BAUER AG. Group Presentation First half-year Old carpentry shop Esslingen, Germany IR-Presentation_HY_2013

Transcription

1 BAUER AG Group Presentation First half-year 2013 Old carpentry shop Esslingen, Germany

2 Key Figures HY 2013 in EUR million 1,600 Total Group revenues in EUR million 1,304 1,371 1, Net profit 1, HY 2012 HY HY 2012* HY 2013 in EUR million 880 Orders in hand Employees in average ,094 9,646 10,253 10,126 10,388 12, , , , HY 2012 HY HY 2012 HY 2013 *adjusted because of IAS 19 R 2

3 Mission & Strategy Our mission Services, equipment & products dealing with ground and groundwater Our strategy The world is our market. World market leadership for foundation technology. Powerful development of drilling applications and related services for resources, water and energy markets. Optimizing worldwide organizational networks and self controlling structures for the Group. Growth 5 to 10 % per year. BG 42 PremiumLine Munich, Germany 3

4 Key Figures HY 2013 Main topics Total Group revenues with EUR million were 3,3 % above first half-year 2012 (EUR million). The Construction segment s weaker increase in revenues resulted from a delayed start to some major projects. EBIT with EUR 3.3 million was down against the previous year comparative (EUR 6.5 million). Revenues in the Equipment segment increased by 6.7 percent to EUR million, EBIT fell significantly from EUR 11.7 million to EUR 5.8 million, because of lower-margin sales. The Resources segment saw revenues fall by a substantial 23.8 percent to EUR 94.1 million, largely attributable to the substantially lower revenues from large-scale projects. EBIT of EUR -1.9 million was well down against the previous year comparative (EUR +1.0 million) The net loss for the first half-year with EUR 7.9 million was well down against the previous year comparative (EUR -2.8 million). Order backlog rose strongly to EUR million (previous year: EUR million), thanks primarily to the healthy trend in the Construction segment and to the better order intake in the Equipment segment. In view of our weak first-half performance, we are unable to sustain the forecast we set out in our Annual Report. We now forecast full-year total Group revenues of around EUR 1.5 billion, an after-tax profit of around EUR 20 million, equating to EBIT of about EUR 70 million. 4

5 Key Figures HY 2013 HY 2012* in EUR million HY 2013 in EUR million HY in % Total Group revenues, of which - Germany - International - Construction - Equipment - Resources % 21.0 % -2.7 % 8.4 % 6.7 % % - Consolidation / Other n/a Sales revenues % Orders received % Orders in hand % EBITDA % EBIT % EBIT margin in % (of sales revenues) n/a Net income n/a Earnings per share in EUR n/a Equity ratio in % n/a Number of employees (average over the year) 10,126 10, % *adjusted because of IAS 19 R 5

6 Contents 1 Overview BAUER Group p. 7 2 BAUER market environment p Regional breakdown of revenues p Financials p Guidance Appendix p. 26 p. 27 6

7 1 BAUER Group The three segments Target: ~ 40 % of total Group revenues Market leader in specialist foundation equipment New products for mining, deep drilling and offshore drilling 80 % of revenues from sales abroad Multi-branding strategy Target: ~ 20 % of total Group revenues Activities in environmental technology, mining, deep drilling, well construction, materials Target: ~ 40 % of total Group revenues Global provider for specialist foundation engineering services Specialist construction services Focus on complex, international projects 7

8 1 What is specialist foundation? Building an excavation pit Supporting Wall Ground Water Underpinning Injection Injection Anchor Sealing Slab Pile Foundation 8

9 1 What is specialist foundation used for? Applications for projects Buildings Infrastructure Water Energy Industry Foundations Excavation pits Cut-off walls Ground improvement 9

10 1 Resources Segment The three competence areas Materials about 35 % of revenues* Exploration & Mining Services about 25 % of revenues* Environment about 40 % of revenues* Full-line provider for materials in the field of well construction geothermal energy distribution of gas/water/ geothermal energy * based on figures HY 2013 Production drilling (for example: water wells) Exploration drilling Preparative work for the mining of resources Complete solutions in the field of geothermal energy Special solutions for mining resources Disposal of polluted areas Cleaning of process water and effluents Processing of drinking water Cleaning of extracted air High purity systems Brewing technology High purity water systems 10

11 1 Total Group Revenues Longstanding healthy business development in EUR million (segment after decucting Other/Consolidation) Total 1,446 Financial crisis Resources 260 Far East crisis Equipment 543 German reunification Construction Overseas 478 Construction Domestic 165 Note: based on HGB figures, from 2003 based on IFRS figures 11

12 1 Worldwide network More than 110 subsidiaries in about 70 countries Permanent Offices: Construction Equipment sales Resources Equipment production locations BAUER Maschinen KSM, Kurgan, Russia Shanghai BAUER Technologies, Shanghai, China BAUER Manufacturing Inc. BAUER Group, plant Aresing near GWE Group, plant Luckau, BAUER Equipment Malaysia Conroe, Texas, USA Schrobenhausen, Germany Germany Shah Alam, Malaysia 12

13 1 BAUER Group Strengths & Chances Strengths Strategic business model with three forward-looking segments providing high level of synergies. Global network organisation with flexible, decentralized management. World market leader in foundation equipment with innovative strength in enhancing existing products and designing new ones. Chances Construction segment with considerable number of major projects currently under construction and tendered for worldwide. New growth potential in Equipment segment with entirely new techniques such as deep drilling rigs, powerful foundation crane series and offshore equipment. Resources segment with ground-breaking projects, e.g. biological water treatment plant and promising opportunities due to its focus on growth markets water, energy and environment. RB-T 90 / TBA 100 Small-sized deep drilling rig 13

14 2 World construction markets Bauer market potential + Western Europe: declining markets, Germany is quite good USA / Canada: public demand, power plants, dams, etc. - + Eastern Europe: slowly positive development, especially Russia Far East: positive development in all areas, especially Hongkong, Malaysia Other Americas: several chances in Central America + o Central Asia: good market potentials ++ Africa: slight construction activities, regional growth (Angola, Algeria); demand for water and resources Middle East: stable, especially Abu Dhabi, Saudi Arabia; Qatar very busy Summary: -- weak - slightly weak o stable + growing ++ strong growth Recovering market conditions worldwide, but generally very unstable; huge pent-up demand. Specialist foundation construction grows relative to construction market. Energy 14 sector becomes main booster also because of energy turnaround (renewable 14 energies & reduction of energy consumption);

15 2 Global economic situation IMF projection of the real annual GDP growth in % United States European Union Germany CIS* Russia Brazil Middle East & North Africa Developing Asia China Latin America Sub-Saharan Africa Australia** World Advanced Economies Emerging Markets & Develop. Economies Source: International Monetary Fund, World Economic Outlook Database, July 2013 * CIS = Commonwealth of Independent States (incl. Georgia) ** April

16 2 Market environment Orders & Currency risks Order backlog (Orders in hand) Currency Risks HY 2013 TOTAL EUR 868 million Construction EUR 531 million Equipment EUR 154 million Resources EUR 183 million * incl. running small-type orders Reach in months in relation to total Group revenues full year months 9.7 months 3.1 months* 8.3 months Construction Project size EUR 100,000 up to EUR 70 million ~ 50 / 50 infrastructure / large industrial buildings ~ 600 projects per year Local financing (natural hedge) for project duration Translation risk (consolidation) hedged USD business hedged, e.g. swaps Construction Germany Expected order intake 2013 Construction International + Equipment BAUER Maschinen GmbH Equipment Subsidiaries Resources Equipment ~ 70 % of invoicing in EUR USD business hedged with permanent translation of individual machines Production expansion to US, China and others to counteract currency risk EUR / USD / RMB and others -- weak - slightly weak adequate + well adequate ++ very well adequate 16

17 3 Regional breakdown Total Group revenues HY 2013 in EUR million Total 725 Germany 215 (30 %) Africa 25 (4 %) Americas 87 (12 %) Asia-Pacific, Far East & Australia 155 (21 %) Full year 2012 in EUR million Germany 385 (27 %) Total 1,446 Africa 60 (4 %) Americas 203 (14 %) Europe (other) 130 (9 %) EU excl. Germany 143 (10 %) Asia-Pacific, Far East & Australia 328 (23 %) Middle East & Central Asia 197 (13 %) Europe (other) 89 (12 %) EU excl. Germany 80 (11 %) Middle East & Central Asia 74 (10 %) 17

18 3 Regional breakdown Construction, Equipment, Resources HY 2013 Construction segment Equipment segment Resources segment in EUR million Total 340 Total 291 Total 94 Germany 97 (28 %) Africa 16 (5 %) Americas 36 (11 %) Asia-Pacific, Far East & Australia 96 (28 %) Germany 63 (22 %) Africa 5 (2 %) Americas 46 (16 %) Asia-Pacific, Far East & Australia 58 (20 %) Germany 55 (59 %) Africa 4 (4 %) Americas 5 (5 %) Asia-Pacific, Far East & Australia 1 (1 %) Middle East & Central Asia 20 (21 %) Europe (other) 30 (9 %) EU excl. Germany 29 (8 %) Middle East & Central Asia 36 (11 %) EU excl. Germany 45 (15 %) Europe (other) 56 (19 %) Middle East & Central Asia 18 (6 %) Europe (other) 3 (3 %) EU excl. Germany 6 (6 %) Figures after deducting Other/Consolidation 18

19 4 Financials Revenues, earnings & orders Revenues Orders in hand in EUR million 1,600 1,200 1,304 1,132 Total Group revenues 1,372 1,220 1,446 1,344 Sales revenues in EUR million in EUR million EBIT Earnings 2012 HY Net profit HY Q Q * HY 2012* HY *adjusted IR-Presentation_HY_2013 because of IAS 19 R 19 0 in EUR million Q4 Q HY 2012 HY , % Order intake 1, % 1, %

20 Resources Equipment Construction 4 Financials Revenues, earnings & orders per segment in EUR '000 Q2 2012* Q Q2 in % HY 2012* HY 2013 HY in % FY 2012* Total Group revenues 163, , % 320, , % 656,834 Sales revenues 144, , % 283, , % 579,069 Orders in hand 484, , % 513,087 EBIT 4,260 2, % 6,537 3, % 22,025 EBIT margin (in %) n/a n/a 3.8 Net profit 1,083 4,652 n/a -1, n/a 8,586 in EUR '000 Q2 2012* Q Q2 in % HY 2012* HY 2013 HY in % FY 2012* Total Group revenues 150, , % 291, , % 596,086 Sales revenues 108, , % 202, , % 520,576 Orders in hand 135, , % 113,084 EBIT 6,757 1, % 11,741 5, % 33,976 EBIT margin (in %) n/a n/a 6.5 Net profit 1,239-2,830 n/a 965-5,303 n/a 8,896 in EUR '000 Q2 2012* Q Q2 in % HY 2012* HY 2013 HY in % FY 2012* Total Group revenues 65,493 54, % 123,592 94, % 263,916 Sales revenues 66,277 52, % 119,914 86, % 244,273 Orders in hand 158, , % 158,827 EBIT 1, % 992-1,850 n/a 15,196 EBIT margin (in %) n/a n/a 6.2 Net profit -1, n/a -3,639-4,513 n/a 5, *adjusted IR-Presentation_HY_2013 because of IAS 19 R 20

21 Net financial 4 Financials Working capital needs & net debt in EUR million Net working capital Bauer s business model with its three segments requires considerably more working capital than other companies in construction markets. Changes during the year: - Levels of working capital in the balance sheet during the year are typically higher than year-end positions in EUR million debt Pensions Net financial debt & pensions HY 2012 HY * 77* Construction segment: - Construction contracts with short duration need approx. 2-3 months pre-financing (no advance payments, no front-loading of prices possible, comparably long time needed for final account settlement). Comparison with main contractor: they can finance their company by a positive cash flow from jobs. Resources segment: - A mixture of the Construction and Equipment segments HY 2012 HY 2013 *adjusted because of IAS 19 R 21

22 Contract value Contract value 4 EUR EUR Financials Working capital needs & cash flow Building construction positive cash contribution Positive cash contribution months Specialist foundation engineering pre-financing need Negative cash contribution Negative cash contribution Equipment segment: - Due to very special parts being installed, parts need to be pre-ordered well in advance approx. 3 months pre-financing of equipment during production. - Spare parts store is needed for large customer base. - A relatively large rental fleet is needed for different contract types (e.g. rental purchase). - Deep drilling rigs add large numbers in value. Special items related to net debt: - Successful reduction of net debt level by the end of 2012 through different measures to lower inventory position. - Special effects of 2011 and 2012 are still on-going and keep net debt position somewhat higher months - With planned increase in revenues, we do not expect a lower net debt level end of 2013 compared to

23 4 Financials Income statement HY 2013 in EUR '000 HY 2012 * HY 2013 HY in % FY 2012 Consolidated revenues (P&L) 678, , % 1,385,862 Sales revenues (P&L) 605, , % 1,344,421 Material costs -346, , % -686,834 Personnel costs -157, , % -324,989 Depreciation and amortization of fixed assets -36,625-38, % -76,403 Write-downs of inventories due to use -7,754-4, % -15,392 Other operation expenses -111, , % -210,240 EBIT 19,426 8, % 72,004 Financial income 1,843 6,277 n/a 5,972 Financial expenses -22,242-21, % -44,657 Result from associated entities n/a 5,549 Profit before tax (EBT) ,145 n/a 38,868 Income tax -2, n/a -13,095 Net income -2,782-7,934 n/a 25,773 of which attributable to shareholders of Bauer AG -1,984-7,716 n/a 24,739 of which minority interest n/a 1,034 *adjusted because of IAS 19 R 23

24 4 Financials Balance sheet June 30, 2013 in EUR '000 June 30, 2012 * June 30, 2013 in % Dec 31, 2012 Assets 1,640,175 1,677, % 1,529,404 Intangible assets 32,345 34, % 34,567 Property, plant and equipment 472, , % 465,316 Long term financial assets 18,493 22, % 23,617 Other long term assets & deferred taxes 34,328 42, % 36,758 Receivables from concession arrangements 44,830 38, % 40,770 Inventories 516, , % 429,794 Receivables and other assets 467, , % 448,836 Effective income tax refund claims 5,831 5, % 4,514 Cash and cash equivalents 47,265 54, % 45,232 Equity and liabilities 1,640,175 1,677, % 1,529,404 Equity 445, , % 462,784 Pension provisions 74,892 82, % 80,080 Non-current liabilities 428, , % 493,156 Current liabilities 669, , % 471,799 Other provisions (a) / tax 22,507 21, % 21,585 (a) Other provisions also include short term portion of pension provisions *adjusted because of IAS 19 R 24

25 4 Financials Cash flow statement HY 2013 in EUR '000 HY 2012 HY 2013 HY in % FY 2012 Operating cash flow -49, ,934 n/a 165,713 Investing cash flow -47,533-32,738 n/a -76,187 Financing cash flow 119, , % -68,008 Free Cash Flow -96, ,672 n/a 89,526 Changes in liquid funds affecting payments 22,956 7, % 21,518 Influence of exchange rate movements on cash ,305 n/a -1,233 Total change in liquid funds 22,318 8, % 20,285 Cash at beginning of reporting period 24,947 45, % 24,947 Cash at end of reporting period 47,265 54, % 45,232 25

26 5 Guidance 2013 Top-line growth with a decrease in profitability 2012e* 2012 final 2013e Total Group Revenues ~ 1,450 EUR million 1,446 EUR million ~ 1,500 EUR million EBIT ~ 76 EUR million 71.4 EUR million ~ 70 EUR million Net profit EUR million 25.3 EUR million ~ 20 EUR million * Guidance published November 14, 2012 Merdeka station Kuala Lumpur, Malaysia Bauma 2013, Munich Water treatment plant Nimr, Oman 26

27 Appendix A History of Bauer p. 28 B Construction projects p. 30 C Equipment programme p. 35 D Resources projects p. 40 E Market environment Germany p. 43 F BAUER share p. 44 G Key Figures Time Line p

28 A History of Bauer Two centuries of experience After WW II (1950's): Start of construction business End of 1970 s: Start of internationalisation Early 1980 s: Selling of equipment to third parties 4. Jul 2006: IPO Sept 2006: Admittance in SDAX FY 2012: Total Group revenues EUR billion, 10,253 employees Company founded as copper forge Early 1970 s: Start of equipment manufacturing Early 1990 s: Build up of specialist construction/ environmental business 28

29 A Bauer s home base Headquarters and plant Schrobenhausen, Germany 29

30 B Construction Sydney, Australia Pile foundation for office complexes Sydney Aerial Photography 30

31 B Construction Kuala Lumpur, Malaysia Diaphragm wall for MRT stations 31

32 B Construction Singapore Foundation works for Market Street Tower 32

33 B Construction Munich, Germany Tunnel for Mittlerer Ring 33

34 B Construction Lenggries, Germany Strengthening works on Sylvenstein dam 34

35 C Equipment Product range: Drilling rigs (BG-systems) The ValueLine and the PremiumLine were introduced as two product lines with the goal of even better satisfying various requirements of customers. Both lines of drilling rigs have some basic principles in common, which are dealt with utmost priority, such as: Quality economic efficiency and performance service friendliness highest safety levels environmental awareness long life expectancy ValueLine The BG ValueLine is a fully dedicated Kelly drilling rig. Long mast for more drilling depth Increased drill axis distance for larger drilling diameter High line pull of winches Increased torque Fuel-efficient diesel engine PremiumLine The BG PremiumLine comprises multi-purpose drilling rigs for various applications of foundation works. TIER IVi engines for all rights (optional) Main winch with high line pull and wide winch drum Most advanced electronic systems Variably stackable counterweight elements Safety rails upper level and walkway lower level with rails 35

36 C Equipment Product range: Foundation Cranes MC 32 MC 96 MC

37 C Equipment Product range: Deep Drilling RB 50 TBA 100 TBA 300/440 M1 37

38 C Equipment Product range: Underwater Drilling 38

39 C Equipment Bauma 2013 Munich, Germany 39

40 D Resources Materials Amman, Jordan Drilling works and installation of production wells 40

41 D Resources Exploration and Mining Services Canada Diavik Mine Oil drilling rig of Site Goup Tulves, South Tyrol 41

42 D Resources Environment One third of total area visible Oman Reed Bed Water Treatment Plant 42

43 E Market environment Germany German construction market Employees in ,7 184,2-43,1 2,1-0,4-58,8-0,5-2,7 Revenues in EUR billion 72,0 20,6-8,9 1,2-4,7-33,3-1,9-12,1 Building construction 47,5 11,7-9,2 2,3-3,6-42,3 1,8-10,7 Foundation engineering 24,5 9,0-7,1-1,0-7,1-17,4-6,3-14,4 Orders received * in EUR billion Housebuilding 8,6 1,8-46,8 9,4-1,0-63,0 8,4 19,6 Industrial building 18,5 5,3-9,4 5,8-2,3-46,7 3,1-2,9 Public sector Absolute Figures 2012 West- Germany May 2013 East- 2012/ 2012/ Jan-May Germany 42,6 11,9-25,3 West Germany Change in % 2013/2012 7,5-0,3-51,9 East Germany 2012/ 2012/ Jan-May / ,5 4,8-24,4 8,6 2,4-46,9 4,3-0,9 of which public buildings 2,7 1,0-45,0-3,1 9,4-56,3 8,8-11,5 road building 7,2 2,2 6,1 7,5 0,8-26,3 1,1 12,7 underground structures 5,6 1,6-36,7 17,0 1,3-52,3 6,1-11,1 4,3 1,3 *) only companies > 20 employees Source: Federal Statistical Office, Statistical Office Bavaria 43

44 5 BAUER share Facts & Figures Listed on Frankfurt stock exchange, Prime Standard, since July 4, 2006 Share performance (07/ /2013) SDAX Share capital EUR 73,001, Shares issued 17,131,000 DAX BAUER AG Issue price EUR Trading volume Listed in SDAX (MDAX from to ) Shareholder structure in EUR Earnings per share * --- Bauer family % Free float % Share price year end Share price highest Share price lowest Market Cap (in EUR million) ~300 *adjusted because of IAS 19 R 44

45 5 BAUER share Dividend policy Dividend payment (in EUR per share) Dividend policy founded on a reasonable balance between shareholders and company fair participation of shareholders continuity over the years safeguarding of the equity base All shareholders shall participate in the success of the business In turbulent times such as the financial crisis our goal of strategic and safe growth of the company led to slightly higher profit retention for the last years. To secure an adequate equity ratio is an important aim of the company s management. With this we intend to safeguard the long-term success of the Group. 45

46 G Key Figures Time Line Q Q Total Group Revenues (in EUR million) BAUER Group 1.527, ,8 331,9 369,7 341, ,0 307,4 332,4 369,1 362, ,8 340,0 361,6 361,7 382, ,6 331,2 393,3 Construction 700,9 570,0 167,7 176,5 146,1 615,4 124,4 146,1 164,0 172,1 606,6 156,9 163,4 163,7 172,8 656,8 153,6 193,7 Equipment 780,1 608,5 138,8 160,3 169,4 581,7 159,8 154,6 153,9 168,1 636,5 140,7 150,5 153,0 151,9 596,1 152,6 158,2 Resources 135,1 174,3 41,7 47,3 53,1 177,7 39,1 56,4 67,2 48,8 211,5 58,1 65,5 67,7 72,6 263,9 39,2 55,0 Sales Revenues (in EUR million) BAUER Group 1.290, ,5 313,1 315,3 287, ,7 255,4 294,7 324,8 344, ,6 286,2 319,2 328,5 410, ,4 262,6 345,7 Construction 584,3 487,9 141,6 155,4 94,8 505,8 112,8 126,6 136,0 130,8 506,2 138,8 144,4 148,3 147,6 579,1 124,4 168,1 Equipment 601,2 456,5 132,2 118,9 148,3 469,3 108,1 116,7 121,5 165,0 511,4 93,6 108,4 124,1 194,5 520,6 104,1 125,4 Resources 105,1 152,0 39,3 41,0 44,1 156,4 34,4 51,4 67,1 48,6 201,5 53,6 66,3 56,0 68,4 244,3 34,0 52,1 EBIT (in EUR million) BAUER Group 167,5 84,4 21,6 28,6 32,6 88,4 6,7 21,6 23,2 30,8 82,3 6,4 13,0 26,3 26,3 72,0 2,3 6,1 Construction 46,3 25,7 6,7 12,9 6,3 28,8-1,2 4,5 6,6 8,0 17,9 2,3 4,2 9,7 5,8 22,0 0,3 2,9 Equipment 118,3 51,3 13,7 11,6 20,4 48,3 9,2 13,7 11,3 18,7 53,0 5,0 6,8 8,6 13,6 34,0 3,8 2,0 Resources 4,0 6,0 1,5 3,3 3,2 8,1-0,6 3,4 5,4 2,7 10,9-0,6 1,6 7,7 6,5 15,2-2,4 0,5 EBIT margin (in %) Q2 10 Q2 10 Q3 10 Q4 10 Q2 10 Q3 10 Q4 10 Q2 10 Q3 10 Q4 10 Q3 10 Q Q1 11 Q2 11 Q3 11 Q Q1 11 Q2 11 Q3 11 Q Q1 11 Q1 11 Q2 11 Q2 11 Q Q1 12* Q2 12* Q3 12* Q4 12* BAUER Group 13,0% 7,7% 6,9% 9,1% 11,3% 7,8% 2,6% 7,3% 7,1% 8,9% 6,7% 2,3% 4,1% 8,0% 6,4% 5,4% 0,9% 1,8% Construction 7,9% 5,3% 4,7% 8,3% 6,6% 5,7% -1,1% 3,6% 4,9% 6,1% 3,5% 1,7% 2,9% 6,5% 3,9% 3,8% 0,2% 1,7% Equipment 19,7% 11,2% 10,4% 9,8% 13,8% 10,3% 8,5% 11,7% 9,3% 11,3% 10,4% 5,3% 6,3% 6,9% 7,0% 6,5% 3,7% 1,6% Resources 3,8% 3,9% 3,8% 8,0% 7,3% 5,2% -1,7% 6,6% 8,0% 5,6% 5,4% -1,1% 2,4% 13,8% 9,5% 6,2% -7,1% 1,0% Q3 11 Q3 11 Q Q1 12 Q1 12 Q2 12 Q3 12 Q2 12 Q4 12 Q3 12 Q Q1 12* Q2 12* Q3 12* Q4 12* * 2012* Q1 13 Q1 13 Q1 13 Q1 13 Q2 13 Q2 13 Q2 13 Q2 13 *adjusted because of IAS 19 R 46

47 BAUER Aktiengesellschaft Financial calendar 2013 Publication Annual Report 2012 April 11, 2013 Annual Press Conference April 11, 2013 Analyst Conference April 11, 2013 Annual General Meeting June 27, 2013 Interim Report to March 31, 2013 May 15, 2013 Half-Year Interim Report to June 30, 2013 August 14, 2013 Interim Report to September 30, 2013 November 14, 2013 Investor Relations BAUER Aktiengesellschaft BAUER-Straße Schrobenhausen Germany ISIN Reuters Bloomberg DE B5AG.DE B5A GR Listing SDAX, CDAX, GEX, Classic All Share Prime All Share DAXplus Family Tel.: Fax: investor.relations@bauer.de Get the BAUER App for iphone and ipad Visit us on YouTube: 47

48 Disclaimer This presentation contains forward-looking statements. Forward-looking statements are statements that are not historical facts, including statements about our beliefs, intentions, expectations, predictions and the assumptions underlying them. These statements are based on factors as they are currently available to the management of BAUER AG and therefore speak only as of the date they are made. We assume no liability to update publicly or conform any of them to future events or future developments. Forward-looking information is subject to various known and unknown risks and uncertainties, which could lead to material differences between the actual future results, financial situation, development or performance of the BAUER Group and those factors contained in any forward-looking statement. In view of these uncertainties, no assurance can be given that these forward-looking statements will prove accurate and correct, or that anticipated and projected future results will be achieved and we caution you not to place undue reliance on these forward-looking statements. 48