POLAND Warsaw AMERICA MIDDLE EAST/ ASIA/AUSTRALIA RUSSIA Moscow Lyons
Slide 7: World firefighting vehicle market 2009-2018
World firefighting vehicle market 2009-2018 Fire-fighting vehicle Fire-fighting vehicle Rosenbauer Group market worldwide market worldwide Revenues Approximate number Global annual volume in EUR million of vehicles in thousands in EUR billion +5.9% +2.2% p.a. 978.1 p.a. +5.4% 4.8 847.6 22 870.8 909.
Slide 8: Leading system provider for fire protection
Leading system provider for fire protection (Product segments and % of group revenues; as of Dec. 31 2019) Municipal vehicles 40% ARFF Fire & Safety vehicles Equipment Vehicles 16% 78% Aerials Customer Service 16% 6% Industrial Stationary Fire 9% Protection vehicles 7% 2% 4% sonstige Umsätze Bilanzp
Slide 9: Comparison of competitors 2018/19
Comparison of competitors 2018/19 ■ Global annual volume € 4,800 million (2017: € 4.250 million) ■ Appr. 19,500 vehicles (2017: appr. 21,100) ■ Buyers are mainly public institutions ■ Consolidation of North-American markets favors US producers ■ Share of revenues of the top-10-companies appr. 70% Ra
Slide 10: First pre-series vehicles of the RT model to be handed over in September
First pre-series vehicles of the RT model to be handed over in September Strong feedback and initial orders from premium customers Berlin fire service Brandweer Amsterdam Dubai Civil Defence Oslo Fire Brigade L.A. Fire Department Successful series implementation Pre-reservations ■ Series development
Slide 11: Further product launches in fall 2020
Further product launches in fall 2020 Although INTERSCHUTZ has been rescheduled for 14 - 19 June 2021 Rosenbauer Group is going to launch its product innovations via alternative channels. Most products will be presented until year-end, either virtually or live at fairs. Roadmap to product launches ■
Slide 12: COVID-19 pandemic: Risks to Rosenbauer Group
COVID-19 pandemic: Risks to Rosenbauer Group Risks Customer acceptances ■ Single delays ■ Currently no official shut-downs of service locations or production sites Supply chain ■ Suppliers of chassis have restarted their production, single delays in the US Staff ■ Initial concerns and uncertainty va
Slide 13: COVID-19 pandemic: Rosenbauer traffic light system – Main measures
COVID-19 pandemic: Rosenbauer traffic light system – Main measures* ■ Minimum distance of 1 meter or mouth / nose protection, no handshakes, hand disinfection ■ Avoid face-to-face meetings, hold online meetings instead ■ External visitors are given access only to predefined areas Level 1 ■ Home offi
Slide 14: H1 2020 financial figures
H1 2020 financial figures € rosenbauer x
Slide 15: Rosenbauer Group highlights
Rosenbauer Group highlights ■ The Rosenbauer Group increases revenues by 16 % to € 458,0 million in the first six months 2020, which marks a new all-time-high with regards to the reporting period ■ All sales areas contribute to revenue growth; foremost Area NISA, Area MENA and Area NOMA ■ In spite o
Slide 16: Financial figures
Financial figures 2019/ € million 1-6/2018 1-6/2019 1-6/2020 2020 Revenues 352.7 394.6 458.0 +16% EBIT 10.1 5.2 5.4 +4% EBIT margin 2.9% 1.3% 1.2% - EBT 6.1 2.0 2.5 +25% Net profit for the period 5.3 1.6 2.2 +38% Cash flow from -39.4 -115.7 -34.0 +71% operating activities Investor Presentation I 1
Slide 17: Revenues and EBIT quarterly
Revenues and EBIT quarterly € million 500 60 450 55 50 400 357,4 363,6 45 350 36,8 40 300 31,8 35 243,1 250 218,8 219,9 232,9 225,1 30 211,7 210,9 199,3 200 190,3 175,8 25 162,4 20 150 12,1 15 100 8,9 9,9 5,8 6,3 7,0 4,3 10 50 2,1 3,1 5 1,1 1,1 0 0 Q2/17 Q3/17 Q4/17 Q1/18 Q2/18 Q3/18 Q4/18 Q1/19 Q2/
Slide 18: Revenues development
Revenues development € million +16.1% +24.9 +2.1 458.0 +15.1 +8.9 +4.4 ■ Rosenbauer Group 394.6 +8.0 with revenues at a new all-time-high in 1-6/2020 ■ All business segments contribute to revenue growth ■ Area NISA, Area MENA and Area NOMA show strongest increases H1 19 CEEU CEEU NISA MENA APAC APAC
Slide 19: EBIT development
EBIT development € million +3.8% +3.2 +0.6 5,4 ■ In spite of the 5.2 COVID-19 +2.3 pandemic EBIT improves in 1-6/2020 ■ Area MENA and Area NOMA with -2,6 -0.1 -3.2 biggest increases ■ Financial strain from the global health crisis amounts to € 9 H1 2019 CEEU CEEU NISA MENA APAC APAC NOMA NOMA SFP H1
Slide 20: Financial strain from COVID-19 pandemic
Financial strain from COVID-19 pandemic 14 12 - € 3.3 million 10 Effect on further production sites in Europe and Asia Main production sites in Austria 8 - € 5 million 6 Lost revenues, reduction of contribution margin 4 € 3 million 2 Compensation from AMS - € 3.7 million (short time work) Decrease o
Slide 21: Investments
Investments CAPEX, depreciation and amortization € million 11,0 8,4 8,3 8,6 8,2 7,7 7,8 7,0 6,8 7,0 H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 Investments Depreciation and amortization ■ New pump test bench at plant II in Leonding ■ Welding robot for aerial ladder production in Karlsruhe ■ Procurement
Slide 22: Accounting ratios
Accounting ratios FY 2019/ € million / % Jun. 30, 2019 Dec. 31, 2019 Jun. 30, 2020 H1 2020 1 Total assets 900.8 977.5 989.5 +1% 2 Equity ratio 25.1% 25.9% 25.2% - Capital employed (ø) 597.2 603.8 696.7 +15% ROCE 0.9% 8.6% 0.8% - ROE 0.9% 18.6% 1.0% - 3 Net debt 396.8 342.5 393.4 +15% 4 Gearing rat
Slide 23: Balance sheet structure
Balance sheet structure (in € million) 989,5 989,5 Assets 957,2 957,2 Provisions 900,8 900,8 53,2 53,2 187,2 219,5 53,9 203,6 260,2 696,2 696,2 260,2 207,2 Liabilities and 56,8 other debt 291,7 291,7 181,1 Receivables 231,1 152,1 225,9 248,9 and other 249,1 assets 186,5 Equity 220,7 478,3 478,3 466,
Slide 24: Trade working capital and Financing
Trade working capital and Financing Trade Working Capital TRADE WORKING CAPITAL Financing FINANCING € million € million € million € million 396,8 393,4 80% 400 190,00% 978,1 > 978,1 * 350 1000 909,4 170,00% 175,6% 60% 300 52,6% 51,7% 158,1% 150,00% 750 245,5 250 220,7 42,7% 225,9 248,9 130,00% 514,9
Slide 25: Outlook
Outlook Investor Presentation I 25
Slide 26: Order intake / backlog
Order intake / backlog Order intake/backlog Order intake H1 2020 € million by Area (H1 2019) 1.229,4 1.118,2 SFP 1.030,5 APAC 3% (2%) 7% (23%) 812,9 812,0 CEEU 36% (36%) 571,1 525,4 NOMA € 455.3m 458,3 455,3 28% (19%) 376,5 NISA 11% (10%) MENA 15% (10%) 1-6/2016 1-6/2017 1-6/2018 1-6/2019 1-6/2020 O
Slide 27: Regional Group order development
Regional Group order development Strong foothold in municipal markets proves favorable Mitigation of lockdown supports recovery of business, mainly in Central Europe Significant slowdown in all product segments Standstill in China, project delays in other markets Vivid project landscape
Slide 28: Outlook
Outlook ■ The COVID-19 pandemic has a more severe impact on economic activity than anticipated. For this reason the IMF has lowered its outlook even further in June. The contraction of the global economy is now set at -4.9% in 2020. ■ The economic recovery is projected to be more gradual, with a hig
Slide 29: Thank you for your attention! Q&A
Thank you for your attention! Q&A
Slide 30: Appendix
Appendix
Slide 31: Executive board
Executive board Dieter Siegel Sebastian Wolf Andreas Zeller Daniel Tomaschko CEO CFO CSO CTO Corporate Development Audit Area CEEU Supply Chain Management Human Resources Controlling Area NISA Central Technics Strategy Accounting/Tax Area APAC Center of Competence Innovation & Marketing Treasury Are
Slide 32: Segment reporting by areas
Segment reporting by areas CEEU: Central & Eastern Europe NISA: Northern Europe, Iberia, South America, Africa MENA: Middle East & North Africa APAC: Asia, Pacific, Australia, China NOMA: North & Middle America Investor Presentation I 32
Slide 33: Number of employees (reporting date)
Number of employees (reporting date) June 30, 2020 1.597 880 975 515 3,967 June 30, 2019 1.457 846 928 452 3,683 June 30, 2018 1.366 828 867 410 3,471 June 30, 2017 1.335 781 845 354 3,315 June 30, 2016 1.384 766 779 332 3,261 Austria USA Germany Rest of the world In addition, Rosenbauer employs a
Slide 34: Rosenbauer share
Rosenbauer share Investor FR 1-6/2019 1-6/2020 5% Highest price € 45.6 45.4 BVG * Free float 51% Lowest price € 33.1 23.0 44% Closing price € 42.5 32.7 * Rosenbauer Beteiligungsverwaltung GmbH Market capitalization € million 289.0 222.4 50 € 45 € Dividend € 1.25 0.8 40 € 35 € 30 € Earnings per share
Slide 35: Financial calendar
Financial calendar November 17, 2020 Publication of the Interim Statement Q3/2020 Investor Presentation I 35
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