Slide 1: STRABAG SE FY 2020 Results
STRABAG SE FY 2020 RESULTS 30 APRIL 2021
Slide 2: Disclaimer
DISCLAIMER This presentation is made by STRABAG SE (the "Company") solely for information or statistics should not be interpreted as having been adopted use at investor meetings and is furnished to you solely for your or endorsed by the Company as being accurate. information. This presentation conta
Slide 3: 2020: Diversification and regionality helped balancing Covid-19 effects
2020: DIVERSIFICATION AND REGIONALITY HELPED BALANCING COVID-19 EFFECTS ORDER BACKLOG (€M) OUTPUT VOLUME (€M) +5% -7% 20,000 20,000 18,369 16,618 16,592 16,900 17,411 16,323 14,621 15,447 14,816 13,491 0 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 EBIT (€M) AND EBIT MARGIN (%) (PROPOSED) DIV
Slide 4: Decline in output volume lower than predicted
DECLINE IN OUTPUT VOLUME LOWER THAN PREDICTED OUTPUT VOLUME (€M) 20,000 -7% ● Loss of a key client in Germany in property & 16,618 15,447 facility services as from 1 July 2019 onwards ● Performance and completion of tunnelling projects ● Temporary suspension of construction activity due to the Covid
Slide 5: Increase in order backlog despite crisis
INCREASE IN ORDER BACKLOG DESPITE CRISIS ORDER BACKLOG (€M) 20,000 18,369 +5% 17,411 ● Strong growth in Germany, especially in transportation infrastructures ● Increases also in other core markets like Czech Republic and Slovakia ● Large-scale projects in Great Britain ● Declines in Austria, Poland
Slide 6: EBITDA topping €1 billion mark for the second time
EBITDA TOPPING € 1 BILLION MARK FOR THE SECOND TIME EBITDA (€M) AND EBITDA MARGIN (%) 1,500 +5% ● Improvement of EBITDA margin from 1,174 1,113 7.1 % to 8.0 % 8.0% 7.1% 0 2020 2019 EBIT (€M) AND EBIT MARGIN (%) 1,000 +5% ● Depreciation and amortisation higher as a result of the high investments in p
Slide 7: Earnings per share rose by 6%
EARNINGS PER SHARE ROSE BY 6% NET INCOME A. MINORITIES (€M) & MARGIN (%) EARNINGS PER SHARE (€) 500 +6% 5 +6% 395 3.85 372 3.62 2.7% 2.4% 2.4% 2.3% 0 0 2020 2019 2020 2019 ● Improvement of net interest income due to lower interest expenses for personnel-related provisions, i.a. ● Income tax rate sto
Slide 8: Net cash increased to an exceptional level of €1.7 billion
NET CASH INCREASED TO AN EXCEPTIONAL LEVEL OF € 1.7 BILLION NET DEBT (+)/NET CASH (-) (€M) EQUITY RATIO (%) 2,000 40% 33.9 31.5 30.7 31.6 31.5 0 -449 -1,218 -1,144 -1,335 -2,000 -1,747 0% 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 ● Equity exceeded the € 4 billion mark for the first time, equ
Slide 9: Cash and cash equivalents of €2.9 billion
CASH AND CASH EQUIVALENTS OF € 2.9 BILLION (€m) 2020 ∆% 2019 Cash – beginning of period 2,460 3 2,384 Cash flow from earnings 930 9 851 ∆ Working Capital 350 55 225 Cash flow from operating activities 1,280 19 1,076 Cash flow from investing activities -350 41 -593 Cash flow from financing activities
Slide 10: Again cash inflow in 2HY/2020
AGAIN CASH INFLOW IN 2HY/2020 WORKING CAPITAL PATTERN: CASH OUTFLOWS IN 1HY; INFLOWS IN 2HY (€M) 1,200 989 775 557 430 322 0 -278 -295 -207 -550 -748 -1,200 1HY 2016 2HY 2016 1HY 2017 2HY 2017 1HY 2018 2HY 2018 1HY 2019 2HY 2019 1HY 2020 2HY 2020 COMMENTS ● Working capital outflows generally occur o
Slide 11: Reduced investments lead to high free cash flow
REDUCED INVESTMENTS LEAD TO HIGH FREE CASH FLOW Δ WORKING CAPITAL (€M) CFO VS. CFI (€M) CFI VS. DEPRECIATION (€M) 800 1,500 1,500 1,500 1,280 1,076 789 350 641 593 641 593 511 544 225 394 350 350 135 0 0 0 2018 2019 2020 2018 2019 2020 2018 2019 2020 CFO CFI CFI Depreciation ● Free Cash Flow increas
Slide 12: North + West: Crisis-proof thanks to stable core markets
NORTH + WEST: CRISIS-PROOF THANKS TO STABLE CORE MARKETS KEY INDICATORS COMMENTS (€m) 2020 Δ% 2019 ● Output volume -3 % over the past year Output volume 7,863 -3 8,107 ● EBIT grew by 31 % thanks to strong growth in 7,462 -1 7,556 German infrastructure business as well as building Revenue constructio
Slide 13: South + East: Improved earnings with a simultaneous decline in output volume
SOUTH + EAST: IMPROVED EARNINGS WITH A SIMULTANEOUS DECLINE IN OUTPUT VOLUME KEY INDICATORS COMMENTS (€m) 2020 Δ% 2019 ● Output volume down by 6 %, particularly sharp decline in Austria due to lockdown in March Output volume 4,633 -6 4,916 4,603 -6 4,880 ● EBIT grew by 45 %, besides Austria hardly a
Slide 14: International + Special Divisions: Business sectors affected very differently by the crisis
INTERNATIONAL + SPECIAL DIVISIONS: BUSINESS SECTORS AFFECTED VERY DIFFERENTLY BY THE CRISIS KEY INDICATORS COMMENTS (€m) 2020 Δ% 2019 ● Output volume fell by 19 %: Output volume 2,812 -19 3,451 − loss of major property & facility services client in 2,670 -17 3,217 Germany Revenue Order backlog 4,763
Slide 15: Outlook for 2021: Cautiously optimistic
OUTLOOK FOR 2021: CAUTIOUSLY OPTIMISTIC ● Output volume slightly above 2020 level ● EBIT margin back to normal, below 4.0 % ● Segment outlook: − North + West: stable at high level − South + East: recovery of output volume compared to 2020 − International + Special Divisions: Covid-19 crisis also pre
Slide 16: Appendix
@® APPENDI = e SOCIETAS EUROPAEA
Slide 17: Flexible business model, selective diversity
FLEXIBLE BUSINESS MODEL, SELECTIVE DIVERSITY OUTPUT VOLUME (€M) ORDER BACKLOG (€M) 20,000 20,000 18,369 16,618 16,592 16,900 17,411 16,323 14,621 15,447 14,816 13,491 0 0 2016 2017 2018 2019 2020 2016 2017 2018 2019 2020 EBITDA (€M) AND EBITDA MARGIN (%) EBIT (€M) AND EBIT MARGIN (%) 1,500 20% 700 6
Slide 18: Equity ratio increases to 34%
EQUITY RATIO INCREASES TO 34% ASSETS1 EQUITY AND LIABILITIES1 (€m) 2020 2019 (€m) 2020 2019 Intangible assets 483 491 Share capital 110 110 Rights from concession Capital reserves 2,315 2,315 arrangements 512 530 Retained earnings 1,661 1,397 PP&E & investment property 2,571 2,632 Non-controlling in
Slide 19: Group income statement 2020
GROUP INCOME STATEMENT 2020 (€m) 2020 2019 Δ% Output volume 15,446.61 16,617.97 -7 Revenue 14,749.74 15,668.57 -6 Changes in inventories/own work capitalised 23.46 31.36 -25 Other operating income 205.81 233.14 -12 Construction materials, consumables and services used -9,304.35 -10,111.85 8 Employee
Slide 20: Group income statement 2020 (cont.)
GROUP INCOME STATEMENT 2020 (CONT.) (€m) 2020 2019 Δ% EBITDA 1,174.45 1,113.30 5 Margin (%) 8.0 7.1 Depreciation and amortisation -543.80 -510.71 -6 EBIT 630.65 602.58 5 Margin (%) 4.3 3.8 Net interest income -20.60 -25.34 19 Income tax expense -210.99 -198.68 -6 Net income 399.06 378.56 5 Attributa
Slide 21: Your questions, please
STRABAG SE FY 2020 RESULTS YOUR QUESTIONS, PLEASE 30 APRIL 2021