BAUER Aktiengesellschaft · HAM:B5A0
BAUER Aktiengesellschaft — 9M 2007 Earnings Presentation
35 slides from BAUER Aktiengesellschaft's earnings presentation, Nov 14, 2007
Slide 1: BAUER Aktiengesellschaft Analyst Presentation first nine months 2007
BAUER Aktiengesellschaft Analyst Presentation first nine months 2007
Slide 2: Contents
Contents 1 BAUER Group: business model & history 2 BAUER Construction 3 BAUER Equipment 4 BAUER Resources 5 Our market 6 Financial results: key figures 2006 & first nine months 2007 7 Outlook 8 BAUER share 07-08-IR-Presentation_1st HY_2007 2
Slide 3: BAUER Group
1 BAUER Group Services, equipment & products dealing with ground and groundwater Construction Equipment Target ~ 40 % of Target ~ 45 % of total Group revenues total Group Global provider revenues for specialist foundation Market leader engineering in specialist and related foundation constru
Slide 4: History of Bauer
1 History of Bauer Two centuries of experience 4 Jul 2006: IPO Early 1990’s: After WW II: End of 1970’s: Sept 2006: Build up of Start of construction Start of Admittance in specialist construction/ business internationalisation SDAX environmental business 1790 1950's 1960's 1970's 1980's 1990's 2000
Slide 5: Longstanding healthy business development
1 Longstanding healthy business development Steady growth and successful product diversification Total 2006 Total Group revenues 1980 - 2006 EUR 980 million 1000 62 900 800 43% Overall growth rate 1980 - 2006 700 on average ~ 9.5 % 401 600 500 87 400 300 328 200 100 102 0 1982 1984 1986 1988 1990 19
Slide 6: Leading position in highly specialised markets
1 Leading position in highly specialised markets Worldwide network in main business segments Main Offices: BAUER Maschinen KSM, Equipment Kurgan, Russia Construction Resources BAUER Technologies, Tianjin, China Pileco, Houston, Texas BAUER AG, Schrobenhausen, Germany Klemm, Drolshagen, Germany 07-08
Slide 7: What is specialist foundation?
2 What is specialist foundation? Building an excavation pit Supporting Wall Ground Water Underpinning Injection Injection Anchor Pile Foundation Sealing Slab 07-08-IR-Presentation_1st HY_2007 7
Slide 8: What is specialist foundation used for?
2 What is specialist foundation used for? Applications for specialist foundation techniques Dam Diaphragm Wall Injection Pile Anchors Foundation Road Injection Anchors Injection Pile Anchors Foundation 07-08-IR-Presentation_1st HY_2007 8
Slide 9: Construction
2 Construction Typical excavation pit Excavation pit in Germany, Nuremberg … … for future IMAX cinema 07-08-IR-Presentation_1st HY_2007 9
Slide 10: Construction: Exemplary projects Germany
2 Construction Exemplary projects Germany Hamburg Würzburg - Rottendorf Werbach Karlsruhe Münster 07-08-IR-Presentation_1st HY_2007 10
Slide 11: Construction: Exemplary projects International
2 Construction Exemplary projects International France, Metz Serbia, Belgrad Austria, Jenbach Turkey, Istanbul 07-08-IR-Presentation_1st HY_2007 11
Slide 12: Construction: Exemplary projects International
2 Construction Exemplary projects International Australia, Gold Coast USA, Florida Singapur, Marina Bay Sands UAE, Emirat Ras Al-Khaimah Lebanon, Beirut 07-08-IR-Presentation_1st HY_2007 12
Slide 13: Equipment: BG-systems
3 Equipment Product range: BG-systems (large diameter drilling rigs) 07-08-IR-Presentation_1st HY_2007 13
Slide 14: Equipment: Tools
3 Equipment Product range: Tools 07-08-IR-Presentation_1st HY_2007 14
Slide 15: Equipment: Grab systems, CSM, Trench cutters
3 Equipment Product range: Grab systems, CSM, Trench cutters 07-08-IR-Presentation_1st HY_2007 15
Slide 16: Equipment: Other equipment
3 Equipment Product range: Other equipment 07-08-IR-Presentation_1st HY_2007 16
Slide 17: Bauer stand on bauma 2007
3 Equipment Bauer stand on bauma 2007 07-08-IR-Presentation_1st HY_2007 17
Slide 18: Resources: Areas of strategic development
4 Resources Areas of strategic development Transferring core competencies to new markets Plant-based sewage treatment Remediation/cleaning of soil Funnel and Gate System works, Abu Dhabi 07-08-IR-Presentation_1st HY_2007 18
Slide 19: Resources: Areas of strategic development
4 Resources Areas of strategic development Transferring core competencies to new markets Establishing of mines and mining Exploration drilling for mining Geothermal applications 07-08-IR-Presentation_1st HY_2007 19
Slide 20: Resources: Areas of strategic development
4 Resources Areas of strategic development Transferring core competencies to new markets Offshore wind parks, services Well drilling Water engineering for oil and gas drilling 07-08-IR-Presentation_1st HY_2007 20
Slide 21: Recovery of German construction market
5 Recovery of German construction market Increase in revenues and orders received Absolute Figures Change in % 2006 West Germany East Germany West- East- 2006/ 2006/ 01-07/ 2006/ 2006/ 01-07/ Germany Germany 1994 2005 2007/2006 1994 2005 2007/2006 Employees in 1000 525.7 184.8 -46.8 -0.5 0.1 -58.7 -
Slide 22: 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 23: Financial results: Key Figures 2006
6 Financial results Key Figures 2006 2005 2006 Change in EUR million in EUR million in % Total Group revenues, of which 824.3 979.9 + 18.9 % - Germany 270.4 282.2 + 4.4 % - International 553.9 697.7 + 26.0 % - Construction 487.2 538.8 + 10.6 % - Equipment 330.2 452.5 + 37.0 % - Resources 52.5 63.9 +
Slide 24: Development of Revenues & Earnings per Quarter
6 Financial results Development of Revenues & Earnings per Quarter Consolidated Revenues & EBIT €309.3m €281.7m €255.4m €252.6m €232.9m €228.0m €228.6m €204.9m €202.2m €186.9m €145.3m €30.5m €30.2m €36.0m €12.1m €19.0m €18.7m €3.5m €15.0m €24.0m €11.9m €-2.3m Q1 2005 Q2 2005 Q3 2005 Q4 2005 Q1 2006
Slide 25: Revenues & Orders in hand first nine months 2007
6 Financial results Revenues & Orders in hand first nine months 2007 in EUR '000 Jan - Sep 2006 Jan - Sep 2007 change in % FY 2006 Total group revenues 730,514 891,232 22.0% 979,850 Consolidated revenues, Construction 339,187 365,732 7.8% 468,451 Consolidated revenues, Equipment 341,942 446,866 30.7
Slide 26: Earnings first nine months 2007
6 Financial results Earnings first nine months 2007 in EUR '000 Jan - Sep 2006 Jan - Sep 2007 change in % FY 2006 EBITDA 78,418 115,712 47.6% 123,191 (a) Margin 11.4% 13.7% n/a 13.5% EBIT 42,468 78,118 83.9% 72,985 (a) EBIT Margin 6.2% 9.3% n/a 8.0% EBIT Construction segment 10,243 12,411 21.2% 10,3
Slide 27: Regional development & breakdown
6 Regional development & breakdown Total Group revenues first nine months 2007 891 million Euro Germany 31% Other 7% Americas 12% 19% Other EU 11% 6% 15% Far East Other Europe (non EU) Middle East in EUR '000 Jan -Sep 2006 in % Jan - Sep 2007 in % change in % Germany 203,809 28% 275,661 31% 35.3% Eu
Slide 28: Regional breakdown of all business segments
6 Regional breakdown of all business segments Construction, Equipment, Resources first nine months 2007 Construction Equipment Germany Germany 38% 17% Other EU Other Other 6% 7% 25% Americas 7% Americas 11% 17% 12% Far East Other EU 10% 24% 2% 14% 10% Other Europe (non EU) Far East Other Europe (non
Slide 29: P&L items
6 Financial results P&L items in EUR '000 Jan -Sep 2006 Jan - Sep 2007 change in % FY 2006 (a) Consolidated revenues (P&L) 685,169 843,537 23.1% 914,200 Material costs 381,514 455,797 19.5% 516,900 Personnel costs 130,781 153,278 17.2% 175,069 Depreciation 35,950 37,594 4.6% 50,206 (a) Other operati
Slide 30: Balance sheet items
6 Financial results Balance sheet items in EUR '000 September 30, 2006 September 30, 2007 change in % December 31, 2006 Assets 704,354 857,173 21.7% 643,717 Intangible assets 10,857 26,398 143.1% 11,346 Property, plant and equipment 170,618 200,994 17.8% 184,855 Long term financial assets 5,899 11,1
Slide 31: Cash flow items
6 Financial results Cash flow items in EUR '000 Jan -Sep 2006 Jan - Sep 2007 change in % FY 2006 Operating cash flow -36,536 -844 -97.7% 38,972 Investing cash flow -23,963 -56,354 135.2% -48,007 Financing cash flow 68,877 74,487 8.1% 11,657 Free Cash Flow -60,499 -57,198 -5.5% -9,035 Net cash increa
Slide 32: Outlook
7 Outlook Continuing growth of world-GDP and therefore worldwide construction markets offers excellent opportunities for further profitable growth in all business segments Construction Germany: Due to gradual upturn in the German construction industry pricing in small and medium scale-projects
Slide 33: BAUER share
8 BAUER share Share performance Listed on Frankfurt stock exchange, Prime Standard since July 4, 2006 17,131,000 shares issued Issue price EUR 16.75 BAUER AG Listed in SDAX since September 18, 2006 Earnings per share 2006 EUR 2.17 SDAX Dividend payout for 2006 0.50 EUR per share IPO Ye
Slide 34: 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 35: BAUER Aktiengesellschaft
BAUER Aktiengesellschaft ISIN DE0005168108 Reuters B5AG.DE Bloomberg B5A GR Listing Indices C-DAX GEX 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.mestenhauser
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