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Rosenbauer Group
Investors presentation
Half-year financial results 2015
Page 2
Company profile
■ Leading manufacturer of firefighting vehicles in the fire protection and
civil defense sector
■ Full-liner – covering any needs of the fire services
■ World’s largest exporter of fire fighting vehicles
■ Largest sales and service organization in the fire industry
■ Production according to DIN and NFPA (US) standards with production facilities
in Europe, North America and Asia
■ Industry leader in technology and innovation
■ Rosenbauer Group in 2014
■ Revenue € 784.9 million
■ EBIT € 48.4 million
■ Headcount 2.941 employees
Europe 37%
NAFTA 17%
Asia/ Oceania
12%
Arab world 27%
Others 7%
Page 3
Fremont / NB
Singapore
Leonding / Austria
Traun / Austria
Neidling / Austria
Karlsruhe / Germany
Luckenwalde / Germany
Oberglatt / Switzerland
Madrid / Spain
Linares / Spain
Production facilities, sales and service
companies
Wyoming / MN
Rosenbauer America
Lyons / SD
Halfway House / South Africa
Brunei
Moscow / Russia
Production
Sales /Service
Radgona / Slovenia
Chambery / France
Dammam / Saudi Arabia
Riyadh / Saudi Arabia
Abha / Saudi Arabia
Jeddah / Saudi Arabia
KAEC / Saudi Arabia
Holmfirth / UK
Page 4
Vehicles
70% revenues
Aerials
9% revenues
Stationary
fire protection 1% revenues
Customer
Service/Others
7% revenues
Components
3% revenues
Equipment
10% revenues
Full-liner
As of 2014
Page 5
Firefighting vehicle market
■ Worldwide volume € 3,440 million (2012: € 3.061 million) p.a.
■ 17.000 vehicles (2012: 16,000) p. a.
■ Most purchasers are public sector clients
■ Rosenbauer worldwide No. 1
■ Worldwide market share 19.2% (2012: 19.2%)
■ World sales share of Top 10 companies appr. 77%
Source: Latest annual financial statements / Rosenbauer estimates /UNO statistics 2013 (as of July 2015)
0 100 200 300 400 500 600 700 800
GIMAEX Group / France (2013/14)
KME / USA (2011)
Ziegler Group / Germany* (2011)
Spartan / USA (2013)
E-One / USA (2014)
Iturri Group / Spain (2013/14)
Magirus Group / Germany (2013)
Morita Corp / Japan (2013/14)
Pierce Oshkosh / USA (2013/14)
Rosenbauer Group / Austria (2014)
Ranking of firefighting vehicle manufactures (Revenues in € million)
Half-year financial data
Page 7
Highlights 2015
■ Continued positive development despite difficult market environment
■ Record figures for revenues, earnings, and incoming orders in second quarter
■ Revenues up 14% at € 416.9 million
■ Increased deliveries to Arabic countries
■ Revenues in North America up 37%
■ EBIT up 10% at € 21.9 million
■ Additional expenses for launch of new products and for appearance at trade
fair
■ Higher location costs in Austria negatively impact earnings
■ Higher EBIT at US companies has positive effect on EBIT
Page 8
Industry development
■ Global market volumes increased
■ Positive indications from developed markets again
■ Strong need for safety in emerging nations following disasters
■ North America
■ Slight upturn in first half of year
■ Fire equipment sector set to recover again in 2015
■ Europe
■ Germany: intensive price competition shaping market – volumes slightly below
levels of recent years
■ Austria: Market volumes above levels of recent years
■ Asia
■ Brisk demand in South East Asia and China
■ Middle East
■ Investment activity remains at high level
■ Low oil price partially curbs demand
Page 9
Rosenbauer at the Interschutz 2015
■ Concentrated presentation of innovative firefighting technology
■ Global orientation and technological leadership are key pillars of success
■ Leading position in the fire equipment sector demonstrated again
■ New products meet with positive response from customers
■ More than 50 new PANTHERs sold already (Abu Dhabi, Qatar, Singapore, and India)
Page 10
The new developments
The new PANTHER
E5000
HEROS-titan
The new cage
BUFFALO extreme FOX S Commander
NAUTILUS 4/1 ECO
Page 11
The new PANTHER
■ Fourth generation of the successful ARFF
■ Has defined the state-of-the-art for ARFFs
over two decades
■ Improved view of the operational scene
■ Reliable crew protection
■ Modern assistance systems for enhanced driving
safety
■ More payload space
■ User-optimized control panel
■ First ARFF with 750 hp Euro 6 engine
■ 1,400 PANTHERs produced and delivered
to around 90 countries
Page 12
Half-year revenues and EBIT (in € million)
236.7
270.7
338.5
367.2
416.9
14.0
11.8
16.8
20.0 21.9
0,0
10,0
20,0
30,0
40,0
50,0
0,0
100,0
200,0
300,0
400,0
500,0
1-6/2011 1-6/2012 1-6/2013 1-6/2014 1-6/2015
Revenue EBIT
5.9 % 4.4% 5.0 % EBIT margin 5.4 % 5.3 %
Page 13
Revenue and EBIT quarterly (in € million)
155.1 159.5
214.8
154.8
183.7 178.8
220.6
152.7
214.5
194.9
251.8
191.3
225.6
8.0 8.7
18.2
3.7
13.1 11.2
14.3
4.7
15.3
11.7
16.7
6.0
15.9
0
5
10
15
20
25
30
0
50
100
150
200
250
300
Q2
/12
Q3
/12
Q4/1
2
Q1
/13
Q2
/13
Q3
/13
Q4
/13
Q1
/14
Q2
/14
Q3
/14
Q4
/14
Q1
/15
Q2
/15
Revenue EBIT
Page 14
Half-year segment reporting
2.4
0.8
7.9
3.6
7.5
(0.3) CEEU NISA MENA APAC NOMA Others
EBIT 1-6/2015 (2014) (in € million) Revenue 1-6/2015 (2014)
CEEU 25% (26%)
NISA 10% (12%)
MENA 26% (22%)
APAC 17% (22%)
NOMA 22% (18%)
NOMA
NISA
CEEU
APAC
MENA
CEEU NISA MENA APAC NOMA Others
EBIT 1-6/2015 2.4 0.8 7.9 3.6 7.5 (0.3)
EBIT 1-6/2014 2.0 2.7 4.0 7.8 3.5 (0.1)
Page 15
Half-year financial data
in € million 1-6/2015 1-6/2014 in %
Revenues 416.9 367.2 +14%
EBIT 21.9 20.0 +10%
EBIT margin 5.3% 5.4% -
EBT 19.5 19.6 (1%)
Net profit for the period 15.9 15.4 +3%
Cash flow of operating
activities (104.3) (85.9) (21%)
Page 16
Half-year key balance sheet data
in € million June 30, 2015 Dec 31, 2014 June 30, 2014
Total assets 711.6 579.9 525.8
Equity in % of total assets 28.6% 34.2% 36.2%
Capital employed (ø) 473.1 341.2 330.8
ROCE 4.6% 14.2% 6.0%
ROE 9.7% 24.5% 10.3%
Net debt 283.6 154.2 161.6
Gearing ratio 139.4% 77.7% 84.9%
Page 17
Solid financing (in € million)
61.0
135.4 127.8
161.6
283.6
134.6 137.1
169.3
190.3 203.5
45.3%
98.7%
75.5% 84.9%
139.4%
0%
50%
100%
150%
200%
250%
300%
0
50
100
150
200
250
300
1-6/2011 1-6/2012 1-6/2013 1-6/2014 1-6/2015
Net debt Equity Gearing ratio
Page 18
Trade Working Capital (in € million)
203.7
273.5 286.9 330.3
449.8
541.6
645.1
737.9 784.9
~ 860
37.6%
42.4%
38.9%
42.1%
52.3%
0%
15%
30%
45%
60%
0
150
300
450
600
750
900
1-6/2011 1-6/2012 1-6/2013 1-6/2014 1-6/2015
Trade Working Capital Revenue per year Trade Working Capital / Revenue per year
1)
1) Estimated revenue 2015
Page 19
Investments and Depreciation (in € million)
11.5
14.7
25.4
51.2
>25.0
8.1 9.3 10.2
12.6 15.0
2011 2012 2013 2014 2015e
Investments Depreciation
Purchase
Plant II in
2014
► Investing activities in 2015 the adaption of Plant I Leonding and the new plant in KAEC
Page 20
Number of employees (June 30)
► Additionally, Rosenbauer employs 212 leasing employees.
977
1,047
1,128
1,231
1,341
494
558
642
704
741
489
535
557
610
635
102
90
177
216
299
30.06.2011
30.06.2012
30.06.2013
30.06.2014
30.06.2015
Austria USA Germany Rest of the world
3,016
2,761
2,504
2,230
2,062
Page 21
Rosenbauer share 1-6/2015
1-6/2015 1-6/2014
Highest share price in € 85.0 69.7
Lowest share price in € 66.7 57.9
Closing price in € 75.7 63.9
Capitalization in € mill. 514.4 434.5
* Rosenbauer Beteiligungsverwaltung GmbH
BVG * 51% Free float
44%
Investor FR 5%
50,0
60,0
70,0
80,0
90,0
Jan Feb Mrz Apr Mai Jun
Rosenbauer EURO ATXPrime index.
Outlook
Page 23
Half-year order intake / backlog (in € million)
281.5
280.3
420.4
438.1
479.5
1-6/2011
1-6/2012
1-6/2013
1-6/2014
1-6/2015
Order intake
447.5
715.8
682.5
731.8
835.7
30.06.2011
30.06.2012
30.06.2013
30.06.2014
30.06.2015
Order backlog as of June 30
Page 24
Outlook
■ Industry facing various challenges
■ Growth predominantly to come from Asia and Middle East
■ Positive trend in demand expected in North America in 2015
■ Only minor recovery in Europe – though with intensive price competition
■ Investments to exceed depreciation again in 2015
■ Plant I in Leonding to be renovated to boost efficiency
■ US locations expanding capacity and redesigning processes
■ Construction of a production site in KAEC in Saudi Arabia in progress
■ Growth with a solid financial basis
■ Expenses for launch of new products and appearance at world’s largest trade fair
to influence results for 2015
■ Focus on improving earnings and reducing working capital
■ Increase in revenues and EBIT of 10% targeted
Thank you!
Page 26
Disclaimer
This presentation has been prepared by Rosenbauer International AG for information purposes only. Maximum care has been taken to ensure that the information contained herein is not untrue, however, Rosenbauer International AG does not assume any responsibility for its complete accuracy or correctness.
This presentation may not be reproduced, transmitted or distributed (in whole or in part) by any other person. Unless otherwise stated, all views (including statements and forecasts) are solely those of Rosenbauer International AG and are subject to change without notice.
This presentation is aimed solely at investment professionals who are expected to make their own investment decisions without placing undue reliance on the information interpreted by Rosenbauer International AG, which under no circumstance accepts any responsibility for consequences arising from the use of this report.
This document does not constitute an offer or invitation to subscribe for or purchase any securities and neither this document nor anything contained herein shall form the basis of any contract or commitment whatsoever.