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TRANSCRIPT
March 2018
Company Presentation
Overview
2
Our future
Company profile
Our business model
Facts and figures
3
Headquarters Munich, Germany
(€ bn)
Turnover
Group headquartersMunich, Germany
Production and development locations
Germany, Austria, USA, the Philippines*, Brazil, Serbia, China
~ 280
> 300
> 50
> 140
since May 2007
> 5.500
Property rights and patents
Product groups
Affiliates worldwide
Sales and service stations
Stock exchange listing
Employees
1.361.53
2016 2017
+13%
* Integration of production Manila (Philippines) into Pinghu (China)
Group organization
100%
Wacker Neuson SEGroup Executive Board
Headquarters, group-wide functions(Group controlling, group accounting, treasury, legal, internal auditing, real estate, investor relations, Corporate Communication, CSR,
human resources, group marketing, IT, Purchasing, Quality Management… )
Operating companies (individual legal entities, >50 affiliates)Europe (all 100%) Americas (all 100%) Asia-Pacific (all 100%)
Wacker Neuson ProduktionGmbH & Co. KG, Reichertshofen, Germany
Wacker Neuson VertriebDeutschland GmbH & Co. KG, Munich, Germany
Wacker Neuson VertriebEuropa GmbH & Co. KG, Munich, Germany
Weidemann GmbH, Diemelsee-Flechtdorf, Germany
Wacker Neuson (Pty) Ltd., Florida (near Johannesburg), South Africa
Wacker Neuson Ltd., Waltham Cross (near London), GB
Wacker Neuson GmbH, Vienna, Austria
Wacker Neuson srl con socio unico, San Griorgio di Plano (near Bologna), Italy
Wacker Neuson S.A.S., Brie Comte Robert (near Paris), France
Wacker Neuson AG, Volketswil (near Zurich), Switzerland
Wacker Neuson S.A., Torrejón de Ardoz (near Madrid), Spain
Wacker Neuson s.r.o., Prague, Czech Republic
Wacker Neuson Máquinas Ltda., Jundiaí (near São Paolo), Brazil
Wacker Neuson Ltda., Huechuraba (near Santiago), Chile
Wacker Neuson Ltd., Mississauga (near Toronto), Canada
Wacker Neuson S.A. de C.V., Mexico City, Mexico
Wacker Neuson Manila, Inc., Dasmariñas (near Manila), Philippines
Wacker Neuson Pty Ltd., Springvale (near Melbourne), Australia
Wacker Neuson Shanghai Ltd., Shanghai, China
Wacker Neuson Singapore Pte. Ltd., Singapore
4
…..
Areas of responsibility for Executive Board and Supervisory Board
5
Executive Board
Hans Neunteufel (Chairman)
Prof. Dr. Matthias Schüppen
Ralph Wacker
Martin LehnerCEO
Production, technology, quality, procurement, strategy/M&A, HR,
legal matters, compliance, investor relations, corporate
communication, sustainability
Supervisory Board
Wilfried TrepelsCFO
Finance, audit, IT, supply chain, real estate
Kurt Helletzgruber
Elvis Schwarzmair (employee representative)
Christian Kekelj (employee representative)
Alexander GreschnerCSO
Sales, service, marketing
1,0921,160
1,2841,375 1,361
1,5341,650 – 1,700
2012 2013 2014 2015 2016 2017 2018e
+13%
Wacker Neuson Group development of revenues
6
Multi-year comparison 2012–2018e1
1 Figures according to IFRS.
+6%+11%
+7%
(€ m)
-1%
2017: Revenue growth by regions and divisons1
7
1 In brackets: adjusted for currency effects; 2 Nominal, after cash discounts; 3 Nominal, before cash discounts; differences from rounding may occur
1020.71129.8
12M/16 12M/17
Europe2
+11% (+11%)
377.9422.7
12M/16 12M/17
Light equipment3
+12% (+13%)
291.9357.5
12M/16 12M/17
Americas2
+22% (+24%)
709.3817.6
12M/16 12M/17
Compact equipment3
+15% (+16%)
48.9 46.6
12M/16 12M/17
Asia-Pacific2
-5% (-4%)
297.2 320.4
12M/16 12M/17
Services3
+8% (+8%)
(m€)
(m€)
(m€)
(m€)
(m€)
(m€)
Global footprint
8
More than 50 affiliates and 5,200 dealers in over 12,400 sites worldwide
Europe 74%
Americas 23%
Asia-Pacific 3%
Sales by region 2017 (as %)
History – innovation from tradition (since 1848)
9
Focus on simplification of processes of our customers
1930: first electric rammer
1937: first internal vibrators
1971: first Hoftrac®
1933: Kramer tractors
1956: electric breakers
1984: first mini excavator
1987: Allrad-technology Kramer
…1848:
Foundation of the blacksmith's shop Wacker
1991:first articulated trench roller
1925: Foundation Kramer
1960: Foundationmachine factoryWeidemann KG
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Focus on simplification of processes of our customers
…2007: Merger to form Wacker Neuson SE
2001: Merger of the companiesNeuson Baumaschinen GmbH and Kramer-Werke GmbH
2005: Weidemann GmbH joins the group
2004: first joystick steering system
2001: first six-ton excavator with pivot arm
History – innovation from tradition (since 1848)
2008: first cabin dumpers 2015:
first battery powered rammer
2010: first compact telehandler
Company valuesCulture of a traditional, family-run business
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Expertise
No matter what we do, we arealways looking for ways to do itbetter – and to the highest qualitystandards. We understand thebenefits that our equipment andservices offer our customers andwe know the strengths andweaknesses of our competitors.These insights enable us to findnew ways of solving problemsand launching innovativeproducts for our customers.
Passion
We are passionate aboutdelivering excellent results, feelcompelled to achieve our goalsand often reach beyondourselves to go the extra mile.Challenges inspire us to be morecreative. We recognizeoutstanding performance andcelebrate our successes.
Agility
We understand that needs varyfrom one customer to another andso we make it our personalbusiness to always respond toeach new challenge with agilityand efficiency. We never losesight of the big picture. Organizedin self-starting teams, we ensurethat information is shared quicklyand transparently across thecompany. We value and respecteach other.
Entrepreneurship
As a family-run company, wefocus on the challenges that lieahead, taking an open-minded,bold approach to new businessopportunities. With a clear focuson targets and executionefficiency, we aim for sustainable,profitable growth. As employees,we pride ourselves on our senseof initiative, responsibility andreliability, as well as our ability tothink outside the box.
Family Wacker 33%Family Neunteufel 30%Free float 37%
Shareholder structure
Number of shares: 70,140,000
Overview
12
Our future
Company profile
Our business model
Our brands and target groups
13
Construction industry, gardening and landscaping firms, municipal services, recycling, railroad/track construction, rescue services,
energy sector, etc.Agriculture, horse farming, tree nurseries etc.
14
Light Equipment Services
More than 40 product groupsOver 250 product groups
Compact EquipmentExcavators
1in selected countries
Concrete technology Compaction
Product range to meet the full spectrum of customer needs
Demolition Power & Lighting Pumps
Heating
Dumpers
Telehandlers Wheel loaders
AcademyUsed machines1
Repair1 & Maintenance1
Financing
Rental service1
e-Store1 Concrete Solutions
Telematics
Skid SteersBackhoe-loaders
Our competitive edge
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S
T
R
E
N
G
T
H
S
As a leading global supplier of light and compact equipment, the Wacker Neuson Group offers a unique range of products aimed at optimizing customer processes.
Leading position across key markets
Outstanding product quality
Wealth of technical expertise and strong innovative drive
High brand visibility
Own global sales network
Focused, flexible production facilities and sophisticated logistics
Sustainable business practices
Experienced management
Beside construction, more industries are gaining of importance
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Light equipment 27%Compact equipment 52%Services 21%
Markets Light equipment Compact machines
Agriculture
Renovation/rehabilitation
Development
Infrastructure (road and highway construction, bridge construction)
Gardening and landscaping
Handling logistics/port logistics
Residential construction
Demolition
Maintenance/repairs
Industry & Recycling
Underground construction
Oil & gas/energy industry
Events
Municipalities
Business segments
Revenue split (2017, as %)
Target group oriented sales:
Focus on customer processes
17
Cutting Breaking Excavation Filling Compaction Asphalt compaction
Breakers Vibratory platesFloor/cut-off saws Wheel loaders Rammers
Light towers Pumps
Utility
Generators
Compact excavators
Innovative and high quality product solutions drives working process economical and ecological – one-stop provider.
Development and production sites
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Pfullendorf (GER) Korbach (GER)
All-wheel steered wheel loaders
Telehandlers
Articulated steered wheel loaders
Hoftracs®
Telehandlers
Production / Academy / R&D Production / R&D Production / R&D
Reichertshofen (GER)
Concrete technologyInternal/external vibrators, frequency converters
Soil and asphalt compactionVibratory plates, rollers, rammers
DemolitionBreakers
Hörsching (AT)
Production / R&D
Tracked and wheeled excavators
Track and wheel dumpers
Development and production sitesMilwaukee (USA)
Production
Concrete technologyTrowels
Soil and asphalt compactionRammers, rollers, trench rollers
UtilityGenerators, pumps, heater, light towers, lighting
Material handling Skid steer loaders, compact track loaders
Kragujevac (Serbia)
Premanufacturedsteel components
Production / R&D
Itatiba, São Paulo (Brasil)
Mobile generators
Production
Pinghu (China)
Production
Mini-excavators
Constructionequipment for Asiain the course of2018
19
Selected innovations (I)
20
Continuous overdrive gearboxExcavator 803 with dual power
vls / smart handling Battery-driven rammers
• Hydrostatic large-angle drive with continuous speed control from 0 – 40 km/h.
• Maximum shear force and tractive force in all driving and working situations.
• Maintenance-free electric motor that is started at the push of a button
• 100% emission-free work expands the application range (e.g. compaction in trench applications or in urban areas)
• Same compaction performance as comparable gasoline-powered rammers
• Low operating and energy costs
Protection against overload by means of the automatic and load-dependent down-telescoping.
Also safe for inexperienced operators increased operating safety clear increase in efficiency in daily use.
Emission-free and standard diesel engine; one model for two job sites.
Same performance with diesel or HPU operation.
HPU specially designed for excavator application.
No limitation of working movements.
Selected innovations (II)
21
Excavators with extremely economical consumption
Vertical Digging System (VDS)
Compatec compaction control
Weidemann-branded eHoftrac® 1160
High performance, low energy.
Battery-operated electric wheel loader.
No emission of harmful substances such as CO2, soot particles or other exhaust gases.
Up to 5 hours under full workload.
30% higher productivity and 20% less fuel consumption
Unique kinematics: up to 20% more breakout force, greater vertical cut-in depth
Total angle of rotation 200 degrees
Better view of the working area
Diverse options
Measurement of the relative compaction progress during compaction. Protecting the machine: avoidance of over-compaction and overloading.
Display adapts to the ambient light Ideal for inexperienced users, low acquisition costs.
Measurement sensor on the upper mass: lower risk of damage, longer service life.
Available for trench rollers and vibratory plates.
Shorter digging times through exact vertical digging.
Usual upright seating position More productivity and greater efficiency Fatigue-free working.
Selected innovations (III)
22
WM80 two-cycle engine for rammers and gas breakers
Equipment operation without any time restrictions (according to EU directive 2002/44/EG).
Comfortable working without health burden.
Elimination of obligatory documentation requirement.
No preventative measures necessary.
Efficient compaction performance.
Emissions fall significantly below current emission thresholds and those announced for the future.
High single stroke impact energy with low emissions.
Typical two-cycle engine: even on uneven terrain fully functional.
RT-SC3 trench roller
Simple detachment of attachment drums to reduce the operating width from 82 cm to 56 cm.
Third infra-red receiving eye
Increased maneuverability and flexibility.
The engine control module with diagnostic LEDs monitors machine functions.
Compaction control Compatec available.
Vibratory plates with low hand-arm vibrationsKramer 5055e all-wheel drive electric wheel loader:
Zero emissions and extremely low noise levels
First fully electric wheel loader in the 0.55 m³ bucket capacity class
Performance, maneuverability and user friendliness all match the conventional model
Cost effective
Wacker Neuson ECO
ECO seal for solutions that are particularly economical and environmentally friendly
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ECO Seal
23
24
Wacker Neuson Group leading alternative drive technologies
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Sustainability Management @ Wacker Neuson Group
Ensuring the highest occupational safety standards
Operator safety and protection for customers and users
Maintaining quality across all processes
Energy- and resource-efficient processes in production, sales, logistics and administration
Tapping unused energy efficiency potentials and reducing costs through energy and environmental management systems (ISO 50001, ISO 14001) and energy use control
Environmentally friendly products and solutions for customers (ECO products)
Intensive dialogue with customers / stakeholders and involving them in the product development process
Building a reputation as an attractive employer
Responsible interaction between colleagues
Regular involvement in social projects (corporate citizenship)
Sustainable value chain
Reducing operating costs for customers through energy-efficient products (ECO and zero-emissions products)
Legal compliance and anti-corruption
Integration of management systems (quality, energy, environment)
Ecology Society
Safety Economy
Current sustainability report: www.wackerneusongroup.com/en/sustainability/downloads/
Building a stronger position to meet growing challenges
Overview
26
Our future
Company profile
Our business model
Megatrends are increasing global demand for our products
27
Trends driving Group business
28
Construction industry
Modernization of infrastructure in mature and emerging markets
Products and services adapted to local customer requirements
Expansion of broadband networks (super-fast Internet)
Reconstruction (renovation, modernization)
Increase in residential and non-residential construction in cities (urbanization)
Greater emphasis on environmental protection (stricter emissions legislation)
Digitalization of products and services
Opportunities
Agriculture and other sectors
Increasing global demand for food and fodder due to population growth
Shift towards larger holdings (especially in Europe) with greater demand for mechanization (multifunctional equipment)
Increasing industrialization/automation of agricultural operations, including in emerging economies
More efficient transportation of material in the industrial sector
Greater emphasis on environmental protection (stricter emissions legislation)
Digitalization of products and services
Mission, Vision, Strategy
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Costumer Centricity: Focus – Acceleration – Excellence
Mission – What do we stand forEverything we do, think and learn is inspired by the success of our customers inthe construction and agricultural sectors. We stay close to our customers aroundthe world so we are always getting quicker and better at understanding theirregional needs, challenges and worksite processes. As a specialist for light andcompact equipment, we proactively offer innovative solutions, products andservices that strengthen our customers’ business success in the long term.
Vision – Where we are headedWe are the most innovative trendsetter in the industry, growing twice as fast asthe market. We are the partner of choice for our customers. Our core strengths liein closer customer ties, customer-centric product development, digitalization andproduct/service networking. We maintain a corporate culture that values andrespects individual effort and we channel our efforts into gaining a leading positionin all areas.
Strategy – What drives us forward
0
200
400
600
800
1.000
1.200
1.400
1.600
1.800
2017 2018e
EBIT margin9.0 – 10.0 %
(Revenue in € m)
Revenue and EBIT margins 2017–2018e
1,534 +8% to +11%
EBIT margin8.6%
1,650–1,700
Forecast for 2018
30
Investments of ~ € 60 m
Strong financial position independence Long-term growth strategies family culture Technology leader
Highest product and service quality Flexible production sophisticated logistics Balanced revenue structure
Cross-industry focus Global footprint customer proximity
Experienced, highly motivated employees Sustainable
business practices Unparalleled extensive portfolio Strong profit margins
Great reasons for choosing Wacker Neuson Group
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March 20, 2018 Publication of annual report 2017
May 8, 2018 Publication of Q1 report 2018
May 30, 2018 AGM, Munich
August 7, 2018 Publication half-year report 2018
November 8, 2018 Publication of Q3 report 2018
Financial calendar and IR contactFinancial Calendar
IR contactInvestor Relations Department
Preussenstrasse 41, 80809 Munich, GermanyPhone: +49-89-35402-173, Fax: +49-89-35402-298
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DisclaimerCautionary note regarding forward-looking statements
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The information contained in this document has not been independently verified and no representation or warrantyexpressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness orcorrectness of this information or opinions contained herein.
Certain statements contained in this document may be statements of future expectations and other forward lookingstatements that are based on management‘s current view and assumptions and involve known and unknown risks anduncertainties that could cause actual results, performance or events to differ materially from those expressed or impliedin such statements.
None of Wacker Neuson SE or any of its affiliates, advisors or representatives shall have any liability whatsoever (innegligence or otherwise) for any loss howsoever arising from any use of this document or its content or otherwise arisingin connection with this document.
This document does not constitute an offer or invitation to purchase or subscribe for any securities and neither it nor anypart of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.
Appendix
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Concrete technology
35
Concrete technology
36
Trowels
37
Compaction
38
Cutting & Breaking
39
Heaters
40
Pumps
41
Power and light
42
Compact machines
43
Attachments
44