IR presentation Q1/2014 - BAUER · 2017. 5. 15. · Q1 2017 . in EUR million ∆ Q1 in % Total Group revenues, of which - Germany - International - Construction - Equipment - Resources

© BAUER AG, D-86529 Schrobenhausen 17-05-15 IR-Presentation_Q1_2017

BAUER AG

In-house exhibition 2017, Schrobenhausen/Germany

Group Presentation Q1 2017

© BAUER AG, D-86529 Schrobenhausen 17-05-15 IR-Presentation_Q1_2017 2

Key Figures Q1 2017

Q1 2016 in EUR million

Q1 2017 in EUR million

∆ Q1 in %

Total Group revenues, of which - Germany - International - Construction - Equipment - Resources

- Other/Consolidation

383.2 137.2 246.0 159.9 165.0 71.5

-13.2

455.7 128.2 327.5 213.4 191.6 63.4

-12.7

+18.9 % -6.5 %

+33.1 % +33.5 %

+16.2 % -11.4 %

n/a

Sales revenues 317.6 379.0 +19.3 % Order intake 388.6 491.9 +26.6 % Order backlog 1,001.0 1,044.3 +4.3 % EBITDA 27.4 30.5 +11.5 % EBIT 4.8 8.5 +75.7 % EBIT margin in % (of sales revenues) 1.5 2.3 n/a Earnings after tax -9.6 -3.9 n/a Earnings per share in EUR -0.59 -0.28 n/a Equity ratio in % 24.7 24.2 n/a Number of employees (average over the year) 10,634 10,854 +2,1 %


The BAUER Group recorded a very good start into the 2017 financial year, especially because of the positive development of the Construction and Equipment segments.

Total Group revenues increased by 18.9 % to EUR 455.7 million (2016: EUR 383.2 million) and sales revenues by 19.3 % to EUR 379.0 million (2016: EUR 317.6 million).

EBIT with EUR 8.5 million was therefore higher than in 2016 (EUR 4.8 million). Earnings after tax increased from EUR -9.6 million to EUR -3.9 million.

Order backlog of the Group continued to develop well and grew by 4.3 % to EUR 1,044.3 million (2016: EUR 1,001.0 million) as the order intake increased significantly by 26.6 % from EUR 388.6 million to EUR 491.9 million.

As a high double-digit million order backlog was taken off the books after the sale of shares in a real estate company at the end of 2016, this represents a significant increase in order volume in specialist foundation engineering.

Forecast 2017 remains unchanged: total Group revenues of around EUR 1.7 billion, EBIT of about EUR 75 million and earnings after tax of about EUR 23 to 28 million.

Highlights Q1 2017 – BAUER Group

Excavation pit for HSBC head office – Dubai


Table of Content

BAUER Group – Strategy, Chances & Markets

Appendix

Financials Q1 2017 & Guidance


The BAUER Group is a leading provider of services, equipment & products dealing with ground and groundwater.

Mission

Strategy

The world is our market.

Global network organization with flexible, decentralized management.

Three forward-looking segments providing high level of synergies: Construction, Equipment, Resources

World market leadership for foundation technology.

Powerful development of drilling applications and services for related markets.

Highly innovative products and services related to water, environment and natural resources.

Ground improvement – Germany

BAUER Group Mission & Strategy

EUR 1.6 billion total Group revenues EUR 68.3 million EBIT 4.9 % EBIT margin 25.5 % equity ratio 10,771 employees FY 2016

Key targets

Revenue growth: 3 - 8 % per year

EBIT margin: 7 - 9 %

Equity ratio: > 30 %


in EUR million (segment after deducting Other/Consolidation)

6 Note: from 2003 based on IFRS figures

1,600

Equipment 615

Construction Overseas 493

Total 1,586

Construction Domestic 216

Total Group revenues Longstanding healthy business development

1,000

1,400

800

600

200

0 1980 1982 1984 1986 1996 1998 2000 2002 2004 2006

Resources 262

1990 1988 1992 1994 2008 2010 2012 2014

1,200

400

1,800

2016


Worldwide network More than 110 subsidiaries in about 70 countries

Schrobenhausen

Kuala Lumpur Conroe Tianjin

Permanent Offices: Construction Equipment sales Resources Equipment production


BAUER Group Chances

Construction Equipment Resources

Growth potential in new markets and with specialized machines.

Strong position as a lot of efforts were made regarding quality, efficiency and noise reduction

Manufacture of customized deep drilling solutions in the joint venture with Schlumberger.

Powerful duty-cycle crane series, which entered new markets.

Innovative offshore equipment for the foundation of wind farms and tidal turbines.

Growing construction markets worldwide.

Huge pent-up demand in developed countries and in emerging markets.

Specialist foundation grows somewhat stronger than construction markets.

Construction segment with considerable number of major projects currently under construction and tendered for worldwide.

Full-service provider for products and solutions related to water.

Ground-breaking projects in the field of cleaning drinking and process water, e.g. a biological water treatment plant in Oman.

Promising opportunities due to its focus on growth markets water, environment and natural resources.

High expertise in exploration and mining services for natural resources.


World construction markets Bauer market potential

USA / Canada: public demand, infrastructure, power plants, dams, etc.

+

Other Americas: several chances in Central America

Africa: little construction activities; some special projects; demand for water and resources is slightly better

o Far East: positive development in all areas, especially Hongkong, Malaysia, Indonesia

+

Western Europe: weak markets with some positive trends

o

Germany: very good + Eastern Europe: slowly positive

development

Russia: crisis regarding Ukraine; difficult to predict.

Middle East: slowing down as a result of oil price

Central Asia: good market potentials +

-- weak - slightly weak o stable + growing ++ strong growth

o -

o

Last update: April 2017

o


2017 2018

2017 2018 2017 2018 2017 2018

2017 2018

2017 2018

2017 2018

2017 2018

2.0 2.0 3.5 3.6

2017 2018 4.5 4.8

1.1 2.0

1.7 2.1 2017 2018

6.4 6.4

1.4 1.4

6.6 6.2

3.1 3.0

2017 2018

2.3 2.5

0.2 1.7

2017 2018

2017 2018 1.7 1.6

1.6 1.5

2017 2018

2.6 3.5 2017 2018

2.6 3.4

Global economic situation IMF projection of the real annual GDP growth in %

Source: International Monetary Fund, World Economic Outlook Database, April 2017 * CIS = Commonwealth of Independent States (incl. Georgia; excl. Russia)

United States

Brazil

CIS*

Germany

Middle East & North Africa

Sub-Saharan Africa

World Advanced Economies Emerging Markets & Develop. Economies

Russia

Australia

Developing Asia

Latin America

Europe

China

10


Table of Content


Appendix



334 494 389 492

424 405

383

421 550

398

342

362 429

2014 2015 2016 2017

76,4 90,7

68,3

4,8 8,5 15,7

29,0 14,4

-9,6 -3,9

-25

0

25

50

75

100

2014 2015 2016 Q1 2016 Q1 2017

763

996 1.008 1.001 1.044

0

300

600

900

1.200

2014 2015 2016 Q1 2016 Q1 2017

12

Q1

Q2

Q3

Q4

Financials Revenues, earnings & orders – Group

Revenues

Earnings

Order backlog

Order intake

in EUR million

in EUR million in EUR million

in EUR million Total Group revenues Sales revenues

EBIT Earnings after tax

1,521

1,811 1,599

1.560 1.656 1.586

383 456

1.376 1.379 1.397

318 379

0

450

900

1.350

1.800

2014 2015 2016 Q1 2016 Q1 2017

+18.9 % +19.3 %

∆ Q1

+4.3 %

+26.6 %


153

206 585 578

160

213

BAUER Group Construction segment – Highlights Q1 2017

Construction

Global provider for specialist foundation engineering services

Focus on complex, international projects

~ 50/50 infrastructure / industrial

Full year 2016:

45 % of total Group revenues

EBIT margin: 4.9 %

Key targets:

~ 40 % of total Group revenues


Total Group revenues in EUR million

Q1 2016 Q1 2017

Order backlog in EUR million

Order intake in EUR million

Q1 2016 Q1 2017 Q1 2016 Q1 2017

The segment has an exceptionally good start into the year as nearly all projects started without delays. Therefore, total Group revenues increased by 33.5 % to EUR 213.4 million.

EBIT decreased slightly from EUR 1.0 million to EUR -0.2 million. Q1 figures have only little significance here. We expect a significant recovery over the course of the year.

Order backlog with EUR 578.3 million decreased slightly from EUR 584.7 million. The segment has a strong order book of 9.6 months. The order backlog in specialist foundation engineering increased considerably, as a high double-digit million order backlog was taken off the books after the sale of shares in a real estate company at the end of 2016.

Order intake increased significantly by 34.5 % to EUR 206.4 million (2016: EUR 153.5 million), as numerous projects were acquired in Q1.

13

+33.5 % +34.5 % -1.1 %


BAUER Group Construction segment – Revenues and order development



Construction

14

153

193 197 199 178 177 187 183 193

176 195

178 160 172

184 206 213

0

50

100

150

200

250

Q1/13 Q2/13 Q3/13 Q4/13 Q1/14 Q2/14 Q3/14 Q4/14 Q1/15 Q2/15 Q3/15 Q4/15 Q1/16 Q2/16 Q3/16 Q4/16 Q1/17

513 531 498 499 436

477 472 455 513

551 584 591 585 575 578 585 578

0

125

250

375

500

625


+33.5 %

-1.1 %


108

127

BAUER Group Equipment segment – Highlights Q1 2017

Market leader in specialist foundation equipment

New products for mining, deep drilling and offshore drilling

About 80 % of sales abroad

Full year 2016:


EBIT margin: 6.8 %

Key targets:



Sales revenues in EUR million


EBIT in EUR million

Equipment The segment recorded a very good first quarter, due to a generally more positive

development of the global construction machinery markets and the delivery of several large-scale equipment.

Total Group revenues increased by 16.2 % from EUR 165.0 million to EUR 191.7 million and sales revenues by 17.5 % from EUR 107.8 million to EUR 126.7 million.

Therefore, EBIT increased from EUR 5.9 million to EUR 9.3 million.

The reason was the significant increase of the order intake by 30.3 % to EUR 216.4 million, which led to an increase of the order backlog of 30.6 % from EUR 129.2 million to EUR 168.8 million.

Now the segment has an order book of 3.1 months.

15 Q1 2016 Q1 2017 Q1 2016 Q1 2017 Q1 2016 Q1 2017

+17.5 %

166

216 +30.3 %

5,9

9,3 +58.0 %


BAUER Group Equipment segment – Revenues and order development


Sales revenues in EUR million

Equipment

16

104 125 128

205

103 115 143

171

100 137 129

181

108 115 123

197

127

0

50

100

150

200

250


165 185

154 127

165 163 187

162 177

155 166 152 166 159 163 179

216

0

50

100

150

200

250


+17.5 %

+30.3 %


BAUER Group Equipment segment – Market development vs. Bauer

Sales revenues of the Bauer Equipment segment in EUR million

Revenues of 50 largest construction equipment manufacturers in USD billion

Equipment

Source: internationalconstruction (04/2016)

Revenues of the world’s 50 largest construction

equipment manufacturer saw a tremendous decline

between 2012 and 2016 of 31%.

In China the decline was even worse with a decline

of 50% and therefore the main reason for the

world’s market development.

A second reason was the fall in global commodity

prices, which hit sales of mining equipment.

The very competitive situation because of the

surplus production capacities in China is easing.

Bauer passed through this situation with a small

increase in revenues, which shows the success of

the efforts made regarding, quality, efficiency and

noise reduction of Bauer equipment.

Nonetheless, the market development lead to a

weaker margin situation in Equipment.

17

187 162 157

135 130

0

50

100

150

200

2012 2013 2014 2015 2016

521 562 545 548 543

0

150

300

450

600

2012 2013 2014 2015 2016

-31 %

+4 %


72 63

BAUER Group Resources segment – Highlights Q1 2017

Products & services related to water, environment and natural resources.

Service provider for the oil, gas and mining industry

Full year 2016:


EBIT margin: n/a

Key targets:





EBIT in EUR million

Resources Total Group revenues decreased by 11.4 % from EUR 71.5 million to EUR 63.4

million. The figure has only little significance in the first quarter. A recovery will be seen in the course of the year.

EBIT was already better than in the previous year and increased from EUR -1.6 million to EUR -0.3 million.

Order backlog grew by 3.5 % from EUR 287.1 million to EUR 297.2 million and is still on an excellent level. The segment has a sustainable order book of 13.5 months.

Order intake decreased slightly by 0.5 % from EUR 82.2 million to EUR 81.8 million.

The segment is now stabilizing after many reorganization measures in recent years.

18 Q1 2016 Q1 2017 Q1 2016 Q1 2017 Q1 2016 Q1 2017

287 297 -11.4 % +3.5 %

-1,6

-0,3


BAUER Group Resources segment – Revenues and order development



Resources

19

39

55 53 42

48 53 60

92

54 48

75

44

72 67 66 59 63

0

20

40

60

80

100


165 183 177 150 173 169 172 153 173

174

274 276 287 294 290 279 297

0

70

140

210

280

350


-11.4 %

+3.5 %


in EUR million

Total 1,586

in EUR million

Africa 77 (4 %) Americas 297 (18 %)

Asia-Pacific, Far East & Australia 348 (21 %)

Middle East & Central Asia 227 (14 %)

Germany 474 (29 %)

EU excl. Germany 162 (10 %)

Europe (other) 71 (4 %)

Total 1,656

Full year 2015

Africa 75 (5 %)

Americas 236 (15 %)



Germany 481 (30 %)



Financials Regional breakdown – Total Group revenues FY 2016


in EUR million Total 709 Total 615 Total 262

Construction segment Equipment segment Resources segment

Africa 49 (7 %)

Americas 76 (11 %)



Germany 216 (30 %)



Africa 20 (2 %)

Americas 172 (23 %)



Germany 164 (16 %)



Africa 11 (4 %)

Americas 18 (7 %)



Germany 167 (64 %)


Europa (other) 3 (1 %)

Financials Regional breakdown – Segments FY 2016

Figures after deducting Other/Consolidation


Financials Working capital & net debt – typical cycle during the year

Net debt (excl. pensions) in EUR million

Working capital in EUR million

686 721 717

605

711 720 736

604

726 701 700 629

672 709 684 608

674

0

150

300

450

600

750


724 777 781 672

773 776 778

646

779 752 749 665

743 762 736 677

740

0

160

320

480

640

800


+0.3 %

-0.4 %


Financials Working capital & net debt – requirements and development

Total Group revenues / net debt in EUR million

1.372 1.436 1.504 1.560 1.656 1.586

645 611 672 646 665 677

0

350

700

1.050

1.400

1.750

2011 2012 2013 2014 2015 2016

Working capital / net debt in EUR million

626 580 605 604

629 608 645 611 672 646 665 677

0

150

300

450

600

750

2011 2012 2013 2014 2015 2016

Net debt Working capital

Net debt Total Group revenues

Bauer’s business model with its three segments requires considerably more working capital than other companies in construction markets.

Changes during the year:

- Levels of working capital in the balance sheet during the year are typically higher than year-end positions.

Construction segment:

- Construction contracts with short duration need approx. 2 - 3 months pre-financing (no advance payments, no front-loading of prices possible, comparably long time needed for final account settlement).

- On some jobs collection of money takes long time due to disputes with the customer. Bad payment is frequently used by customers to achieve reductions in final payments. This can cause law cases.

Comparison with main contractor: they can finance their company by a positive cash flow from jobs.

+15.6 % +5.0 %

∆ 2011/2016


Building construction positive cash contribution

Specialist foundation engineering pre-financing need

Financials Working capital needs & cash flow

EUR

12 24 months

Positive cash contribution

Negative cash contribution

Con

trac

t val

ue

EUR

Negative cash contribution

12 24 months

Con

trac

t val

ue

Equipment segment:

- 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.

- Spare parts store is needed for large customer base.

- A relatively large rental fleet is needed for different contract types (e.g. rental purchase).

- Deep drilling rigs add large numbers in value.

Resources segment:

- A mixture of the Construction and Equipment segments.


Financials Income statement 3M 2017 in EUR '000 3M 2016 3M 2017 ∆ in % Sales revenues (P&L) 317,641 379,042 19.3%

Consolidated revenues (P&L) 365,514 418,734 14.6%

Cost of materials -172,074 -225,639 31.1%

Personel expenses -90,644 -94,422 4.2%

Other operation expenses -75,444 -68,166 -9.6%

EBITDA 27,352 30,507 11.5%

Depreciation of fixed assets -18,493 -18,355 -0.7%

Write-downs of inventories due to use -4,013 -3,637 -9.4%

EBIT 4,846 8,515 75.7%

Financial income 667 2,411 n/a

Financial expenses -11,101 -10,258 -7.6%

Share of profit/loss of associated companies (equity method) -201 -37 n/a

Earnings before tax (EBT) -5,789 631 n/a

Income tax expense -3,837 -4,528 18.0%

Earnings after tax -9,626 -3,897 n/a

of which attributable to shareholders of BAUER AG -10,040 -4,746 n/a

of which attributable to non-controlling interests 414 849 n/a


Financials Balance sheet March 31, 2017 in EUR '000 March 31, 2016 March 31, 2017 ∆ in % Assets 1,700,719 1,787,920 5.1%

A. Non-current assets 628,536 633,364 0.8% I. Intangible assets 26,479 24,484 -7.5%

II. Property, plant and equipment and investment property 411,320 402,205 -2.2%

III. Investments accounted for using the equity method 130,658 128,320 -1.8%

IV. Participations 3,460 9,746 n/a

V. Other non-current assets & deferred tax assets 56,619 68,609 21.2%

B. Current assets 1,072,183 1,154,556 7.7% I. Inventories 472,390 470,601 -0.4%

II. Receivables and other assets 532,794 614,074 15.3%

III. Effective income tax refund claims 2,837 4,571 61.1%

IV. Cash and cash equivalents 64,162 45,933 -28.4%

V. Assets classified as held for sale 0 19,377 n/a

Equity and liabilities 1,700,719 1,787,920 5.1%

A. Equity 420,387 431,852 2.7% B. Non-current debt 546,101 623,558 14.2% I. Provisions for pensions 127,742 124,198 -2.8%

II. Non-current liabilities & deferred tax liabilities 418,359 499,360 19.4%

C. Current debt 734,231 732,510 -0.2% I. Financial liabilities 418,674 316,826 -24.3%

II. Other current liabilities 281,680 387,270 37.5%

III. Effective income tax obligations 15,722 9,869 -37.2%

IV. Provisions 18,155 18,545 2.1%


Financials Cash flow statement 3M 2017 in EUR '000 3M 2016 3M 2017 ∆ in %

Cash flow from operational activity -41,703 -38,557 n/a

Cash flow from investment activity -26,176 -6,967 n/a

Cash flow from financing activity 87,583 57,995 -33.8%

Free Cash Flow -67,879 -45,524 n/a

Changes in liquid funds affecting payments 19,704 12,471 -36.7%

Influence of exchange rate movements on cash -2,948 -1 n/a

Total change in liquid funds 16,756 12,470 -25.6%

Cash and cash equivalents at beginning of reporting period 47,406 33,463 -29.4%

Cash and cash equivalents at end of reporting period 64,162 45,933 -28.4%


BAUER Group Forecast 2017

2016 final

Total Group Revenues 1,586 EUR million ~ 1,700 EUR million

Revenue growth -4.2 % 3 - 8 %

EBIT 68.3 EUR million ~ 75.0 EUR million

EBIT margin 4.9 % 7 - 9 %

Earnings after tax 14.4 EUR million ~ 23 - 28 EUR million

Equity ratio 25.5 % > 30 %

2017 forecast Long-term

Tunnel under Suez Canal – Egypt Soil replacement – Hersbruck, Germany Bauma 2016 – Munich, Germany


Investor Relations BAUER Aktiengesellschaft BAUER-Straße 1 86529 Schrobenhausen Germany Tel.: +49 8252 97-1218 Fax: +49 8252 97-2900 [email protected] www.bauer.de

Annual Report 2016 April 13, 2017 Annual Press Conference April 13, 2017 Analyst Conference April 13, 2017 Annual General Meeting June 29, 2017 Quarterly Statement Q1 2017 May 15, 2017 Half-Year Interim Report to June 30, 2017 August 11, 2017 Quarterly Statement 9M/Q3 2017 November 14, 2017

Listing CDAX, GEX, Classic All Share Prime All Share DAXplus Family

ISIN DE0005168108 Reuters B5AG.DE Bloomberg B5A GR

www.youtube.com/Bauergruppe www.facebook.com/BauerAGgroup

Investor Relations Financial calendar & contact


Table of Content


Appendix



1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2016

BAUER Group The history – Two centuries of experience

End of 1970’s: Start of

internationalisation

Early 1990’s: Build up of

specialist construction/ environmental business

FY 2016: Total Group

revenues EUR 1.586

billion, 10,771

employees

4. Jul 2006: IPO

Early 1970’s: Start of equipment

manufacturing

Company founded as copper forge

After WW II (1950's): Start of construction

business

Early 1980’s: Selling of equipment to

third parties

1790 1900-1970 1980-1990 2000-2016


BAUER Group The three segments

32 © BAUER AG, D-86529 Schrobenhausen

Target: ~ 40 % of total Group revenues

Market leader in specialist foundation equipment

New products for mining, deep drilling and offshore drilling

80 % of revenues from sales abroad

Multi-branding strategy

Target: ~ 40 % of total Group revenues Global provider for specialist foundation engineering services Specialist construction services Focus on complex, international projects

Target: ~ 20 % of total Group revenues Activities in

environmental technology, deep drilling, well construction, materials


What is specialist foundation? Building an excavation pit

Ground Water

Injection Anchor

Sealing Slab

Supporting Wall

Underpinning Injection

Pile Foundation


What is specialist foundation used for? Applications for projects

Foundations Cut-off walls Excavation pits

Buildings Infrastructure Water – Energy Industry

Ground improvement


BAUER Group Challenges of the world provide chances for the company

Urbanization Infrastructure Water

Environment Energy / Oil & Gas Values

The megatrend urbanization leads to more complex inner-city solutions

High demand for new infrastructure and for restoration of existing structures

Changing social values influence the working and corporate environment

The pollution and contamination of soil require innovative purification solutions

Energy and resource scarcity provide chances for underwater and deep drilling

The shortage of clean drinking water is one of the worlds biggest problems


BAUER Group Solutions for the biggest challenges and megatrends

Urbanization & Infrastructure

Water

Environment

Energy / Oil & Gas

Leading position in special foundation engineering.

Global activities with presence in over 50 countries worldwide.

Construction Equipment

Resources

Market leader in specialist foundation equipment.

Focus on specialized and high-end equipment.

Construction Innovative construction

methods and services with a special focus on environmental issues.

Extensive solutions in the field of decontaminating polluted ground and groundwater and for remediation works.

Equipment Resources Longstanding experience in

the manufacture of well drilling rigs.

Innovative products and services for wells and for cleaning of drinking and process water.

Equipment Resources Customized solutions for

deep drilling, which set new standards of safety, efficiency, productivity and service.

Comprehensive service provider for clients in the exploration and mining fields.


Construction Diavik, Canada – Diaphragm wall for Diavik Diamond Mines


Construction Sydney, Australia – Foundation works for new hotel complex


Equipment Product range: Drilling rigs (BG series) – ValueLine

BG 30 BG 38 BG 20

ValueLine The BG ValueLine is a fully dedicated Kelly drilling rig.


Equipment Product range: Drilling rigs (BG series) – PremiumLine

BG 42 BG 50 BG 20

PremiumLine Multi-purpose drilling rigs for various applications of foundation works.


Equipment Product range: Duty-cycle cranes (MC series)

MC 128 MC 96 MC 64


Equipment Product range: Deep Drilling

PR 440 Joint Venture of Bauer & Schlumberger

In order to meet the upcoming 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 drilling rigs, NeoRig develops and manufactures

customized drilling solutions which set new standards of safety,

efficiency, productivity and ease of service in the deep drilling

business.


Resources Segment Pool of competences from a single hand

Industrial Waste Water Process & Produced Water NORM Constructed Wetlands Modelling & Well Design Construction Material for Wells

and Geothermal Water Distribution Management Irrigation Systems

Remediation Landfill Restoration Decommissioning Demolition Hazardous Waste Management Soil Treatment and Waste

Management

Exploration Drilling Deep Geothermal Drilling Well Drilling Blast Hole Drilling

Environment Water Natural Resources


Resources Water – Process Water & Water Distribution Management


Market environment – Germany German construction market

Source: Federal Statistical Office, Statistical Office Bavaria

Germany2016

Employees in 1000

Revenues in EUR billion 107.3Building construction 69.2Foundation engineering 38.1

Orders received *in EUR billion

Housebuilding 15.3Industrial building 27.5Public sectorof which

public buildings 4.3road building 12.0underground structures 8.7

*) only companies > 20 employees

0.8

-12.3

0.4

1.6

1.4

18.8

16.82.9

7.0

2.4

6.3

-3.0

35.9

6.5

-21.9

13.3

1.1

9.3

-25.3

-13.8-4.3

December 2016 2015/ 2016/1995 2014 20152016/

11.9

25.0

67.8

-44.7

-8.1

781.4

5.9

9.2

-13.6 5.2 14.6

5.4

1.9

17.0

16.3


BAUER share Facts & Figures

Bauer family Free float

51.81 %

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

Share performance (05/2016 – 05/2017)

in EUR 2013 2014 2015 2016 2017

Earnings per share -0.99 0.85 1.73 0.66 ---

Share price year end 18.81 13.35 17.40 11.40 ---

Share price highest 23.05 20.04 19.20 17.16 18.11

Share price lowest 17.33 11.75 13.85 9.45 11.72

Market Cap (in EUR million)

322.2 228.7 298.1 195.3 ~300

48.19 %


BAUER share Dividend policy

2009

Dividend payment

2010 2008 2007 2006

0.30

0.00

0.60

0.90

1.20

0.50

1.00 1.00

0.60 0.60

Dividend policy founded on a reasonable balance between shareholders and company

fair participation of shareholders continuity over the years safeguarding of the equity base

All shareholders shall participate in the success of the business. In turbulent times such as the financial crisis our goal of strategic and safe growth of the company led to higher profit retention for the last years. To secure an adequate equity ratio is an important aim of the company’s management. With this we intend to safeguard the long-term success of the Group.

2011

0.50

2012

0.30

2013

0.00

0.15

2014

in EUR per share

2015

0.15

2016

0.10*

* Proposed; subject to the consent of the Annual General Meeting to be held on June 29, 2017


Key Figures Time Line FY 2008 – Q1 2017

In all three segments, total Group revenues and EBIT figures of Q4 2015 and FY 2015 were influenced by exceptional earnings.

Total Group revenues 2008 2009 2010 2011 2012 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15 Q3 15 Q4 15 2015 Q1 16 Q2 16 Q3 16 Q4 16 2016 Q1 17

(in EUR million) BAUER Group 1,527.2 1,275.8 1,304.0 1,371.8 1,435.8 1,504.2 378.1 371.1 413.9 397.1 1,560.2 409.1 371.3 414.5 461.5 1,656.4 383.1 373.8 389.3 439.9 1,586.1 455.7 Construction 700.9 570.0 615.4 606.6 655.2 741.7 178.5 173.0 181.8 192.3 725.6 193.5 176.4 194.5 178.5 742.9 159.9 172.0 184.5 205.7 722.1 213.4 Equipment 780.1 608.5 581.7 636.5 589.1 628.6 163.8 157.6 186.1 131.7 639.2 173.8 159.6 163.2 256.5 753.1 165.0 147.5 153.3 186.0 651.7 191.6 Resources 135.1 174.3 177.7 211.5 262.8 188.9 48.4 52.5 59.6 92.3 252.8 54.3 47.8 75.1 44.4 221.6 71.5 67.4 66.5 59.4 264.7 63.4 Sales revenues

2008 2009 2010 2011 2012 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15 Q3 15 Q4 15 2015 Q1 16 Q2 16 Q3 16 Q4 16 2016 Q1 17 (in EUR million)

BAUER Group 1,290.8 1,096.5 1,131.7 1,219.6 1,344.4 1,402.2 313.4 332.2 368.1 362.0 1,375.7 299.6 342.4 376.8 360.2 1,379.0 317.6 332.2 342.8 404.3 1,396.9 379.0 Construction 584.3 487.9 505.8 506.2 579.1 657.5 167.8 160.8 163.5 154.5 646.6 156.0 163.9 179.4 151.5 650.8 143.6 154.9 162.7 153.3 614.5 196.6 Equipment 601.2 456.5 469.3 511.4 520.6 561.6 102.9 120.6 147.4 161.8 532.7 100.5 137.4 129.3 180.8 548.0 107.8 115.2 123.0 196.7 542.7 126.7 Resources 105.1 152.0 156.4 201.5 244.3 182.6 42.5 50.7 57.2 45.5 195.9 42.9 40.9 67.9 27.6 179.3 65.9 61.6 56.7 54.0 238.2 55.4 EBIT

2008 2009 2010 2011 2012 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15 Q3 15 Q4 15 2015 Q1 16 Q2 16 Q3 16 Q4 16 2016 Q1 17 (in EUR million)

BAUER Group 167.5 84.4 88.4 82.3 72.0 30.1 4.9 8.7 24.7 38.1 76.4 1.2 14.8 20.4 54.3 90.7 4.8 13.5 19.7 30.3 68.3 8.5 Construction 46.3 25.7 28.8 17.9 22.0 21.2 1.5 6.0 12.9 5.6 26.0 4.9 5.5 2.0 1.5 13.9 1.0 4.3 7.3 17.8 30.4 -0.2 Equipment 118.3 51.3 48.3 53.0 34.0 32.2 5.6 7.7 12.7 10.0 36.0 -0.9 9.3 16.2 74.8 99.4 5.9 7.5 9.4 14.2 37.0 9.3 Resources 4.0 6.0 8.1 10.9 15.2 -24.0 -2.1 -1.2 -2.4 21.6 15.9 -2.9 -0.3 2.0 -18.6 -19.8 -1.6 1.5 3.5 -6.6 -3.2 -0.3 EBIT margin

2008 2009 2010 2011 2012 2013 Q1 14 Q2 14 Q3 14 Q4 14 2014 Q1 15 Q2 15 Q3 15 Q4 15 2015 Q1 16 Q2 16 Q3 16 Q4 16 2016 Q1 17 (in %)

BAUER Group 13.0% 7.7% 7.8% 6.7% 5.4% 2.1% 1.6% 2.6% 6.7% 10.5% 5.6% 0.4% 4.3% 5.4% 15.1% 6.6% 1.5% 4.1% 5.7% 7.5% 4.9% 2.2% Construction 7.9% 5.3% 5.7% 3.5% 3.8% 3.2% 0.9% 3.7% 7.9% 3.6% 4.0% 3.1% 3.4% 1.1% 1.0% 2.1% 0.7% 2.8% 4.5% 11.6% 4.9% -0.1% Equipment 19.7% 11.2% 10.3% 10.4% 6.5% 5.7% 5.4% 6.4% 8.6% 6.2% 6.8% -0.9% 6.8% 12.5% 41.4% 18.1% 5.5% 6.5% 7.6% 7.2% 6.8% 7.4% Resources 3.8% 3.9% 5.2% 5.4% 6.2% -13.1% -4.9% -2.4% -4.2% 47.5% 8.1% -6.8% -0.7% 2.9% -67.4% -11.0% -2.4% 2.4% 6.2% -12.2% -1.4% -0.5%


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 are currently available to the management of BAUER AG and therefore speak only as of the date they are made. We assume no liability to update publicly or conform any of them to future events or future developments. Forward-looking information is subject to various known and unknown risks and un-certainties, which could lead to material differences between the actual future results, financial situation, development or performance of the BAUER Group and those factors contained in any forward-looking statement. In view of these uncertainties, no assurance can be given that these forward-looking statements will prove accurate and correct, or that anticipated and projected future results will be achieved and we caution you not to place undue reliance on these forward-looking statements.

BAUER AGKey Figures�Q1 2017Foliennummer 3Table of Content Foliennummer 5Foliennummer 6Foliennummer 7Foliennummer 8World construction markets �Bauer market potentialGlobal economic situation�IMF projection of the real annual GDP growth in %Table of Content Foliennummer 12Foliennummer 13Foliennummer 14Foliennummer 15Foliennummer 16Foliennummer 17Foliennummer 18Foliennummer 19Foliennummer 20Foliennummer 21Foliennummer 22Foliennummer 23Financials �Working capital needs & cash flowFinancials�Income statement 3M 2017�Financials �Balance sheet March 31, 2017Financials�Cash flow statement 3M 2017Foliennummer 28Foliennummer 29Table of Content BAUER Group�The history – Two centuries of experienceBAUER Group�The three segmentsWhat is specialist foundation?�Building an excavation pitWhat is specialist foundation used for?�Applications for projectsBAUER Group�Challenges of the world provide chances for the companyBAUER Group�Solutions for the biggest challenges and megatrendsConstruction�Diavik, Canada – Diaphragm wall for Diavik Diamond MinesConstruction�Sydney, Australia – Foundation works for new hotel complexConstruction�Dogern, Germany – Dike remediation with Mixed-in-PlaceEquipment�Product range: Drilling rigs (BG series) – ValueLineEquipment�Product range: Drilling rigs (BG series) – PremiumLineEquipment�Product range: Duty-cycle cranes (MC series)Equipment�Product range: Deep DrillingResources Segment�Pool of competences from a single hand�Resources�Water – Process Water & Water Distribution ManagementResources�Environment – Remediation of Kesslergrube landfill, GermanyMarket environment – Germany �German construction market BAUER share�Facts & FiguresBAUER share�Dividend policyFoliennummer 50Disclaimer

Documents

IR presentation Q1/2014 - BAUER · 2017. 5. 15. · Q1 2017 . in EUR million ∆ Q1 in % Total Group revenues, of which - Germany - International - Construction - Equipment - Resources