Rosenbauer Group · 2016. 4. 8. · Company profile Leading ... The new PANTHER . E5000 ....
Transcript of Rosenbauer Group · 2016. 4. 8. · Company profile Leading ... The new PANTHER . E5000 ....
Rosenbauer Group Investors presentation
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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%
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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
Riyadh / Saudi Arabia
Jeddah / Saudi Arabia
KAEC / Saudi Arabia (until 2016)
Holmfirth / UK
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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
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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)
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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)
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The new developments
The new PANTHER
E5000
HEROS-titan
The new cage
BUFFALO extreme FOX S Commander
NAUTILUS 4/1 ECO
Financial data 3/2015
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Highlights
■ Global market volume still at high level ■ Developed markets showing positive signs again ■ Positive development anticipated in North America in 2015 ■ Central Europe still characterized by intense price competition ■ Strong need for safety products in the wake of disasters in emerging markets
■ Revenues up 12% at € 627.5 million ■ Increased deliveries to Arabic countries ■ Revenue growth of more than 30% in North America
■ EBIT down year-on-year at € 27.6 million ■ Additional expenses for launch of new products and appearance at trade fair ■ Postponed deliveries negatively impact earnings in Q3 ■ Higher location costs in Austria have negative impact on earnings ■ Positive impact on EBIT from higher EBIT of US companies
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Revenues and EBIT (in € million)
368.5
430.2
517.3 562.0
627.5
23.3 20.5
28.0 31.6
27.6
0
10
20
30
40
50
60
70
0
100
200
300
400
500
600
700
1-9/2011 1-9/2012 1-9/2013 1-9/2014 1-9/2015
RevenuesEBIT
6.3% 4.8% 5.4% EBIT margin 5.6% 4.4%
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Financial data Q1-Q3
in € million 1-9/2015 1-9/2014 in %
Revenues 627.5 562.0 +12%
EBIT 27.6 31.6 (13%)
EBIT margin 4.4% 5.6% -
EBT 26.4 30.5 (13%)
Net profit of the period 21.1 24.0 (12%)
Cash flow of operating activities (67.0) (115.0) -
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Balance sheet data Q3 (in Mio €)
in € million Sept 30, 2015 Dec 31, 2014 Sept 30, 2014
Total assets 647.0 579.9 587.4
Equity in % of total assets 32 .7% 34.2% 33.2%
Capital employed (ø) 460.6 341.2 352.9
ROCE 6.0% 14.2% 9.0%
ROE 12.9% 24.5% 16.0%
Net debt 253.9 154.2 199.0
Gearing ratio 119.9% 77.7% 102.2%
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Headcount (September 30)
1,017
1,100
1,183
1,291
1,385
516
604
651
701
736
498
558
571
644
647
81
91
176
262
299
30.09.2011
30.09.2012
30.09.2013
30.09.2014
30.09.2015
Austria USA Germany Rest of the world
3,067
2,898
2,581
2,353
2,112
► Additionally, Rosenbauer employs 213 leasing employees.
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Rosenbauer share 1-9/2015
1-9/2015 1-9/2014
Highest share price in € 85.0 70.1
Lowest share price in € 66.7 67.0
Closing price in € 72.3 70.0
Capitalization in € mill. 491.8 476.0
Sustainable solid dividend policy: • Dividend 1.2 € (2013: 1.2 €) • Dividend yield 1.7% (2013: 2.0%)
* Rosenbauer Beteiligungsverwaltung GmbH
BVG * 51%
Free float 45%
Investor FR 4%
50,0
60,0
70,0
80,0
90,0
Jan Feb Mrz Apr Mai Jun Jul Aug SepRosenbauer EURO ATXPrime indexed
Outlook
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Order intake / backlog Q3 (in € million)
Order intake Order backlog
456.1
400.6
599.6
632.3
698.6
1-9/2011
1-9/2012
1-9/2013
1-9/2014
1-9/2015
478.0
676.0
641.2
760.1
846.1
30.09.2011
30.09.2012
30.09.2013
30.09.2014
30.09.2015
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Outlook
■ Full order books allow for continued high level of revenues ■ Low oil price affects procurement behavior in the sector ■ Efficiency enhancement and cost reduction measures set to improve
earnings ■ Focus on the reduction of trade working capital
■ Sales growth on a sound financial basis in 2015 ■ Investments at a high level of over € 25 million due to modernization of Plant I,
expansion of US locations and construction of the production site in Saudi Arabia
■ Earnings for 2015 influenced by expenses for the launch of new products and the Group's appearance at the world's largest trade fair
■ Revenues expected to rise by 10%
■ EBIT margin of lower than 6% anticipated due to postponed deliveries
Thank you!
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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.