BAUER Aktiengesellschaft · HAM:B5A0
BAUER Aktiengesellschaft — 9M/Q3 2021 Earnings Presentation
47 slides from BAUER Aktiengesellschaft's earnings presentation, Nov 11, 2021
Slide 1: Group Presentation 9M/Q3 2021
Investor Relations Group Presentation 9M/Q3 2021 BAUER AG November 11, 2021
Slide 2: Overview
1 Overview ▪ BAUER Group ▪ Highlights 9M/Q3 2021 2
Slide 3: Three closely interlinked segments – a business model with a future
BAUER Group Three closely interlinked segments – a business model with a future Mission The BAUER Group is a leading provider of services, equipment & products dealing with ground and groundwater Construction Equipment Resources Global provider for One of the technical leading manufacturer Products
Slide 4: 9M 2021 – Ongoing strong influence of COVID-19 pandemic
Highlights 9M 2021 – Ongoing strong influence of COVID-19 pandemic Total Group revenues EBIT* Earnings after tax Order backlog Equity EUR 1,149.6 million EUR 24.1 million EUR -5.9 million EUR 1,271 million EUR 454.8 million (+4.7%) (EUR 29.8 million) (EUR -13.2 million) (+5.9%) (+29.1%) Significant
Slide 5: Financials
2 Financials ▪ Overview: Market environment and course of business ▪ Working capital & Net debt ▪ Capital increase 2021 5
Slide 6: Key figures 9M 2021
Financials Key figures 9M 2021 in EUR million 9M 2020* 9M 2021 ∆ 9M in % Total Group revenues 1,098.2 1,149.6 +4.7% Construction 468.3 517.6 +10.5% Equipment 456.0 483.6 +6.0% Resources 224.4 208.2 -7.2% Other/Consolidation -50.5 -59.8 n/a Sales revenues 990.8 1,044.3 +5.4% Order intake 1,270.2 1,25
Slide 7: Revenues & Earnings – Group
Financials Revenues & Earnings – Group Revenues Development 9M 2021 in EUR million Total Group revenues Sales revenues ▪ Slight increase of total Group revenues in a still difficult market ∆ 9M 2,000 +4.7% environment 1,595 +5.4% 1,600 1,471 1,454 ▪ Correspondingly, sales revenues were also above pr
Slide 8: Order situation – Group
Financials Order situation – Group Order intake Development 9M 2021 in EUR million ▪ Order intake slightly decreased on Group level 1,609 1,589 ▪ Equipment segment increased order intake Q4 321 318 -1.0% Q3 450 297 374 ▪ Decrease in Construction and Resources segments, because of the very high 2020
Slide 9: Construction segment
Financials Construction segment Market environment 9M 2021 and course of business ▪ Construction continued to be influenced by the effects of the COVID-19 pandemic ▪ Markets in Europe and the USA positive, good workload in the Middle East due to a major order in Jordan. ▪ Stricter restrictions in so
Slide 10: Equipment segment
Financials Equipment segment Market environment 9M 2021 and course of business ▪ The increase in revenues and earnings only demonstrates a slight improvement. ▪ The customers’ reluctance to invest, resulting from the uncertainty and disruptions caused by the COVID-19 pandemic is still ongoing. ▪ Par
Slide 11: Resources segment
Financials Resources segment Market environment 9M 2021 and course of business ▪ Resources segment still relatively unaffected by the pandemic ▪ Revenue decrease compared to 9M 2020 is related to the major Kesslergrube project, which was handed over to the client in July 2020 ▪ Earnings increased st
Slide 12: Working Capital, liabilities to banks & net debt – Group
Financials Working Capital, liabilities to banks & net debt – Group Working Capital Development 9M 2021 in EUR million ▪ Positive development ongoing in first nine months 2021 800 726 700 ▪ Measures to optimize working capital take effect: stable inventories level; receivables and other assets incre
Slide 13: Markets & Regions
3 Markets & Regions ▪ Markets ▪ Regional distribution 13
Slide 14: Construction market environment vs. order backlog
BAUER Group Construction market environment vs. order backlog Europe USA / Canada Germany o Market: Western European countries affected by + Market: good construction + Market: still a good market coronavirus; slow development market despite coronavirus; in Eastern Europe; Russia very increasing dem
Slide 15: Total Group revenues 9M 2021 – Group
Regional breakdown Total Group revenues 9M 2021 – Group Total 1,150 in EUR million Germany 359 (31%) Europe 227 (20%) Full year 2020 Middle East 126 (12%) Total 1.098 Africa 52 (5%) in EUR million America 187 (17%) Germany 332 (30%) Asia-Pacific, Far East & Australia 162 (15%) Middle East & Asia-Pac
Slide 16: Total Group revenues 9M 2021 – Segments
Regional breakdown Total Group revenues 9M 2021 – Segments Construction segment Equipment segment Resources segment Total 504 Total 441 Total 205 in EUR million Germany 102 (20%) Germany 110 (25%) Germany 148 (72%) Europe 81 (16%) Europe 126 (28%) Europe 20 (10%) Middle East Middle East Middle East
Slide 17: Outlook
4 Outlook ▪ Forecast 2021 ▪ Megatrends & focus topics ▪ Financial ambition for 2023 17
Slide 18: Forecast 2021 adjusted – Increase in revenues but decrease in earnings
BAUER Group Forecast 2021 adjusted – Increase in revenues but decrease in earnings Construction Equipment Resources ▪ High demand for infrastructure ▪ Investments expected to pick up from ▪ Measures 2020 are the basis for the ▪ Still strong influence of COVID-19 mid-2021 onwards realignment pandemic
Slide 19: A look into the future
BAUER Group A look into the future Megatrends Our focus topics ▪ Exploiting opportunities in global fields of the future ▪ Megatrends open up attractive potential worldwide ▪ Leveraging synergies between the segments ▪ The three segments Construction, Equipment and Resources enable an interlinking o
Slide 20: Financial ambition – mid-term perspective for year-end 2023
BAUER Group Financial ambition – mid-term perspective for year-end 2023 Key topics Mid-term financial targets ▪ Sustainable profit improvement is our main focus for the next ▪ Growth: 3 - 5% (CAGR) years ▪ Top line growth is not our primary focus ▪ EBIT margin: ▪ Target is a healthy & strong balance
Slide 21: Appendix
5 Appendix ▪ BAUER Group ▪ Executive Board ▪ The three segments ▪ Financials ▪ BAUER share ▪ Financial calendar & IR contact 21
Slide 22: Longstanding healthy business development
BAUER Group Longstanding healthy business development Total Group revenues in EUR million (segment after deducting Other/Consolidation) Total 1,454 1,800 1,600 Resources 1,400 265 1,200 Equipment 546 1,000 800 Construction 600 Overseas 501 400 200 Construction Domestic 142 0 1980 1984 1988 1992 1996
Slide 23: The three segments
BAUER Group The three segments ▪ Target: ~ 40 % of ▪ Target: ~ 20 % of total Group revenues total Group revenues ▪ Market leader in specialist ▪ Innovative products and foundation equipment services in the fields of drilling services and water ▪ Specialized products for wells, environmental mining,
Slide 24: Worldwide network
BAUER Group Worldwide network Permanent Offices: Construction Equipment sales Resources Equipment production Conroe Schrobenhausen Tianjin Kuala Lumpur 24
Slide 25: The history – Over two centuries of experience
BAUER Group The history – Over two centuries of experience Dipl.-Ing. Dr.-Ing. Prof. Dr. Dipl.-Kfm. Karl Bauer Karlheinz Bauer Thomas Bauer 1790 - 1956 1958 - 1990 1992 - 2008 2009 - 2020 ▪ 1790 Sebastian Bauer acquires a ▪ 1958 Invention of the injection anchor on the ▪ 1992 Takeover of SCHACHTBAU
Slide 26: Executive Board
BAUER AG Executive Board Michael Stomberg (CEO) Florian Bauer Hartmut Beutler (CFO) Peter Hingott ▪ Digitalization ▪ Financing & Treasury ▪ Group Controlling & Accounting ▪ Technology ▪ Human Resources 26
Slide 27: Construction segment Overview
Construction segment Overview Key facts ▪ About 50 small-/mid-size local companies around the world ▪ Focus on complex, international projects ▪ About 400 to 500 projects per year with a 50/50 infrastructure/industrial split ▪ Figures are somewhat cyclical between the quarters – focus on the entire
Slide 28: What is specialist foundation? Building an excavation pit
What is specialist foundation? Building an excavation pit Mixed-In-Place Method Diaphragm and Cut-off Wall Piling Retaining Ground Anchor Wall Permeation Grouting Pile Foundation 28
Slide 29: What is specialist foundation used for? Applications
What is specialist foundation used for? Applications Excavation Pits Cut-off-Walls Foundations Soil Improvement ... for every problem and requirement … as solution for dams and dikes …for the highest buildings in the world … allows projects on weak ground 29
Slide 30: Construction segment Arab Potash, Dead Sea, Jordan
Construction segment Arab Potash, Dead Sea, Jordan 30
Slide 31: Construction segment Operaparken, Copenhagen, Denmark
Construction segment Operaparken, Copenhagen, Denmark 31
Slide 32: Equipment segment Overview
Equipment segment Overview Key facts ▪ Provider for the full range of equipment for specialist foundation engineering as well as for the exploration, mining and extraction of natural resources ▪ Multi-branding strategy ▪ About 80% of sales abroad Market environment ▪ Growing construction markets wor
Slide 33: Equipment segment Whole range of products for special foundation engineering
Equipment segment Whole range of products for special foundation engineering 33
Slide 34: Resources segment Overview
Resources segment Overview Key facts ▪ Three focus topics: water, environment, natural resources ▪ Competence areas: water treatment, environmental remediation, waste management, drilling technologies and constructed wetlands ▪ Focus on key markets: Germany, Europe & Middle East Market environment ▪
Slide 35: Groundwater treatment on industrial area, Leuna, Germany
Resources segment Groundwater treatment on industrial area, Leuna, Germany 35
Slide 36: World's largest reed bed treatment plant, Nimr, Oman
Resources segment World's largest reed bed treatment plant, Nimr, Oman 36
Slide 37: Income statement 9M 2021
Financials Income statement 9M 2021 in EUR '000 Q3 2020* Q3 2021 9M 2020* 9M 2021 ∆ 9M in % Sales revenues (P&L) 342,297 358,851 990,824 1,044,315 5.4% Consolidated revenues (P&L) 354,546 365,209 1,060,122 1,101,999 4.0% Cost of materials -150,940 -187,576 -501,231 -559,429 11.6% Personel expenses -
Slide 38: Balance sheet as of September 30, 2021
Financials Balance sheet as of September 30, 2021 in EUR '000 Dec 31, 2020 Sep. 30, 2020* Sep. 30, 2021 ∆ Sep. in % Assets 1,543,985 1,646,885 1,665,843 1.2% Non-current assets 641,541 668,713 657,125 -1.7% Intangible assets 14,598 21,495 14,617 -32.0% Property, plant and equipment and investment pr
Slide 39: Cash flow statement 9M 2021
Financials Cash flow statement 9M 2021 in EUR '000 9M 2020 9M 2021 ∆ in % Cash flow from operational activity 30,840 -22,277 n/a Cash flow from investment activity -64,176 -67,728 5.5% Cash flow from financing activity 50,456 81,800 62.1% Free Cash Flow -33,336 -90,005 n/a Changes in liquid funds af
Slide 40: Working capital & net debt – Financing of future revenues
Financials Working capital & net debt – Financing of future revenues Key facts ▪ Bauer’s business model requires considerably more working capital than building construction companies ▪ Net debt is needed to pre-finance the operating business (working capital) ▪ Working capital mainly consists of In
Slide 41: Working capital needs – Comparison with building construction
Financials Working capital needs – Comparison with building construction Specialist foundation engineering Building construction ▪ Pre-financing need ▪ Positive cash contribution ▪ Construction contracts with short duration need ▪ Construction contracts with long durations ▪ No advance payments, no
Slide 42: Time line – FY 2008 to Q3 2021
Financials Time line – FY 2008 to Q3 2021 Total Group revenues in EUR million 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Q1 18 Q2 18 Q3 18 Q4 18 2018 Q1 19 Q2 19 Q3 19 Q4 19 2019 Q1 20 Q2 20 Q3 20 Q4 20 2020 Q1 21 Q2 21 Q3 21 BAUER Group 1,527.2 1,275.8 1,304.0 1,371.8 1,435.8 1,504.2 1,560.2
Slide 43: BAUER share Facts & Figures
BAUER share Facts & Figures Shareholder structure Share performance since IPO (in EUR) Doblinger Beteiligung GmbH 30.00% Bauer family 36.02% 33.98% Free float ▪ Listed on Frankfurt stock exchange (Prime Standard), since July 4, 2006 ▪ Share capital: EUR 111,186,566.80 in EUR 2017 2018 2019 2020 2021
Slide 44: BAUER share Dividend policy
BAUER share Dividend policy Dividend policy Dividend payment ▪ The dividend policy founded on a reasonable balance between in EUR shareholders and company 1.20 ▪ fair participation of shareholders 1.00 1.00 ▪ maintaining continuity 0.90 ▪ safeguarding of the equity ratio 0.60 0.60 0.60 0.50 0.50 ▪ A
Slide 45: Financial calendar & contact
Investor Relations Financial calendar & contact Financial Calendar 2021 IR contact March 2, 2021 Preliminary figures for 2020 Christopher Wolf March 31, 2021 Extraordinary General Meeting Head of Investor Relations April 13, 2021 Annual Report 2020, Analyst/Press Conference May 12, 2021 Quarterly St
Slide 46: 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 47: © 2021 BAUER AG. All rights reserved.
© 2021 BAUER AG. All rights reserved.
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