BAUER Aktiengesellschaft · HAM:B5A0

BAUER Aktiengesellschaft — FY2011 Earnings Presentation

54 slides from BAUER Aktiengesellschaft's earnings presentation, Apr 13, 2012

  1. Slide 1: BAUER Aktiengesellschaft Analyst Conference fiscal year 2011

    BAUER Aktiengesellschaft Analyst Conference fiscal year 2011 Munich, April 13, 2012 In-house exhibition in Schrobenhausen, Germany 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen

  2. Slide 2: Key Figures FY 2011

    Key Figures FY 2011 Total Group revenues (in EUR million) Net profit (in EUR million) 1,527 1,276 1,304 1,372 107.5 42.0 39.8 34.1 1,600 120 1,200 90 800 60 400 30 0 0 2008 2009 2010 2011 2008 2009 2010 2011 Orders in hand (in EUR million) Employees (in average) 671.6 508.9 614.9 750.0 8,674 8,872 9

  3. Slide 3: Mission & Strategy

    Mission & Strategy Our mission Services, equipment & products dealing with ground and groundwater Our strategy  The world is our market.  World market leadership for foundation technology.  Powerful development of drilling applications and related services for resources, water and energy markets.

  4. Slide 4: Key Figures FY 2011

    Key Figures FY 2011 2010 2011 ∆ FY Q4 2011 in EUR million in EUR million in % in EUR million Total Group revenues, of which 1,304.0 1,371.8 5.2 % 362.9 - Germany 339.1 370.3 9.2 % 106.7 - International 964.9 1,001.5 3.8 % 256.2 - Construction 615.4 582.1 - 5.4 % 166.4 - Equipment 581.7 661.0 13.6 %

  5. Slide 5: Contents

    Contents 1 Overview BAUER Group p. 6 2 BAUER market environment p. 13 3 Regional breakdown of Revenues p. 15 4 Financials 2011 p. 17 5 BAUER share p. 25 6 Guidance 2012 p. 27 7 Appendix: Current projects & investments p. 28 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrob

  6. Slide 6: BAUER Group: The three segments

    1 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

  7. Slide 7: What is specialist foundation?

    1 What is specialist foundation? Building an excavation pit Supporting Wall Ground Water Underpinning Injection Injection Anchor Pile Foundation Sealing Slab 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 7

  8. Slide 8: What is specialist foundation used for?

    1 What is specialist foundation used for? Applications for projects Buildings Infrastructure Water – Energy Industry Foundations Excavation pits Cut-off walls Ground improvement 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 8

  9. Slide 9: Resources Segment

    1 Resources Segment The three divisions Materials Exploration & Mining Environment about 32 % of revenues* Services about 45 % of revenues* about 23 % of revenues* Full-line provider for  Production drilling  Disposal of polluted areas materials in the field of (for example: water wells)  Cleanin

  10. Slide 10: Total Group Revenues

    1 Total Group Revenues Longstanding healthy business development in EUR million (segment after decucting Other/Consolidation) Total 1.372 Financial crisis Resources 209 Equipment 601 Far East crisis German reunification Construction Overseas 405 Construction Domestic 157 Note: 2000 – 2002 based on H

  11. Slide 11: Worldwide network

    1 Worldwide network More than 110 subsidiaries in about 70 countries Permanent Offices: Construction Equipment sales BAUER Maschinen KSM, Resources Kurgan, Russia Equipment production locations Shanghai BAUER Technologies, Shanghai, China BAUER Manufacturing Inc. BAUER Group, plant Edelshausen near

  12. Slide 12: Strengths & Chances

    1 BAUER Group Strengths & Chances Strengths  Strategic business model with three forward-looking segments providing high level of synergies.  Global network organisation with flexible, decentralized management.  World market leader in foundation equipment with innovative strength in enhancing exi

  13. Slide 13: World construction markets

    2 World construction markets Bauer market potential Western Europe: Eastern Europe: declining markets, Germany slowly positive development, weak for big projects especially Russia + + - + - USA / Canada: Far East: stimulus packages, positive development public demand, power plants, dams, etc. + + in

  14. Slide 14: Market environment: Orders & Currency risks

    2 Market environment Orders & Currency risks Order backlog (Orders in hand) Currency Risks FY 2011 Reach in months Construction in relation to total  Project size EUR 100,000 up to EUR 70 million Group revenues full year 2011  ~ 50 / 50 infrastructure / large industrial buildings  ~ 600 projects

  15. Slide 15: Regional breakdown

    3 Regional breakdown Total Group revenues 2011 in EUR million Germany 370 (27 %) Total 1,372 Africa 67 (5 %) Americas 191 (14 %) Asia-Pacific, Far East & Australia Full year 2010 292 (21 %) in EUR million Germany 339 (26 %) Total 1,304 Africa 70 (5 %) Americas 155 (12 %) Asia-Pacific, Far East & Aus

  16. Slide 16: Regional breakdown by segment

    3 Regional breakdown Construction, Equipment, Resources 2011 Construction segment Equipment segment Resources segment in EUR million Total 562 Total 601 Total 209 Germany 157 (28 %) Germany 111 (19 %) Germany 102 (49 %) Africa 36 (6 %) Africa 14 (2 %) Africa 17 (8 %) Americas 77 (14 %) Americas 112

  17. Slide 17: Revenues, earnings & orders

    4 Financials Revenues, earnings & orders Revenues (in EUR million) Orders in hand (in EUR million) Total Group revenues Sales revenues 1,527 1,600 800 750.0 1,372 671.6 1,291 1,276 1,304 1,132 1,220 614.9 1,200 600 1,096 508.9 800 400 400 200 0 0 2008 2009 2010 2011 2008 2009 2010 2011 Earnings (in

  18. Slide 18: Working capital needs & net debt

    4 Financials Working capital needs & net debt Net working capital (in EUR million) Bauer’s business model with its three segments requires considerably more working capital than 640 other companies in construction markets. 480  Changes during the year: 320 - Levels in balance sheet and income state

  19. Slide 19: Working capital needs & cash flow

    4 Financials Working capital needs & cash flow Building construction  Construction segment: EUR Positive cash contribution - Construction contracts with short duration need approx. 2 - 3 months pre-financing (no advance payments, no front-loading of prices possible, comparably long time needed for

  20. Slide 20: Revenues Q4 / FY 2011

    4 Financials Revenues Q4 / FY 2011 in EUR '000 Q4 2010 Q4 2011 ∆ Q4 in % FY 2010 FY 2011 ∆ FY in % Total Group revenues 341,402 362,890 6.3% 1,304,017 1,371,831 5.2% Sales revenues, Construction 94,785 122,528 29.3% 505,758 482,658 -4.6% Sales revenues, Equipment 148,320 173,427 16.9% 469,252 534,99

  21. Slide 21: Earnings Q4 / FY 2011

    4 Financials Earnings Q4 / FY 2011 in EUR '000 Q4 2010 Q4 2011 ∆ Q4 in % FY 2010 FY 2011 ∆ FY in % EBITDA 55,339 52,014 -6.0% 165,517 164,496 -0.6% Margin (a) 19.3% 15.1% n/a 14.6% 13.5% n/a EBIT 32,527 30,791 -5.3% 88,355 82,300 -6.9% EBIT margin (a) 11.3% 8.9% n/a 7.8% 6.7% n/a EBIT Construction s

  22. Slide 22: Income statement FY 2011

    4 Financials Income statement FY 2011 in EUR '000 Dec 31, 2010 Dec 31, 2011 ∆ FY in % Consolidated revenues (P&L) 1,255,600 1,327,085 5.7% Sales revenues (P&L) 1,131,673 1,219,587 7.8% Material costs -626,952 -672,807 7.3% Personnel costs -282,506 -298,761 5.8% Depreciation and amortization of fixed

  23. Slide 23: Balance sheet December 31, 2011

    4 Financials Balance sheet December 31, 2011 in EUR '000 Dec 31, 2010 Dec 31, 2011 ∆ FY in % Assets 1,337,749 1,487,450 11.2% Intangible assets 23,261 30,303 30.3% Property, plant and equipment 441,737 458,572 3.8% Long term financial assets 14,528 18,635 28.3% Other long term assets & deferred taxe

  24. Slide 24: Cash flow statement FY 2011

    4 Financials Cash flow statement FY 2011 in EUR '000 Dec 2010 Dec 2011 ∆ FY in % Cash flow from operating activities 45,342 8,459 -81.3% Cash flow from investing activities -75,518 -84,656 n/a Cash flow from financing activities 17,850 73,466 n/a Free Cash Flow -30,176 -76,197 n/a Changes in liquid

  25. Slide 25: BAUER share: Facts & Figures

    5 BAUER share Facts & Figures  Listed on Frankfurt stock exchange, Share performance (2011 – YTD 2012) Prime Standard since July 4, 2006 DAX  Shares issued 17,131,000 SDAX  Issue price EUR 16.75 BAUER AG  Listed in SDAX (MDAX from 22.09.2008 to 19.09.2010) Trading volume  Earnings per share 201

  26. Slide 26: BAUER share: Dividend policy

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

  27. Slide 27: Guidance 2012

    5 Guidance 2012 Top-line growth with stable profitability 2011e* 2011 final 2012e Total Group Revenues ~ 1,350 EUR billion 1,372 EUR million ~ 1,450 EUR billion EBIT ~ 80 EUR million 82.3 EUR million ~ 85 EUR million Net profit > 30 EUR million 34.1 EUR million ~ 35 EUR million * Guidance published

  28. Slide 28: Current BAUER projects & investments

    Current BAUER projects & investments BAUER Equipment Malaysia – new workshop & service center 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen

  29. Slide 29: Investments – Singapur

    Investments – Singapur New service center of BAUER Technologies Far East 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen

  30. Slide 30: Construction project – Abu Dhabi, U.A.E

    Construction project – Abu Dhabi, U.A.E Foundation works for Presidential Palace 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 30

  31. Slide 31: Construction project – New Brunswick, Canada

    Construction project – New Brunswick, Canada Bridge foundation for Route 1 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 31

  32. Slide 32: Construction project – Okeechobee, USA (Florida)

    Construction project – Okeechobee, USA (Florida) Remediation of Herbert Hoover Dike 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 32

  33. Slide 33: Construction project – Sochi, Russia

    Construction project – Sochi, Russia Infrastructure works for Olympic Games 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 33

  34. Slide 34: Construction project – Republic of Moldova

    Construction project – Republic of Moldova Expansion of Giurgiulesti Port 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 34

  35. Slide 35: Construction project – Munich, Germany

    Construction project – Munich, Germany Tunnel for Mittlerer Ring 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 35

  36. Slide 36: Construction project – Bielefeld, Germany

    Construction project – Bielefeld, Germany Foundation works for the university 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 36

  37. Slide 37: Schachtbau Nordhausen

    Schachtbau Nordhausen Bridge construction A10 near Brieselang, Germany 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 37

  38. Slide 38: SPESA Spezialbau und Sanierung GmbH

    SPESA Spezialbau und Sanierung GmbH Reconstruction of the brick wall of Sengbachtal dam 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 38

  39. Slide 39: In-house exhibition 2011 – Schrobenhausen

    In-house exhibition 2011 – Schrobenhausen About 1.700 customers from all over the world 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 39

  40. Slide 40: TBA 300 / TBA 300 440 M1

    TBA 300 TBA 300 / 440 M1 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 40

  41. Slide 41: BSD 3000 – Orkney Islands, Scotland

    BSD 3000 – Orkney Islands, Scotland Monopile foundation for a tidal energy turbine at EMEC 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 41

  42. Slide 42: BSD 3000 – Orkney Islands, Scotland

    BSD 3000 – Orkney Islands, Scotland Monopile foundation for a tidal energy turbine at EMEC 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 42

  43. Slide 43: BSD 3000 – Orkney Islands, Scotland

    BSD 3000 – Orkney Islands, Scotland Monopile foundation for a tidal energy turbine at EMEC 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 43

  44. Slide 44: BAUER Resources – Environment: Nimr Oman Phase I

    BAUER Resources – Environment BAUER Nimr Oman – Process water treatment – Phase I Buffer zone 1,8 km 3,3 km Reed bed Camp Evaporation pond / Production of salt Pipeline Corridor Volume of water - 45.000 m³/d 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 44

  45. Slide 45: BAUER Resources – Environment: Nimr Oman

    BAUER Resources – Environment BAUER Nimr Oman – Process water treatment One third of total area (6 km2) visible 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 45

  46. Slide 46: BAUER Resources – Environment: Nimr Oman

    BAUER Resources – Environment BAUER Nimr Oman – Process water treatment One third of total area (6 km2) visible 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 46

  47. Slide 47: BAUER Resources – Environment: Nimr Oman

    BAUER Resources – Environment BAUER Nimr Oman – Process water treatment Global Water Award 2011 Industrial Water Project of the Year One third of total area (6 km2) visible 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 47

  48. Slide 48: BAUER Nimr Oman – Process water treatment Phase II

    BAUER Resources – Environment BAUER Nimr Oman – Process water treatment – Phase II • Volume of water after extension: ~ 90.000 m³/d • Building phase until beginning of 2013 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 48

  49. Slide 49: BAUER Resources – Environment: Nimr Oman

    BAUER Resources – Environment BAUER Nimr Oman – Process water treatment 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 49

  50. Slide 50: BAUER Resources – Exploration & Mining Services

    BAUER Resources – Exploration & Mining Services Disi Amman, Jordan 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 50

  51. Slide 51: BAUER Resources – Environment: Guadalajara, Spain

    BAUER Resources – Environment Guadalajara, Spain – BASF 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 51

  52. Slide 52: BAUER Resources – Exploration and Mining Services

    BAUER Resources – Exploration and Mining Services Oil shale exploration in Jordan 12-04-13 IR-Presentation_AnalystConference_FY2011 © BAUER AG, D-86529 Schrobenhausen 52

  53. Slide 53: BAUER Aktiengesellschaft: Financial calendar 2012

    BAUER Aktiengesellschaft Financial calendar 2012 Publication Annual Report 2011 April 13, 2012 Annual Press Conference April 13, 2012 Analyst Conference April 13, 2012 Annual General Meeting June 28, 2012 Interim Report to March 31, 2012 May 15, 2012 Half-Year Interim Report to June 30, 2012 August

  54. Slide 54: 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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