11 capital market day bertrandt ag · source: airbus „global market forecast 2015 to 2034“ ......
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Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 0
11th Capital Market Day Bertrandt AG
Mönsheim, May 2016, Dietmar Bichler
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 1
Agenda
1. Business conditions
2. Market conditions for Bertrandt
3. Key figures for the first half of fiscal year 2015/2016
4. Outlook
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 2
Agenda
1. Business conditions
2. Market conditions for Bertrandt
3. Key figures for the first half of fiscal year 2015/2016
4. Outlook
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 3
Global economy remains
on previous year's level
Forecast 2016: +2.4 %
Rather muted recovery
for the euro zone
Forecast 2016: +1.4 %
German economy expiring
moderate growth
Forecast 2016: +1.6 %
Economic progress
Source: Joint Economic Forecast Project Team “Joint Economic Forecast Spring 2016“ | ifo Institute
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 4
Agenda
1. Business conditions
2. Market conditions for Bertrandt
3. Key figures for the first half of fiscal year 2015/2016
4. Outlook
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 5
OEM confronted with numerous market developments and technology trends
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 6
In consequence, car manufactures with high R&D spendings
Source: German Association of the Automotive Industry (VDA) | Center of Automotive Management
Automotive
0
5
10
15
20
25
30
0 20 40 60 80 100 120 250
50
Num
ber
ofw
orld
perm
iers
Number of innovations
VW: 235.9
Daimler: 129.6
Ford: 121.1
BMW: 97.9
74.6
68.253.5
45.8
56.3
63.2
41.7
1
2
3
4
Size of the
bubble=
strength of
innovation
Number = strenght of innovation – index value
Entire groups including all brands
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 7
365 385 396 418 422
0
50
100
150
200
250
300
350
400
450
2016 2017 2018 2019 2020
Ongoing model diversity
Source: Internal calculation | Series including derivatives (Station Wagon, Coupe etc.) but no facelifts. 5 runouts in the period under review
62 new models without predecessor
Automotive
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 8
Environmentally friendly mobility driven by regulations
0
20
40
60
80
100
120
140
160
180
BMW Daimler Ford PSA Renault VW-Gruppe
2010 2012 2013 2015
EURO-7
CO2-Target
2020(95g/km)
EU-8
CO2-Target
2025(70g/km)
Source: PA-Consulting Group | German Association of the Automotive Industry (VDA)
Automotive
Group
Average emission of CO2(in g/km)
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 9
Connectivity will triple market volume for CarIT in the next 5 years
Source: „Car IT“ magazine, No 04/2015
49.3
39.6
13.4
7.6
7.15.6
0
20
40
60
80
100
120
140
2016 2021
40.3
122.6
Autonmous
driving
Driver assistance
Entertainment
Car managament
Mobility management
Safety
Market volumen for internet based
functions in connected cars
(EUR Bill.)
Automotive
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 10
Civil aviation will increase production
Source: Airbus „Global Market Forecast 2015 to 2034“ | Civil planes with more tahn 100 setas capacity and freight planes with more then 10t load capacity
Aviation
19,000
5,900
13,100
19,500
2015 2034
Civil planes in duty
Replaced
Stay in service
and converted
Growth
Demand for
32,600 new aircraft
38,500
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 11
Cross-industry trend Industry 4.0 Industry
Source: BITKOM | The Fraunhofer Institute for Industrial Engineering IAO
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 12
Agenda
1. Business conditions
2. Market conditions for Bertrandt
3. Key figures for the first half of fiscal year 2015/2016
4. Outlook
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 13
Business development of the first half-year FY 2015/2016
Business perspectives because
of pesitent technology trends sound
Fluctuations in revenues and earnings in
particular quarters of a fiscal year will not
fundamentally alter positive assessment
of general conditions
Current parameters
One working day less in Q2
Temporary shifts in demand for capacity
Price situation within the industry remains tense
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 14
Key figures for the first half of fiscal year 2015/2016 (1/4)
*Financial indicators refer to the group
451.383
484.792
0
100.000
200.000
300.000
400.000
500.000
600.000
Erstes HalbjahrGJ 2014/2015
Erstes HalbjahrGJ 2015/2016
Revenues*(EUR million)
43.79642.206
0
10.000
20.000
30.000
40.000
50.000
Erstes HalbjahrGJ 2014/2015
Erstes HalbjahrGJ 2015/2016
EBIT*(EUR million)
EBIT
margin9.7 % 8.7 %
First half
FY 2014/2015
First half
FY 2015/2016
First half
FY 2014/2015First half
FY 2015/2016
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 15
Key figures for the first half of fiscal year 2015/2016 (2/4)
29.85628.859
0
5.000
10.000
15.000
20.000
25.000
30.000
35.000
40.000
Erstes HalbjahrGJ 2014/2015
Erstes HalbjahrGJ 2015/2016
Earnings after income tax*(EUR million)
2,962.86
0
1
2
3
4
Erstes HalbjahrGJ 2014/2015
Erstes HalbjahrGJ 2015/2016
EPS*(EUR)
*Financial indicators refer to the group
First half
FY 2014/2015
First half
FY 2015/2016
First half
FY 2014/2015
First half
FY 2015/2016
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 16
Key figures for the first half of fiscal year 2015/2016 (3/4)
33.958
44.302
0
5.000
10.000
15.000
20.000
25.000
30.000
35.000
40.000
45.000
50.000
Erstes HalbjahrGJ 2014/2015
Erstes HalbjahrGJ 2015/2016
CAPEX* (EUR million)
11,85912,663
0
2.500
5.000
7.500
10.000
12.500
15.000
Erstes HalbjahrGJ 2014/2015
Erstes HalbjahrGJ 2015/2016
Employees*
*Financial indicators refer to the group
First half
FY 2014/2015First half
FY 2015/2016
First half
FY 2014/2015First half
FY 2015/2016
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 17
Key figures for the first half of fiscal year 2015/2016 (4/4)
1.026
20.775
0
5.000
10.000
15.000
20.000
25.000
Erstes HalbjahrGJ 2014/2015
Erstes HalbjahrGJ 2015/2016
Free Cashflow* (iEUR million)
33.057
62.456
0
10.000
20.000
30.000
40.000
50.000
60.000
70.000
Erstes HalbjahrGJ 2014/2015
Erstes HalbjahrGJ 2015/2016
Operating Cashflow*(EUR million)
*Financial indicators refer to the group
First half
FY 2014/2015
First half
FY 2015/2016First half
FY 2014/2015
First half
FY 2015/2016
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 18
Capex at Bertrandt – e.g. trend theme acoustics
Challenging variety in materials ans powertrains
(Partly) Electric and therefore noiseless driving
Acustic characetristics of different materials
Two acustic centers put into
force close to customers
Ingolstadt
Sassenburg
Analysis of car acoustics in detail
Inside and outside as well
Modelling the sound characteristics
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 19
Capex at Bertrandt – e.g. developing center Mönsheim
Started in 2012
Container bureaus at the beginning to respond
flexibly and in a customer-oriented manner
Gradual development
Testing facilities
Office buildings
Next level system house
Technology center for different
engineering service providers
Area with potential for further expansion
of services close to the customer
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 20
Capex at Bertrandt – Outlook
Best possible orientation along
persistent technology trends
Environmentally-friendly mobility
Safety
Connectivity
Balancing capex intensitiy
Trend towards more connetctivity across
all industries connectivity brings chances
in the field of IT/Software
Following the customres around the globe
New facilities abroad opened – currently 13
New Austria and Romania
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 21
Agenda
1. Business conditions
2. Market conditions for Bertrandt
3. Key figures for the first half of fiscal year 2015/2016
4. Outlook
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 22
Summary – furthermore good parameters for Bertrandt
Good pespectives across all branches
R&D spending in automotive sector remains on
a high level due to legal regulations and trends
Civil aviation expands production volumes
Industry 4.0/IoT at the beginning of connectivity
and networking the added-value chain
Well positioned for taking future chances
Long-term experience in technology development
Reputation as a reliabel engineering partner
with high customer orientation
Flexibilty and financial strength
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 23
Outlook FY 2015/2016
Bertrandt regards the good market conditions and intact technological
trends as providing positive business opportunities in the future
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 result to keep rising in fiscal 2015/2016 similar to the two
preceding years
Against the background of the current circumstances described in the risk report the
management is closely observing ongoing developments. Based on our current state of
knowledge it is not possible to assess the final outcome of these developments
As described in the report for the financial year 2014/2015 it is the opinion of
management that the market continues to offer real business opportunities and
potential for short and medium-term revenue growth of seven to ten percent and an
operating profit of between eight and 10.5 percent as a percentage of revenue per year
Bertrandt will focus its investment activities in building up and expanding its
infrastructure with the aim of continually optimizing its range of services bearing
in mind that the technological developments of tomorrow will require state-of-the-art
technology. We therefore expect capital expenditure to remain at a high level
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 24
Thank you for your attention!Bertrandt AG
Bertrandt AG Presentation on the occasion of Bertrandt AG‘s 11th Capital Market Day 25
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.