Rosenbauer International Ag · VIE:ROS
Rosenbauer International — Q3 2023 Earnings Presentation
32 slides from Rosenbauer International's earnings presentation, Nov 14, 2023
Slide 1: Investor & Analyst Presentation
Investor & Analyst Presentation November 14, 2023 Sebastian Wolf | CEO
Slide 2: Disclaimer
DISCLAIMER IMPORTANT: Please read the following before continuing. The following applies to this document, which has been prepared by Rosenbauer International AG (the “Company”, together with its consolidated subsidiaries, the “Group”) solely for discussion purposes in relation to the Company, to th
Slide 3: Agenda
AGENDA 01 Rosenbauer Group at a glance 02 Q3 2023 Financial figures 03 Outlook 04 Q&A
Slide 4: Rosenbauer Group at a glance
Rosenbauer Group at a glance
Slide 5: Equity story
ROSENBAUER GROUP AT A GLANCE Equity story Global market leader • System provider of fire-fighting equipment and preventive fire protection • Globally leading producer of fire-fighting vehicles • 11.6% RB market share (global market volume 2021: ~ 21,000 pcs)* Unrivalled worldwide network • Present i
Slide 6: ESG profile
ROSENBAUER GROUP AT A GLANCE ESG profile Responsibility Development Impact Performance Our customers, fire A comprehensive Assembler with a CDP rating B- brigades around the sustainability strategy conscious consumption VÖNIX rating B globe, are the first line in fostering the UN of natural resource
Slide 7: Great market response to the RT/RTX
ROSENBAUER GROUP AT A GLANCE Great market response to the RT/RTX Deliveries worldwide Sep 30, 2022 Sep 30, 2023 Oslo Vancouver Berlin Victoria Royal Dutch Air Force Deliveries 11 26 Brampton Ennepetal, Nörvenich Vienna Paris-Orly TU München Tesla GER, Porsche Zuff Basel Orders 49 67 Los Angeles Nava
Slide 8: Refocus, Restart – Progress of program
ROSENBAUER GROUP AT A GLANCE Refocus, Restart – Progress of program Refocus – Restart (started in 2022) Reduction of production costs by value analysis of our products Reductions of production hours > efficiency Price negotiations with our suppliers Price negotiations with our customers on existing
Slide 9: Chassis lead times at OEMs have been improving
ROSENBAUER GROUP AT A GLANCE Chassis lead times at OEMs have been improving • Chassis lead times and the reliability of delivery times at OEMs Chassis lead times (months) and customizing partners have been improving. Production planning is becoming more reliable again. up to 18 MAN 10-12 • Around 60
Slide 10: Q3 2023 Financial figures
Q3 2023 Financial figures
Slide 11: Highlights 1-9/2023
Q3 2023 FINANCIAL FIGURES Highlights 1-9/2023 • The Rosenbauer Group increases its revenues to € 699.1 million in the first three quarters of 2023, which is 9.8% above the comparable period of the previous year. • The main reasons for this are the “Refocus, Restart” efficiency program and better sal
Slide 12: Key financial figures
Q3 2023 FINANCIAL FIGURES Key financial figures in € million 1-9/2021 1-9/2022 1-9/2023 Change Revenues 649.5 636.7 699.1 9.8% EBITDA 34.9 -10.3 33.7 - EBIT 14,0 -31.8 11.2 - EBIT margin 2.2% -5.0% 1.6% - EBT 9.5 -39.0 -9.4 - Net profit for the period 7.6 -26.6 -11.9 - Cash flow from operating activ
Slide 13: Revenues and EBIT quarterly
Q3 2023 FINANCIAL FIGURES Revenues and EBIT quarterly 800 90.0 in € million 80.0 700 70.0 60.0 50.0 600 32.5 40.0 20.0 22.1 19.9 30.0 500 8.9 10.4 20.0 3.6 5.6 0.4 10.0 -4.6 -7.3 -4.9 400 0.0 330.3 325.6 -18.6 321.0 -10.0 300 268.8 -20.0 255.9 241.9 253.0 238.6 221.5 -30.0 206.2 201.4 191.7 -40.0 20
Slide 14: EBIT variance yoy 2022 vs. 21 and 2023 vs. 22
Q3 2023 FINANCIAL FIGURES EBIT variance yoy 2022 vs. 21 and 2023 vs. 22 Revenues and EBIT 2022 and 2023 EBIT variance yoy in € million in € million 1200 50 17.7 19.9 13.7 1000 11.6 10.4 0 5.6 -4.6 -8.7 -4.9 800 -18.6 321 -50 600 239 222 -2.2 -100 400 269 253 -10.9 -150 200 -13.5 177 192 -19.0 0 -200
Slide 15: Development of revenues
Q3 2023 FINANCIAL FIGURES Development of revenues in € million +9,8% +4,3 699,1 +25,2 +13,3 • Rosenbauer Group with +23,6 € 699.1 million in 636,7 -4,0 revenues after the first nine months 2023. • Four out of five segments manage to increase their revenues. 1-9/2022 Europe Middle East Asia- Americas
Slide 16: Development of average price of vehicles delivered
Q3 2023 FINANCIAL FIGURES Development of average price of vehicles delivered Average price per fire truck / vehicle body (1-9/2022 vs. 1-9/2023) in € t 405.1 369.0 299.2 243.9 Average price per fire truck Average price per vehicle body *) 1,283 fire trucks **) 1,203 fire trucks + 9.8% + 22.7% 1-9/20
Slide 17: Development of EBIT
Q3 2023 FINANCIAL FIGURES Development of EBIT in € million +13.4 +0.8 11.2 • The higher gross profit +5.4 combined with a +4.7 +18.7 consistent reduction in structural costs results in an EBITDA of € 33.7 million and an EBIT of € -31.8 11.2 million in the first 1-9/2022 Europe Middle East Asia- Amer
Slide 18: Investments, depreciation
Q3 2023 FINANCIAL FIGURES Investments, depreciation Investments, depreciation in € million 15.7 • Purchase of the formerly 14.7 14.9 15.1 rented real estate at 12.6 13.0 11.7 Gladbeck 11.0 9.9 10.4 • Demonstration vehicles for Rosenbauer Deutschland • Further roll-out of SAP S4/Hana 1-9/2019 1-9/202
Slide 19: Statement of financial position – key figures
Q3 2023 FINANCIAL FIGURES Statement of financial position – key figures Change in € million 09/30/2022 12/31/2022 09/30/2023 Q3/2022 vs.Q3/2023 Total assets 1,083.9 973.6 1,198.6 10.6% Equity ratio 15.8% 19.1% 14.3% - Capital employed (ø) 655.4 590.4 660.9 0.8% ROCE -4.9% -1.8% 1.7% - ROE -20.5% -15
Slide 20: Cash Conversion Cycle – current status
Q3 2023 FINANCIAL FIGURES Cash Conversion Cycle – current status Cash Conversion Cycle (days) and Trade Working Capital (€ million) Work in Progress Organi- Standardi- 211 213 516.0 zation zation 1-9/2022 466.5 1-9/2023 Payment Finished Terms Goods Client 74 175 171 68 68 58 Procure- 36 ment 25 -2%
Slide 21: Trade Working Capital and Financing
Q3 2023 FINANCIAL FIGURES Trade Working Capital and Financing Trade Working Capital Financing in € million in € million 282.1% • Change of the Trade 1,100.0* 259.8% Working Capital to 975.1 972.2 € 516.0 million 197.1% • Ratio of advanced payments 20.3% 509.7 466.5 516.0 444.7* 484.2 • Payment on av
Slide 22: Order intake / backlog
Q3 2023 FINANCIAL FIGURES Order intake / backlog Order intake / order backlog Order intake 1-9/2023 by area in € million 1,757.9 PFP 3% (4%) 1,360.5 Asia-Pacific 1,223.8 13% (9%) 1,164.8 1,074.4 1,026.5 825.4 € 1,026.5 Europe 784.1 781.1 660.0 Americas million 47% (48%*) 28% (29%*) Middle East & Afr
Slide 23: Outlook
Outlook
Slide 24: Outlook 2023
OUTLOOK Outlook 2023 • According to the latest outlook by the International Monetary Fund (IMF), global growth is expected to slow from 3.5% to 3.0% in the current year and then dip again slightly to 2.9% in 2024. The projections remain well below the historical average of 3.8% for the years 2000 th
Slide 25: Thank you for your attention! Q&A
Thank you for your attention! Q&A
Slide 26: Appendix
Appendix
Slide 27: Executive Board and employee figures
APPENDIX Executive Board and employee figures Andreas Zeller CSO Area Europe I Area Middle East & Africa I Area Asia-Pacific I Area Americas I Customer Service & Digital Solutions I Sales Administration Sebastian Wolf Number of employees (as of reporting date) CEO Global Marketing I Global Product M
Slide 28: RT anticipates the mega trends of the firefighting industry
APPENDIX RT anticipates the mega trends of the firefighting industry CLIMATE CHANGE DIGITALIZATION SOCIAL CHANGE • Global warming • USD 1.8 trillion were invested in digitalization • 80 years is currently the average life • 820 natural disasters worldwide worldwide in 2022 expectancy in countries wi
Slide 29: Worldwide network of production, service and sales locations
APPENDIX Worldwide network of production, service and sales locations EUROPE AUSTRIA Leonding Neidling Asten Graz ASIA-PACIFIC Telfs FRANCE CHINA Chambéry Kunming AMERICAS SINGAPORE Meyzieu GERMANY Lyons, South Dakota Singapore Karlsruhe Fremont, Nebraska PHILIPPINES Luckenwalde Wyoming, Minnesota M
Slide 30: Leading system provider for fire protection
APPENDIX Leading system provider for fire protection (Product segments and % of group revenues; as of Dec. 31, 2022) Municipal Fire & Safety Equipment 39% ARFF Customer Service 11% Vehicles 74% 17% Aerials Preventive Fire Protection 7% 10% 10% Industrial 3% 3% other revenues 30 | Investor & Analyst
Slide 31: Rosenbauer share
APPENDIX Rosenbauer share Investor FR 6% 1-9/2022 1-9/2023 Highest price in € 48.6 35.1 Free float* BVG** 43% 51% Lowest price in € 28.9 29.0 Closing share price in € 29.7 30.4 40 Market capitalization in € million 202.0 206.7 Dividend in € 0.90 0.0 30 Dividend yield in % 3.0% 0.0% 20 Earnings per s
Slide 32: Financial calendar
APPENDIX Financial calendar Tiemon Kiesenhofer February 16, 2024 Publication of the preliminary results 2023 Head of Investor Relations +43 (0)732 6794-568 April 5, 2024 Publication of the results 2023 Ulrike Kogler May 14, 2024 32nd Annual General Meeting Investor Relations Manager May 17, 2024 Pub
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