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Rosenbauer Group
PersonDate
Investor & Analyst Presentation I Q1 2020 Financial FiguresSebastian Wolf I CFO
May 19, 2020
Rosenbauer Group
Investor Presentation I 2
Disclaimer
This presentation was produced by Rosenbauer International AG(Rosenbauer for short) for informational purposes only. Despite thegreatest care taken by Rosenbauer, no guarantee is given for thecorrectness and completeness of the content.This presentation may not be reproduced, transmitted, or distributed(neither in its entirety nor in part). Unless otherwise stated, all information(including financial statements and forecasts) is the property ofRosenbauer and may therefore be changed without prior notification byRosenbauer.All decisions based on information included in the Rosenbauerpresentation are the sole responsibility of the user. Rosenbauer acceptsno liability for the actions and consequences resulting from the use of thepresentation.None of the information provided in the presentation constitutes, or isintended to be, an invitation to buy or trade in Rosenbauer shares.
Agenda
1. Rosenbauer Group at a glance
2. Q1 2020 financial figures
3. Outlook
Q&A
Rosenbauer Group at a glance
Bilanzpressekonferenz I 5
Equity story
■ System provider of fire-fighting equipment andpreventive fire protection
■ Globally leadingproducer of fire-fightingvehicles
■ 16% RB market share(global market volume2018: ~ 19,500 pcs)
■ First moverpioneeringsustainabilitytechnologies
■ Lighthouse-project „Concept Fire Truck“
■ Present in around 120 countries■ 9 Production sites in Europe, 3 in the US and
4 in Asia■ Around 250 sales
partners worldwide■ Broad diversification
by geographiesand products
■ High R&D expenditures, Rosenbauer Group holdsmore than 200 patents
■ Above-the-market growth over the last 10 years■ Sustainable dividend policy, safe dividend
payments
GLOBAL MARKET LEADER INNOVATION LEADER
UNRIVALLED WORLDWIDE NETWORK RESILIENT BUSINESS MODEL
Investor Presentation
Bilanzpressekonferenz I 6
Global network of production facilities, sales and service offices
ProductionSales / Service
Around 250 sales partners worldwide.
EUROPEAUSTRIALeondingNeidlingGrazTelfs
FRANCEChambéry
GERMANYKarlsruheLuckenwaldeMogendorf and GladbeckBad Abbach-LengfeldViersen
ITALYRovereto
POLANDWarsaw
RUSSIAMoscow
SLOVENIARadgona
SPAINLinaresMadrid
SCHWITZERLANDOberglatt
UNITED KINGDOMHolmfirth
AMERICALyons / South-DakotaFremont / NebraskaWyoming / MinnesotaRosenbauer America
MIDDLE EAST/ AFRICASAUDI-ARABIADschiddaKAECRiad
SOUTH AFRICAHalfway House
ASIA/AUSTRALIACHINAKunming
SINGAPORESingapore
PHILIPPINESMandaluyong
BRUNEI
AUSTRALIABrisbane
Investor Presentation I 6
Bilanzpressekonferenz I 7
World firefighting vehicle market 2009-2018
Fire-fighting vehicle market worldwideApproximate number of vehicles in thousands
Fire-fighting vehiclemarket worldwideGlobal annual volumein EUR billion
16 16 15 1617
21.5 2219 21 19.5
2009 1110 1614 201812 1513 17
+2.2%p.a.
3 3 2.8 3.13.4
3.74.2 4.3 4.3
4.8
15102009 111 12 13 1614 17 2018
+5.4%p.a.
541.8595.7
541.6645.1
737.9784.9
865.4870.8
847.6909.4
978.1
2019161514132009 10 11 12 17 18
+5.9%p.a.
■ From 2009 to 2018 the global firefighting vehicle market has constantly outperformed world GDP, which grew at an annual average rate of 3.5%
■ In 2018 market volume was about € 4,800 million (2017: € 4,250 million) / 19,500 units (2017: 21,100 units)■ Rosenbauer holds market shares of 16% (value) and 11% (units) respectively
Rosenbauer GroupRevenuesin EUR million
Investor Presentation I 7
Bilanzpressekonferenz I 8
Leading system provider for fire protection(Product segments and % of group revenues; as of Dec. 31 2019)
7%
9%
6%
16%
16%
40%
Municipalvehicles
ARFFvehicles
Aerials
Industrialvehicles
Vehicles78%
Fire & SafetyEquipment
Customer Service
Stationary FireProtection
2%4% sonstige Umsätze
Investor Presentation I 8
Investor Presentation I 9
Innovative CFT technology receives excellent market response
Strong feedback and initial orders from premium customers
Berlin fire service
Brandweer Amsterdam
Dubai Civil Defence
Oslo Fire Brigade
L.A. Fire Department
Pre-reservationsfor 2021/2022■ Canberra■ Portland■ Las Vegas■ Vancouver
Successful series implementation■ Series development going according to plan■ Leading technology partners on board:
Volvo Penta, BMW, Knorr-Bremse, TTTech, AVL■ Plans are in place to unveil the first pre-series
vehicles in September 2020.
Investor Presentation I 10
Rosenbauer face cover
■ Developed with professional components ofRosenbauer HEROS fire fighting helmets
■ Extensive face protection against droplets■ Perfect for use in public administration,
supermarkets, furniture shops, nursing homes, hotels, restaurants, hairdressers…
■ Multi-adjustable for all head sizes■ Suitable for wearers of glasses■ Perfectly ventilated, comfortable, stable
and light weight■ Easy to clean and disinfect■ Around 11,500 pcs sold since start of April
■ Available @ rosenbauer.com/fanshop■ Price 26.40 € per unit
Investor Presentation I 11
COVID-19 pandemic:Risks to Rosenbauer Group
DisruptionsNo permanent disruptions so far.
RisksCustomer acceptances■ Single delays ■ Temporary official shut-downs in France, Spain and South-Africa
repealedSupply chain■ Suppliers of chassis have restarted their production, single delays in
the US Staff■ Initial concerns and uncertainty vanishing, sick leave on low levelsRegulation■ Procedural specifications (travel ban, minimum distances, protective
mask obligation, no business trips etc.)
Normal operationLiquidityITEnergy supply, waste
Investor Presentation I 12
COVID-19 pandemic:Measures
Permanent crisis management team at Group level■ Ongoing situational assessment, communication and crisis
management to safeguard operations and protect employee health
Rigid health management■ Early travel bans■ Comprehensive set of “coronavirus” procedures■ More broadly defined “Rosenbauer quarantine” has successfully
slowed down the rate of infection within work force
Production cutback in Austria■ Company holidays brought forward (April 6–17 instead of August)■ Now short-time work; continuation of production with rotating, half-
size teams to improve operational responsiveness
Q1 2020 financial figures
Investor Presentation I 14
Rosenbauer Group highlights
■ The Rosenbauer Group increases revenues by 32.5 % to € 232.9 million in Q1 2020, which makes the period the historically strongest first quarter ever■ All sales areas contribute to the jump in revenues; foremost Area NISA, which
has doubled its turnover■ Stationary fire protection shows less turnover due to temporary, COVID-19
related closures of construction sites■ EBIT reaches € 4.3 million in Q1 2020
■ Based on a higher production output with increased billings and improved coverage of fixed costs
■ Order intake with € 282.3 million below outstanding Q1 2019, but still above long-term average
■ Against the backdrop of full order books Rosenbauer management expects revenues to achieve again previous year´s level in 2020, a guidance on EBIT is not yet feasible
Investor Presentation I 15
Revenues and EBIT quarterly
181,9211,7 210,9
243,1
162,4190,3 199,3
357,4
175,8
218,8 219,9
363,6
232,9
5,8
12,1
6,3
1,1
8,97,0
31,8
2,1 3,1
9,9
36,8
4,3
0
5
10
15
20
25
30
35
40
45
50
Q1/
17
Q2/
17
Q3/
17
Q4/
17
Q1/
18
Q2/
18
Q3/
18
Q4/
18
Q1/
19
Q2/
19
Q3/
19
Q4/
19
Q1/
20
Revenues EBIT
-3.1
€ million
Investor Presentation I 16
Revenues development
NOMAQ1 19 CEEU SFPAPAC Q1 20
Area RevenueQ1 2020 67.7 20.033.6 29.4 77.7 4.5
Area RevenueQ1 2019 58.8 13.916.4 20.1 61.5 5.0
Order IntakeQ1 2020
CEEU MENANISA APAC NOMA
€ million
175.8 +8.9+17.1 +6.1
+9.3+16.3 -0.6 232.9
+32.5%
51.434.2 33.0 70.9 6.786.1
■ Rosenbauer Group with jump in revenues in 1-3/2020
■ 5 out of 6 businesssegments achievehigher volumes
■ Area NISA doublesits turnover, Area APAC and Area MENA grow by 46 % and 43 % respectively
Investor Presentation I 17
EBIT development
NOMAQ1 2019 CEEU SFPAPAC Q1 2020
Area EBITQ1 2020 2.5 0.40.8 -0.2 2.9 -2.1
Area EBITQ1 2019 2.2 -1.4-0.1 0 2.5 -1.0
CEEU MENANISA APAC NOMA
€ million
2.1+0.4
+0.9
+1.8 -0.2 +0.3 -1.0
4.3
+104.8%
■ In 1-3/2020 EBIT has doubledcompared to thecorrespondingperiod of theprevious year
■ Strong operatingperformance withhigher billings andimprovedcoverage of fixedcosts
■ 4 out of 6 areas in line with businessdevelopment
Investor Presentation I 18
6,1
3,7
5,1
3
3,93,4
3,9 4,1 4,1 4,3
Q1 2016 Q1 2017 Q1 2018 Q1 2019 Q1 2020
Investments Depreciation and amortization
Investments
CAPEX, depreciation and amortization€ million
■ Installation of photovoltaic systems in Leonding and in Neidling
■ Preparation of plant II in Leonding for production of theConcept Fire Truck
Investor Presentation I 19
Financial figures
€ million 1-3/2018 1-3/2019 1-3/2020 2019/ 2020
Revenues 162.4 175.8 232.9 +32%
EBIT 1.1 2.1 4.3 +105%
EBIT margin 0.7% 1.2% 1.8% -
EBT 0.9 0.7 2.7 +286%
Net profit for the period 0.8 0.6 2.2 +267%
Cash flow from operating activities -19.9 -56.6 -45.7 +19%
Investor Presentation I 20
Accounting ratios
€ million / % Mar. 31, 2019 Dec. 31, 2019 Mar. 31, 2020 FY 2019/ Q1 2020
Total assets 849.4 977.5 1,015.9 +4%
Equity ratio 27.8% 25.9% 25.3% -
Capital employed (ø) 552.5 603.8 706.4 +17%
ROCE 0.4% 8.6% 0.6% -
ROE 0.3% 18.6% 1.1% -
Net debt 293.3 342.5 393.3 +15%
Gearing ratio 124.0% 135.1% 152.7% -
1
2
3
1) Total assets without application of IFRS 16: 979.2 m€2) Equity ratio without application of IFRS 16: 26.3%3) Net debt without application of IFRS 16: 356.4 m€4) Gearing ratio without application of IFRS 16: 138,4%
4
Investor Presentation I 21
Balance sheet structure (in € million)
281,8430,0484,5484,5
0,0
0,00,00,0
209,6
239,8308,1308,1
181,6
179,7
223,3186,6
673,0
849,4
1.015,9979,2
Q1 2018Q1 2019Q1 2020Q1 2020without IFRS 16
Assets
Receivablesand otherassets
Constructioncontracts
Inventories 242,6 312,6439,6 402,7
225,7236,6
257,5 257,5149,7
241,8
266,7 266,9
54,9
58,5
52,1 52,1
673,0
849,4
1015,9 979,2
Q1 2018 Q1 2019 Q1 2020 Q1 2020without IFRS 16
Provisions
Liabilitiesand otherdebt
Equity
Interest-bearingliabilities
Investor Presentation I 22
■ Long throughput times of 8 to 12 months■ Prepayments averaging 14.5%■ Average payment term of 81 days
Trade working capital and Financing
FINANCING€ m i l l i o n
TRADE WORKING CAPITAL€ m i l l i o n
Trade Working Capital€ million
Financing€ million
211,3
293,3
393,3
225,7 236,6
257,5
63,6%
124,0%
152,7%
0
50
100
150
200
250
300
350
400
Q1 2018 Q1 2019 Q1 2020
Net DebtEquityGearing Ratio
362,4
463,7513,2
909,4978,1 ~ 980
39,9% 47,4% 52,4%
0%
25%
50%
75%
100%
125%
150%
175%
200%
225%
0
250
500
750
1000
Q1 2018 Q1 2019 Q1 2020
Trade Working CapitalAnnual RevenueTrade Working Capital / Annual Revenue
Investor Presentation I 23
Outlook
Investor Presentation I 24
Order intake / backlog
Order intake/backlog€ million
Order intake Q1 2020by Area (Q1 2019)
CEEU31% (37%)
NISA12% (7%)
MENA18% (15%)
NOMA25% (12%)
APAC12% (27%)
SFP2% (2%)
€ 282.3m
211,8 207,9 236,2
338,1282,3
861,7790,6
933,8
1.219,2 1.184,5
1-3/2016 1-3/2017 1-3/2018 1-3/2019 1-3/2020
Order intake Order backlog
Investor Presentation I 25
Outlook
■ The COVID-19 pandemic is having a severe impact on economic activity. According to the IMF the global economy is about to contract sharply – by -3 % - in 2020.
■ The world fire service market follows the economic cycle with a delay of several months and has shown stable demand in Q1 2020.
■ Especially North-American and Western-European markets seem set to continue with their positive performance.
■ A higher safety awareness and its public sector customer base should mitigate any fallout and make the global firefighting industry more resilient than other sectors.
■ Rosenbauer Group is regarded a part of the critical security infrastructure and has a record order level of more than €1.1 billion – with no cancellations so far.
■ Against the backdrop of full order books Rosenbauer management expects revenues to achieve again previous year´s level in 2020, a guidance on EBIT is not yet feasible.
Thank you for your attention!
Q&A
Appendix
Investor Presentation I 28
Executive board
Daniel TomaschkoCTO
Supply Chain ManagementCentral TechnicsCenter of CompetenceOperationsStationary Fire Protection
Sebastian WolfCFO
AuditControllingAccounting/TaxTreasuryLegal & Compliance & InsuranceExport FinanceInvestor Relations/CSRIT
Andreas ZellerCSO
Area CEEUArea NISAArea APACArea NOMAArea MENACustomer Service Sales Administration
Dieter SiegelCEO
Corporate DevelopmentHuman ResourcesStrategyInnovation & Marketing Group CommunicationFire & Safety EquipmentProduct Management
Investor Presentation I 29
Segment reporting by areas
CEEU: Central & Eastern EuropeNISA: Northern Europe, Iberia, South America, AfricaMENA: Middle East & North AfricaAPAC: Asia, Pacific, Australia, ChinaNOMA: North & Middle America
Investor Presentation I 30
Number of employees (reporting date)
In addition, Rosenbauer employs approximately 300 temporary employees.
1,213
1,322
1,404
1,367
1,379
744
790
841
858
886
768
848
878
927
973
325
355
392
452
517
Mar 31, 2016
Mar 31, 2017
Mar 31, 2018
Mar 31, 2019
Mar 31, 2020
Austria USA Germany Rest of the world
3,490
3,360
3,241
3,690
3,986
Investor Presentation I 31
Rosenbauer share
* Rosenbauer Beteiligungsverwaltung GmbH
1-3/2019 1-3/2020
Highest price € 45.6 45.4
Lowest price € 33.1 23.0
Closing price € 39.5 27.6
Market capitalization € million 268.6 187.7
Dividend € 1.25 0.8
Dividend yield % 3.2% 2.9%
Earnings per share € -0.3 -0.1
BVG *51%Free float
44%
InvestorFR5%
Indizes: ATPX, AFA, AIGS, AP8, AXGP, NAP8, NTFA, TAP8, TFA, VOX, WBI
1) Proposal to the Annual Meeting
15 €20 €25 €30 €35 €40 €45 €50 €
Jan Feb MarRosenbauer EURO ATXPrime index.
ATX Prime -37.1%; ROS -31.2%
Investor Presentation I 32
Financial calendar
August 14, 2020 Publication of the Half-year Financial Report 2020
November 17, 2020 Publication of the Interim Statement Q3/2020