profitable growth through acquisitions · johnson screens targets comprehensive solutions: products...

Profitable growth through acquisitions Roland Koch | Chief Executive Officer Joachim Müller | Chief Financial Officer

Telephone conference press

January 18, 2013

Growth strategy

Profitable growth through acquisitions | January 18, 2013 page 2

Internal value creation / organic growth

Growth through acquisitions

Growth through innovation

Output volume €160 million Employees 1,200 Industries ▪ Drinking water processing ▪ Wastewater treatment ▪ Oil and gas industry

Markets North America, Europe and Asia-Pacific

Components for the separation of solids from liquids and gases

Associated services

Filter system for drinking water processing Canberra | Australia

Johnson Screens Minneapolis | United States

page 3 Profitable growth through acquisitions | January 18, 2013

▪ Johnson Screens targets comprehensive solutions: Products and services for the entire process lifecycle

▪ In addition to engineering and components, Johnson Screens offers on-site services such as: ▪ Erection ▪ Acceptance ▪ Repairs ▪ Customer care ▪ Monitoring ▪ Spare parts service

Filter system for wastewater treatment Abbazia | Croatia



Johnson Screens in the Bilfinger Group ▪ Further internationalization of the

water and wastewater technology business of Bilfinger Water Technologies

▪ Together with activities that already exist in the Group, a leading global supplier of components and services in nearly all areas of water and wastewater technology is created

▪ Complementary product lines and geographical presence

▪ Synergies in technology and sales Filter system for wastewater treatment Porirua | New Zealand



Comments

▪ Value drivers for mature markets: renewal and investments for efficiency enhancements

▪ Value drivers for emerging markets: new investments triggered by population growth and water shortages/pollution spare parts service

Market analysis: global water market¹ Above-average growth in North America, Middle East and South Asia forecast


CAPEX² in water market (2010 & 2016 | in € billion)

2010 2016

141

202

2010 2016

2010 20162010 2016

2010 2016

2010 2016

2010 2016

2010 2016

2010 2016

24 43

6 10

3 4

30 38 6 8

51 67

3 4

17 26

North America

Western Europe

Eastern Europe/

Central Asia

East Asia

South Asia

Middle East/ North Africa

Latin America/ Caribbean Sub-Saharan

Africa

Total capex

CAGR

+6.2%

+10.2% +4.0%

+6.2%

+4.5%

+9.8%

+7.6%

+3.2%

+8.1%

ROW 2010 2016

1 2

+4.9% 1) Maintenance (50%), integration & installation civi, system engineering, technology products 2) Equipment and industrial manufacturing

Source: GWI, Roland Berger

Vacuum sanitation system, Palm Island Jumeirah Dubai | UAE

Bilfinger Water Technologies Status 2012


Output volume €150 million

Employees 760

Industries

▪ Water and wastewater treatment ▪ Vacuum sanitation systems ▪ Water extraction ▪ Filtration

International supply and services business

Shell grab rakes for water extraction station Singapore

Bilfinger Water Technologies Status 2012


Markets Europe, North America, MENA

Clients Public sector and industry

Machinery and facility service

Plant and process optimization

Global leader in industrial filtration

Market leader in vacuum sanitation systems

Reference project Chamber filter system for sludge dewatering Main sewage treatment plant Wiesbaden | Germany


Reference project Filter presses for sediment dewatering Port of Antwerp | Belgium


With the acquisition of Johnson Screens, Bilfinger Water Technologies becomes the leading global components specialist in nearly all areas of water and waste-water technology with a balanced product portfolio and a very broad geographic presence:

Synergy effects from system solutions in complementary markets

Future joint presence


Production Passavant Geiger Production Johnson Screens

Sales offices Passavant Geiger Sales offices Johnson Screens

Passavant-Geiger HQ

Johnson Screens HQ

38% Europe 28% North America 14% Asia/Pacific

10% MENA 8% Other 3% South America

Profitable growth through acquisitions since 2nd half of 2011


Alpha-msr, Germany

ARE IS, Finland

AxEnergy, Germany

EMV, Germany

HG Group, United Kingdom

Neo Structo, India

Tebodin, Netherlands

Westcon, United States

Industrial

AE&E, Czech Republic EnviCon, Germany

Mauell, Germany

Rosink, Germany

Power

Actys, Netherlands

Argo Neo, Germany

Diemme, Italy

HT FM, Ireland

Johnson Screens, United States

PKSB, Germany

ProfiMiet, Germany

Rollright, United Kingdom

Schnabel / Karnasch, Germany

Sielv, Italy

Building and Facility



Regional expansion:

Neo Structo, India Westcon, USA

Regional expansion:

Actys, Netherlands Diemme, Italy HT FM, Ireland Johnson Screens, United States Rollright, United Kingdom Sielv, Italy

Expansion in sustainable high-margin sectors (Germany):

Argo Neo, Germany PKSB, Germany ProfiMiet, Germany Schnabel / Karnasch, Germany

Expansion in oil and gas sector, engineering, I&CT:

Alpha-msr, Germany ARE IS, Finland AxEnergy, Germany EMV, Germany HG Group, United Kingdom Tebodin, Netherlands

Complementing the service range:

AE&E, Czech Republic EnviCon, Germany Mauell, Germany Rosink, Germany

Industrial Power Building and Facility

Regional expansion:



Enterprise value: €700 million


Output volume: €500 million

Employees: 6,500

Average EBITA multiple:

7.8

Bilfinger SE



Employees: 1,000



Employees: 2,500

Employees: 10,000

Output volume: €1 billion

Industrial Power Building and Facility

Growth strategy Continuation of successful acquisition strategy

Expanding and complementing our service portfolio

Opening up new regional markets

Strict acquisition criteria remain in place: Acquisitions must ▪ be relevant for the further implementation of our strategy ▪ be led by a strong management team ▪ show sustainable business success ▪ make a positive contribution to Group earnings from the beginning

and earn the cost of capital

Maintaining these criteria in the past has ensured that all acquired companies could be successfully integrated into the Group


Growth through acquisitions

After the acquisition of Johnson Screens, about €850 million remains available for future acquisitions

▪ Bilfinger is advancing its research and development activities in order to open up attractive markets with new technologies

▪ Internal start-ups have been founded for new products and services that are ready for market

▪ The majority of the projects are targeted toward innovative solutions

for climate protection and resource conservation ▪ Energy efficiency in power plants and industrial facilities ▪ Reducing energy requirements in buildings ▪ Lowering emissions ▪ Using regenerative energy sources

Profitable growth through innovation


▪ Through its own venture capital company, Bilfinger is also acquiring external expertise that fits in with the strategic focus of the Group ▪ First investment: clean-tech start up sunfire

▪ Lead investor in early stage financing together with the ERP Startfond from KfW

▪ Total investment €8 million, Bilfinger share: €2.5 million

▪ Development and distribution of solutions for an efficient energy supply for the future in a closed carbon cycle

▪ Converting regenerative electricity to ▪ liquid fuel (power-to-liquids) ▪ gas (power-to-gas)

Profitable growth through innovation


Profitable growth through acquisitions Roland Koch | Chief Executive Officer Joachim Müller | Chief Financial Officer

Telephone conference press

January 18, 2013

profitable growth through acquisitions · johnson screens targets comprehensive solutions: products...

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