Analyst conference FY 2014/2015 Bertrandt AG

Transcription

1 Analyst conference FY 2014/2015 Bertrandt AG Frankfurt on Main, December 2015, Dietmar Bichler and Markus Ruf Bertrandt AG Analyst conference FY 2014/2015 0

2 Content 1. Framework FY 2014/ Key figures FY 2014/ Outlook FY 2015/2016 Bertrandt AG Analyst conference FY 2014/2015 1

4 Framework FY 2014/2015 Automotive industry Global earnings in the automotive industry in 2014 at all-time high R&D-budgets remain high Worldwide: EUR billion Germany: 34.0 EUR billion Persistent technical trends Variety of models & variants Environmentally friendly mobility Connectivity R&D-volume German automotive industry (EUR billion) Source: McKinsey VDA Bertrandt AG Analyst conference FY 2014/2015 3

5 Outsourcing in the automotive industry on a high level Global automotive R&D-value creation in car development in 2014: Value-flow OEM - Supplier Engineering service provider (EUR billion) 93.7 Gesamt R&D-value creation Outsourcing OEM to Supplier 61.5 Outsourcing to Engineering service providers 8.8 Own R&D-value creation 8.4 OEM Engineering EDL Supplier SL service provider Source: VDA & Berylls Bertrandt AG Analyst conference FY 2014/2015 4

6 Framework FY 2014/2015 Civil aviation and technological key sectors Civil aviation Focus on production optimization measures R&D-volume in Germany at 4.3 EUR billion Technological key sectors Mechanical engineering with moderate increase Electrical engineering remains on recovery path Medical technology market growing continuously Energy technology benefits from growing demand for environmentally friendly energy source Acquisition of new long-term framework agreements Bertrandt AG Analyst conference FY 2014/2015 5

8 Successful FY 2014/2015 Increased revenues High quality of profitability despite special aspects High illness rate due to influenza in Q2 Move to newly constructed office spaces Start-up phase at new testing sites Continued workforce expansion Record level of capital expenditure Equity base further strengthened Bertrandt AG Analyst conference FY 2014/2015 7

9 Revenues 1200 Revenues* (EUR million) GJ FY 10/11 GJ FY 11/12 GJ FY 12/13 GJ FY 13/14 GJ FY 14/15 *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/2015 8

10 Operating profit 120 Operating profit* (EUR million) EBIT- Margin* *Financial indicators refer to the Group GJ FY 10/11 FY GJ 11/12 GJ FY 12/13 GJ FY 13/14 FY GJ 14/ % 10.6% 10.4% 10.2% 9.8% Bertrandt AG Analyst conference FY 2014/2015 9

11 Segments Digital Engineering* (Revenues EUR million) Physical Engineering* (Revenues EUR million) Electric/Electronics* (Revenues EUR million) FY GJ 13/14 FY GJ 14/15 GJ FY 13/14 GJ FY 14/15 FY GJ 13/14 GJ FY 14/15 EBIT- Margin* 9.2% 8.6% 12.0% 11.8% 11.5% 11.3% *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/

12 Expenses Material expenses* (EUR million) Personnel expenses* EUR million) Depreciation* (EUR million) FY GJ 13/14 FY GJ 14/15 GJ FY 13/14 GJ FY 14/15 FY GJ 13/14 GJ FY 14/15 Expenditure ratio* 8.2% 9.4% 71.7% 70.6% 2.5% 2.7% *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/

13 Earnings after income tax Earnings after income tax* (EUR million) FY GJ 10/11 FY GJ 11/12 FY GJ 12/13 FY GJ 13/14 FY GJ 14/15 *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/

14 Equity 350 Equity* (EUR million) Equity ratio* FY GJ 10/11 FY GJ 11/12 GJ FY 12/13 FY GJ 13/14 GJ FY 14/ % 56.3% 58.5% 59.4% 56.9% *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/

15 Net finance income 1,0 1.0 Net finance income* (EUR million) , , GJ FY 10/11 GJ FY 11/12 GJ FY 12/13 GJ FY 13/14 GJ FY 14/15 *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/

16 Cash flow from operating activities 90 Cash flow from operating activities* (EUR million) GJ FY 10/11 GJ FY 11/12 GJ FY 12/13 FY GJ 13/14 GJ FY 14/15 *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/

17 Capital spending 100 Capital spending* (EUR million) FY GJ 10/11 FY GJ 11/12 GJ FY 12/13 FY GJ 13/14 GJ FY 14/15 *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/

18 Free cash flow Free cash flow* (EUR million) GJ FY 10/11 FY GJ 11/12 FY GJ 12/13 FY GJ 13/14 FY GJ 14/15 *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/

19 Employees Employees* ,603 9,952 10,829 11,561 12, FY GJ 10/11 FY GJ 11/12 FY GJ 12/13 FY GJ 13/14 FY GJ 14/15 *Financial indicators refer to the Group Bertrandt AG Analyst conference FY 2014/

20 Dividend 3 Dividend (in EUR) * 1 0 GJ FY 10/11 GJ FY 11/12 GJ FY 12/13 GJ FY 13/14 GJ FY 14/15 *Dividend proposed by the Management and the Supervisory Board Bertrandt AG Analyst conference FY 2014/

21 Content 1. Framework FY 2014/ Key figures FY 2014/ Outlook FY 2015/2016 Bertrandt AG Analyst conference FY 2014/

22 Outlook FY 2015/2016 Automotive industry Important market trends intact Variety of models & variants Environmentally friendly mobility Connectivity Outsourcing Civil aviation Increasing deliveries ahead Adapting existing models to meet new requirements Technological key sectors Worldwide demand for German technology Industry 4.0 Low exchange rate of the Euro strengthens export Bertrandt AG Analyst conference FY 2014/

23 Model diversity increases Automotive 38 new models without predecessor Source: : Internal calculation Series including derivatives (Station Wagon, Coupe etc.), no facelifts, no special variants (AMG GmbH/M-GmbH/quattro GmbH) Bertrandt AG Analyst conference FY 2014/

24 115,3 121,2 115,7 111,1 114,9 109,5 121,8 121,3 134,4 128,6 129,1 136,9 131,6 140,9 136,6 136,3 133,5 128,9 123,1 129,2 147,9 147,8 142,5 163,3 Environmentally friendly mobility driven by regulations Automotive Average emission of CO 2 (in g/km) Prognose EURO-7 CO2 target until 2020 (95g/km) BMW Daimler Ford PSA Renault VW-Gruppe Source: PA-Consulting Group Bertrandt AG Analyst conference FY 2014/

25 Connectivity becoming a standard feature for newly-registered passenger vehicles in Europe until 2020 Automotive New registrated passenger cars in Europe (million units) % 22 26% 23 13% 24 Total number of new registrated passenger cars in Europe Cars without telematics as standard (in percentage of new registrations) 15 53% 10 66% 87% 100% Cars with telematics as standard (in percentage of new registrations) 74% 5 34% 47% 61% Source: Bain-Analysis in Automobilwoche (Edition ) Bertrandt AG Analyst conference FY 2014/

26 Connectivity affects all car components Automotive Share of value added per component in the medium segment (in percent) Interior 14% Others 7% Powertrain Chassis 14% 42% 35% 50% 23% Exterior Total share of digital components Source: VDA & Berylls Bertrandt AG Analyst conference FY 2014/

27 Outsourcing increases in all diciplines Automotive Global market volume for engineering services per technical discipline (EUR billion) Chassis Interior CAGR 1,5% 4,9% ,3 1.8 Exterior Electrics/Electronics 2,6% 8,8% Complete vehicle 5,3% Powertrain 6,7% ,8% Source: VDA & Berylls Bertrandt AG Analyst conference FY 2014/

28 Development mainly done in Germany also in future Automotive Global market volume for engineering services per region (EUR billion) NAFTA CAGR 4,8% Europe excl. Germany Rest of world 3,6% 4,1% 6 3 China 12,4% Germany 4,4% ,8% Source: VDA & Berylls Bertrandt AG Analyst conference FY 2014/

29 Civil aviation increasing production Civil aviation Civil planes in duty 38,500 19,500 Growth Demand for 32,600 new aircraft 19,000 13,100 Replaced 5,900 Stay in service and converted Source: Airbus Global Market Forecast 2015 to 2034 Passagierflugzeuge über 100 Sitzplätze und Frachtflugzeuge über 10t Kapazität Bertrandt AG Analyst conference FY 2014/

30 Technological key sectors with positive outlook Industry Cross-industry trend Industry 4.0 Combining production with communication and information technology Establishing optimized value creation chains Mechanical engineering Consistent high level expected in 2016 Electrical engineering Expected market growth of 5% in 2016 Medical technology Average growth 3,8% p.a. until 2018 Energy technology Global market growth above 5% in 2016 forecasted Source: VDMA, ZVEI, SPECTARIS Bertrandt AG Analyst conference FY 2014/

31 Summary Outlook FY 2015/2016 Attractive prospects in 2016 Continuing expansion of infrastructure, capex at a sustained high level Assuming that underlying economic conditions do not deteriorate, that OEMs invest on a sustained basis in R&D for new technologies and models, that engineering work continues to be contracted out and that qualified staff is available, Bertrandt essentially expects its revenues and operating profit to keep rising in fiscal 2015/2016 similar to the two preceding years The management assumes that the market continues to offer real business opportunities and sees therefore potential for short and medium-term growth of revenues of seven to ten percent and an operating profit of between eight and 10.5 percent as a percentage of revenue per year Bertrandt AG Analyst conference FY 2014/

32 Thank you. We look forward to your questions! Bertrandt AG Analyst conference FY 2014/

33 Legal notice This presentation contains inter alia certain foresighted statements about future developments, which are based on current estimates of management. Such statements are subjected to certain risks and uncertainties. If one of these factors of uncertainty or other imponderables should occur or the underlying accepted statements proved to be incorrect, the actual results could deviate substantially from or implicitly from the expressed results specified in these statements We have neither the intention nor do we accept the obligation of updating foresighted statements constantly since these proceed exclusively from the circumstances on the day of their publication. As far as this presentation refers to statements of third parties, in particular analyst estimations, the organization neither adopts these, nor are these rated or commented thereby in other ways, nor is the claim laid to completeness in this respect. Bertrandt AG Analyst conference FY 2014/