BAUER Aktiengesellschaft · HAM:B5A0
BAUER Aktiengesellschaft — Q1 2021 Earnings Presentation
47 slides from BAUER Aktiengesellschaft's earnings presentation, May 12, 2021
Slide 1: Group Presentation Q1 2021
Investor Relations Group Presentation Q1 2021 BAUER AG May 12, 2021
Slide 2: Overview
1 Overview ▪ BAUER Group ▪ Highlights Q1 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: Q1 2021 – Further increase of order backlog
Highlights Q1 2021 – Further increase of order backlog Total Group revenues EBIT* Earnings after tax Order intake Order backlog EUR 356.6 million EUR 1.8 million EUR -5.1 million EUR 516.1 million EUR 1,322 million (-8.6%) (EUR 8.5 million) (EUR -5.0 million) (+13.4%) (+21.0%) Significant financial
Slide 5: Financials Q1 2021
2 Financials Q1 2021 ▪ Overview: Market environment and course of business ▪ Working capital & Net debt ▪ Financial calendar & IR contact 5
Slide 6: Key figures Q1 2021
Financials Key figures Q1 2021 in EUR million Q1 2020* Q1 2021 ∆ Q1 in % Total Group revenues 390.2 356.6 -8.6% Construction 167.0 169.7 +1.6% Equipment 163.8 152.0 -7.2% Resources 80.7 63.2 -21.7% Other/Consolidation -21.3 -28.3 n/a Sales revenues 334.0 303.0 -9.3% Order intake 455.2 516.1 +13.4% O
Slide 7: Revenues & Earnings – Group
Financials Revenues & Earnings – Group Revenues Development Q1 2021 in EUR million Total Group revenues Sales revenues ▪ Decline in total Group revenues as Q1 2020 was not much ∆ Q1 2,000 -8.6% influenced by the COVID 19 pandemic 1,595 -9.3% 1,600 1,471 1,454 ▪ Correspondingly, sales revenues also b
Slide 8: Order situation – Group
Financials Order situation – Group Order intake Development Q1 2021 In EUR million ▪ Order intake increased again, mainly because of Construction, but 1,609 1,589 also because of Equipment Q4 321 318 ▪ Construction segment with new major orders in Europe, Jordan, Q3 297 450 India and Egypt Q2 518 +1
Slide 9: Construction segment Overview
Construction segment Overview Market environment Q1 2021 and course of business ▪ Typical and good start to the year ▪ Markets in Europe and the USA positive, good workload in the Middle East due to an order in Jordan. ▪ Still exit and travel restrictions in some countries in Far East, however the s
Slide 10: Equipment segment Overview
Equipment segment Overview Market environment Q1 2021 and course of business ▪ The first quarter of 2020 showed only minimal effects of the COVID-19 pandemic. ▪ The customers’ reluctance to invest, resulting from the uncertainty caused by the COVID-19 pandemic is still ongoing ▪ Order situation and
Slide 11: Resources segment Overview
Resources segment Overview Market environment Q1 2021 and course of business ▪ Resources segment still relatively unaffected by the pandemic ▪ Good start into 2021 with lower footprint after restructuring ▪ Revenue decrease compared to Q1 2020 is related to the major Kesslergrube project, which was
Slide 12: Working Capital, liabilities to banks & net debt – Group
Financials Working Capital, liabilities to banks & net debt – Group Working Capital Development Q1 2021 in EUR million ▪ Positive development ongoing in Q1 2021 800 726 700 ▪ Measures to optimize working capital take effect: inventories as well as receivables and other assets reduced 600 556 526 500
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 North America Germany o Market: Western European o Market: significantly affected o Market: still a good market, countries affected by by the coronavirus; demand for first signs of weakening; coronavirus; slow development infrastru
Slide 15: Total Group revenues FY 2020 – Group
Regional breakdown Total Group revenues FY 2020 – Group Total 1,454 in EUR million Germany 417 (28%) Africa 74 (5%) Americas 272 (19%) Full year 2019 Total 1,595 Africa 80 (5%) in EUR million Americas 192 Germany (12%) 519 (33%) Asia-Pacific, Far East & Australia 266 (17%) Middle East & Asia-Pacific
Slide 16: Total Group revenues FY 2020 – Segments
Regional breakdown Total Group revenues FY 2020 – Segments Construction segment Equipment segment Resources segment Total 643 Total 546 Total 265 in EUR million Germany 142 (22%) Germany 79 (14%) Germany 196 (74%) Africa 49 (8%) Africa 15 (3%) Africa 10 (4%) Americas 101 (16%) Americas 164 (30%) Ame
Slide 17: Outlook
4 Outlook ▪ Strategic measures ▪ Capital increase ▪ Forecast 2021 17
Slide 18: Forecast 2021 unchanged – Growth in all segments and the Group
BAUER Group Forecast 2021 unchanged – Growth in all segments and the Group Construction Equipment Resources ▪ Very high demand for infrastructure ▪ Investments expected to pick up from ▪ Measures 2020 are the basis for the characterizes construction activity mid-2021 onwards realignment ▪ Growth in
Slide 19: Capital increase 2021 for long-term stability
BAUER Group Capital increase 2021 for long-term stability Target ▪ Strengthen equity base and improve balance sheet ratios ▪ Make the Group even more resilient for the future ▪ Increase independence from financial partners Implementation of the capital increase ▪ Capital increase shall redeem up to
Slide 20: 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 21: Appendix
5 Appendix ▪ BAUER Group ▪ Management 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: Management Board
BAUER AG Management Board Michael Stomberg (CEO) Florian Bauer Hartmut Beutler (CFO) Peter Hingott ▪ Corporate Communications ▪ Digitalization ▪ Financing & Treasury ▪ Group Controlling & Accounting ▪ Process Management ▪ Development Coordination ▪ Facility Management ▪ Group Purchasing ▪ Quality Ma
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: 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: Brownfield remediation on industrial area, Spremberg, Germany
Resources segment Brownfield remediation on industrial area, Spremberg, 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 3M 2021
Financials Income statement 3M 2021 in EUR '000 3M 2020* 3M 2021 ∆ in % Sales revenues (P&L) 333,996 302,992 -9.3% Consolidated revenues (P&L) 376,208 340,676 -9.4% Cost of materials -184,186 -165,656 -10.1% Personel expenses -106,919 -104,881 -1.9% Other operation expenses -54,028 -47,080 -12.9% Sh
Slide 38: Balance sheet as of March 31, 2021
Financials Balance sheet as of March 31, 2021 in EUR '000 March 31, 2020* March 31, 2021 ∆ in % Assets 1,708,860 1,635,446 -4.3% Non-current assets 685,507 660,286 -3.7% Intangible assets 16,377 14,464 -11.7% Property, plant and equipment and investment property 454,029 470,330 3.6% Investments acco
Slide 39: Cash flow statement 3M 2021
Financials Cash flow statement 3M 2021 in EUR '000 3M 2020 3M 2021 ∆ in % Cash flow from operational activity -53,634 -48,045 -10.4% Cash flow from investment activity -17,295 -32,056 85.3% Cash flow from financing activity 85,958 71,490 -16.8% Free Cash Flow -70,929 -80,101 12.9% Changes in liquid
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 Q1 2021
Financials Time line – FY 2008 to Q1 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 BAUER Group 1,527.2 1,275.8 1,304.0 1,371.8 1,435.8 1,504.2 1,560.2 1,656.4 1,5
Slide 43: BAUER share Facts & Figures
BAUER share Facts & Figures Shareholder structure Share performance since IPO (in EUR) Free float 36.35% 43.81% Bauer family 19.84% Doblinger Beteiligung GmbH ▪ Listed on Frankfurt stock exchange (Prime Standard), since July 4, 2006 ▪ Share capital: EUR 80,301,417.61 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 Head of Investor Relations March 31, 2021 Extraordinary General Meeting BAUER Aktiengesellschaft April 13, 2021 Annual Report 2020 BAUER-Straße 1 86529 Schro
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: © 2020 BAUER AG. All rights reserved.
© 2020 BAUER AG. All rights reserved.
BAUER Aktiengesellschaft — Q1 2021 Earnings Presentation on 6ix