May 31, 2016 - Wacker Neusonwackerneusongroup.com/fileadmin/user...Executive Board Report May 31,...
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Executive Board Report
May 31, 2016
2016 Annual General Meeting of Wacker Neuson SE
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Content
2
Fiscal 2015
Financial indicators
and share news
Technology and innovation
Q1 2016
Annual General Meeting
Vision – Strategy
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The ups and downs of fiscal 2015
3
Record revenue of € 1,375 million
Solid growth in Europe (+6%), double-digit growth in Asia-Pacific
(+22%, from a low level)
Compact equipment segment again main growth driver (+15%),
esp. in Americas (+60%)
Progress on expansion of international reach
Successful launch of compact equipment in China
New sales affiliates established in Asia (Shanghai) und Latin
America (Peru, Columbia)
Extension of dealer network for Weidemann and Kramer
Alliance with HAMM AG proved successful (rollers)
Progress on many projects (eStore, procurement synergies, R&D,
LEAN Management, logistics, aftermarket))
Innovations setting benchmarks (e.g. dual power excavator,
electric wheel loader, battery-powered rammer etc.)
Robust financial situation (equity ratio: 69%; gearing: <20%)
EVA (EUR 1.1 million), free cash flow (EUR 17.8 million)
Crisis in many markets/regions hit revenue and especially
profitability in H2/2015
Energy sector (oil & gas) → squeeze on oil prices made it
impossible to cost-effectively extract crude oil in North America
Extraction of row materials (mining) → low prices negatively
impacted important countries (Australia, Chile, Brazil, South
Africa)
Downturn in the agricultural equipment sector → drop in prices
for milk and other agricultural products dampened willingness
to invest amongst agricultural landholders
Weak markets in France, Russia
Strong US dollar squeezed exports
Negative currency developments in emerging markets
Especially strong margin business of light equipment was
affected by crisis-hit markets
New emission legislation had a major impact on costs, missing
harmonization on standards for North America and Europe
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Key figures 2015
4
1Incl. capitalized expenses
Revenue
EUR 1.38bn (+7 % to prev. year; +3 % before FX)
EBIT
EUR 104m (7.5% of rev.; -3.1 PP to prev. year)
EVA
EUR 1.1m (EUR 32m in prev. year)
ROE
6.4% (-3.0 PP to prev. year)
R&D expenditure1
EUR 44.6m (+8 % to prev. year; 3.2% of rev.)
EBITDA
EUR 171m (12.5% of rev.; -2.8 PP % to prev. year)
Net profit per share
EUR 0.94 (-28% to prev. year)
Equity (Dec. 31, 15)
EUR 1.06bn Equity ratio: 69%
Employees
4,632 (+6% to prev. year)
Market capitalization (Dec. 31, 15)
appr. EUR 1bn (May 30,16: EUR 1,090 m)
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Global construction machinery markets 2015 vs. 2014
5Sales of earth moving equipment, Source: ISC-Statistics, VDMA, February 2016
Crisis-hit markets dampened willingness to invest and reduced machinery sales
North America
Latin America
Europe Russia
Africa
Middle East
India
China
Rest of Asia
Oceania
Earth moving equipment
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Development of raw material and oil prices
6
Source: IMF - The International Monetary Fund, February 2016
Price indices development
0
50
100
150
200
Jan
. 2
01
4
Feb
ruary
Ma
rch
April
Ma
y
Jun
e
July
Augu
st
Septe
mbe
r
Octo
be
r
No
ve
mbe
r
De
ce
mbe
r
Jan
. 2
01
5
Feb
ruary
Ma
rch
April
Ma
y
Jun
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July
Augu
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Septe
mbe
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Octo
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mbe
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01
6
Raw materials in total Agriculture Metals Crude oil(as a %)
2005 = 100%
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Low oil prices make exploration economically impossible in some regions
7January 9, 2016
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Low oil & gas prices hit Wacker Neuson business
8
23%
77%
FY 2014
Oil & Gas Others
Oil & Gas: Wacker Neuson North America exposure
Oil & Gas industry remains difficult
(% of revenue)
14%
86%
FY 2015
Oil & Gas Others
Exposure
decreased
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FAO – Food Price Index1
9
Continued decrease of food prices
Source: FAO, January 2016, FAO = Food and Agriculture Organization of the United Nations. The FAO Food Price Index is a measure of the monthly change in international prices of a basket
of food commodities. It consists of the average of five commodity group price indices.
100
120
140
160
180
200
220
240
260
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 Jan 16
Food Meat Dairy Cereals1 100 = average prices 2002-2004
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Global market for agricultural machines
10
Market for ag machinery declined significantly – 2015 below 2011 level
Source: VDMA Landtechnik (estimated, September 2015)
-7%-4%Market volume of ag machines in EUR bn.
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2015 2014
66% 64%
14% 15%
20% 21%
Construction and other industries
Agriculture
Services
Agriculture (Weidemann, Kramer, Claas)
11
Revenue1 2015 vs. 2014Group revenue 2015
1
(in € million)
Crisis in the agricultural sector
Q4/15 vs. Q4/14: -9%
(Q3/15 vs. Q3/14: -28%)2014 2015
196.1 192.7-2%
1 Nominal, before cash discounts
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5 years comparison: Revenue development per quarter
12
Quarter-on-quarter comparison (revenues)
The downturn left its mark in second half of the year 2015.
(in € m)
+53% +43% +25% +36%
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5 years comparison: FY revenue and EBIT margin
13
Revenue and EBIT margin 2011 - 2015
1 Without Impairment: 12.5%
€ 543 m EBIT generated in 5 years: → Ø € 109 m p.a.
(in %)
11.4%1
7.8% 8.2%
10.6%
7.5%
(in € m)
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2015: Revenues per region / business segment1
921,7 979,3
2014 2015
14
Europe2
+6% (+5%)
422,3 417,1
2014 2015
Light equipment3
-1% (-9%)
323,7348,5
2014 2015
Americas2
+8% (-5%)
606,0697,5
2014 2015
Compact equipment3
+15% (+13%)
38,9
47,5
2014 2015
Asia/Pacific2
+22% (+12%)
273,0 283,9
2014 2015
Services3
+4% (+0%)
1 In brackets: adjusted to discount currency effects; 2 Nominal, after cash discounts; 3 Nominal, before cash discounts
(in € m)
(in € m)
(in € m)
(in € m)
(in € m)
(in € m)
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Comparison of peer group construction divisions (global)
Company
Peer 1 Construction division1
Wacker Neuson Group
Peer 2 Construction division
Peer 3 Construction division
Peer 4 Access Equipment div.2
Peer 5 Construction division
Peer 6 Construction division1
Peer 7 Construction division1
Peer 8 Construction division
Peer 9 Construction division1
Peer 10 Construction division
Peer 11 Construction division
Peer 12 Construction division
15
-24%
-20%
-14%
-13%
-9%
-5%
-5%
-3%
-3%
3%
4%
7%
9%
Change in revenue 2015 vs. 2014
1 fiscal year differs from calendar year, figures show 9M/20152 fiscal year differs from calendar year, figures show fiscal year ended in fall 2015
Revenue (Change vs. 2014)
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Comparison of peer group agriculture divisions (global)
16
Revenue (Change vs. 2014)
Company
Peer 13 Agriculture division1
Wacker Neuson Agr. Div.
Peer 14 Agriculture division1
Peer 15 Agriculture division
Peer 16 Agriculture division-28%
-23%
-20%
-2%
0%
1 fiscal year differs from calendar year, figures show fiscal year ended in fall 2015
GJ 2015 vs. 2014
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Headcount trends
43724632
2014 2015
(Positions)
17
1FTE = Full-time employees (positions), not incl. temporary workers
Employees 2014 – 2015
+6% (+260 employees1)
4990 5005
2014 2015
(Positions)
Employees 2014 – 2015 (incl. temporary workers)
+0% (15 employees)
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Employee programs
18
Train and Grow 2015/2016 PerspACTIVE 2015/2016
Team building 2015Global Leader Summit 2015
Examples
‘Train and Grow’ trainee program
PerspACTIVE – young manager program
INTRAMove – global employee exchange
Wacker Neuson academies with growing
course offering
Global Leader Summit to discuss strategy over
several days
Team building activities
Many more local and regional activities and
programs
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Training
159173 181
197
2012 2013 2014 2015
(Number)
19
1 Germany, Austria
Developing young talent in-house is becoming increasingly important
TraineesTrainees1 2012 – 2015
+38% (+24%)
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Measurable progress in sustainability management
www.wackerneusongroup.com/en/sustainability/downloads/
20
Ensuring the highest occupational
safety standards
Operator safety and protection for
customers and users
Maintaining quality across all
processes
Legal compliance and anti-corruption
Energy- and resource-efficient processes in
production, sales, logistics and
administration
Tapping unused energy efficiency potentials
and reducing costs through energy and
environmental management systems (ISO
50001, ISO 14001) and energy use control
Environmentally friendly products and
solutions for customers (ECO products)
Intensive dialogue with customers /
stakeholders and involving them in the
product development process
Building a reputation as an attractive
employer
Responsible interaction between
colleagues
Regular involvement in social projects
(corporate citizenship)
Sustainable value chain
Reducing operating costs for customers
through energy-efficient products (ECO and
zero-emissions products)
Integration of management systems (quality,
energy, environment)
Ecology Society
Safety Economy
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Content
21
Fiscal 2015
Financial indicators
and share news
Technology and innovation
Q1 2016
Annual General Meeting
Vision – Strategy
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2015: Development of revenue and profitability
22
(in € m)
2015 in % of revenue 2014 in % of revenue Change in %1
Revenue 1,375.3 100.0 1,284.3 100.0 +7.1 (+2.7)
Gross profit 384.5 28.0 381.3 29.7 +0.8
SG&A and R&D cost2 -291.3 21.2 -262.9 20.5 +10.8
Operating Profit2 93.2 6.8 118.4 9.2 -21.3
EBIT 103.6 7.5 136.2 10.6 -23.9
Net profit 66.2 4.8 91.5 7.1 -27.7
Net profit per share in € 0.94 1.30 -27.7
EBITDA 171.3 12.5 196.3 15.3 -12.7
Number of employees 4,632 4,372 +5.9
Income statement (extract)
1 in brackets: adjusted to discount currency effects2 without other income/expenses
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(€ million)
2011 2012 2013 2014 2015
Average capital employed (in % of revenue) Revenue Return on capital employed (ROCE II) Weighted average cost of capital (WACC)
1 (ROCE II – WACC) * average capital employed = economic value added (EVA)2 Return on equity = Profit/loss after minority interests / average equity before minority interests3 Return on assets = Profit/loss before minority interests / average balance sheet total
9921,092
1,375
1,160
1,284
647
794859 897
7.5% 7.5% 7.1% 7.1%
12.5%
7.6% 7.7%
10.8%
ROCE II > WACC, positive EVA1: EUR 1.1 million
2015: Positive economic value added (EVA)1
23
977
7.1%
7.3%
ROE (%)2 9.0 6.1 6.6 9.4 6.4
ROA (%)3 7.0 4.3 4.6 6.7 4.4
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+23%
(in € million)
-17%
+13%
2014 2015
67.7
2014 2015
17.8
21.5
2014 2015
131.0
106.8
(in € million)
-85.3
+33%
-113.2
Depreciation/amortizationCash flow
from operating activities
Cash flow
from investment activitiesFree cash flow
2015: Comfortable liquidity situation despite high investments
24
(in € million) (in € million)
2014 2015
60.1
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90
214177 180 199
901 915 9361.012
1.064
10%
23%
19%18%
19%
0%
5%
10%
15%
20%
25%
30%
35%
40%
0
200
400
600
800
1.000
2011 2012 2013 2014 2015
Net financial debt Equity before minority interests Gearing as a %
Stable net financial debt
25
High equity ratio of 69%, gearing <20%
(€ million)
Equity, net debt and gearing 2011 – 2015
(as a % of equity)
SSD: 120
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SAP timing – roll out
26
Revenues with SAP today:
90% (Status Q1/2016)
Until 2015 2015 2016 2016/2017 2017/2018
USA (4)
CAN
DEU (6)
AUT
SRB
FRA
AUT
SGP
GBR
MEX
CHN
ESP
CH
CHI
NLD
AU
NOR
SWE
DNK
POL
RUS
HUN
ITA
CS
TRK
BRA
PER
COL
ZAF
IND
PHI
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Share price development
27
in € 2011 2012 2013 2014 2015
Earnings per share 1.22 0.77 0.87 1.30 0.94
End of period 9.55 10.35 11.49 16.96 14.23
High 13.49 13.45 12.75 18.00 24.60
Low 8.35 9.06 9.24 11.49 11.12
Book value1 12.84 13.04 13.34 14.42 15.17
Market capitalization (in € m) 669.8 725.9 805.6 1,189.2 998.1
ISIN / WK DE000WACK012 / WACK01
Reuters / Bloomberg WACGn.DE / WAC GR
Indices SDAX, DAXplus family, CDAX, GEX, Classic All Shares
Share Prime All Share
Total shares 70.140.000
Shareholder structure 63% Family; 37% Free float (thereof management: 0.5)
Key figures share
Jan. 1, 2015 – May 24, 2016 Jan. 1, 2016 – May 24, 2016
1 before minority interests
as % as %
Jan. 1, 2011 – May 24, 2016
as %
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Content
28
Fiscal 2015
Financial indicators
and share news
Technology and innovation
Q1 2016
Annual General Meeting
Vision – Strategy
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Legal emissions regulations in Europe
29
Challenge Developing new machines that meet new emissions regulations, motors under 19 kW in Europe by 2020, different
solutions needed for different market requirements
EU V
zero emissions
(2019)
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Emission legislation (world) 2019ff
30
Source: Global emissions standards for non-road and marine diesel engines, AVL 2014
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Performance unchanged – compared
to machines with conventional drive
systems
Innovative products, environment-
friendly and perfect especially in
closed areas or less ventilated sites
Emission-free solutions
Lower maintenance and service costs
31
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32
Successful bauma 2016: Facts & Figures
Visitors 3,423 exhibitors
from 58 countries
ca. 580,000 visitors (+10%)
from 200 nations
WN Group 5,380 m² area
Over 250 shown machines
form brands Wacker Neuson
and Kramer
>50 new products and models
April 2016, Munich
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33
Excavators
new
new new new new new newnew
Shipping weight: 932 – 992 kg 955 – 1,015 kg 1,402 – 1,602 kg 1,596 – 1,822 kg 1,582 – 2,060 kg 1,862 – 2,182 kg 2,057 – 2,401 kg 2,483 – 2,794 kg 2,575 – 3,222 kg
Shipping weight: 3,426 – 4,506 kg 3,582 – 4,303 kg 4,960 – 6,165 kg 5,806 – 6,682 kg 7,588 – 8,877 kg 8,348 – 9,625 kg 14,917 – 15,701 kg 6,472 – 7,720 kg 9,241 – 10,461 kg
1,402 – 1,602 kg
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VDS – Vertical Digging System
34
Comfort for the
driver: always
an upright
working position
Up to 25% time
and material
savings
Tilting of upper
carriage by up
to 15%
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new new new new
Maximum payload: 1,000 kg 1,500 kg 1,500 kg 2,000 kg 3,000 kg 4,000 kg
Maximum payload: 5,000 kg 6,000 kg 9,000 kg 10,000 kg
Dumper
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Concept study “dual view”
36
180°-rotation of entire
driver’s station in no
time
Higher productivity no
delay and no fuel
consumption due to
maneuvering
More safety: Perfect
view of the working
area at all times
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Wheel loaders
new
Bucket capacity: 0.2 m³ 0.2 m³ 0.36 m³ 0.59 m³ 0.45 m³ 0.6 m³ 0.6 m³
Bucket capacity: 0.8 m³ 0.8 m³ 1.0 m³ 1.0 m³ 2.0 m³
newnew
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Telescopic handlers
newnew
Max. stacking height: 3,901 mm 4,259 mm 5,156 mm 5,730 mm
Max. payload: 780 kg 1,250 kg 2,200 kg 2,700 kg
Max. stacking height: 7,000 mm 7,000 mm 7,017 mm 7,017 mm 7,017 mm 8,750 mm
Max. payload: 3,000 kg 3,500 kg 4,300 kg 4,800 kg 5,500 kg 5,500 kg
new
new new new new new new
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Rammers
Operating weight: 45 kg 70 kg 83 kg 30 kg 59 kg 66 kg 74 kg
Operating weight: 63 kg 71 kg 64 kg 72 kg 68 kg 69 kg 66 kg 74 kg
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World’s most environmentally
sound rammers
40
Zero emissions with battery-powered rammers:
Zero-emissions operations in trenches and built-up
areas
Low total cost of ownership thanks to low
maintenance costs and low energy consumption
Wacker Neuson battery-
powered rammers won
the Euro Test Award
from BG Bau for their
outstanding contribution
to health and safety.
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Centrifugal force: 40 kN 45 kN 56 kN 65 kN 80 kN 80 kN 90 kN 110 kN 110 kN 130 kN
Centrifugal force: 10 kN 11 kN 13kN 15 kN 20 kN 15 kN 15 kN 18 kN 30 kN 15 kN 25 kN 30 kN 37 kN
41
Vibratory plates
newnewnew new new
new new new newnew new new
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Heavy vibratory plates: DPU80, DPU80r, DPU90, DPU110, DPU110r
42
Exceptionally low
hand-arm vibration:
below 2.5m/s²
Robust: Steel
tube frame and
steel cover
sheets
Quick lowering
and reset of
center pole via
foot pedal
Infrared remote
control for DPU80r
& DPU110r
Wide opening cover
for easy service
access
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Rollers
Operational weight: 3,825 kg 4,015 kg 4,345 kg 3,995 kg 4,435 kg 4,815 kg 4,935 kg 6,320 kg 6,190 kg 6,105 kg
Operational 1,422 kg 1,580 kg 1,670 kg 1,630 kg 2,475 kg 2,385 kg 2,525 kg 2, 695 kg 2,595 kg 2,755 kg 3,965 kg
weight:
upgrade new new newnew new new newnew new new
newnew new
new new newnew
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44
new
Telescopic handlers
new
newnew
Max. stacking height: 3,901 mm 4,259 mm 5,156 mm 5,730 mm
Max. payload: 780 kg 1,250 kg 2,200 kg 2,700 kg
Max. stacking height: 7,000 mm 7,000 mm 7,017 mm 7,017 mm 7,017 mm 8,750 mm
Max. payload: 3,000 kg 3,500 kg 4,300 kg 4,800 kg 5,500 kg 5,500 kg
new
new
new
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Wheel loaders
Bucket capacity: 0.25 m³ 0.35 m³ 0.55 m³ 0.55 m³ 0.65 m³ 0.75 m³ 0.85 m³ 0.95 m³
Bucket capacity 0.75 m³ 0.85 m³ 0.95 m³ 1.05 m³ 1.15 m³
new
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Electric wheel loader 5055e
46
100% emission-free:
with two electric engines,
one for work hydraulics
and one for drive system
Proven lead-acid battery
to run the electric engines
Battery lasts for at
least 5 working
hours
Mobility, maneuverability
and operational comfort
are similar to the
conventional modelsKramer electric wheel loader
received the bauma
Innovation Award in the
Machinery category.
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Consolidating light equipment testing/technology and production at
Reichertshofen
47
New administration building for up to 120 people (3,500 m2) and a hall for technology and testing at PGR (2,900 m2)
Approximately EUR 9.5 million invested in construction project
Start of construction in April 2016 – employees move in at the end of 2016
Plan of the production site at Reichertshofen Silver spade ceremony in April 2016
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Official opening of our new assembly facility in Brazil (since April 2016)
48
Itatiba, São Paulo, Brazil
Products: mobile generators:
50-70 kilovolt-amps (kVA)
expanding to 150 kVA
Target market: Latin America
Start of production: April 2016
„In the region – for the region“
Roberto Martinez (Managing Director
Wacker Neuson Máquinas Ltda. Brazil)
and Cem Peksaglam (CEO) cutting the
ribbon at the opening ceremony.
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Content
49
Fiscal 2015
Financial indicators
and share news
Technology and innovation
Q1 2016
Annual General Meeting
Vision – Strategy
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(Revenue in € million; EBIT Margin as a %)
Q1/16: Multi-year comparison (5 years)
50
Revenue and EBIT Margin Q1 (2012–2016)
Challenging start to the year, as expected
9.6%
4.3%
7.6%
9.8%
5.5%
+11% -2%
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31,734,0
15,5
22,4
17,3
9,8%8,9%
5,0%6,3%
5,5%
0,0%
2,0%
4,0%
6,0%
8,0%
10,0%
12,0%
14,0%
16,0%
18,0%
20,0%
0,0
5,0
10,0
15,0
20,0
25,0
30,0
35,0
40,0
Q1/15 Q2/15 Q3/15 Q4/15 Q1/16
EBIT EBIT margin
Q1/16: Development of profit since Q1/15
51
EBIT development Q1/15-Q1/16
(EBIT in € million; EBIT margin as a %)
Revenue in € million 324.3 382.1 311.0 357.9 316.4
ø EBIT margin: 5.7%
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Q1/16: Revenue growth by regions and divisons1
231,3 227,4
Q1/15 Q1/16
52
Europe2
-2% (-1%)
100,091,7
Q1/15 Q1/16
Light equipment3
-8% (-7%)
83,971,6
Q1/15 Q1/16
Americas2
-15% (-14%)
166,1 165,2
Q1/15 Q1/16
Compact equipment3
-1% (+0%)
9,1
17,4
Q1/15 Q1/16
Asia-Pacific2
+91% (+98%)
62,5 63,5
Q1/15 Q1/16
Services3
+2% (+3%)
1 In brackets: adjusted for currency effects; 2 Nominal, after cash discounts; 3 Nominal, before cash discounts
(€ million)
(€ million)
(€ million)
(€ million)
(€ million)
(€ million)
Weak demand from the energy and agricultural sectors impact revenue and earnings
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Construction and other industries
Agriculture
Services
Q1/16 Q1/15
65% 65%
15% 16%
20% 19%
Ag business (Weidemann, Kramer, Claas)
Q1/15 Q1/16
53
(in €m)
53.6
47.5
-11%
Revenue breakdown for Q1/16 Revenues1 Q1/16 vs. Q1/15
(% of revenue)
1 Nominal, before cash discounts
Continued downturn in Ag business
Q1/16 vs. Q1/15 -11%
Q4/15 vs. Q4/14 -9%
Q3/15 vs. Q3/14 -28%
2015 vs. 2014 -2%
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0
5
10
15
20
25
30
0,0
200,0
400,0
600,0
800,0
1.000,0
1.200,0
1.400,0
1.600,0
2015 2016e
(Revenue in € billion)
Revenue and margins 2015–2016e
1.38
+2% to +5%
EBIT Margin
7.5%
1.40–1.45
Cautious forecast for 2016
54
Europe
North America
Latin America
South Africa and Sub Sahara
Asia
Australia
Agriculture
Construction
Mining
Oil & Gas
Other channels
1
Forecasts for 2016
Trends partly moving in opposite directions, continued volatility
1 Strong increase, but from a low base
Revenue growth +2% to +5%, EBIT Margin 7.0% to 8.0%
Investments of ~ 100 m €, positive free cash flow
EBIT Margin
7-8%
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Content
55
Fiscal 2015
Financial indicators
and share news
Technology and innovation
Q1 2016
Annual General Meeting
Vision – Strategy
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Our “GIPI” vision
56
Our company is the result of mergers between various family-run enterprises each with a unique corporate culture.
We have set down our own values in writing and live by them. We actively integrate all of our companies into the Group and will continue to do so in the future.
Integration
We want to establish our company as a global player with a strong position in our target markets. To achieve this, we employ qualified people whose diverse cultural backgrounds are an invaluable asset to our company.
InternationalizationGrowthWe aim for profitable growth and healthy return on capital employed. We do not believe in revenue growth at any cost.
ProfessionalizationWe strive for excellence in everything we do.
Growth – Internationalization – Professionalization – Integration
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Increase revenue to over EUR 2 billion; high EBIT margin
Medium-term goal: > 2 bn. Euro revenue
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Alliance with HAMM AG proved successful
58
New tandem rollers (1.8 – 4.5 t) and compactors (weighing up to 12 t)
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Machines – New Branding
59
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Central logistics center for compact equipment spare parts/attachments/
accessories
Benefits of new logistics center in Nuremberg
From June 2016, all spare parts for compact equipment (Wacker Neuson, Kramer and
Weidemann) will be bundled and stored at a single logistics site in Nuremberg
New spare parts warehouse with cutting-edge storage technology over 10,000 m²
Collaboration with logistics specialist STUTE (Kühne + Nagel Group)
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Measures
Bundle demand and consolidate suppliers
Standardize/code packaging for all spare parts
Offer additional services
Alliances/partnerships to increase revenue and improve access to customers
Use e-store for direct customer orders
And more…
61
Aftermarket – spare parts and services
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Introduction of Wacker Neuson
62
More effective digital presence – covering the entire product portfolio
https://shop.wackerneuson.com/estore/
/For distribution partners, key accounts, etc. For B2B customers
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Content
63
Fiscal 2015
Financial indicators
and share news
Technology and innovation
Q1 2016
Annual General Meeting
Vision – Strategy
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2016 Annual General Meeting
Agenda item 1 Presentation of the Annual Financial Statements
Agenda item 2 Resolution on the appropriation of net profit for the year
Agenda item 3 Official approval of Executive Board actions
Agenda item 4 Official approval of Supervisory Board actions
Agenda item 5 Appointment of the auditors
Agenda item 6 Exemption from the obligation to publish remuneration details for individual
Executive Board members in the Annual and Consolidated Financial Statements
64
2016 AGM agenda
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Agenda item 2: Proposed dividend for AGM on May 31, 2016
20151 20141 2013 2012 2011
Total payout (€ million)
35.07 35.07 28.06 21.04 35.07
Payout ratio2 (as a %) 53.0 38.3 45.9 38.9 40.9
Eligible shares(in m)
70.14 70.14 70.14 70.14 70.14
Dividend per share (in €) 0.50 0.50 0.40 0.30 0.50
Earnings per share (in €) 0.94 1.30 0.87 0.77 1.22
65
1 Dividend payment to be proposed at the AGM on May 31, 2016
Dividend payouts 2011 – 2015
Maintaining stable dividends – even in a challenging fiscal year
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DisclaimerCautionary note regarding forward-looking statements
66
The information contained in this document has not been independently verified and no representation or warranty
expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or
correctness of this information or opinions contained herein.
Certain statements contained in this document may be statements of future expectations and other forward looking
statements that are based on management‘s current view and assumptions and involve known and unknown risks and
uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied
in such statements.
None of Wacker Neuson SE or any of its affiliates, advisors or representatives shall have any liability whatsoever (in
negligence or otherwise) for any loss howsoever arising from any use of this document or its content or otherwise arising
in connection with this document.
This document does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor any
part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.