Impn gb 14 konferenz e by Implenia AG

Financial Year 2014 Media and Analystsâ&#x20AC;&#x2122; Conference Zurich, 24 February 2015

A. Affentranger / B. Fellmann

Media and Analysts’ Conference Highlights 2014

Highlights 2014 Important steps were taken – back on track in CHF million

Key figures  Consolidated revenue  Operating income  Consolidated profit  Dividend per share (in CHF)

FY14 2,920 108.5 73.0 1.80

∆ PY -4.5% -6.2% -11.7% +12.5%

High order backlog maintains visibility

3,002

-5.9%

Sound net cash position

401.5

+8.2%

ROIC

48.3%

+230bps

One-Company-Model firmly established Acquisition of Bilfinger Construction sustainably strengthens the Group

Highlights 2014 Good result despite difficult start in CHF million

-137 (-4.5%)

Consolidated revenue

2,388

2010

2,523

2011

2,800

3,057

2013

76.9

2014

-9.6 (-11.7%)

Consolidated profit

52.5

2,920 77.7

2012

82.6

61.4

73.0

-7.1 (-6.1%)

Operating income

93.7

110.3

115.6

108.5

3.3%

3.7%

3.9%

3.8%

3.7%

2010

2011

2012

2013

2014

Occupational accidents1 154

159

148

-33 (-23.1%) 143 110

2.2%

2.4%

2.7%

2.5%

2010

2011

2012

2013

2014

Events per 1000 FTEs; all units in Switzerland

2010

2011

2012

2013

2014

ÂŠ Implenia | Media and Analystsâ&#x20AC;&#x2122; Conference | February 2015 | Page 4

Highlights 2014 Priorities set out Topics

Tangible successes Quality of order books Important new international orders Momentum in Modernisation and Development Strong regional business

Business

   

Future

 Internal cooperation significantly improved  Acquisition of Bilfinger Construction  Essential progress in Procurement

Processes

 Invested in “Operational Excellence”  Integrated processes / IMS 2.0  “Lean” / BIM  IT strengthened

People

Sustainability

 Implementation “Implenia Academy”  Winning the Future / Winning Performance  Training apprentices  Talents developed and recruited  Second sustainability report published  Sustainable products and services implemented  Significant decrease in number of occupational accidents © Implenia | Media and Analysts’ Conference | February 2015 | Page 5

Media and Analysts’ Conference Real estate and construction market

Real estate and construction market Implenia better diversified: customers and markets Revenue by customer segment Current

2015sqq

Revenue by markets Current Abroad 16%

Private 45%

Private ~37%

2015sqq

Abroad ~31%

Switzerland

84%

Public 55%

Public ~63%

Switzerland

~69%

ÂŠ Implenia | Media and Analystsâ&#x20AC;&#x2122; Conference | February 2015 | Page 7

Real estate and construction market Stable at a high level in EUR billion

Total construction spending Growth YoY Wachstum

55.0

2.8%

1.2%

0.8%

-0.7%

1.4%

1.5%

50.4

51.8

52.4

52.9

52.5

53.3

54.1

2011

2012

2013

2014

2015

2016

2017

54.0 53.0 52.0

51.0 50.0 49.0

48.0

Buildings – spending stable with a solid outlook 41.2

41.5

41.8

Civil engineering: spending recovery ahead

42.2

11.3

40.5 39.7

'11

'12

'13 Hochbau Buildings

'15 Veränderung Change

11. 2

10. 7

11. 5

11. 4 1%

11. 1

-1%

'14

11. 8

-3% '16

'17

'11

'12

'13

'14

Infrastrukturinvestitionen Civil Engineering

'15

'16

'17

Veränderung Change

Source: Euroconstruct/KOF Dec 14 © Implenia | Media and Analysts’ Conference | February 2015 | Page 8

Real estate and construction market Discontinuation of the Euro minimum exchange rate Fundamentals intact but more challenging GDP forecast: large correction and higher variance 2.5%

** change due to discontinuation of the Euro minimum exchange rate

2.0% 1.5% 1.0%

1.7%

1.8% 0.9%

0.5%

0.2%

0.0% -0.5% 2014

2015

Mittelwert Average

2015**

2016**

** change due to discontinuation of the Euro minimum exchange rate

2.1%

3.0

2.0

1.0

0.0

-1.0 '00 '03 '06 '09 '12 ‘15 Unemployement (%)

0.25

-0.67 '08 '09 '10 '11 '12 '13 '14 ‘15

3-Month Rate (%)

10-Year Note (%)

Approved building construction volume 25000

in CHF bn (9 months)

20000

2.0%

15000

0.6%

1.0%

Source: Bloomberg 29.01.2015

Growth in construction spending: relatively stable 3.0%

3.0

4.0

STABW (+/-) STD (+/-)

4.0%

Interest rates

Unemployment rate

0.0%

0.1%

10000 5000

-1.0%

-2.0% 2014 Mittelwert Average

2015

2015**

2016**

STD (+/-) STABW (+/-) Source: Seco, Crea, KOF, Crea, UBS, CS, ZKB

'00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 Renovation New builds - outside second home municipalities New builds - second home municipalities Source: Credit Suisse © Implenia | Media and Analysts’ Conference | February 2015 | Page 9

Real estate and construction market Ongoing low vacancy rate Vacancy rate (Vacant apartments in % of estimated total housing stock) 2.0% 1.5% 1.0% 0.5% 0.0%

1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 Source: Swiss Federal Statistical Office

Current influencing factors Delayed absorption  Increasing number of rental properties (investment opportunities) in relation to condominium building leads to a temporarily higher rate  Investors weight vacancy rate less due to the long investment horizon  Foreign investors prefer safety over short term yield

Demand effects  Surplus production in areas with poor demand (rural areas)  Secondary home initiative (tourism cantons)  Declining migration  Increasing number of households (single family households) © Implenia | Media and Analysts’ Conference | February 2015 | Page 10

Real estate and construction market Increasing spending in infrastructure in our foreign core markets in EUR Billion Energy and transportation as catalysts

Two decades of growth – only mid-way reached

Spending in civil engineering

51.2 51.0

50.5

Change (in %) 3.2% 2.4%

50.8

50.0 48.7

-0.3% -0.5%

48.5

10.0 10.5

11.0

11.8

Change (in %)

7.1%

13.6 12.7 13.1 5.1%

4.8%

7.2%

3.7% 3.3%

-0.5%

-3.7% '11 '12 '13 '14 '15 '16 '17

'11 '12 '13 '14 '15 '16 '17

Tunnel projects account for a large part of spending

Transportation – important investments planned

Spending in civil engineering

Change (in %) 6.9

6.8

11.2 11.2

1.2% 1.0%

1.0%

1.1%

11.0

0.8%

6.7

Change (in %)

6.6 6.6

10.6 10.4

6.6

1.9%

2.5%

2.7% 2.1%

10.7 10.5 0.0%

0.0% '11 '12 '13 '14 '15 '16 '17

'11 '12 '13 '14 '15 '16 '17

-1.4% '11 '12 '13 '14 '15 '16 '17

Source: Euroconstruct Dec 14 © Implenia | Media and Analysts’ Conference | February 2015 | Page 11

Real estate and construction market Successfully positioned in Europe's most attractive markets GDP growth, infrastructure market growth and market size (CAGR 2014-17; in EUR bn) 4.5% AAA AA A BBB BB B

4.0% 3.5% 3.0%

Belgium Finland

1.5%

Austria

Netherlands

GDP CAGR 2014-17

0.0% -3.0%

Norway

Portugal

Denmark

Italy

Germany

France

Spain

UK Switzerland

2.0%

0.5%

Sweden

Credit Rating Standard&Poor‘s

2.5%

1.0%

Ireland

Infrastructure volumes CAGR 2014-17 -2.0%

-1.0%

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

Source: www.standardandpoors.com, Euroconstruct December 2014 © Implenia | Media and Analysts’ Conference | February 2015 | Page 12

Real estate and construction market Conclusion: markets are intact Switzerland

Public sector   

Stable market as infrastructure projects have a long-term focus Positive impact from FABI (long-distance expansion of rail infrastructure) from 2016 onwards Pent-up demand in refurbishment

Private sector   

Consolidation at a high level expected Ongoing solid fundamentals Political environment poses higher uncertainty

Norway 

National Transport Plan 2014-23 (NOK 508 bn) secures investments

Germany 

Stable development in the largest European market on a clearly higher level

Austria 

“Zielnetz 2025+” rail project and Brenner base tunnel require major investments

Sweden 

National Transport Plan 2014-25 (SEK 522 bn) – growth in railway / road construction © Implenia | Media and Analysts’ Conference | February 2015 | Page 13

Media and Analysts’ Conference Our segments

Our segments Segments – the acquisition of Bilfinger Construction strengthens Implenia’s position

Modernisation Consulting TC / GC Execution Wooden construction

Development Real estate project development

Buildings TC / GC Complex building construction

Tunnelling & CE Underground construction

Construction Switzerland Civil works Roads

Civil engineering Foundation engineering

Regional building construction

Refurbishment

Plants

Norge Underground construction Infrastructure Niches

Engineering

“One company, one goal, one spirit”

Our segments Modernisation – on track, successfully positioned in CHF million

Revenue

EBIT

EBIT / EBIT margin 6

220

5.2

5.2 4

114

3.7

133

3.7

3.1

2.7%

2.4%

0.1

0.1%

106

1.5 0.6

2013

2014

2013

-2

-2.5

2014

2nd half-year

1st half-year

Restated due to segment adjustments

-3.7%

-3.4

-4

2010 2nd half-year

-3%

-2.8%

2011

Margin (in %)

2012

-6%

2013

2014

EBIT

Our segments Modernisation – rollout to new regions Development of order book

in CHF million

200

190

173 108

"Bleicherweg" Zurich

Highlights 30.06.13

31.12.13

30.06.14

31.12.14

Secured revenue

Current year

  

High and profitable growth Wooden Construction at full capacity and with strong unique selling proposition Engineering – untapped potential

Prior year

Focus  56.5%

66.1%

 4.1%

2015 Restated due to segment adjustments

9.8%



Expansion from ZH/AG/BL throughout Germanspeaking Switzerland Wooden Construction invests in new production facility Engineering – focus on “One Company” projects

2016 © Implenia | Media and Analysts’ Conference | February 2015 | Page 17

Our segments Development – good portfolio in CHF million

Invested Capital

EBIT

EBIT / ROIC 40

154

171

36.5

35.0

40% 35.0

31.6 30

22.2 217

25.3

20.7

230

30%

20.9 23.8%

14.7%

-63

-59

2013

2014

14.3

2013

2014

2nd half-year

Real estate transactions

1st half-year

20%

16.4%

10%

11.5%

2010 Other balance sheet positions

20.5%

2011

ROIC (in %)

2012

2013

2014

EBIT

Our segments Development – real estate remains an attractive investment class Real estate portfolio in CHF million

218

247

252

217

230

"Portalyssa" Lyss

Highlights 31.12.10

31.12.11

Focused land-bank

31.12.12

31.12.13

31.12.14

   

Solid performance confirmed High momentum in Greater Zurich Area Investments in the land-bank (especially in Western Switzerland) ensure future development Ongoing high demand in investment properties

Focus   

Quality of project pipeline looks promising Focus increasingly on vertical markets (“health” and “senior housing”) Investment opportunities remain scarce for institutional investors due to low interest rates

Our segments Buildings – back on track in CHF million

Revenue

EBIT

EBIT / EBIT margin 19.7

1,655

17.9

18.3 1,529

843

769

11.3

10.4

2.0%

10.7

11.6 760

7.0

-7,4

2014

2013

1.4%

1.0%

1.1%

0.8%

0.7%

0.5%

2014

0.0%

-4

-0.5%

2010 2nd half-year

2nd half-year

1st half-year

Restated due to segment adjustments

1.5%

-6,7 -1.2

2013

10.4 1.3%

812

2.5%

18.3

2011

Margin (in %)

2012

2013

2014

EBIT

Our segments Buildings – process optimisations are taking effect Development of order book 1,985

1,816

in CHF million

1,585

1,441

"Jakobshornbahn" Davos

Highlights  30.06.13

31.12.13

30.06.14

31.12.14

 Secured revenue

Current year Prior year

 

Challenging year following the earnings correction in the first half-year Invested heavily in processes and management adjustments Solid performance in the second half-year Order book: quality before quantity

Focus 

85.3% 62.2% 22.9% 2015 Restated due to segment adjustments

32.5%

2016

Increasing market uncertainty requires consolidation in 2015 Customers: qualitative acquisitions Personnel: correct application of processes Projects: solid execution © Implenia | Media and Analysts’ Conference | February 2015 | Page 21

Our segments Buildings – processes optimised and implemented 2014

2015…

Customers

 Quality and development of good customer relationships as first priority  Ongoing analysis of customer orientation

Processes

    

Employees

Projects

New process landscape created and introduced (incl. SAP) Integrated process (incl. group functions) Rigorous application Comprehensive communication of new processes “IMS 2.0”: conceptual framework for process application, pilot programme started

 New training modules developed and introduced  Close involvement of regional management (& organisation)  Executive Board Buildings is closely involved in the implementation of the defined measures    

Customers

Projects

Operational Excellence

Processes

Employees

“Lean”: operating model elaborated, pilot program started Multidisciplinary teams for project optimisation Deviation of project margins are reviewed regularly Debriefings for all lost bids introduced

Our segments Buildings – processes are crucial for success Committed – processes signed by each Executive Board Member “We are convinced that the consequent application of our processes and their continuous improvement will create a competitive advantage and lead to financial success.” Executive Board Implenia Buildings

Implementation – process trainings across all regions completed

Our segments Tunnelling & Civil Engineering – very good performance Tunnel Switzerland in CHF million Revenue

EBIT / EBIT margin

EBIT

292

25% 34.6

20.4

35.7

266 15.7 163

138

20%

15%

21.6

15.5

10.7

20.4

15.7 11.3%

129

2013

128

2014

-7,4 4.9

-6,7 5.0

2013

2014

7.1%

2nd half-year

1st half-year

7.0% 5.9%

2010 2nd half-year

10%

10.7%

2011

Margin (in %)

2012

2013

2014

EBIT

Our segments Tunnelling & Civil Engineering – order backlog increased significantly Development of order book

in CHF million

791 492

700

415

Highlights 30.06.13

31.12.13

30.06.14

Secured revenue

31.12.14

   

Current year Prior year

"Mositunnel" Brunnen

Seamless change in management Good tunnel performance in Switzerland Capacity issues in foundation engineering Very promising start in Austria (successful acquisitions, project start Semmering, customer relationships)

Focus 51.3%

62.0% 18.5%

2015

30.3%

2016

  



New orders expected in Switzerland Promising order book in Austria Acquisition of Bilfinger Construction will improve our market position and push our internationalisation Reaching its lowest point in 2015 © Implenia | Media and Analysts’ Conference | February 2015 | Page 25

Our segments Construction Switzerland – reliable backbone in CHF million

Revenue

EBIT / EBIT margin

EBIT

872

846

24.8

10%

28.5 30

544

28.5 24.8

23.7

478 29.6

31.9

22.3 19.0

328

368

-7,4

-6,7

2013

-4.8

2013

2.5%

-3.4

2nd half-year

1st half-year

Restated due to segment adjustments

2.6%

2.8%

2010 2nd half-year

3.4%

3.0%

2011

Margin (in %)

2012

2013

2014

EBIT

Our segments Construction Switzerland – focus on strengthening structures Development of order book

in CHF million

550 456

410 331 ”Rain water drain" Geneva

Highlights  30.06.13

31.12.13

30.06.14

Secured revenue

31.12.14

 

Current year

Success driven by Western Switzerland and Greater Zurich Area Material contributions from plants (aggregates) Rest of German-speaking Switzerland offers potential

Prior year

Focus 44.4% 32.0% 11.8% 2015 Restated due to segment adjustments

8.2%

  

Order book reflects healthy markets Strengthen position as Implenia’s backbone Bring weaker regions back to the targeted path

2016 © Implenia | Media and Analysts’ Conference | February 2015 | Page 27

Our segments Norge – focused on consolidation in CHF million

EBIT / EBIT margin

EBIT

Revenue

321

317

12% 10.3

10.3

8.6

8.6 161

165

5.6

3.9 3.0

160

2013

152

2014

4.7

-7,4

-6,7

2013

2014

2nd half-year

1st half-year

2.7%

1.4%

3% 0%

-1.0%

-0.8

-3

-3%

-6

-6%

2010 2nd half-year

3.2%

2011

Margin (in %)

2012

2013

2014

EBIT

Our segments Norge – well positioned for future success Development of order book

in CHF million

456 349 261 200 "Pedestrian and bicycle bridge" Trondheim

Highlights 30.06.13

31.12.13

30.06.14

Secured revenue

31.12.14

Current year Prior year

   

Deliberate decision to consolidate Investments in structures, processes as well as execution quality Currency devaluation impacted results (CTA) EBIT – reflecting the consolidation phase

Focus 56.0%

71.3%

66.8%

  

17.3% 2015

2016



Market remains promising Investments will pay off Back on growth track within the next 12 to 24 months Synergies given thanks to the acquisition of Bilfinger Construction © Implenia | Media and Analysts’ Conference | February 2015 | Page 29

Our segments EBIT Business Units – impressive result despite a difficult start in CHF million

2014

2013

+/- in %

Modernisation & Development

40.2

-0.1%

Buildings

10.4

18.3

-43.2%

Tunnelling & Civil Engineering

15.7

20.4

-23.0%

Construction Switzerland

28.5

24.8

15.2%

8.6

10.3

-16.4%

103.4

114.0

-9.3%

Norge EBIT Business Units

Media and Analysts’ Conference IFRS Reporting

IFRS Reporting Solid result despite one-offs in CHF million

2014

2013

+/- in %

EBIT Business Units

103.4

114.0

Miscellaneous/Holding

5.1

1.7

108.5

115.6

3.7%

3.8%

-8.2

-7.8

-5.2%

Tax

-27.3

-25.1

-8.4%

Consolidated profit

73.0

82.6

-11.7%

2.5%

2.7%

151.3

158.4

Operating income Financial result

EBITDA

-9.3% 204.1% -6.2%

-4.5%

ÂŠ Implenia | Media and Analystsâ&#x20AC;&#x2122; Conference | February 2015 | Page 32

IFRS Reporting Miscellaneous/Holding – costs under control in 1,000 CHF

2013

2014 -93 -2,780

5,057 -89

-2,089

1,663

13,191 10,298

-5,261 -6,457 Holding overhead / misc. costs

IAS 19

Depreciation Amortisation Operating Investment income Property

Holding overhead / misc. costs

IAS 19

Depreciation Amortisation Operating Investment income Property

IFRS Reporting Tax expense – impacted by one-off effect in %

2014 27.2%

0.4%

3.6% 23.3%

Expected tax rate

2013

21.8%

-0.6%

0.5%

Impact participation deduction

Non-capitalised tax loss carryforwards (net)

Prior years’ taxes

Other effects

Effective tax rate

-0.6%

-0.1%

0.3%

1.9%

23.3%

IFRS Reporting Assets – increase in cash 31.12.2014

31.12.2013

Cash and cash equivalents, securities

731.6

582.7

Trade receivables

542.0

513.5

Work in progress / joint ventures (equity method)

342.0

367.3

Real estate transactions

229.8

217.5

98.6

101.4

1,944.0

1,782.4

9.1%

413.7

414.0

-0.1%

2,357.7

2,196.4

7.3%

in CHF million

Other current assets Total current assets Total non-current assets Total ASSETS

+/- in %

IFRS Reporting Liabilities – increase due to new bond of CHF 125 million 31.12.2014

31.12.2013

3.3

3.5

Trade payables

368.7

362.7

Work in progress / joint ventures (equity method)

719.9

678.0

Other non-current liabilities

229.2

232.2

1,321.1

1,276.4

326.8

208.0

1.9

2.2

78.1

81.1

Total non-current liabilities

406.8

291.3

39.7%

Equity and non-controlling interests

629.8

628.7

0.2%

2,357.7

2,196.4

7.3%

in CHF million

Current financial liabilities

Total current liabilities Non-current financial liabilities Other non-current liabilities Deferred taxes, provisions, pension assets

Total LIABILITIES

+/- in %

3.5%

IFRS Reporting Equity unchanged – impacted by pension funds and FX effects in CHF million

Equity ratio 2013 28.6% ∆ Bond -1.5% ∆ Other balance sheet changes -0.4% ∆ Consolidated profit 3.1% ∆ Other comprehensive income -1.0% ∆ Other changes in equity -2.1% 2014 26.7%

73.0 -16.9 -5.5

50.6 -29.4 -5.7 -14.4

Consolidated profit

Postemploment benefits, after taxes

Foreign exchange differences

Comprehensive income

Dividends and par value repayment

Change in treasury shares

Other effects

1.1 Changes in equity

IFRS Reporting Cash flow statement – sound free cash flow in CHF million

2014

-12.4

129.0

-33.0

64.3 -34.5

3.5

-49.7

67.2

2013

Profit before changes in NWC

Receivables

Liabilities

Work in progress / joint ventures

Real estate transactions

Interest and taxes

Investments and M&A

Free cash flow

142.8

-28.0

134.5

-129.2

33.3

-30.1

-44.4

78.9

IFRS Reporting Return on invested capital markedly above WACC in %

ROIC before tax 350

346.0

ROIC after tax

343.3

300

90%

266.9

250

75% 251.4 224.5

200

46.0%

60%

48.3%

41.3%

30% 15%

50 9.5%

9.5%

2011

266.9 250

2012

2013

100

2014

75% 251.4 224.5

33.1%

36.0%

36.2%

60%

45% 30%

21.4%

17.9%

15%

9.5%

2010

90%

300

150

22.4%

9.5%

343.3

45%

27.3%

9.3%

346.0

200

150 100

350

7.6%

7.3%

2010

2011

2012

2013

2014

Invested capital

ROIC (operating income / invested capital)

ROIC (NOPAT / invested capital)

WACC before tax

WACC after tax

IFRS Reporting Dividend – considerable hike Dividend policy Dividend in CHF per share

1.40

Again higher dividend

0.90

2010

1.60

1.80

1.10

2011

2012

2013

2014

47.6% 31.9%

33.4%

2010

2011

36,6%

39.1%

New target value: midterm 50%

2012

2013

2014

Media and Analysts’ Conference Outlook

Outlook Geographical expansion into attractive markets Implenia Tunnelling & Civil Engineering, Implenia Norge

Core markets

Implenia “new" +

Expansion market

Bilfinger Construction

Core markets

Top customers

Core markets

Outlook Expansion and diversification of our international business Breakdown of Group production output 2014 (pro forma) International 16%

ex-ante

Breakdown of production output Tunnelling & Civil Engineering and Norge 2014 (pro forma) 1% 1%

100% 90% 80%

9% 4%

41%

28%

70% 60%

50% 40% 30%

Switzerland Schweiz 84% 84%

22%

57%

International 31%

Austria Germany Sweden Norway

20%

28%

10%

ex-post

Others

Switzerland

0% T&CE, Norge (ex ante)

T&CE, Norge (ex post)

Wide regional diversification Switzerland 69%



Perfect geographical fit



Better portfolio risk diversification



Outlook Significant strengthening of technical expertise Technical platform – USP

Experience

Project engineering  Comprehensive realisation from planning to execution  Special technical solutions  Choice of different in-house contractual models

(e.g. EPC: Engineering-Procurement-Construction)

Logistics platform  Inventory management / workshops  Strong technical machinery department

Pioneer in foundation engineering and complex civil engineering  New leading provider in Germany and Switzerland  Strong reference portfolio

Technical specialities    

Materials lab Formworks Posttensioning Infrastructure refurbishment

Outlook 2015, the year of integration

“Closing” (March 2)

Pre Closing 01/15

02/15

“Operating Model” (May/June)

100 days 03/15

04/15

05/15

Integration 06/15

07/15

Today (February 24)

Year of integration  



Consolidation with “Closing” on March 2, 2015 “100 days” – Q2 integration plan  Vision and strategy  New organisation  Business plan Expecting a break-even result

08/15

09/15

10/15

11/15

12/15

1H15 (August 20)

Focus – the machine works    

Ensure the access to the markets and customers Guarantee current projects Benefit from the technical platform Exploit synergies  Procurement  Logistic, machinery  Corporate Center

Outlook “One company projects” = closer to customers, projects and employees From 2015 onwards

“One Company projects” until now…

One Company

Business Unit 1

     

Business Unit 2

Business Business Unit 3 Unit 4

Corporate Center

Business unit specific invoicing Many interfaces and high transactions costs Complex project organisations Conflicts of interests Difficult customer and service orientation Inefficient calculation

Steering Committee

    

Focus on project success and customer satisfaction Independent project control Optimized “pricing” Project aligned incentive structure Efficient resource allocation © Implenia | Media and Analysts’ Conference | February 2015 | Page 46

Outlook High order backlog secures visibility High order book

Secured revenue

3,500

Current year

in CHF million

4,000

Prior year

3,445 3,070

3,154

3,101

3,190

3,000

Actual 3,040

67.6%

55.9%

3,002

28.6%

17.6%

2,500 2009

2010

2011

2012

2013

2014

Order book in CHF million

2015

2016

Order intake 31.12.14

Modernisation & Development

31.12.13

+/- in %

190

173

10.4%

1,441

1,816

-20.7%

Tunnelling & Civil Engineering

700

415

68.7%

Construction Switzerland

410

331

24.1%

Norge

261

456

-42.9%

3,002

3,190

-5.9%

Buildings

Total order book

Restated due to segment adjustments

in CHF million

1,890 -3,347 3,190

1,269 41 Projects > 10 Mio.

31.12.13

3,002 3’241 Projects Processed < 10 Mio. projects 31.12.14

Outlook Implenia is looking ahead with confidence 2015

Focus 1:  Closer to customers, projects and employees Focus 2:  Implementation of optimised processes  Reinforced cooperation Focus 3:  Integration of Bilfinger Construction

Medium term target



The Group is sticking to the medium-term EBIT target of CHF 140-150 million



With the acquisition of Bilfinger Construction the medium target is even more within reach

Growth

+ CHF 200 mn in Modernisation + CHF 300 mn abroad (excl. acquisition Bilfinger Construction)

Profitability

Agenda & contacts Keep in touch 2015 Annual General Meeting of Shareholders 24th March 2015 Publication of the half-year results for 2015 20th August 2015 Publication of the annual results for 2015 23rd February 2016

Contact for investors Serge Rotzer, Head of Investor Relations Phone +41 58 474 07 34 Email serge.rotzer@implenia.com Contact for media Philipp Bircher, Head of Communications Group Phone +41 58 474 74 77 Email philipp.bircher@implenia.com

2016 Annual General Meeting of Shareholders 22nd March 2016

ÂŠ Implenia | Media and Analystsâ&#x20AC;&#x2122; Conference | February 2015 | Page 49

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