Rosenbauer Group. Presentation on the 2013 financial year

Transcription

1 Rosenbauer Group Presentation on the 2013 financial year

2 Highlights 2013 Exceptionally good figures for revenues, earnings and new orders Despite challenging market environment - revenues up by over 14% to million Growth resulting form increased export business specially from Middle East Positive trend in the markets to Northern Europe and North America EBIT, including one-off effect, raised to 42.3 million Expenditure of 4.5 million for damages settlement in connection with the antitrust case in Germany Without the one-off effects, EBIT margin is 6.3% EBIT also affected by the fiercer price competition and by start-up costs for the service organization in Saudi Arabia Order trend still at a high level Demand for ARFF vehicles in 2013 high best-ever order intake in this field Page 2

3 Developments in the fire fighting sector Worldwide market volume up by 10% Developed markets have now bottomed out first positive signs once again High awareness of security needs after disasters and in emerging countries North America After years of contraction, a perceptible recovery is now evident Positive trend may be expected to continue Europe Germany: Market characterized by intensive price competition volumes at same level as in recent years Austria: market volume above previous years level Asia Brisk demand in India and China Middle East Investment activity still at a high level, owing to security concerns and high natural-resource revenues Page 3

4 Investments in the future New Plant II in Leonding (A) Lease of an additional facility enlarges existing production space by 60% The airport vehicle PANTHER and the municipal vehicle AT will be produced Put into service at the beginning of April Plant I in Leonding (A) International Customer Service enlarged Production facility Neidling (A) Plant I Leonding New 5,400 m² building for component fabrication and profile machining High-bay pallet racking system, automated long-goods vertical storage system and additional office space Production facility Luckenwalde (GER) Production area enlarged Plant II Leonding Page 4

5 Stepped-up presence in Saudi Arabia New subsidiary Rosenbauer Saudi Arabia established HQ in Riyadh, branch operations in the Dammam region and in Jeddah Service and training centers for vehicle maintenance and training Mobile after-sales service technicians in action nationwide Final assembly of vehicles bound for the local market More than 3,000 Rosenbauer vehicles in service 2013 revenues: 4.2 million / employs around 50 staff (including leased personnel) / ~ 50 Mitarbeiter (inkl. Leasing) Umsatz im Jahr 2013: 4,2 Mio Page 5

6 Production facilities and sales companies Karlsruhe / Germany Luckenwalde / Germany Oberglatt / Switzerland Chambery / France Leonding / Austria Traun / Austria Neidling / Austria Radgona / Slovenia Moscow / Russia Madrid / Spain Linares / Spain Singapore Rosenbauer America Brunei Lyons / SD Fremont / NB Wyoming / MN Dammam / Saudi Arabia Riyadh / Saudi Arabia Jeddah / Saudi Arabia Halfway House / South Africa Production Sales/Service Page 6

7 Pioneer in integrating new emissions standards PANTHER series with new Euro 5 engine The new Volvo engine will be employed for the entire PANTHER series 700 hp powertrain from Volvo Penta Offroad, industrial diesel engines for ARFFs First PANTHERS with environmentfriendly engines for: Bremen, Linz, Lyon Rosenbauer unveils first Euro 6 vehicle HLF 20 on MAN TGM with new Euro 6 technology Developed in close co-operation with the truck manufacturer PANTHER 8x8 Airport Bremen Page 7

8 PANTHER S 6x6 Enlargement of the PANTHER series With a 2.5m-wide vehicle lighter, more compact and slimmer High-end extinguishing systems Tailor-made for regional airports, suitable for public roads 700hp engine (Euro 5) from Volvo with Allison twin-disc gearbox Top speed of around 120km/h Extinguishing agent: up to l water, 1,200l foam and 250kg powder PANTHER S Airport Lyon Page 8

9 New Aerials Metz XS and XF More advanced version of L32A, with lowerable cage boom New articulated boom opens up new dimension of maneuverability and flexibility Can be lifted steplessly into the vertical along the facade of a building, even in confined spaces The 450 kg rescue cage can be set down directly from the driver s cab XF version with ultraflat podium Reduces overall height of vehicle Ideal for low drive-through openings and portals Page 9

10 Research & Development (in million) Strong development work Capitalization rate 18.3% 16 4,0% ,5% % 3,0% 4 2.5% 2.3% 2.6% 2.3% 2,5% 2.1% ,0% R&D R&D ratio Page 10

11 Segments by regions 1* in million Austria USA Germany Rest of Europe Asia * The reports on the regional segments are broken down by Group company location rather than by sales market. Page 11

12 Segment reporting by regions 2 Austria 52% of Group revenues generated by exports from Austria Revenues up 13% on increased shipments to Arab world USA Revenues up 19% on back of higher exports Result improved by optimizations in the chassis-production operations Germany Higher shipments of turntable ladders, and brisker equipment business EBIT affected by one-off outlays for ongoing damages settlement Consolidated for first time: service center opened in Chambéry, France Page 12

13 Segment reporting by regions 3 Rest of Europe Spain: Revenues almost tripled due to increased export sales Switzerland: at same level as previous year Slovenia: part of the Group since December 2012 Asia Singapore and Brunei: shipments to Hong Kong, Singapore and neighboring countries Saudi Arabia: established in 2013, with facilities in Riyadh, Jeddah and the Dammam region Page 13

14 Financial data

15 Group revenues and EBIT(in million) Revenues EBIT Adj. EBIT EBIT margin 4.6% 6.1% 6.8% 7.2% 8.0% 5.4% 8.3% 7.7% 6.0% 5.7% EBIT margin adj. 4.6% 6.1% 6.8% 7.2% 8.0% 8.2% 7.8% 7.7% 7.2% 6.3% Page 15

16 Financial data In million in % Revenues % EBIT % EBIT margin 5.7% 6.0% - EBT % Net profit of the period (4%) Cash flow from operating activities 82.2 (3.7) - Page 16

17 Breakdown of revenues 2013 Shipments to 114 countries (2012: 123 countries) Revenues in Austria 7% Others 7% Foreign subsidiaries 41% Arab world 30% Europe 39% Export from Austria 52% Asia/ Oceania 10% NAFTA 14% Page 17

18 Breakdown of revenues 2013 Aerials 10% Equipment 11% Components 3% Customer services/ Others 5% Business developm. 1% Vehicles 70% ARFF vehicles 16% Industrial vehicles 6% Municipal vehicles 78% Page 18

19 Balance sheet data in million Total assets Equity in % of total assets 45.2% 38.8% 40.1% Capital employed (average) ROCE 14.8% 14.5% 19.5% ROE 23.4% 24.9% 29.6% Net debt Gearing ratio 25.9% 55.7% 42.4% Page 19

20 Balance-sheet structure (in million) Assets Equity Inventories Interest-bearing liabilities Production contracts Provisions Receivables and other assets Liabilities and other debts ASSETS EQUITY AND LIABILTIES Page 20

21 Solid financing (in million) Improved working capital through optimization of inventories and client receivables % % % % % % 80% 60% 40% 20% Net debt Equity Gearing ratio 0% Page 21

22 Investments and Depreciation (in million) Increasing capital investments in production capacity Investments Depreciation Page 22

23 Rosenbauer share 2013 (per year end) Highest share price in Investor FR 5% Lowest share price in Closing price in Capitalization in mill BVG * 51% 60,0 Free float 44% 55,0 50,0 45,0 * Rosenbauer Beteiligungsverwaltung GmbH 40,0 Jan Feb Mrz Apr Mai Jun Jul Aug Sep Okt Nov Dez Rosenbauer EURO ATXPrime indexed/indiziert Page 23

24 Number of employees Additionally, Rosenbauer employs 254 Leasing employees , , , , , , , ,946 Austria USA Germany Rest of the world Page 24

25 Outlook

26 Order intake / backlog (in ) Order intake Order backlog as at / / / / / Page 26

27 Outlook Steady development expected in fire equipment sector Europe at multi-year average level, but with intense price competition Continued recovery in US market Good outlook for international project business Boosting technological leadership Knowledge management works as a think-tank to monitor future trends Preparations for Interschutz 2015 fire equipment tradeshow are in top gear Full order books assure good capacity utilization Consolidation after record year Revenues at same high level as last year s, possibly even with moderate increase Focus on improving earnings quality (EBIT margin 6 7 %) and working capital Page 27

28 Thank you! Rosenbauer International AG 4060 Leonding, Paschinger Str. 90, Austria Phone: , Fax:

29 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. Page 29