Slide 1: STRABAG SE January–June 2016 Results
STRABAG SE JANUARY–JUNE 2016 RESULTS 31 AUGUST 2016
Slide 2: Disclaimer
DISCLAIMER This presentation is made by STRABAG SE (the "Company") solely for This presentation contains forward-looking statements relating to the use at investor meetings and is furnished to you solely for your business, financial performance and results of the Company and/or the information. indu
Slide 3: Output volume down, order backlog up
OUTPUT VOLUME DOWN, ORDER BACKLOG UP OUTPUT VOLUME (€M) 20,000 ● Very high level last year 14,290 ● Lower output volume primarily in Germany, Hungary and RANC1) -8% 5,677 6,205 0 6M/16 6M/15 2015 ORDER BACKLOG (€M) 20,000 4% ● Increase in order backlog compared to end of 15,413 14,841 2015 and versu
Slide 4: EBITDA and EBIT positively impacted by one-off, underlying earnings better as well
EBITDA AND EBIT POSITIVELY IMPACTED BY ONE-OFF, UNDERLYING EARNINGS BETTER AS WELL EBITDA (€M) 850 816 ● Non-operating profit of € 27.81 million impacted EBITDA (+27 %) and EBIT 27% ● Large-scale projects and south-east European markets no longer a burden 157 124 ● EBITDA adj. by one-off: € 128.95 m
Slide 5: Earnings per share at € -0.24 after € -0.54 (+55%)
EARNINGS PER SHARE AT € -0.24 AFTER € -0.54 (+55%) NET INCOME AFTER MINORITIES (€M) EARNINGS PER SHARE (€) 200 2 156 1.52 55% 55% -25 -56 -0.24 -0.54 6M/16 6M/15 2015 6M/16 6M/15 2015 -200 -2 ● Net interest income moved from positive into negative territory ● Minority shareholders of Ed. Züblin AG h
Slide 6: Reduction of minority interests and corresponding decrease in cash
REDUCTION OF MINORITY INTERESTS AND CORRESPONDING DECREASE IN CASH ASSETS LIABILITIES AND EQUITY (€m) 6M/16 2015 (€m) 6M/16 2015 Intangible assets 505 511 Share capital 114 114 PP&E & investment property 1,985 1,895 Capital reserves 2,311 2,311 Associated companies 346 373 Retained earnings 427 614
Slide 7: Increased cash flow from earnings, but significantly higher working capital needs
INCREASED CASH FLOW FROM EARNINGS, BUT SIGNIFICANTLY HIGHER WORKING CAPITAL NEEDS (€m) 6M/16 ∆% 6M/15 Cash – beginning of period 2,727 43 1,906 Cash flow from earnings 125 56 80 ∆ Working Capital -748 -102 -370 Cash flow from operating activities -623 -115 -290 Cash flow from investing activities -1
Slide 8: North + West: contained losses as hydraulic engineering no longer a burden
NORTH + WEST: CONTAINED LOSSES AS HYDRAULIC ENGINEERING NO LONGER A BURDEN KEY INDICATORS COMMENTS (€m) 6M/16 ∆% 6M/15 ● Output volume -7%: relatively high last year 2,558 2,744 Output volume -7 ● Hydraulic engineering projects no longer a burden Revenue 2,417 -6 2,569 – EBIT improved by 22 % Order
Slide 9: South + East: earnings failed to repeat last year's relatively high level
SOUTH + EAST: EARNINGS FAILED TO REPEAT LAST YEAR’S RELATIVELY HIGH LEVEL KEY INDICATORS COMMENTS (€m) 6M/16 ∆% 6M/15 ● Output volume down by 10%: most of the decline accounted for by Hungary and RANC Output volume 1,699 -10 1,887 1,644 ● EBIT at € 7 million after last year’s relatively high Revenue
Slide 10: International + Special Divisions: business outside of Europe hampered by low oil price
INTERNATIONAL + SPECIAL DIVISIONS: BUSINESS OUTSIDE OF EUROPE HAMPERED BY LOW OIL PRICE KEY INDICATORS COMMENTS (€m) 6M/16 ∆% 6M/15 ● Output volume shrank by 10%, especially in Italy and 1,359 1,506 non-European markets Output volume -10 Revenue 1,238 -9 1,356 ● EBIT turned into a slightly positive
Slide 11: EBIT outlook 2016 reiterated
EBIT OUTLOOK 2016 REITERATED ● Slightly lower output volume expected (2015: € 14.3 billion) ● EBIT margin (EBIT/revenue) of 3% from 2016 onwards 6M/2016, August 2016 1 Page 11
Slide 12: STRABAG SE January–June 2016 Results
STRABAG SE JANUARY–JUNE 2016 RESULTS 31 AUGUST 2016