Bilfinger Se · XETR:GBF
Bilfinger — Berenberg European Conference 2014
20 slides from Bilfinger's conference presentation, Dec 4, 2014
Slide 1: Bilfinger SE Company Presentation
December 04, 2014 Bilfinger SE Company Presentation Berenberg European Conference 2014, Pennyhill Park, London Herbert Bodner, CEO Bettina Schneider, Deputy Head IR
Slide 2: Agenda
Agenda 1. Bilfinger at a glance 2. Key points of midterm corporate development 3. Facts and figures 9m 2014 Bilfinger SE Company Presentation | December 04, 2014 page 2
Slide 3: 2014: A difficult year for Bilfinger
2014: A difficult year for Bilfinger ▪ Building and Facility: Positive business development ▪ Industrial: Demanding environment ▪ Power: Difficult market environment due to structural problems ▪ Earnings expectations significantly lowered in the course of the year ▪ Changes in Executive Board ▪ Chan
Slide 4: Successful evolution into a leading international engineering and services group
Successful evolution into a leading international engineering and services group Segment Industrial Power Building and Facility Focus Process Industry Utilities Real Estate Output volume 2014e Nearly € 3.7 bn (47%) Approx. € 1.5 bn (19%) Nearly € 2.7 bn (34%) Divisions Industrial Maintenance Power S
Slide 5: Broadening international footprint
Broadening international footprint Organic and external growth strategy to further strengthen non-European business Output volume by region 4% 3% Asia Africa 12% America 37% Germany 2014e: ~7.7bn EUR 44% Rest of Europe Bilfinger SE Company Presentation | December 04, 2014 page 5
Slide 6: Bilfinger business model supported by favorable long-term industry trends
Bilfinger business model supported by favorable long-term industry trends Positive structural trends Risk diversification Strong market positions ▪ Outsourcing Broad customer range Industrial: ▪ Service bundling Mostly small project sizes European market leader in Industrial Growing regional diversi
Slide 7: Agenda
Agenda 1. Bilfinger at a glance 2. Key points of midterm corporate development 3. Facts and figures 9m 2014 Bilfinger SE Company Presentation | December 04, 2014 page 7
Slide 8: Key points of midterm corporate development
Key points of midterm corporate development Evolution into a services group largely completed Improving the Group’s operating performance ▪ Measures taken to improve the Group’s operating performance are of key importance ▪ Measures apply above all to Power, which requires a fundamental realignment
Slide 9: Industrial Prospects
Industrial Prospects ▪ Expansion of higher-margin and integrated service offerings ▪ Growth in core markets through the consistent utilization of existing client potential ▪ Cost savings following the merger of operating units ▪ Geographic focusing, expansion in selected foreign markets, for example
Slide 10: Power Prospects
Power Prospects ▪ Concentration on improving operating performance ▪ South Africa: focus on services and modernization projects ▪ India: focus on component production ▪ Further internationalization, in particular into markets with a high share of coal in the energy mix Bilfinger SE Company Presentat
Slide 11: Building and Facility Prospects
Building and Facility Prospects • ▪ Taking advantage of the outsourcing trend for real-estate services • Expansion of business with premium services, for example real-estate valuation or transaction consulting • Increased management of international real-estate portfolios in Europe • Further expansi
Slide 12: Agenda
Agenda 1. Bilfinger at a glance 2. Key points of midterm corporate development 3. Facts and figures 9m 2014 Bilfinger SE Company Presentation | December 04, 2014 page 12
Slide 13: 9m 2014: Highlights
9m 2014: Highlights Stable output volume; lower EBITA, as expected Goodwill impairments lead to net loss Orders received impacted by difficult market environment Despite loss from continuing operations, operating cash flow slightly improved due to more favorable working capital development Outlook f
Slide 14: Stable output volume
Stable output volume Orders received decreased due to developments in Power and Industrial Output volume Orders received Order backlog 0% -9% -5% 6.423 6.133 5.616 5.631 5.600 5.123 9m 2013 9m 2014 9m 2013 9m 2014 Sept. 2013 Sept. 2014 in € million in € million in € million Bilfinger SE Company Pres
Slide 15: Earnings significantly below prior-year period
Earnings significantly below prior-year period Operating cash flow slightly improved due to more favorable working capital development Adjusted EBITA Adjusted net profit Operating cash flow -39% -34% +6% 264 9m 2013 9m 2014 157 161 103 -77 9m 2013 9m 2014 9m 2013 9m 2014 -82 in € million in € millio
Slide 16: Industrial: EBITA below prior-year level
Industrial EBITA below prior-year level Markets and highlights Output volume by region 2% ▪ Output volume slightly below prior-year level Asia ▪ EBITA margin decreased to 4.7% (9m 2013: 5.3%) 18% America 21% ▪ Orders received decreased by 16%, also due to one-time Germany adjustments in the backlog
Slide 17: Power: Market environment requires fundamental reassessment of situation
Power Market environment requires fundamental reassessment of situation Markets and highlights Output volume by region 12% ▪ Output volume declined significantly Africa ▪ EBITA was negative at minus €2 million due to lack of capacity utilization in several areas, above all in high-pressure piping, a
Slide 18: Building and Facility: Continuation of positive business development
Building and Facility Continuation of positive business development Output volume by region Markets and highlights ▪ Increase in output volume and EBITA 2% Asia ▪ Order development in Facility Services and Real Estate was positive, orders received in Building declined due to the typical 9% America v
Slide 19: Outlook for FY 2014
Outlook for FY 2014 Output volume for the Group will be within the scope of our previous forecast (€7.7 billion) Adjusted EBITA of at least €270 million (FY 2013: €419 million) Adjusted net profit from continuing operations of at least €160 million (FY 2013: €255 million) Net profit will also be imp
Slide 20: Bilfinger SE Company Presentation
December 04, 2014 Bilfinger SE Company Presentation Berenberg European Conference 2014, Pennyhill Park, London Herbert Bodner, CEO Bettina Schneider, Deputy Head IR