BAUER Aktiengesellschaft · HAM:B5A0

BAUER Aktiengesellschaft — Bauer — FY2015 Earnings Presentation

50 slides from BAUER Aktiengesellschaft's earnings presentation, Apr 18, 2016

  1. Slide 1: BAUER AG Group Presentation Full year 2015

    BAUER AG Group Presentation Full year 2015 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen

  2. Slide 2: Key Figures FY 2015

    Key Figures FY 2015 FY 2014* FY 2015 ∆ FY in EUR million in EUR million in % Total Group revenues, of which 1,560.2 1,656.4 +6.2 % - Germany 440.2 473.7 +7.6 % - International 1,120.0 1,182.7 +5.6 % - Construction 725.6 742.9 +2.4 % - Equipment 639.2 753.1 +17.8 % - Resources 252.8 221.6 -12.3 % - O

  3. Slide 3: Key Figures FY 2015 Main topics

    Key Figures FY 2015 Main topics  Total Group revenues with EUR 1,656.4 million were 6.2 % above previous year (EUR 1,560.2 million). EBIT with EUR 90.7 million was 18.7 % higher than in the previous year (EUR 76.4 million). Net result for the period was EUR 29.0 million (previous year: EUR 15.7 mil

  4. Slide 4: Table of Content

    Table of Content BAUER Group – Strategy, Chances & Markets Financials FY 2015 & Guidance Appendix 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 4

  5. Slide 5: BAUER Group Mission & Strategy

    BAUER Group Mission & Strategy Mission EUR 1.66 billion total Group revenues The BAUER Group is a leading provider of services, equipment & products dealing with ground and groundwater. EUR 90.7 million EBIT Strategy 6.6 %  The world is our market. EBIT margin 27.2 %  Global network organization w

  6. Slide 6: BAUER Group: The three segments

    BAUER Group The three segments Construction Equipment Resources  Global provider for specialist  Market leader in specialist  Products & services related to foundation engineering services foundation equipment water, environment and natural resources.  Focus on complex, international  New produ

  7. Slide 7: Total Group Revenues

    Total Group Revenues Longstanding healthy business development in EUR million (segment after deducting Other/Consolidation) Total 1,656 1,800 1,600 Resources 218 1,400 1,200 Equipment 1,000 705 800 Construction 600 Overseas 551 400 200 Construction Domestic 0 182 1980 1983 1985 1987 1989 1991 1993 1

  8. Slide 8: Worldwide network

    Worldwide network More than 110 subsidiaries in about 70 countries Schrobenhausen 2.027 Permanent Offices: Construction Equipment sales Resources Equipment production Conroe 156 Tianjin 215 Kuala Lumpur 129 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 8

  9. Slide 9: Challenges of the world provide chances for the company

    BAUER Group Challenges of the world provide chances for the company Urbanization Infrastructure Water The megatrend urbanization leads to High demand for new infrastructure and The shortage of clean drinking water more complex inner-city solutions for restoration of existing structures is one of the

  10. Slide 10: Solutions for the biggest challenges and megatrends

    BAUER Group Solutions for the biggest challenges and megatrends Urbanization & Infrastructure Construction Equipment  Leading position in special  Market leader in specialist foundation engineering. foundation equipment.  Global activities with presence  Focus on specialized and in over 50 count

  11. Slide 11: Chances

    BAUER Group Chances Construction Equipment Resources  Growing construction markets  Growth potential in new markets  Full-service provider for products worldwide. and with specialized machines. and solutions related to water.  Huge pent-up demand in  Manufacture of customized deep  Ground-brea

  12. Slide 12: World construction markets

    World construction markets Bauer market potential Russia: - Germany: quite good. + Eastern Europe: slowly positive o Crisis regarding Ukraine; difficult to predict. USA / Canada: + development public demand, power plants, dams, etc. Western Europe: weak markets o Middle East: o Central Asia: good ma

  13. Slide 13: Global economic situation

    Global economic situation IMF projection of the real annual GDP growth in % 0.8 1.5 1.6 -1.8 1.3 2016 2017 1.8 1.9 2016 2017 -1.1 2.4 2.5 Russia Germany 2016 2017 2016 2017 CIS* 6.5 6.2 2016 2017 European Union United States 6.4 6.3 3.1 3.5 -3.8 -0.1 2016 2017 4.0 2016 2017 2016 2017 3.0 China Middl

  14. Slide 14: Table of Content

    Table of Content BAUER Group – Strategy, Chances & Markets Financials FY 2015 & Guidance Appendix 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 14

  15. Slide 15: Revenues, earnings & orders – Group

    Financials Revenues, earnings & orders – Group Revenues Order backlog in EUR million in EUR million Total Group revenues Sales revenues 995.6 1,800 1,656 1,000 1,560 1,436 1,504 1,402 785.0 765.2 762.7 1,344 1,376 1,379 1,350 750 900 500 450 250 0 0 2012 2013 2014 2015 2012 2013 2014 2015 Earnings O

  16. Slide 16: Revenues, earnings & orders – Segments

    Financials Revenues, earnings & orders – Segments Revenues Order intake in EUR million in EUR million Construction Equipment Resources Construction Equipment Resources 1,811 Total Group revenues 252.8 221.6 Total Group revenues of the 362 1,521 +57.3 % 345 342 +29.1 Sales revenues 195.9 179.3 Equipm

  17. Slide 17: Regional breakdown – Total Group revenues FY 2015

    Financials Regional breakdown – Total Group revenues FY 2015 in EUR million Total 1,656 Germany 474 (29 %) Africa 77 (4 %) Americas 297 (18 %) Full year 2014 in EUR million Germany 440 (28 %) Total 1,560 Asia-Pacific, Africa 62 (4 %) Far East & Australia Americas 172 (11 %) 348 (21 %) Asia-Pacific,

  18. Slide 18: Regional breakdown – Segments FY 2015

    Financials Regional breakdown – Segments FY 2015 Construction segment Equipment segment Resources segment in EUR million Total 733 Total 705 Total 218 Germany 182 (25 %) Germany 164 (23 %) Germany 128 (59 %) Africa 47 (6 %) Africa 20 (3 %) Africa 11 (5 %) Americas 172 (24 %) Americas 12 (5 %) Americ

  19. Slide 19: Working capital needs & net debt

    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 d

  20. Slide 20: Working capital needs & cash flow

    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 ca

  21. Slide 21: Income statement FY 2015

    Financials Income statement FY 2015 in EUR '000 12M/2014 12M/2015 ∆ in % Consolidated revenues (P&L) 1.506.019 1.587.946 5,4% Sales revenues (P&L) 1.375.679 1.378.991 0,2% Material costs -749.247 -752.532 0,4% Personnel expenses -355.250 -376.118 5,9% Depreciation and amortization of fixed assets -7

  22. Slide 22: Balance sheet December 31, 2015

    Financials Balance sheet December 31, 2015 in EUR '000 Dec. 31, 2014 Dec. 31, 2015 ∆ in % Assets 1.575.083 1.656.908 5,2% Intangible assets 34.440 27.455 -20,3% Property, plant and equipment 446.909 404.356 -9,5% Long term financial assets 74.939 151.521 n/a Other long term assets & deferred taxes 3

  23. Slide 23: Cash flow statement FY 2015

    Financials Cash flow statement FY 2015 in EUR '000 12M/2014 12M/2015 ∆ in % Cash flow from operating activities 115.398 32.425 -71,9% Cash flow from investing activities -47.452 -37.492 -21,0% Cash flow from financing activities -86.891 9.119 n/a Free Cash Flow 67.946 -5.067 n/a Changes in liquid fu

  24. Slide 24: Guidance 2016

    Guidance 2016 Business year without exceptional earnings expected BAUER Group 2015e 2015 final 2016e Total Group Revenues ~ 1,600 EUR million 1,656 EUR million ~ 1,650 EUR million EBIT ~ 75 EUR million 90.7 EUR million ~ 75 EUR million Earnings after tax ~ 18-23 EUR million 29.0 EUR million ~ 20-25

  25. Slide 25: Financial calendar 2016

    BAUER AG Financial calendar 2016 Publication Annual Report 2015 April 18, 2016 Annual Press Conference April 18, 2016 Analyst Conference April 18, 2016 Annual General Meeting June 23, 2016 Quarterly Statement Q1 2016 May 13, 2016 Half-Year Interim Report to June 30, 2016 August 12, 2016 Quarterly St

  26. Slide 26: Table of Content

    Table of Content BAUER Group – Strategy, Chances & Markets Financials 9M 2015 & Guidance Appendix 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 26

  27. Slide 27: The history – Two centuries of experience

    BAUER Group The history – Two centuries of experience 1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2015 1790 1900-1970 1980-1990 2000-2015 End of 1970’s: Early 1980’s: FY 2015: Start of Selling of equipment to 4. Jul 20

  28. Slide 28: BAUER Group: The three segments

    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 a

  29. Slide 29: Headquarters and plant Schrobenhausen, Germany

    BAUER Group Headquarters and plant Schrobenhausen, Germany 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 29

  30. Slide 30: What is specialist foundation?

    What is specialist foundation? Building an excavation pit Supporting Wall Ground Water Underpinning Injection Injection Anchor Pile Foundation Sealing Slab 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 30

  31. Slide 31: What is specialist foundation used for?

    What is specialist foundation used for? Applications for projects Buildings Infrastructure Water – Energy Industry Foundations Excavation pits Cut-off walls Ground improvement 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 31

  32. Slide 32: Construction: Dubai, Palm Jumeirah vibro-compaction

    Construction Dubai, VAE – Vibro-compaction work for “Palm Jumeirah” 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 32

  33. Slide 33: Construction: Doha, Mozoon Towers pit

    Construction Doha, Qatar – Construction pit for the Mozoon Towers 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 33

  34. Slide 34: Construction: Istanbul, Eurasia tunnel diaphragm wall

    Construction Istanbul, Turkey – Diaphragm wall for Eurasia tunnel 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 34

  35. Slide 35: Construction: Zwenkau, Harth canal

    Construction Zwenkau, Germany – Construction works for Harth canal © euroluftbild.de 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 35

  36. Slide 36: Drilling rigs (BG series) – ValueLine

    Equipment Product range: Drilling rigs (BG series) – ValueLine BG 20 BG 30 BG 38 ValueLine The BG ValueLine is a fully dedicated Kelly drilling rig. 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 36

  37. Slide 37: Drilling rigs (BG series) – PremiumLine

    Equipment Product range: Drilling rigs (BG series) – PremiumLine BG 20 BG 42 BG 50 PremiumLine Multi-purpose drilling rigs for various applications of foundation works. 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 37

  38. Slide 38: Duty-cycle cranes (MC series)

    Equipment Product range: Duty-cycle cranes (MC series) MC 64 MC 96 MC 128 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 38

  39. Slide 39: Deep Drilling (PR series)

    Equipment Product range: Deep Drilling (PR series) PR 440 M2 In order to meet the upcoming PR 200 market challenges, out-of-the-box thinking is necessary and therefore customized rig solutions are of growing importance. Based on more than 40 years of experience in engineering and manufacturing of dr

  40. Slide 40: Resources Segment: Pool of competences

    Resources Segment Pool of competences from a single hand Water Environment Natural Resources  Industrial Waste Water  Remediation  Exploration Drilling  Process & Produced Water  Landfill Restoration  Deep Geothermal Drilling  NORM  Decommissioning  Oil & Gas Drilling  Constructed Wetlands

  41. Slide 41: Resources Segment: The Competence Centers

    Resources Segment The Competence Centers Environment Natural Waste Treatment Resources & Disposal Water Drilling Constructed Water Well Techno- Wetlands Design & logies Remediation Construction Water Treatment Process Technology Beverage & Biotec 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529

  42. Slide 42: Resources Water – Process Water & Water Distribution

    Resources Water – Process Water & Water Distribution Management 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 42

  43. Slide 43: Resources Environment – Soil remediation in Germany

    Resources Environment – Soil remediation in Germany 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 43

  44. Slide 44: Reed Bed Water Treatment Plant in Oman

    Resources Environment – Reed Bed Water Treatment Plant in Oman 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 44

  45. Slide 45: Oil and Exploration Drilling in Jordan

    Resources Natural Resources – Oil and Exploration Drilling in Jordan 16-04-18 IR-Presentation_FY_2015 © BAUER AG, D-86529 Schrobenhausen 45

  46. Slide 46: Market environment – Germany

    Market environment – Germany German construction market 2015/ 2014/ 2015/ December 2015 Germany 1995 2013 2014 Employees in 1000 763,4 -45,9 0,1 0,8 Revenues in EUR billion 101,0 -13,6 4,1 1,6 Building construction 65,0 -17,6 4,5 1,4 Foundation engineering 36,0 -5,1 3,5 1,9 Orders received * in EUR

  47. Slide 47: BAUER share Facts & Figures

    BAUER share Facts & Figures Share performance (01/2015 – 03/2016)  Listed on Frankfurt stock exchange, Prime Standard, since July 4, 2006  Share capital EUR 73,001,420.45  Shares issued 17,131,000  Issue price EUR 16.75 Shareholder structure in EUR 2012 2013 2014 2015 2016 Earnings per share 1.4

  48. Slide 48: BAUER share Dividend policy

    BAUER share Dividend policy Dividend payment Dividend policy founded on a reasonable in EUR per share 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 in

  49. Slide 49: Key Figures Time Line FY 2008 – FY 2015

    Key Figures Time Line FY 2008 – FY 2015 Total Group Revenues 2008 2009 2010 2011 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15 Q3 15 Q4 15 2015 (in EUR million) BAUER Group 1.527,2 1.275,8 1.304,0 1.371,8 1.435,8 330,7 390,7 382,6 400,2 1.504,2 378,1 371,1 413,9 397,1 1.

  50. Slide 50: 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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