The Company Design Build Service 2014/15
2 Financial Report 2014/15 Financial Report 2014/15 3 The forty-sixth financial year began on 1 April 2014 and ended on 31 March 2015. 429 buildings 1,881 (million euros) total turnover 3,744 (annual average) employees
4 Summary Statement Business Performance 5 Our financial year Summary statement Business performance successfully closed the 2014 /15 financial year with record highs in new orders, total turnover and pre-tax earnings. The current 2015 / 16 financial year started out for with a high volume of orders in hand and a very gratifying level of new orders. The Group can look back on a very successful 2014/15 financial year. Record highs were achieved in new orders, total turnover and pre-tax earnings. Internal forecasts of increased total turnover and earnings over the previous year were thus surpassed. This has been against the background of a recovery both in the general economy and in the construction industry in the serviced European markets. was not only able to hold its own in terms of existing market share but was also able to grow at a disproportionate its rate, thanks to the company s extensive sales organisation as well as its precisely defined and progressively developed products. The company started out the current 2015/16 financial year with a high volume of orders in hand and a very gratifying level of new orders. Unless the overall economic situation in the serviced markets deteriorates dramatically due to external factors, the company expects to be able to further increase its total turnover and earnings once again. Compensatory measures were introduced to deal with occasional capacity bottlenecks in production. The stable assets and financial situation of the Group continues to contribute substantially to its independence and future-proofing. With a more positive outlook for both the economy as a whole and the construction industry than in the previous year, the Group also continued to develop successfully in the serviced markets. The company was able to benefit from positive developments in the logistics and warehouse segment, among others, by focusing clearly on system-based products. New orders grew once more by 379 million and for the first time exceeded two billion euros. This is a record high in the company s history. is the universal market leader in many countries in the areas of logistics halls and car parks. The Group s total turnover increased by 19.6 % to 1,881 million on the back of this business development, representing another record high in the company s history. New orders and total turnover Figures in EUR millions 2014/15 2013/14 2012/13 2011/12 2010/11 New orders 2,074 1,695 1,433 1,393 1,091 Total turnover 1,881 1,573 1,346 1,292 1,093 remains the market leader in a number of countries in the areas of logistics halls and car parks. Total turnover in EUR millions 2,000 1,800 1,600 1,400 s regional companies in Germany were able to benefit from the developing upturn in the commercial construction market and successfully managed to further enhance their market position. Consolidated total turnover increased by 14.1 % and contributed significantly to the growth. All German regional companies had exceeded their new orders targets at the close of the 2014/15 financial year and generated around 1.6 billion in new orders. 1,200 1,000 800 600 400 With the overall economic and construction environment in Europe looking much more favourable compared with the previous year, International GmbH and its subsidiaries were able to maintain their leading position in industrial and logistics construction in the Eastern European markets. Consolidated total turnover increased by 84 million to 247 million, with 117.5 million of this attributed to Poland the most successful area in the international market. This was possible thanks to a balanced order structure consisting of projects for project developers on one hand and small and medium -sized customers on the other hand. International GmbH and its subsidiaries were able to retain their leading position in industrial and logistics con struction in the Eastern European markets 200 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015
6 Business Performance Business Performance 7 Business Performance Through its integrated consultancy service, Gebäudemanagement GmbH secures the long-term sustainability of real estate and thereby enables clients to focus on their respective core business. The shareholding in ProCenter Immobilien-, Management- und Center- Verwaltungs-GmbH, Berlin, was further increased as planned during the past financial year. The consolidated total turnover for the business division increased by a gratifying 18 % to its present level of 43 million. Group remains well equipped for the future thanks to a product portfolio based on construction systems. The gratifying growth achieved also led to the creation of new jobs in the past financial year. The long-term trends are highlighted in the following multi-year comparison, which shows the average number of employees in the Group. The gratifying growth achieved by also led to the creation of further new jobs in the past financial year. Bauen im Bestand GmbH continued its development activities of previous years. The consolidated total turnover amounted to 24 million in the past financial year compared with 22 million the previous year. Furthermore, construction services of around 11 million were delivered for affiliated companies. Public Partner GmbH continued to develop positively. Positive value contributions were generated from the operation of previously acquired projects. Three projects with a construction output value of around 29 million were successfully handed over to clients in the year under review, together with the subsidiaries for turnkey construction. Average number of employees 2014/15 n n n n n n n n n n n n n n 3,744 2013/14 n n n n n n n n n n n n n 3,394 2012/13 n n n n n n n n n n n n n 3,154 2011/12 n n n n n n n n n n n n 2,969 2010/11 n n n n n n n n n n 2,462 Overall experienced an encouragingly positive result in the past financial year together with the subsidiaries in Germany and internationally. The 2014/15 financial year for Solar GmbH was again characterised by very different markets. While restraint was still palpable among customers in Germany, the company continued to perform successfully in Great Britain. The financial solidity of in the framework of acquisition and project execution was helpful in this respect. Overall, Solar realised a consolidated total turnover of around 141 million domestically and internationally in the past financial year and thereby achieved an extremely positive result. The occupancy rates of Immobilien GmbH and its affiliated subsidiaries remain stable with positive operational results being generated. In-house production capacities were utilised very efficiently in general in the past financial year, due to the number of new orders received. Short-term order peaks were successfully managed by employ ing temporary workers and through subcontracting. The trends illustrated for the individual sectors show that succeeded once again in the 2014/15 financial year in holding its own in the serviced markets and further expanding previously established positions. A positive result was successfully generated overall. The Employee trends 3,800 3,600 3,400 3,200 2,800 2,400 2,000 1,600 1,200 800 400 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015
8 Asset situation Opportunities and outlook 9 Asset situation Opportunities and outlook The development of important key figures in relation to the asset and financial situation can be depicted as follows in comparison with previous years: remains well positioned for the coming year in the serviced markets for turnkey construction. As a privately owned, medium- sized company, our goal is to achieve further growth, above and beyond the overall economic trend. continues to be very solidly financed, which will guarantee stability for the company even in difficult economic phases. Figures for the asset and financial situation Figures in 2014/15 2013/14 2012/13 2011/12 2010/11 Total assets millions 868 736 608 527 500 Equity capital millions 462.6 366.0 327.6 285.4 276.2 Equity ratio % 53.3 49.7 53.9 54.2 55.2 Growth in the Group resulted in a 132 million increase in total assets. The key changes in this area relate to an approximate increase of 70 million in receivables with a further 44 million invested as securities in special funds. These changes are offset by an increase in liabilities, predominantly in an increase of our equity capital of approximately 97 million. There has also been an increase of 61 million in accruals, due to the higher volume of business The equity ratio increased despite the significant increase in total assets, carrying forward 3.6 percent of the previous years results also impacted this increase. continues to be very solidly financed with equity capital of around 463 million, which will guarantee stability for the company even in a difficult economic climate. A total of around 13.2 million was invested in intangible assets and property, plant and equipment in the past financial year. continues to successfully acquire orders. This is based on intensive market and target group servicing, combined with continuous enhanced development of products and services. With higher targets compared to planning for the 2014/15 financial year, expects to also achieve the planned level of new orders ( 1,798 million, previous year 1,641 million) in the current 2015/16 financial year. The level of new orders for the Group amounted to 523 million at the end of June 2015 (3 months). In line with development to date, expectations are positive for the regional companies in relation to planned new orders in the current financial year. The Group currently has a total volume of orders on their books, worth a total of 2,080 million (previous year 1,980 million). Some 824 million (previous year 895 million) of this has already been completed. Production capacities at the factories are fully utilised in the current financial year. Emerging capacity peaks will be offset by increased employment of temporary workers and through subcontracting. The price level for procuring materials and subcontractor services is stable at present. Against the backdrop of the overall economic situation and general conditions in the construction industry, is expecting to successfully hold its own in the markets in the foreseeable future and to continue to develop progressively. This is based on High Performance and continuously enhanced products combined with optimised in-house production. Considering the existing orders in hand as well as the current level of new orders, is expecting continuous moderate growth in total turnover and earnings in the current 2015/16 financial year, assuming extreme political and overall economic effects or a very hard winter do not prohibit this. is expecting moderate growth in total turnover and earnings in the current 2015/16 financial year. Bielefeld, 24 July 2015
10 General information Consolidated Balance Sheet 11 General information Consolidated balance sheet as of 31 March 2015 The consolidated financial statements of GmbH, Bielefeld, were prepared in accordance with the provisions of the Commercial Code, taking into account the Limited Liability Companies Act. The complete consolidated financial statements are published in the electronic Federal Gazette. Assets Figures in T 31.03.2015 31.03.2014 A. Fixed Assets I. Intangible fixed assets 2,770 686 II. Property, plant and equipment 89,710 92,153 III. Financial assets 252,288 206,022 344,768 298,861 B. Current Assets I. Inventories 0 0 II. Receivables and other assets 214,486 144,379 III. Securities 35,873 42,493 IV. Cash in hand, bank balances 265,234 246,443 515,593 433,315 C. Prepaid Expenses 1,356 824 D. Deferred Tax Assets 6,523 2,582 868,240 735,582 Liabilities Figures in T 31.03.2015 31.03.2014 A. Equity Capital I. Subscribed capital 50,000 50,000 II. Other equity 412,612 315,981 462,612 365,981 B. Accruals 206,310 145,438 C. Accounts Payable 199,150 224,091 D. Prepaid Income 168 72 868,240 735,582
12 Company Structure Company Structure 13 GmbH Company Structure Regional companies and turnkey construction facilities Other companies Construction element production Nord GmbH Ost GmbH Nordost GmbH Süd GmbH West GmbH International GmbH Gebäudemanagement GmbH Bauelemente Bielefeld GmbH Bielefeld Nürnberg Berlin-Brandenburg Frankfurt Rheinland / Düsseldorf Birmingham / GB PROCENTER GmbH Münster Regensburg Leipzig-Halle Koblenz Köln Bratislava / SK Public Partner GmbH Bremen Sachsen / Dresden Magdeburg München Ruhr / Bochum Bregenz / A Solar GmbH Bauelemente Treuen GmbH Betonelemente GmbH, Hamm Betonelemente Süd GmbH, Ulm Hamburg Sachsen / Plauen Rostock Rhein-Neckar / Mannheim Linz / A Bauen im Bestand GmbH Prefabeton s.r.o. Hannover Thüringen / Erfurt Rosenheim Salzburg / A Montage GmbH Topos Prefa Tovačov a.s. Kassel Suhl Bodensee/Singen Wien / A Immobilien GmbH Kiel Stuttgart Sankt Gallen / CH Parking Services GmbH Gießen Ulm Krakau / PL New Technologies GmbH Posen / PL Prag / CZ
14 Corporate Development Corporate Development 15 Corporate development in figures (2011 2015) New orders +90% Total turnover +72% Equity capital +67% Number of employees +52%
GmbH Ummelner Straße 4 6 33649 Bielefeld, Germany Tel. +49 521 9488-0 www.goldbeck.de