BAUER Aktiengesellschaft · HAM:B5A0

BAUER Aktiengesellschaft — H1 2006 Earnings Presentation

25 slides from BAUER Aktiengesellschaft's earnings presentation, October 2006

  1. Slide 1: BAUER Aktiengesellschaft Analyst Presentation

    BAUER Aktiengesellschaft Analyst Presentation Results as of 30 June 2006

  2. Slide 2: Agenda

    1 BAUER share 2 BAUER strategic highlights H1 2006 3 BAUER group of companies, business model, exemplary projects 4 Financial results 5 Outlook 06-10-IR-Presentation_as of 30 June 2006 2

  3. Slide 3: BAUER share

    1 BAUER share ƒ Listed on Frankfurt stock exchange, Prime Standard since 4 July 2006 ƒ 17,131,000 shares issued ƒ Issue price EUR 16.75 ƒ Share performance +40 % since IPO (a) ƒ Listed in SDAX since 18 September 2006 ƒ Bauer family biggest shareholder with 48.17 % of shares ƒ Free float 51.83 % BAUE

  4. Slide 4: BAUER strategic highlights H1 2006

    2 BAUER strategic highlights H1 2006 ƒ Continued successful trend of fiscal year 2005 in both business segments construction and equipment ƒ Strong increase in profitability ƒ EBITDA up 34 % to EUR 42.2million (H1 2005 EUR 31.6million) ƒ EBIT up 89 % to EUR 18.5million (H1 2005 EUR 9.8million) ƒ Net

  5. Slide 5: BAUER group of companies

    3 BAUER group of companies Construction Equipment ƒ ~ 60 % of revenues (a) ƒ ~ 40 % of revenues (a) ƒ Specialist for foundation engineering and ƒ Premium player for specialist foundation construction equipment ƒ Focus on complex projects ƒ Focus on technologically advanced and complex ƒ Related cons

  6. Slide 6: History of Bauer

    3 History of Bauer Two centuries of experience After WW II: Early 1990’s: End of 1970’s: Public Start of Build up of specialist listed Start of inter- company construction construction/ nationalisation SDAX business environmental business 1790 1950's 1960's 1970's 1980's 1990's 2000+ 2006 Early 1970

  7. Slide 7: Leading position in highly specialised markets

    3 Leading position in highly specialised markets Worldwide network in both main business segments Equipment Construction Successful completion of globalisation Comprehensive international network Leading market positions Significant cost degression 06-10-IR-Presentation_as of 30 June 2006 7

  8. Slide 8: What is specialist foundation?

    3 What is specialist foundation? Bauer in action Supporting wall Ground water Injection anchor Underpinning injection Sealing slab Pile foundation 06-10-IR-Presentation_as of 30 June 2006 8

  9. Slide 9: Exemplary projects

    3 Exemplary projects Angerhof, Munich & Péribonka, Canada Excavation pit for innercity office building Trench Cutter excavating sealing wall 06-10-IR-Presentation_as of 30 June 2006 9

  10. Slide 10: Exemplary projects

    3 Exemplary projects Dubai palm islands 06-10-IR-Presentation_as of 30 June 2006 10

  11. Slide 11: Exemplary projects

    3 Exemplary projects Merow dam, Sudan 06-10-IR-Presentation_as of 30 June 2006 11

  12. Slide 12: Bauer Annual Exhibition

    3 Bauer Annual Exhibition 06-10-IR-Presentation_as of 30 June 2006 12

  13. Slide 13: Longstanding healthy business development

    4 Longstanding healthy business development Steady growth and successful product diversification CAGR(b) Specialist Total Group revenues 2005(a) 1990 – 2005 900 construction 800 Foundation 14% Equipment Total Group revenues (EUR million) Construction 700 (Germany) 13% 38% ~12% 600 35% 500 Foundation

  14. Slide 14: Financial results - overview

    4 Financial results - overview in TEUR FY 2005 H1 2005 H1 2006 change in % Total group revenues 824,330 363,507 453,867 24.9% business segment construction 521,250 227,712 256,362 12.6% business segment equipment 335,680 146,068 212,087 45.2% Consolidated revenues (P&L) 773,504 351,994 430,221 22.2%

  15. Slide 15: Financial results - regional development

    4 Financial results - regional development in TEUR FY 2005 in % H1 2005 H1 2006 Germany 270,350 33% 124,230 121,580 Rest of Europe 218,150 26% 90,402 119,370 Middle East 109,820 13% 63,829 79,574 Far East 85,580 10% 33,749 44,072 Americas 105,170 13% 34,922 73,219 Others 35,260 4% 16,375 16,052 Tota

  16. Slide 16: Financial results - by business segment

    4 Financial results - by business segment in TEUR H1 2005 H1 2006 change in % Construction revenues 227,712 256,362 12.6% in % of Total group revenues (a) 59.6% 53.8% n/a (b) EBIT margin 0.24% -0.37% n/a Equipment revenues 146,068 212,087 45.2% in % of Total group revenues (a) 38.2% 44.5% n/a EBIT m

  17. Slide 17: Financial results - P&L positions

    4 Financial results - P&L positions in TEUR H1 2005 H1 2006 change in % EBIT 9,769 18,457 88.9% Financial result -10,248 -8,548 -16.6% % of Consolidated revenues (P&L) -2.9% -2.0% n/a Result from associated entities 638 638 0.0% Profit before tax 159 10,547 n/a % of Consolidated revenues (P&L) 0.0%

  18. Slide 18: Financial results - P&L cost items

    4 Financial results - P&L cost items in TEUR H1 2005 H1 2006 change in % Consolidated revenues (P&L) 351,994 430,221 22.2% Material costs 205,883 243,491 18.3% % of Consolidated revenues (P&L) 58.5% 56.6% n/a Personnel costs 80,094 84,982 6.1% % of Consolidated revenues (P&L) 22.8% 19.8% n/a Depreci

  19. Slide 19: Financial results - Balance sheet positions

    4 Financial results - Balance sheet positions in TEUR FY 2005 in % H1 2006 in % Assets 568,810 100.0% 679,456 100.0% Intangible assets 10,526 1.9% 10,716 1.6% Property, plant and equipment 169,336 29.8% 169,853 25.0% Long term financial assets 4,471 0.8% 6,436 0.9% Other long term assets 25,212 4.4%

  20. Slide 20: Financial results - Cash flow positions

    4 Financial results - Cash flow positions in TEUR H1 2005 H1 2006 Operating cash flow -36,181 -55,833 Investing cash flow -13,453 -17,946 Financing cash flow 52,403 76,731 Net cash increase 2,769 2,952 Cash at start of reporting period 10,614 14,521 Cash at end of reporting period 13,383 17,473 06-1

  21. Slide 21: Outlook

    5 Outlook ƒ Signs of recovery in German construction market continue to strengthen ƒ Order book increase sustainable ƒ Most of pre-financing requirements will net out towards year end ƒ Demand for BAUER equipment very strong - challenge to serve all potential customers in time ƒ Innovations (eg. Qua

  22. Slide 22: Outlook - Areas of strategic development

    5 Outlook Areas of strategic development Optimisation of Fast pace of innovation M&A in related areas operations New QuattroCutter International production and global sourcing Transferring core competencies to new markets Offshore wind parks, services for Mining Geothermal applications oil/gas drill

  23. Slide 23: Attractive growth of worldwide construction market

    5 Outlook Attractive growth of worldwide construction market Global GDP outlook Construction industry Specialist foundation Construction ƒ Higher density in ƒ High infrastructure metropolitan areas ƒ Sound economic environment investments ƒ Increased complexity of projects ƒ Key industry to growth i

  24. Slide 24: Concentration of metropolitan areas

    5 Outlook Concentration of metropolitan areas United Arab Emirates (1967) United Arab Emirates (today) 06-10-IR-Presentation_as of 30 June 2006 25

  25. Slide 25: BAUER Aktiengesellschaft

    BAUER Aktiengesellschaft ƒISIN DE5168108 ƒReuters B5AG.DE ƒBloomberg B5A GR ƒListing ƒIndices C-DAX Classic All Share Prime All Share Investor Relations BAUER Aktiengesellschaft Wittelsbacherstraße 5 D - 86529 Schrobenhausen Tel.: +49 8252/ 97- 1918 Fax: +49 8252/ 97- 2900 Email: bettina.mestenhause

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