ir presentation q1/2014 - bauer...2013/05/16 · 16-05-13 ir-presentation_q1_2016 © bauer ag,...

© BAUER AG, D-86529 Schrobenhausen 16-05-13 IR-Presentation_Q1_2016

BAUER AG

Group Presentation

First Quarter 2016

© BAUER AG, D-86529 Schrobenhausen 16-05-13 IR-Presentation_Q1_2016 2

Key Figures Q1 2016

Q1 2015

in EUR million

Q1 2016

in EUR million

∆ Q1

in %

Total Group revenues, of which

- Germany

- International

- Construction

- Equipment

- Resources

- Other/Consolidation

409.1

124.1

285.0

193.5

173.8

54.3

-12.5

383.2

137.2

246.0

159.9

165.0

71.5

-13.2

-6.3 %

+10.6 %

-13.7 %

-17.4 %

-5.1 %

+31.9 %

n/a

Sales revenues 299.6 317.6 +6.0 %

Order intake 494.6 388.6 -21.4 %

Order backlog 848.2 1,001.0 +18.0 %

EBITDA 24.2 27.4 +13.0 %

EBIT 1.2 4.8 n/a

EBIT margin in % (of sales revenues) 0.4 1.5 n/a

Earnings after tax -8.6 -9.6 n/a

Earnings per share in EUR -0.52 -0.59 n/a

Equity ratio in % 24.0 24.7 n/a

Number of employees (average over the year) 10,593 10,634 +0.4 %


Total Group revenues decreased by 6.3 % from EUR 409.1 million to EUR 383.2 million. This drop is the result of a

decrease in the changes in inventories and other income. Sales revenues, on the other hand, increased by 6.0 % to EUR

317.6 million. EBIT increased from EUR 1.2 million to EUR 4.8 million. Earnings after tax amounted to EUR -9.6 million

(previous year: EUR -8.6 million) and was primarily impacted by increased tax effects.

Total Group revenues for the Construction segment were 17.4 % lower at EUR 159.9 million. The start-up phases of

some major projects were delayed and the previous year's figures have not been reached as a result. EBIT therefore

decreased from EUR 4.9 million to EUR 1.0 million. We expect to catch up during the course of the year due to progress

made on the projects and the size of the projects to be processed.

Sales revenues of the Equipment segment grew by 7.3 %, from EUR 100.5 million to EUR 107.8 million. EBIT increased

from EUR -0.9 million to EUR 5.9 million year-on-year. Some large and special machines were delivered at the beginning

of the year resulting in these increased earnings.

Total Group Revenues of the Resources segment amounted to EUR 71.5 million, 31.9 % up year-on-year (EUR 54.3

million). EBIT came to EUR -1.6 million (previous year: EUR -2.9 million). The segment's performance at the beginning of

the year was considerably better than last year, mainly due to major projects in the environmental business. The

situation remains difficult on account of the poor exploration and water drilling business.

Order backlog of the Group increased by 18.0 % year-on-year from EUR 848.2 million to EUR 1,001.0 million. This growth

is mainly due to the Construction and Resources segments.

Forecast for 2016 unchanged: total Group revenues of around EUR 1.65 billion, EBIT of around EUR 75 million and

earnings after tax of around EUR 20 to 25 million.

Main topics

Key Figures Q1 2016


Table of Content

BAUER Group – Strategy, Chances & Markets

Appendix

Financials Q1 2016 & 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.

Bagatelle Dam project – Mauritius

BAUER Group Mission & Strategy

EUR 1.66 billion total Group revenues

EUR 90.7 million EBIT

6.6 % EBIT margin

27.2 % equity ratio

10,738 employees FY 2015

Key targets

Revenue growth: 3 - 8 % per year

EBIT margin: 7 - 9 %

Equity ratio: > 30 %


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 2015:

43 % of total Group revenues *

EBIT margin: 18.1 % *

Key targets:

~ 40 % of total Group revenues


Global provider for specialist

foundation engineering services

Focus on complex, international

projects

~ 50/50 infrastructure / industrial

Full year 2015:


EBIT margin: 2.1 % *

Key targets:



Products & services related to

water, environment and natural

resources.

Service provider for the oil, gas

and mining industry

Full year 2015:


EBIT margin: n/a *

Key targets:



* Figures include positive and negative exceptional earnings in all segments


Note: from 2003 based on IFRS figures

Total Group Revenues Longstanding healthy business development

in EUR million (segment after deducting Other/Consolidation)

Equipment

705

Construction

Overseas

551

Total 1,656

Construction

Domestic

182

Resources

218 1,600

1,000

1,400

800

600

200

0

1980 1983 1985 1987 1997 1999 2001 2003 2005 2007 1991 1989 1993 1995 2009 2011 2013 2015

1,200

400

1,800


Permanent Offices:

Construction

Equipment sales

Resources

Equipment production

Schrobenhausen 2.027

Kuala Lumpur 129 Conroe 156 Tianjin 215

Worldwide network More than 110 subsidiaries in about 70 countries


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.


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.


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 (Ethiopia,

Algeria); demand for

water and resources

+ o

Far East:

positive development

in all areas, especially

Hongkong, Malaysia,

Indonesia

+

Western Europe:

weak markets o

Germany:

quite good. + Eastern Europe:

slowly positive

development

Russia:

Crisis regarding Ukraine;

difficult to predict.

Middle East:

stable, especially Qatar

Abu Dhabi, Saudi Arabia;

increasing risk regarding

oil price

Central Asia:

good market potentials +

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

o -

o

Last update: April 2016

© BAUER AG, D-86529 Schrobenhausen 16-05-13 IR-Presentation_Q1_2016

China

Source: International Monetary Fund, World Economic Outlook Database, April 2016 * CIS = Commonwealth of Independent States (incl. Georgia; excl. Russia)

United States

European Union

Brazil

CIS*

Germany

Middle East &

North Africa

Sub-Saharan Africa

World Advanced

Economies

Emerging Markets &

Develop. Economies

Russia

Australia

2016 2017

2016 2017

2016 2017

2016 2017 2016 2017 2016 2017

2016 2017

2016 2017

2016 2017

2016 2017

2016 2017

2016 2017

1.9 2.0 3.2

3.5 2016 2017 4.1

4.6

2.4 2.5

-0.5 1.5

-3.8 -0.1

1.8 1.9

3.0 4.0

2016 2017

3.1 3.5

-1.1 1.3 2016 2017

6.4 6.3

6.5 6.2

2.5 3.0

Developing Asia

Latin America

1.5 1.6 -1.8 0.8

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

13


Table of Content


Appendix



1,800

1,350

900

450

0

2015 2016 2014 2013

Q1

Q2

Q3

Q4

349

456

351

329

1,485

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

334

424

421

342

1,521 +2.5 % 100

75

50

25

0

-25

1,000

750

500

250

0

494

+19.1 %

405

550

1,811

362

2015 3M 2015 2014 2013 3M 2016

409 300

383 318

1,504 1,402

1,560

1,376

1,656

1,379

2015 3M 2015 2014 2013 3M 2016

765.2

995.6

848.2 762.7

1,001.0

389

-21.4 %

30.1

76.4

-19.4

15.7

1.2 -8.6

2015 3M 2015 2014 2013 3M 2016

90.7

29.0

4.8 -9.6


Revenues

Earnings

Financials Revenues, earnings & orders – Segments

Order intake

Order backlog

in EUR million

in EUR million in EUR million

in EUR million Construction Resources Equipment Construction Resources Equipment

FY 2015 FY 2014

682 878 +28.7 %

-4.1 %

677

649

219

345 +57.3 % 1,521

1,811

Construction Resources Equipment

Q1 2016 Q1 2015

513 585

+13.9 %

-20.0 % 162

129

173 287

+65.7 % 848

1,001

Construction Resources Equipment

Order book (in months)

Group

Construction

Equipment

Resources

7.6

9.4

2.3

15.5

The totals include Other/Consolidation

Q1 2015 Q1 2016

495

389

153

256

166

177 82

-40.0 %

-6.0 %

+10.4 % 74

726 743 +2.4 %

+17.8 %

639 753

253 222

-12.3 % 1,560 1,656

FY 2015* FY 2014* Q1 2015 Q1 2016

193 160

174 165

54 72

-17.4 %

-5.1 %

+31.9 %

409 383

EBIT 4.9 1.0 26.0 13.9

EBIT margin (in %) 3.1 0.7 4.0 2.1

EBIT -0.9 5.9 36.0 99.4

EBIT margin (in %) n/a 5.5 6.7 18,1

EBIT -2.9 -1.6 15.9 -19.8

EBIT margin (in %) n/a n/a 8.1 n/a

FY 2014* Q1 2016 Q1 2015 FY 2015*

* Figures include positive and negative exceptional earnings in all segments


Financials Regional breakdown – Total Group revenues FY 2015

in EUR million

Total 1,656

in EUR million

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 %)

Total 1,560

Full year 2014

Africa 77 (4 %)

Americas 297 (18 %)

Asia-Pacific,


348 (21 %)

Middle East


Germany 474 (29 %)

EU excl. Germany 162 (10 %)

Europe (other)

71 (4 %)


Figures after deducting Other/Consolidation

Financials Regional breakdown – Segments FY 2015

in EUR million

Total 733 Total 705 Total 218

Construction segment Equipment segment Resources segment

Africa 47 (6 %)

Americas 113 (16 %)

Asia-Pacific,


191 (26 %)

Middle East


Germany 182 (25 %)

EU excl.

Germany

43 (6 %)

Europe (other)

30 (4 %)

Africa 20 (3 %)

Americas 172 (24 %)

Asia-Pacific,


154 (22 %)

Middle East


Germany 164 (23 %)

EU excl.

Germany

96 (14 %)

Europe (other)

39 (6 %)

Africa 11 (5 %)

Americas 12 (5 %)

Asia-Pacific,

Far East & Australia 2 (1 %)

Middle East

& Central Asia

40 (18 %)

Germany 128 (59 %)

EU excl.

Germany

23 (11 %)

Europe (other)

2 (1 %)


Financials Working capital needs & net debt

Net financial debt & pensions

Net

fin

an

cia

l

de

bt

Pe

ns

ion

s

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.

2013 2014 2015 3M 2015 3M 2016

605 604 629 726 672

2013 2014 2015 3M 2015

84

672 646 665

119

779 743

133

3M 2016

115

130


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

Co

ntr

ac

t va

lue

EUR

Negative cash

contribution

12 24 months

Co

ntr

ac

t va

lue

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 2016

in EUR '000 3M 2015 3M 2016 ∆ in %

Sales revenues (P&L) 299.560 317.641 6,0%

Consolidated revenues (P&L) 391.455 365.514 -6,6%

Cost of materials -195.086 -172.074 -11,8%

Personel expenses -91.326 -90.644 -0,7%

Other operation expenses -80.841 -75.444 -6,7%

EBITDA 24.202 27.352 13,0%

Depreciation of fixed assets -20.466 -18.493 -9,6%

Write-downs of inventories due to use -2.503 -4.013 60,3%

EBIT 1.233 4.846 n/a

Financial income 1.819 667 -63,3%

Financial expenses -10.266 -11.101 8,1%

Share of profit/loss of associated companies (equity method) 308 -201 n/a

Earnings before tax (EBT) -6.906 -5.789 n/a

Income tax expense -1.707 -3.837 n/a

Earnings after tax -8.613 -9.626 n/a

of which attributable to shareholders of BAUER AG -8.836 -10.040 n/a

of which attributable to non-controlling interests 223 414 85,7%


Financials Balance sheet March 31, 2016

in EUR '000 March 31, 2015 March 31, 2016 ∆ in %

Assets 1.738.031 1.700.719 -2,1%

A. Non-current assets 624.351 628.536 0,7%

I. Intangible assets 33.986 26.479 -22,1%

II. Property, plant and equipment and investment property 466.282 411.320 -11,8%

III. Investments accounted for using the equity method 42.736 130.658 n/a

IV. Participations 3.613 3.460 -4,2%

V. Other non-current assets & deferred tax assets 77.734 56.619 -27,2%

B. Current assets 1.113.680 1.072.183 -3,7%

I. Inventories 486.820 472.390 -3,0%

II. Receivables and other assets 582.154 532.794 -8,5%

III. Effective income tax refund claims 3.569 2.837 -20,5%

IV. Cash and cash equivalents 41.137 64.162 56,0%

Equity and liabilities 1.738.031 1.700.719 -2,1%

A. Equity 417.535 420.387 0,7%

B. Non-current debt 549.121 546.101 -0,5%

I. Provisions for pensions 131.106 127.742 -2,6%

II. Non-current liabilities & deferred tax liabilities 418.015 418.359 0,1%

C. Current debt 771.375 734.231 -4,8%

I. Financial liabilities 427.276 418.674 -2,0%

II. Other current liabilities 314.143 281.680 -10,3%

III. Effective income tax obligations 10.213 15.722 53,9%

IV. Provisions 19.743 18.155 -8,0%


Financials Cash flow statement 3M 2016

in EUR '000 3M 2015 3M 2016 ∆ in %

Cash flow from operational activity -79.396 -41.703 -47,5%

Cash flow from investment activity -10.245 -26.176 n/a

Cash flow from financing activity 86.169 87.583 1,6%

Free Cash Flow -89.641 -67.879 -24,3%

Changes in liquid funds affecting payments -3.472 19.704 n/a

Influence of exchange rate movements on cash 2.774 -2.948 n/a

Total change in liquid funds -698 16.756 n/a

Cash and cash equivalents at beginning of reporting period 41.835 47.406 13,3%

Cash and cash equivalents at end of reporting period 41.137 64.162 56,0%


Guidance 2016 Business year without exceptional earnings expected

2015e 2015 final 2016e

Total Group Revenues ~ 1,600 EUR million 1,656 EUR million ~ 1,650 EUR million

EBIT ~ 75 EUR million 90.7 EUR million ~ 75 EUR million

Earnings after tax ~ 18 – 23 EUR million 29.0 EUR million ~ 20 – 25 EUR million

Bagatelle dam – Mauritius Water treatment plant – Leuna, Germany In-house exhibition 2015 – Schrobenhausen

BAUER Group


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 AG

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

Quarterly Statement Q1 2016 May 13, 2016

Half-Year Interim Report to June 30, 2016 August 12, 2016

Quarterly Statement 9M/Q3 2016 November 14, 2016

Listing 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

www.facebook.com/BauerAGgroup


Table of Content


Appendix



1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2015

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 2015:

Total Group

revenues

EUR 1.656

billion,

10,738

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 2000-2015


BAUER Group The three segments

28 © 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 Group Headquarters and plant Schrobenhausen, Germany


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


Construction Dubai, VAE – Vibro-compaction work for “Palm Jumeirah”


Construction Doha, Qatar – Construction pit for the Mozoon Towers


Construction Munich, Germany – Construction pit for wastewater treatment plant


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

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

BG 30 BG 38 BG 20


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 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.


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

Oil & Gas Drilling

Well Drilling

Blast Hole Drilling

Environment Water Natural Resources


Resources Segment The Competence Centers

Environment

Water

Natural

Resources Waste Treatment & Disposal

Remediation

Constructed

Wetlands

Water

Treatment

Process

Technology

Beverage &

Biotec

Water Well

Design &

Construction

Drilling

Techno-

logies


Resources Water – Process Water & Water Distribution Management


Resources Environment – Soil remediation in Germany


Resources Environment – Reed Bed Water Treatment Plant in Oman


Resources Natural Resources – Oil and Exploration Drilling in Jordan


Employees in 1000 763,4

Revenues in EUR billion 101,0

Building construction 65,0

Foundation engineering 36,0

Orders received *

in EUR billion

Housebuilding 13,1

Industrial building 24,6

Public sector

of which

public buildings 4,0

road building 10,1

underground structures 7,5

*) only companies > 20 employees

2,9

7,0

-2,2

-5,2

0,8

1,6

1,4

1,9

-13,6

-17,6

-5,1

-35,8

14,4

-33,1

4,3

-0,2

-3,5

-36,2

-23,0

-17,7

December 20152014/ 2015/

1995 2013

2015/

1,1

2014

0,1

4,1

4,5

Germany

21,5

59,1

-45,9

9,3

-24,7 -0,5 5,2

-3,5

3,5

13,3

5,4

Market environment – Germany German construction market

Source: Federal Statistical Office, Statistical Office Bavaria


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 (01/2015 – 05/2016)

in EUR 2012 2013 2014 2015 2016

Earnings per share 1.44 -0.99 0.85 1.73 ---

Share price year end 19.32 18.81 13.35 17.40 ---

Share price highest 26.50 23.05 20.04 19.20 17.16

Share price lowest 16.13 17.33 11.75 13.85 13.13

Market Cap (in EUR million)

331.0 322.2 228.7 298.1 ~250

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

* Proposed; subject to the consent of the Annual General Meeting to be held on June 23, 2016


Key Figures Time Line FY 2008 – Q1 2016

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

Total Group Revenues

(in EUR million)

BAUER Group 1.527,2 1.275,8 1.304,0 1.371,8 1.435,8 330,7 390,7 382,6 400,2 1.504,2 378,1 371,1 413,9 397,1 1.560,2 409,1 371,3 414,5 461,5 1.656,4 383,2

Construction 700,9 570,0 615,4 606,6 655,2 153,5 192,7 183,0 212,5 741,7 178,5 173,0 181,8 192,3 725,6 193,5 176,4 194,5 178,5 742,9 159,9

Equipment 780,1 608,5 581,7 636,5 589,1 152,4 157,3 163,9 155,0 628,6 163,8 157,6 186,1 131,7 639,2 173,8 159,6 163,2 256,5 753,1 165,0

Resources 135,1 174,3 177,7 211,5 262,8 39,1 54,7 53,2 41,9 188,9 48,4 52,5 59,6 92,3 252,8 54,3 47,8 75,1 44,4 221,6 71,5

Sales Revenues

(in EUR million)

BAUER Group 1.290,8 1.096,5 1.131,7 1.219,6 1.344,4 262,6 344,7 361,2 433,7 1.402,2 313,4 332,2 368,1 362,0 1.375,7 299,6 342,4 376,8 360,2 1.379,0 317,6

Construction 584,3 487,9 505,8 506,2 579,1 124,4 167,8 182,4 182,9 657,5 167,8 160,8 163,5 154,5 646,6 156,0 163,9 179,4 151,5 650,8 143,6

Equipment 601,2 456,5 469,3 511,4 520,6 104,1 125,5 127,5 204,5 561,6 102,9 120,6 147,4 161,8 532,7 100,5 137,4 129,3 180,8 548,0 107,8

Resources 105,1 152,0 156,4 201,5 244,3 34,0 51,4 51,4 45,8 182,6 42,5 50,7 57,2 45,5 195,9 42,9 40,9 67,9 27,6 179,3 65,9

EBIT

(in EUR million)

BAUER Group 167,5 84,4 88,4 82,3 72,0 2,3 5,1 5,3 17,4 30,1 4,9 8,7 24,7 38,1 76,4 1,2 14,8 20,4 54,3 90,7 4,8

Construction 46,3 25,7 28,8 17,9 22,0 0,3 2,6 15,5 2,8 21,2 1,5 6,0 12,9 5,6 26,0 4,9 5,5 2,0 1,5 13,9 1,0

Equipment 118,3 51,3 48,3 53,0 34,0 3,8 2,0 7,5 18,9 32,2 5,6 7,7 12,7 10,0 36,0 -0,9 9,3 16,2 74,8 99,4 5,9

Resources 4,0 6,0 8,1 10,9 15,2 -2,4 -0,1 -17,6 -3,9 -24,0 -2,1 -1,2 -2,4 21,6 15,9 -2,9 -0,3 2,0 -18,6 -19,8 -1,6

EBIT margin

(in %)

BAUER Group 13,0% 7,7% 7,8% 6,7% 5,4% 0,9% 1,5% 1,5% 4,0% 2,1% 1,6% 2,6% 6,7% 10,5% 5,6% 0,4% 4,3% 5,4% 15,1% 6,6% 1,5%

Construction 7,9% 5,3% 5,7% 3,5% 3,8% 0,2% 1,5% 8,5% 1,5% 3,2% 0,9% 3,7% 7,9% 3,6% 4,0% 3,1% 3,4% 1,1% 1,0% 2,1% 0,7%

Equipment 19,7% 11,2% 10,3% 10,4% 6,5% 3,7% 1,6% 5,9% 9,2% 5,7% 5,4% 6,4% 8,6% 6,2% 6,8% -0,9% 6,8% 12,5% 41,4% 18,1% 5,5%

Resources 3,8% 3,9% 5,2% 5,4% 6,2% -7,1% -0,2% -34,2% -8,5% -13,1% -4,9% -2,4% -4,2% 47,5% 8,1% -6,8% -0,7% 2,9% -67,4% -11,0% -2,4%

Q1 16

Q1 16

Q1 16

Q1 16

Q3 15

Q3 15

2012

2012 Q1 14

Q1 13

Q1 13

Q1 13

Q1 13 Q3 13

Q3 14Q2 14

Q4 13 2013

2013

2012

20122010

2011

2010

2011

2011

2010

2009

2008 2009

2008

2008

2008 2009

2009

2011

2010

Q2 13

Q2 13

Q2 13

Q2 13 Q2 14

Q3 13 Q4 13 2013 Q4 14

Q3 14Q4 13 Q4 14

Q3 13 Q3 14

Q3 14Q1 14 Q2 14

Q4 14

Q3 13 Q4 13 2013 Q4 14

Q1 14

Q1 14

Q2 14 2014

2014

2014

2014

Q1 15

Q1 15

Q1 15

Q1 15

Q2 15

Q2 15

Q2 15

Q2 15

Q3 15

Q3 15

Q4 15

Q4 15

Q4 15

Q4 15

2015

2015

2015

2015


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.

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