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Standard Presentation – BAUER AG Group Presentation 6M/Q2 2020 Investor Relations August 13, 2020 Highlights 6M 2020 Total Group revenues Sales revenues EBITDA EBIT Earnings after tax EUR 725 million EUR 649 million EUR 58.0 million EUR 6.5 million EUR -16.0 million (-12.8%) (-13.0%) (-29.7%) (-81.5%) (6M 20: EUR -0.4 million) Order intake Order backlog Total assets Net debt Equity ratio EUR 973 million EUR 1,276 million EUR 1,656 million EUR 613 million 22.2% (+16.2%) (+25.1%) (-4.5%) (-5.3%) (6M 20: 24.3%) . Total Group revenues decreased significantly by 12.8%, from EUR 831.6 million to EUR 725.0 million. EBIT fell significantly from EUR 35.3 million in the previous year to EUR 6.5 million. Earnings after tax amounted to EUR -16.0 million (previous year: EUR -0.4 million). In addition to the losses in the Construction and Equipment segments, interest rate hedging transactions had a significant negative impact. The Construction segment and, in particular, the Equipment segment fell significantly short of the original expectations, which can primarily be attributed to the effects of the coronavirus pandemic. The Resources segment remained nearly unaffected and demonstrates a better development than the previous year in operational terms. The order backlog increased very significantly by 25.1% to EUR 1,275.7. This was primarily attributable to Construction, where very large order volumes were commissioned, including in Europe. The impact of the pandemic on further construction activities around the world and on customer demand for equipment, and thus ultimately on the revenue and earnings development, still cannot be predicted reliably. Therefore, it is still not possible for the Management Board to provide a specific new forecast for the 2020 financial year. 2 Key Figures 6M 2020 in EUR million 6M 2019 6M 2020 ∆ 6M in % Total Group revenues 831.6 725.0 -12.8% Construction* 323.0 321.5 -0.5% Equipment 380.8 296.9 -22.0% Resources* 158.0 142.5 -9.8% Other/Consolidation -30.2 -35.9 n/a Sales revenues 745.4 648.5 -13.0% Order intake 837.6 973.1 +16.2% Order backlog 1,019.6 1,275.7 +25.1% EBITDA 82.5 58.0 -29.7% EBIT 35.3 6.5 -81.5% EBIT margin (in % of sales revenues) 4.7 1.0 n/a Earnings after tax -0.4 -16.0 n/a Earnings per share (in EUR) -0.12 -0.96 n/a Total assets 1,733.3 1,655.5 -4.5% Equity 420.8 366.8 -12.8% Equity ratio (in %) 24.3 22.2 n/a Employees (average over the year) 11,620 11,547 -0.6% * Previous year adjusted; see p. 14 in the half-year interim report 2020 3 BAUER Group Mission & Strategy Mission EUR 1.6 billion The BAUER Group is a leading provider of services, equipment & products dealing with total Group revenues ground and groundwater. EUR 22.5 million EBIT Strategy 11,684 employees 1.5% . The world is our market. EBIT margin . Global network organization with flexible, decentralized management. 23.8% . Three forward-looking segments providing high level of synergies: equity ratio Construction, Equipment, Resources FY 2019 . World market leadership for specialist foundation technology. Powerful development of drilling applications and services for related markets. Highly innovative products and services related to water, environment and natural resources. Pioneer in digitization for specialist foundation engineering Key targets . Revenue growth: 3 - 8% per year . EBIT margin 7 - 9% . Equity ratio: > 30% 4 BAUER Group Longstanding healthy business development Total Group revenues Total 1,595 in EUR million (segment after deducting Other/Consolidation) 1,800 1,600 Resources 269 1,400 1,200 Equipment 1,000 673 800 600 Construction Overseas 433 400 200 Construction Domestic 220 0 1980 1984 1988 1992 1996 2000 2004 2008 2012 2016 2019 Note: from 2003 based on IFRS figures; segment figures after deducting Other/Consolidation 5 BAUER Group Longstanding healthy business development Total Group revenues in EUR million 2,000 1,772 1,656 1,686 1,527 1,504 1,560 1,555 1,595 1,600 1,372 1,436 1,208 1,278 1,304 1,200 980 800 400 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Sales revenues in EUR million 2,000 1,668 1,589 1,600 1,402 1,471 1,291 1,344 1,376 1,379 1,397 1,132 1,220 1,200 1,033 1,097 835 800 Sales 400 Endwert 0 Jahre 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 CAGR 6 Worldwide network More than 110 subsidiaries in about 70 countries Permanent Offices: Construction Equipment sales Resources Equipment production Conroe Schrobenhausen Tianjin Kuala Lumpur 7 BAUER Group Construction market environment vs. order backlog Europe USA / Canada Germany o Market: Western European countries affected by Market: significantly affected Market: still a good market, o o coronavirus; slow development by the coronavirus; strong first signs of weakening; in Eastern Europe; Russia very demand for infrastructure in Bauer: reasonable order weak the USA o situation Bauer: Good order situation, Bauer: high order backlog with + + primarily due to major projects Far East public projects in the USA o Market: regional market Middle East & Central Asia environment strongly affected by coronavirus; strong demand for - Market: significant negative infrastructure in Philippines and influences due to ongoing conflicts, Thailand, good demand in China low oil price and coronavirus. (equipment) o Bauer: reasonable order backlog in o Bauer: Weak order situation in Latin America the UAE and Qatar; major project in Africa Malaysia and Vietnam; awaiting Jordan has been expanded, projects awards in Thailand and Market: isolated larger projects - ongoing large projects in o Market: few projects in some Philippines, equipment demand in - Bauer: low order backlog Bangladesh and Bhutan countries, Egypt still growing China is good o Bauer: focus only on single projects -- weak - slightly weak o stable + growing ++ strong growth 8 Regional breakdown Total Group revenues 6M 2020 – Group Total 725 in EUR million Germany 235 (32%) Africa 34 (5%) Americas 111 (15%) Full year 2019 Total 1,595 Africa 80 (5%) in EUR million Americas 192 Germany (12%) 519 (33%) Asia-Pacific, Far East & Australia 266 (17%) Middle East & Asia-Pacific, Central Asia EU excl. Germany Europe (other) 208 (13%) Far East & Australia 259 (16%) 71 (4%) 114 (16%) Europe (other) EU excl. Germany 42 (6%) 81 (11%) Middle East & Central Asia 108 (15%) 9 Regional breakdown Total Group revenues 6M 2020 – Segments Construction segment Equipment segment Resources segment Total 323* Total 269 Total 133* in Mio. EUR Germany 85 (26%) Germany 51 (19%) Germany 97 (73%) Africa 26 (8%) Africa 4 (2%) Africa 5 (4%) Americas 3 (2%) Americas 67 (25%) Asia-Pacific, Far East & Americas 41 (14%) Australia 1 (1%) Middle East & Central Asia 18 (13%) Europe (other) 1 (1%) Asia-Pacific, Far East & Australia Europe (other) EU excl. 49 (15%) 11 (3%) Europe Asia-Pacific, Germany EU excl. (other) Far East & Australia 8 (6%) Germany 30 (11%) 65 (24%) 32 (10%) EU excl. Middle East & Central Asia Middle East & Central Asia Germany 11 (4%) 79 (24%) 41 (15%) Figures after deducting Other/Consolidation * Previous year adjusted; see p. 14 in the half-year interim report 2020 10 Financials Revenues, earnings & order development – Group Revenues Earnings in EUR million Total Group revenues Sales revenues in EUR million EBIT Earnings after tax 125 2,000 1,772 1,686 ∆ 6M ∆ 6M 1,668 1,589 1,595 89.6 100.1 1,600 1,471 -12.8% 100 -81.5% -13.0% 75 n/a 1,200 832 745 725 50 35.3 800 649 24.1 25 22.5 3.7 -0.4 6.5 400 0 -16.0 0 -25 2017 2018 2019 6M 2019 6M 2020 2017 2018 2019 6M 2019 6M 2020 -50 -36.6 Order backlog Order intake in EUR million in EUR million 1,741 1,722 1,500 +25.1% 1,276 1,609 411 394 1,200 978 1,014 1,028 1,020 321 396 900 422 450 +16.2% 600 455 518 454 386 300 379 429 420 455 0 2017 2018 2019 6M 2019 6M 2020 2017 2018 2019 2020 11 Financials Construction segment – 6M 2020 Highlights Mission . The earnings figures reflect the effects of the coronavirus pandemic as well as the . Global provider for specialist negative market valuation of interest rate hedging transactions. A positive earnings foundation engineering services contribution of around EUR 8 million from the deconsolidation of the subsidiary in Hong . Focus on complex, international projects Kong is also included. Order backlog saw a significant increase. The primary reason for this was mainly a very large order in Europe. The order book lasts for 14.7 months. ~ 50/50 infrastructure / industrial . The segment was significantly affected by the consequences of the coronavirus pandemic. In many countries, temporary curfews and travel restrictions complicated logistics and supply at construction sites in terms of equipment, materials and personnel. Financial targets The required equipment or expert teams were only able to access the relevant Full year 2019: construction sites with delays or sometimes they were unable to access them at all. 41% of total Group revenues . Whilst most countries demonstrated improvements towards the end of the second . EBIT margin: -3.2% quarter, we will have to deal with these issues throughout the whole year. Key targets: Key Figures . ~ 40% of total Group revenues (TGR) . EBIT margin: 4 - 6% in EUR million 6M 2019* 6M 2020 ∆ 6M in % Total Group revenues 323.0 321.5 -0.5% Key figures to be considered: .
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