BAUER Aktiengesellschaft · HAM:B5A0

BAUER Aktiengesellschaft — Q2 2021 Earnings Presentation

48 slides from BAUER Aktiengesellschaft's earnings presentation, Aug 12, 2021

  1. Slide 1: Group Presentation 6M/Q2 2021

    Investor Relations Group Presentation 6M/Q2 2021 BAUER AG August 12, 2021

  2. Slide 2: Overview

    1 Overview ▪ BAUER Group ▪ Highlights 6M/Q2 2021 2

  3. Slide 3: Three closely interlinked segments – a business model with a future

    BAUER Group Three closely interlinked segments – a business model with a future Mission The BAUER Group is a leading provider of services, equipment & products dealing with ground and groundwater Construction Equipment Resources Global provider for One of the technical leading manufacturer Products

  4. Slide 4: 6M 2021 – Increase of revenues and earnings in still difficult environment

    Highlights 6M 2021 – Increase of revenues and earnings in still difficult environment Total Group revenues EBIT* Earnings after tax Order backlog Equity EUR 767.4 million EUR 15.3 million EUR -5.6 million EUR 1,279 million EUR 450.4 million (+5.8%) (EUR 11.0 million) (EUR -16.0 million) (+0.3%) (+22

  5. Slide 5: Financials

    2 Financials ▪ Overview: Market environment and course of business ▪ Working capital & Net debt ▪ Capital increase 2021 5

  6. Slide 6: Key figures 6M 2021

    Financials Key figures 6M 2021 in EUR million 6M 2020* 6M 2021 ∆ 6M in % Total Group revenues 725.0 767.4 +5.8% Construction 312.2 358.6 +14.8% Equipment 296.9 314.4 +5.9% Resources 151.8 138.2 -9.0% Other/Consolidation -35.9 -43.8 n/a Sales revenues 648.5 685.5 +5.7% Order intake 973.1 884.3 -9.1%

  7. Slide 7: Revenues & Earnings – Group

    Financials Revenues & Earnings – Group Revenues Development 6M 2021 in EUR million Total Group revenues Sales revenues ▪ Increase of total Group revenues in a still difficult market ∆ 6M 2,000 +5.8% environment 1,595 +5.7% 1,600 1,471 1,454 ▪ Correspondingly, sales revenues were also above prior-yea

  8. Slide 8: Order situation – Group

    Financials Order situation – Group Order intake Development 6M 2021 in EUR million ▪ Order intake decreased on Group level 1,609 1,589 ▪ Equipment segment increased order intake Q4 321 318 Q3 450 297 -9.1% ▪ Decrease in Construction and Resources segments, because of the very high 2020 basis Q2 518

  9. Slide 9: Construction segment

    Financials Construction segment Market environment 6M 2021 and course of business ▪ Construction continued to be influenced by the effects of the COVID-19 pandemic ▪ Markets in Europe and the USA positive, good workload in the Middle East due to a major order in Jordan. ▪ Postponements of project st

  10. Slide 10: Equipment segment

    Financials Equipment segment Market environment 6M 2021 and course of business ▪ The first quarter of 2020 showed only minimal effects of the COVID-19 pandemic. In this respect, the increase in revenue and earnings in the first half of the year 2021 represents an improvement in comparison. ▪ The cus

  11. Slide 11: Resources segment

    Financials Resources segment Market environment 6M 2021 and course of business ▪ Resources segment still relatively unaffected by the pandemic ▪ Revenue decrease compared to H1 2020 is related to the major Kesslergrube project, which was handed over to the client in July 2020 ▪ Good start into 2021

  12. Slide 12: Working Capital, liabilities to banks & net debt – Group

    Financials Working Capital, liabilities to banks & net debt – Group Working Capital Development 6M 2021 in EUR million ▪ Positive development ongoing in first half-year 2021 800 726 700 ▪ Measures to optimize working capital take effect: inventories reduced; receivables and other assets increased in

  13. Slide 13: Capital increase 2021 successfully implemented

    Financials Capital increase 2021 successfully implemented Results ▪ Very successful – maximum net proceeds of EUR 63.3 million achieved ▪ Strong demand for oversubscriptions ▪ Used for repayment of financial liabilities ▪ Increase in equity ratio – 27.3% compared to 22.2% (6M/2020) Shareholder struc

  14. Slide 14: Markets & Regions

    3 Markets & Regions ▪ Markets ▪ Regional distribution 14

  15. Slide 15: Construction market environment vs. order backlog

    BAUER Group Construction market environment vs. order backlog Europe USA / Canada Germany o Market: Western European countries affected by o Market: good construction o Market: still a good market, coronavirus; slow development market despite coronavirus; first signs of weakening; in Eastern Europe;

  16. Slide 16: Total Group revenues 6M 2021 – Group

    Regional breakdown Total Group revenues 6M 2021 – Group Total 767 in EUR million Germany 266 (35%) Europe 138 (18%) Middle East 86 (11%) Full year 2020 Total 1.098 Africa 52 (5%) in EUR million America 187 (17%) Germany 332 (30%) Asia-Pacific, Far East & Australia 162 (15%) Middle East & Asia-Pacifi

  17. Slide 17: Total Group revenues 6M 2021 – Segments

    Regional breakdown Total Group revenues 6M 2021 – Segments Construction segment Equipment segment Resources segment Total 351 Total 279 Total 138 in EUR million Germany 86 (24%) Germany 83 (30%) Germany 98 (71%) Europe 46 (13%) Europe 77 (28%) Europe 15 (11%) Middle East Middle East Middle East 67 (

  18. Slide 18: Outlook

    4 Outlook ▪ Forecast 2021 ▪ Megatrends & focus topics ▪ Financial ambition for 2023 18

  19. Slide 19: Forecast 2021 unchanged – Increase in revenues and earnings expected

    BAUER Group Forecast 2021 unchanged – Increase in revenues and earnings expected Construction Equipment Resources ▪ High demand for infrastructure ▪ Investments expected to pick up from ▪ Measures 2020 are the basis for the ▪ Growth in revenues and EBIT mid-2021 onwards realignment ▪ Growth in reven

  20. Slide 20: A look into the future

    BAUER Group A look into the future Megatrends Our focus topics ▪ Exploiting opportunities in global fields of the future ▪ Megatrends open up attractive potential worldwide ▪ Leveraging synergies between the segments ▪ The three segments Construction, Equipment and Resources enable an interlinking o

  21. Slide 21: Financial ambition – mid-term perspective for year-end 2023

    BAUER Group Financial ambition – mid-term perspective for year-end 2023 Key topics Mid-term financial targets ▪ Sustainable profit improvement is our main focus for the next ▪ Growth: 3 - 5% (CAGR) years ▪ Top line growth is not our primary focus ▪ EBIT margin: ▪ Target is a healthy & strong balance

  22. Slide 22: Appendix

    5 Appendix ▪ BAUER Group ▪ Executive Board ▪ The three segments ▪ Financials ▪ BAUER share ▪ Financial calendar & IR contact 22

  23. Slide 23: Longstanding healthy business development

    BAUER Group Longstanding healthy business development Total Group revenues in EUR million (segment after deducting Other/Consolidation) Total 1,454 1,800 1,600 Resources 1,400 265 1,200 Equipment 546 1,000 800 Construction 600 Overseas 501 400 200 Construction Domestic 142 0 1980 1984 1988 1992 1996

  24. Slide 24: The three segments

    BAUER Group The three segments ▪ Target: ~ 40 % of ▪ Target: ~ 20 % of total Group revenues total Group revenues ▪ Market leader in specialist ▪ Innovative products and foundation equipment services in the fields of drilling services and water ▪ Specialized products for wells, environmental mining,

  25. Slide 25: Worldwide network

    BAUER Group Worldwide network Permanent Offices: Construction Equipment sales Resources Equipment production Conroe Schrobenhausen Tianjin Kuala Lumpur 25

  26. Slide 26: The history – Over two centuries of experience

    BAUER Group The history – Over two centuries of experience Dipl.-Ing. Dr.-Ing. Prof. Dr. Dipl.-Kfm. Karl Bauer Karlheinz Bauer Thomas Bauer 1790 - 1956 1958 - 1990 1992 - 2008 2009 - 2020 ▪ 1790 Sebastian Bauer acquires a ▪ 1958 Invention of the injection anchor on the ▪ 1992 Takeover of SCHACHTBAU

  27. Slide 27: Executive Board

    BAUER AG Executive Board Michael Stomberg (CEO) Florian Bauer Hartmut Beutler (CFO) Peter Hingott ▪ Digitalization ▪ Financing & Treasury ▪ Group Controlling & Accounting ▪ Technology ▪ Human Resources 27

  28. Slide 28: Construction segment Overview

    Construction segment Overview Key facts ▪ About 50 small-/mid-size local companies around the world ▪ Focus on complex, international projects ▪ About 400 to 500 projects per year with a 50/50 infrastructure/industrial split ▪ Figures are somewhat cyclical between the quarters – focus on the entire

  29. Slide 29: What is specialist foundation? Building an excavation pit

    What is specialist foundation? Building an excavation pit Mixed-In-Place Method Diaphragm and Cut-off Wall Piling Retaining Ground Anchor Wall Permeation Grouting Pile Foundation 29

  30. Slide 30: What is specialist foundation used for? Applications

    What is specialist foundation used for? Applications Excavation Pits Cut-off-Walls Foundations Soil Improvement ... for every problem and requirement … as solution for dams and dikes …for the highest buildings in the world … allows projects on weak ground 30

  31. Slide 31: Arab Potash, Dead Sea, Jordan

    Construction segment Arab Potash, Dead Sea, Jordan 31

  32. Slide 32: Operaparken, Copenhagen, Denmark

    Construction segment Operaparken, Copenhagen, Denmark 32

  33. Slide 33: Equipment segment Overview

    Equipment segment Overview Key facts ▪ Provider for the full range of equipment for specialist foundation engineering as well as for the exploration, mining and extraction of natural resources ▪ Multi-branding strategy ▪ About 80% of sales abroad Market environment ▪ Growing construction markets wor

  34. Slide 34: Whole range of products for special foundation engineering

    Equipment segment Whole range of products for special foundation engineering 34

  35. Slide 35: Resources segment Overview

    Resources segment Overview Key facts ▪ Three focus topics: water, environment, natural resources ▪ Competence areas: water treatment, environmental remediation, waste management, drilling technologies and constructed wetlands ▪ Focus on key markets: Germany, Europe & Middle East Market environment ▪

  36. Slide 36: Groundwater treatment on industrial area, Leuna, Germany

    Resources segment Groundwater treatment on industrial area, Leuna, Germany 36

  37. Slide 37: World's largest reed bed treatment plant, Nimr, Oman

    Resources segment World's largest reed bed treatment plant, Nimr, Oman 37

  38. Slide 38: Income statement 6M 2021

    Financials Income statement 6M 2021 in EUR '000 Q2 2020* Q2 2021 6M 2020* 6M 2021 ∆ 6M in % Sales revenues (P&L) 314,531 382,472 648,527 685,464 5.7% Consolidated revenues (P&L) 329,367 396,114 705,575 736,790 4.4% Cost of materials -166,105 -206,197 -350,291 -371,852 6.2% Personel expenses -90,256

  39. Slide 39: Balance sheet as of June 30, 2021

    Financials Balance sheet as of June 30, 2021 in EUR '000 Dec 31, 2020 June 30, 2020* June 30, 2021 ∆ June in % Assets 1,543,985 1,655,545 1,650,521 -0.3% Non-current assets 641,541 679,228 654,069 -3.7% Intangible assets 14,598 15,106 14,342 -5.1% Property, plant and equipment and investment propert

  40. Slide 40: Cash flow statement 6M 2021

    Financials Cash flow statement 6M 2021 in EUR '000 6M 2020 6M 2021 ∆ in % Cash flow from operational activity -24,383 -50,949 n/a Cash flow from investment activity -30,969 -50,307 n/a Cash flow from financing activity 65,541 96,626 47.4% Free Cash Flow -55,352 -101,256 n/a Changes in liquid funds a

  41. Slide 41: Working capital & net debt – Financing of future revenues

    Financials Working capital & net debt – Financing of future revenues Key facts ▪ Bauer’s business model requires considerably more working capital than building construction companies ▪ Net debt is needed to pre-finance the operating business (working capital) ▪ Working capital mainly consists of In

  42. Slide 42: Working capital needs – Comparison with building construction

    Financials Working capital needs – Comparison with building construction Specialist foundation engineering Building construction ▪ Pre-financing need ▪ Positive cash contribution ▪ Construction contracts with short duration need ▪ Construction contracts with long durations ▪ No advance payments, no

  43. Slide 43: Time line – FY 2008 to Q2 2021

    Financials Time line – FY 2008 to Q2 2021 Total Group revenues in EUR million 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1 18 Q2 18 Q3 18 Q4 18 2018 Q1 19 Q2 19 Q3 19 Q4 19 2019 Q1 20 Q2 20 Q3 20 Q4 20 2020 Q1 21 Q2 21 BAUER Group 1,527.2 1,275.8 1,304.0 1,371.8 1,435.8 1,504.2 1,560.2 1,656

  44. Slide 44: BAUER share Facts & Figures

    BAUER share Facts & Figures Shareholder structure Share performance since IPO (in EUR) Doblinger Beteiligung GmbH 30.00% Bauer family 36.02% 33.98% Free float ▪ Listed on Frankfurt stock exchange (Prime Standard), since July 4, 2006 ▪ Share capital: EUR 111,186,566.80 in EUR 2017 2018 2019 2020 2021

  45. Slide 45: BAUER share Dividend policy

    BAUER share Dividend policy Dividend policy Dividend payment ▪ The dividend policy founded on a reasonable balance between in EUR shareholders and company 1.20 ▪ fair participation of shareholders 1.00 1.00 ▪ maintaining continuity 0.90 ▪ safeguarding of the equity ratio 0.60 0.60 0.60 0.50 0.50 ▪ A

  46. Slide 46: Financial calendar & contact

    Investor Relations Financial calendar & contact Financial Calendar 2021 IR contact March 2, 2021 Preliminary figures for 2020 Christopher Wolf Head of Investor Relations March 31, 2021 Extraordinary General Meeting BAUER Aktiengesellschaft April 13, 2021 Annual Report 2020 BAUER-Straße 1 86529 Schro

  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

  48. Slide 48: © 2021 BAUER AG. All rights reserved.

    © 2021 BAUER AG. All rights reserved.

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