Rosenbauer Group · 2019. 10. 18. · Rosenbauer accepts no liability for the actions and consequences resulting from the use of the presentation. None of the information provided

Rosenbauer Group

Person

Date

Family Office Day, Vienna

Sebastian Wolf I CFO

October 17, 2019

Rosenbauer Group

Investor Presentation I 2

Disclaimer

This presentation was produced by Rosenbauer International AG (Rosenbauer for short) forinformational purposes only. Despite the greatest care taken by Rosenbauer, no guarantee isgiven for the correctness and completeness of the content.

This presentation may not be reproduced, transmitted, or distributed (neither in its entirety nor inpart). Unless otherwise stated, all information (including financial statements and forecasts) is theproperty of Rosenbauer and may therefore be changed without prior notification by Rosenbauer.

All decisions based on information included in the Rosenbauer presentation are the soleresponsibility of the user. Rosenbauer accepts no liability for the actions and consequencesresulting from the use of the presentation.

None of the information provided in the presentation constitutes, or is intended to be, an invitationto buy or trade in Rosenbauer shares.

Agenda

1. Rosenbauer Group at a glance

2. H1 2019 financial figures

3. Outlook

Q&A

Rosenbauer Group at a glance


Rosenbauer Group equity story

Global market leader ■ Full-range supplier of fire fighting

equipment and preventive fire

protection

■ World´s largest producer of fire fighting

vehicles

■ Global market volume: ~ 21,100

vehicles (2017), ~ 15% RB market share

■ Present in around 130

countries

■ 9 Production sites in

Europe, 3 in the US and 4

in Asia

■ Around 280 sales partners

worldwide

Unrivalled worldwide networkInnovation leader ■ High R&D expenditures,

holding

> 180 patents

■ First mover pioneering

sustainability technologies

■ Lighthouse project “Concept

Fire Truck”

Resilient business model■ Above-the-market growth over the last

10 years

■ Sustainable dividend policy, safe

dividend payments

■ Broad diversification by geographies

and products


Global network of production facilities, sales and

service offices

AUSTRIALeonding

Neidling

Graz

Telfs

FRANCEChambéry

GERMANYKarlsruhe

Luckenwalde

Mogendorf &

Gladbeck

Viersen

ITALYRovereto

POLANDWarsaw

RUSSIAMoscow

EUROPESLOVENIARadgona

SPAINLinares

Madrid

SWITZERLANDOberglatt

UKHolmfirth

Lyons / South-Dakota

Fremont / Nebraska

Wyoming / Minnesota

Rosenbauer America

AMERICA

SAUDI-ARABIADschidda

KAEC

Riad

SOUTH-AFRICAHalfway House

UNITED ARAB EMIRATESDubai

MIDDLE EAST/

AFRICA

CHINAKunming

SINGAPORESingapore

PHILIPPINESMandaluyong City

BRUNEI

AUSTRALIABrisbane

ASIA/

AUSTRALIA

Production

Sales / Service

Around 280 sales partners worldwide


World firefighting vehicle market in 2017

■ Global annual volume € 4,250 million (2016: € 4.259 million)

■ Appr. 21,100 vehicles (2016: appr. 19,500)

■ Buyers are mainly public institutions

■ Rosenbauer Group worldwide No. 1

■ Share of revenues of the top-10-companies appr. 80%

0 100 200 300 400 500 600 700 800 900

Desautel / France (2017)

Iturri Group / Spain (2017)

Spartan / USA (2018)

Ziegler Group ***) / Germany (2017)

Magirus Group**) / Germany (2017)

NAFFCO / UAE (2016)

REV Group*) / USA (2017/18)

Morita Corp / Japan (2017/18)

Pierce Oshkosh / USA (2017/18)

Rosenbauer Group / Austria (2018)

Ranking of fire fighting vehicle manufacturer (revenue in € million)

*Owner of E One, KME, Ferrara

** Owner CNH Industrial Group

*** Owner CIMC / China

Source: Latest annual financial statements / estimates / (May 2019)


Full-range supplier(Product segments and % of group revenues; as of Dec 31, 2018)

Municipal Vehicles

33%

Industrial Vehicles

12%

ARFF Vehicles

11%

Aerials

20%

Fire & Safety

Equipment

8%

Stationary Fire

Protection

3%

Firefighting

Components

3%

Customer Service

7%

Others: 3%


Selected megatrends driving the firefighting industry

■ Global warming

■ Higher scale of devastation from

hydrological and meteorological

incidents

■ Non-fire emergency calls to

become more relevant

■ Tighter rules on exhaust

emissions, local bans of diesel

cars

Neo ecology / Mobility Urbanization Silver Society / Gender Shift

■ Since 2007 more than half of

the world population lives in

cities

■ This portion will grow to 60% by

2030 and to 74% by 2050

according to the UN

■ Emergency vehicles will need to

have compact dimensions, high

agility and excellent navigation /

communication tools

■ Demographic development will

significantly influence the

availability of firefighters

■ In addition ‘individualization’

threatens volunteerism and

unpaid work

■ Redefinition of usability and

functionality of fire trucks and

other fire-fighting equipment


Innovative CFT Technology anticipates relevant

megatrends

Features & functionality:

■ Adjustable ground clearance for easy access for driver and crew; easy driving in rough terrain

■ One-button operation & focus on main functions simplify the operations

■ High-performance LED lighting provides 20 times more luminosity than conventional fire-fighting vehicles

■ The CFT is equipped with WLAN access point and the Rosenbauer deployment management system EMEREC

■ Two electric engines reduce noise and pollution; for a longer use a range extender is additionally installed

100%

Rosenbauer

Series production readiness:

■ Volvo Penta to adapt proven electronic driveline to the

performance requirements of a fire service application

■ “Innovation partnership” with Berlin Fire Department

■ Global market for innovative CFT technology to reach

around 3,200 vehicles in 2030, with 700 to 800 units

running in Europe already by 2025

■ Particular interest from members of the “C40 Cities

Climate Leadership Goals”

■ Market launch planned for 2021


Simulator – Product portfolio

Panther simulator ERDS simulator

New: Aerial Ladder Tactical Simulator ■ Significant expansion of the simulator portfolio

■ Virtual reality simulator to practice the safe and proper put-up of aerial ladders

■ Big selection of cities, operation sites and places of installation

■ Demanding trainings can be implemented in a more simple way, in shorter time and at lower

cost

■ Documentation and evaluation of training results

■ 100% safety for emergency personnel

■ Trainings on a virtual reality simulator contribute to the preservation of climate

and environment


Rosenbauer at the Interschutz 2020

■ 15 -20 June 2020, Hanover(Capital Markets Day: June 16, 2020)

■ World´s leading trade fair for

firefighting and rescue services,

more than 150.000 visitors

■ Positioning as the No. 1 system

provider

■ Focus: City; with Municipal line-up

■ More than 30 vehicles on display

■ Digital solutions and simulators

■ Innovations in the field of personal

safety equipment

■ Preventive fire protection

■ 4,679 m2 in halls 27, 13 and in the

outdoor area

H1 2019 financial figures


Highlights

■ Rosenbauer Group grows strongly in the first six months 2019, revenues

increase by 12% to € 394.6 million

■ Especially shipments in North America, Central Europe and Asia turn out to be higher, Near

East with declines

■ Preparation for planned increase in production in the second half-year

weighing on profitability, EBIT falls to € 5.2 million

■ Higher expenses for personnel and material, “short” June shows even a negative EBIT

■ On the contrary new accounting standard IFRS 16 has only a marginal effect

■ Order intake with € 571.1 million clearly above previous year ensuring a very

high utilization of the production facilities

■ Successful bonded loan secures a solid basis for growth also in the long run

■ Managing board aims at more than € 950 million revenues and about 5.5% EBIT

margin for the full year


Financial figures

€ million 1-6/2017 1-6/2018 1-6/2019 2018/2019

Revenues 393.6 352.7 394.6 +11.9%

EBIT 2.7 10.1 5.2 1 -48.5%

EBIT margin 0.7% 2.9% 1.3% -

EBT 3.7 6.1 2.0 2 -67.2%

Net profit for the

period3.4 5.3 1.6 -69.8%

Cash flow from

operating activities-51.7 -39.4 -115.7 -

Without application of IFRS 16:

1) EBIT: 5.1 m€

2) EBT: 2.1 m€


Revenues and EBIT quarterly

211.3219.5

268.0

181.9

211.7 210.9

243.1

162.4

190.3199.3

357.4

175.8

218.8

15.5

8.5

19.6

5.8

12.1

6.3

1.1

8.9 7.0

31.8

2.13.1

Q2

/16

Q3

/16

Q4

/16

Q1

/17

Q2

/17

Q3

/17

Q4

/17

Q1

/18

Q2

/18

Q3

/18

Q4

/18

Q1

/19

Q2

/19

Revenues EBIT

-3.1

€ million


Revenue development

■ Rosenbauer

Group with strong

growth in H1 2019

■ 3 out of 6

business

segments achieve

higher volumes

■ Area NOMA and

Area CEEU

account for the

biggest increases

€ million

Area Revenue

H1 201929.8 38.4 56.0 128.7

Group Revenues

H1 20198% 10% 14% 32%

Group Revenues

H1 201812% 12% 14% 28%

10.7

3%

3%

131.0

33%

31%

352.7+19.8 -13.6 -2.5 +7.6

+31.2 -0.6 394.6

H1 2018 SFP H1 2019CEEU MENA NISA APAC NOMA

+11.9%


EBIT development

NOMAMENAH1 2018 CEEU NISA SFPAPAC H1 2019

Area EBIT

H1 20193.9 -2.3 -0.5 1.3 4.6 -1.8

Group EBIT

H1 201975% -44% -10% 25% 88% -34%

Group EBIT

H1 201855% 23% -11% -2% 46% -11%

■ Higher expenses

for personnel and

material weigh on

EBIT

■ “Short” June

closes with - € 1

million (June 2018:

€ 3.7 million)

■ Area APAC

increases

revenues and EBIT

CEEU MENA NISA APAC NOMA

€ million

10.1 -1.6

-4.7

+0.6

+1.5 0 -0.75.2

-48.5%


Accounting ratios

€ million / % Jun. 30, 2018Dec. 31,

2018Jun. 30, 2019

FY 2018/

H1 2019

Total assets 696.2 782.3 900.8 +15.2%

Equity ratio 31.7% 30.3% 25.1%1 -

Capital employed (ø) 493.2 498.6 597.2 +19.8%

ROCE 2.0% 9.8% 0.9% -

ROE 2.7% 18.4% 0.9% -

Net debt 245.5 231.5 396.8 +71.4%

Gearing ratio 111.2% 97.6% 175.6% -

Without application of IFRS 16:

1) Equity ratio: 25.8%


Balance sheet structure (in € million)

224.7328.6

466.198.5

0.0

0.0179.9186.5

231.1 182.3181.1

203.6

685.4696.2

900.8

H1/2017H1/2018H1/2019

Assets

Receivablesand otherassets

Constructioncontracts

Inventories

261.4 266.6

413.8

230.3 220.7

225.9135.9 152.1

207.2

57.7 56.8

53.9

685.4 696.2

900.8

H1/2017 H1/2018 H1/2019

Provisions

Liabilitiesand otherdebt

Equity

Interest-bearingliabilities


■ Long throughput times of 8 to 12 months

■ Prepayments averaging 10%

■ Average payment term of 70 days

Trade working capital and financing

FINANCING€ m i l l i o n

TRADE WORKING CAPITAL€ m i l l i o n

Trade Working Capital

€ million

Financing

€ million

*) Guidance 2019

406.0 388.6

514.9

847.6

909.4950.0 *

47.9%

42.7%

54.2%

0%

20%

40%

60%

80%

0

250

500

750

1000

H1 2017 H1 2018 H1 2019

Trade Working Capital

Annual Revenue

Trade Working Capital / Annual Revenue

247.9 245.5

396.8

230.3220.7 225.9

107.6% 111.2%

175.6%

0

50

100

150

200

250

300

350

400

H1 2017 H1 2018 H1 2019

Net debt

Equity

Gearing Ratio

■ Strong increase of inventories and current

receivables

■ Basic financing by a bonded loan


Refinancing strategy: Bonded loan as a long-term basis

■ Basic financing of growth strategy

by a bonded loan

■ Shift from short-term to long-term

maturities

■ Diversification of creditors

64%

21%5% 5% 2% 3%

24%15% 4%

18%1%

38%

2019 2020 2021 2022 2023 >2023

Maturity profile:

Maturity profile2018/12/31

Maturity proflie2019/06

■ Significant improvement of the maturity profile by a bonded loan and an additional OeKB loan

■ Seasonal increase of net debt as per 2019/06

■ Sale of accounts receivable to lower

balance sheet total

■ Target: Improvement of working

capital management (cash

conversion cycle)


11.0 11.0

7.78.2

6.86.7 7.07.8

8.4 8.3

H1 2015 H1 2016 H1 2017 H1 2018 H1 2019

Investments Depreciation and amortization

Investments

CAPEX, depreciation and amortization€ million

■ Modernisation Leonding, aerials production Karlsruhe

Outlook


Order intake / backlog

Order intake/backlog

€ millionOrder intake H1 2019

by Area (H1 2018)

CEEU36% (27%)

NISA10% (9%)

MENA10% (17%)

NOMA19% (24%)

APAC23% (20%)

SFP2% (3%)

€ 571.1m 479.5

376.5

458.3

525.4571.1

835.7 812.9 812.0

1,030.5

1,229.4

1-6/2015 1-6/2016 1-6/2017 1-6/2018 1-6/2019

Order intake Order backlog


Outlook

■ Global economic growth will slow down further in 2019, according to the IMF

■ Especially the US-China-EU trade disputes and lower economic activity in Europe are a

burden

■ The world fire service market follows with a delay of several months, full order books

should make the industry resilient

■ Procurement volumes in the North American fire service market could again

well exceed 4,000 vehicles this year

■ European fire service market continues to grow, Asia should also show gains

■ A massive order book supports the high utilisation of capacity of the

production sites and gives Rosenbauer Group a strong visibility in the

markets

■ Strategy for organic growth will continue to be implemented consistently,

focus on local market shares and increase in efficiency

Thank you for your attention!

Appendix


Executive board

CTO

Daniel Tomaschko

Supply Chain Mgmt.,

Central Technics,

Center of Competence

Operations,

Stationary Fire

Protection

CFO

Sebastian Wolf

Audit, Controlling,

Accounting/Tax,

Treasury,

Legal & Compliance &

Insurance, Export

Finance, Investor

Relations/CSR,

IT

CSO

Andreas Zeller

Area CEEU

Area NISA

Area APAC

Area NOMA

Area MENA

Customer Service

Sales Administration

CEO

Dieter Siegel

Corporate Development,

Human Resources,

Strategy, Innovation &

Marketing,

Group Communication,

Fire & Safety Equipment

Product Management


Segment reporting by Areas

CEEU: Central & Eastern Europe

NISA: Northern Europe, Iberia, South America, Africa

MENA: Middle East & North Africa

APAC: Asia, Pacific, Australia, China

NOMA: North & Middle America


Revenues and EBIT (in m€)

416.9

383.4 393.6

352.7

394.6

21.9

18.8

2.7

10.1

5.2

0

10

20

30

40

50

0

100

200

300

400

500

1-6/2015 1-6/2016 1-6/2017 1-6/2018 1-6/2019

Revenues EBIT

5.3 % 4.9% 0.7 %EBIT margin 2.9 % 1.3%


Number of employees (reporting date)

In addition, Rosenbauer employs approximately 350 temporary employees.

1,341

1,384

1,335

1,366

1,457

741

766

781

828

846

635

779

845

867

928

299

332

354

410

452

June 30, 2015

June 30, 2016

June 30, 2017

June 30, 2018

June 30, 2019

Austria USA Germany Rest of the World

3,683

3,471

3,315

3,261

3,016


Rosenbauer share

* Rosenbauer Beteiligungsverwaltung GmbH

1-6/2018 1-6/2019

Highest price € 57.2 45.6

Lowest price € 44.5 33.1

Closing price € 47.0 42.5

Market capitalization€

million 319.6 289.0

Dividend € 1.0 1.25

Earnings per share € 0.1 -0.4

BVG *51%Free float

44%

InvestorFR5%

Indizes: ATPX, AFA, AIGS, AP8, AXGP, NAP8, NTFA, TAP8, TFA, VOX, WBI

30,0

35,0

40,0

45,0

50,0

Jan Feb Mar Apr May Jun

Rosenbauer EURO ATXPrime index.


Financial calendar 2019

October 17, 2019 Family Office Day, Vienna

November 12, 2019 Publication of the Interim Statement Q3/2019

November 12, 2019 RCB Institutional Lunch, Vienna

November 27,2019 Shareholders‘ Day (for retail investors), Leonding

(Planned) Roadshow Warsaw

Documents

Rosenbauer Group · 2019. 10. 18. · Rosenbauer accepts no liability for the actions and consequences resulting from the use of the presentation. None of the information provided