BAUER Aktiengesellschaft - BAUER Gruppe

© BAUER AG, D-86529 Schrobenhausen 11-11-14 IR-Presentation_9M2011

BAUER Aktiengesellschaft

Abu Dhabi, UAE – Foundation works for Presidential Palace

Group Presentation

First nine month

2011

© BAUER AG, D-86529 Schrobenhausen 11-11-14 IR-Presentation_9M2011 2

Total Group revenues (in EUR million)

1,527 1,276 1,304 963

2008 2009 2010 9M 2010

1,600

1,200

800

400

0

2008 2009 2010 9M 2010

Orders in hand (in EUR million)

671.6 508.9 614.9 588.5 800

600

400

200

0

Net profit (in EUR million)

107.5 42.0 39.8 21.0

2008 2009 2010 9M 2010

120

90

60

30

0

Key Figures 9M 2011

2008 2009 2010 9M 2010

Employees (in average)

8,674 8,872 9,094 8,962 10,000

7,500

5,000

2,500

0

9M 2011

1,009

9M 2011

14.2

740.0

9M 2011

9,603

9M 2011


Mission & Strategy

Services, equipment & products dealing with ground

and groundwater

Our mission

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 12 % per year.

Tottenham Court Road – London, Great Britain


Key Figures 9M 2011

9M 2010

in EUR million

9M 2011

in EUR million

∆ 9M

in %

Total Group revenues, of which

- Germany

- International

- Construction

- Equipment

- Resources

- Consolidation / Other

962.6

250.0

712.6

469.3

412.3

124.6

- 43.6

1,008.9

263.6

745.3

415.7

487.1

162.7

- 56.6

4.8 %

5.4 %

4.6 %

- 11.4 %

18.1 %

30.6 %

n/a

Sales revenues 844.4 874.9 3.6 %

Equity ratio in % 30.5 29.5 n/a

Orders received 1,042.1 1,134.0 8.8 %

Orders in hand 588.5 740.0 25.8 %

EBITDA 110.2 112.5 2.1 %

EBIT 55.8 51.5 - 7.7 %

EBIT margin in % (of sales revenues) 6.6 5.9 n/a

Net income 21.0 14.2 - 32.6 %

Earnings per share in EUR 1.01 0.70 - 30,7 %

Number of employees (average over the year) 8,962 9,603 7,2 %


Contents

Regional breakdown of Revenues 3

Overview BAUER Group 1

BAUER market environment 2

p. 6

p. 13

p. 15

Financials 4

5 Guidance 2011

6 Appendix

p. 17

p. 25

p. 26


Resources

Construction Equipment

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

85 % of revenues

from sales abroad

Multi-branding

strategy

Target ~ 40 % of


Global provider for

specialist foundation

engineering and

services in the field of

infrastructure and

engineering works

Focus on complex,

international projects

Target ~ 20 % of


Activities in the field of

environmental services,

mining, geothermal

energy, well drilling and

well engineering materials


What is specialist foundation? Building an excavation pit

1

Ground Water

Injection Anchor

Sealing Slab

Supporting Wall

Underpinning

Injection

Pile Foundation


What is specialist foundation used for? Applications for projects

1

Foundations Cut-off walls Excavation pits

Buildings Infrastructure Water – Energy Industry

Ground improvement


Resources Segment The three divisions

1

Environment about 36 % of revenues*

Exploration & Mining

Services about 26 % of revenues*

Materials about 38 % of revenues*

Full-line provider for

materials in the field of

well construction

geothermal energy

distribution of gas/water/

geothermal energy

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 * based on figures 9M 2011


in EUR million (segment after decucting Other/Consolidation)

10

1

Note: 2000 – 2002 based on HGB figures, from 2003 based on IFRS figures

Resources

172

Equipment

533

Construction

Overseas

424

Total 1.304

Construction

Domestic

175

Total Group Revenues Longstanding healthy business development

German reunification

Far East crisis

Financial crisis


Worldwide network More than 110 subsidiaries in about 70 countries

1

BAUER Manufacturing Inc.

Conroe, Texas, USA

GWE Group, Peine, Germany

BAUER Maschinen KSM,

Kurgan, Russia

Shanghai BAUER Technologies,

Shanghai, China

BAUER Tianjin Technologies,

Tianjin, China

BAUER Group, plant Aresing near

Schrobenhausen, Germany

Permanent Offices:

Construction

Equipment sales

Resources

Equipment production

locations


1 BAUER Group Strengths & Chances

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.

Strengths

Chances

Construction segment with considerable number of major

infrastructure projects currently tendered for worldwide.

New growth potential in Equipment segment with entirely

new techniques such as deep drilling rigs and powerful

foundation crane series.

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. TBA 300 – Deep drilling rig


+

World construction markets Bauer market potential

2

13

-

Western Europe:

declining markets, Germany

weak for big projects +

+

++

Far East:

positive development

in all areas, especially

Hongkong, Singapore

+ Other Americas:

several chances in

Central America

o

Africa:

slight construction activities,

regional growth (Angola, Algeria);

demand for water and resources

Summary: Recovering market conditions worldwide at the end of the crisis; huge pent-up demand.

Specialist foundation construction grows relative to construction market.

Energy sector becomes main booster – also because of energy turnaround (renewable

energies & reduction of energy consumption); exploration and downstreamed stages:

Liquefaction plants (gas), refineries, power plants

Middle East:

stable, especially

Abu Dhabi, Qatar,

downturn in Dubai

Eastern Europe:

slowly positive development,

especially Russia

Central Asia:

India: dynamic

development

USA / Canada:

stimulus packages,

public demand,

power plants, dams, etc.

13

-- weak - slightly weak stable + growing ++ strong growth

-

+

o


Market environment Orders & Currency risks

2

Order backlog (Orders in hand) Currency Risks

Expected order intake

2011

Construction Germany

Construction International +

Equipment BAUER Maschinen GmbH

Equipment Subsidiaries

Resources +

-- weak - slightly weak adequate + well adequate ++ very well adequate

9M 2011 Reach in months

in relation to total

Group revenues

full year 2010

TOTAL

Construction

Equipment

Resources

EUR 740 million

EUR 424 million

EUR 137 million

EUR 179 million

6.8 months

8.3 months

2.8 months*

12.1 months

* incl. running small-type orders

Construction

Project size EUR 100,000 up to EUR 20 million

~ 50 / 50 infrastructure / large industrial buildings

~ 600 projects per year

Local financing (natural hedge) for project duration

Translation risk (consolidation) hedged

US$ business (~ 9 %) hedged, e.g. swaps

Equipment

~ 80 % of invoicing in EUR

US$ business (~ 10 %) hedged with permanent

translation of individual machines

Production expansion to US, China and others to

counteract currency risk Euro / US$ / RMB and

others


3 Regional breakdown Total Group revenues Jan – Sep 2011

in EUR million

Total 1,009

in EUR million

Africa 70 (5 %)

Americas 155 (12 %)

Asia-Pacific,

Far East & Australia

252 (19 %)

Middle East &

Central Asia 204 (16 %)

Germany 339 (26 %)

EU excl. Germany

153 (12 %)

Europe (other)

131 (10 %)

Total 1,304

Full year 2010

Africa 51 (5 %)

Americas 133 (13 %)

Asia-Pacific,


206 (20 %)

Middle East

& Central Asia 138 (14 %)

Germany 264 (26 %)

EU excl. Germany

119 (12 %)

Europe (other)

98 (10 %)


3 Regional breakdown Construction, Equipment, Resources Jan – Sep 2011

Figures after deducting Other/Consolidation

Construction segment Equipment segment Resources segment

in EUR million

Total 407 Total 440 Total 162

Africa 27 (7 %)

Americas 50 (12 %)

Asia-Pacific,


94 (23 %)

Middle East &


Germany 112 (27 %)

EU excl. Germany

44 (11 %)

Europe (other)

28 (7 %)

Africa 10 (2 %)

Americas 81 (18 %)

Asia-Pacific,


111 (25 %)

Middle East &


Germany 74 (17 %)

EU excl. Germany

64 (15 %)

Europe (other)

68 (16 %)

Africa 14 (9 %)

Americas 2 (1 %)

Asia-Pacific,


1 (1 %)

Middle East &


Germany 78 (48 %)

EU excl. Germany

11 (7 %)

Europe (other)

2 (1 %)


Revenues (in EUR million)

Earnings (in EUR million)

Financials Revenues, earnings & orders

4

1,276

1,096

2010 9M 2010

1,600

1,200

800

400

0

963

1,132

Total Group revenues Sales revenues

84.4

42.0

2010

180

135

90

45

0

88.4

39.8

EBIT Net profit

Orders in hand (in EUR million)

509

2010

800

600

400

200

0

615

Order intake (in EUR million)

Q1

Q2

Q3

Q4

2009

297

283

293

240

1,113

2009

1,527

1,291

2009

107.5

167.5

2009

672

2008

465

445

342

329

1,581 - 29,4 %

2008

2008

2008

2010

303

446

293

368

1,410 +26,7 %

9M 2011

1,304

1,009

844 875

55.8

21.0

51.5

14.2

9M 2010 9M 2011

9M 2010 9M 2011

588

740

364

2011

+8,8 %

332

438


Financials Working capital needs & net debt

4

Net debt (in EUR million)

2008 2009 2010

305

Ne

t fi

na

nc

ial

de

bt

Pe

ns

ion

s

44

446 520

46

49

Bauer’s business model with its three segments

requires considerably more working capital than

other companies in construction markets.

Changes during the year:

- Levels in balance sheet and income statement during

the year are typically higher than year-end positions.

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.

Net working capital (in EUR million)

2008 2009 2010

363 444 494

640

480

320

160

0

555 646

542 667

48

51

9M 2010 9M 2011

9M 2010 9M 2011


Building construction

Positive cash contribution

Specialist foundation engineering

Pre-financing need

Financials Working capital needs & cash flow

4

EUR

12 24 months

Positive cash

contribution

Negative cash

contribution

Co

ntr

ac

t va

lue

EUR

Negative cash

contribution

12 24 months

Co

ntr

ac

t va

lue

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.

Special items related to net debt end of 9M 2011:

- New deep drilling rig TBA 440 is finished and ready for

sales: approx. EUR 20 million.

- Regulations under IFRS for inventory financing: approx.

EUR 25 million (not acknowledged in balance sheet

September 30, 2010).

- As a result of an overestimated market growth for the

first nine months 2011, stock levels for equipment

became high. They will be reduced as much as possible

in accordance with stock needs for our sales strategy.


Financials Revenues Q3 / 9M 2011

4

in EUR '000 Q3 2010 Q3 2011 ∆ Q3 in % 9M 2010 9M 2011 ∆ 9M in % FY 2010

Total Group revenues 369.730 369.076 -0,2% 962.615 1.008.941 4,8% 1.304.017

Sales revenues, Construction 155.418 118.737 -23,6% 410.973 360.130 -12,4% 505.758

Sales revenues, Equipment 118.866 138.873 16,8% 320.932 361.572 12,7% 469.252

Sales revenues, Resources 41.000 67.137 63,7% 112.281 152.891 36,2% 156.398

Sales revenues, Other 94 68 -27,7% 256 276 7,8% 265

Sales revenues (external) 315.378 324.815 3,0% 844.442 874.869 3,6% 1.131.673

Consolidated revenues (P&L) 354.255 352.174 -0,6% 928.946 978.257 5,3% 1.255.600

Orders in hand 588.480 740.043 25,8% 614.936


Financials Earnings Q3 / 9M 2011

4

n/a not applicable (a) of sales revenues (b) pre-minorities

in EUR '000 Q3 2010 Q3 2011 ∆ Q3 in % 9M 2010 9M 2011 ∆ 9M in % FY 2010

EBITDA 46.276 44.151 -4,6% 110.178 112.482 2,1% 165.517

Margin (a) 14,7% 13,6% n/a 13,0% 12,9% n/a 14,6%

EBIT 28.583 23.208 -18,8% 55.828 51.509 -7,7% 88.355

EBIT margin (a) 9,1% 7,1% n/a 6,6% 5,9% n/a 7,8%

EBIT Construction segment 12.937 6.364 -50,8% 22.489 9.384 -58,3% 28.798

EBIT margin, Construction segment (a) 8,3% 5,4% n/a 5,5% 2,6% n/a 5,7%

EBIT Equipment segment 11.665 11.603 -0,5% 27.927 34.792 24,6% 48.283

EBIT margin, Equipment segment (a) 9,8% 8,4% n/a 8,7% 9,6% n/a 10,3%

EBIT Resources segment 3.364 5.410 60,8% 4.931 8.223 66,8% 8.075

EBIT margin, Resources segment (a) 8,2% 8,1% n/a 4,4% 5,4% n/a 5,2%

Net income (b) 14.971 8.609 -42,5% 21.022 14.172 -32,6% 39.789

Margin (a) 4,7% 2,7% n/a 2,5% 1,6% n/a 3,5%

Earnings per share (in EUR) 0,81 0,44 -45,7% 1,01 0,70 -30,7% 2,04


Financials Income statement September 30, 2011

4

in EUR '000 Sept 30, 2010 Sept 30, 2011 ∆ 9M in % Dec 31, 2010

Consolidated revenues (P&L) 928.946 978.257 5,3% 1.255.600

Sales revenues (P&L) 844.442 874.869 3,6% 1.131.673

Material costs -462.915 -493.725 6,7% -626.952

Personnel costs -212.543 -222.274 4,6% -282.506

Depreciation and amortization of fixed assets -47.521 -48.743 2,6% -64.914

Write-downs of inventories due to use -6.829 -12.230 79,1% -12.248

Other operation expenses -143.310 -149.776 4,5% -180.625

EBIT 55.828 51.509 -7,7% 88.355

Financial income 1.063 9.479 n/a 4.071

Financial expenses -26.618 -35.992 35,2% -36.400

Result from associated entities 1.227 -1.564 n/a 1.436

Profit before tax (EBT) 31.500 23.432 -25,6% 57.462

Income tax -10.478 -9.260 -11,6% -17.673

Net income 21.022 14.172 -32,6% 39.789

whereof attributable to shareholders of Bauer AG 17.218 12.063 -29,9% 35.029

whereof minority interest 3.804 2.109 -44,6% 4.760


Financials Balance sheet September 30, 2011

4

in EUR '000 Sept 30, 2010 Sept 30, 2011 ∆ 9M in % Dec 31, 2010

Assets 1.373.263 1.502.575 9,4% 1.337.749

Intangible assets 21.854 24.132 10,4% 23.261

Property, plant and equipment 422.776 444.988 5,3% 441.737

Long term financial assets 14.352 11.265 -21,5% 14.528

Other long term assets & deferred taxes 31.704 30.127 -5,0% 28.204

Receivables from concession arrangements --- 45.421 n/a 45.874

Inventories 426.123 500.936 17,6% 420.417

Receivables and other assets 413.166 410.278 -0,7% 329.109

Effective income tax refund claims 3.619 3.913 8,1% 7.006

Cash and cash equivalents 39.669 31.515 -20,6% 27.613

Equity and liabilities 1.373.263 1.502.575 9,4% 1.337.749

Equity 419.164 443.314 5,8% 443.866

Pension provisions 46.818 49.247 5,2% 47.380

Non-current liabilities 412.149 368.818 -10,5% 400.494

Current liabilities 466.064 612.285 31,4% 411.827

Other provisions / tax 29.068 28.911 -0,5% 34.182


Financials Cash flow statement 9M 2011

4

in EUR '000 9M 2010 9M 2011 ∆ 9M in % FY 2010

Cash flow from operating activities -27.901 -58.793 n/a 45.342

Cash flow from investing activities -35.131 -50.977 n/a -75.518

Cash flow from financing activities 63.488 115.423 81,8% 17.850

Free Cash Flow -63.032 -109.770 n/a -30.176

Changes in liquid funds affecting payments 456 5.653 n/a -12.326

Influence of exchange rate movements on cash 2.160 -1.751 n/a 2.886

Total change in liquid funds 2.616 3.902 49,2% -9.440

Cash at beginning of reporting period 37.053 27.613 -25,5% 37.053

Cash at end of reporting period 39.669 31.515 -20,6% 27.613


Guidance 2011 Top-line growth with higher profitability expected

5

2010e 2010 final 2011e

Total Group Revenues ~ 2009 level

(1.276 million EUR) 1.304 EUR million ~ 1.35 EUR billion

EBIT not guided 88.4 EUR million ~ 80 EUR million

Net profit 35 – 40 EUR million 39.8 EUR million > 30 EUR million

International airport – Doha, Qatar New power plant – Rotterdam, Netherlands Water treatment plant – Nimr, Oman


Appendix

Equipment programme C

Resources projects D

History of Bauer A

E Market environment Germany

F BAUER share

Construction projects B

p. 27

p. 29

p. 34

p. 39

p. 42

p. 43

G Key Figures Time Line p. 45


1790 · 1900 · 1902 · 1928 · 1948 · 1956 · 1958 · 1967 · 1969 · 1972 · 1975 · 1976 · 1984 · 1990 · 1992 · 1994 · 1998 · 2001 · 2010

History of Bauer Two centuries of experience

End of 1970’s:

Start of

internationalisation

Early 1990’s:

Build up of

specialist construction/

environmental business

FY 2010:

Total Group

revenues

EUR 1.304

billion,

9,094

employees

4. Jul 2006:

IPO

Sept 2006:

Admittance in

SDAX

A

Early 1970’s:

Start of equipment

manufacturing

Company founded as

copper forge

After WW II (1950's):

Start of construction

business

Early 1980’s:

Selling of equipment to

third parties

1790 1900-1970 1980-1990 2000-2010


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


Construction New Brunswick, Canada – Bridge foundation Route 1

B


Construction Vienna, Austria – New University of Economics

B


B Construction Florida/Okeechobee, USA – Remediation of Herbert Hoover Dike


Construction Munich, Germany – Tunnel for Mittlerer Ring

B


Construction Bielefeld, Germany – Foundation works at the University

B


Equipment BAUER Maschinen Group In-House Exhibition 2011

C


Equipment Product range: BG-systems (BG 12 H – BG 50)

C

Small-sized (BG 12 H – BG 18 H) Medium-sized (BG 20 H – BG 28) Large-sized (BG 36 – BG 50)

* Torque

BG 12 H

125 kNm*

BG 15 H

151 kNm*

BG 18 H

177 kNm*

BG 20 H

200 kNm*

BG 24 H

222 kNm*

BG 28

269 kNm*

BG 36

367 kNm*

BG 40

390 kNm*

BG 50

468 kNm*

BG 30

295 kNm*


C Equipment Product range: Foundation Cranes

MC 128 MC 64 MC 32


C Equipment Product range: Deep Drilling

RB 50 TBA 200 TBA 300


C Equipment Other products (examples: geothermal drilling, double rotary head drilling, pile driving)

KR 707 RG 25 S BG 24 H


Resources Materials Division

D

Amman, Jordan – Drilling works and installation of production wells


Resources Exploration and Mining Services Division

D

Canada - Highland Valley Copper Mine Jordan - Oil drilling rig

Canada – Diavik Mine


Resources Environment Division

D

Oman – Reed Bed Water Treatment Plant

One third of total area (6 km2) visible


West-

Germany

Employees in 1000 534,8 181,0 -45,8 1,7 0,2 -59,5 1,2 -0,1

Revenues in EUR billion 63,5 18,4 -19,7 -0,6 11,6 -40,4 0,6 12,9

Building construction 40,8 10,1 -21,9 0,1 13,7 -49,9 1,8 13,5

Foundation engineering 22,7 8,3 -14,1 -1,9 7,9 -23,4 -0,7 12,1

Orders received *

in EUR billion

Housebuilding 6,7 1,2 -59,0 9,1 22,2 -74,6 13,9 31,8

Industrial building 15,4 4,7 -24,9 5,5 12,4 -52,9 7,6 12,8

Public sector

of which

public buildings 3,1 0,9 -35,6 5,5 -12,6 -61,5 -4,8 3,2

road building 6,7 2,3 -1,4 -9,6 0,1 -24,4 -10,5 -4,0

underground structures 5,0 1,6 -43,4 -4,4 -3,0 -50,8 0,4 -11,7

*) only companies > 20 employees

Jan-Aug

Change in %

West Germany East Germany

2010/2010/

1994 2009

East-

Germany

2010/

36,9 10,7

2010/11August 2011 2010/ Jan-Aug

2010/11

6,6-35,4

1994

7,5

2009

1,6 -56,7

-6,0 -5,3-27,6 -5,0

1,6

Absolute Figures

2010

-3,6 -44,814,8 4,8

Market environment – Germany German construction market

E

Source: Federal Statistical Office, Statistical Office Bavaria


BAUER share Facts & Figures

F

Bauer family

48.19 %

Free float

51.81 %

Number of shares outstanding: 17,131,000

Listed on Frankfurt stock exchange,

Prime Standard since July 4, 2006

Shares issued 17,131,000

Issue price EUR 16.75

Listed in SDAX (MDAX from 22.09.2008 to 19.09.2010)

Earnings per share 2010

EUR 2.04 (2009 EUR 2.28)

Dividend payout 2010

EUR 0.60 per share (2009 EUR 0.60 per share)

Year high / Year low 2010

EUR 36.81 / EUR 27.38 (14.04.2010 / 01.07.2010)

YTD high / YTD low 2011

EUR 38.49 / EUR 16.04 (07.02.2011 / 01.11.2011)

Market capitalisation

around EUR 340 million

Shareholder structure

Share performance (2011 – YTD 2011)

SDAX

DAX

Trading volume

BAUER AG


BAUER share Dividend policy

F

2009

Dividend payment (in EUR per share)

2010 2008 2007 2006

0.30

0.00

0.60

0.90

1.20

0.50

1.00 1.00

0.60 0.60

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 past two 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.


G Key Figures Time Line Q3 2008 – Q3 2011

Total Group Revenues

(in EUR million)

BAUER Group 392,3 415,4 1.527,2 375,3 305,7 263,5 331,3 1.275,8 261,0 331,9 369,7 341,4 1.304,0 307,5 332,4 369,1

Construction 182,5 180,8 700,9 141,9 131,3 127,7 169,1 570,0 125,1 167,7 176,5 146,1 615,4 124,4 137,8 153,5

Equipment 203,8 210,6 780,1 220,5 154,7 106,4 126,9 608,5 113,2 138,8 160,3 169,4 581,7 159,8 162,9 164,4

Resources 34,3 47,9 135,1 33,9 40,5 50,8 49,1 174,3 35,6 41,7 47,3 53,1 177,7 39,1 56,4 67,2

Sales Revenues

(in EUR million)

BAUER Group 335,5 360,6 1.290,8 270,6 263,4 248,2 314,3 1.096,5 216,0 313,1 315,3 287,3 1.131,7 255,4 294,7 324,8

Construction 159,0 138,9 584,3 118,3 106,8 122,6 140,2 487,9 114,0 141,6 155,4 94,8 505,8 112,7 128,7 118,7

Equipment 150,9 186,4 601,2 126,1 117,5 84,2 128,7 456,5 69,9 132,2 118,9 148,3 469,3 108,1 114,6 138,9

Resources 25,6 35,2 105,1 26,2 38,9 41,5 45,4 152,0 32,0 39,3 41,0 44,1 156,4 34,4 51,4 67,1

EBIT

(in EUR million)

BAUER Group 45,0 59,1 167,5 23,3 21,6 15,1 24,4 84,4 5,6 21,6 28,6 32,6 88,4 6,7 21,6 23,2

Construction 16,5 17,0 46,3 5,2 7,7 7,6 5,2 25,7 2,9 6,7 12,9 6,3 28,8 -1,3 4,3 6,4

Equipment 28,5 38,7 118,3 20,3 12,8 5,6 12,6 51,3 2,6 13,7 11,6 20,4 48,3 9,2 14,0 11,6

Resources 1,8 2,8 4,0 -1,2 1,8 2,2 3,2 6,0 0,1 1,5 3,3 3,2 8,1 -0,6 3,4 5,4

EBIT margin

(in %)

BAUER Group 13,4% 16,4% 13,0% 8,6% 8,2% 6,1% 7,8% 7,7% 2,6% 6,9% 9,1% 11,3% 7,8% 2,6% 7,3% 7,1%

Construction 10,4% 12,2% 7,9% 4,4% 7,2% 6,2% 3,7% 5,3% 2,5% 4,7% 8,3% 6,6% 5,7% -1,2% 3,3% 5,4%

Equipment 18,9% 20,8% 19,7% 16,1% 10,9% 6,7% 9,8% 11,2% 3,7% 10,4% 9,8% 13,8% 10,3% 8,5% 12,2% 8,4%

Resources 7,0% 8,0% 3,8% n/a 4,6% 5,3% 7,0% 3,9% 0,3% 3,8% 8,0% 7,3% 5,2% -1,7% 6,6% 8,0%

Q3 11

Q3 11

Q3 11

Q3 112010

2010

2010

2010

Q2 11

Q2 11

Q2 10 Q3 10 Q4 10Q3 08 Q4 08 2008 Q1 09 Q2 09

Q3 09 Q4 09 2009 Q1 10

2009 Q1 10Q3 09 Q4 09

Q3 08 Q4 08 2008 Q1 09

Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09 Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10

Q3 08 Q4 08 2008 Q1 09 Q2 09 Q3 09

Q1 11

Q1 11

Q2 11

Q2 11

Q4 09 2009 Q1 10 Q2 10 Q3 10 Q4 10

Q1 11

Q1 11Q2 10 Q3 10 Q4 10Q2 09


Investor Relations

BAUER Aktiengesellschaft Tel.: +49 8252 97-1918

BAUER-Straße 1 Fax: +49 8252 97-2900

86529 Schrobenhausen

[email protected]

Germany www.bauer.de

BAUER Aktiengesellschaft

Financial calendar 2011

Publication Annual Report 2010 April 15, 2011

Annual Press Conference April 15, 2011

Analyst Conference April 15, 2011

Annual General Meeting June 30, 2011

Interim Report to March 31, 2011 May 13, 2011

Half-Year Interim Report to June 30, 2011 August 12, 2011

Interim Report to September 30, 2011 November 14, 2011

ISIN DE0005168108

Reuters B5AG.DE

Bloomberg B5A GR

Listing SDAX, CDAX, GEX,

Classic All Share

Prime All Share

DAXplus Family


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 un-

certainties, 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.

BAUER Aktiengesellschaft - BAUER Gruppe

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