BAUER Aktiengesellschaft · HAM:B5A0
BAUER Aktiengesellschaft — Q1 2010 Earnings Presentation
40 slides from BAUER Aktiengesellschaft's earnings presentation, May 12, 2010
Slide 1: BAUER Aktiengesellschaft Company Presentation First Quarter 2010
BAUER Aktiengesellschaft Company Presentation Fi t Quarter First Q t 2010 Doha, Qatar – „Heart of Doha“ 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen
Slide 2: Key Figures 2009
Key Figures 2009 2008 2009 Change in EUR million in EUR million in % T t l Group Total G revenues, off which hi h 1,527.2 1 527 2 1,278.3 1 278 3 -16.3 16 3 % - Germany 379.5 364.0 - 4.1 % - International 1,147.7 914.3 - 20.3 % - Construction 700 9 700.9 587 1 587.1 - 16.2 16 2 % - Equipment 780.1 6
Slide 3: Contents
Contents 1 BAUER Group 2 BAUER Construction / Equipment / Resources 3 German Construction Market 4 Fi Financials i l first fi t quarter t 2010 5 Outlook 6 BAUER share 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 3
Slide 4: BAUER Group
1 BAUER Group Services,, equipment q p & products p dealing g with ground g and groundwater g Construction Equipment Target ~ 42 % of Target ~ 42 % of total Group revenues total Group revenues Global provider for Market leader in specialist i li t foundation f d ti specialist i li t foundati
Slide 5: History of Bauer
1 History of Bauer Two centuries of experience 1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2009 1790 1900-1970 1980-1990 2000-2009 End of 1970’s: Earlyy 1980’s: 4 Jul 2006: 4. FY 2009: Start of Selling of equipment to
Slide 6: Longstanding healthy business development
1 Longstanding healthy business development Total Group Revenues 1980 - 2009 in EUR million (segment after deducting Other/Eliminations/Consolidations) 1,600 Total 1,278 1,400 43% 2007: 1,208 1,200 Resources R 166 1,000 Equipment 800 531 600 400 Construction 200 581 0 1980 1985 1990 1995 2000 2005 2
Slide 7: Leading position in highly specialised markets
1 Leading position in highly specialised markets Worldwide network in main business segments Permanent Offices: BAUER Maschinen KSM, Construction Kurgan Russia Kurgan, Equipment Resources BAUER Tianjin Technologies, Technologies Tianjin, China BAUER Manufacturing Inc. BAUER Group, new plant Aresing
Slide 8: Leading position in highly specialised markets
1 Leading position in highly specialised markets Plant Edelshausen near Schrobenhausen, Germany 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 8
Slide 9: What is specialist foundation?
2 What is specialist foundation? Building an excavation pit Supporting Wall Ground Water Underpinning Injection Injection Anchor Pile Foundation Sealing Slab 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 9
Slide 10: What is specialist foundation used for?
2 What is specialist foundation used for? Applications for infrastructure projects Project portfolio: ~ 50 / 50 infrastructure (Government) / large industrial buildings very little littl exposure to t residential id ti l construction t ti 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrob
Slide 11: Construction
2 Construction Abu Dhabi, UAE – Foundation for Louvre museum 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 11
Slide 12: Construction
2 Construction Luanda, Angola – Foundation works for Teatro Avenida 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 12
Slide 13: Construction
2 Construction Florida/Okeechobee, USA – Remediation of Herbert Hoover Dike 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 13
Slide 14: Construction Methods – Cutter-Soil-Mixing (CSM)
2 Construction Construction Methods – Cutter Cutter-Soil-Mixing Soil Mixing (CSM) USA, Okeechobee, Italy, Bologna, RTG RG 25 S BG 28 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 14
Slide 15: Construction
2 Construction Wusterwitz, Germany – Excavation pit for Wusterwitz lock 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 15
Slide 16: Construction
2 Construction Schwäbisch Hall, Germany – Excavation pit for Kocherquartier 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 16
Slide 17: Construction
2 Construction Munich, Germany – Tunnel for Mittlerer Ring 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 17
Slide 18: Equipment
2 Equipment BAUER Maschinen Group at Bauma 2010 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 18
Slide 19: Equipment: Product range BG-systems
2 Equipment Product range: BG-systems BG systems (BG 12 – BG 50) Small-sized (BG 12 – BG 18) Medium-sized (BG 20 – BG 28) Large-sized (BG 36 – BG 50) BG 12 BG 15 BG 18 BG 22 BG 24 BG 28 BG 36 BG 40 BG 50 125 kNm* 151 kNm* 177 kNm* 222 kNm* 222 kNm* 269 kNm* 367 kNm* 390 kNm* 468 kNm* * Torque 10-05-
Slide 20: Equipment: Product range Foundation Cranes
2 Equipment Product range: Foundation Cranes MC 32 MC 64 MC 128 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 20
Slide 21: Equipment: Product range Deep Drilling
2 Equipment Product range: Deep Drilling RB 50 TBA 200 TBA 300 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 21
Slide 22: Equipment: Product range Other equipment
2 Equipment Product range: Other equipment KR 707 RG 21 T CBC 32 MC 64 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 22
Slide 23: Resources: Overview of the three divisions
2 Resources Overview: The three divisions of Resources segment Materials Exploration & Mining Environment about 35 % of revenues S Services i about 40 % of revenues about 25 % of revenues Full-line p provider for Production drilling g Disposal p of p polluted areas materials in the field of Ex
Slide 24: Resources: Materials
2 Resources Materials Lesotho, South Africa – LDD Drilling with RB 40 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 24
Slide 25: Resources: Exploration and Mining Services
2 Resources Exploration and Mining Services Jordan – Oil drilling rig Alaska, USA – RED DOG Mine 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 25
Slide 26: Resources: Environment
2 Resources Environment Qatar – wetland for wastewater treatment 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobenhausen 26
Slide 27: Market environment - Germany
3 Market environment - Germany German construction market Absolute Figures Change in % 2009 West Germany East Germany D December b 2009 West- W t E t East- 2008/ 2008/ 2009/ 2008/ 2008/ 2009/ Germany Germany 1994 2007 2008 1994 2007 2008 Employees in 1000 525,8 178,9 -46,7 -0,6 -0,1 -60,0 -2,9 0,0 R
Slide 28: Market environment - Trends
3 Market environment - Trends Orders & US-Dollar US Dollar exposure Order backlog (Orders in hand) US$ Exposure / Currency Risks Jan – Mar 2010 Reach in months Decentralized sales network operating out in relation to total of Europe, Middle East, Far East, America with Group revenues > 100 subsidi
Slide 29: Financial results: Revenues Jan–Mar 2010
4 Financial results Revenues Jan – Mar 2010 in EUR '000 March 31, 2009 March 31, 2010 change in % FY 2009 Total Group revenues 375 349 375,349 261 007 261,007 -30.5% 30 5% 1 278 330 1,278,330 Sales revenues, Construction 118,289 114,002 -3.6% 487,894 Sales revenues, Equipment 126,055 69,855 -44.6% 4
Slide 30: Decline of revenues in Equipment segment
4 Financial results Decline of revenues in Equipment segment Revenues decline in the Equipment segment resulted from the following factors: 1) The underlying base effect: We had an extraordinarily good Q1 2009 with very healthy levels of existing orders in hand. We further increased revenues at that
Slide 31: Financial results: Earnings Jan–Mar 2010
4 Financial results Earnings Jan – Mar 2010 in EUR '000 March 31, 2009 March 31, 2010 change in % FY 2009 EBITDA 38,314 , 23,439 , -38.8% 159,922 , Margin (a) 14.2% 10.9% n/a 14.6% EBIT 23,283 5,641 -75.8% 84,363 EBIT margin (a) 8.6% 2.6% n/a 7.7% EBIT Construction segment 5,235 2,910 -44.4% 25,746
Slide 32: Income statement Jan–Mar 2010
4 Financial results Income statement Jan – Mar 2010 in EUR '000 March 31, 2009 March 31, 2010 change in % FY 2009 Consolidated revenues (P&L) 362,484 252,134 -30.4% 1,228,595 Sales revenues (P&L) 270,558 215,968 -20.2% 1,096,543 Material costs 203,517 123,882 -39.1% 642,008 Personnel costs 63 693 63
Slide 33: Balance sheet Jan–Mar 2010
4 Financial results Balance sheet Jan – Mar 2010 in EUR '000 March 31, 2009 March 31, 2010 change in % Dec 31, 2009 Assets 1,191,927 1,288,254 8.1% 1,185,161 Intangible assets 18,508 22,058 19.2% 21,839 Property, plant and equipment 348,244 426,711 22.5% 419,877 g term financial assets Long 12,709 1
Slide 34: Cash flow statement Jan–Mar 2010
4 Financial results Cash flow statement Jan – Mar 2010 in EUR '000 March 31, 2009 March 31, 2010 change in % FY 2009 Operating p g cash flow -71,543 , -34,791 , n/a 50,288 , Investing cash flow -23,584 -10,595 n/a -126,331 Financing cash flow 98,782 53,075 -46.3% 76,228 Free Cash Flow -95,127 -45,38
Slide 35: Regional breakdown
4 Regional breakdown Total Group revenues Jan – Mar 2010 in EUR million Germany 66 (25 %) Total 261 Other 29 (11%) America 26 ((10 %)) Far East 46 (18 %) Europe (other) 23 (9 %) EU excl. l G Germany Middl E Middle Eastt 44 (17 %) 27 (10 %) 10-05-12 IR-Presentation_Q1_2010 © BAUER AG, D-86529 Schrobe
Slide 36: Regional breakdown by segment
4 Regional breakdown Construction, Equipment, Resources Jan – Mar 2010 Construction segment Equipment segment Resources segment in EUR million Total 127 Total 102 Total 32 Germany 39 (31 %) Germany 12 (12 %) Germany 15 (47 %) Other 16 (13 %) Other 9 (9 %) Other 4 (13 %) America 10 (10 %) America 1 (
Slide 37: Outlook 2010
5 Outlook 2010 Strengths & Chances Strategic focus on business model with three forward-looking business segments and global presence with ith flflexible, ibl d decentralized t li d managementt organisation i ti proves tto b be advantageous. d t Construction segment is stabilizing segment with c
Slide 38: BAUER share
6 BAUER share Listed on Frankfurt stock exchange, Share performance (since 1st of January) Prime Standard since July 4, 2006 BAUER AG Listed in MDAX since September 22, 2008 Shares issued 17,131,000 MDAX Issue price EUR 16.75 DAX Trading volume Earnings per share 2009 EUR 2.28 2 28 (2008 E
Slide 39: BAUER Aktiengesellschaft
BAUER Aktiengesellschaft ISIN DE0005168108 Reuters B5AG.DE Bloomberg B5A GR Listing Indices MDAX C-DAX GEX DAXplus Family Classic All Share Prime All Share Investor Relations BAUER Aktiengesellschaft BAUER Straße 1 BAUER-Straße D - 86529 Schrobenhausen Tel.: +49 8252 97-1918 Fax: +49 8252 97-2900 es
Slide 40: Disclaimer
Disclaimer This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts facts, including statements about our beliefs beliefs, intentions, expectations, predictions and the assumptions underlying them. These statements are based on fa
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