BAUER Aktiengesellschaft - BAUER Gruppe · and offshore drilling ... 2002 based on HGB figures, from 2003 based on IFRS figures; Resources 172 Equipment 533 Construction Overseas

© BAUER AG, D-86529 Schrobenhausen11-5-13 IR-Presentation_AnalystConference_Q12011

BAUER Aktiengesellschaft

Foundation works in Jakarta, Indonesia

Group Presentation First Quarter 2011

© BAUER AG, D-86529 Schrobenhausen11-5-13 IR-Presentation_AnalystConference_Q12011 2

Total Group revenues (in EUR million)1,208 1,527 1,276 1,304

2007 2008 2009 2010

1,600

1,200

800

400

0

2007 2008 2009 2010

Orders in hand (in EUR million)618.0 671.6 508.9 614.9

800

600

400

200

0

Net profit (in EUR million)74.4 107.5 42.0 39.8

2007 2008 2009 2010

120

90

60

30

0

Key FiguresFY 2010

2007 2008 2009 2010

Employees (in average)6,983 8,674 8,872 9,09410,000

7,500

5,000

2,500

0


Mission & Strategy

Services, equipment & products dealing with ground and groundwater

Our mission

Our strategy

The world is our market.

World market leadership for foundation technology.

Powerful development of drilling applications and related services for resources, water and energy markets.

Optimizing worldwide organizational networks and self controlling structures for the Group.

Growth 5 to 12 % per year.

Tottenham Court Road – London, Great Britain


Key FiguresQ1 2011

Q1 2010in EUR million

Q1 2011in EUR million

∆ Q1 in %

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

- Consolidation / Other

261.066.1

194.9125.1113.235.6

- 12.9

307.570.2

237.3124.4159.8

39.1

- 15.8

17.8 %6.2 %

21.8 %- 0.6 %41.1 %9.9 %

n/a

Sales revenues 216.0 255.4 18.2 %Equity ratio in % 31.6 30.7 n/aOrders received 293.2 363.9 24.1 %Orders in hand 541.1 671.3 24.1 %EBITDA 23.4 25.5 8.8 %EBIT 5.6 6.7 18.2 %EBIT margin in % (of sales revenues) 2.6 2.6 n/aNet income - 4.4 - 2.6 n/aEarnings per share in EUR - 0.31 - 0.19 n/aNumber of employees (average over the year) 8,860 9,653 9.0 %


Contents

Regional breakdown of Revenues3

Overview BAUER Group1

BAUER market environment 2

p. 6

p. 13

p. 15

Financials4

5 Guidance 2011

6 Appendix

p. 17

p. 25

p. 26


Resources

Construction Equipment

1 BAUER GroupThe three segments

Target ~ 40 % of total Group revenues

Market leader in specialist foundation equipment

New products for mining, deep drilling and offshore drilling

85 % of revenues from sales abroad

Multi-branding strategy


Global provider for specialist foundation engineering and services in the field of infrastructure and engineering works

Focus on complex, international projects


Activities in the field of environmental services, mining, geothermal energy, well drilling and well engineering materials


What is specialist foundation?Building an excavation pit

1

Ground Water

Injection Anchor

Sealing Slab

Supporting Wall

UnderpinningInjection

Pile Foundation


What is specialist foundation used for?Applications for projects

1

Foundations Cut-off wallsExcavation pits

Buildings Infrastructure Water – Energy Industry

Ground improvement


Resources SegmentThe three divisions

1

Environmentabout 41 % of revenues*

Exploration & Mining Services

about 23 % of revenues*

Materialsabout 36 % of revenues*

Full-line provider formaterials 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

* based on figures FY 2010


in EUR million (segment after decucting Other/Consolidation)

10

1

Note: 2000 – 2002 based on HGB figures, from 2003 based on IFRS figures

Resources172

Equipment533

ConstructionOverseas424

Total 1.304

ConstructionDomestic175

Total Group RevenuesLongstanding healthy business development

German reunification

Far East crisis

Financial crisis


Worldwide networkMore than 110 subsidiaries in about 70 countries

1

BAUER Manufacturing Inc.Conroe, Texas, USA

GWE Group, Peine, Germany

BAUER Maschinen KSM, Kurgan, Russia

Shanghai BAUER Technologies, Shanghai, China

BAUER Tianjin Technologies, Tianjin, China

BAUER Group, plant Aresing near Schrobenhausen, Germany

Permanent Offices:Construction Equipment salesResourcesEquipment production locations


1 BAUER GroupStrengths & Chances

Strategic business model with three forward-looking segments providing high level of synergies.

Global network organisation with flexible, decentralized management.

World market leader in foundation equipment with innovative strength in enhancing existing products and designing new ones.

Strengths

Chances

Construction segment with considerable number of major infrastructure projects currently tendered for worldwide.

New growth potential in Equipment segment with entirely new techniques such as deep drilling rigs and powerful foundation crane series.

Resources segment with ground-breaking projects, e.g. biological water treatment plant and promising opportunities due to its focus on growth markets water, energy and environment. TBA 300 – Deep drilling rig


+

World construction marketsBauer market potential2

13

-

Western Europe:declining markets, Germany somewhat better +

+++

Far East:positive development in all areas, especially Hongkong, Singapore

+Other Americas:several chances in Central America

o

Africa:slight construction activities, regional growth (Angola, Algeria); demand for water and resources

Summary: Recovering market conditions worldwide at the end of the crisisSpecialist foundation construction grows relative to construction marketEnergy sector becomes main booster, not only with exploration but also withdownstreamed stages: Liquefaction plants (gas), refineries, power plants

Middle East:stable, especiallyAbu Dhabi, Qatar & Egypt,downturn in Dubai

Eastern Europe:slowly positive development, especially Russia

Central Asia:India: dynamic development

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

13

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

-

+


Market environmentOrders & Currency risks

2

Order backlog (Orders in hand) Currency Risks

Expected order intake

2010

Construction Germany –Construction International +Equipment BAUER Maschinen GmbH

Equipment Subsidiaries

Resources ++-- weak - slightly weak adequate + well adequate ++ very well adequate

Q1 2011 Reach in monthsin relation to total Group revenues full year 2010

TOTAL

Construction

Equipment

Resources

EUR 671 million

EUR 343 million

EUR 161 million

EUR 168 million

6.2 months

6.7 months

3.3 months*

11.3 months* incl. running small-type orders

Construction

Project size EUR 100,000 up to EUR 20 million

~ 50 / 50 infrastructure / large industrial buildings

~ 600 projects per year

Local financing (natural hedge) for project duration

Translation risk (consolidation) hedged

US$ business (~ 9 %) hedged, e.g. swaps

Equipment

~ 80 % of invoicing in EUR

US$ business (~ 10 %) hedged with permanent translation of individual machines

Production expansion to US, China and others to counteract currency risk Euro / US$ / RMB and others


3 Regional breakdownTotal Group revenues FY 2010

in EUR million

Total 1.304

in EUR million

Africa 78 (6 %)

America 138 (11 %)

Asia-Pacific,Far East & Australia166 (13 %)

Middle East& Central Asia 213 (17 %)

Germany 361 (28 %)

EU excl. Germany222 (17 %)

Europe (other)98 (8%)

Total 1.276

Full year 2009

Africa 70 (5 %)

Americas 155 (12 %)

Asia-Pacific,Far East & Australia 252 (19 %)

Middle East & Central Asia 204 (16 %)

Germany 339 (26 %)


Europe (other)131 (10 %)


3 Regional breakdown Construction, Equipment, Resources FY 2010

Figures after deducting Other/Consolidation

Construction segment Equipment segment Resources segmentin EUR millionTotal 599 Total 533 Total 172

Africa 51 (9 %)

Americas 66 (11 %)


Middle East &Central Asia 112 (19 %)

Germany 176 (29 %)



Africa 7 (1 %)

Americas 84 (16 %)


Middle East &Central Asia 38 (7 %)

Germany 82 (15 %)



Africa 12 (7 %)

Americas 5 (3 %)


Middle East & Central Asia 54 (31 %)

Germany 81 (47 %)




Revenues (in EUR million)

Earnings (in EUR million)

FinancialsRevenues, earnings & orders

4

1,276

1,096

2010 Q1 2010

1,600

1,200

800

400

0

261

1,132

Total Group revenues Sales revenues

84.4

42.0

2010

180

135

90

45

0

88.4

39.8

EBIT Net profit

Orders in hand (in EUR million)

509

2010

800

600

400

200

0

615

Order intake (in EUR million)

Q1

Q2

Q3

Q4

2009

297

283

293

240

1,113

2009

1,527

1,291

2009

107.5

167.5

2009

672

2008

465

445

342

329

1,581- 29,4 %

2008

2008

2008

2010

303

446

293

368

1,410+26,7 %

Q1 2011

1,304

307216 255

5.6-4.4 6.7 -2.6Q1 2010 Q1 2011

Q1 2010 Q1 2011

541

671

364

2011

+24,1 %


FinancialsWorking capital needs & net debt

4

Net debt (in EUR million)

2008 2009 2010

306

Net

fina

ncia

l de

btPe

nsio

ns

43

446 520

4749

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

Changes during the year:

- Levels in balance sheet and income statement during the year are typically higher than year-end positions.

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.

Net working capital (in EUR million)

2008 2009 2010

363 444 494

600

450

300

150

0

496 538

498 560

4750

Q1 2010 Q1 2011

Q1 2010 Q1 2011


Building constructionPositive cash contribution

Specialist foundation engineeringPre-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

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).

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

Resources segment:

- A mixture of the Construction and Equipment segments.

Special items related to net debt end of 2010:

- Deep drilling rigs not sold before year end:approx. EUR 20 million.

- Regulations under IFRS for inventory financing: approx. EUR 25 million (not acknowledged in balance sheet before).

- BOT project in Oman (water treatment plant):approx. EUR 46 million.


FinancialsRevenues Q1 2011

4

in EUR '000 Q1 2010 Q1 2011 ∆ Q1 in % FY 2010

Total Group revenues 261,007 307,468 17.8% 1,304,017

Sales revenues, Construction 114,002 112,747 -1.1% 505,758

Sales revenues, Equipment 69,855 108,146 54.8% 469,252

Sales revenues, Resources 32,027 34,377 7.3% 156,398

Sales revenues, Other 84 102 21.4% 265

Sales revenues (external) 215,968 255,372 18.2% 1,131,673

Consolidated revenues (P&L) 257,040 301,015 17.1% 1,255,600

Orders in hand 541,127 671,346 24.1% 614,936


FinancialsEarnings Q1 2011

4

n/a not applicable (a) of sales revenues (b) pre-minorities

in EUR '000 Q1 2010 Q1 2011 ∆ Q1 in % FY 2010

EBITDA 23,439 25,493 8.8% 165,517

Margin (a) 10.9% 10.0% n/a 14.6%

EBIT 5,641 6,669 18.2% 88,355

EBIT margin (a) 2.6% 2.6% n/a 7.8%

EBIT Construction segment 2,910 -1,252 n/a 28,798

EBIT margin, Construction segment (a) 2.6% -1.1% n/a 5.7%

EBIT Equipment segment 2,580 9,231 257.8% 48,283

EBIT margin, Equipment segment (a) 3.7% 8.5% n/a 10.3%

EBIT Resources segment 141 -576 n/a 8,075

EBIT margin, Resources segment (a) 0.4% -1.7% n/a 5.2%

Net income(b) -4,445 -2,636 n/a 39,789

Margin (a) -2.1% -1.0% n/a 3.5%

Earnings per share (in EUR) -0.31 -0.19 n/a 2.04


FinancialsIncome statement March 31, 2011

4

in EUR '000 Q1 2010 Q1 2011 ∆ Q1 in % FY 2010

Consolidated revenues (P&L) 257,040 301,015 17.1% 1,255,600

Sales revenues (P&L) 215,968 255,372 18.2% 1,131,673

Material costs -123,882 -150,283 21.3% -626,952

Personnel costs -66,273 -71,067 7.2% -282,506

Depreciation and amortization of fixed assets -15,069 -15,353 1.9% -64,914

Write-downs of inventories due to use -2,729 -3,471 27.2% -12,248

Other operation expenses -43,446 -54,172 24.7% -180,625

EBIT 5,641 6,669 18.2% 88,355

Financial income 273 2,193 703.3% 4,071

Financial expenses -8,533 -9,650 13.1% -36,400Result from associated entities 110 -138 n/a 1,436Profit before tax (EBT) -2,509 -926 n/a 57,462

Income tax -1,936 -1,710 n/a -17,673

Net income -4,445 -2,636 n/a 39,789

whereof attributable to shareholders of Bauer AG -5,298 -3,269 n/a 35,029

whereof minority interest 853 633 -25.8% 4,760


Financials Balance sheet March 31, 2011

4

(a) Other provisions also include short term portion of pension provisions

in EUR '000 March 31, 2010 March 31, 2011 ∆ Q1 in % Dec 31, 2010

Assets 1,288,254 1,404,643 9.0% 1,337,749

Intangible assets 22,058 23,107 4.8% 23,261

Property, plant and equipment 426,711 429,379 0.6% 441,737

Long term financial assets 14,402 14,607 1.4% 14,528

Other long term assets & deferred taxes 30,176 27,677 -8.3% 28,204

Receivables from concession arrangements --- 42,944 n/a 45,874

Inventories 408,712 451,402 10.4% 420,417

Receivables and other assets 331,717 366,121 10.4% 329,109

Effective income tax refund claims 9,736 8,112 -16.7% 7,006

Cash and cash equivalents 44,742 41,294 -7.7% 27,613

Equity and liabilities 1,288,254 1,404,643 9.0% 1,337,749

Equity 406,551 430,680 5.9% 443,866

Pension provisions 45,409 48,013 5.7% 47,380

Non-current liabilities 370,986 394,960 6.5% 400,494

Current liabilities 437,360 496,398 13.5% 411,827

Other provisions (a) / tax 27,948 34,592 23.8% 34,182


FinancialsCash flow statement Q1 2011

4

in EUR '000 Q1 2010 Q1 2011 ∆ Q1 in % FY 2010Operating cash flow -35.614 -28,427 n/a 45,342

Investing cash flow -10,595 -10,505 n/a -75,518

Financing cash flow 53,075 52,242 -1.6% 17,850

Free Cash Flow -46,209 -38,932 n/a -30,176

Net cash increase 7,689 13,681 77.9% -9,440

Cash at start of reporting period 37,053 27,613 -25.5% 37,053

Cash at end of reporting period 44,742 41,294 -7.7% 27,613


Guidance 2011Top-line growth with higher profitability expected

5

2010e 2010 final 2011e

Total Group Revenues ~ 2009 level (1.276 EUR million) 1.304 EUR million ~ 1.400 EUR million

EBIT not guided 88.4 EUR million > 95 EUR million

Net profit 35 – 40 EUR million 39.8 EUR million > 45 EUR million

International airport – Doha, Qatar New power plant – Rotterdam, Netherlands Water treatment plant – Nimr, Oman


Appendix

Equipment programmeC

Resources projectsD

History of BauerA

E Market environment Germany

F BAUER share

Construction projectsB

p. 27

p. 29

p. 34

p. 39

p. 42

p. 43

G Key Figures Time Line p. 45


1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2010

History of BauerTwo centuries of experience

End of 1970’s:Start of

internationalisation

Early 1990’s:Build up of

specialist construction/ environmental business

FY 2010:Total Group

revenues EUR 1.304

billion, 9,094

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 2000-2010


A Bauer’s home baseHeadquarters and plant Schrobenhausen, Germany


ConstructionAbu Dhabi – Pile foundation for Carina Views residences

B


ConstructionSochi, Russia – Infrastructure works for the Olympic Games

B


B ConstructionFlorida/Okeechobee, USA – Remediation of Herbert Hoover Dike


ConstructionMunich, Germany – Tunnel for Mittlerer Ring

B


ConstructionOchsenfurt, Germany – Bridge foundation across Main river

B


EquipmentBAUER Maschinen Group at Bauma 2010

C


EquipmentProduct range: BG-systems (BG 12 – BG 50)

C

Small-sized (BG 12 – BG 18) Medium-sized (BG 20 – BG 28) Large-sized (BG 36 – BG 50)

* Torque

BG 12 H BG 15 H BG 18 H BG 20 H BG 24 H BG 28 H BG 36 BG 40

125 kNm* 151 kNm* 177 kNm* 200 kNm* 222 kNm* 269 kNm* 367 kNm* 390 kNm*

BG 50

468 kNm*

BG 25

237 kNm*


C EquipmentProduct range: Foundation Cranes

MC 128MC 64MC 32


C EquipmentProduct range: Deep Drilling

RB 50 TBA 200 TBA 300


C EquipmentOther products (examples: geothermal drilling, double rotary head drilling, pile driving)

KR 707 RG 25 S BG 24 H


ResourcesMaterials Division

D

Amman, Jordan – Drilling works and installation of production wells


ResourcesExploration and Mining Services Division

D

Canada - Highland Valley Copper Mine Jordan - Oil drilling rig

Canada – Diavik Mine


ResourcesEnvironment Division

D

Oman – Reed Bed Water Treatment Plant

One third of total area (6 km2) visible


West-Germany

Employees in 1000 534.8 181.0 -45.8 -0.1 1.7 -59.5 0.0 1.2

Revenues in EUR billion 63.5 18.4 -19.7 -4.5 -0.6 -40.4 -2.0 0.6

Building construction 40.8 10.1 -21.9 -6.4 0.1 -49.9 -4.7 1.8

Foundation engineering 22.7 8.3 -14.1 -1.0 -1.9 -23.4 1.3 -0.7

Orders received *in EUR billion

Housebuilding 6.7 1.2 -59.0 2.6 9.1 -74.6 -14.5 13.9

Industrial building 15.4 4.7 -24.9 -17.4 5.5 -52.9 -6.7 7.6

Public sectorof which

public buildings 3.1 0.9 -35.6 -2.5 5.5 -61.5 3.8 -4.8

road building 6.7 2.3 -1.4 5.0 -9.6 -24.4 12.5 -10.5

underground structures 5.0 1.6 -43.4 3.4 -4.4 -50.8 -3.3 0.4

*) only companies > 20 employees

Absolute Figures

2010

-5.0 -44.814.8 4.8 5.5 -6.0-27.6 3.0

-2.1

2009

1.6-35.4

1994

1.6

2008

-6.4 -56.736.9 10.7

2009December 2010 2009/ 2010/

1994 2008East-

Germany2010/ 2010/

Change in %

West Germany East Germany2009/2010/

Market environment – GermanyGerman construction market

E

Source: Federal Statistical Office, Statistical Office Bavaria


BAUER shareFacts & Figures

F

Bauerfamily48.19 %

Free float51.81 %

Number of shares outstanding:17,131,000

Listed on Frankfurt stock exchange, Prime Standard since July 4, 2006

Shares issued 17,131,000

Issue price EUR 16.75

Listed in SDAX(MDAX from 22.09.2008 to 19.09.2010)

Earnings per share 2010 EUR 2.04 (2009 EUR 2.28)

Dividend payout 2010 (proposal)EUR 0.60 per share (2009 EUR 0.60 per share)

Year high / Year low 2010EUR 36.81 / EUR 27.38 (14.04.2010 / 01.07.2010)

YTD high / YTD low 2011EUR 38.49 / EUR 33.63 (07.02.2011 / 18.03.2011)

Market capitalisation around EUR 610 million

Shareholder structure

Share performance (2010 – YTD 2011)

SDAX

DAX

Trading volume

BAUER AG


BAUER shareDividend policy

F

2009

Dividend payment (in EUR per share)

2010*200820072006

0.30

0.00

0.60

0.90

1.20

0.50

1.00 1.00

0.60 0.60

* Proposed; subject to the consent of the Annual General Meeting to be held on June 30, 2011

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 slightly higher profit retention for the past two 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.


G Key Figures Time LineQ1 2008 – Q1 2011

Total Group Revenues(in EUR million)BAUER Group 339.7 379.8 392.3 416.0 1527.8 375.3 305.7 263.5 331.3 1275.8 261.0 331.9 369.7 341.4 1304.0 307.5

Construction 150.0 187.6 182.5 180.8 700.9 144.6 134.8 138.8 151.8 570.0 125.1 167.7 176.5 146.1 615.4 124.4Equipment 181.0 184.7 203.7 210.7 780.1 220.5 151.8 99.9 136.3 608.5 113.2 138.8 160.3 169.4 581.7 159.8Resources 22.7 30.2 34.3 47.9 135.1 31.2 40.0 46.1 57.0 174.3 35.6 41.7 47.3 53.1 177.7 39.1

Sales Revenues(in EUR million)BAUER Group 261.4 333.3 335.5 360.6 1290.8 270.6 263.4 248.2 314.3 1096.5 216.0 313.1 315.3 287.3 1131.7 255.4

Construction 130.3 156.1 159.0 138.9 584.3 118.3 106.8 122.6 140.2 487.9 114.0 141.6 155.4 94.8 505.8 112.7Equipment 113.5 150.4 150.9 186.4 601.2 126.1 117.5 84.2 128.7 456.5 69.9 132.2 118.8 148.4 469.3 108.1Resources 17.6 26.7 25.6 35.2 105.1 26.2 38.9 41.5 45.4 152.0 32.0 39.3 41.0 44.1 156.4 34.4

EBIT(in EUR million)BAUER Group 25.4 38.0 45.0 59.1 167.5 23.3 21.6 15.1 24.4 84.4 5.6 21.6 28.6 32.6 88.4 6.7

Construction 3.3 9.5 16.5 17.0 46.3 5.2 7.7 7.6 5.2 25.7 2.9 6.7 12.9 6.3 28.8 -1.3Equipment 23.7 27.3 28.6 38.7 118.3 20.3 12.8 5.6 12.6 51.3 2.6 13.7 11.6 20.4 48.3 9.2Resources -1.2 0.6 1.8 2.8 4.0 -1.1 1.7 2.2 3.2 6.0 0.1 1.5 3.3 3.2 8.1 -0.6

EBIT margin(in %)BAUER Group 9.7% 11.4% 13.4% 16.4% 13.0% 8.6% 8.2% 6.1% 7.8% 7.7% 2.6% 6.9% 9.1% 11.3% 7.8% 2.6%

Construction 2.5% 6.1% 10.4% 12.2% 7.9% 4.4% 7.2% 6.2% 3.7% 5.3% 2.5% 4.7% 8.3% 6.6% 5.7% -1.1%Equipment 20.9% 18.2% 19.0% 20.8% 19.7% 16.1% 10.9% 6.7% 9.8% 11.2% 3.7% 10.4% 9.8% 13.7% 10.3% 8.5%Resources n/a 2.2% 7.0% 8.0% 3.8% n/a 4.4% 5.3% 7.0% 3.9% 0.3% 3.8% 8.0% 7.3% 5.2% -1.7%

Q1 11

Q1 11

Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10

Q3 10 Q4 10

Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09

Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09

Q2 10 Q3 10 Q4 10Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10

2009 Q1 10Q3 09 Q4 09 Q2 10 Q3 10 Q4 10Q1 08 Q2 08 Q3 08 Q4 08 2008 Q1 09 Q2 09

2010

2010

2010

2010

Q1 11

Q1 11


Investor RelationsBAUER Aktiengesellschaft Tel.: +49 8252 97-1918 BAUER-Straße 1 Fax: +49 8252 97-2900 86529 Schrobenhausen [email protected] Germany www.bauer.de

BAUER AktiengesellschaftFinancial calendar 2011

Publication Annual Report 2010 April 15, 2011Annual Press Conference April 15, 2011Analyst Conference April 15, 2011

Annual General Meeting June 30, 2011

Interim Report to March 31, 2011 May 13, 2011

Half-Year Interim Report to June 30, 2011 August 12, 2011

Interim Report to September 30, 2011 November 14, 2011

ISIN DE0005168108Reuters B5AG.DEBloomberg B5A GR

Listing SDAX, CDAX, GEX,Classic All SharePrime All ShareDAXplus Family


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.

Documents

BAUER Aktiengesellschaft - BAUER Gruppe · and offshore drilling ... 2002 based on HGB figures, from 2003 based on IFRS figures; Resources 172 Equipment 533 Construction Overseas