BAUER Aktiengesellschaft · HAM:B5A0

BAUER Aktiengesellschaft — Bauer — 9M 2015 Earnings Presentation

50 slides from BAUER Aktiengesellschaft's earnings presentation, Nov 13, 2015

  1. Slide 1: BAUER AG Group Presentation First nine months 2015

    BAUER AG Group Presentation First nine months 2015 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen

  2. Slide 2: Key Figures 9M 2015

    Key Figures 9M 2015 9M 2014* 9M 2015 ∆ 9M in EUR million in EUR million in % Total Group revenues, of which 1,163.2 1,194.9 +2.7 % - Germany 348.7 356.5 +2.2 % - International 814.5 838.4 +2.9 % - Construction 542.6 564.4 +4.0 % - Equipment 498.1 496.6 -0.3 % - Resources 160.6 177.2 +10.4 % - Other/

  3. Slide 3: Key Figures 9M 2015 Main topics

    Key Figures 9M 2015 Main topics  Total Group revenues with EUR 1,194.9 million were 2.7 % above previous year (EUR 1,163.2 million). EBIT with EUR 36.4 million was 5.0 % lower than in the previous year (EUR 38.3 million). Net result for the period was EUR -2.7 million (previous year: EUR -5.0 milli

  4. Slide 4: Contents

    Contents 1 Overview BAUER Group p. 5 2 Challenges & Chances p. 9 3 Market environment p. 12 4 Financials p. 14 5 Guidance 2015 p. 23 6 Appendix p. 24 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 4

  5. Slide 5: BAUER Group Mission & Strategy

    1 BAUER Group Mission & Strategy Mission EUR 1.56 billion total Group revenues The BAUER Group is a leading provider of services, equipment & products dealing with ground and groundwater. EUR 76.4 million EBIT Strategy 5.6 %  The world is our market. EBIT margin 26.6 %  Global network organization

  6. Slide 6: The three segments

    1 BAUER Group The three segments Construction Equipment Resources  Global provider for specialist  Market leader in specialist  Products & services related to foundation engineering services foundation equipment water, environment and natural resources.  Focus on complex, international  New pro

  7. Slide 7: Total Group Revenues

    1 Total Group Revenues Longstanding healthy business development in EUR million (segment after deducting Other/Consolidation) Total 1,560 Financial crisis Resources 249 Equipment 612 Far East crisis German reunification Construction Overseas 510 Construction Domestic 189 Note: from 2003 based on IFR

  8. Slide 8: Worldwide network

    1 Worldwide network More than 110 subsidiaries in about 70 countries Permanent Offices: Construction Equipment sales BAUER Maschinen Kurgan, Resources Kurgan, Russia Equipment production locations BAUER Tianjin Technologies, Tianjin, China BAUER Manufacturing Inc. BAUER Maschinen Group, plant Aresin

  9. Slide 9: Challenges of the world provide chances for the company

    2 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

  10. Slide 10: Solutions for the biggest challenges and megatrends

    2 BAUER Group Solutions for the biggest challenges and megatrends Urbanization & Infrastructure Construction Equipment  Leading position in special  Market leader in specialist foundation engineering. foundation equipment.  Global activities with presence  Focus on specialized and in over 50 cou

  11. Slide 11: Chances

    2 BAUER Group Chances Construction Equipment Resources  Growing construction markets  Growth potential in new markets  Full-service provider for products worldwide. and with specialized machines. and solutions related to water.  Huge pent-up demand in  Manufacture of customized deep  Ground-br

  12. Slide 12: World construction markets

    3 World construction markets Bauer market potential + Russia: - Germany: quite good. Eastern Europe: slowly positive o Crisis regarding Ukraine; difficult to predict. USA / Canada: + development public demand, power plants, dams, etc. Western Europe: weak markets - Middle East: + Central Asia: good

  13. Slide 13: Global economic situation

    3 Global economic situation IMF projection of the real annual GDP growth in % -3.8 -0.6 1.5 1.6 -2.7 0.5 1.9 1.9 2015 2016 2015 2016 2.6 2.8 Russia Germany 2015 2016 2015 2016 CIS* 6.8 6.3 2015 2016 European Union United States 6.5 6.4 3.9 2.5 -3.0 -1.0 2015 2016 4.3 2015 2016 3.8 China 2015 2016 Mi

  14. Slide 14: Revenues, earnings & orders – Group

    4 Financials Revenues, earnings & orders – Group Revenues Order backlog in EUR million in EUR million Total Group revenues Sales revenues 1,600 1,560 1,200 1,436 1,504 1,344 1,402 1,376 1,018 1,200 1,163 1,195 900 1,014 1,019 785.0 765.2 762.7 780.8 800 600 400 300 0 0 2012 2013 2014 9M 2014 9M 2015

  15. Slide 15: Revenues, earnings & orders – Segments

    4 Financials Revenues, earnings & orders – Segments Total Group revenues Order intake in EUR million in EUR million Construction Equipment Resources Construction Equipment Resources 551 1,450 1,195 414 415 1,163 +26,0 % +10.4 % 298 161 177 n/a 175 1,179 +63.0 % 60 75 421 63 183 -9.8 % -0.3 % 498 181

  16. Slide 16: Regional breakdown – Total Group revenues

    4 Financials Regional breakdown – Total Group revenues 9M 2015 in EUR million Total 1,195 Germany 356 (30 %) Africa 74 (6 %) Americas 177 (15 %) Full year 2014 in EUR million Germany 440 (28 %) Total 1,560 Africa 62 (4 %) Americas 172 (11 %) Asia-Pacific, Far East & Australia Europe (other) 377 (24

  17. Slide 17: Regional breakdown – Segments 9M 2015

    4 Financials Regional breakdown – Segments 9M 2015 Construction segment Equipment segment Resources segment in EUR million Total 556 Total 465 Total 174 Germany 141 (25 %) Germany 115 (25 %) Germany 100 (57 %) Africa 51 (9 %) Africa 17 (4 %) Africa 6 (4 %) Americas 82 (15 %) Americas 87 (19 %) Ameri

  18. 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 requires considerably more working capital than in EUR million other companies in construction markets. 800 600  Changes during the year: - Levels of working capital in the balance sheet

  19. 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

  20. Slide 20: Income statement 9M 2015

    4 Financials Income statement 9M 2015 in EUR '000 9M 2014 9M 2015 ∆ in % Consolidated revenues (P&L) 1.136.422 1.134.782 -0,1% Sales revenues (P&L) 1.013.687 1.018.818 0,5% Material costs -600.828 -549.680 -8,5% Personnel costs -265.171 -280.915 5,9% Depreciation and amortization of fixed assets -57

  21. Slide 21: Balance sheet September 30, 2015

    4 Financials Balance sheet September 30, 2015 in EUR '000 Sept. 30, 2014* Sept. 30, 2015 ∆ in % Assets 1.700.198 1.710.720 0,6% Intangible assets 33.871 31.228 -7,8% Property, plant and equipment 442.649 443.993 0,3% Long term financial assets 23.491 84.685 n/a Other long term assets & deferred taxe

  22. Slide 22: Cash flow statement 9M 2015

    4 Financials Cash flow statement 9M 2015 in EUR '000 9M 2014 9M 2015 ∆ in % Cash flow from operating activities -22.625 -39.143 n/a Cash flow from investing activities -24.686 -39.176 n/a Cash flow from financing activities 41.315 84.874 105,4% Free Cash Flow -47.311 -78.319 n/a Changes in liquid fu

  23. Slide 23: Guidance 2015

    5 Guidance 2015 Top-line growth with a slight increase in profitability BAUER Group 2014e* 2014 final 2015e Total Group Revenues ~ 1,550 EUR million 1,560 EUR million ~ 1,600 EUR million EBIT ~ 75 EUR million 76.4 EUR million ~ 75 EUR million at lower end of Net result 15-20 EUR million 15.7 EUR mil

  24. Slide 24: Appendix

    Appendix A The BAUER Group p. 25 B What is specialist foundation? p. 28 C Construction projects p. 30 D Equipment programme p. 34 E Resources projects p. 39 F Market environment Germany p. 45 G BAUER share p. 46 H Key Figures Time Line p. 48 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schro

  25. Slide 25: The history – Two centuries of experience

    A BAUER Group The history – Two centuries of experience 1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2014 1790 1900-1970 1980-1990 2000-2014 End of 1970’s: Early 1980’s: FY 2014: Start of Selling of equipment to 4. Jul

  26. Slide 26: The three segments

    A 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

  27. Slide 27: Headquarters and plant Schrobenhausen, Germany

    A BAUER Group Headquarters and plant Schrobenhausen, Germany 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 27

  28. Slide 28: What is specialist foundation?

    B What is specialist foundation? Building an excavation pit Supporting Wall Ground Water Underpinning Injection Injection Anchor Pile Foundation Sealing Slab 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 28

  29. Slide 29: What is specialist foundation used for?

    B What is specialist foundation used for? Applications for projects Buildings Infrastructure Water – Energy Industry Foundations Excavation pits Cut-off walls Ground improvement 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 29

  30. Slide 30: Dubai, UAE – Vibro-compaction work for Palm Jumeirah

    C Construction Dubai, VAE – Vibro-compaction work for “Palm Jumeirah” 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 30

  31. Slide 31: Doha, Qatar – Construction pit for the Mozoon Towers

    C Construction Doha, Qatar – Construction pit for the Mozoon Towers 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 31

  32. Slide 32: Istanbul, Turkey – Diaphragm wall for Eurasia tunnel

    C Construction Istanbul, Turkey – Diaphragm wall for Eurasia tunnel 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 32

  33. Slide 33: Zwenkau, Germany – Construction works for Harth canal

    C Construction Zwenkau, Germany – Construction works for Harth canal 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 33

  34. Slide 34: Drilling rigs (BG series) – ValueLine

    D Equipment Product range: Drilling rigs (BG series) – ValueLine BG 20 BG 30 BG 38 ValueLine The BG ValueLine is a fully dedicated Kelly drilling rig. 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 34

  35. Slide 35: Drilling rigs (BG series) – PremiumLine

    D Equipment Product range: Drilling rigs (BG series) – PremiumLine BG 20 BG 42 BG 50 PremiumLine Multi-purpose drilling rigs for various applications of foundation works. 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 35

  36. Slide 36: Duty-cycle cranes (MC series)

    D Equipment Product range: Duty-cycle cranes (MC series) MC 64 MC 96 MC 128 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 36

  37. Slide 37: Deep Drilling (PR series)

    D Equipment Product range: Deep Drilling (PR series) PR 440 M2 In order to meet the upcoming PR 200 market challenges, out-of-the-box thinking is necessary and therefore customized rig solutions are of growing importance. Based on more than 40 years of experience in engineering and manufacturing of

  38. Slide 38: Product range: Underwater Drilling

    D Equipment Product range: Underwater Drilling 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 38

  39. Slide 39: Resources Segment – Pool of competences

    E Resources Segment Pool of competences from a single hand Water Environment Natural Resources  Industrial Waste Water  Remediation  Exploration Drilling  Process & Produced Water  Landfill Restoration  Deep Geothermal Drilling  NORM  Decommissioning  Oil & Gas Drilling  Constructed Wetlan

  40. Slide 40: Resources Segment – The Competence Centers

    E Resources Segment The Competence Centers Environment Natural Waste Treatment Resources & Disposal Water Drilling Constructed Water Well Techno- Wetlands Design & logies Remediation Construction Water Treatment Process Technology Beverage & Biotec 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-8652

  41. Slide 41: Water – Process Water & Water Distribution Management

    E Resources Water – Process Water & Water Distribution Management 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 41

  42. Slide 42: Environment – Soil remediation in Germany

    E Resources Environment – Soil remediation in Germany 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 42

  43. Slide 43: Environment – Reed Bed Water Treatment Plant in Oman

    E Resources Environment – Reed Bed Water Treatment Plant in Oman 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 43

  44. Slide 44: Natural Resources – Oil and Exploration Drilling in Jordan

    E Resources Natural Resources – Oil and Exploration Drilling in Jordan 15-11-13 IR-Presentation_9M_2015 © BAUER AG, D-86529 Schrobenhausen 44

  45. Slide 45: Market environment – Germany

    F Market environment – Germany German construction market Absolute Figures Change in % 2014 Germany August 2015 2014/ 2014/ Jan-Aug Germany 1995 2013 2015/2014 Employees in 1000 757,4 -46,4 0,1 -2,5 Revenues in EUR billion 99,4 -14,9 4,1 -1,8 Building construction 64,0 -18,8 4,5 -1,2 Foundation engi

  46. Slide 46: BAUER share Facts & Figures

    G BAUER share Facts & Figures Share performance (01/2015 – 11/2015)  Listed on Frankfurt stock exchange, Prime Standard, since July 4, 2006  Share capital EUR 73,001,420.45  Shares issued 17,131,000  Issue price EUR 16.75 Shareholder structure in EUR 2011 2012 2013 2014 2015 Earnings per share 1

  47. Slide 47: BAUER share Dividend policy

    G BAUER share Dividend policy Dividend payment Dividend policy founded on a reasonable in EUR per share 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 i

  48. Slide 48: Key Figures Time Line FY 2008 – Q3 2015

    H Key Figures Time Line FY 2008 – Q3 2015 Total Group Revenues 2008 2009 2010 2011 Q3 12 Q4 12 2012 Q1 13 Q2 13 Q3 13 Q4 13 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15 Q3 15 (in EUR million) BAUER Group 1.527,2 1.275,8 1.304,0 1.371,8 361,7 372,5 1.435,8 330,7 390,7 382,6 400,2 1.504,2 378,1 371,1

  49. Slide 49: BAUER Aktiengesellschaft Financial calendar 2016

    BAUER Aktiengesellschaft Financial calendar 2016 Publication Annual Report 2015 April 18, 2016 Annual Press Conference April 18, 2016 Analyst Conference April 18, 2016 Annual General Meeting June 23, 2016 Interim Report to March 31, 2016 May 13, 2016 Half-Year Interim Report to June 30, 2016 August

  50. Slide 50: 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

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