11 capital market day bertrandt ag · source: airbus „global market forecast 2015 to 2034“ ......

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


Agenda

1. Business conditions

2. Market conditions for Bertrandt

3. Key figures for the first half of fiscal year 2015/2016

4. Outlook


Agenda




4. Outlook


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


Agenda




4. Outlook


OEM confronted with numerous market developments and technology trends


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


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


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)


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


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


Cross-industry trend Industry 4.0 Industry

Source: BITKOM | The Fraunhofer Institute for Industrial Engineering IAO


Agenda




4. Outlook


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


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


Revenues*(EUR million)

43.79642.206

0

10.000

20.000

30.000

40.000

50.000



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



29.85628.859

0

5.000

10.000

15.000

20.000

25.000

30.000

35.000

40.000



Earnings after income tax*(EUR million)

2,962.86

0

1

2

3

4



EPS*(EUR)


First half

FY 2014/2015

First half

FY 2015/2016

First half

FY 2014/2015

First half

FY 2015/2016



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



CAPEX* (EUR million)

11,85912,663

0

2.500

5.000

7.500

10.000

12.500

15.000



Employees*


First half


FY 2015/2016

First half


FY 2015/2016



1.026

20.775

0

5.000

10.000

15.000

20.000

25.000



Free Cashflow* (iEUR million)

33.057

62.456

0

10.000

20.000

30.000

40.000

50.000

60.000

70.000



Operating Cashflow*(EUR million)


First half

FY 2014/2015

First half


FY 2014/2015

First half

FY 2015/2016


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


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


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


Agenda




4. Outlook


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


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


Thank you for your attention!Bertrandt AG


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.

11 capital market day bertrandt ag · source: airbus „global market forecast 2015 to 2034“ ......

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