BAUER Aktiengesellschaft · HAM:B5A0
BAUER Aktiengesellschaft — Bauer — FY2013 Earnings Presentation
31 slides from BAUER Aktiengesellschaft's earnings presentation, Apr 11, 2014
Slide 1: BAUER AG Analyst conference fiscal year 2013
BAUER AG Analyst conference fiscal year 2013 Munich, April 11, 2014 Foundation of Lakhta Tower – St. Petersburg, Russia 14-04-11 IR-Presentation_Analyst_Conference_FY2013 © BAUER AG, D-86529 Schrobenhausen
Slide 2: Key Figures FY 2013
Key Figures FY 2013 Total Group revenues (in EUR million) Net profit (in EUR million) 1,304 1,372 1,436 1,506 39.8 34.1 25.8 -19.4 1,600 48 36 1,200 24 800 12 0 400 -12 0 -24 2010 2011 2012 2013 2010 2011 2012 2013 Orders in hand (in EUR million) Employees (in average) 614.9 750.0 785.0 765.2 9,094
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.
Slide 4: Key Figures FY 2013 Main topics
Key Figures FY 2013 Main topics Total Group revenues with EUR 1,506.2 million were 4.9 % above previous year (EUR 1,435.8 million). The net loss with EUR -19.4 million (previous year: profit of EUR 25.8 million) was in the range as guided in October 2013. The earnings were especially influenced
Slide 5: Key Figures FY 2013
Key Figures FY 2013 2012* 2013 ∆ FY Q4 2013 in EUR million in EUR million in % in EUR million Total Group revenues, of which 1,435.8 1,506.2 4.9 % 396.7 - Germany 378.6 412.1 8.8 % 72.1 - International 1,057.2 1,094.1 3.5 % 324.6 - Construction 655.2 742.7 13.4 % 212.9 - Equipment 589.1 628.6 6.7 %
Slide 6: Contents
Contents 1 Overview BAUER Group p. 7 2 BAUER market environment p. 13 3 Regional breakdown of Revenues p. 15 4 Financials 2013 p. 17 5 BAUER share p. 27 6 Guidance 2014 p. 29 14-04-11 IR-Presentation_Analyst_Conference_FY2013 © BAUER AG, D-86529 Schrobenhausen 6
Slide 7: 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
Slide 8: Resources Segment
1 Resources Segment The three competence areas Materials Exploration & Mining Environment Services Full-line provider for Production drilling Disposal of polluted areas materials in the field of (for example: water wells) Cleaning of process water well construction Exploration drilling and
Slide 9: Total Group Revenues
1 Total Group Revenues Longstanding healthy business development in EUR million (segment after decucting Other/Consolidation) Total 1,506 Financial crisis Resources 197 Equipment 591 Far East crisis German reunification Construction Overseas 532 Construction Domestic 186 Note: 2000 – 2002 based on H
Slide 10: 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 BAUER Tianjin Technologies, Tianjin, China BAUER Manufacturing Inc. BAUER Group, plant Aresing near GWE Gr
Slide 11: BAUER Group: Challenges of the world provide chances
1 BAUER Group Challenges of the world provide chances for the company Urbanization Infrastructure Water The megatrend urbanization leads to High demand for new infrastructure and The shortage of clean drinking water more complex inner-city solutions for restoration of existing structures is one of t
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
Slide 13: World construction markets
2 World construction markets Bauer market potential Western Europe: Eastern Europe: weak markets, slowly positive development, Germany is quite good especially Russia + + - + - USA / Canada: Far East: public demand, positive development power plants, dams, etc. + + in all areas, especially Hongkong,
Slide 14: Market environment: Orders & Currency risks
2 Market environment Orders & Currency risks Order backlog (Orders in hand) Currency Risks FY 2013 Reach in months Construction in relation to total Project size EUR 100,000 up to EUR 70 million Group revenues full year 2013 ~ 50 / 50 infrastructure / large industrial buildings ~ 600 projects
Slide 15: Regional breakdown
3 Regional breakdown Total Group revenues 2013 in EUR million Total 1,506 Germany 412 (27 %) Africa 58 (4 %) America 186 (12 %) Asia-Pacific, Full year 2012 (adjusted) Far East & Australia in EUR million Germany 379 (26 %) 364 (25 %) Total 1,436 Africa 60 (4 %) America 202 (14 %) Asia-Pacific, Far E
Slide 16: Regional breakdown by segment
3 Regional breakdown Construction, Equipment, Resources 2013 Construction segment Equipment segment Resources segment in EUR million Total 718 Total 591 Total 197 Germany 184 (26 %) Germany 105 (17 %) Germany 123 (62 %) Africa 7 (3 %) Africa 32 (4 %) Africa 19 (3 %) America 80 (11 %) America 96 (16
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 785.0 765.2 1,600 1,506 800 750.0 1,436 1,372 1,344 1,404 1,304 1,132 1,220 614.9 1,200 600 800 400 400 200 0 0 2010 2011 2012 2013 2010 2011 2012 2013 Earnings (in
Slide 18: Working capital needs & net debt
4 Financials Working capital needs & net debt Bauer’s business model with its three segments Net working capital (in EUR million) requires considerably more working capital than 800 other companies in construction markets. 600 Changes during the year: 400 - Levels of working capital in the balance
Slide 19: Working capital needs & cash flow
4 Financials Working capital needs & cash flow Building construction Equipment segment: EUR positive cash contribution - Due to very special parts being installed, parts need to be pre-ordered well in advance approx. 3 months pre-financing of equipment during production. Contract value Negative
Slide 20: Revenues Q4 / FY 2013
4 Financials Revenues Q4 / FY 2013 in EUR '000 Q4 2012* Q4 2013 ∆ Q4 in % FY 2012* FY 2013 ∆ FY in % Total Group revenues 372,600 396,706 6.5% 1,435,807 1,506,227 4.9% Sales revenues, Construction 147,551 184,151 24.8% 579,069 659,063 13.8% Sales revenues, Equipment 194,450 204,547 5.2% 520,576 561,
Slide 21: Segment reporting FY 2013
4 Financials Segment reporting FY 2013 14-04-11 IR-Presentation_Analyst_Conference_FY2013 © BAUER AG, D-86529 Schrobenhausen 21
Slide 22: Segment reporting FY 2013
4 Financials Segment reporting FY 2013 14-04-11 IR-Presentation_Analyst_Conference_FY2013 © BAUER AG, D-86529 Schrobenhausen 22
Slide 23: Earnings Q4 / FY 2013
4 Financials Earnings Q4 / FY 2013 in EUR '000 Q4 2012* Q4 2013 ∆ Q4 in % FY 2012* FY 2013 ∆ FY in % EBITDA 50,412 44,604 -11.5% 163,799 125,972 -23.1% Margin (a) 12.3% 10.3% n/a 12.2% 9.0% n/a EBIT 26,273 18,726 -28.7% 72,004 32,081 -55.4% EBIT margin (a) 6.4% 4.3% n/a 5.4% 2.3% n/a EBIT Constructi
Slide 24: Income statement FY 2013
4 Financials Income statement FY 2013 in EUR '000 FY 2012* FY 2013 ∆ FY in % Consolidated revenues (P&L) 1,376,078 1,449,521 5.3% Sales revenues (P&L) 1,344,421 1,404,169 4.4% Material costs -686,834 -755,906 10.1% Personnel costs -324,989 -342,815 5.5% Depreciation and amortization of fixed assets
Slide 25: Balance sheet December 31, 2013
4 Financials Balance sheet December 31, 2013 in EUR '000 Dec 31, 2012* Dec 31, 2013 ∆ in % Assets 1,529,415 1,585,218 3.6% Intangible assets 34,567 35,388 2.4% Property, plant and equipment 465,316 459,537 -1.2% Long term financial assets 23,617 19,005 -19.5% Other long term assets & deferred taxes
Slide 26: Cash flow statement FY 2013
4 Financials Cash flow statement FY 2013 in EUR '000 FY 2012* FY 2013 ∆ FY in % Cash flow from operating activities 165,713 38,416 -76.8% Cash flow from investing activities -76,187 -67,153 -11.9% Cash flow from financing activities -68,008 43,576 n/a Free Cash Flow 89,526 -28,737 n/a Changes in liq
Slide 27: BAUER share: Facts & Figures
5 BAUER share Facts & Figures Share performance 2013 Listed on Frankfurt stock exchange, SDAX Prime Standard, since July 4, 2006 DAX Share capital EUR 73,001,420.45 BAUER AG Shares issued 17,131,000 Issue price EUR 16.75 Trading volume Listed in SDAX (MDAX from 22.09.2008 to 19.09.2010) Sh
Slide 28: 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
Slide 29: Guidance 2014
5 Guidance 2014 Top-line growth with an increase in profitability 2013e* 2013 final 2014e Total Group Revenues ~ 1,500 EUR million 1,506 EUR million ~ 1,550 EUR million EBIT ~ 25 EUR million 32.1 EUR million ~ 75 EUR million Net profit ~ -20 EUR million -19.4 EUR million ~ 20-25 EUR million * Guidan
Slide 30: BAUER Aktiengesellschaft Financial calendar 2014
BAUER Aktiengesellschaft Financial calendar 2014 Publication Annual Report 2013 April 11, 2014 Annual Press Conference April 11, 2014 Analyst Conference April 11, 2014 Annual General Meeting June 26, 2014 Interim Report to March 31, 2014 May 14, 2014 Half-Year Interim Report to June 30, 2014 August
Slide 31: 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