Slide 1: STRABAG SE January–June 2014 Results
STRABAG SE JANUARY–JUNE 2014 RESULTS 29 AUGUST 2014
Slide 2: Disclaimer
DISCLAIMER This presentation is made by STRABAG SE (the "Company") solely for This presentation contains forward-looking statements relating to the use at investor meetings and is furnished to you solely for your business, financial performance and results of the Company and/or the information. indu
Slide 3: Output volume up slightly, order backlog boosted by 10%
OUTPUT VOLUME UP SLIGHTLY, ORDER BACKLOG BOOSTED BY 10% OUTPUT VOLUME (€M) 20000 ● Home market Germany still registered a plus of 10% – thanks to friendly weather 13,573 2% ● Output volume down in several other markets 5,780 5,643 0 6M/14 6M/13 2013 ORDER BACKLOG (€M) 10% 20000 ● Several large order
Slide 4: EBITDA and EBIT with double-digit improvement – EBIT still negative, as usual
EBITDA AND EBIT WITH DOUBLE-DIGIT IMPROVEMENT – EBIT STILL NEGATIVE, AS USUAL EBITDA (€M) 750 695 ● EBITDA improved by 17 % 17% 80 68 6M/14 6M/13 2013 -150 EBIT (€M) 450 ● Depreciation and amortisation at about last year’s 12% 262 level -108 -123 ● EBIT 12 % less deeply in negative territory 0 6M/14
Slide 5: EBIT more negative in North + West, significantly improved in South + East
EBIT MORE NEGATIVE IN NORTH + WEST, SIGNIFICANTLY IMPROVED IN SOUTH + EAST NORTH + WEST (€M) SOUTH + EAST (€M) 300 300 72% -24% 138 73 -17 -62 -95 -76 6M/14 6M/13 2013 6M/14 6M/13 2013 -200 -200 INTERNATIONAL + SPECIAL DIVISIONS (€M) TOTAL GROUP (€M) 300 300 262 n.m. 12% 70 -108 -123 -1 2 6M/14 6M/1
Slide 6: Earnings per share improved by 8%
EARNINGS PER SHARE IMPROVED BY 8% NET INCOME AFTER MINORITIES (€M) EARNINGS PER SHARE (€) 200 2 114 1.11 9% 8% -93 -102 -0.91 -0.99 6M/14 6M/13 2013 6M/14 6M/13 2013 -200 -2 ● Interest income fell slightly ● Income tax again in positive territory ● Third-party shareholders helped bear a loss of € 5.
Slide 7: Equity ratio remains high at more than 30%
EQUITY RATIO REMAINS HIGH AT MORE THAN 30% ASSETS(1) LIABILITIES AND EQUITY(1) (€m) 6M/14 2013 (€m) 6M/14 2013 Intangible assets 499 502 Share capital 114 114 PP&E & investment property 2,126 2,183 Capital reserves 2,311 2,311 Associated companies 358 372 Retained earnings 380 492 Other financial as
Slide 8: CFO and CFI improved, while CFF was negative due to absence of bond emission
CFO AND CFI IMPROVED, WHILE CFF WAS NEGATIVE DUE TO ABSENCE OF BOND EMISSION (€m) 6M/14 ∆% 6M/13 Cash – beginning of period 1,685 25 1,351 Cash flow from earnings 47 132 20 ∆ Working Capital -228 5 -241 Cash flow from operating activities -181 18 -221 Cash flow from investing activities -137 11 -154
Slide 9: North + West: individual projects weigh on EBIT
NORTH + WEST: INDIVIDUAL PROJECTS WEIGH ON EBIT KEY INDICATORS COMMENTS (€m) 6M/14 ∆% 6M/13 ● Output volume increased, mainly due to BC & CE and mild winter in Germany Output volume 2,649 5 2,520 2,521 ● EBIT about a quarter more deeply into negative territory: Revenue 9 2,322 individual constructio
Slide 10: South + East: EBIT improved by 72%
SOUTH + EAST: EBIT IMPROVED BY 72% KEY INDICATORS COMMENTS (€m) 6M/14 ∆% 6M/13 ● Output volume more or less unchanged: Austria and Slovakia positive, but no equivalent yet for last year’s high Output volume 1,799 -1 1,826 output in Russia and Romania Revenue 1,694 0 1,689 ● EBIT: Seasonally negative
Slide 11: International + Special Divisions: business as usual
INTERNATIONAL + SPECIAL DIVISIONS: BUSINESS AS USUAL KEY INDICATORS COMMENTS (€m) 6M/14 ∆% 6M/13 ● Output volume +3%: growth in Germany, other markets balanced each other out Output volume 1,276 3 1,233 ● No significant changes in EBIT Revenue 1,128 4 1,085 4,427 ● Order backlog up by 18%, new order
Slide 12: Outlook 2014 reiterated
OUTLOOK 2014 REITERATED ● Output volume stable at € 13.6 bn expected ● EBIT forecast: ≥ € 260 m − 2013: € 262 m − Especially strong fourth quarter last year 6M 2014, August 2014 1 Page 12
Slide 13: Teams work. Q&A with Thomas Birtel, CEO
TEAMS WORK. Q&A WITH THOMAS BIRTEL, CEO STRABAG SE 29 AUGUST 2014