© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014
BAUER AG
Group Presentation Full year 2014
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 2
Key Figures FY 2014
FY 2013* in EUR million
FY 2014 in EUR million
∆ FY in %
Total Group revenues, of which - Germany - International - Construction - Equipment - Resources
- Other/Consolidation
1,504.2 410.4
1,093.8 741.7 628.6 188.9
-55.0
1,560.2 440.2
1,120.0 713.0 651.8 252.8
-57.4
3.7 % 7.3 % 2.4 %
-3.9 % 3.7 % 33.9 %
n/a
Sales revenues 1,402.2 1,375.7 -1.9 % Orders received 1,484.5 1,557.7 4.9 % Orders in hand 765.2 762.7 -0.3 % EBITDA 124.0 171.0 37.9 % EBIT 30.1 76.4 n/a EBIT margin in % (of sales revenues) 2.1 5.6 n/a Net income -19.4 15.7 n/a Earnings per share in EUR -0.99 0.85 n/a Equity ratio in % 26.5 26.6 n/a Number of employees (average over the year) 10,264 10,405 1.4 %
*Previous years figures adjusted
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 3
Total Group revenues with EUR 1,560.2 million were 3.7 % above previous year (EUR 1,504.2 million). EBIT with EUR 76.4 million was considerably higher than in the previous year with EUR 30.1 million. Net profit was EUR 15.7 million (previous year: EUR -19.4 million).
Revenues of the Construction segment decreased by 3.9 % to EUR 713.0 million. EBIT with EUR 25.1 million raised against the previous year comparative of EUR 21.2 million. Net profit decreased markedly from EUR 5.5 million to EUR 1.9 million due to economic problems with a dam project in USA.
Sales revenues of the Equipment segment fell by 2.9 % to EUR 545.2 million. EBIT increased by 14.6 % from EUR 32.2 million to EUR 36.9 million. Net profit increased from EUR 5.1 million to EUR 9.5 million.
Revenues of the Resources segment grew significantly by 33.9 % from EUR 188.9 million to EUR 252.8 million. EBIT with EUR 15.9 million was significantly positive after the loss 2013 (EUR -24.0 million). Net profit was EUR 4.3 million (previous year: EUR -31.4 million). The results of the segment were significantly influenced by a one-time income. The increase in revenues includes a profit of EUR 36.5 million from the sale of 21 % of the shares in the subsidiary in Oman.
Order backlog with EUR 762.7 million (previous year: EUR 765.2 million) is on a reasonable level.
Forecast for 2015: total Group revenues of around EUR 1.6 billion, an EBIT of around EUR 75 million and a profit after tax of around EUR 18 to 23 million.
Main topics
Key Figures FY 2014
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 4
Contents
Financials 4
Overview BAUER Group 1
Market environment 3
p. 5
p. 12
p. 14
5 Guidance 2015
6 Appendix
p. 23
p. 24
Challenges & Chances 2 p. 9
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 5
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.
Railway project – Schwarzkopf Tunnel, Germany
1 BAUER Group Mission & Strategy
EUR 1.56 billion total Group revenues EUR 76.4 million EBIT 5.6 % EBIT margin 26.6 % equity ratio 10,405 employees FY 2014
Key targets
Revenue growth: 3 - 8 % per year
EBIT margin: 7 - 9 %
Equity ratio: > 30 %
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 6
1 BAUER Group The three segments
Construction Equipment Resources
Market leader in specialist foundation equipment
New products for mining, deep drilling and offshore drilling
80 % of sales abroad
Full year 2014:
39 % of total Group revenues
EBIT margin: 6.8 %
Key targets:
~ 40 % of total Group revenues
EBIT margin: 10 - 12 %
Global provider for specialist foundation engineering services
Focus on complex, international projects
~ 50/50 infrastructure / industrial
Full year 2014:
45 % of total Group revenues
EBIT margin: 4.0 %
Key targets:
~ 40 % of total Group revenues
EBIT margin: 4 - 6 %
Products & services related to water, environment and natural resources.
Service provider for the oil, gas and mining industry
Full year 2014:
16 %* of total Group revenues
EBIT margin: 8.1 %*
Key targets:
~ 20 % of total Group revenues
EBIT margin: 6 - 8 %
* Figures include a one-time income in Resources
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014
in EUR million (segment after deducting Other/Consolidation)
7
1
Note: from 2003 based on IFRS figures
Resources 249
Equipment 612
Construction Overseas 510
Total 1,560
Construction Domestic 189
Total Group Revenues Longstanding healthy business development
German reunification
Far East crisis
Financial crisis
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 8
Worldwide network More than 110 subsidiaries in about 70 countries
1
BAUER Manufacturing Inc. Conroe, Texas, USA
GWE Group, plant Luckau, Germany
BAUER Maschinen Kurgan, Kurgan, Russia
BAUER Equipment Malaysia Shah Alam, Malaysia
BAUER Tianjin Technologies, Tianjin, China
BAUER Maschinen Group, plant Aresing near Schrobenhausen, Germany
Permanent Offices: Construction Equipment sales Resources Equipment production locations
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 9
BAUER Group Challenges of the world provide chances for the company
2
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 AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 10
BAUER Group Solutions for the biggest challenges and megatrends
2
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.
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 11
2 BAUER Group Chances
Construction Equipment Resources
Growth potential in new markets and with specialized machines.
Manufacture of customized deep drilling solutions, which set new standards of safety, efficiency, productivity and service.
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 the resources water, oil, gas and geothermal energy.
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014
3
12
World construction markets Bauer market potential
USA / Canada: public demand, power plants, dams, etc.
+
Other Americas: several chances in Central America.
Africa: slight construction activities, regional growth (Angola, Algeria); demand for water and resources
+ o Far East: positive development in all areas, especially Hongkong, Malaysia, Indonesia
++
Western Europe: weak markets
- Germany: quite good. + Eastern Europe:
slowly positive development
- Russia: Crisis regarding Ukraine; difficult to predict.
o
Middle East: stable, especially Abu Dhabi, Saudi Arabia; Qatar many projects
+ Central Asia: good market potentials +
-- weak - slightly weak o stable + growing ++ strong growth
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014
3
13
Global economic situation IMF projection of the real annual GDP growth in %
Source: International Monetary Fund, World Economic Outlook Database, October 2014 * CIS = Commonwealth of Independent States (incl. Georgia)
2014 2015
2014 2015
2014 2015
2014 2015
2014 2015
2014 2015
2014 2015
2014 2015
2014 2015
2014 2015 2014 2015 2014 2015
7.4 7.1
2014 2015
2014 2015
China
6.5 6.6
2014 2015
2.8 2.9
1.8 2.3 1.4 1.8
1.4 1.5
0.8 1.6
0.2 0.5
3.3 3,8
1.3 2.2
0.3 1.4
1.8 2.3
5.1 5.8
2.7 3.9
4.4 5.0
United States
Latin America
European Union
Brazil
CIS*
Developing Asia
Germany
Middle East & North Africa
Sub-Saharan Africa
World Advanced Economies
Emerging Markets & Develop. Economies
Russia
Australia
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 14
4
1,600
1,200
800
400
0
800
600
400
200
0
2013* 2014 2012 2011
364
332
438
373
1,507
Q1
Q2
Q3
Q4
342
-2.4 %
389
358
2013* 2014 2012 2011
1,372 1,220
1,436 1,344
2013 2014 2012 2011
750.0 785.0
82.3
34.1
72.0
25.8
382
1,471
1,504 1,402 765.2
30.1
-19.4 349
456
351
329
1,485 +1.0 %
Financials Revenues, earnings & orders – Group
Revenues
Earnings
Orders in hand
Orders received
in EUR million
in EUR million in EUR million
in EUR million Total Group revenues Sales revenues
EBIT Net profit
1,376
1,560 762.7
334
424
421
379
1,558 +4.9 % 100
75
50
25
0
-25
76.4
15.7
* Previous years figures adjusted 2013* 2014 2012 2011
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 15
Total Group revenues
EBIT
Financials Revenues, earnings & orders – Segments
4
Orders received
Orders in hand
in EUR million
in EUR million in EUR million
in EUR million
742 713 -3.9 %
+3.7 % 629 652
189 253 +33.9 % 1,504 1,560
Construction Resources Equipment
Q4 2013* FY 2014* FY 2013* Q4 2014*
199 180
173 144
42 92
-9.7 %
-16.6 %
n/a
Construction Resources Equipment
400 397
Q4 2013* FY 2014* FY 2013* Q4 2014*
727 665 -8.5 %
+9.8 % 632 694
180 256 +42.2 % 1,484 1,558
Construction Resources Equipment
329 379
165 200
160 127
73
-17.6 %
+25.8 %
n/a
FY 2014* FY 2013*
499 451 -9.6 %
+36.2 % 116 159
150 153 +2.0 %
765 763
Construction Resources Equipment
Order book (in months)
Group
Construction
Equipment
Resources
5.9
7.6
2.9
7.3 EBIT 21.2 25.1 3.2 4.8
EBIT margin (in %) 3.2 4.0 1.8 3.3
Q4 2013* FY 2014* FY 2013* Q4 2014*
EBIT 32.2 36.9 18.9 11.0
EBIT margin (in %) 5.7 6,8 9.2 6.3
EBIT -24.0 15.9 -4.3 21.6
EBIT margin (in %) -13.1 8.1 n/a n/a
The totals include Other/Consolidation
15
* Previous years figures adjusted; 2014 Resources figures include a one-time income
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 16
4 Financials Regional breakdown – Total Group revenues 2014
in EUR million Total 1,560
in EUR million
Africa 58 (4 %) Americas 186 (13 %)
Asia-Pacific, Far East & Australia 364 (24 %)
Middle East & Central Asia 163 (11 %)
Germany 410 (27 %)
EU excl. Germany 168 (11 %)
Europe (other) 155 (10 %)
Total 1,504
Full year 2013 (adjusted)
Africa 62 (4 %)
Americas 172 (11 %)
Asia-Pacific, Far East & Australia 377 (24 %)
Middle East & Central Asia 232 (15 %)
Germany 440 (28 %)
EU excl. Germany 152 (10 %)
Europe (other) 125 (8 %)
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 17
4 Financials Regional breakdown – Segments (FY 2014)
in EUR million Total 699 Total 612 Total 249
Construction segment Equipment segment Resources segment
Africa 49 (7 %)
Americas 68 (10 %)
Asia-Pacific, Far East & Australia 199 (29 %)
Middle East & Central Asia 94 (13 %)
Germany 189 (27 %)
EU excl. Germany 36 (5 %)
Europe (other) 64 (9 %)
Africa 9 (1 %)
Americas 96 (16 %)
Asia-Pacific, Far East & Australia 177 (29 %)
Middle East & Central Asia 60 (10 %)
Germany 118 (19 %)
EU excl. Germany 96 (16 %)
Europe (other) 56 (9 %)
Africa 4 (2 %) Americas 8 (3 %)
Asia-Pacific, Far East & Australia 1 (0 %)
Middle East & Central Asia 78 (31 %)
Germany 133 (54 %)
EU excl. Germany 20 (8 %)
Europe (other) 5 (2 %)
Figures after deducting Other/Consolidation
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 18
Financials Working capital needs & net debt
4
Net financial debt & pensions
Net
fina
ncia
l de
bt
Pens
ions
Net working capital
800
600
400
200
0
in EUR million
in EUR million
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.
626 580 605
2011 2012 2013 2014
604
2011 2012 2013 2014
645
52
611
82
672
84
646
119
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 19
Building construction positive cash contribution
Specialist foundation engineering pre-financing need
Financials Working capital needs & cash flow
4
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.
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 20
Financials Income statement FY 2014
4
*Previous years figures adjusted
in EUR '000 FY 2013* FY 2014 ∆ FY in %
Consolidated revenues (P&L) 1.447.525 1.506.019 4,0%
Sales revenues (P&L) 1.402.173 1.375.679 -1,9%
Material costs -755.906 -749.247 -0,9%
Personnel costs -342.815 -355.250 3,6%
Depreciation and amortization of fixed assets -79.696 -78.781 -1,2%
Write-downs of inventories due to use -14.196 -15.789 11,2%
Other operation expenses -224.827 -230.526 2,5%
EBIT 30.085 76.426 n/a
Financial income 7.729 7.096 -8,2%
Financial expenses -45.541 -45.149 -0,9%
Result from associated entities 1.770 -572 n/a
Profit before tax (EBT) -5.957 37.801 n/a
Income tax -13.474 -22.075 63,8%
Net income -19.431 15.726 n/a
of which attributable to shareholders of BAUER AG -16.927 14.481 n/a
of which attributable to non-controlling interest -2.504 1.245 n/a
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 21
Financials Balance sheet December 31, 2014
4
(a) Other provisions also include short term portion of pension provisions *Previous years figures adjusted
in EUR '000 Dec 31, 2013* Dec 31, 2014 ∆ in %
Assets 1.585.788 1.575.083 -0,7%
Intangible assets 35.388 34.440 -2,7%
Property, plant and equipment 459.537 446.909 -2,7%
Long term financial assets 22.282 74.939 n/a
Other long term assets & deferred taxes 33.863 38.465 13,6%
Receivables from concession arrangements 36.762 0 n/a
Inventories 419.352 439.184 4,7%
Receivables and other assets 517.950 496.650 -4,1%
Effective income tax refund claims 3.437 2.661 -22,6%
Cash and cash equivalents 57.217 41.835 -26,9%
Equity and liabilities 1.585.788 1.575.083 -0,7%
Equity 419.815 418.925 -0,2%
Pension provisions 81.637 116.358 42,5%
Non-current liabilities 300.874 406.898 35,2%
Current liabilities 757.079 605.559 -20,0%
Other provisions (a) / tax 26.383 27.343 3,6%
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 22
Financials Cash flow statement FY 2014
4
in EUR '000 FY 2013* FY 2014 ∆ FY in %
Cash flow from operating activities 38.416 115.398 n/a
Cash flow from investing activities -67.153 -47.452 -29,3%
Cash flow from financing activities 43.576 -86.891 n/a
Free Cash Flow -28.737 67.946 n/a
Changes in liquid funds affecting payments 14.839 -18.945 n/a
Influence of exchange rate movements on cash -2.854 3.563 n/a
Total change in liquid funds 11.985 -15.382 n/a
Cash at beginning of reporting period 45.232 57.217 26,5%
Cash at end of reporting period 57.217 41.835 -26,9%*Previous years figures adjusted
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 23
Guidance 2015 Top-line growth with a slight increase in profitability
5
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
Net profit at lower end of 15-20 EUR million 15.7 EUR million ~ 18-23 EUR million
Bagatelle dam – Mauritius Water treatment plant – Leuna, Germany
* Guidance published November 14, 2014
In-house exhibition 2014 – Schrobenhausen
BAUER Group
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 24
Appendix
Equipment programme D
Resources projects E
The BAUER Group A
F Market environment Germany
G BAUER share
Construction projects C
p. 25
p. 30
p. 34
p. 39
p. 43
p. 44
H Key Figures Time Line p. 46
What is specialist foundation? B p. 28
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 25
1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2014
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 2014: Total Group
revenues EUR 1.560
billion, 10,405
employees
4. Jul 2006: IPO
Sept 2006: Admittance in
SDAX
A
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 2000-2014
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 26
A BAUER Group The three segments
26 © 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, mining, deep drilling, well construction, materials
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 27
A BAUER Group Headquarters and plant Schrobenhausen, Germany
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 28
What is specialist foundation? Building an excavation pit
B
Ground Water
Injection Anchor
Sealing Slab
Supporting Wall
Underpinning Injection
Pile Foundation
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 29
What is specialist foundation used for? Applications for projects
B
Foundations Cut-off walls Excavation pits
Buildings Infrastructure Water – Energy Industry
Ground improvement
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 30
Construction Mauritius – Diaphragm wall for Bagatelle dam
C
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 31
Construction Bhutan – Diaphragm wall for hydroelectric power plant
C
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 32
C Construction Aswan, Egypt – Offshore pile foundation for Nile bridge
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 33
Construction Germany – Foundation works for Schwarzkopf Tunnel bypass
C
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 34
Equipment Product range: Drilling rigs (BG series) – ValueLine
D
ValueLine The BG ValueLine is a fully dedicated Kelly drilling rig.
BG 30 BG 38 BG 20
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 35
Equipment Product range: Drilling rigs (BG series) – PremiumLine
D
BG 42 BG 50 BG 20
PremiumLine Multi-purpose drilling rigs for various applications of foundation works.
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 36
D Equipment Product range: Duty-cycle cranes (MC series)
MC 128 MC 96 MC 64
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 37
D Equipment Product range: Deep Drilling (PR series)
PR 200 PR 440 M2 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, Bauer
develops and manufactures
customized drilling solutions which
set new standards of safety,
efficiency, productivity and ease
of service in the deep drilling
business.
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 38
D Equipment Product range: Underwater Drilling
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 39
Resources Segment The three competence areas
E
Environment Exploration & Mining Services
Materials
Full-line provider for materials in the field of well construction
geothermal energy
distribution of gas/water/
geothermal energy
Production drilling (for example: water wells)
Exploration drilling Preparative work for the mining
of resources Complete solutions in the field
of geothermal energy Special solutions for mining
resources
Disposal of polluted areas Cleaning of process water
and effluents Processing of drinking water Cleaning of extracted air High purity systems Brewing technology High purity water systems
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 40
Resources Materials
E
Amman, Jordan – Drilling works and installation of production wells
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 41
Resources Exploration and Mining Services
E
Oil drilling rig of Site Goup Tulves, South Tyrol
Canada – Diavik Mine
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 42
Resources Environment
E
Oman – Reed Bed Water Treatment Plant
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 43
West-Germany
Employees in 1000 574.6 182.8 -38.2 2.2 0.3 -62.1 -0.5 -0.3
Revenues in EUR billion 78.3 21.2 -1.3 4.4 4.2 -43.6 -1.4 4.1Building construction 51.8 12.3 -4.1 4.8 4.1 -50.6 -0.9 6.0Foundation engineering 26.5 8.9 4.8 3.4 4.2 -30.0 -2.0 1.5
Orders received *in EUR billion
Housebuilding 9.4 2.1 -26.6 5.2 3.3 -72.1 11.1 9.0Industrial building 19.3 5.0 -3.9 4.8 -0.5 -57.7 -6.1 1.0Public sectorof which
public buildings 2.7 0.9 -33.4 4.9 -3.6 -56.4 -5.4 -3.3road building 7.6 2.2 22.6 5.9 -0.3 -16.0 6.7 -8.0underground structures 5.4 1.5 -31.8 3.3 -6.4 -51.5 -1.5 -0.8
*) only companies > 20 employees
Absolute Figures2014
-3.1 -41.115.7 4.7 1.5 -4.8-13.7 4.8
-0.4
2014/2013
-0.1-13.1
1995
-0.6
2012
4.8 -56.944.4 11.8
2014/2013December 2014 2013/ Jan-Dec
1995 2012East-
Germany2014/ Jan-Dec
Change in %West Germany East Germany
2013/2014/
Market environment – Germany German construction market F
Source: Federal Statistical Office, Statistical Office Bavaria
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 44
BAUER share Facts & Figures
G
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
Listed in SDAX (MDAX from 22.09.2008 to 19.09.2010)
Shareholder structure
Share performance (01/2014 – 03/2015)
SDAX DAX
Trading volume
BAUER AG
in EUR 2011 2012 2013 2014 2015
Earnings per share 1.86 1.44 -0.99 0.85 ---
Share price year end 21.10 19.32 18.81 13.35 ---
Share price highest 38.49 26.50 23.05 20.04 18.00
Share price lowest 16.04 16.13 17.33 11.75 13.85
Market Cap (in EUR million)
361.5 331.0 322.2 228.7 ~300
48.19 %
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 45
BAUER share Dividend policy
G
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
* Proposed; subject to the consent of the Annual General Meeting to be held on June 25, 2015
in EUR per share
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 46
H Key Figures Time Line FY 2011 – FY 2014
* Figures 2013 adjusted
Total Group Revenues(in EUR million)BAUER Group 1.527,2 1.275,8 1.304,0 1.371,8 340,0 361,6 361,7 372,5 1.435,8 330,7 390,7 382,6 400,2 1.504,2 378,1 371,1 413,9 397,1 1.560,2
Construction 700,9 570,0 615,4 606,6 156,9 163,4 163,7 171,2 655,2 153,5 192,7 183,0 212,5 741,7 176,5 174,9 181,8 179,8 713,0Equipment 780,1 608,5 581,7 636,5 140,7 150,5 153,0 144,9 589,1 152,4 157,3 163,9 155,0 628,6 165,8 155,6 186,1 144,3 651,8Resources 135,1 174,3 177,7 211,5 58,1 65,5 67,7 71,5 262,8 39,1 54,7 53,2 41,9 188,9 48,4 52,5 59,6 92,3 252,8
Sales Revenues(in EUR million)BAUER Group 1.290,8 1.096,5 1.131,7 1.219,6 286,2 319,2 328,5 410,5 1.344,4 262,6 344,7 361,2 433,7 1.402,2 313,4 332,2 368,1 362,0 1.375,7
Construction 584,3 487,9 505,8 506,2 138,8 144,4 148,3 147,6 579,1 124,4 167,8 182,4 182,9 657,5 165,9 162,7 163,5 142,0 634,1Equipment 601,2 456,5 469,3 511,4 93,6 108,4 124,1 194,5 520,6 104,1 125,5 127,5 204,5 561,6 104,8 118,7 147,4 174,3 545,2Resources 105,1 152,0 156,4 201,5 53,6 66,3 56,0 68,4 244,3 34,0 51,4 51,4 45,8 182,6 42,5 50,7 57,2 45,5 195,9
EBIT(in EUR million)BAUER Group 167,5 84,4 88,4 82,3 6,4 13,0 26,3 26,3 72,0 2,3 5,1 5,3 17,4 30,1 4,9 8,7 24,7 38,1 76,4
Construction 46,3 25,7 28,8 17,9 2,3 4,2 9,7 5,8 22,0 0,3 2,6 15,5 2,8 21,2 1,4 6,0 12,9 4,8 25,1Equipment 118,3 51,3 48,3 53,0 5,0 6,8 8,6 13,6 34,0 3,8 2,0 7,5 18,9 32,2 5,6 7,6 12,7 11,0 36,9Resources 4,0 6,0 8,1 10,9 -0,6 1,6 7,7 6,5 15,2 -2,4 -0,1 -17,6 -3,9 -24,0 -2,1 -1,2 -2,4 21,6 15,9
EBIT margin(in %)BAUER Group 13,0% 7,7% 7,8% 6,7% 2,3% 4,1% 8,0% 6,4% 5,4% 0,9% 1,5% 1,5% 4,0% 2,1% 1,6% 2,6% 6,7% 10,5% 5,6%
Construction 7,9% 5,3% 5,7% 3,5% 1,7% 2,9% 6,5% 3,9% 3,8% 0,2% 1,5% 8,5% 1,5% 3,2% 0,8% 3,7% 7,9% 3,4% 4,0%Equipment 19,7% 11,2% 10,3% 10,4% 5,3% 6,3% 6,9% 7,0% 6,5% 3,7% 1,6% 5,9% 9,2% 5,7% 5,3% 6,4% 8,6% 6,3% 6,8%Resources 3,8% 3,9% 5,2% 5,4% -1,1% 2,4% 13,8% 9,5% 6,2% -7,1% -0,2% -34,2% -8,5% -13,1% -4,9% -2,4% -4,2% 47,5% 8,1%
Q4 14
2014
2014
2014
2014Q4 13 2013
Q1 14
Q1 14
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Q3 14
Q3 13 Q4 13 2013 Q4 14
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Q4 13 2013
Q3 13 Q4 13 2013 Q4 14
Q3 13 Q3 14
Q3 14
Q4 14
Q2 13
Q2 13
Q2 13Q3 12
Q4 12
2012
2012
2012 Q3 13Q1 12
2011
2011
Q2 13Q1 12
Q1 12
Q1 12
2011
2010
2009
20092008
2008
2009
2008
2008
2009
2010
2010
2010
2011
Q2 12 Q3 12
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Q2 12
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Q4 12
Q3 12 Q4 12
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Q1 13
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Q1 13
2012
© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 47
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
BAUER Aktiengesellschaft Financial calendar 2015
Publication Annual Report 2014 April 10, 2015 Annual Press Conference April 10, 2015 Analyst Conference April 10, 2015 Annual General Meeting June 25, 2015 Interim Report to March 31, 2015 May 13, 2015 Half-Year Interim Report to June 30, 2015 August 14, 2015 Interim Report to September 30, 2015 November 13, 2015
Listing SDAX, CDAX, GEX, Classic All Share Prime All Share DAXplus Family
Get the BAUER App for Apple and Android
ISIN DE0005168108 Reuters B5AG.DE Bloomberg B5A GR
www.youtube.com/Bauergruppe
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© BAUER AG, D-86529 Schrobenhausen 15-04-10 IR-Presentation_FY_2014 48
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.