Rosenbauer Group...Sep 23, 2020 · From 2009 to 2018 the global firefighting vehicle market has constantly outperformed world GDP, which grew at an annual average rate of 3.5% In

Rosenbauer Group

PersonDate

Capital Markets Day

Dieter Siegel I CEOSebastian Wolf I CFOAndreas Zeller I CSODaniel Tomaschko I CTO September 23, 2020

Rosenbauer Group

Investor Presentation I 2

Disclaimer

This presentation was produced by Rosenbauer International AG(Rosenbauer for short) for informational purposes only. Despite thegreatest care taken by Rosenbauer, no guarantee is given for thecorrectness and completeness of the content.This presentation may not be reproduced, transmitted, or distributed(neither in its entirety nor in part). Unless otherwise stated, all information(including financial statements and forecasts) is the property ofRosenbauer and may therefore be changed without prior notification byRosenbauer.All decisions based on information included in the Rosenbauerpresentation are the sole responsibility of the user. Rosenbauer acceptsno liability for the actions and consequences resulting from the use of thepresentation.None of the information provided in the presentation constitutes, or isintended to be, an invitation to buy or trade in Rosenbauer shares.

Agenda

1. Rosenbauer Group at a glance

2. Revolutionary Technology – The fire truck of the future

3. H1 2020 financial figures and working capital initiatives

4. Improving operational performance further

5. Recent market developments

6. Outlook

Q & A

Rosenbauer Group at a glance


Equity story

■ System provider of fire-fighting equipment andpreventive fire protection

■ First mover pioneeringsustainabilitytechnologies

■ Hybrid fire truck„RevolutionaryTechnology“ (RT)

■ Present in around 120 countries■ 9 Production sites in Europe, 3 in the US and

4 in Asia■ Around 250 sales

partners worldwide■ Broad diversification

by geographiesand products

■ High R&D expenditures, Rosenbauer Group holdsmore than 200 patents

■ Above-the-market growth over the last 10 years■ Sustainable dividend policy, safe dividend

payments

GLOBAL MARKET LEADER INNOVATION LEADER

UNRIVALLED WORLDWIDE NETWORK RESILIENT BUSINESS MODEL

Investor Presentation

■ Globally leadingproducer of fire-fighitng vehicles

■ 16 % RB marketshare (global marketvolume 2018: around19,500 units)


Strategic basic direction

Sustainable profits and reinforcement of market leadership through the expansion of technology leadership and exciting products

Increase in perceived customer value by means that also result in economies of scale

Faster and more profitable due to repetition effects in products and processes

Increase in strategic flexibility through use of all potential for cost optimization

Organic growth through a balanced relationship between investments and earnings

Rosenbauer employees who take pride in their work

Focus on core business

Our customers’ first choice.


World firefighting vehicle market 2009-2018

Fire-fighting vehicle market worldwideApproximate number of vehicles in thousands

Fire-fighting vehiclemarket worldwideGlobal annual volumein EUR billion

16 16 15 1617

21.5 2219 21 19.5

2009 1110 1614 201812 1513 17

+2.2%p.a.

3 3 2.8 3.13.4

3.74.2 4.3 4.3

4.8

15102009 111 12 13 1614 17 2018

+5.4%p.a.

541.8595.7

541.6645.1

737.9813.8

865.4870.8

847.6909.4

978.1

2019161514132009 10 11 12 17 18

+5.9%p.a.

■ From 2009 to 2018 the global firefighting vehicle market has constantly outperformed world GDP, which grew at an annual average rate of 3.5%

■ In 2018 market volume was about € 4,800 million (2017: € 4,250 million) / 19,500 units (2017: 21,100 units)■ Rosenbauer holds market shares of 16% (value) and 11% (units) respectively

Rosenbauer GroupRevenuesin EUR million


Revolutionary Technology –The fire truck of the future


Neo Ecology / Mobility

Urbanization

Silver Society / Gender Shift

Selected megatrends drivingthe firefighting industry

Tighter rules on exhaust emissions, local bans of diesel cars

60% of the world population will live in cities by 2030 and 74% by 2050

Demographic development will significantly influence the availability of firefighters


The fire truck of the future

2020Presentation of RTand start of testoperation

2017Start of seriesdevelopment andfoundation of RED

2016Presentation of theCFT at the 150thanniversary party

2014Start of developmentfor the CFT conceptstudy

2012The vision.Fire-fighting trendmap

Discussion about the futureTrend map 1.0



2018Innovation partnership with Berlin

2020Partnerships with L.A.,Portland and Vancouver2019

Partnerships with Amsterdam,Oslo and Canberra, 1st vehicle forDubai



Revolutionary Technology: Sustainable, safe and smart

The hybrid electric drive enables purely electric operation in municipal firefighting operations and a vehicle architecture tailored to the requirements of modern, urban fire departments with a focus on

safety ergonomics functionality and digital operational support.


RT – The technological concept

The RT was developed as a complete vehicle, i.e. the superstructure and cab are no longer

separate.

The basic structure consists of the core pipewith two identical axle subframes with

independent suspension and pneumaticsuspension with level control. Each axle has a

separate drive unit with electric motor, transmission and differential.

There is a range extender and pump locatedin the „energy tower“ over the rear axle.

Fully integrated cabin

Revolutionary drive system

Range extender


Video „Making of …“


Vehicle dynamics, agility and driving safety

Connectivity and digitalization

Ergonomics and health protection

High utility value and cost-effectiveness

Reduction in CO2emissions and sustainability

RT stands for …


RT: The hybrid drive

Up to

90%of all fire brigadeoperations can bewound upelectrically.

Li-Ion batteries [50 kWh] Electric motors [180 kW peak] Inverters High voltage distribution E-PTO System engineered according to ISO26262 Same components as used in Volvo trucks and

busses

Range extender application BMW B57 6 cylinder diesel

engine 200 kW, 600 Nm


Electrically driven RTE Robot with high payload for universal deployment

■ RTE (Rosenbauer Technical Equipment) Robot is the onlyrobot available in the market, which is directly compatiblewith the fire brigades.

■ Due to its compact dimensions RTE Robot goes with any logistic vehicle, which can carry a euro pallet.

■ As a fire extinguishing robot it may be invaluable entering hazardousareas instead of first attack troops.

■ Supports with fire operations, logistic and rescue tasks


E-mobility: Rosenbauer to presentextinguishing system for battery fires

Extinguishing tactics – Fire progress and water consumption

Recognising thesituation Extinguishing Analysis

battery fireFighting

battery fire Safe state of battery

e-car

15 - 60 minutes

100 - 500 l 500 – 2,000 l 100 - 500 l

Our objectives Protect emergency

personnel Handle the operation

safely & rapidly, environmentally-friendly, cost-effectively and withoutred tape

Build publicconfidence worldwide

5,000 – 10,000 l CONTAINER

∑ 1,000- 4,000 lWATER CONSUMPTION

Focus

H1 2020 financial figures andworking capital initiatives


Rosenbauer Group highlights

■ The Rosenbauer Group increases revenues by 16 % to € 458,0 million in the first six months 2020, which marks a new all-time-high with regards to the reporting period■ All sales areas contribute to revenue growth; foremost Area NISA, Area MENA

and Area NOMA ■ In spite of the COVID-19 pandemic EBIT improves to € 5.4 million

■ Financial strain from the global health crisis amounts to € 9 million ■ As TWC efforts show first results net debt remains stable year-on-year,

operating cash flow is significantly better■ Order intake with € 455.3 million on the same level as revenues, order backlog

still rock solid■ Against this backdrop Rosenbauer management expects revenues 2020 to

exceed previous year´s figure moderately, EBIT margin between 4% and 5%


Financial figures

€ million 1-6/2018 1-6/2019 1-6/2020 2019/ 2020

Revenues 352.7 394.6 458.0 +16%

EBIT 10.1 5.2 5.4 +4%

EBIT margin 2.9% 1.3% 1.2% -

EBT 6.1 2.0 2.5 +25%

Net profit for the period 5.3 1.6 2.2 +38%

Cash flow from operating activities -39.4 -115.7 -34.0 +71%


Investments

CAPEX, depreciation and amortization€ million

■ Increase in efficiency at plant II in Leonding■ Welding robot for aerial ladder production in Karlsruhe■ Procurement of SAP ERP licenses

*) Depreciation and amortization relate to rights and property, plant and equipment (without using rights according to IFRS 16)

7,7 8,26,8 7,07,8 8,4 8,3 8,6

0,9 0,6 3,7

0,2

2,8 0,93,1

3,7

H12017

H12018

H12019

H12020

Investments Depreciation and amortization*Capitalized R&D and change in IFRS 16 Depreciation of intangibles and IFRS 16

8,6

10,68,8 9,3

10,511,4

7,2

12,3


Accounting ratios

€ million / % Jun. 30, 2019 Dec. 31, 2019 Jun. 30, 2020 FY 2019/ H1 2020

Total assets 900.8 977.5 989.5 +1%

Equity ratio 25.1% 25.9% 25.2% -

Capital employed (ø) 597.2 603.8 696.7 +15%

ROCE 0.9% 8.6% 0.8% -

ROE 0.9% 18.6% 1.0% -

Net debt 396.8 342.5 393.4 +15%

Gearing ratio 175.6% 135.1% 158.1% -

1) Total assets without application of IFRS 16: 957.2 m€2) Equity ratio without application of IFRS 16: 26.0%3) Net debt without application of IFRS 16: 360.9 m€4) Gearing ratio without application of IFRS 16: 144.9%

1

2

3

4


■ Long throughput times of 8 to 12 months■ Prepayments averaging 15%■ Average payment term of 78 days

Trade working capital and financing

FINANCING€ m i l l i o n

TRADE WORKING CAPITAL€ m i l l i o n

Trade Working Capital*€ million

Financing€ million

388,6

514,9 505,6

909,4978,1 > 978,1**

42,7%

52,6% 51,7%

0%

20%

40%

60%

80%

0

250

500

750

1000

H1 2018 H1 2019 H1 2020

Trade Working CapitalAnnual RevenueTrade Working Capital / Annual Revenue

245,5

396,8 393,4

220,7 225,9 248,9

111,2%

175,6%

158,1%

50,00%

70,00%

90,00%

110,00%

130,00%

150,00%

170,00%

190,00%

0

50

100

150

200

250

300

350

400

H1 2018 H1 2019 H1 2020

Net debtEquityGearing Ratio

*) Trade Working Capital = Inventories + trade receivables - contract liabilities - trade payables**) Guidance 2020


Trade working capital initiatives: Optimizing the cash conversion cycle

Targets

Reduce our CCC by 20% to 145 days

Reduce our trade working capital by 80 Mio. EUR

Bring our trade working capital to a level below 40% of turnover

How to achieve

Approved projects■ Work in progress■ Standardization■ Payment terms clients■ Procurement■ Finished goods■ Organization

Estimateddecrease of TWC€ 80 million

until year-end2021


How can we … reduce our CCC by

20 % to 145 days reduce our Trade Working

Capital by 80 Mio. EUR bring our TWC to a level

below 40 % of turnover… until the end of 2021?

Work inProgress

Standardi-zation

Organi-zation

PaymentTermsClient

FinishedGoods

Procure-ment

Optimizing CCC – Concrete measures

Order clarification for all locations (production/sales locations) Reduction of unplanned requirements RBI Optimized loading planning Europe-wide program planning WIP reduction production Luckenwalde, Karlsruhe, Neidling tbd.

Parts plant process, reduction of new parts

Standardization strategy project Reduction of overstock

Optimization of payment terms for customers

Adjustment of Group guideline accounts receivable management

Factoring

Reduction stock vehicle equipment Reduction of raw materials/bought-in parts Optimization of payment terms for suppliers Chassis purchasing model Outsourcing of assemblies (Karlsruhe) Reduction of the number of suppliers

Reduction of finished vehicles

Reduction of stock vehicles RBK

Reduction demonstration vehicles RBK

Business model rental vehicles

Standardizedreporting

Bonificationsystem

Improving operational performance further


Optimization program AT / ET

■ Process design (normal 360, max. 405 units)

■ Reorganisation of infrastructure

■ Relocation of ET production to Radgona

■ Focus on efficiency (improved GP)

■ Cost reduction

■ 35% WIP reduction already achieved


Optimization Panther 220

■ Process design (normal 200, max. 220 units)

■ New building with 5 more workstations

■ Focus on reduction of lead time

■ WIP reduction

■ 20% productivity planned

■ New logistics concept


Optimizations Radgona and Karlsruhe

Logistic centre Radgona

■ Actual space is not enough to handle future activities

■ 800m² for 2.500 pallets

■ Finish: April 2021

First robot-supported production of ladder setsin Karlsruhe

■ Increased process reliability, precision and quality

■ Completely new logistics concept

■ Productivity increased by 40%


Optimizations

Continuous improvement process (CIP)

■ 2019: CIPs completed: 523; Effect: € 382.000,-

New service centre in Asten

■ Perfect location (Highway A1)

■ Potential for higher turnover

■ Actual infrastructure is to small

■ In Leonding 1 space is needed for RT

■ 7 to 10 workstations (2 for refurbishment)

■ Incl. shop, office, meeting rooms


Launch management RT

Target: Series production of 200 RTs per yearin 2031

■ Processes and infrastructure for E-mobility

■ Building approval

■ Operational permit

■ Employee qualification for high voltage

■ 12 standards for high voltage technics

■ Quarantine area for batteries

Recent market developments


COVID-19 pandemic:Risks to Rosenbauer Group

DisruptionsNo permanent disruptions so far.

RisksCustomer acceptances■ Single delays ■ Currently no official shut-downs of service locations or production sitesSupply chain■ Suppliers of chassis have restarted their production, single delays in

the US Staff■ Initial concerns and uncertainty vanishing, sick leave on low levelsRegulation■ Procedural specifications (travel ban, minimum distances, protective

mask obligation, no business trips etc.)

Normal operationLiquidityITEnergy supply, waste


Different situations in different areas

CEEUIntensive market activities and order intake as per or even exceeding 2020 budget.

NISACOVID-19 impact obvious in South America and Africa. Western European countries on budgeted level or even beyond.

APACChina as major market is starving. Fire truck business recovering very slowly . Other markets are performing well but cannot compensate for China.

NOMAThe municipal market is down by approx. 25%. Governmental orders and new dealers in states where RBA has not been strongly represented can compensate.Perspectives in spite of COVID-19 situation promising.

MENAOil producing countries affected differently.Countries with strong down stream technology do still have very sufficient budgets, others are suffering. In average as per budget, supported by strong local presence in the region.

Order intake (1/2)


Midterm perspective

■ Order intake forecast for 2021 (to be delivered in 2022) is very much depending on the budget processes in each particular country. Budget cuts and initiatives for investment into fire fighting technology are equally present in national discussions.

■ Not possible to predict at the moment, but need to be monitored closely.

■ Crisis could affect fire truck industry in 2022 and 2023 more than in 2021. Global activities of Rosenbauer, not being dependent on single major customers like in previous years, may help in this situation. We expect afurther market consolidation in the upcoming years due to the narrowfocus of some peers.

Order intake (2/2)


Recent market trends

■ Digital Solutions will be of major importance. Rosenbauer Group is all set to further develop its solution provider and systems integrator position.

■ Drones, zero emission vehicles, cancer care (fire fighters are heavily exposed) are main topics.Technology

■ National governments insist on local content to support their own economy. Rosenbauer Group is well prepared by its comprehensive product and component range, which allows SKD and CKD deliveries and assemblies in many areas.Localization


US tour 2019/2020 of the RT

Road shows in the USA■ RT matches perfectly with future market

needs, in both the US standard (NFPA) and the rest of the world (EN standard and others)

■ Incredibly positive market response to RT road shows in 2019 and early 2020

■ First orders and RT production slot reservations from USA and Canada

■ Los Angeles will receive the very first NFPA compliant unit in 2021

■ RT is a perfect example for a system solution rather than being just another fire appliance


Model regions – Cosmopolitan cities withhigh affinity for Revolutionary Technology

Vancouver

Portland

San Francisco

Los Angeles

Toronto

Amsterdam

London

Paris

Madrid

Oslo

Copenhagen

Gothenburg

Berlin

Munich

Linz

Vienna

Dubai

Tokyo

Singapore

Auckland

RT affinity

Model region

Access to the world’s largest fire departments

Establish European firefighting technology in the USA

New technology can be transferred to other types of fire trucks (e.g. ARFF) and is the basement for developing the driveline further

Canberra


Global market potential for the RT model series until 2030

By 2030 the globally installed base with technology similar to the RT may reach 3,200 vehicles.

In Europe, as many as 700 - 800 units could be in use already by 2025.

As first mover RosenbauerGroup clearly aims for a global market share in this product segment similar to the ARFF business.

Vehicles

Year2020 2025 2030

3,200 vehiclesworldwide

700 - 800 vehiclesin Europe


Outlook


Order intake / backlog

Order intake/backlog€ million

Order intake H1 2020by Area (H1 2019)

CEEU36% (36%)

NISA11% (10%)

MENA15% (10%)

NOMA28% (19%)

APAC7% (23%)

SFP3% (2%)

€ 455.3m

376,5458,3

525,4571,1

455,3

812,9 812,0

1.030,5

1.229,4

1.118,2

1-6/2016 1-6/2017 1-6/2018 1-6/2019 1-6/2020

Order intake Order backlog


Outlook

■ The COVID-19 pandemic has a more severe impact on economic activity than anticipated. For this reason the IMF has lowered its outlook even further in June. The contraction of the global economy is now set at -4.9% in 2020.

■ The economic recovery is projected to be more gradual, with a higher-than-usual degree of uncertainty.

■ The world fire service market follows the economic cycle with a delay of several months.

■ Although demand has slowed down in Q2 2020, the sector should be able to assert itself due to full order books.

■ North-American and Central-European markets should continue their stable performance.

■ Rosenbauer management expects revenues 2020 to exceed previous year´s figure slightly, EBIT margin between 4% and 5%

Thank you for your attention!

Q&A

Appendix


Leading system provider for fire protection(Product segments and % of group revenues; as of Dec. 31 2019)

7%

9%

6%

16%

16%

40%

Municipalvehicles

ARFFvehicles

Aerials

Industrialvehicles

Vehicles78%

Fire & SafetyEquipment

Customer Service

Stationary FireProtection

2%4% sonstige Umsätze



Number of employees (reporting date)

In addition, Rosenbauer employs approximately 300 temporary employees.

1.384

1.335

1.366

1.457

1.597

766

781

828

846

880

779

845

867

928

975

332

354

410

452

515

June 30, 2016

June 30, 2017

June 30, 2018

June 30, 2019

June 30, 2020

Austria USA Germany Rest of the world

3,471

3,315

3,261

3,683

3,967


Rosenbauer share

* Rosenbauer Beteiligungsverwaltung GmbH

1-6/2019 1-6/2020

Highest price € 45.6 45.4

Lowest price € 33.1 23.0

Closing price € 42.5 32.7

Market capitalization € million 289.0 222.4

Dividend € 1.25 0.8

Earnings per share € -0.4 -0.5

BVG *51%Free float

44%

InvestorFR5%

Indizes: ATPX, AFA, AIGS, AP8, AXGP, NAP8, NTFA, TAP8, TFA, VOX, WBI

15 €20 €25 €30 €35 €40 €45 €50 €

Jan Feb Mar Apr May Jun

Rosenbauer EURO ATXPrime index.

ATX Prime -29.7%; ROS -18.5%


Executive board

Daniel TomaschkoCTO

Supply Chain ManagementCentral TechnicsCenter of CompetenceOperationsStationary Fire Protection

Sebastian WolfCFO

AuditControllingAccounting/TaxTreasuryLegal & Compliance & InsuranceExport FinanceInvestor Relations/CSRIT

Andreas ZellerCSO

Area CEEUArea NISAArea APACArea NOMAArea MENACustomer Service Sales Administration

Dieter SiegelCEO

Corporate DevelopmentHuman ResourcesStrategyInnovation & Marketing Group CommunicationFire & Safety EquipmentProduct Management


Financial calendar

November 17, 2020 Publication of the Interim Statement Q3/2020

Documents

Rosenbauer Group...Sep 23, 2020 · From 2009 to 2018 the global firefighting vehicle market has constantly outperformed world GDP, which grew at an annual average rate of 3.5% In