The Company Design Build Service 2015/16
2 Financial Report 2015/16 The forty-seventh financial year began on 1 April 2015 and ended on 31 March 2016.
Geschäftsbericht Financial Report 2015/16 3 409 buildings 2,078 (million euros) total turnover 4,198 (annual average) employees
4 Summary Statement Our financial year Summary statement successfully closed the 2015/16 financial year with record highs in new orders and total turnover. The current 2016/17 financial year started out for with another considerable increase in the volume of orders in hand and, once again, a very gratifying level of new orders. The Group can look back on a successful 2015/16 financial year. New records have been set for new orders and total turnover and the forecasts of the previous year were exceeded. The result is satisfactory, even though it was not possible to reach the record level of the previous year. Against the background of a heterogeneous development 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 rate thanks to the company s extensive sales organisation as well as precisely defined and progressively developed products. The company started out the current 2016/17 financial year with another considerable increase in the volume of orders in hand and, once again, a very gratifying level of new orders. Unless the overall economic situation in the serviced markets further deteriorates dramatically owing to external shocks, the company expects to be able to further increase total turnover and earnings. Shortterm compensation measures have been introduced to cope with existing production capacity bottlenecks, and capacity expansions are being planned. The stable assets and financial situation of the Group continue to contribute substantially to its independence and future-proofing. Total turnover in EUR millions 2,400 2,200 2,000 1,800 1,600 1,400 1,200 1,000 800 600 400 200 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 2020
Business Performance 5 Business performance With a positive outlook for both the economy as a whole but a heterogeneous environment for the construction industry, the Group also continued to develop successfully in the serviced markets in the past financial year. The company was able to benefit to a certain extent contrary to the trends in the construction industry, by focusing clearly on the system-based products. New orders grew once more by 211 million and reached just under 2.3 billion. 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 10.5% to 2,078 million on the back of this business development, representing another record high in the company s history. remains the market leader in a number of countries in the areas of logistics halls and car parks. New orders and total turnover Figures in millions 2015/16 2014/15 2013/14 2012/13 2011/12 New orders 2,285 2,074 1,695 1,433 1,393 Total turnover 2,078 1,881 1,573 1,346 1,292 s regional companies in Germany were able to continuing growing despite the downturn in the construction industry and successfully managed to further enhance their market position. Consolidated total turnover increased by 16.4% and contributed disproportionately to the growth of the corporate Group. Almost all German regional companies had exceeded their new orders targets at the close of the 2015/16 financial year and generated almost 1.8 billion in new orders. Almost all German regional companies had exceeded their new orders targets at the close of the 2015/16 financial year.
6 Business Performance Business performance With the overall favourable economic and construction environment in Europe, International GmbH and its holdings were able to strengthen their leading position in industrial and logistics construction in the Eastern European markets. was also successful on the market in the United Kingdom, Austria and Switzerland. New orders increased accordingly from almost 350 million in the previous year to over 430 million. Through their integrated consultancy service, Gebäudemanagement GmbH and PROCENTER GmbH secure the long-term sustainability of real estate and thereby enable clients to focus on their respective core business. The consolidated total turnover for the business division increased by more than 20% to its present level of 51.8 million. The consolidated total turnover of Bauen im Bestand GmbH amounted to about 16 million in the last financial year. Furthermore, construction services of around 11 million were delivered for affiliated companies. Public Partner GmbH continued to perform well. Positive value contributions were generated from operation of the previously acquired projects. The Parking Services GmbH division, which has been under development for two years, was strengthened for the long term at the end of the reporting period by the acquisition of the majority share in the national company OPG Center Parking GmbH, based in Osnabrück. The 2015/16 financial year for Solar GmbH was again characterised by a number of different market situations. While the domestic business recovered at an overall low level, the market situation in the United Kingdom was marked by the expiry of the financial support conditions on 31 March 2016. The financial solidity of the Group was helpful in terms of executing projects that were still worthy of support. Overall, Solar GmbH realised a consolidated total turnover of around 141 million domestically and internationally in the past financial year and thereby achieved a positive result. The occupancy rates of Immobilien GmbH and its affiliated subsidiaries remain stable with positive operational results being generated.
Business Performance 7 Overall, the internal production capacities were heavily utilised in the past financial year thanks to the positive level of new orders, whereby it was possible to compensate for order peaks through the increased deployment of temporary workers and through subcontracting. In-house production capacities were utilised intensively in general in the past financial year thanks to the positive new orders situation. The trends illustrated for the individual sectors show that succeeded once again in the 2015/16 financial year in holding its own in the serviced markets and further expanding previously established positions. A satisfactory result was successfully generated overall. The Group remains well equipped for the future thanks to a product portfolio based on construction systems and the existing service offering. The sustained growth achieved by the Group also led to the creation of further 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 sustained growth achieved by also led to the creation of further new jobs in the past financial year. Average number of employees 2015/16 n n n n n n n n n n n n n n n 4,198 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
8 Asset Situation Asset situation The development of important key figures in relation to the asset and financial situation can be depicted as follows in comparison: Figures for the asset and financial situation Figures in 2015/16 2014/15 2013/14 2012/13 2011/12 Total assets millions 915 868 736 608 527 Equity capital millions 567.7 462.0 366.0 327.6 285.4 Equity ratio % 62.0 53.3 49.7 53.9 54.2 In view of the repeated strong growth in the Group, the balance-sheet total increased only moderately by 47 million or 5.4%. While equity increased by 105.1 million, on the liabilities side accruals fell by 32.9 million and liabilities decreased by 30.0 million. continues to be very solidly financed, which will guarantee stability for the company even in difficult economic phases. The equity ratio increased by 8.7 percentage points due to the carrying forward of the previous year s results. continues to be very solidly financed with equity capital of around 568 million, which will guarantee stability for the company even in difficult economic phases. A total of around 21.2 million was invested in intangible assets and property, plant and equipment in the past financial year.
Opportunities and Outlook 9 Opportunities and outlook remains well positioned in the current year in the serviced markets for turnkey construction. As a privately owned, medium-sized group, our goal is to achieve further growth, above and beyond the overall economic trend. continues to acquire orders very successfully. This is based on intensive market and target group cultivation combined with continuous enhanced development of products and services. With higher targets compared to planning for the 2015/16 financial year, therefore expects to achieve the planned level of new orders ( 2,057 million, previous year 1,798 million) in the current 2016/17 financial year. The level of new orders for the Group amounted to 912 million at the end of June 2016 (3 months). This corresponds to over 44% of the value planned for the entire year. 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 in hand of about 3 billion (previous year 2.1 billion). Some 1,161 million (previous year 824 million) of this has already been completed. is countering the capacity bottlenecks that have arisen in the internal production area due to the strong increase in the order volume on the one hand with further process optimisations and the specific planning for a production site for steel construction in Poland. On the other hand, the construction of a third plant for precast concrete elements in Germany is also being examined. 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 future also and continue to develop progressively 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 continued moderate growth in total turnover and earnings in the current 2016/17 financial year, assuming extreme political and overall economic effects or a very hard winter do not prohibit this. is expecting further moderate growth in total turnover and earnings in the current 2016/17 financial year. Bielefeld, 29 July 2016
10 General Information General information 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.
Consolidated Balance Sheet 11 Consolidated balance sheet as of 31 March Assets Figures in T 31.03.2016 31.03.2015 A. Fixed Assets I. Intangible fixed assets 16,229 2,770 II. Property, plant and equipment 97,643 89,710 III. Financial assets 258,074 252,288 371,946 344,768 B. Current Assets I. Inventories 16,142 0 II. Receivables and other assets 199,325 214,486 III. Securities 28,445 35,873 IV. Cash in hand, bank balances 295,698 265,234 539,610 515,593 C. Prepaid Expenses 3,737 1,356 D. Deferred Tax Assets 0 6,523 915.293 868.240 Liabilities Figures in T 31.03.2016 31.03.2015 A. Equity Capital I. Subscribed capital 50,000 50,000 II. Other equity 517,744 412,612 567,744 462,612 B. Accruals 173,427 206,310 C. Accounts Payable 169,109 199,150 D. Prepaid Income 811 168 E. Deferred Tax Liabilities 4,202 0 915,293 868,240
12 Company Structure GmbH Company structure Regional companies and turnkey construction facilities Nord GmbH Ost GmbH Nordost GmbH Süd GmbH Südwest GmbH West GmbH Bielefeld Nuremberg Berlin-Brandenburg Munich Frankfurt Rhineland / Düsseldorf Münster Regensburg Leipzig-Halle Rosenheim Karlsruhe Cologne Bremen Saxony / Dresden Magdeburg Lake Constance Koblenz Ruhr / Bochum Hamburg Saxony / Plauen Rostock Stuttgart Rhine-Neckar / Mannheim Hannover Thuringia / Erfurt Ulm Kassel Suhl Kiel Gießen
Company Structure 13 Other companies Construction element production International GmbH Birmingham / GB Bratislava / SK Bregenz / A Linz / A Salzburg / A Vienna / A Sankt Gallen / CH Krakow / PL Poznań / PL Prague / CZ Gebäudemanagement GmbH PROCENTER GmbH Public Partner GmbH Solar GmbH Bauen im Bestand GmbH Montage GmbH Immobilien GmbH Parking Services GmbH New Technologies GmbH Service GmbH Bauelemente Bielefeld GmbH Bauelemente Treuen GmbH Betonelemente GmbH, Hamm Betonelemente Süd GmbH, Ulm Prefabeton s.r.o. Topos Prefa Tovačov a.s.
14 Corporate Development Corporate development in figures (2012 2016) Total turnover +61% Number of employees +42%
Corporate Development 15 Equity capital +99% New orders +64%
GmbH Ummelner Straße 4 6 33649 Bielefeld, Germany Tel. +49 521 9488-0 www.goldbeck.de