Rosenbauer International AG

Annual Report • Apr 8, 2022

1

WE TAKE ON NEW CHALLENGES

Annual Financial Report 2021

DISCOVER OUR EXPEDITION INTO A RESPONSIBLE DECADE

02 GROUP MANAGEMENT REPORT

• 3 General Information
• 9 Economic report
• 20 Other legal information
• 23 Risks and opportunities
• 28 Forecast report

32 CONSOLIDATED FINANCIAL STATEMENTS

• 123 Auditor's report
• 129 Statement of all legal representatives

130 ROSENBAUER INTERNATIONAL AG

• 131 Management Report
• 158 Financial Statements
• 184 Auditor's report
• 189 Statement of all legal representatives

GROUP MANAGEMENT REPORT

220 PATENTS HELD

24.3 FOR R&D (IN € MILLION)

• 3 General information
• 4 Economic report
• 10 Other legal information
• 23 Risks and opportunities
• 28 Forecast report

General information

CORPORATE STRUCTURE

GROUP

REPORT

MANAGEMENT

The world's leading system provider for fire protection

Rosenbauer is the world's leading system provider for preventive firefighting and disaster protection technology. The international group of companies develops and produces vehicles, fire extinguishing systems, fire and safety equipment and digital solutions for professional, industrial, plant and volunteer fire services and systems for preventive fire protection.

The listed company Rosenbauer International AG based in Leonding, Austria, functions as the parent company of the Rosenbauer Group. It is also the largest production company, the research and development center and is responsible for the management of the Group.

In 2021, the Rosenbauer Group generated revenues of € 975.1 million. The individual product groups contributed to this as follows: Vehicles 76%, Fire & Safety Equipment 9%, Preventive Fire Protection 3%, Customer Service 8% and Other Revenues 4%. With a global market share of 14.8%1 of late, Rosenbauer is the leading manufacturer of firefighting vehicles. Latest available market data from 2020.

Unique, global network

The Rosenbauer Group operates 15 production locations in nine countries on three continents and meets all major world standards with products manufactured in Europe, the US and Asia. It also has its own sales and service companies in 14

1 Own calculation based on figures from the World Bank and the UN as well as annual reports and expert estimates.

Revenues by product segment 2021

countries as well as approximately 240 independent trading partners around the world.

The sales organization is divided into five sales regions: CEEU (Central and Eastern Europe), NISA (Northern Europe, Iberia, South America and Africa), MENA (Middle East and North Africa), APAC (Asia-Pacific) and NOMA (North and Middle America). The areas are responsible for all business in their regions. They analyze market requirements, initiate product developments, are in charge of sales and service and run their production plants. The area organization is intended to strengthen established markets and to focus on cultivating those with lower penetration to date. Preventive Fire Protection activities are presented in a separate segment.

Overall, Rosenbauer is represented in around 120 countries and therefore has an international network that is unique in the firefighting industry.

Number one for innovations

With its innovative products, Rosenbauer wants to define state-of-the-art technology and actively develop customer demand. Accordingly, research and development are of central importance to the Group. The Rosenbauer innovation process systematically integrates industry-relevant megatrends, findings from market observation, customers' requirements and employees' suggestions. The Rosenbauer Group holds around 220 patents in the various segments.

The Group invested € 24.3 million in research and development in 2021 (2020: € 19.9 million). This represents 3.8% (2020: 2.6%) of the relevant net proceeds of in-house production. The capitaliza-

Research and development/R&D ratio

tion rate was 36.7% (2020: 32.9%) and related to developments in Austria and Germany. 50% (2020: 52%) of development costs in the amount of € 12.2 million (2020: € 10.3 million) were incurred by Rosenbauer International AG, the Group-wide center of expertise for municipal and specialty vehicles, firefighting systems and safety equipment.

PRODUCTS AND SERVICES

Vehicles

Firefighting vehicles can be broken down into the groups of municipal, ARFF and industrial vehicles, and by primary function. Rosenbauer has full series ranges in every category. The portfolio comprises firefighting trucks, rescue and logistics vehicles, specialty vehicles and aerial ladders as well as hydraulic firefighting and rescue platforms. Production takes place in Austria, Germany, Slovenia, Italy, Spain, Russia, Saudi Arabia, Singapore and the USA, while final assembly is carried out in Switzerland, the UK and South Africa.

Rosenbauer is the only international firefighting technology provider to produce all types of firefighting vehicle to both European (EN 1846) and US standards (NFPA 1901). As a result, large parts of the firefighting world are covered (Europe, North and South America, Africa, West Asia). Vehicles for China (China Compulsory Certification), Japan (TRIAS), Australia (Australian Design Rules) and Russia (GOST) are built in accordance with country-specific standards and must be certified separately.

As a rule, firefighting vehicles are built on series production truck chassis. As these account for approximately 30% of the manufacturing costs, value added can be increased with chassis produced in-house. In particular, Rosenbauer builds vehicles for the US market on its own chassis, including the entire PANTHER series and the new RT.

The fire extinguishing systems installed in the vehicles are also predominantly produced by Rosenbauer. This makes Rosenbauer a full-service provider and gives it a competitive edge over pure superstructure manufacturers who do not have any chassis of their own and/or need to buy the "centerpieces" of their vehicles. The firefighting systems (truck-mounted pumps, foam proportioning systems, turrets, portable fire pumps) are produced for the entire Group at the Leonding location.

Around the world, firefighting technology and firefighting vehicles in particular are predominantly procured via public tenders. At the same time, a trend towards purchasing associations and collective tenders has been noticeable for years, leading to intensified price competition in many countries.

Fire & Safety Equipment

Rosenbauer is also a full-service provider for firefighting equipment. Key strategic products are developed within the company, manufactured in-house or at contractual partners and sold as Rosenbauer-brand items. These include nozzles, submersible pumps, high-performance ventilators and generators as well as fire service helmets and protective suits, boots and gloves. These are all positioned in the very top-quality segment and are distinguished by their outstanding functionality, safety and reliability as well as attractive value for money.

Equipment specialists who focus on the sale of Rosenbauer products are active in all areas. Rosenbauer is in continuous contact with its customers when it comes to the use of equipment products.

Preventive Fire Protection

In Preventive Fire Protection, Rosenbauer handles the planning, installation and servicing of stationary firefighting systems. In Austria, the recycling industry is one of the most important customers for fire protection systems. The spectrum of offerings comprises both water- and foam-based firefighting systems and ranges from sprinkler and spray systems, gas and kitchen extinguishing systems to turret extinguishing systems including fire alarm and early detection systems. Significant parts of the equipment such as the ready-to-install sprinkler pipe systems, turrets and compressed air foam systems (CAFS) are produced by Rosenbauer.

In addition, Rosenbauer's portfolio includes semi-stationary solutions such as the RPE Twin Agent CAFS/dry powder unit as well as mobile solutions such as the portable/wheeled RFC POLY extinguishing systems.

The operational safety of the systems is guaranteed by a comprehensive maintenance and service offering. This includes the preparation of system-specific maintenance concepts and their implementation by specially trained service personnel.

Customer Service

Customer service is a strategically important pillar of the firefighting business. It carries out the initial product training with customers and usually remains at their side across the entire product life cycle. In addition to a finely coordinated maintenance and service catalog, the customer service offer includes a broad range of operator and user training as well as training in driving technology and deployment tactics on state-of-the-art simulators. Experienced trainers design the courses in a practical and methodical way, either on-site at the customer's premises, in a Rosenbauer training center, or online via web meetings. On request, Rosenbauer functions as a full-service provider and takes charge of complete fleet management. With around 25 of

its own service locations in all areas and around 500 service staff, Rosenbauer is always near to its customers. In addition to this, there are approximately 150 service partners, mostly with their own workshop infrastructure. It thus offers by far the best and largest service network in the industry worldwide.

RESEARCH AND DEVELOPMENT

In 2021, research and development activities were focused on the further development of the existing product range and the expansion of the electric vehicle fleet. Due to the pandemic, new products were presented at an international virtual trade show in March 2021. This format offers the advantage of informing customers across all time zones about the new products and exchanging information with them via live chat.

The most important innovations in the reporting year include, the RFC Battery Extinguishing System, an innovative extinguishing system for electric vehicles, the BOROS fire service boots, the HEROS H30 fire service helmet, and the new RTE AX B16 ventilation system. In addition, Rosenbauer began the implementation of the first electric aerial ladder based on the L32A-XS.

Firefighting vehicle with an electric drive

With the Revolutionary Technology (RT), Rosenbauer ushered in a new era of firefighting vehicles. Since the beginning of 2021, the fire services from Amsterdam, Berlin, and Dubai have been testing the RT as innovation partners and making the knowledge gained available for series development and production. The first fleet order for four RTs was placed by the Basel-Stadt canton's professional fire department in the reporting year. In March 2022, the first RTX was delivered to the Los Angeles Fire Department, California.

As a completely new development, the RT embodies the next generation in firefighting vehicles. It is not only the drive technology that is revolutionary, but also the vehicle architecture and therefore the complete design philosophy as well as the universally intuitive operation. All functions of the RT, from lighting to the fire extinguishing systems, can be controlled digitally. All the strands of a deployment are thus brought together in the RT as an information and command center. It establishes its own, secure WLAN for this purpose, functions as a wireless control station for robots, drones and sensor systems and provides a connection to the command post, the data center of the Rosenbauer information management system, the World Wide Web and, in future, the Internet of Things (IoT).

In the 132-kWh variant, the RT's high-voltage battery storage devices provide sufficient energy not only to feed to the drive system, but also to be able to handle an entire deployment using only electric power. This applies to both technical and shorter firefighting operations because the pump is electrically operated, too. For longer firefighting operations, a range extender is installed in the vehicle, which consists of an advanced six-cylinder diesel engine and a power generator. With this combination, the RT becomes a mobile power station that not only automatically recharges its batteries when more energy is consumed than is stored in them, but also ensures there is an emergency power supply at the scene of deployment as well.

Awards for Revolutionary Technology

Rosenbauer is one of the pioneers in product development and is the world market leader in the firefighting field. This is also confirmed by the awards it has received, such as the Austrian State Prize for Innovation.

The State Prize for Innovation is awarded annually in recognition of outstanding achievements by domestic companies. It is organized by Austria Wirtschaftsservice GmbH on behalf of the Austrian Federal Ministry for Digital and Economic Affairs. Participants come from all Austrian provinces, which determine them within the framework of their own regional innovation awards. The innovations submitted should be ready for the market and initial experience of their impact should already be available. In the case of Rosenbauer Revolutionary Technology, both were the case.

The RT combines design, user-friendliness, sustainability, and forward-looking technologies that pave the way for fire departments into a sustainable and digital future. This also convinced the Red Dot jury, which presented the RT with the Red Dot Design Award 2021 in the Product Design category.

Rosenbauer estimates the global market for the RT at more than 3,200 vehicles by 2030, with demand coming not only from municipal fire services but also from airport operators and industrial concerns. In Europe, 700 to 800 such firefighting vehicles could already be in active service by 2025.

Expansion of the electric vehicle fleet

In the reporting year, the electrification of the first L32A-XS aerial ladder on a Volvo FE Electric chassis also marked the start of the expansion of the electric vehicle fleet. The expertise in the field of high-voltage technology acquired over the past few years is being used to a large extent in this development. Functionality and utility have top priority. An electric aerial ladder must be just as functional, powerful and reliable as the tried-and-tested standard aerial ladder. The prototype based on DIN EN 14043:2014 and EN 1846 is to be presented in summer 2022. Schutz & Rettung Zürich, the largest civil rescue organization in Switzerland, is already the first lead customer for the test operation. With the L32A-XS electric aerial ladder, Rosenbauer is underscoring its leading role as a trendsetter in the firefighting industry.

Rosenbauer already offers its customers the choice of having the desired electric municipal vehicle manufactured either on a chassis developed by Rosenbauer, as in the case of the RT, or on a series chassis, as in the case of the electric aerial ladder or the logistics vehicle.

The plan is to gradually expand the range of electric vehicles, with the aim of being able to offer a model with an alternative drive in every vehicle category by 2023. The next model will be presented to the public in June at Interschutz 2022.

Digital products and services

Rosenbauer Digital Solutions has worked intensively on the further development of its products to improve the digital customer experience. For example, a new dashboard has been developed for RDS Connected Fleet, which allows vehicle and fleet data to be accessed and analyzed in real time. With Connected Command, RDS offers a 360-degree view of all relevant information about the site in real time. All data runs through the secure European RDS cloud.

2022 will see the development of an RDS Connected Command mobile app and investments in increasing the integration of other Rosenbauer and partner products. User growth and increasing customer satisfaction are the key objectives for digital products in positioning Rosenbauer as a technology and innovation leader.

Innovative battery-fire extinguishing system for electric vehicles

According to the European Automobile Manufacturers Association (ACEA), the number of new registrations of fully electric vehicles in the EU in 2021 increased by 63% compared to the previous year. This equates to approximately 880,000 new vehicles now on Europe's roads. The ever-increasing number of electric vehicles also presents fire departments with new challenges in firefighting.

Rosenbauer has launched the RFC Battery Extinguishing System, an extinguishing system for fast and safe extinguishing of lithium-ion technology batteries. The extinguishing system brings the extinguishing water exactly where it is needed to cool the cells and modules – directly into the battery housing. For this purpose, the extinguishing mandrel is driven into the battery with a force of several tons and the extinguishing water is discharged directly inside the battery through the perforated extinguishing lance. The water fills the battery housing completely and thus leads to efficient cooling. The water quantity of a normal TLF/HLF is sufficient to ensure that the extinguishing is successful, and a normal pressure pump is enough for the supply of extinguishing water. This ensures very resource-saving extinguishing and reduces the spread of fumes to a minimum.

The emergency services only need to be in the vicinity of the burning vehicle for a short time, as the system can be activated remotely via the control unit. The system thus combines safety for the emergency services and efficiency in firefighting.

OBJECTIVES, STRATEGY AND CONTROLLING

As an industry trendsetter, Rosenbauer helps shape fire and disaster prevention with pioneering innovations and outstanding products. Looking ahead as well, the company aims to break new ground in the development of firefighting technology. Rosenbauer strives to be the best in all areas. Its primary business goal is to achieve sustainably profitable growth and to continuously increase the enterprise value of the company. Rosenbauer benefits from the company's strengths in implementing this claim to leadership:

• a resilient business model with a high proportion of public-sector customers;
• its global presence and comprehensive service offer as the only system provider for preventive firefighting and disaster protection technology;
• its role as an innovation and technology leader;
• its strong, vertical integration and industrial production methods;
• the international reputation of the Rosenbauer brand; and
• its skilled and dedicated employees.

The starting point for business decisions and the controlling of the Group is its medium-term planning, which is produced for a period of three years. The investment budget and the annual budget are derived from this medium-term planning. During the year, the annual budget for the respective areas and the operating companies is monitored for target achievement on a monthly basis using tools including comparisons between target and actual performance, comparisons with the previous year, variance analyses and forecasts.

The key performance indicators in the Group are revenues and operating EBIT, the operating EBIT margin, ROCE (return on capital employed) and earnings before taxes. Further relevant key performance indicators are incoming orders and order backlog.

Rosenbauer is conscious of its particular social responsibility as a provider of equipment to fire services whose members show a high level of social commitment. The group of companies therefore also takes non-financial factors from the areas of the environment, human resources and compliance into account in its business activities, places great emphasis on sustainability and maintains continuous dialog with its stakeholders (see "Rosenbauer Sustainability Report" at www.rosenbauer.com).

ECONOMIC ENVIRONMENT1, 2

Global economy

According to calculations by the International Monetary Fund (IMF), the global economy somewhat recovered in 2021 after a pandemic-related slump the year before and grew significantly by 5.9%. Bad news in the second half of the year particularly slowed economic development and thwarted a broader recovery.

After the number of daily deaths due to COVID-19 dropped sharply worldwide from August to October, the emergence of the Omicron variant in November led to new travel restrictions and higher volatility in financial markets. The new viral mutation causes milder disease courses and fewer hospitalizations compared with the Delta variant, but is much more infectious.

In addition, disruptions in international supply chains have weighed on economic activity and hampered production, particularly in Europe and the United States. According to IMF team analysis, these disruptions may have cost between 0.5 and 1.0 percentage points of growth in the reporting year and contributed one percentage point to core inflation. Inflation has recently risen steadily overall, driven by different factors depending on the region.

North America

The pace of growth in the North American economy was slower than expected in the second half of 2021. Both private consumption and production slowed noticeably in this period. In this context, the renewed outbreaks of COVID-19, material shortages, rising energy costs and weakening tax support for private incomes have created headwinds. With growth of 5.6% and 4.7% respectively, growth rates in the US and Canada have fallen short of the latest forecasts.

Under these circumstances, the IMF has also scaled back its regional outlook for 2022. Accordingly, the US is expected to grow by 4.0% next year, with additional reference here to the early end of the Fed's accommodative monetary policy stance. At the same time, the \$ 1.2 trillion US infrastructure plan is anticipated to have limited impact in its first year. The Canadian economy is expected to expand by 4.1% in 2022 under the impact of weaker external demand.

Europe

After a remarkable upturn in the second and third quarters, the European economy grew more slowly again in the last three months of the reporting year. This was attributable to the resurgence of the COVID-19 pandemic, continued pressure on production from disrupted global supply chains, and higher energy prices. Despite this, Europe's year-end growth of 5.2% has been quite solid.

This year, economic output is expected to increase by only 3.9%, largely due to Germany and its sensitivity to supply chain issues. Recent mobility restrictions will also dampen eurozone growth. Spain is expected to record the strongest gain at 5.8%. However, the country also suffered the sharpest decline in the first year of the pandemic according to the IMF country comparison.

Asia

The emerging Asian markets grew consistently in 2021 and made up some of the lost ground. For example, the economic area grew by 7.2% last year, with India posting the highest growth of 9.0%. Recurring outbreaks of COVID-19, interruptions to industrial production due to power outages, declining real estate investment and a surprisingly rapid reduction in public investment caused China to lose momentum from mid-year. As a result, growth in China amounted to 8.1% at the end of the year.

For 2022, the Asian economy is also expecting lower growth of 5.9%. According to the IMF's current forecast, India will again achieve growth of 9.0%, while China will achieve growth of only 4.8% due to its zero-tolerance policy on controlling the pandemic and spending cuts in the real estate sector.

¹ IMF, World Economic Outlook, Update, January 25, 2022.

² World Bank, Global Economic Prospects, January 11, 2022.

INDUSTRY DEVELOPMENT

World firefighting market

The world firefighting market has an annual volume1 of approximately 20,400 vehicles with a total value of around €5.3 billion. This figure does not include compact vehicles up to a gross vehicle weight of 7.5 t, fire and safety equipment, service and stationary equipment.

Based on Rosenbauer's internal estimates, the global market volume is likely to have developed sideways in the reporting year, due to the sometimes rigorous measures taken to combat the pandemic and the massive disruptions to international supply chains. The strongest sales regions are Europe, North America and Asia, the biggest single markets the US, China and Germany.

North America

The North American firefighting market has been in very good shape in 2021, despite the COVID-19 pandemic. Procurement volumes are expected to have increased to over 6,000 vehicles in the past twelve months. This was due both to extensive funding programs for emergency response and electric mobility, as well as early orders from fire departments to prevent longer waiting times.

The strong demand should continue in 2022. The decisive factor will subsequently be how long the current supply chain difficulties will persist and weigh on production, as well as the availability of labor. Global trade has recently shown soft signs of improvement.

Europe

Various investment initiatives – primarily in Germany – have ensured strong tender activity. The resources of volunteer fire departments (mainly in the D-A-CH region but also South Tyrol and Slovenia) have been greatly reduced due to a lack of income from fixed activities. This effect will be felt in the procurement of equipment in the current year. Procurements in the Scandinavian countries may have reached an all-time high. Major investment programs are underway in some Central and Eastern European countries, such as in Poland and Romania.

The outlook for 2022 presents a familiar picture: In the D-A-CH region (Germany, Austria and Switzerland), the industry should continue to develop at a healthy rate and the project landscape in Southern and Southeastern Europe continues to be very dynamic. The "NextGenerationEU" development plan, which aims to make the European Union greener, more digitally oriented and more crisis-proof, should provide additional impetus.

Asia

The fragmented Asian firefighting market continued to be severely affected by COVID-19 in the second year of the pandemic. While demand for ARFF vehicles is slowly recovering, many municipalities are facing high healthcare costs. This is compounded by economic problems and trade restrictions in some countries in the region. Japan and Australia are the positive exceptions here.

China, Asia's largest single market, introduced trade barriers over a year ago in the wake of its economic conflict with the US. Since then, imports of firefighting vehicles have been subject to approval by the Ministry of Finance. Rigorous travel and quarantine regulations as well as local lockdowns make market development by international manufacturers difficult.

Even in 2022, only a slight improvement in the weak industry economy is expected. This is particularly due to low vaccination rates, which encourage new outbreaks of the coronavirus.

Middle East

In many countries in the Middle East, procurement has been decentralized in recent years. As a result, average order sizes have become smaller and peaks in demand have leveled out. Customers are increasingly requesting comprehensive system solutions, and pure vehicle purchases have taken a back seat.

At the time of reporting, the global economy was facing extreme fluctuations in the price of oil. Depending on further developments over the course of the year, there could be new potential for sales of Rosenbauer products.

Other markets

In Latin America and Africa, there is unchanged demand for firefighting technology. However, owing to stricken economies in numerous countries and the additional stresses caused by the COVID-19 pandemic, many projects were postponed again or contract awards were delayed.

¹ Last available market data from 2020. Own calculation based on figures from the World Bank and the UN as well as annual reports and expert estimates.

Economic report

OVERALL DEVELOPMENT 2021

In 2021, the global fire equipment sector trended sideways in a generally positive economic environment. At the same time, the supply of materials and parts to the industry deteriorated visibly from the middle of the year as a result of the surprisingly rapid recovery of the global economy. This, together with delayed vehicle handovers, put the brakes on the important year-end rally and, with the exception of the NOMA area and Preventive Fire Protection segments, the Rosenbauer Group reported lower revenues in all sales regions.

Incoming orders were strong by comparison, returning to the very high pre-crisis level of € 1,064.3 million in the reporting year. Overall, five of the six sales regions reported growth, with only the MENA area reporting a decline. The APAC, NISA, and NOMA areas recorded the largest increases in order intake. The order backlog of € 1,145.2 million as of December 31, 2021 (2020: € 1,072.1 million) was higher than consolidated revenues for the year.

A particular highlight in 2021 was the order placed by the Basel-Stadt professional fire department for four fully electric firefighting vehicles from the "Revolutionary Technology" (RT) model series. This is thus the first fleet order for the innovative municipal vehicle since its sales launch in September 2020. It was the fire department of a Swiss airport that put the first PANTHER into service as long as 30 years ago, thus allowing Rosenbauer to define a new product category.

2021 Consolidated revenues EBIT

DEVELOPMENT OF REVENUES AND EARNINGS

Revenue development

Revenues fell to € 975.1 million in 2021 (2020: € 1,044.2 million). After a satisfactory first half of the year, supply chain problems and production disruptions increasingly occurred from the middle of the year onwards, leading to delays in vehicle handovers. As a result of the renewed lockdown in Austria in December, further revenues were postponed beyond the turn of the year. Under these difficult conditions the NOMA area increased its deliveries, and the Preventive Fire Protection segment also expanded its business volume.

The Group's strongest product segment in terms of revenues was Vehicles at 76% (2020: 78%). This was followed by the Fire & Safety Equipment segment, which accounted for 9% (2020: 8%) of total revenues at € 88.6 million (2020: € 86.3 million). Customer Service contributed 8% (2020: 7%) and the Other Revenues segment 4% (2020: 4%). Preventive Fire Protection generated revenues of € 29.8 million (2020: € 29.1 million), contributing 3% (2020: 3%) to consolidated revenues.

By far the largest share of revenues was contributed by the parent company Rosenbauer International AG at € 444.3 million (2020: € 525.9 million). With an export ratio of 89% (2020: 91%) and deliveries to more than 120 countries, Rosenbauer has the largest international presence in the firefighting industry.

At the same time, the cost of sales decreased to € 818.6 million (2020: € 864.0 million). Gross profit consequently decreased by 13% to € 156.5 million (2020: € 180.2 million). The gross profit margin amounted to 19.1% (2020: 20.9%).

Cost development

At € 547.8 million (2020: € 587.5 million), the cost of materials accounted for the largest share of the cost of sales, which was thus on a par with the previous year in terms of revenues. Proportionate personnel expenses amounted to € 171.5 million (2020: € 171.4 million), slightly higher as a percentage of revenues than in the previous year. Depreciation and amortization expenses on property, plant and equipment and intangible assets increased from € 11.9 million to € 13.7 million in the reporting year.

Structural costs comprise research and development, sales and administrative expenses and increased slightly from € 127.3 million to € 129.1 million. The capitalized research and develop-

Consolidated revenues/EBIT (in € million)

ment costs, which were reported in the income statement in 2021, increased from € 6.6 million to € 8.9 million.

Other operating expenses of € 1.3 million (2020: € 1.7 million) were offset by other operating income of € 9.0 million (2020: € 6.5 million).

Result of operations

The Rosenbauer Group is reporting EBIT of € 35.0 million for the 2021 financial year (2020: € 57.7 million). The bulk of this, namely € 22.1 million, was generated in the fourth quarter. The lower operating result is mainly attributable to the decline in gross profit.

The financial result was negative at € -6.2 million and was therefore at the level of the previous year (2020: € -6.4 million).

Earnings before taxes (EBT) amounted to € 28.9 million in the reporting period (2020: € 51.3 million). The reported tax expense was € 5.7 million (2020: € 10.3 million); the tax rate was 20% (2020: 20%). This includes a tax claim against the former managing director and beneficial owner of a subsidiary amounting to € 3.4 million, which Rosenbauer International AG, as the legal successor, must bear as a first step. After deducting income taxes, the profit for the period was € 23.2 million (2020: € 41.0 million).

The non-controlling interests held by the partners in Rosenbauer America, Rosenbauer Española, Rosenbauer Slovenia, Rosenbauer UK, Rosenbauer South Africa, Eskay Rosenbauer Brunei and Rosenbauer Saudi Arabia amounted to € 7.8 million in the reporting year (2020: € 12.2 million).

Orders

The Rosenbauer Group reported incoming orders of € 1,064.3 million in the past year (2020: € 1,007.7 million). Five of the six sales regions recorded growth. The APAC area reported the greatest relative growth.

Demand was consistently above expectations over the course of the year. For example, in May the Swedish Armed Forces won a major tender for 22 ARFF vehicles, and in August the Bundeswehr placed an order for 76 high-capacity forest firefighting vehicles with off-road capability.

The order backlog of € 1,145.2 million as of December 31, 2021 (2020: € 1,072.1 million) was significantly higher than consolidated revenues for the year.

Incoming orders/ order backlog as of Dec. 31 (in € million)

SEGMENT REPORTING – BUSINESS SEGMENTS (BY AREA)

Segment reporting is based on the five sales areas: CEEU (Central and Eastern Europe), NISA (Northern Europe, Iberia, South America, and Africa), MENA (Middle East and North Africa), APAC (Asia-Pacific), and NOMA (North and Central America). Preventive Fire Protection is presented as a separate segment.

Area CEEU

The CEEU area comprises the countries of Central, Eastern and Southern Europe, with the DACH region (Germany, Austria, Switzerland) as its historic domestic market.

The CEEU area includes the Group companies Rosenbauer International and Rosenbauer Österreich in Leonding (Austria), Rosenbauer Deutschland in Luckenwalde (Germany), Rosenbauer Karlsruhe (Germany), Rosenbauer Slovenia in Radgona (Slovenia), Rosenbauer Italia in Andrian (Italy), Rosenbauer Rovereto (Italy), Rosenbauer Schweiz in Oberglatt (Switzerland) and Rosenbauer Polska in Lomianki (Poland). The plants in the CEEU area (Leonding, Neidling, Karlsruhe, Radgona and Rovereto) produce for all areas, while the Luckenwalde plant primarily produces for the German market.

Revenues by areas in 2021

At the beginning of 2021, Rosenbauer was awarded the contract as the best bidder by the German Ministry of the Interior on behalf of the Federal Office of Civil Protection and Disaster Assistance (BBK) for the delivery of 61 LF-KatS firefighting group vehicles with optional expansion to up to 182 vehicles. They are part of a multi-year procurement program in the course of which Rosenbauer has already delivered 308 vehicles of the same design. Production will take place in Radgona, the competence center for ET series vehicles.

Rosenbauer Germany was awarded a contract by BwFuhrparkService GmbH, the fleet services company of the Bundeswehr, to supply 76 tank fire trucks to combat forest fires. This is the largest order of its kind for the high-capacity specialty vehicles. The vehicles are based on the MT series with a robust off-road chassis and high-quality extinguishing systems.

Market development

Growth rates in most markets within the CEEU area have reached pre-pandemic levels. In the long term, stronger growth is forecast in Eastern Europe, while growth in the Central European area is expected to be more subdued. The forecasts for Italy are noteworthy; after ten years of crisis, there are signs of a recovery in this market economy. Various investment initiatives – primarily in Germany – have ensured strong tender activity. The resources of the voluntary fire departments (mainly in the D-A-CH region but also in South Tyrol and Slovenia) have been sharply reduced due to a lack of income from social activities. This effect will be felt in the procurement of equipment in 2022.

Incoming orders in this area in the reporting year were up on the previous year at € 412.1 million (2020: € 402.7 million).

Business development

Revenues in the CEEU area fell to € 346.8 million in 2021 (2020: € 363.0 million). Germany accounted for the largest share, followed by Austria. Even though the trend toward collective tenders continues, it is still predominantly individual vehicles that are sold in the CEEU area.

The CEEU area contributed around 35% of consolidated revenues in 2021 (2020: 35%). EBIT in the reporting year amounted to € 16.7 million (2020: € 19.3 million), with an EBIT margin of 4.8% (2020: 5.3%).

Key figures

(in € million)	2019	2020	2021
Revenues	343.9	363.0	346.8
EBIT	23.7	19.3	16.7
Order intake	370.7	402.7	412.1
Order backlog	312.0	366.3	426.0

Area NISA

The NISA sales area comprises Western European countries from the North Cape to Gibraltar and most of the African and South American nations.

The NISA area includes the Group companies Rosenbauer Española in Madrid (Spain), Rosenbauer South Africa in Johannesburg (South Africa), Rosenbauer France in Meyzieu (France) and Rosenbauer UK in Meltham (UK). The Ciansa plant in Linares, Spain, builds vehicles for the NISA region as well as for other regions/areas. The current production program includes 11 small equipment vehicles for the Spanish airport operator Aena and 54 municipal vehicles from the Efficient Technology (ET) series for various Spanish fire departments and for the Hollands Midden fire department region. In the Netherlands, firefighting vehicles are usually procured in collective tenders for entire regions. In addition to Hollands Midden, the Gelderland Midden and Drenthe regions have also recently placed orders with Rosenbauer. They will each receive 23 Advanced Technology (AT) vehicles in the coming years.

Market development

The countries in the NISA area again had to cope with the additional burdens of the COVID-19 pandemic in 2021. Nevertheless, a slight increase in tendering activities was recorded. These developments are also reflected in the incoming orders in the NISA area which were up from € 98.9 million in 2020 to € 116.3 million in 2021. Nine Danish fire departments jointly tendered for the next generation of their tank fire trucks. Rosenbauer was awarded the contract in August 2021. In total, up to 45 vehicles are to be procured; 35 have already been ordered and ten more can be ordered as options.

Business development

The NISA area generated revenues of € 93.2 million in 2021 (2020: € 114.5 million), representing 10% of all revenues in the Group (2020: 11%). In Ecuador, the first two Spanish-built ETs – the very first in South America – were delivered to the Cayambe Fire Department and a PANTHER 6x6 to Quito Airport. Tunisia and Cape Verde are two other countries in the NISA area that have opted for the PANTHER. In both cases, the customers took their cue from airport operators who have recently procured PANTHER vehicles. For example, the Tunisian airport authority OACA (Office de l'aviation civile et des aéroports) opted for the same vehicle concept as the Moroccan ONDA.

EBIT in the NISA area decreased to € 1.2 million in the reporting year (2020: € 3.5 million), while the EBIT margin was 1.2% (2020: 3.1%).

Key figures

(in € million)	2019	2020	2021
Revenues	114.6	114.5	93.2
EBIT	4.5	3.5	1.2
Order intake	113.6	98.9	116.3
Order backlog	113.8	89.9	113.2

Area MENA

The MENA area geographically comprises the countries in the Middle East and North Africa.

The MENA area includes the Group companies Rosenbauer Saudi Arabia, headquartered in Riyadh (Saudi Arabia), with the production site in King Abdullah Economic City (KAEC), and Rosenbauer MENA Trading – FZE (Dubai) with a subsidiary in Abu Dhabi (United Arab Emirates).

The KAEC plant produces solely for MENA sales.

Market development

Vehicle procurement has been decentralized in many Middle Eastern countries. This has resulted in smaller order sizes and fewer peaks in demand. There has also been an increased demand for comprehensive customer support that goes beyond vehicle purchases. The petroleum industry based in the region continues to have a need for high-performance specialty vehicles. Rosenbauer serves this segment with the newly developed TIGON in particular. Following the United Arab Emirates (UAE) and Saudi Arabia, a first customer from Oman has also opted for the TIGON. The order was placed by Petroleum Development Oman (PDO), which operates a total of seven oil fields. The oil company Saudi Aramco has ordered 23 industrial vehicles from Rosenbauer in the last twelve months. For the first time, the customer relied not on a US foam system but entirely on Rosenbauer firefighting technology.

At the time of reporting, the global economy was facing extreme fluctuations in the price of oil. Depending on further developments over the course of the year, there could be new potential for sales of Rosenbauer products.

Incoming orders in the MENA area were therefore significantly down from the prior year at € 102.2 million (€ 120.7 million).

Business development

Revenues in the MENA area decreased significantly to € 123.7 million in 2021, compared with € 150.1 million a year earlier. The largest delivery went to Civil Defense Qatar. At the end of the year, it received a total of 64 vehicles from a major order comprising over 100 vehicles, including twelve AT and eleven large tank firefighting vehicles from Production in Leonding and 25 Rapid Intervention Vehicles from Neidling.

The MENA area contributed 13% of the Group's total revenues in the reporting year (2020: 14%). EBIT reached € 5.2 million (2020: € 16.2 million), and the EBIT margin was 4.2% (2020: 10.8%).

Key figures

(in € million)	2019	2020	2021
Revenues	96.6	150.1	123.7
EBIT	3.1	16.2	5.2
Order intake	123.9	120.7	102.2
Order backlog	176.6	138.5	115.1

Area APAC

The APAC area comprises the entire Asia-Pacific region, Russia, Turkey, the CIS countries, Japan, India and China.

The area also includes the Group companies S. K. Rosenbauer in Singapore, Rosenbauer Australia based in Brisbane, Rosenbauer Fire Fighting Technology (Yunnan) in China, and a minority interest in PA "Fire-fighting special technics" in Moscow, Russia. There are further sales and service locations in Brunei and the Philippines. The Singapore plant produces vehicles for the Southeast Asian market, while the Moscow plant produces municipal firefighting vehicles for Russia.

Market development

The fragmented Asian firefighting market continued to be severely affected by COVID-19 in the second year of the pandemic. Low vaccination rates and uncertainty about new outbreaks of coronavirus and frequent lockdowns are slowing economic recovery. The market for ARFF vehicles showed some recovery. For example, Rosenbauer won Hong Kong Airport's prestigious tender for nine PANTHERs and five hose tenders (support vehicles). In the future, they will provide security for the newly built third runway. Despite the very difficult overall

economic situation, incoming orders in the APAC area showed a pleasing increase to € 113.1 million in the reporting year (2020: € 93.6 million).

Business development

Revenues in the APAC area fell to € 117.1 million in 2021 (2020: € 127.0 million). In 2021, a municipal fire service in Japan (Tokyo Fire Department) was supplied for the first time with a Europeanmade tank fire truck, and several island states in the South Pacific were supplied with vehicles from the PANTHER series. In New Zealand, the highly maneuverable PANTHER 6x6 S is supplying several regional airports. In India, the new airport in Goa is being equipped with PANTHER vehicles, and the Mumbai Fire Brigade has ordered two aerial ladders with a rescue height of 64 m for the first time.

Its share of total revenues was 12% (2020: 12%). EBIT dropped to € 2.5 million after € 4.4 million in the previous year, with the EBIT margin at 2.2% (2020: 3.5%).

Key figures

2019	2020	2021
146.4	127.0	117.1
9.7	4.4	2.5
200.1	93.6	113.1
175.8	120.2	110.1

Area NOMA

The NOMA area comprises the US, Canada, and countries in Central America and the Caribbean. In addition to the holding company Rosenbauer America, based in Lyons, the area also includes the production companies Rosenbauer Minnesota and Rosenbauer Motors in Wyoming (Minnesota), Rosenbauer South Dakota in Lyons (South Dakota) and Rosenbauer Aerials in Fremont (Nebraska). The fire service vehicles are manufactured to US standards and most of them are delivered to the NOMA sales area, but also to customers in the MENA, NISA, and APAC areas.

Market development

The North American firefighting market has been in very good shape in 2021, despite the COVID-19 pandemic. Procurement volumes are expected to have increased again to over 6,000 vehicles in the past twelve months. This was due both to extensive funding programs for emergency response and to early orders from fire departments to prevent longer waiting times.

The NOMA area started the current financial year with an extremely robust order backlog. In terms of order intake, recent increases in procurements by local authorities and government agencies have more than offset the decline in airport business. In addition to the fully battery-electric "Revolutionary Technology,"

Rosenbauer's innovative battery-powered extinguishing system has also met with growing interest among customers.

The intensified sales activities in the area of large municipalities (Fleet Accounts) are showing initial good results. Not only were several dealerships in larger cities won as partners for the Rosenbauer network, including a fourth dealer on the East Coast, but the first fleet order from the Nashville Fire Department for 20 vehicles was also received in 2021. Servicing municipal fire departments with large vehicle fleets that are supported throughout the entire product life cycle has attractive growth potential.

Fleet accounts refer to municipal fire departments with larger vehicle fleets that are intensively supported by the dealers, starting with sales, including financing models, through to after-sales service and replacement purchases. The advantage here is that fire departments order entire fleets and place large orders – with the aim of working with their supply and service partners over the long term. In order to meet market expectations, the first step was to create the position of Fleet Accounts Manager at Rosenbauer America who evaluates the market, identifies sales potential, and supports dealers in sales.

Incoming orders in the NOMA area amounted to € 290.1 million in the reporting year, up on the previous year (2020: € 263.1 million).

Business development

In the reporting period, the NOMA area generated revenues of € 264.5 million, representing a slight year-on-year increase (2020: € 260.9 million). This corresponds to a 27% share of consolidated revenues (2020: 25%). Thirty Urban Interface Pumper (Timberwolf) vehicles were delivered to the Jamaica Fire Department, bringing the Rosenbauer fleet in the Caribbean nation to over 80 vehicles.

EBIT was down on the previous year at € 9.5 million (2020: € 15.1 million), with an EBIT margin of 3.6% (2020: 5.8%).

Key figures

(in € million)	2019	2020	2021
Revenues	255.4	260.9	264.5
EBIT	12.6	15.1	9.5
Order intake	237.4	263.1	290.1
Order backlog	355.4	337.6	357.7

Preventive Fire Protection

Preventive Fire Protection handles the planning, installation and maintenance of stationary firefighting and fire alarm systems. The segment is being cultivated by the two Group companies Rosenbauer Brandschutz in Leonding (Austria) and Rosenbauer Brandschutz Deutschland in Mogendorf. Both companies are

VdS-approved installation companies and certified to ISO 9001, which is internationally recognized as a standard of quality. This makes Rosenbauer Brandschutz one of the few companies in German-speaking countries to hold VdS approval. This provides good market access and is often a necessary prerequisite for being able to bid in tenders.

In addition to its headquarters in Mogendorf, Rosenbauer Brandschutz has other locations in Germany. The Gladbeck location is responsible for planning water extinguishing systems. After-sales service for the water extinguishing systems is provided by the location in Hilden. A sales team is also located in Hattersheim.

Market development

Rosenbauer sees growth potential in the Preventive Fire Protection segment by targeting new customer groups, on the one hand by expanding the product portfolio (sprinkler and deluge systems) on the Austrian market, and on the other hand by developing new preventive solutions for early detection, such as in the recycling (rechargeable batteries) and energy industries.

Order intake in Preventive Fire Protection developed positively and increased to € 30.5 million in 2021 compared to € 28.7 million in 2020.

Business development

Revenues in Preventive Fire Protection rose from € 28.7 million to € 29.8 million in the reporting period. The share of total revenues is thus 3% (2020: 3%). The recycling industry is one of the most important customers for Rosenbauer fire protection systems. In 2021, equipment was installed at a waste materials center in Lustenau, a waste treatment plant in Frohnleiten, and a waste company in Linz. In Vorarlberg, two fully automatic turret extinguishing systems (RPE Turret RM35) were installed, which are activated via the RPA Infrared Detection Ignis3D early fire detection system. The largest volume order is currently being handled in Germany at a recycling company. Deluge systems, fire alarm systems, turrets, hydrants, technical control centers and a 650 m³ storage tank are being installed there.

EBIT was only just in positive territory at € 3 thousand (2020: € -0.8 million).

Key figures (in € million) 2019 2020 2021 Revenues 21.2 28.7 29.8 EBIT –1.7 –0.8 0 Order intake 27.3 28.7 30.5 Order backlog 15.9 19.6 23.1

SEGMENT REPORTING – INFORMATION ON BUSINESS UNITS (BY PRODUCT)

Vehicles

Rosenbauer produces all types of firefighting vehicles to European and US standards in addition to many other national standards: municipal, ARFF and industrial vehicles plus hydraulic firefighting and rescue platforms. Municipal vehicles by far accounted for the largest share of production in 2021; most of the vehicles were manufactured for fire departments in Austria, Germany and the US.

A total of 2,000 vehicles were delivered in the reporting year (2020: 2,238 vehicles). With revenues of € 735.0 million (2020: € 816.8 million), this product segment accounted for the highest share of the Group's revenues at around 76% (2020: 78%). The biggest markets in terms of volume in 2021 were Germany, the US and Austria.

Vehicle revenue also includes firefighting systems, most of which are installed in our own vehicles. The product portfolio includes firefighting pumps, pump systems and portable fire pumps, foam proportioning systems, compressed air (CAFS) and high-pressure firefighting systems, turrets for vehicles and stationary fire protection systems as well as nozzles, extinguishing arms and motor pump units.

In 2021, Rosenbauer worked intensively on expanding its electric vehicle fleet. The RT was brought to series maturity and production set up. The first vehicle for the US market was developed and produced together with the Los Angeles Fire Department. In the aerial ladder segment, development of the electric aerial ladder began, with more vehicles to be presented at the industry's leading trade fair, Interschutz, in June 2022.

Key figures

2019 2020	2021
860.4 783.9	834.4
765.3 816.8	735.0

20% Industrial firefighting vehicles 15% ARFF vehicles 65% Municipal firefighting vehicles

Vehicle revenue by category in 2021

Fire & Safety Equipment

Rosenbauer equips firefighters and rescue workers from head to toe with personal protective equipment and has everything that fire departments need in its technical equipment range – from generators to complex equipment for dealing with hazardous substances.

The sale of own products, all of which are located in the very top-quality segment and ideally suited to customer requirements, are being promoted around the world. Particularly noteworthy in this context are the newly developed BOROS fire service boots and the HEROS H30 fire service helmet.

The first models from the BOROS collection (slip boots BOROS B1 and BOROS B4 with a quick-release fastening system developed by Rosenbauer itself) were launched in spring 2021. In terms of sustainable production, premium leather from environmentally friendly and socially responsible manufacturing is used as the main material. The boots themselves are produced in Central Europe.

Rosenbauer set a new technical standard with the HEROS H30 fire service helmet, a hard hat with a new position light and significantly less weight than other Type A helmets. Products such as the new RTE AX B16 high-performance battery-powered ventilator, protective suits, forest fire equipment, submersible pumps, LED lighting systems, nozzles, or power generators round out the portfolio in the Equipment segment.

In the fall of 2021, Rosenbauer launched online sales of its equipment products. The new purchasing portal offers fire departments and emergency services a modern, location- and time-independent platform for easily procuring the equipment they need. Hundreds of products are already available and the range is constantly being expanded. The platform can be used for requesting offers as well as for inquiries and direct orders.

The Fire & Safety Equipment product segment generated revenues of € 88.6 million in 2021 (2020: € 86.3 million), over

Vehicles delivered

65% of which from its own brands. The share of consolidated revenues was around 9% (2020: 8%). Numerous fire departments from all over the world opted for HEROS helmets in the reporting year, especially for the new HEROS H30. Rosenbauer is now one of the world's largest manufacturers of helmets in this segment, with production capacity of around 130,000 units p.a. and scope for expansion. Already in the first year after market launch, the new HEROS H30 helmet and the new BOROS boot line achieved a share of more than 20% in the respective product segment, with a strong upward trend.

Key figures

2019	2020	2021
89.9	94.1	83.6
85.1	86.3	88.6

Customer Service

Rosenbauer operates service centers (25 in total) through which regional customer service is managed in all areas. Around 500 service personnel are at work worldwide, and another 120 service partners complete the global Customer Service network.

Customer Service offers defined service packages with graded services, as well as training and education programs. Other key elements are spare parts business, repairs and general overhauls in addition to the rental of vehicles and equipment. The Customer Service segment also includes business with digital products and services. These comprise robots for firefighting operations, simulators for training operations, as well as the Connected Command (formerly EMEREC) deployment management system and the Connected Fleet vehicle or fleet management system.

The revenues generated in the Customer Service segment amounted to € 78.4 million in 2021 (2020: € 72.2 million). The share of consolidated revenues increased year-on-year from 7% to 8%.

Investments/depreciation (in € million)

Key figures (in € million)	2019	2020	2021
Order intake	60.5	66.5	80.3
Revenues	72.4	72.2	78.4

Other Revenues

Other revenues amounted to € 43.3 million in the past financial year (2020: € 39.8 million). They essentially include freight and delivery costs and normally have hardly any significant impact on the company's results.

Key figures

(in € million)	2019	2020	2021
Order intake	34.9	34.5	35.5
Revenues	33.7	39.8	43.3

FINANCIAL POSITION, NET ASSETS AND CAPITAL STRUCTURE

Principles of financial management

Rosenbauer's financial management system provides financial resources within the Group, ensures financial independence and that the company is liquid at all times, and monitors all interest and currency risks. In order to safeguard liquidity, suitable financing instruments are used that guarantee the necessary freedom to finance operations, investments and targeted growth.

Treasury manages and ensures the Group's liquidity, regularly assesses liquidity requirements and works closely with the operating units.

Investments

Investments (in rights and property, plant and equipment) by the Rosenbauer Group of € 28.2 million in 2021 were lower than in the previous year (2020: € 35.0 million). Investment has outstripped depreciation since 2005 in line with the goal of sustainable growth. In the reporting year, depreciation and amortization (rights and property, plant, and equipment) was above the previous year's level at € 20.4 million (2020: € 18.2 million).

Efficient production

In the reporting year, Rosenbauer set up one of the most modern machine centers with an articulated-arm robot in Leonding. Pump parts such as the gunmetal housing of the N130 weighing around 96 kg can be machined on the new milling/turning machine. The heavy-duty robot loads it with blanks from a pallet. With the new system, an unmanned third shift can be implemented and the efficiency of prefabrication significantly increased.

Thanks to the partial redesign and the changeover from stationary to line assembly, the RM35 and RM80 turrets can now be manufactured in one line with shorter assembly times. In addition to efficient production, the new design also unbundles the material flow, shortens channels and creates a better overview. The many identical parts of the two turrets are also delivered via KANBAN logistics, which makes work much easier and saves costs.

At the Neidling plant, two short lines were set up for the production of 265 identical firefighting vehicles with portable pump (TSF-W) for Mecklenburg-Western Pomerania in addition to the normal vehicle program. Both the construction of the crew compartment modules and the body assembly are carried out on dedicated lines with three stations. A KANBAN system installed at all workplaces ensures optimum material flow.

Expanded capacity

Rosenbauer is always in close contact with its customers and, with the "Rosenbauer Customer Center Austria" newly opened at the Asten location in April 2021, has created a contact point for all matters – from service to the procurement of equipment or spare parts. The extensive service infrastructure combined with a shop offers contemporary customer service in the sense of a one-stop shop.

With sustainability in mind, Rosenbauer produces equipment and components that are as durable as possible and whose service life can be extended. To this end, an assembly workshop with metalworking machinery and a welding workplace has been set up at the Asten location in order to be able to carry out minor

modifications and refurbishment, the modernization and general overhaul of firefighting vehicles. Rosenbauer also plans to use the Asten location for international refurbishment of vehicles.

The Viersen location in North Rhine-Westphalia was also expanded in the reporting year. The expansion mainly comprised an additional service hall with eight storage spaces and more space outside, which means that more than 6,000 m2 of service and storage space is now available at the Viersen location. For fire departments from North Rhine-Westphalia and neighboring states, the Viersen customer center is the first point of contact for all their needs.

At the Luckenwalde location, the decision to expand and modernize was made in December 2021. In the first stage of expansion, the construction of a new, flexible factory hall with an area of approximately 2,300 m² is planned, which will be used for final assembly, handover and service work. This is intended to significantly relieve the pressure on areas that struggle with a lack of space. Furthermore, the additional capacity will help to provide customers with even better service.

Efficient processes

In the reporting year, Rosenbauer continued as planned with the introduction of SAP S/4HANA as the new, Group-wide ERP system. The first release will take place in Sales and Service at Rosenbauer Switzerland, as these areas already have experience with SAP. The go-live took place at the beginning of February 2022 and production orders have since been processed via the new system. Rosenbauer Slovenia is acting as the pilot company in the area of Production, with roll-out planned for 2023.

Structure of the statement of financial position over three years (in € million)

Financing

The Group's financing has always followed the principles of maintaining assured liquidity. Total asset management ensures the optimization of current assets with the continuous monitoring of inventories and trade receivables.

Equity increased to € 225.1 million as of the end of the year (2020: € 227.2 million). As a result of the simultaneous decrease in total assets, the equity ratio increased slightly to 25.2% (2020: 24.9%).

Non-current interest-bearing liabilities, predominantly fixed interest agreements, were significantly lower in 2021 at € 161.1 million (2020: € 219.7 million). The interest incurred on total interest-bearing financial liabilities amounted to € 4.9 million (2020: € 4.8 million). The average interest rate was 1.5% (2020: 1.3%). Benefiting from consistently low interest rates, Rosenbauer leveraged its good credit rating to optimize its financing costs.

The accounting ratios of the Rosenbauer Group reflect the structure of business in the firefighting industry. As a result of efforts to reduce trade working capital, the Group's net debt (the net amount of interest-bearing liabilities less cash and cash equivalents and securities) fell to € 203.6 million (2020: € 289.3 million). The gearing ratio fell to 90.4% (2020: 127.4%).

The net cash flow from operating activities increased significantly to € 145.8 million in 2021 (2020: € 96.4 million). This development is mainly due to the significant reduction in working capital, in particular through the reduction of receivables and inventories.

Key figures (in € million)	2019	2020	2021
Capital Employed1	603.8	653.8	610.5
ROCE	8.6%	8.8%	5.7%
ROE	18.6%	21.3%	12.8%

¹ Average

Asset structure

The financial situation of the Rosenbauer Group remains solid. Total assets decreased as against the previous year and amounted to € 891.6 million as of December 31, 2021 (2020: € 911.2 million).

Non-current assets increased significantly and amounted to € 258.8 million at the end of the year (2020: € 237.5 million). Right-of-use assets, which have also been recognized in noncurrent assets since 2019 due to IFRS 16 "Leases," increased to € 35.2 million (2020: € 32.2 million). Current assets amounted to € 632.8 million (2020: € 673.7 million).

In summer 2020, Rosenbauer started a project to optimize the cash conversion cycle, which aims to reduce trade working capital. By the end of 2021, trade working capital had improved to € 354.3 million (2020: € 421.1 million). This decrease is mainly due to a significant reduction in trade receivables. Receivables dropped to € 159.0 million (2020: € 236.7 million).

Current interest-bearing liabilities increased from € 56.4 million to € 72.5 million in the reporting year.

PROCUREMENT, LOGISTICS AND PRODUCTION

Purchasing and supplier policy

It is of essential importance to the business success of the Rosenbauer Group to only work with the best and most innovative suppliers. Fire departments' demands are constantly changing, and Rosenbauer and its suppliers must be just as flexible in how they react. Rosenbauer deliberately sets great store by close cooperation based on a spirit of partnership with its suppliers, who are carefully assessed and selected. Together, strategies are developed to optimize cooperation, improve the logistics chain, satisfy environmental aspects and even to develop innovative product solutions. One of the goals of the intensive cooperation with suppliers is to leverage not just Rosenbauer's own knowledge, but also the expertise, creativity and experience of its suppliers. Particularly in years of a difficult procurement environment such as 2021, it became apparent that the long-standing partnerships helped to secure challenging demand situations.

High purchasing volume

Given the high material intensity (57% of revenues) and the corresponding high procurement volumes, on-time production is a central challenge. The majority of Rosenbauer's procurement volume is sourced in Europe, primarily in Austria and Germany, and the rest mostly comes from the US. Chassis make up the largest share of the Group's procurement volumes. For Rosenbauer they are generally a pass-through accounting item. Vehicles for the American market, as well as the complete PANTHER series and the new RT, are built on proprietary chassis manufactured at Rosenbauer Motors in Wyoming (Minnesota) and in Leonding.

Cost increases and material availability

The first signs of bottlenecks for raw materials such as aluminum and steel became apparent as early as the first quarter of 2021. Increased demand was accompanied by identifiable production bottlenecks in the supply chains, which consequently resulted in unusually significant cost increases in the course of the year. There were also disruptions in freight traffic, such as in the availability of containers, backlogs at ports and consequently an

increase in transportation costs. Longer-term supply contracts allowed some of the price increases to be delayed.

In addition to price developments, there were also noticeable increases in delivery times. This was most apparent with chassis or electronic components, but delays that were difficult to predict also occurred in other product groups, such as with certain plastic parts and cable connector systems. Targeted priority actions and proactive involvement of suppliers reduced the disruption for production and customers. In some cases, Rosenbauer helped out suppliers with parts and components or even manufactured certain parts itself in order to safeguard its own supply chain.

As part of an annual exchange of experiences, the responsible persons discuss both the current situation and the topics from the 2024 purchasing strategy – such as sustainable purchasing, commodity group strategies, supplier onboarding or material compliance – and how these can be implemented as part of the overall strategy.

OUTLOOK

There are no signs of a sustained easing of the situation on the procurement market in 2022. Manufacturers of electronic components announced further material shortages, which also affected our chassis suppliers. Price pressure on energy-intensive manufactured products and probably also on raw materials themselves will lead to new cost increases along the supply chains. Rosenbauer has partially hedged against these risks.

SUPPLEMENTARY REPORT

On top of the COVID-19 pandemic and the resulting difficulties in supply chains and production planning, pressure on the international energy and raw materials markets is intensifying as a result of the war in Ukraine that began at the end of February. Although Rosenbauer is not directly affected by these crises, the difficult framework conditions that also impacted the year 2021 will continue. At present, the crises do not have a significant impact on the recoverability of balance sheet recognition as of December 31, 2021, although it will become increasingly difficult to achieve the targets for 2022.

Apart from the global crises, there have been no other events of particular significance for the company that occurred after the end of the reporting period on December 31, 2021, that would have altered its net assets, financial position or result of operations.

Other legal information

NON-FINANCIAL DECLARATION/SUSTAINABILITY

Sustainability concept

At Rosenbauer, sustainability means taking corporate social responsibility for long-term economic success in harmony with the environment and society. Sustainably profitable growth is a declared corporate goal. All relevant stakeholders will be involved here and addressed directly.

Rosenbauer's sustainability strategy sets out the key areas for action. In addition to the efficient use of resources, Rosenbauer as a technology leader aims to use future-oriented materials to create products that help customers protect life and infrastructure. Furthermore, as a top employer, Rosenbauer aspires to offer its employees an optimal work–life balance and to create a modern and, above all, safe working environment for them.

The sustainability strategy is embedded in corporate strategy; it is founded on Rosenbauer's brand values. By tradition curious, Rosenbauer is tackling the challenges of modern fire services around the world and moving forward with confidence. As their partner, Rosenbauer works with a focus on product and service solutions that make the everyday work of emergency service teams easier and, above all, safer.

In its activities, the Group is not just committed to legal provisions, but also has its own rules such as its Code of Conduct, which go even farther.

Sustainability management

Organizationally speaking, Rosenbauer's Sustainability Management is positioned in the Corporate Communication & Investor Relations department, and reports to the Executive Board. The aim of Sustainability Management is to consider the environmental and societal impact of all business processes and to balance

Employees by countries 2021

the company's economic objectives with its ecological and social ideals. Sustainability Management and operational units work together closely on this. Both quantitative and qualitative instruments are used in the monitoring and annual review of target achievement.

Sustainability reporting

Since the 2017 financial year, Rosenbauer has published an annual sustainability report that is available for download from the Rosenbauer website. This was prepared in accordance with the standards of the Global Reporting Initiative (GRI) and the requirements of the Nachhaltigkeits- und Diversitätsverbesserungsgesetz (NaDiVeG − Austrian Sustainability and Diversity Improvement Act) and is a separate non-financial report in accordance with section 267a of the Unternehmensgesetzbuch (UGB – Austrian Commercial Code). In 2021, the report was examined and approved by the Supervisory Board.

For the reporting year 2021, Rosenbauer is subject for the first time to the reporting obligation pursuant to Article 8 of the EU Taxonomy Regulation. For this reporting year, Rosenbauer is required to disclose the share of taxonomy-compliant and non-taxonomy-compliant economic activities in total revenues, capital expenditure and operating expenses as well as corresponding qualitative information on these. Further information can be found in Rosenbauer's Sustainability Report 2021 from page 15.

EMPLOYEES

Management of the COVID-19 pandemic

The COVID-19 crisis team at Rosenbauer headquarters also continued its work in 2021. This crisis team took over the global management of COVID-19, from imposing travel restrictions to

implementing protective measures. Action plans were drawn up on a daily basis, translated into various languages, and made available to all Group companies.

Working conditions at Rosenbauer sites were adapted to minimize the risk of infection. In addition to maintaining extensive opportunities for office employees to work remotely, shift and work schedules were reorganized so that the necessary social distancing guidelines could be ensured. Management's aim was to keep the negative effects as low as possible by making adjustments to the production program and by making use of short-time working and other job-securing measures.

In the event of suspected infections, the persons affected were sent into quarantine at an early stage even before official test results were available, even though there was no reimbursement of costs. This measure also helped to keep the number of cases at the sites low.

Once vaccines were available, vaccination appointments were offered as early as possible at the company's main site in Leonding. In total, more than 250 employees took advantage of this opportunity. A number of other employees had already been vaccinated as part of campaigns aimed at specific target groups.

Personnel policy

Rosenbauer pursues a consistent growth strategy with the assistance of modern personnel management. The most important goals of this are to position the company as an attractive employer in the public eye, to implement modern management tools in operational processes, to promote internationality and diversity in the employee structure and to create the framework for a performance-oriented corporate culture.

The company sets great store by both professionally and socially competent employees and supports them in the targeted and ongoing development of their skills. In addition to an extensive qualifications program there are special programs for team and management development. The COVID-19 pandemic has had an impact on the growth-related staff expansion that began at the end of 2017. The Group employed 4,130 employees as of the end of 2021, representing a growth of 3.7% compared with the previous year. The Group also had a total of 176 temporary employees (2020: 244) as of the end of 2021.

Personnel development

Employee development and training are among the most important tasks of HR management. Rosenbauer continually evaluates its range of training and development programs and adapts them to meet given strategic and organizational needs. These encompass sessions above all on technical and business topics and seminars on improving project management, presentation, negotiation, conversational and social skills as well as introductory and advanced language courses.

Unconscious bias training was offered for the first time to support diversity efforts through personnel development measures. Despite the ongoing pandemic, the Group spent a total of € 600 thousand on training and continued professional development in 2021 (2020: € 750 thousand). The training courses were adapted to the various regulations and offered face-to-face, hybrid and virtual formats.

The tried-and-tested management programs, which were postponed due to the pandemic, were continued in 2021 in strict compliance with all protective and safety measures. The Rosenbauer Next Level Program, which prepares managers from all Group companies for their management tasks and is designed to not only help to build up a strategic management reserve but also establish management and leadership skills on a sustainable basis in an academically sound and practically relevant manner, was successfully completed. The program portfolio was expanded to include the "Operations Management Development Program, which will be run for the first time in 2022. The new program is based on the tried-and-tested management programs and is aimed at managers in the production and production-related areas of all German-speaking Group companies.

The second round of the Rosenbauer Sales & Purchase Academy – a measure intended to provide the best possible preparation for the entire sales and purchasing team – was successfully completed. With a focus on the actual everyday work of sales and purchasing, the main topics on the program included customer analysis, communication, presentation and negotiation techniques.

Rosenbauer attaches a great deal of importance to the training of apprentices. There were 153 apprentices in 2021. The main fields were metal technicians with a focus on mechanical engineering, mechatronics, and industrial salespersons.

Equal opportunities

Rosenbauer aspires to give every employee the same opportunities – regardless of descent, age, sex, culture or origin. To promote diversity, Rosenbauer founded the women@rosenbauer initiative in 2021. The Executive Board has allocated a budget for this women's network for the 2022 financial year so that it can become even more effective. The initial focus is on increasing the proportion of women in general, but especially in the Rosenbauer International management team. Corresponding measures are being developed by Human Resources together with the Women's Network and are being implemented step by step.

In this traditionally male-dominated occupational field, targeted measures are needed to promote women. women@rosenbauer

aims above all to create networking opportunities for female employees and to provide a space for mutual support and discussion. A number of working groups, for example, have drawn up requirements and measures aimed at improving the gender balance. These include more intensive support for women and men on parental leave; an internal website with information on the topic of equality; and the development of a no-go policy to improve cooperation among all employees. Another focus is on recruiting, with the aim of attracting more women to Rosenbauer in the future – especially in technical professions. A number of measures are being supported to inspire interest among school-age girls in technology.

This is also reflected in the preferred acceptance of female apprentices. For some years now, for example, young women have been offered apprenticeships in mechatronics and metal technology, and some are now already working as production employees. A total of 13.2% (2020: 12.7%) of Rosenbauer's employees were women at the end of 2021.

INFORMATION IN ACCORDANCE WITH SECTION 243A(1) AUSTRIAN COMMERCIAL CODE (UGB)

Rosenbauer's shares are listed in the Prime Market of the Vienna Stock Exchange. The share capital of Rosenbauer International AG amounts to € 13.6 million and is divided into 6,800,000 no-par-value shares, each embodying a pro rata amount of the share capital of € 2.0. 3,665,912 shares are registered shares and 3,134,088 are bearer shares. Each Rosenbauer share confers one vote.

Rosenbauer Beteiligungsverwaltung GmbH (BVG) holds 51% of shares in Rosenbauer International AG. BVG requires a majority of 75% of votes for a transfer of its shares to third parties. In line with the principle of equal treatment, there are no restrictions on voting rights or transfers of shares if the share of bearer shares in the share capital of the company is not less than 40% at any time. One shareholder of Rosenbauer Beteiligungsverwaltung GmbH indirectly holds an interest equivalent to 11.9% in Rosenbauer International AG. To the best of the company's knowledge, there are no shareholders with special rights of control. Employees who own shares exercise their voting rights directly.

The Articles of Association of Rosenbauer International AG set out the provisions for the appointment and dismissal of members of the Executive Board and the Supervisory Board. Only persons aged less than 65 at the time of their appointment can be appointed as members of the Executive Board. However, a person over the age of 65 at the time of such appointment can be appointed if there is a resolution to this effect by the Annual General Meeting with a simple majority of the votes cast. Only persons aged less than 70 at the time of their appointment can be appointed as members of the Supervisory Board. However, a person over the age of 70 at the time of such election can be appointed if there is a resolution to this effect by the Annual General Meeting with a simple majority of the votes cast.

No compensation agreements have been concluded between the company and its Executive Board and Supervisory Board members or its employees providing for the event of a public takeover bid.

The corporate governance report of the Rosenbauer Group has been published on the website www.rosenbauer.com/en/at/ rosenbauer-group in the chapter "Investor Relations" under "Corporate Governance".

Risks and opportunities

RISK MANAGEMENT

Rosenbauer is exposed to various risks in its business activities. The ongoing identification, appraisal and controlling of these risks form an integral part of the management, planning and controlling process. The risk management system builds on the organizational, reporting and leadership structures in place within the Group and supplements these with specific elements needed for proper risk assessment. The five core elements of Rosenbauer's risk management are as follows:

• The written risk strategy and the supplementary risk policy are summarized in a Group-wide risk management handbook
• A defined organizational structure with risk managers in the areas defined as risk units, subsidiaries and departments and a central Group Risk Manager
• Regular risk identification and assessment in all risk units
• The reporting structure of the Group
• The risk report at Group level and evaluations at the level of individual risk units

Systematic monitoring

Rosenbauer's risk management was revised from the ground up in 2021. In addition to a new system, the risk management processes were further developed and the roles and tasks were adapted in line with the new risk structure.

Risk management is mapped in the new system, enabling a clear presentation of the existing risks in the Rosenbauer Group at the level of each respective risk unit. Business risks are identified and recorded twice a year by means of a structured process in which the risk managers receive the intensive support and assistance of the Group Risk Manager.

Risks are assessed in terms of their probability of occurrence and potential impact on EBT. To assist in this, ten risk categories have been recorded in a catalog that classifies the identified risks that might potentially pose a threat to the company. The new system also allows opportunities in the risk management process to be taken into account. These are assessed in the same way as the risks in terms of probability of occurrence and impact on EBT.

On the basis of the risk analysis, the necessary control and management measures and risk management tools are derived as defined measures at operational level and assigned to the respective risks. The risk managers in the individual risk units are responsible for implementation. Furthermore, the results of the

risk inventory are reported to the Audit Committee once per year. The general functionality and effectiveness of the system are also assessed at this meeting.

In 2021, an audit was conducted by an external auditor to assess the design and implementation of the Rosenbauer Group's risk management in accordance with C Rule 83 of the Austrian Corporate Governance Code (ÖCGK).

INTERNAL CONTROL SYSTEM

The purpose of the internal control system (ICS) is to ensure the effectiveness and efficiency of business activities. It comprises systematically designed organizational measures and controls for adhering to internal and external policies and preventing damages that could, for instance, be incurred as a result of unregulated or unlawful actions. The controls are directly integrated into business processes and procedures. Process independent audits of the effectiveness of the controls are also performed by Internal Audit.

Targeted control environment

Company-wide regulations and policies form a key basis for the ICS. There are also process descriptions and work instructions established in the integrated management system. Internal audits monitor whether these policies are adhered to and the processes properly implemented. The results are documented, recommendations are derived from this and operational implementation is ensured.

Standard financial reporting

The control environment for the financial reporting process is characterized by clear structural and process organization. All functions are clearly assigned to particular persons (in Accounting or Controlling, for example). The employees involved in the financial reporting process fulfill all professional requirements. Insofar as the size of the respective company permits it, the principle of dual control is observed during the relevant financial reporting processes. The accounting systems used are largely standard software protected against unauthorized access. Key accounting principles for the financial reporting process are set out in a binding corporate manual.

Detailed financial reports

The completeness and accuracy of accounting data are checked regularly by means of both random inspections and plausibility

testing. There is also ongoing analysis by the Group's Controlling and Treasury departments. Detailed financial reports are prepared on a monthly and quarterly basis, with the up-to-date version retrievable on a daily basis, so as to promptly identify and correct deviations in the income and asset situations from projected figures.

Clear responsibilities

In addition to the process-oriented conditions, this distinctive regulatory and reporting system primarily provides for procedural measures that must be implemented by all units affected. Operational responsibility is borne by the respective process managers. Compliance with Rosenbauer regulations is monitored by Internal Audit as part of the periodic review of the relevant areas.

EXPLANATIONS OF INDIVIDUAL RISKS

General and industry risks

Global warming – risks and opportunities

In 2020, an analysis of climate-related risks and opportunities was carried out with the support of an external consultant. The recommendations of the Taskforce on Climate-related Financial Disclosures (TCFD) were applied. The first step here was to identify those climate-related risks and opportunities that could potentially be financially relevant for Rosenbauer. These climaterelated risks and opportunities identified were subsequently subjected to an assessment with regard to their financial impact on Rosenbauer and their probability of occurrence.

The physical climate risks for Rosenbauer production and assembly sites were identified as the most significant climaterelated challenge, while the generally increasing demand for fire protection products and the opportunities for new Rosenbauer products and services were identified as the most significant climate-related opportunity. Further information can be found in Rosenbauer's Sustainability Report 2021 from page 12.

Rosenbauer supports the Task Force on Climate-related Financial Disclosures (TCFD).

Market risks and opportunities

The international firefighting business is a typical "laggard" and responds to economic weaknesses only at a delay of 12 to 24 months. This is because the majority of customers are from the public sector, plan their procurements for the long term and want to set trends with their investments counter-cyclically.

As part of the assessment of market risks and opportunities, Rosenbauer refers to the assumptions of leading institutions regarding economic trends in the individual countries and

regions. There is also a higher level of investment in firefighting technology after natural disasters. While such procurement contracts cannot be planned, they always offer additional sales opportunities for the firefighting technology providers. Rosenbauer regularly analyzes the relevant industry risks and seizes on opportunities by responding rapidly to market changes.

Annual business planning is based on the Group's mid-term planning and comprises a catalog of objectives broken down by region and product that serves as a control instrument. This allows opportunities and any strategic risks to be identified at an early stage. Rosenbauer pursues a consistent strategy of internationalization to ensure its long-term growth. Having production sites on three continents and a global sales and service network means that sales fluctuations on individual markets are evened out.

Competitive and price pressure

Competitive and price pressure is at its highest in the firefighting industry for municipal vehicles. The increasing centralization of procurement presents opportunities through the promotion of fair competition and more transparent processes but it also entails the risk of losing major orders due to the bundling of procurement.

Rosenbauer is constantly analyzing and monitoring market and sales trends in the individual countries and areas and has clearly defined its strategy and growth targets for each distribution and product area.

Risks arising from legal and political conditions

Risks to the fire safety business arising from changes in overall political or legal conditions are very difficult to protect against. However, given that most customers operate in the public sector, it is rare that they cancel orders. Political crises and embargoes can temporarily limit access to certain markets.

Many countries have recently introduced stricter regulations on the use of hazardous substances. Non-compliance with relevant regulations can lead to substantial penalties and reputation risks. Hazardous substances are found in fluorochemical extinguishing agents. Special precautions to avoid hazardous substances heighten product requirements. Rosenbauer is countering the stricter regulations by developing special admixture systems and turrets that allow the use of fluorine-free foam concentrates and thus protect the environment and people.

In production, hazardous substances that can endanger health are managed with the ongoing monitoring of workplaces at risk and in compliance with local provisions.

Operation risks

Production risks and opportunities

Manufacturing activities necessitate a thorough examination of risks along the entire value chain. In view of today's ever-shorter innovation cycles, research and development work is becoming increasingly significant. The potential production risks are monitored on an ongoing basis using a series of key performance indicators (productivity, assembly and throughput times, production numbers, quality, costs, etc.). In addition to local performance indicators, the central controlling element in vehicle manufacturing operations is "concurrent costing", whereby variance analysis is used to monitor the production costs of every single order. To even out changes in capacity utilization at individual locations, Rosenbauer's manufacturing processes operate on a Group-wide basis and the company also outsources construction contracts to external partners. This limits the risk of the underutilization of production capacity in the event of a significant market decline.

Income risks that can occur on account of external disruptions to production are covered by suitable insurance against loss of production. Appropriate insurance cover is also in place for risks associated with fire, explosions and similar elemental risks.

Product risks and opportunities

Rosenbauer practices systematic quality management in accordance with ISO 9001. This is regularly audited and makes a significant contribution to ensuring uniformly high product quality worldwide and minimizing liability risks arising from product defects. The latest development methods, continuous control and the improvement of product quality, in addition to ongoing process optimization, also help reduce risks.

To reduce potential financial risks, the instrument of product liability insurance is used throughout the Group alongside the risk management system. In order to offer products with the best possible benefit to customers, Rosenbauer operates a systematic innovation management process and works closely with fire services on product development. Professional product management determines the direction in the development process. Market analyses and cost-effectiveness considerations are incorporated in a technology roadmap.

Demographic developments are giving rise to changes in fire departments' personnel, and thus also to new challenges for the manufacturers of firefighting technology. Women and older people will increasingly work for fire services in the future, so the technology and equipment must be designed to meet their operational needs. Rosenbauer focuses on these challenges by engaging in innovation, technology and knowledge management and in its product development, and also consults with fire departments as partners in its development process.

Procurement risks

Procurement risks include above all delivery failures, price increases, quality problems and other supply chain distortions. In the second pandemic year 2021, the resilience of supply chains was put to the test. The stated aim was to ensure a largely stable supply of materials to customers and production plants.

A crucial component for vehicle manufacturing in this respect is the on-time supply of chassis. This security of supply from the chassis manufacturers was not ensured in the usual way, for example due to a lack of availability of electronic components. In general, the past year was characterized by many disruptions in global supply chains. There were significantly increased delivery times in many material groups. Developments in the price of raw materials such as steel or aluminum were successively reflected in procurement material prices. The recent rise in energy costs also increased price pressure in the market.

To ensure that we were well prepared for the challenges in procurement, we intensified proactive contact with suppliers. Here, a more forward-looking planning strategy is being adopted with partners to take account of increased lead times and price developments. These risks are additionally countered by the standardization of parts and components, the diversification of the supplier structure and a sustainable procurement strategy. To ensure that production supplies are delivered on schedule and to the required quality, the most important suppliers are subject to ongoing monitoring, while supply chain planning and management are undergoing continuous further development in cooperation with the suppliers. This helps to reduce the risk of production disruptions and breakdowns.

Rosenbauer primarily requires aluminum, steel, and plastic parts. A forward-looking purchasing policy ensures the lowest possible purchase prices, even in a difficult environment. Only limited energy is needed in production as the work involved is mostly assembly.

IT risks

The more networked a company is, the greater the cyber risk. The term "cyber risk" covers many individual risks that could result from a potential cyber attack. Essentially, these are violations of the confidentiality of data (spying, data loss), violations of the integrity of the IT system or data (manipulation by malicious software), violations of the availability of the IT system or data (interruptions in the internal area, failure of communication paths), etc.

To ensure that cyber risks do not arise in the first place, Rosenbauer attaches great importance to a secure IT infrastructure. These risks are countered by means of regular investment in hardware and software, the use of state-of-the-art IT security

systems, up-to-date data protection methods and structured access controls. The robustness of the security systems is also tested by simulated external attacks. The technical measures are supported by regular, targeted IT security and data protection awareness training for employees.

Environmental risks

The Rosenbauer Group's production activities essentially comprise assembly work, and therefore entail hardly any environmental risk. Furthermore, clear environmental standards and instructions apply to processes. These are documented in an environmental management system in accordance with ISO 14001 and regularly reviewed and amended by internal and external audits. Energy management at the Austrian and German production sites is certified to ISO 50001. This serves as an instrument for monitoring energy costs and consumption, from which measures to reduce the consumption of resources can be derived.

Personnel risks and opportunities

Rosenbauer faces veritable competition for the best minds. The company's success is crucially dependent on how well it can recruit, integrate and retain experts.

A performance-based remuneration system with participation in the company's success and sophisticated talent management are two of the instruments that Rosenbauer uses. Partnerships with educational institutions and comprehensive trainee management support us with staff recruitment. A wide range of training and development opportunities helps to retain employees in the company. Moreover, Rosenbauer is working intensively on succession planning for key management positions.

Demographic change is seen as an opportunity by the company to confront the changes entailed by an aging workforce and to ensure future generations of experts and executives with corresponding diversity in terms of language, gender and internationality. In order to interest more women in technological professions, Rosenbauer is increasingly training female apprentices and specifically involving them in production activities.

Legal risks

Rosenbauer International AG and its subsidiaries face legal proceedings, lawsuits and official investigations in the context of their business activities. These can affect –among other things – product safety, patents and other intellectual property rights, dealer, supplier and other contractual relationships and also lead to proceedings under competition law.

Irregularities were detected in the process of preparing the 2017 annual financial statements of Rosenbauer Deutschland GmbH. The investigations initiated in this context were concluded by the end of 2018. Proceedings for asserting claims have been initiated at the civil courts and are still unresolved.

Rosenbauer International AG was informed at the end of January 2022 that a tax liability was imminent in connection with a tax investigation against a former managing director of subsidiaries. The tax liability relates to a period in which the subsidiaries concerned were not yet owned by Rosenbauer International AG. The annual financial statements include a tax claim against the former managing director and beneficial owner of a subsidiary amounting to € 3.4 million, which Rosenbauer International AG, as the legal successor, must initially bear. Legal action has been initiated against the former managing director and the former owner of the subsidiaries.

Compliance risks are being addressed as part of Rosenbauer Compliance Management. Regular training aims to prevent violations in relation to compliance. An anonymous whistleblower platform for reporting suspected cases of antitrust law, corruption, economic crime, discrimination or sexual harassment has been available to all employees, suppliers and business partners since mid-December 2021. With the introduction of this whistleblower system, Rosenbauer is complying with the EU Directive on the Protection of Persons Who Report Breaches of Union Law.

Financial risks

A solid financial basis is of great importance to an international company. Thanks to the excellent equity resources and Rosenbauer Group's excellent credit standing, the necessary funding for working capital and capital expenditure has been secured without restrictions and at very good conditions.

Interest rate and currency risks

The international nature of the Group's activities gives rise to interest and currency-related risks that are hedged by the use of suitable instruments. A financial and treasury policy that applies throughout the Group stipulates which instruments are permitted. Operating risks are hedged with derivative financial instruments such as foreign exchange forwards and interest rate swaps. These transactions are conducted solely to hedge risks and not for the purposes of trading or speculation. Please see the explanatory notes to the consolidated financial statements.

Credit risks

Credit risks, which can arise from payment defaults, are considered unlikely as most customers operate in the public sector. For deliveries to countries with increased political or economic risk, public and private export insurance is taken out for the purpose of protection.

Assessment of overall risk

Rosenbauer feels that it is well positioned to meet the demands made on it by its customers, the market, the economic environment and international competition. Based on the analysis of currently discernible risks, there are no indications of any risks that – either singly or in conjunction with other risks – might jeopardize the Group's continued existence.

This applies both to the results of past business activity and to activities that are planned or have already been initiated.

Forecast report

OVERALL ECONOMIC DEVELOPMENT1, 2

The global economy started 2022 weaker than expected. Faced with the rapid spread of the new COVID-19 Omicron variant, many countries have reintroduced mobility restrictions. Rising energy prices, along with supply chain disruptions, have led to higher and broad-based inflation, particularly in the US and in many emerging markets and developing countries. Continued spending cuts in China's real estate sector and slower private consumption recovery are further limiting growth prospects.

In the current year, the IMF therefore calculates that global economic growth will slow from the recent 5.9% to 4.4%. This figure is half a percentage point below the forecast made last October and reflects the downgrading of the largest economies. For example, the forecast for the US was revised down by 1.2 percentage points due to the earlier termination of accommodative monetary policy by the Federal Reserve and ongoing supply chain issues, and the outlook for China was revised down by 0.8 percentage points due to the disruptions caused by the zero-tolerance policy in pandemic response and protracted financial pressures among real estate developers. At the same time, higher inflation will persist for longer due to supply chain disruptions and high energy prices.

The risks in this scenario are obvious: the emergence of additional COVID-19 variants could prolong the pandemic and cause renewed economic disruptions. In addition, supply chain problems, volatile energy prices, and local wage pressures imply uncertainty for inflation and policy decisions. As developed economies raise key interest rates, new threats to financial stability and capital flows to emerging markets and developing countries, their currencies, and financial positions could emerge. Additional global risks could arise from ongoing geopolitical tensions and global warming.

Russia's invasion of Ukraine led to economic uncertainties and volatile financial markets worldwide. While stock markets faced declines, prices for gold, oil, and commodities such as aluminum skyrocketed. The long-term impact on economies and their growth cannot be estimated at the time this report was prepared.

PROSPECTS ON SALES MARKETS

The firefighting industry follows economic developments with a gap of one to two years. Demand is largely defined by countries with steady procurement. However, elevated safety awareness following natural disasters also leads to increased investment in firefighting technology and equipment.

In 2022, growth should again be possible for the global firefighting industry. Particularly in the developed economies, the willingness to invest appears to be unbroken despite the COVID-19 pandemic, and the corresponding budget resources for preventive firefighting and disaster protection technology will continue to be made available. The decisive factor will be how long the supply chain disruptions continue to impact production. The same applies to the pandemic-related mobility restrictions.

The North American market has started the new year with very dynamic demand, mainly attributable to extensive funding programs for emergency response and electric mobility, which also benefit fire departments. The ongoing supply chain disruptions and feared longer waiting times are also causing many emergency services to bring forward their procurements. At the same time, the good economic situation has tightened the supply of skilled labor.

Europe's firefighting market should continue its solid development in 2022. At the start of the third pandemic year, the willingness of the public sector to invest appears high and preventive firefighting and disaster protection technology can draw on substantial financial resources. Private financial contributions to fire service organizations continue to flow slowly due to pandemic constraints. Demand is being driven primarily by central, eastern and northern European countries.

The weak state of the sector on the Asian firefighting markets will improve only slightly in the current year. Market volumes will continue to fall well short of the usual levels. There are many reasons for this. In addition to the negative impact of the COVID-19 pandemic, individual countries in the region are experiencing prolonged economic problems and, in some cases, international sanctions. The trade dispute between China and the US is also having a negative impact. Low vaccination rates continue to encourage new outbreaks of the coronavirus and lead to local lockdowns.

¹ IMF, World Economic Outlook, Update, January 25, 2022.

² World Bank, Global Economic Prospects, January 11, 2022.

The countries of the Middle East have started the new year with comparatively lower demand. Demand from airports in particular is currently low, but the public sector is increasingly reactivating planned tenders. At the time of reporting, the global economy was facing extreme fluctuations in the price of oil. Depending on further developments over the course of the year, there could be new potential for sales of Rosenbauer products.

North America

The NOMA area started the current financial year with an extremely robust order backlog. In terms of order intake, recent increases in procurements by local authorities and government agencies have more than offset the decline in airport business. In addition to the fully battery-electric "Revolutionary Technology" model series, Rosenbauer's innovative battery-powered extinguishing system has also met with growing interest among customers.

In the coming months, the main focus will be on limiting the negative impact of supply chain disruptions and keeping selling prices and manufacturing costs in balance. With this in mind, Rosenbauer Minnesota has taken back in-house production of tanks and crew cabs for the US PANTHER, which were previously supplied. The various Group companies passed on the increased cost of materials to the market in the form of three price increases.

The intensified sales activities in the area of municipalities continue to show encouraging results. Not only were several dealerships in larger cities won as partners for the Rosenbauer network, including a fourth dealer on the East Coast, but the first major fleet order from the Nashville Fire Department was also received. Servicing municipal fire departments with large vehicle fleets that are supported throughout the entire product life cycle has attractive growth potential.

Rosenbauer International is looking to increase its share in Rosenbauer America LLC and has begun discussions with a co-owner to do so. Rosenbauer sees this as a strategic opportunity for greater integration into the Group structures and for expanding its involvement in the world's largest firefighting market.

Europe

The European project landscape is at a very good level at the start of 2022. Additional impetus should come from the "Next-GenerationEU" European reconstruction plan, which is expected to provide more than € 800 billion in loans and grants over the next few years. In this context, electric mobility and the switch to vehicles with alternative drives in particular will be the driving forces behind future market development.

As in the past, demand in the D-A-CH region in particular is very stable. This is reflected in many major projects, but also in numerous individual orders placed by local authorities. In Southeastern Europe, where the Rosenbauer Group has recently opened up a number of new sales markets, major procurements are repeatedly put out to tender. The requirements here vary from country to country. The municipal markets in the Balkans are supported successfully by the Ljubljana Group location in Slovenia.

In 2022, Rosenbauer primarily wants to further expand the service business in Europe, which is central to customer relations and delivers reliable profit contributions. For example, in the reporting year Rosenbauer Austria relocated from Leonding to Asten, also in Upper Austria, and opened a new, easily accessible contact point for customers. The new service center with 1,600 m² of usable floor space has a total of 12 parking spaces for vehicles. Rosenbauer Germany has virtually doubled workshop capacity at its location in Viersen, North Rhine-Westphalia, by adding a hall with eight vehicle parking spaces.

International export business

Rosenbauer's international export business is facing numerous challenges at the start of 2022. On the one hand, many countries have cut their spending on preventive firefighting and disaster protection technology due to the COVID-19 pandemic, and on the other, at times strict travel and quarantine regulations are making project handling more difficult. Some markets are also facing economic problems, as well as political conflicts.

In particular, demand for ARFF vehicles has massively in the face of falling air traffic and postponed infrastructure investments in large parts of Asia. Under these circumstances, many airport operators are keeping their vehicles for longer and are investing in service instead. The fire protection categories of the International Civil Aviation Organization (ICAO) for airports are having a stabilizing effect on demand. In 2021, only Japan pulled out of the region and made further new acquisitions.

By contrast, the firefighting business with Singapore and its neighboring countries is barely showing any effects from the COVID-19 pandemic. In these markets, the aviation sector also offers a positive outlook. Consistently good results are also being provided by Australia and New Zealand, where Rosenbauer has recently achieved some great successes with the PANTHER 6x6 S.

For the municipal vehicle markets in Central Asia and the ASEAN states, Rosenbauer successfully introduced the "Efficient Technology" (ET) model series a few years ago and, through localization, created a highly sustainable, economically priced product.

The introduction of a licensing requirement for the import of firefighting vehicles has made it more difficult for international manufacturers to enter the Chinese market. For this reason, Rosenbauer opened its own sales and service location in Yunnan in October of the previous year. Direct sales of spare parts, components, and equipment are now possible through this site.

Demand in the countries of the Middle East weakened in the course of the reporting year. Against this backdrop, Rosenbauer is pressing ahead with the localization of its manufacturing operations and the expansion of its service network. Together with the extensive vehicle base already in the region, the Group is well positioned when demand picks up again.

Although the markets in Africa and South America have suffered significantly from the effects of the COVID-19 pandemic, some countries such as the Maghreb countries are entering 2022 with stronger tendering activity. The NISA area will be able to make up for the missing contract awards thanks to the boom in Western and Northern European markets.

Rosenbauer closely monitors the development of the different firefighting markets in order to exploit sales opportunities early on. Sales activities are then stepped up in the countries or regions where greater procurement volumes have been identified. At the end of the reporting period, the Group had a very solid order backlog of € 1,145.2 million (2020: € 1,072.1 million). This figure is higher than a year's revenues, although the equipment products and service revenues included here have only partly been taken into account owing to the shorter delivery times and larger vehicle orders with delivery times of more than two to three years.

INNOVATIONS AND NEW PRODUCTS

The goal of Rosenbauer's research and development activities is to strengthen and expand its international competitive position. The Group is intensively analyzing global megatrends – such as global warming, demographic change, urbanization and digitalization – and their impact on fire service organization and technology.

Just over a year ago, Rosenbauer unveiled "Revolutionary Technology" (RT), the first fully battery-electric firefighting vehicle. The RT is not simply an addition to Rosenbauer's existing product range, but a completely new vehicle concept that sets new standards in terms of driving dynamics, ergonomics, operation, and connectivity.

In 2021, Rosenbauer commissioned its own assembly line for the innovative model series at Plant I in Leonding. At the same time, Rosenbauer America has begun adapting the "Revolutionary Technology" to US firefighting and road safety standards. Final road approval of the American RTX is targeted for the current year.

Rosenbauer is one of the most innovative companies in the firefighting industry. It creates a competitive edge with constantly new and attractive products and taps into new growth opportunities.

INVESTMENTS AND PRODUCTION CAPACITY

Investment management at Rosenbauer systematically records all needs in the Group and ranks them according to priority. Thus the investments made by the Rosenbauer Group in 2022 will be clearly lower than those of the previous year and will focus in particular on projects with a high cost-efficiency potential as well as the completion of ongoing projects. For example, the Luckenwalde location in Germany is to be expanded by a logistics hall in an initial modernization phase, and investments are to be made in further tools for the production of the RT and other electric vehicles at the headquarters in Leonding.

Another key area of investment is the Group-wide introduction of a standardized ERP (Enterprise Resource Planning) system. In February 2022, the first successful roll-out of SAP S/4HANA was achieved at Rosenbauer Switzerland. Next, Rosenbauer Slovenia, as the first production site in the Group, will switch to SAP S/4HANA in 2023.

FINANCIAL AND LIQUIDITY SITUATION

Rosenbauer has high financing requirements during a year for reasons specific to the industry. One reason for this is the long throughput times, particularly in vehicle production, and the relatively low advances paid by customers. The Group counteracts this with targeted measures intended to optimize order handling.

The Rosenbauer Group's financing is ensured by financing facilities provided by various banks with different maturities. The Group's financing strategy is based on conservative principles and makes secure liquidity and solid equity capitalization high priorities.

OVERALL ASSESSMENT OF FUTURE DEVELOPMENT

Rosenbauer has been highly focused on implementing its strategy in recent years, thus laying the foundations for further growth. As a leading manufacturer in the international firefighting industry, the company is constantly working to be more efficient and more agile.

In the reporting year, Rosenbauer carried out a comprehensive project to optimize its cash conversion cycle (CCC). In this process, Rosenbauer International, Rosenbauer Karlsruhe, and Rosenbauer Germany sought new ways to improve the efficiency of their processes and reduce the cash conversion cycle from the purchase of materials to the payment of customer invoices in 25 sub-projects. From the middle of the year, the general conditions for this deteriorated noticeably as a result of the supply chain disruptions and supply bottlenecks caused by the pandemic. Despite this, we succeeded in shortening the cash conversion cycle from originally 174 to 129 days and reducing trade working capital by € 122 million. The biggest improvements were achieved in inventory management at the Leonding location.

Under the leadership of Group Finance & Controlling, the CCC issue was transferred to the regular organization and a separate reporting system was set up.

This provides Rosenbauer with a solid basis for successfully overcoming 2022, despite all the existing economic uncertainties.

Revenues and result of operations

Even though uncertainty remains high as a result of the COVID-19, the global firefighting industry is expected to grow again in 2022 based on global economic forecasts and our own industry observations.

With its wide diversification in terms of products and markets, industrial production methods, technological leadership and financial strength, Rosenbauer is well positioned to balance out risks and seize opportunities for the long-term growth of the Group. Measures to increase efficiency are to be stepped up once again in the current year.

Based on a solid order book, the Executive Board expects revenues to exceed € 1 billion in 2022. The EBIT margin is expected to be level with the prior year despite continuing supply chain disruptions and uncertainty caused by the COVID-19 pandemic.

CONSOLIDATED FINANCIAL STATEMENTS

89%

EXPORT RATIO

Firefighting

The manual RM24 achieves a range of 80 m as a water turret and more than 50 m when used with foam. This enables efficient firefighting from a safe distance.

• 68 Consolidated statement of financial position
• 70 Consolidated income statement
• 71 Presentation of the consolidated statement of comprehensive income
• 72 Changes in consolidated equity
• 74 Consolidated statement of cash flows
• 76 Movement in the consolidated assets
• 80 Schedule of provisions
• 82 Segment reporting
• 84 Explanatory notes

CONSOLIDATED

FINANCIAL

STATEMENTS

Consolidated statement of financial position

	ASSETS (in € thousand)	Explanatory notes	01.01.2020 adjusted	31.12.2020 adjusted	Dec. 31, 2021
A.	Non-current assets
I.	Property, plant and equipment	(D1)	147,564	157,020	162,073
II.	Intangible assets	(D1)	32,190	38,339	46,409
	III. Right-of-use asset	(D1)	37,745	32,177	35,207
	IV. Securities	(D2)	818	760	655
V.	Investments in companies accounted for using the equity method	(D3, D4)	6,433	3,622	3,090
	VI. Deferred tax assets	(D5)	7,425	5,561	11,354
			232,176	237,480	258,789

B. Current assets

I.	Inventories	(D6)	475,532	417,302	407,754
II.	Receivables and other assets	(D7)	220,589	236,685	159,040
III.	Income-tax receivables		0	676	529
IV.	Cash and cash equivalents	(D8)	50,849	19,015	65,450
			746,969	673,678	632,773

Total ASSETS	979,146	911,157	891,562

EQUITY AND LIABILITIES (in € thousand)	Explanatory notes	01.01.2020 adjusted	31.12.2020 adjusted	Dec. 31, 2021
				13,600
				23,703
				-271
				180,784
				217,816
				7,297
Total equity		195,193	227,166	225,113
				161,082
Non-current lease liabilities		33,642	28,024	30,483
Other non-current liabilities	(D12)	2,886	2,036	1,327
Non-current provisions	(D13)	37,342	34,093	32,365
Deferred tax liabilities	(D5)	1,550	2,195	3,134
		291,490	286,067	228,391
Puttable non-controlling interests	(D14)	53,290	55,370	67,574
Current interest-bearing liabilities	(D15)	140,060	56,402	72,505
Current lease liabilities		4,345	4,975	5,632
Contract liabilities	(D16)	131,864	135,501	130,598
Trade payables	(D17)	68,852	49,485	63,894
Other current liabilities	(D18)	77,825	71,972	71,007
Provisions for taxes	(D19)	631	7,874	9,438
VIII. Other provisions	(D20)	15,594	16,345	17,410
		492,463	397,924	438,058
Total EQUITY AND LIABILITIES		979,146	911,157	891,562
	Equity Share capital Capital reserves Other reserves Accumulated results the parent company Non-controlling interests Non-current liabilities Non-current interest-bearing liabilities Current liabilities	(D9) (D9) (D9) (D9) Equity attributable to shareholders of (D10) (D11)	13,600 23,703 -12,128 164,422 189,597 5,596 216,071	13,600 23,703 -1,456 184,152 219,999 7,167 219,719

Consolidated income statement

in € thousand	Explanatory notes	2020 adjusted	2021
1. Revenues	(D21)	1,044,173	975,110
2. Cost of Sales	(D22)	-863,967	-818,646
3. Gross Profit		180,206	156,464
4. Other operating income	(D26)	6,502	9,016
5. R&D and Product management	(D23)	-15,754	-15,381
6. Selling expenses	(D24)	-61,135	-62,685
7. Administrative expenses	(D25)	-50,408	-51,051
8. Other expenses	(D27)	-1,708	-1,337
9. Earnings before interest and taxes (EBIT)		57,703	35,026
10. Interest income	(D30)	738	616
11. Interest expense	(D31)	-6,572	-6,156
12. Share in results of companies accounted for using the equity method	(D3, D4)	-586	-615
13. Financial result		-6,420	-6,155
14. Earnings before income tax (EBT)		51,283	28,871
15. Income tax	(D32)	-10,306	-5,655
16. Net income of the period		40,977	23,216
thereof non-controlling interests		12,170	7,783
thereof shareholders of parent company		28,807	15,433

Average number of shares outstanding	(E5)	6,800,000	6,800,000
Basic earnings per share	(E5)	4.24	2.27
Diluted earnings per share	(E5)	4.24	2.27

Presentation of the consolidated statement of comprehensive income

in € thousand	Explanatory notes	2020 adjusted	2021
Net profit for the period		40,977	23,216
Restatements as required by IAS 19	(D13)	3,930	938
thereof deferred taxes		-1,007	-201
Total changes in value recognized in equity that cannot be subsequently reclassified into profit or loss		2,923	737
Gains/losses from foreign currency translation		-4,377	6,871
Gains/losses from foreign currency translation of companies accounted for using the equity method	(D3)	-1,052	121
Gains/losses from cash flow hedge	(D37c)
Change in unrealized gains/losses		3,940	-1,651
thereof deferred tax		-1,019	437
Realized gains/losses		5,385	-3,732
thereof deferred tax		-1,346	933
Total changes in value recognized in equity subsequently reclassified into profit or loss when certain conditions are met		1,532	2,980
Other comprehensive income		4,455	3,716
Total comprehensive income after income taxes		45,432	26,932
thereof:
Non-controlling interests		6,573	10,314
Shareholders of parent company		38,859	16,619

Changes in consolidated equity

				Other reserves
Explanatory notes	Share capital	Capital reserve	Currency translation	Restatement as required by IAS 19
	13,600	23,703	2,175	-6,376
	0	0	4,461	737
	0	0	0	0
	0	0	4,461	737
(D14)	0	0	0	0
(D9) (D10)	0	0	0	0
	13,600	23,703	6,635	-5,639
	13,600	23,703	1,386	-9,299
	0	0	0	0
	13,600	23,703	1,386	-9,299
	0	0	789	2,923
	0	0	0	0
	0	0	789	2,923
(D9) (D10)	0	0	0	0
	13,600	23,703	2,175	-6,376
	Total comprehensive income Total comprehensive income (D14)	0	0	0	Attributable to shareholders in the parent company 0

1) Open Values have been adjusted according to IAS 8. See Note A4.

38

	Non-controlling		Accumulated
Group equity	interests	Subtotal	results	Hedging reserve
227,167	7,167	220,000	184,152	2,745
3,716	2,531	1,186	1	-4,013
23,216	7,783	15,433	15,433	0
26,932	10,314	16,619	15,434	-4,013
-12,145	-3,543	-8,602	-8,602	0
-16,841	-6,641	-10,200	-10,200	0
225,114	7,297	217,816	180,784	-1,268
253,429	32,509	220,920	195,745	-4,215
-58,236	-26,913	-31,323	-31,323	0
195,193	5,596	189,597	164,422	-4,215
4,455	-5,597	10,052	-620	6,960
40,977	12,170	28,807	28,807	0
45,432	6,573	38,859	28,187	6,960
-2,080	934	-3,014	-3,014	0
-11,376	-5,936	-5,440	-5,440	0
227,168	7,167	220,002	184,154	2,745

Attributable to shareholders in the parent company

1) Open Values have been adjusted according to IAS 8. See Note A4.

Other reserves

Restatement as required

Consolidated statement of cash flows

	in € thousand	Explanatory notes	2020 adjusted	2021
	Profit before income tax		51,281	28,871
+	Depreciation	(D29)	26,972	28,802
±	Gains/losses of companies accounted for using the equity method	(D3, D4)	586	614
	-/+ Gain/losses from the retirement of property, plant and equipment, intangible assets and securities	(D26)	543	-357
+	Interest expenses	(D31)	6,572	6,155
-	Interest and securities income	(D30)	-738	-617
±	Unrealized gains/losses from currency translation		-337	3,835
±	Change in inventories	(D6)	45,528	22,176
±	Change in receivables and other assets and construction contracts	(D7)	-2,246	62,616
±	Change in other receivables		-11,375	15,085
±	Change in trade payables/advance payments received and contract liabilities		-9,903	-3,057
±	Change in other liabilities		-5,800	-4,924
±	Change in provisions (excluding income tax deferrals)		883	-575
	Cash earnings		101,966	158,624
-	Interest paid		-6,357	-5,950
+	Interest received and income of securities		738	613
+	Dividends received from companies accounted for using the equity method	(D3, D4)	1,174	38
-	Income tax paid		-1,133	-7,481
	Net cash flow from operating activities		96,388	145,844

	in € thousand	Explanatory notes	2020 adjusted	2021
	Net cash flow from operating activities		96,388	145,844
-	Payments from the acquisition of a subsidiary less acquired cash and cash equivalents		-42	0
-	Payments from the purchase of property, plant and equipment, intangible assets and securities	(D33)	-35,145	-30,381
+	Proceeds from the sale of property, plant and equipment, intangible assets and securities		1,998	2,506
-	Income from capitalized development costs	(D1)	-6,551	-7,704
	Net cash flow from investing activities		-39,740	-35,579
-	Payments from the acquisition of non-controlling interests	(D12)	-280	-781
-	Dividends paid	(D9)	-5,440	-10,200
-	Dividends paid to non-controlling interests	(D10)	-5,936	-6,641
+	Proceeds from interest-bearing liabilities		176,593	48,521
-	Repayment of interest-bearing liabilities		-255,998	-92,197
-	Repayment of leasing liabilities		-6,108	-6,012
	Net cash flow from financing liabilities		-97,169	-67,310
	Net change in cash and cash equivalents		-40,521	42,955
+	Cash and cash equivalents at the beginning of the period	(D8)	50,849	19,015
±	Adjustment from currency translation		8,687	3,480
	Cash and cash equivalents at the end of the period	(D8)	19,015	65,450

Movement in the consolidated assets

				Cost of acquisition or production
in € thousand	As of Jan 1, 2021	Currency differences	Change in basis of consolidation	Additions	Disposals	Adjustments	As of Dec 31, 2021
I. Property, plant and equipment
1. Land and buildings
a) Land value	14,855	103	0	0	0	0	14,958
b) Office and plant buildings	117,979	2,226	0	1,759	135	1,520	123,349
c) Outside facilities	9,630	0	0	459	4	-46	10,039
d) Investments in non-owned buildings	10,900	239	0	1,186	148	169	12,346
2. Undeveloped land 3. Technical equipment and machinery	10,482 60,874	90 1,073	0 0	0 11,822	0 5,409	0 113	10,572 68,473
4. Other equipment, furniture and fixture	83,645	640	0	7,702	2,682	343	89,648
5. Advance payments received and construction in progress	1,660	0	0	1,433	119	-2,290	684
	310,025	4,371	0	24,361	8,497	-191	330,069
II. Intangible assets
1. Rights/licenses	11,331	3	0	3,807	1,285	205	14,061
2. Goodwill	6,596	22	0	0	0	0	6,618
3. Customer base	7,313	56	0	0	0	0	7,369
4. Technology	3,131	0	0	0	0	0	3,131
5. Development costs	32,223	0	0	7,704	0	0	39,927
6. Other intangible assets	15	0	0	17	0	-15	17
	60,609	81	0	11,528	1,285	190	71,123
III.Right-of-Use Assets
1. Land and buildings	36,185	900	0	6,541	0	0	43,626
2. Undeveloped land	646	54	0	0	0	0	700
3. Technical equipment and machinery	3,721	14	0	1,731	9	0	5,457
4. Other equipment, furniture and fixture	151	4	0	41	0	0	196
	40,703	972	0	8,313	9	0	49,979
	411,337	5,424	0	44,202	9,791	-1	451,171

Cost of acquisition or production Change in			Accumulated depreciation					Net book value
As of Dec 31, As of Jan 1, Disposals Adjustments 2021	2021	Currency differences	Additions	Disposals	Adjustments	As of Dec 31, 2021	As of Dec 31, 2021	As of Dec 31, 2020
0 14,958	38	0	2	0	0	40	14,918	14,817
123,349	48,780	1,075	3,992	115	0	53,732	69,617	69,199
10,039	5,448	0	482	2	-3	5,925	4,113	4,181
12,346	5,562	133	993	145	0	6,543	5,803	5,338
169 0 10,572	0	0	0	0	0	0	10,572	10,482
113 68,473	34,140	778	5,972	3,666	-42	37,182	31,290	26,733
343 89,648	59,035	432	7,740	2,532	-103	64,572	25,076	24,610
-2,290 684	0	0	0	0	0	0	684
330,069	153,005	2,418	19,181	6,460	-148	167,996	162,073	1,660 157,020
14,061	8,010	1	1,256	1,283	152	8,136	5,925	3,321
6,618 7,369	1,286 4,974	0 34	0 461	0 0	0 0	1,286 5,469	5,333 1,900	5,311 2,339
3,131	1,389	0	174	0	0	1,563	1,568	1,743
39,927	6,606	0	1,654	0	0	8,260	31,666	25,616
17	4	0	0	0	-4	0	17
71,123	22,269	35	3,545	1,283	148	24,714	46,409	38,340
0 43,626	6,588	164	4,713	0	0	11,465	32,161	29,597
700	86	7	43	0	0	136	564
5,457	1,796	6	1,279	9	0	3,072	2,386	1,926
196	56	2	41	0	0	99	97
0 0 49,979	8,526	179	6,076	9	0	14,772	35,207	32,177
451,171	183,800	2,632	28,802	7,752	0	207,482	243,689	227,537

				Cost of acquisition or production
	As of Jan 1,	Currency	Change in basis of				As of Dec 31,
in € thousand	2020	differences	consolidation	Additions	Disposals	Adjustments	2020
I. Property, plant and equipment
1. Land and buildings
a) Land value	17,313	-263	0	0	0	-2,195	14,855
b) Office and plant buildings	116,034	-1,952	0	3,958	284	225	117,979
c) Outside facilities	8,151	0	0	1,340	24	163	9,630
d) Investments in non-owned buildings	10,415	-239	0	1,072	529	182	10,900
2. Undeveloped land	8,287	0	0	0	0	2,195	10,482
3. Technical equipment and machinery	50,959	-1,179	81	13,043	1,728	-304	60,874
4. Other equipment, furniture and fixture	74,257	-606	17	11,861	2,597	714	83,645
5. Advance payments received and construction in progress	3,473 288,889	-31 -4,269	0 98	952 32,225	1,012 6,174	-1,724 -744	1,660 310,025
II. Intangible assets
1. Rights/licenses	9,568	-8	0	2,744	308	-665	11,331
2. Goodwill	6,615	-18	0	0	0	0	6,596
3. Customer base	6,881	-46	478	0	0	0	7,313
4. Technology	3,131	0	0	0	0	0	3,131
5. Development costs	24,066	0	0	6,551	0	1,606	32,223
6. Other intangible assets	0	0	8	203	0	-197	15
	50,261	-72	486	9,498	308	744	60,609
III.Right-of-Use Assets
1. Land and buildings	38,451	-564	0	0	1,702	0	36,185
2. Undeveloped land	708	-62	0	0	0	0	646
3. Technical equipment and machinery	2,926	-9	0	926	122	0	3,721
4. Other equipment, furniture and fixture	149	-5	0	9	2	0	151
	42,234	-639	0	935	1,826	0	40,703
	381,383	-4,980	584	42,658	8,308	-0	411,337

Accumulated depreciation				Net book value
As of Jan 1, 2020	Currency differences	Additions	Disposals	Adjustments	As of Dec 31, 2020	As of Dec 31, 2020	As of Dec 31, 2019
33	4	2	0		0 38	14,817	17,280
46,001	-879	3,914	255		0 48,780	69,199	70,033
5,013	-0	436	0		0 5,448	4,181	3,139
5,084	-141	844	231		6 5,562	5,338	5,330
0	0	0	0		0 0	10,482	8,287
32,060	-752	4,572	1,316	-424	34,140	26,733	18,900
53,114	1,099	6,834	2,431	418	59,035	24,610	21,143
21	0	0	21		0 0	1,660	3,453
141,325	-669	16,601	4,252		-0 153,005	157,020	147,564
6,752	-9	1,648	106	-275	8,010	3,321	2,816
1,286	0	0	0		0 1,286	5,311	5,329
4,532	-14	456	0		0 4,974	2,339	2,349
1,214	0	174	0		0 1,389	1,743	1,917
4,286	-0	2,045	0	275	6,606	25,616	19,780
0	0	4	0		0 4	11
18,070	-23	4,327	106		-0 22,269	38,340	32,190
3,570	3	4,906	1,891		0 6,588	29,598	34,881
48	-8	46	0		0 86	560
841	14	1,059	119		0 1,796	1,925	2,085
30	-3	31	2		0 56	95	119
4,489	7	6,043	2,012		0 8,526	32,177	37,745
163,884	-685	26,971	6,370		-0 183,800	227,537	217,499

Schedule of provisions

in € thousand	As of Jan 1, 2021	Currency differences		Allocation Consumption	Reversal	Compounding	As of Dec 31, 2021
Current
Warranties	11,047	372	6,509	-3,482	-1,629	0	12,817
Onerous contracts	135	7	742	-52	-90	0	742
Others	5,163	43	2,885	-3,503	-737	0	3,851
Total current provisions	16,345	422	10,136	-7,037	-2,456	0	17,410
Non-current
Provisions for long service bonuses	7,733	0	10	-621	-4	78	7,196
Total non-current provisions	7,733	0	10	-621	-4	78	7,196
Total	24,078	422	10,146	-7,658	-2,460	78	24,606

The schedule of provisions for severance payments and pensions is contained under D13. "Non-current provisions" in the explanatory notes.

in € thousand	As of Jan 1, 2020	Currency differences		Allocation Consumption	Reversal	Compounding	As of Dec 31, 2020
Current
Warranties	10,871	-295	9,030	-8,230	-329	0	11,047
Onerous contracts	74	-2	135	-11	-61	0	135
Others	4,650	-36	2,716	-1,876	-290	0	5,163
Total current provisions	15,594	-333	11,881	-10,117	-680	0	16,345
Non-current
Provisions for long service bonuses	7,476	0	187	-6	-16	92	7,733
Total non-current provisions	7,476	0	187	-6	-16	92	7,733
Total	23,070	-333	12,068	-10,123	-696	92	24,078

The schedule of provisions for severance payments and pensions is contained under D13. "Non-current provisions" in the explanatory notes.

Segment reporting

BUSINESS SEGMENTS

2021 (in € thousand)	CEEU area	NISA area	MENA area	APAC area	NOMA area	PFP1	Group
External revenues	346,838	93,210	123,713	117,143	264,451	29,755	975,110
EBIT before share of results of companies accounted for using the equity method	16,673	1,165	5,161	2,520	9,510	-3	35,026
Profit before income
tax (EBT)	11,628	969	5,138	2,032	9,129	-25	28,871
Depreciation	-21,871	-705	-1,096	-354	-3,178	-1,598	-28,802
Impairment losses	0	0	0	0	0	0	0
Finance expenses	-5,452	-111	-22	-42	-506	-23	-6,156
Financial income	409	29	0	54	124	0	616
Share in results of companies accounted for using the equity method	0	-115	0	-500	0	0	-615

Further details in the explanatory notes under point D.30.

1 Preventive Fire Protection

No customer contributed more than 10% of external revenues in 2021.

As shown above, depreciation and amortization, financial expenses, finance income, and the share of results of companies accounted for using the equity method are allocated according to the locations of Group companies (production-based).

INFORMATION ON BUSINESS UNITS

Revenues
2020	2021
817	735
86	89
29	30
72	78
40	43
1,044	975

CEEU area	NISA area	MENA area	APAC area	NOMA area	PFP1	Group
362,941	114,462	150,118	127,028	260,917	28,708	1,044,173
19,312	3,478	16,236	4,374	15,080	-776	57,703
26,689	144	2,050	3,638	19,425	-663	51,283
-20,444	-745	-1,088	-330	-3,026	-1,340	-26,972
0	0	0	0	0	0	0
-4,389	-212	-355	-264	-1,181	-172	-6,572
278	73	0	276	112	0	738
						-586
	0	76	0	-662	0	0

Further details in the explanatory notes under point D.30. Values for 2020 have been adjusted.

1 Preventive Fire Protection

No customer contributed more than 10% of external revenues in 2020.

As shown above, reversal of an impairment loss and amortization, financial expenses, finance income, and the share of results of companies accounted for using the equity method are allocated according to the locations of Group companies (production-based).

INFORMATION ON GEOGRAPHICAL AREAS

	Revenues		Property, plant and equipment		Intangible assets		Right-of-use Assets	Right-of-use Assets
in € thousand	2020	2021	2020	2021	2020	2021	2020	2021
Austria	73,391	75,848	87,016	86,005	25,565	33,588	5,511	7,117
USA	234,874	221,631	12,259	14,689	1	1,129	7,564	8,058
Germany	232,130	203,259	30,554	30,422	10,135	9,491	14,839	14,076
Saudi Arabia	97,354	50,326	5,688	6,607	0	0	837	823
Rest of the world	406,423	424,046	21,504	24,350	2,638	2,201	3,426	5,133
Group	1,044,173	975,110	157,020	162,073	38,339	46,409	32,177	35,207

Explanatory notes

A. GENERAL INFORMATION

A1. INFORMATION ON THE COMPANY AND THE BASIS OF PREPARATION

The Rosenbauer Group is an international group of companies whose ultimate parent company is Rosenbauer International AG, Austria. Its main focus is on producing firefighting vehicles, developing and manufacturing firefighting systems, equipping vehicles and their crews, and preventive fire protection. The Group's head office is located at Paschinger Strasse 90, 4060 Leonding, Austria. The company is registered with the Linz Regional Court under commercial register number FN 78543 f and is listed on the Prime Market of the Vienna Stock Exchange.

These consolidated financial statements of Rosenbauer International AG and its subsidiaries as of December 31, 2021 were prepared in accordance with the principles of the International Financial Reporting Standards (IFRS), as endorsed by the EU, and are expected to be presented by the Executive Board to the Supervisory Board for approval for publication in April 2022. The additional requirements of section 245a (1) of the Unternehmensgesetzbuch (UGB – Austrian Commercial Code) have been complied with.

Within the Group, accounting and measurement are based on uniform criteria and on the principle of going concern. This did not lead to a different assessment as a result of the COVID-19 crisis and the Ukraine crisis. The effects of the COVID-19 crisis and the Ukraine crisis are shown in notes D34. and E1.

Unless stated otherwise, the consolidated financial statements and the figures shown in the notes have been prepared in thousands of euro (€ thousand). The commercial rounding of individual items and percentages may result in minor rounding differences.

The consolidated financial statements have been prepared applying the historical cost system. This does not apply to derivative financial instruments or financial investments available for sale, which were measured at fair value.

A2. EFFECTS OF NEW ACCOUNTING STANDARDS

New, revised or supplemented standards

No new, revised or supplemented IASB standards affecting Rosenbauer's consolidated financial statements were applied for the first time in the 2021 financial year.

The following new, revised or supplemented standards have no impact on the consolidated financial statements of Rosenbauer International AG:

Standards/Interpretations	Effective date in the EU
Amendments to IFRS 4 Insurance Contracts – deferral of IFRS 9 (published June 2020)	Jan. 1, 2021
Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform – Phase 2 (published August 2020)	Jan. 1, 2021
Amendments to IFRS 16 Leases: Covid-19-Related Rent Concessions beyond 30 June 2021 (published March 2021)	Jan. 1, 2021

A3. CHANGES IN ACCOUNTING POLICIES

As of the time of these financial statements being approved for publication, in addition to the standards and interpretations already applied by the Group, the following standards and interpretations had already been published but were not yet effective or had not yet been endorsed by the European Commission. The Group intends to adopt these new or amended standards from their effective date.

The changes to the following standards/interpretations are not expected to have any significant impact on the consolidated financial statements of Rosenbauer International AG.

	Effective date
Standards/Interpretations	according to IASB	according to EU endorsement
IAS 12 Income Taxes: Deferred Tax related to Assets and Liabilities arising from a Single Transaction (published May 2021)	January 1, 2023	not yet applied
Amendment to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current (published January 2020) and Classification of Liabilities as Current or Non-current – Deferral of Effective Date (published July 2020)	January 1, 2023	not yet applied
Amendments to IFRS 17 Insurance contracts: Initial Application of IFRS 17 and IFRS 9 – Comparative Information (published December 2021)	January 1, 2023	not yet applied
IFRS 17 Insurance Contracts (published May 2017), including Amendments to IFRS 17 (published June 2020)	January 1, 2023	endorsed 2021
IAS 8 Accounting policies, Changes in Accounting Estimates and Errors (published February 2021)	January 1, 2023	endorsed 2022
Disclosure of Accounting Policies, Amendment to IAS 1 and IFRS Practice Statement 2 (published February 2021)	January 1, 2023	endorsed 2022
Amendments to IFRS 3, Business Combinations (published May 2020)	January 1, 2022	endorsed 2021
Amendments to IAS 16 Property, Plant and Equipment (published May 2020)	January 1, 2022	endorsed 2021
Amendments to IAS 37 Provisions, Contingent Liabilities and Contingent Assets (published May 2020)	January 1, 2022	endorsed 2021
Amendments to Annual Improvements 2018–2020 (published May 2020)	January 1, 2022	endorsed 2021

Earnings before interest and taxes (EBIT)

Share in results of companies accounted for using the equity method

Net profit for the period

A4. RETROACTIVE RESTATEMENTS AS REQUIRED BY IAS 8

Switch from nature of expense method to cost of sales method (change of accounting policy)

Rosenbauer traditionally reported in accordance with the nature of expense method, which is used in particular in the Germaninfluenced region. Due to the increasing internationalization of harmonization of the Group, it has now switched to the internationally more prevalent cost of sales method. The switch means that fluctuations in the result of operations can be better analyzed. The new presentation therefore provides a more meaningfully and internationally comparable picture of the results of operations.

The following table shows a reconciliation from the nature of expense method to the cost of sales method:

2021	Total Cost Approach	Revenues	Cost of sales	Gross Profit	R&D and Product manage ment	Other operating income	Selling expenses	General and administra tive expenses
Revenues	975,110	975,110
Other income	11,888		2,887			8,744	229	29
Change in inventory of finished goods and work in progress	-18,149		-17,871		-229		-32	-17
Capitalized development costs	8,911				8,911
Costs of goods sold	-553,733		-547,768		4,898	-5	-4,627	-6,231
Staff costs	-255,588		-171,466		-19,146		-32,752	-32,223
Depreciation and amortization expense on property, plant and equipment and intangible assets	-28,710		-13,690		-3,769		-1,809	-9,441
Impairment losses and gains on property, plant and equipment and intangible assets
Other expenses	-104,703		-70,738		-6,045	277	-23,694	-3,167
Operating result (EBIT) before share in results of companies accounted for using the equity method	35,026
Financing expenses	-6,156
Financing income	616
Share in results of companies accounted for using the equity method	-615
Profit before income tax (EBT)	28,871
Income tax	-5,655
Net profit for the period	23,216
Total		975,110	-818,646	156,464	-15,381	9,016	-62,685	-51,051

Net profit for the	Income	Earnings before	Financial	of companies accounted for using the	Financial	Financial	before interest and taxes	Other operating
period	taxes	tax (EBT)	result	equity method	expenses	income	(EBIT)	expenses
								-1,338
					-6,156
						616
				-615
	-5,655
23,216	-5,655	28,871	-6,155	-615	-6,156	616	35,025	-1,338

Share in results

Earnings

A4. RETROACTIVE RESTATEMENTS AS REQUIRED BY IAS 8

Switch from nature of expense method to cost of sales method (change of accounting policy)

The following table shows a reconciliation from the nature of expense method to the cost of sales method:

Rosenbauer traditionally reported in accordance with the nature of expense method, which is used in particular in the Germaninfluenced region. Due to the increasing internationalization of harmonization of the Group, it has now switched to the internationally

more prevalent cost of sales method. The switch means that fluctuations in the result of operations can be better analyzed. The new presentation therefore provides a more meaningfully and internationally comparable picture of the results of operations.

Earnings before interest and taxes (EBIT)

Share in results of companies accounted for using the equity method

Net profit for the period

2020	Total Cost Approach	Revenues	Cost of sales	Gross Profit	R&D and Product manage ment	Other operating income	Selling expenses	General and administra tive expenses
Revenues	1,044,173	1,044,173
Other income	6,714		224			6,546	71	-128
Change in inventory of finished goods and work in progress	-31,379		-31,370		-10		-2	2
Capitalized development costs	6,551				6,551
Costs of goods sold	-592,789		-587,460		4,926	-4	-3,771	-6,480
Staff costs	-251,042		-171,399		-18,526		-29,208	-31,909
Depreciation and amortization expense on property, plant and equipment and intangible assets	-26,971		-11,934		-3,463		-1,544	-10,030
Impairment losses and gains on property, plant and equipment and intangible assets
Other expenses	-97,553		-62,027		-5,233	-40	-26,682	-1,863
Operating result (EBIT) before share in results of companies accounted for using the equity method	57,702
Financing expenses	-6,572
Financing income	738
Share in results of companies accounted for using the equity method	-586
Profit before income tax (EBT)	51,281
Income tax	-10,306
Net profit for the period	40,975
Total		1,044,173	-863,967	180,206	-15,754	6,502	-61,135	-50,408

6,546 71 -128 2 -2 2 -4 -3,771 -6,480 -29,208 -31,909 -1,544 -10,030 -1 -40 -26,682 -1,863 -1,710 -6,572 738 -586 -10,306 6,502 -61,135 -50,408	Other operating expenses	Earnings before interest and taxes (EBIT)	Financial income	Financial expenses	Share in results of companies accounted for using the equity method	Financial result	Earnings before tax (EBT)	Income taxes	Net profit for the period
	-1,708	57,701	738	-6,572	-586	-6,421	51,281	-10,306	40,974

Callable non-controlling interests and accrued payroll (error correction)

In connection with negotiations with a minority owner of the American investment, it was found that the current shareholders' agreement ("operating agreement"), the first version of which was signed in 1998, contains a clause that triggers an unconditional payment obligation on the part of the Rosenbauer Group when a minority shareholder tenders their shares and the remaining second minority shareholder does not exercise their pre-emption right. In accordance with IAS 32, therefore, a liability must be recognized and the minority interest under IFRS 10 derecognized. In accordance with IFRS 9, the liability must be measured as of the end of the reporting period as if the option had been exercised at the earliest possible date. For Rosenbauer, it is still economically a minority interest, as both the dividend claims and the risk of changes in the value remain primarily with the minority shareholder. For these reasons, the change in value of the liability is recognized via a transfer directly from equity to the liability. In the consolidated income statement, however, the minority interest continues to be handled in accordance with IFRS 10. This corresponds to the partial recognition of NCI method.

In connection with the SAP-S4-HANA rollout, it was found that accrued payroll was not entirely recognized on an accrual basis. The booking process was improved, also resulting in a restatement of the previous years.

Consolidated statement of	Jan. 1, 2020	Accruals	Puttable NCIs	Jan. 1, 2020
financial positions	published	change	change	adjusted
Deferred tax assets	5,777	1,648	-	7,425
Total ASSETS	977,498	1,648	-	979,146
Accumulated results	195,745	-4,945	-26,377	164,422
Equity attributable to shareholders of
the parent company	220,920	-4,945	-26,377	189,597
Non-controlling interests	32,509		-26,913	5,596
Total equity	253,429	-4,945	-53,290	195,193
Puttable non-controlling interests	-	-	53,290	53,290
Other current liabilities	71,232	6,593	-	77,825
Current liabilities	432,579	6,593	53,290	492,462
Total EQUITY AND LIABILITIES	977,498	1,648	-	979,146

Both effects were corrected by restating the relevant financial statement line items for previous years accordingly:

Consolidated statement of	Dec. 31, 2020	Accruals	Puttable NCIs	Dec. 31, 2020
financial positions	published	change	change	adjusted
Deferred tax assets	3,869	1,692	-	5,561
Total ASSETS	909,466	1,692	-	911,157
Accumulated results	218,619	-5,076	-29,391	184,152
Equity attributable to shareholders of
the parent company	254,467	-5,076	-29,391	219,999
Non-controlling interests	33,146		-25,979	7,167
Total equity	287,612	-5,076	-55,370	227,166
Puttable non-controlling interests	-	-	55,370	55,370
Other current liabilities	65,206	6,767	-	71,972
Current liabilities	335,786	6,767	55,370	397,924
Total EQUITY AND LIABILITIES	909,466	1,692	-	911,157

	2020	Accruals	2020
Consolidated income statement	published	change	adjusted
staff costs	-250,869	-174	-251,043
Operating result (EBIT) before share in results of companies accounted for using the equity method	57,875	-174	57,703
Earnings before income tax	51,455	-172	51,283
Income tax	-10,350	44	-10,306
Net profit for the period	41,104	-127	40,977
thereof
Non-controlling interests	28,934	-127	28,807
basic/diluted earnings per share	4.26	-0.02	4.24

B. CONSOLIDATION PRINCIPLES

B1. COMPANIES INCLUDED IN CONSOLIDATION

The companies included in the consolidated financial statements are shown in the list of investees (see note E3. "Related party disclosures").

Subsidiaries

Subsidiaries are investees controlled by the parent company. The parent company controls an investee when it has exposure or rights to variable returns from its involvement with the investee and the ability to utilize its control over the material activities of the investee so as to influence the amount of returns from the investee.

The parent company reassesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more of the above criteria for control.

If the parent company does not have a majority of voting rights, the investee is still controlled if it has the practical ability to direct the relevant activities unilaterally. At the subsidiaries where Rosenbauer International AG does not directly or indirectly hold more than half of the voting rights, control is contractually assured.

Thus, in accordance with IFRS 10, in addition to the parent company there are five (previous year: three) Austrian and 25 (previous year: 25) foreign subsidiaries legally or constructively controlled by Rosenbauer International AG.

Consolidation of a subsidiary begins from the date the parent company obtains control of the subsidiary and ceases when the parent company loses control of the subsidiary. All the subsidiaries included are included in consolidation.

Associates and joint ventures (companies accounted for using the equity method)

An associate is an investee over which the parent company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the entity in which the investment is held. This does not constitute control or joint control of the decision-making processes.

A joint venture is a subcategory of joint arrangement as defined by IFRS 11, which is jointly controlled by the parties involved and in which the parties involved have a right to the net assets. Joint control requires the contractually agreed sharing of control of an arrangement and exists only when decisions about the relevant activities require the unanimous consent of the parties involved.

Shares in associates and joint ventures are accounted for using the equity method and recognized at cost on addition. The carrying amount is increased or decreased to recognize the investor's share of the profit or loss of the companies accounted for using the equity method after the date of acquisition. The Group's share of the profit or loss of the companies accounted for using the equity method is recognized in profit or loss in the financial result from the acquisition date.

The shares in the associate in Russia (PA "Fire-fighting special technics" LLC.; Rosenbauer's share: 49%) and the shares in Rosenbauer Ciansa S.L. (Rosenbauer's share: 50%) are accounted for using the equity method.

	Companies consolidated	Companies accounted for using the equity method
	2020	2021	2020	2021
As of Jan. 1	28	29	2	2
Foundation	0	3	0	0
Acquisitions	1	0	0	0
As of Dec. 31	29	31	2	2

Company acquisitions and reorganizations in 2020 and 2021

Rosenbauer E-Commerce GmbH was founded in May 2021. This company is to form the basis for the online business, which is to be expanded. The online store went online in Austria in September 2021 and is now being successively rolled out to other countries.

APAC Holding GmbH was founded in March 2021, and the Chinese branch was subsequently transferred to a company named Rosenbauer Fire Fighting Technology (Yunnan) Co., Ltd. The founding of the company provides a new basis for the Chinese business and meets the increased local requirements.

Rosenbauer International AG fully acquired its former sales partner Brandus GmbH, based in Andrian, Province of Bolzano, on January 30, 2020. The company now operates under the new name of Rosenbauer Italia s.r.l. This takeover marks the Group's recognition of the increasing importance of the Italian firefighting market, as it establishes its own sales and service subsidiary for South Tyrol in the first phase of its plan. Subsequently, the presence of all Rosenbauer products and services in Italy is to be expanded from this location.

The company was consolidated for the first time as of January 30, 2020 on the basis of a preliminary purchase price allocation. The final valuation of the purchase price allocation was completed in December 2020 and thus within twelve months of the acquisition date. There were no material changes to the purchase price allocation. The final purchase price allocation is as follows:

in € thousand	30.01.2020
Purchase Price	140
Acquired net assets	140
Goodwill	0

in € thousand	30.01.2020
Tangible assets	98
Intangible assets	486
Non-current assets	584
Inventories	554
Receivables and other assets	243
Cash and cash equivalents	98
Current assets	895
Non-current interest-bearing liabilities	310
Non-current provisions	110
Deferred tax liabilities	132
Non-current liabilities	552
Current interest-bearing liabilities	290
Contract liabilities	48
Trade payables	364
Other current liabilities	85
Current liabilities	787
Acquired net assets	140

None of the trade receivables were impaired and all of the contractual receivables are recoverable.

The net cash flow from the acquisition is as follows:

Net cash flow form investing activities	-42
Cash and cash equivalents	98
Tangible assets	-140
Net cash flow form investing activities in € thousand	2020

There were no other company acquisitions or reorganizations in the 2020 financial year.

B2. METHODS OF CONSOLIDATION

Business combinations are accounted for using the acquisition method. The cost of a business acquisition is calculated as the total of the consideration transferred, measured at fair value as of the acquisition date, and the non-controlling interests in the company acquired. For each business combination, the acquirer measures any non-controlling interests in the acquiree either at fair value or at the non-controlling interest's proportionate share of the acquiree's identifiable net assets. Costs incurred in the business combination are recognized under other expenses.

Goodwill is tested for impairment annually or whenever an impairment event occurs. The annual financial statements of the companies included in the consolidated financial statements are based on uniform accounting policies. The separate financial statements of the companies included were prepared as of the same date as the consolidated financial statements. All receivables and liabilities, expenses and income between companies included in the consolidated financial statements are eliminated. Intercompany profits and losses are also eliminated.

Non-controlling interests represent the share of earnings and net assets not attributable to the Group as all non-controlling interests in the Group are measured at the value of the pro rata, remeasured net assets (partial goodwill method). Non-controlling interests are reported separately in the consolidated income statement and the consolidated statement of financial position. They are reported in the consolidated statement of financial position under equity but separately from the equity attributable to the shareholders of the parent company. Acquisitions of non-controlling interests are accounted for as equity transactions. The difference between the purchase price and the carrying amount of the pro rata acquired net assets is off set against accumulated net profits.

Callable interests in the equity of subsidiaries with options to sell on the part of non-controlling shareholders represent financial liabilities for the Rosenbauer Group. In accordance with IFRS 9, these are initially recognized at the fair value of the repurchase amount and subsequently remeasured at fair value through other comprehensive income as of the end of each reporting period.

The earnings of the subsidiaries concerned are allocated in full to the Rosenbauer Group, and the non-controlling interests are reported in the consolidated income statement.

B3. CURRENCY TRANSLATION

The annual financial statements of the entities included in the consolidated financial statements that prepare their accounts in foreign currency are translated into euro in line with the functional currency concept in accordance with IAS 21.

As the companies conduct their business as financially, economically, and organizationally independent entities, this is the respective national currency for all companies. All assets and liabilities are therefore translated at the respective mean rate of exchange at the end of the reporting period while expenses and income are translated at average rates for the year.

Differences from foreign currency translation in asset and liability items as against the previous year's translation and translation differences between the consolidated statement of financial position and the consolidated income statement are recognized in other comprehensive income.

The translation difference arising from remeasurement of equity as against first-time consolidation is off set against consolidated reserves in other comprehensive income. Translation differences as of the end of the reporting period of € 6,992 thousand (2020: € -5,428 thousand) were transferred to other comprehensive income in the year under review.

The exchange rates on which currency translation is based developed as follows:

	Closing rate	Annual average rate
in €	Dec. 31, 2020	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021
100 US dollars	81.4930	88.2924	87.6208	84.6340
100 Swiss francs	92.5754	96.7961	93.4309	92.6026
100 Singapore dollars	61.6599	65.4493	63.5498	63.0355
100 Brunei dollars	61.6599	65.4493	63.5498	63.0355
100 South African rands	5.5488	5.5363	5.3268	5.6843
100 Saudi riyals	21.7085	23.5018	23.3193	22.4924
100 Australian dollars	62.9089	64.0410	60.4086	63.3590
100 Russian rubles	1.0933	1.1723	1.2100	1.1451
101 Zloty	21.9313	21.7538	22.5064	21.8722
101 VAE-Dirham	22.1631	24.0333	23.8339	22.9652
100 British pounds	111.2310	119.0079	112.4587	116.4953

B4. FAIR VALUE MEASUREMENT

Financial instruments, such as derivatives are measured at fair value on a recurring basis. Fair value is defined as the price that would have to be received from the sale of an asset or that would have to be paid for the transfer of a liability between market participants as part of an orderly transaction on the measurement date. In measuring fair value it is assumed that the transaction in which the asset is sold or the liability is transferred takes place on the principal market for the asset or liability, of the most advantageous market if there is no principal market. The Group has to have access to the principal market or to the most advantageous market.

Rosenbauer measures fair value using assumptions that market participants would use in pricing. It is assumed that the market participants act in their economic best interest. A fair value measurement of a non-financial asset takes into account a market participant's ability to generate economic benefits by using the asset in its highest and best use.

In calculating fair value Rosenbauer uses measurement methods that are appropriate under the respective circumstances and for which there is sufficient data available to measure fair value, using observable inputs where possible.

The following hierarchy is used in the consolidated financial statements to determine and report the fair values of financial instruments by measurement method:

• Level 1: Quoted (non-adjusted) prices on active markets for similar assets or liabilities.
• Level 2: Methods in which all the input parameters that significantly affect the calculation of fair value are either directly or indirectly observable.
• Level 3: Method in which the input parameters that significantly affect the calculation of fair value are not based on observable market data.

For all classes of financial instruments other than non-current interest-bearing loan liabilities, the carrying amount is equal to the fair value.

C. ACCOUNTING POLICIES

The principle of uniform accounting is implemented by applying the same policies throughout the Group.

C1. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment are measured at the lower of cost less depreciation and cumulative impairment or recoverable amount. Depreciation is calculated using the straight-line method from the time it is in the condition necessary for it to be capable of operating. Cost is the amount of cash or cash equivalents paid or the fair value of the other consideration given to acquire an asset at the time of its acquisition or construction.

The following amortization rates are applied:

Plant buildings and other constructions	3.00%–10.00%
Office buildings	2.00%–4.00%
Technical equipment and machinery	10.00%–25.00%
Other equipment, furniture and fixture	10.00%–33.33%

The residual carrying amounts, depreciation method and useful lives are reviewed at the end of each reporting period and adjusted as necessary.

If there is evidence of impairment for non-financial assets and the recoverable amount – the higher of the value in use or fair value less costs of disposal – is less than the respective carrying amount, the assets are written down to recoverable amount in accordance with IAS 36 ("Impairment of Assets"). If the reasons for an impairment loss recognized in the previous years no longer apply, the impairment loss is reversed. Property, plant and equipment and intangible assets are derecognized either on disposal or when no future economic benefits are expected from its use.

If the recoverable amount of an asset cannot be calculated, the asset is included in a cash-generating unit (CGU) and tested for impairment, using the value in use as the recoverable amount. In the Rosenbauer Group usually the legally separate business units each form a CGU.

An impairment loss recognized previously is only reversed if there has been a change in the estimates used to determine the asset's recoverable amount since the last impairment loss was recognized. If this is the case, the carrying amount of the asset is increased to its recoverable amount. However, this amount must not increase the carrying amount of an asset above the carrying amount that would have been determined for the asset had no impairment loss been recognized in prior years. Such a reversal of an impairment loss is recognized immediately in profit or loss.

C2. INTANGIBLE ASSETS

With the exception of goodwill, intangible assets are amortized using the straight-line method. The following amortization rates are applied:

Rights/licenses	25.0%–33.3%
Customer base	10.00%
Technology	7.00%–10.00%
Capitalized development costs	10.00%–25.00%
Other intangible assets	25.0%–33.33%

The amortization period and the amortization method for intangible assets with a finite useful life are reviewed at least at the end of each financial year. Amortization of intangible assets is reported in "Depreciation and amortization expense on property, plant and equipment and intangible assets".

Goodwill

Goodwill in accordance with IFRS 3 is tested for impairment annually and whenever there are indications it has become impaired. Goodwill is assigned to the cash-generating units that are expected to profit from the business acquisition in order to perform impairment testing.

A key criterion for qualifying as a cash-generating unit is its technical and economic independence for generating income. Impairment in a cash-generating unit is calculated by comparing its current amortized carrying amount (including the goodwill assigned) with the value in use. The value in use is calculated as the present value of the associated future receipts and payments based on data from medium-term corporate planning. Cash flows incurred after a period of 3 years are extrapolated using the forecast average industry growth of 1% (2020: 1%).

The table below summarizes key assumptions for each cash-generating unit to which goodwill has been assigned:

	Period of cash flow forecasts	Average annual increase in revenues	Annual margin development	Discount rate before taxes
2021
Rosenbauer d.o.o.	3 years	31%	Constantly rising	10.1%
Rosenbauer UK plc	3 years	13%	increase to pre-Brexit levels	10.5%
Rosenbauer Brandschutz Deutschland	3 years	2%	constant	9.8%
2020
Rosenbauer d.o.o.	3 years	13%	Constantly rising	8.8%
Rosenbauer UK plc	3 years	32%	increase to pre-Brexit levels	9.1%
Rosenbauer Brandschutz Deutschland	3 years	3%	slightly rising	8.4%

The subsidiary in the UK has had to deal with Brexit and the COVID-19 pandemic. In some cases, this meant delays in tenders and deliveries, as well as reduced service revenues. Fortunately, the subsidiary made it through this challenging period without losses. Revenues, at least, made a significant recovery in 2021, and the expectation of regaining pre-Brexit levels in both revenues and EBIT should be met in the next two years. The assumptions regarding revenue development at the other cash-generating units are generally based on past results and internal forecasts. The cost drivers and additions to assets are based on empirical values and internal expectations. The discount rate is calculated based on current market data for similar enterprises in the same branch of industry.

In the assumptions used there is estimation uncertainty regarding earnings, the change in working capital, investment and the discount rate.

A sensitivity analysis in which discount rates were raised by 50 basis points did not identify any impairment. In addition, the sensitivity analysis showed that given a reduction in EBIT of 10% for 2022 to 2024, with all other parameters remaining constant, the carrying amounts would still be covered and there would no impairment requirement.

For the purposes of the goodwill impairment test, the legally independent business units were generally defined as goodwill-carrying CGUs based on internal monitoring of goodwill.

The table below shows the carrying amounts of the existing goodwill for each CGU:

in € thousand	Dec. 31, 2020	Dec. 31, 2021
Rosenbauer d.o.o	843	843
Rosenbauer UK plc	322	344
Rosenbauer Brandschutz Deutschland	4,146	4,146
	5,311	5,333

If the carrying amount of the CGU to which the goodwill was allocated exceeds its recoverable amount, then impairment is recognized on the goodwill allocated to this CGU in the amount of the difference. If the impairment loss exceeds the carrying amount of the goodwill, the additional impairment is divided up based on the carrying amounts of each individual asset of the CGU. The carrying amount of an asset must not be written down below a determinable net realizable value or value in use or below zero. Impairment losses on goodwill cannot be reversed in accordance with IAS 36.

Research and development

Research costs are not capitalized under IAS 38 ("Intangible Assets") and are therefore shown directly and in full in the income statement.

Development costs intended to significantly advance a product or process are only capitalized in accordance with IAS 38 if the product or process is technically and economically feasible, it can be marketed and will generate future economic benefit, the expenses can be reliably measured and Rosenbauer has sufficient resources to complete the development project. All other development expenses are recognized immediately in profit or loss. Capitalized development expenses for completed projects are reported at cost less cumulative write-downs. As long as a development project has not been completed, the cumulative amounts recognized are tested for impairment annually or whenever there are indications that they may have become impaired.

Development costs of € 8,911 thousand were capitalized in the 2021 financial year (2020: € 6,551 thousand).

C3. SECURITIES

Regular way purchases and sales of financial assets, such as securities, are recognized as of the settlement date, i.e. the date on which the company commits to purchasing the asset.

In accordance with IFRS 9, at initial recognition financial assets are classified for the subsequent measurement either at amortized cost, at fair value through other comprehensive income or at fair value through profit or loss. The classification of financial assets at initial recognition is dependent on the properties of the contractual cash flows of the financial assets and on the Group's business model for the management of its financial assets.

In the Rosenbauer Group, at initial recognition, securities are measured at fair value and are assigned to the "Mandatorily measured at fair value through profit or loss" IFRS 9 category. Financial assets mandatorily measured at fair value through profit or loss are recognized in the statement of financial position at fair value, with the changes in the fair value recognized as a total in the income statement.

Interest received or paid for financial investments are reported as interest income or interest expenses. Interest income is recognized pro rata temporis taking into account the effective interest rate on the asset. Dividend income is reported when the legal right to payment arises.

C4. DEFERRED TAXES

Deferred taxes are recognized on all taxable temporary differences between the value in the IFRS consolidated statement of financial position and the tax accounts. They are calculated in accordance with IAS 12 using the balance sheet liability method. Deferred tax liabilities are recognized for all taxable temporary differences, except for the deferred tax liabilities arising from the initial recognition of goodwill or an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither accounting profit nor taxable profit.

Furthermore, deferred tax liabilities are not recognized for taxable temporary differences in connection with investments in subsidiaries, associates or interests in joint ventures if the timing of the reversal of the temporary difference can be controlled and it is likely that the temporary differences will not reverse in the foreseeable future.

Current tax assets and tax liabilities for the current and earlier period are measured at the amount expected to be refunded by the tax authority/paid to the tax authority. Current taxes on items recognized in other comprehensive income are not recognized in the income statement but rather in other comprehensive income.

Deferred tax assets on loss carryforwards are recognized if their utilization is expected in the planning period.

The carrying amount of deferred tax assets is assessed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profit will be available against which the deferred tax asset can be at least partially utilized. Unrecognized deferred tax assets are assessed at the end of each reporting period and recognized to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply to the period when the asset is realized or the liability is settled.

Current taxes are calculated using the tax rates and laws that apply as of the end of the reporting period.

C5. INVENTORIES

Inventories are carried at the lower of cost and net realizable value (market price) at the end of the reporting period. The cost is calculated for assets of the same type using moving average prices or a similar method. The cost includes only the directly attributable costs and pro rata overheads assuming the normal utilization rate of the production facilities. Interest is not recognized for borrowed capital.

C6. TRADE RECEIVABLES

Subject to a significant financing component, trade receivables are initially recognized at the transaction price in accordance with IFRS 9. Non-interest-bearing or low-interest receivables with an expected remaining term of more than one year are discounted and initially recognized at their present value.

Allocation to possible IFRS 9 categories is dependent firstly on the business model test and secondly on the characteristics of the cash flows. Some companies in the Rosenbauer Group use the "hold and sell" business model for trade receivables, as the contractual cash flows are collected both through customer payments and through sales to various house banks under factoring agreements. Trade receivables are therefore assigned to the "Measurement at fair value through other comprehensive income" category. The allocation of trade receivables to this category does not have any material effect on Rosenbauer's consolidated financial statements as the majority of trade receivables are expected to be settled within one year, and it is therefore assumed that the fair value is approximately equal to amortized cost in line with the previous measurement standard. The other trade receivables are assigned to the "At amortized cost category," as the Group adopts the "hold" business model for these trade receivables.

Trade receivables that were assigned to the "At fair value through other comprehensive income" category at initial recognition are subsequently measured at fair value and, as appropriate, reduced for impairments for expected credit losses. Trade receivables that were assigned to the "At amortized cost" category at initial recognition are subsequently measured at amortized cost, as appropriate, reduced for write-downs for expected credit losses.

Trade receivables in foreign currency are measured at the middle exchange rate as of the end of the reporting period.

The Group assesses at the end of each reporting period whether a financial asset or group of financial assets is impaired.

In calculating the impairment at the level of expected credit losses, a distinction is made between receivables with and without credit impairment. A receivable is classified as having credit impairment if the following events occur:

• The receivable is past due and there are clear indications that the customer will fail make payment on what is owed.
• Bankruptcy proceedings are likely to or have already been initiated.
• Settlement negotiations were initiated with Rosenbauer.

For receivables with credit impairment, the impairment is recognized using a specific valuation allowance in the amount of the expected credit losses.

All other receivables are therefore not classified as having credit impairment. At the end of each reporting period, the impairment is generally determined for receivables without credit impairment using an impairment matrix in the amount of the expected credit losses. The provision rates are determined on the basis of the past due period in days. The calculation includes the probability-weighted outcome based on the time value of money and reasonable and supportable information about past events and economic conditions to be expected in the future that are available at the end of the reporting period.

Impairment losses are reversed in profit or loss if the reason for the impairment is no longer applicable or there is improvement.

The receivable is derecognized only in the event of insolvency or unsuccessful legal claims.

A financial asset (or part of a financial asset or part of a group of financial assets) is derecognized when it meets one of the following three conditions:

• a) The contractual rights to receive the cash flows of that financial asset have expired.
• b) The Group has transferred the contractual rights to receive the cash flows of the financial asset and either transferred substantially all the risks and rewards of ownership of the financial asset or neither transferred nor retained substantially all the risks and rewards of ownership of the financial asset, but has transferred control of the asset.

C7. CASH IN HAND

The cash and cash equivalents reported under "Cash and cash equivalents" such as cash in hand and bank balances are classified at initial recognition as "At amortized cost" for subsequent measurement.

The cash and cash equivalents reported under "Cash and cash equivalents" are measured in subsequent periods using the effective interest method and are tested for impairment in accordance with IFRS 9. Impairment is recognized through profit and loss.

The Group assesses at the end of each reporting period whether a financial asset or group of financial assets is impaired. In terms of calculating impairment requirements for cash and bank balances, the Group uses simplification regulations from IFRS 9.5.5.10 (the simplification of financial instruments with low credit risk), according to which there is no review of credit deterioration at financial institutions with a credit rating in the "investment grade" category. The expected credit losses calculated for bank balances are immaterial.

Cash and cash equivalents in foreign currency are measured at the middle exchange rate as of the end of the reporting period.

Interest income is recognized pro rata temporis taking into account the effective interest rate on the asset.

C8. DERIVATIVE FINANCIAL INSTRUMENTS AND HEDGE ACCOUNTING

Regular way purchases and sales of financial assets are recognized as of the settlement date, i.e. the date on which the company commits to purchasing the asset.

The Group uses derivative financial instruments, such as currency forwards, as hedge against exchange rate risks. These derivative financial instruments are recognized at fair value when the agreement is concluded and subsequently remeasured at fair value in subsequent periods. Derivative financial instruments are recognized as financial assets if their fair value is positive, and as financial liabilities if this is negative.

For subsequent derivatives to which hedge accounting does not apply are assigned to the "Mandatorily measured at fair value through profit or loss" IFRS 9 category, with the total changes in the fair value recognized in the income statement.

In the Rosenbauer Group, certain hedging relationships in the foreign currency area are designated as cash flow hedges. Derivative financial instruments, which are designated as hedging instruments as part of the hedge accounting regulations of IFRS 9 ("Financial Instruments"), are recognized at the effective portion of fair value in other comprehensive income and accumulated in the hedging reserve in equity. The ineffective portion of an effective hedging instrument is recognized in profit or loss. As of the date of the hedged item being recognized, the result of the hedge will be reclassified from other comprehensive income to the income statement. When the hedging instrument expires or is sold, terminated or exercised, or the hedge no longer exists but the proposed transaction is still expected to occur, the unrealized gains/losses accrued from this hedging instrument to date remain in equity and, in accordance with the above, are recognized in profit or loss when the hedged item is recognized in the income statement. If the originally hedged transaction is no longer expected to occur, the cumulative unrealized gains and losses in equity until then are also recognized in profit or loss.

The hedging policy and the financial instruments in place as of the end of the reporting period are described in more detail under note D37. "Risk management".

C9. NON-CURRENT STAFF OBLIGATIONS

Defined benefit plans

On the basis of statutory obligations, employees of Austrian Group companies who joined before December 31, 2002 receive a one-time settlement in the event of termination or as of the retirement date. This is dependent on the number of years of service and the relevant remuneration at the time of settlement. The benefit obligations are offset by provisions calculated in line with actuarial principles. The provision for defined benefit plans recognized in the statement of financial position is equal to the present value of the defined benefit obligation (DBO) at the end of the reporting period. Provisions for settlement are calculated uniformly as of the end of the reporting period in line with the projected unit credit method using an interest rate of 1.1% p.a. (2020: 0.8% p.a.) and including a growth rate for future pay increases of 3.0% p.a. (2020: 3.0% p.a.). Interest expenses on staff provisions are recognized as finance cost. The discount rate is determined on the basis of yields on prime, fixed rate corporate bonds with a rating of AA or better. The term of the bonds matches the expected maturities of the defined benefit obligations.

In addition to disability and mortality rates (basis: data AVÖ 2018-P for salaried employees and Pagler & Pagler for manual workers) and retirement on reaching pension age, the turnover rate was set at between 0% and 1.80% (2020: between 0% and 1.47%) depending on the number of years of service completed. The calculation is based on individual retirement age in accordance with the Austrian Pension Reform, taking into account the gradual achievement of retirement age.

The provision amounts are calculated by an actuary as of the end of the respective reporting period in the form of an actuarial report.

In accordance with IAS 19, the remeasurement of provisions for pensions and similar obligations, and of settlement obligations, is recognized in other comprehensive income.

For the pension commitments in place that were determined under works agreements, the scope of benefits is based on eligible years of service in the form of a fixed amount per year. This fixed amount is based on the eligible individual income on retirement. Current pensions are regularly reviewed to ensure that they maintain their value. Current pensions are paid out 14 times per year.

The calculation of pension obligations is based on the following parameters:

		Interest rate		Salary increase		Pension increase
in %	2020	2021	2020	2021	2020	2021
Austria	0.8	1.1	3.0	3.0	2.0	2.0
Germany	0.8	1.1			2.0	2.0

Defined contribution plans

In addition to the defined benefit system, there is a defined contribution plan for employees in Austria who joined after January 1, 2003. An amount prescribed by law of 1.53% of gross total salary must be paid into an employee pension fund (2021: € 1,166 thousand; 2020: € 1,056 thousand), which is recognized in staff costs. Furthermore, amounts of € 406 thousand (2020: € 429 thousand) in Austria and € 1,660 thousand (2020: € 1,396 thousand) in the United States were paid into a pension system that constitutes a defined contribution plan. In Germany contributions of € 3,846 thousand (2020: € 3,729 thousand) were paid into the German pension plan that also constitutes a defined contribution plan. As there are no further commitments other than these contributions, as in Austria, no provisions were required.

Other con-current staff obligations

Provisions for anniversary bonuses are calculated uniformly as of the end of the reporting period in line with the projected unit credit method using an interest rate of 1.3% p.a. (2020: 1.0% p.a.) and including a growth rate for future pay increases of 3.0% p.a. (2020: 3.0% p.a.). In addition, further to disability and mortality rates (basis: AVÖ 2018-P for employees and Pagler & Pagler for manual workers) and retirement on reaching pension age, turnover rates of between 0% and 6.22% (2020: between 0% and 6.40%) depending on the number of years of service completed were taken into account. The Interest expenses on staff provisions for long-service bonuses are reported in staff costs.

C10. OTHER PROVISIONS

Other current and non-current provisions include all risks from uncertain obligations from past events by the time of the preparation of the statement of financial position. If such obligations will probably lead to an outflow of resources embodying economic benefits, they are carried at the amount considered the most likely given a careful review of the matter.

If the Group expects at least a partial reimbursement for a recognized provision (for example, from an insurance policy), the reimbursement is recognized as a separate asset if it is as good as certain. The expense relating to the provision is reported in the income statement net of the amount recognized for reimbursement. Where the effect of the time value of money is material, provisions are discounted using a pre-tax rate that reflects the risks specific to the liability, if necessary, in the individual case. The increase in provisions over time in the event of discounting is recognized in net finance costs.

C11. LIABILITIES

At initial recognition financial liabilities are recognized at fair value (equal to fair value). They are subsequently measured at amortized cost using the effective interest method. Liabilities in foreign currency are measured at the mean rate of exchange as of the end of the reporting period.

Financial liabilities from callable non-controlling interests are recognized at fair value (level 3). For the repayment amount, the purchase price formula according to the shareholders' agreement ("operating agreement") is applied at the earliest possible exercise date. For the purchase price formula, the two most recently available sub-group financial statements and the most recently approved planning for the subsequent year are consulted,

and the pro rata equity is also recognized. The longest lead time of the shareholders' agreement (three months) is used as the expected payment date.

The short-term interest rate of 1.5% (2020: 1.5%) is derived from observable, short-term USD interest rates and also includes own credit risk and other risk components. The result of remeasurement is recognized directly in other comprehensive income. If the net result planned for the subsequent year increases by 10%, the liability would increase by € 1,594 thousand (previous year: € 1,316 thousand).

A financial liability is derecognized when the obligation specified in the contract is discharged, canceled or expires. If a financial liability is exchanged for a different financial liability to the same lender with substantially different terms or if the terms of an existing financial liability are substantially changed, such an exchange or change of terms is treated as the derecognition of the original liability and the recognition of a new liability. The difference between the respective carrying amounts is recognized in profit or loss.

C12. REVENUE RECOGNITION

The Group operates in the areas of the sale of firefighting vehicles, firefighting systems and equipment, the sale of stationary and mobile systems for preventive firefighting and related after-sale services. Revenues from contracts with customers are recognized if the control of goods and after-sale services is transferred to the customer. Recognition occurs in the amount of the consideration that the Group expects to be entitled in exchange for these goods or services.

The significant judgments, estimates and assumptions in connection with the revenues from contracts with customers are described in C15 disclosures.

Revenues from the sale of vehicles, firefighting systems, equipment and stationary and mobile fire extinguishing systems

These revenues are recognized when control of the asset is transferred to the customer. This is generally the case for delivery. In special cases, for example, delayed acceptance by the customer, bill-and-hold agreements may also apply. The payment terms are short-term and do not include a financing component. If other loan commitments are included in the contract that represent separate performance obligations, a portion of the transaction price is assigned to these loan commitments. (e. g. extended warranties). In accordance with IFRS 15, repurchase obligations are taken into account as a variable component of consideration when determining the transaction price. Anticipated penalties are treated as transaction price reductions and, as a result, shown as revenue reductions.

In applying the regulatory waiver contained in IFRS 15, the Group needs not adjust the promised amount of consideration for the effects of a significant financing component if the entity expects, at contract inception, that the period between when the entity transfers of the promised good or service to a customer and when the customer pays for that good or service will be one year or less.

Revenues from the sale of after-sale services

The Group performs servicing (maintenance, customer service, refurbishment) that is sold to the customer either individually or in a bundle with the sale of vehicles, firefighting systems, equipment and stationary and mobile fire extinguishing systems. Multiple-element arrangements therefore contain both a service component and the delivery of goods. Consequently, the Group allocates the transaction price of the individual components on the basis of relative individual selling prices and the revenues from these contracts are not realized in full as of a specific time.

The payment period normally ends 0 to 30 days after invoice date.

Repurchase obligations

In accordance with IFRS 15, repurchase obligations in customer contracts must be taken into account as a variable component of consideration when determining the transaction price. IFRS 15 requires that revenues from sales are only recognized to the extent that future cancellation is not expected.

Contract liabilities

A contract liability is a Group's obligation to transfer goods or services to a customer for which the entity has received consideration (or an amount of consideration is due) from the customer. If a customer pays consideration before the Group transfers the goods or services to the customer, a contract liability will be recognized when the payment is made or the payment is due (whichever is earlier). Contract liabilities are recognized as revenues, as soon as the Group fulfills its contractual obligations.

Warranty

For the majority of contracts with customers, there is a legal warranty period in the respective country. In individual cases, extended warranties are sold in separate contracts or in multiple-component arrangements, beyond the legal warranty period. In the case of multiple-component arrangements, these are accounted for as separate performance obligations.

Contract acquisition costs

The Rosenbauer Group uses the practical expedient from IFRS 15, whereby contract acquisition costs from contracts with customers with a term of less than one year are to be recognized as an expense and should not be capitalized when these costs are incurred.

C13. GOVERNMENT GRANTS

Government grants in connection with investments result in reductions in acquisition and production costs. Grants for costs that cannot be specifically allocated, such as in particular research and development costs for research and development projects that cannot be capitalized, are recognized in other income. Grants relating to directly attributable costs, such as in particular short-time working allowances or reimbursement of non-wage labor costs, reduce the corresponding expenses in the income statement.

C14. CURRENCY TRANSLATION

Monetary items in a foreign currency are translated into the functional currency at the end of each reporting period using the exchange rate at the end of the reporting period. Non-monetary items recognized in line with the historical cost principle are still reported using the exchange rate at the time of first-time recognition. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Foreign exchange differences from the translation of monetary items are recognized in profit or loss. This does not include foreign exchange differences from foreign currency borrowings to the extent that they are used to hedge a net investment in a foreign operation.

C15. ESTIMATES AND JUDGEMENTS

In the consolidated financial statements, to a certain degree, estimates and assumptions must be made that affect the recognized assets and liabilities, the disclosure of other obligations at the end of the reporting period and the reporting of income and expenses during the reporting period. The actual amounts that arise in the future can differ from estimates.

The most important assumptions about the future that entail a significant risk in the form of a material adjustment of the carrying amounts of assets and liabilities within the next financial year are explained below:

Assessment of control of subsidiaries and joint management of joint ventures

Please see D10 and D4 for information on the judgments and assumptions made in classifying Rosenbauer Aerials as a subsidiary and classifying Rosenbauer Ciansa as a joint venture.

Impairment of non-financial assets

There is an impairment loss if the carrying amount of an asset or a cash-generating unit exceeds its recoverable amount. The recoverable amount of an asset or a cash-generating unit is the higher of its fair value less costs of disposal and its value in use. The calculation of the fair value less costs of disposal is based on available data from binding disposal transactions between independent business partners for similar assets or observable market prices less directly attributable costs for the disposal of the asset. A discounted cash flow method is used to calculate the value in use. The recoverable amount is dependent on the discount rate used in the discounted cash flow method and on forecast future cash flows as well as the growth rate used for purposes of extrapolation (details of the impairment of non-financial assets can be found in notes C2. and D1).

Measurement of receivables

The Group uses an impairment matrix to calculate the expected credit losses on trade receivables. The provision rates are determined on the basis of the past due period in days.

The impairment matrix is initially based on the Group's historical loss rates. The Group subsequently calibrates the table to adjust its historical defaults to information about the future. If, for example, it is assumed that the forecast economic conditions will deteriorate in the course of the coming year, the historical loss rates will be adjusted. This occurred in 2020 and 2021 in connection with adjustments due to the coronavirus crisis.

The historical loss rates are updated and any changes to estimates about the future are analyzed at the end of each reporting period.

Assessment of the relationship between the historical loss rates, the forecast economic conditions and the expected credit losses constitutes a significant estimate. The amount of expected credit losses depends on the changes in circumstances and the forecast economic conditions. (Details on receivables and the probability of default can be found in notes D7. "Current receivables and other assets".

Inventory measurement

Standardized marketability and visibility write-down was implemented to take into account the risk of obsoleteness. Finished goods are also systematically reviewed in terms of measurement at the lower of cost or market value, which is essentially defined by sales price expectations, currency developments, the time of sale and the costs still anticipated (for details see note D6.).

Deferred tax assets

Tax planning is used as the basis for the capitalization of deferred tax assets, taking into account the business planning by subsidiaries. If, on the basis of these future forecasts, a loss carryforward is not expected to be used within an appropriate period of three to five years, the loss carryforward is not recognized (see note D5.).

Provisions for taxes

At the end of January 2022, Rosenbauer was informed that the tax investigation in Germany could assert claims of around € 5 million against Rosenbauer Brandschutz Deutschland GmbH, which primarily result from hidden profit distributions of the former beneficial owner / managing director. The hidden profit distributions all relate to a period before the company belonged to the Rosenbauer Group, namely the years 2004 – 2015.

Rosenbauer immediately took all necessary steps to avert the losses for the company as fully as possible. In particular, various legal steps were taken against the former managing director. The legal actions are deemed to have good prospects for success. The collectibility of the receivables is also deemed to be good. There are also possibilities to reduce the payment amount or to have payments counted against it. The estimation uncertainty regarding this matter is considerable, as the case is complex and will extend over a longer period of time. In March 2022, the tax authority informed Rosenbauer of a tax liability of € 3,388 thousand. This amount was recognized in the results as prior-period tax expense for 2021. As the prospects for reimbursement are good, but not virtually certain, they cannot currently be recognized as assets under IFRS.

Staff provisions

The Rosenbauer Group uses actuarial calculations from actuaries for staff provisions. The calculations are based on assumptions regarding the discount rate and increases in remuneration and pensions (details of the assumptions and the amounts recognized for staff provisions can be found in notes C9. and D13.).

Other provisions

The amount recognized as a provision for warranties is the present value of the best estimate of these costs based on past experience (2021: € 12,817 thousand; 2020: € 11,047 thousand). The Group expects to settle the majority of the provisions in the coming year.

Irregularities were detected in the process of preparing the 2017 annual financial statements of Rosenbauer Deutschland GmbH. The investigations initiated in this context were concluded by the end of 2018. Proceedings for asserting claims have been initiated at the civil courts and are still unresolved.

Callable non-controlling interests

The repayment amount results from the application of a purchase price formula. This is based on the local sub-group financial statements and the most recently approved planning for the subsequent year. The sub-group financial statements regularly include estimates and judgments, but these do not usually differ from those of the Group as a whole. The planning entails estimation uncertainty regarding the net result. There is low estimation uncertainty regarding the discount rate.

Development costs

Development costs were capitalized in line with the accounting policies presented. First-time recognition of costs is based on the management assessment that technical feasibility and commercial viability have been demonstrated. For the purposes of calculating the amounts to be capitalized, the management makes assumptions regarding the forecast future cash flows from the project, the applicable discount rates and the period when the forecast future benefit will be received. The carrying amount of capitalized development costs was € 31,666 thousand (2020: € 25.616 thousand) as of December 31, 2021 and essentially relates to development services for vehicles, high-rise aerial appliances and firefighting systems.

Capitalized development costs that have not yet been amortized and their underlying development projects generate their own future cash inflows, which are tested for impairment at least once a year on the basis of economic efficiency calculations.

Cash flow hedges

In accounting for cash flow hedges for future cash flows it is assumed that these cash flows are highly likely.

Accounting of leases

IFRS 16 requires estimates that influence the valuation of lease liabilities and right-of-use assets. These include the terms of contracts covered by IFRS 16, the terms of the contracts and the incremental borrowing rate used to discount future payment obligations. The incremental borrowing rate is derived from the risk-free interest rate of the underlying term, adjusted for country, currency and corporate risk.

Changes in estimates

There were no significant changes in estimates in the 2021 financial year.

C16. LEASES

All significant individual leases relate to property. The terms of these contracts range from two to 33 years. Some leases provide for an extension option for the lessee, one allows for early termination by the lessee.

The majority of leases that have property as a leased asset provide for an annual index adjustment, which is based on local indices.

In terms of volume, most individual contracts in the Rosenbauer Group relate to vehicles. Many of these contracts can be classified as current. Vehicles that were included in the statement of financial position have a term of between 12 and 48 months.

Extension and termination options

Some leases within the Rosenbauer Group contain extension or termination options for the lessee. On the provision date, for each extension or termination option an assessment is made by the Group as to whether the exercise of the option can be regarded as sufficiently certain. Various factors are taken into account, including economic barriers.

The Group reassesses whether it is reasonably certain that an extension option will be exercised if a significant event or significant change in circumstances occurs that is within its control.

Potential future cash outflows of € 912 thousand (previous year € 3,502 thousand) were not included in the lease liability because it is not sufficiently certain that the lease agreements will be extended (or not terminated).

General notes on the accounting of leases

At inception of the lease, the Group assesses whether the agreement constitutes or contains a lease. This is the case when the agreement gives the right to control the use of an identified asset for a specified period of time against payment of a fee. In order to assess whether an agreement contains the right to control an identified asset, the Group uses the definition of a lease in accordance with IFRS 16.

This method was applied to all contracts relevant to IFRS 16.

Low-value leased assets and short-term leases with a term of less than twelve months are not capitalized in accordance with the exemption option, but are recognized on a straight-line basis.

On the provision date or when an agreement containing a lease component is amended, the Group allocates the contractually agreed remuneration on the basis of the relevant individual selling prices.

On the provision date, the Group recognizes a right-of-use asset and a lease liability. The right-of-use asset is initially measured at amortized cost, which is equal to the initial measurement of the lease liability, adjusted for payments made on or before the provision date, plus any initial direct costs and the estimated costs of dismantling or removing the underlying asset or restoring the underlying asset or the site on which it is located, less any lease incentives received.

The right-of-use asset is then depreciated on a straight-line basis from the date of provision to the end of the lease period. In addition, the right-of-use asset is continuously adjusted for impairment where necessary and adjusted for certain revaluations of the lease liability.

Initially, the lease liability is measured at the present value of the lease payments not yet made at the provision date, discounted at the Group's incremental financing rate.

To determine its incremental borrowing rate, the Group obtains interest rates from external financial sources and makes certain adjustments to reflect lease terms and the nature of the asset.

C17. CONSOLIDATED STATEMENT OF CASH FLOWS

The consolidated statement of cash flows is presented using the indirect method. Net interest income (including interest from IFRS 16) is a component of net cash flow from operating activities.

The lease payments included in the measurement of the lease liability comprise:

• fixed payments, including de facto fixed payments
• variable lease payments linked to an index or (interest) rate, initially measured on the basis of the index or interest rate valid on the provision date
• amounts expected to be paid under a residual value guarantee, and
• the exercise price of a purchase option if the Group is reasonably certain to exercise it, lease payments for an extension option if the Group is reasonably certain to exercise it, and penalties for early termination of the lease, unless the Group is reasonably certain not to terminate the lease early.

The lease liability is measured at amortized cost using the effective interest method. It is remeasured if future lease payments change as a result of a change in an index or (interest) rate, if the Group adjusts its estimate of the expected payments under a residual value guarantee, if the Group changes its assessment regarding the exercise of a purchase, extension or termination option or if a de facto fixed lease payment changes.

If the lease liability is remeasured in this way, a corresponding adjustment is made to the carrying amount of the right-of-use asset or, if the carrying amount of the right-of-use asset has been reduced to zero, it is recognized in profit or loss.

The Group shows right-of-use assets and lease liabilities as separate items in the statement of financial position.

D. NOTES TO THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION AND THE CONSOLIDATED INCOME STATEMENT

D1. PROPERTY, PLANT AND EQUIPMENT, INTANGIBLE ASSETS AND RIGHT-OF-USE ASSETS

The breakdown of the items compiled in the consolidated statement of financial position and their development can be found in the consolidated statement of changes in non-current assets. As in the previous year, property, plant and equipment do not include any investment property.

The Group had contractual obligations to buy property, plant and equipment of € 4,018 thousand as of December 31, 2021 (2020: € 3,710 thousand).

Property, plant and equipment of € 7,260 thousand was pledged as collateral for liabilities in 2021 (2020: € 6,943 thousand). There are no restrictions on title.

Development costs of € 8,911 thousand (2020: € 6,551 thousand) were capitalized as internally developed intangible assets in the 2021 financial year.

D2. SECURITIES

The securities reported in the consolidated financial statements in the amount of € 655 thousand (2020: € 760 thousand) are assigned to the "Mandatorily measured at fair value through profit or loss" IFRS 9 category. The securities are listed equities, bonds and units in funds.

D3. INVESTMENTS IN ASSOCIATES

The Group holds a 49% equity investment in a Russian company (PA "Fire-fighting special technics" LLC.. Russia, Moscow). It was founded with Russian partners. The goal of the associate is to equip the Russian market with high-quality firefighting vehicles. This interest is accounted for in the consolidated financial statements using the equity method.

The summarized financial information for the associate is shown in the table below.

in € thousand	2020	2021
Non-current assets	441	385
Current assets	14,133	13,487
Non-current liabilities	4,465	1,709
Current liabilities	6,125	8,954
Net assets (100%)	3,984	3,210
Group's share in net assets	1,952	1,573
Revenues	3,545	8,015
Net profit for the period (100%)	-1,351	-1,020
Group's share in net profit for the period	-662	-500
Other comprehensive income (100%)	-2,146	0
Total comprehensive income (100%)	-3,497	-1,020

The reconciliation of the summarized financial information shown to the carrying amount is as follows:

in € thousand	2020	2021
As of Jan 1	4,742	1,952
Share of net profit for the period	-662	-500
Dividend	-1,076	0
Foreign exchange differences	-1,052	121
As of Dec 31	1,952	1,573

D4. INTERESTS IN JOINT VENTURES

The Group has a 50% interest in a Spanish company (Rosenbauer Ciansa S.L.). This was founded with the joint owner and manager of Rosenbauer Española.

The Board consists of four members in total, two of whom appointed by Rosenbauer International AG and two by the joint venture partner. Rosenbauer International AG is therefore not able to control the relevant activities of Rosenbauer Ciansa S.L. under this arrangement. In the event of a tied vote on the Board, decisions are made by an independent business consultant. In the company agreement, Rosenbauer has the option to acquire a further 12.11% of shares. Exercising this option would not grant Rosenbauer a voting majority on the Board as voting is per capita and not by voting rights. The company is therefore a joint venture as defined by IFRS 11.

This interest is accounted for in the consolidated financial statements using the equity method. The joint venture is not material to the Group.

Development of the carrying amount of the equity investment in the joint venture in Spain:

As of Dec 31	1,669	1,517
Dividend	-98	-38
Share in total comprehensive income	76	-114
As of Jan 1	1,692	1,669
in € thousand	2020	2021

The total comprehensive income of the joint venture does not include any items in other comprehensive income.

D5. DEFERRED TAXES

The differences between the carrying amounts in the tax accounts and the IFRS consolidated statement of financial position result from the following differences and give rise to the following deferred taxes:

	Deferred tax 2020		Deferred tax 2021
in € thousand	Assets	Liabilities	Assets	Liabilities
Outstanding 1/7th write-downs as per section 12 (3) KStG (Corporation Tax Law)	729	0	525	0
Currency forwards, securities (outside profit or loss)	96	1,036	442	13
Currency forwards, securities (in profit or loss)	0	719	145	0
IAS 19 measurement in other comprehensive income	2,292	0	2,092	0
Capitalized development costs	0	5,819	0	7,365
Measurement differences on receivables	0	81	0	255
Revenue recognition	1,230	0	1,956	0
Extraordinary tax write-down	754	0	892	51
Measurement differences on provisions and liabilities	7,179	310	5,366	0
Capitalized loss carryforwards	590	0	5,694	0
Measurement differences on intangible assets	0	1,558	0	1,394
Leasing according to IFRS 16	8,274	8,093	9,206	8,947
Others	56	218	330	403
Deferred tax asset/liability	21,200	17,833	26,648	18,427
Netting of deferred tax assets and liabilities	-15,638	-15,638	-15,293	-15,293
Balance sheet approach as of Dec 31	5,561	2,195	11,354	3,134

Deferred tax assets of € 22,785 thousand as of December 31, 2021 were recognized on tax loss carryforwards (2020: € 2,551 thousand), these can be used indefinitely. There were loss carryforwards of € 0 thousand in 2021 (2020: € 0.1 thousand) for which deferred tax assets were not recognized as their effectiveness as ultimate tax relief was not sufficiently assured. For temporary differences of € 78,334 thousand (2020: € 61,703 thousand) from investments in subsidiaries and joint ventures, deferred tax liabilities were not recognized pursuant to IAS 12.39, as the parent company can control the timing and it is probable that the temporary differences will not reverse in the foreseeable future.

Deferred taxes include deferred tax assets of € 2,531 thousand (previous year: € 2,388 thousand) and deferred tax liabilities of € 13 thousand (previous year: € 1,036 thousand), which are not recognized in profit or loss.

D6. INVENTORIES

in € thousand	Dec. 31, 2020	Dec. 31, 2021
Raw materials and supplies	83,088	91,581
Work in progress	291,475	289,116
Finished goods and goods for resale	29,557	17,492
Goods in transit	6,980	6,197
Advance payments	6,202	3,367
	417,302	407,754

Inventories have been reduced as a result of a Group-wide project to optimize working capital.

The write-downs for the current year are reported in the income statement in the amount of € 2,515 thousand (2020: € 1,788 thousand) under cost of materials. As in the previous year, no impairment losses were reversed in the current financial year. Also, no inventories were pledged as collateral for liabilities.

D7. CURRENT RECEIVABLES AND OTHER ASSETS

in € thousand	Dec. 31, 2020	Dec. 31, 2021
Trade receivables	188,055	129,998
Receivables from factoring	710	3,003
Receivables from derivatives	7,130	394
Receivables from other taxes	12,222	5,498
Deferred items	5,835	5,428
Other receivables and assets	22,733	14,720
	236,685	159,040

All current receivables listed in the table above are due within one year.

The valuation allowances on receivables relate exclusively to trade receivables recorded under current receivables and, to a lesser extent, to receivables from factoring agreements. Impairment for the current year for trade receivables with and without credit impairments of € 1,211 thousand (2020: € 665 thousand) is recognized in other expenses. There was no impairment on other financial instruments.

Receivables with credit impairment in € thousand	2020	2021
Impairment as of Jan 1	1,380	1,490
Allocation	129	1,211
Utilization	-9	-2
Reversal	-10	-105
Impairment as of Dec 31	1,490	2,594

Receivables without credit impairment in € thousand	2020	2021
Impairment as of Jan 1	241	777
Allocation	536	0
Reversal	0	-439
Impairment as of Dec 31	777	338

More details on calculating impairment without credit impairment can be found under C6 Receivables from derivatives.

New factoring agreements were concluded in the 2021 financial year. Selected receivables from banks amounting to € 65,090 thousand (previous year: € 48,401 thousand) were sold as of the end of the reporting period. The receivables relate to vehicle deliveries that are not yet due and are backed by corresponding collateral. The receivables sold are analyzed on a case-by-case basis according to the derecognition rules of IFRS 9, and qualifying receivables are derecognized accordingly due to the transfer of control or transfer of risk. The non-prepaid amount of € 3,003 thousand (previous year: € 710 thousand) is reported under receivables from factoring agreements.

The most relevant risk for the risk assessment of the receivables sold is the risk of default, which is regarded as very low. This is due both to the fact that the customers are predominantly governmental or government-related organizations and that the receivables are very well secured with letters of credit or other security instruments on the basis of internal guidelines. Rosenbauer transfers 80% of the remaining risk of default of the receivables sold to the banks. The remaining minor 20% del credere risk is provided for in other provisions.

D8. CASH AND CASH EQUIVALENTS

in € thousand	Dec. 31, 2020	Dec. 31, 2021
Bank balances	18,920	65,371
Cash and cash equivalents	95	79
	19,015	65,450

There were no restrictions on disposal on the amounts included in this item in the previous year.

D9. EQUITY

At the end of 2021, the share capital amounted to € 13,600 thousand and was divided into 6,800,000 no-par value shares. 3,665,912 shares are registered shares and 3,134,088 are bearer shares.

The capital reserves originate from the new shares issued on the Vienna Stock Exchange in 1994 and constitute restricted capital reserves that cannot be distributed. The proposal for the appropriation of profits is based on the separate financial statements of the company prepared in accordance with the provisions of the UGB (Austrian Commercial Code).

The item "Other reserves" contains the foreign currency translation adjustment, the revaluation reserve, remeasurements in accordance with IAS 19 and the hedge reserve. The foreign currency translation adjustment contains the translation difference arising from remeasurement of equity as against first-time consolidation. This item also includes differences from foreign currency translation in asset and liability items as against the previous year's translation and translation differences between the consolidated statement of financial position and the consolidated income statement.

The change in the hedge reserve results from the remeasurement of currency forwards and interest rate swaps under IFRS 9, taking into account tax effects.

Measurement differences from callable non-controlling interests are recognized in other comprehensive income.

Details of reserves can be found in the "Statement of changes in consolidated equity".

PROPOSAL FOR THE APPROPRIATION OF PROFITS

The 29th Annual General Meeting of Rosenbauer International AG approved the proposed dividend for the 2020 financial year of € 1.5 per share on May 26, 2021.

The proposal for the appropriation of profits for 2021 is based on the separate financial statements of the company prepared in accordance with the provisions of the UGB (Austrian Commercial Code). The appropriation of the net retained profits for 2021 in the annual financial statements of Rosenbauer International AG according to the UGB is as follows:

in € thousand	2020	2021
Accumulated profit of Rosenbauer International AG	10,350	6,271
Dividends paid out or proposed	10,200	6,120
Carry forward	150	151

The Executive Board proposes to the Annual General Meeting that a dividend of € 0.9 per share for 6,800,000 no-par value shares be paid for the 2021 financial year, resulting in a distribution of € 6,120,000.00.

D10. NON-CONTROLLING INTERESTS

The following table shows the summarized financial information for each subsidiary of the Group with significant non-controlling interests before inter-company eliminations.

	Puttable non-controlling interests
2021 (in T€)	Rosenbauer America, LLC.,	Rosenbauer Minnesota, LLC.	Rosenbauer South Dakota, LLC.	Rosenbauer Motors, LLC.	Rosenbauer Aerials, LLC.	Total
	USA,	USA,	USA,	USA,	USA,
Based in	South Dakota	Minnesota	South Dakota	Minnesota	Nebraska
Shareholding (= share of voting rights) of interests
held by parent company	50.00%	50.00%	50.00%	50.00%	25.00%
Shareholding (= share of voting rights) of non controlling interests	50.00%	50.00%	50.00%	50.00%	25.00%
Current assets	1,080	81,358	69,352	31,756	10,694	194,239
Non-current assets	59,595	6,954	5,210	1,662	651	74,073
Current liabilities	5,987	75,310	32,310	32,461	2,839	148,908
Non-current liabilities	0	0	0	0	0	0
consolidation	–26,453	–167	–31,398	2,599	–1,147	–56,566
Consolidated Net assets (100%)	28,235	12,835	10,854	3,556	7,359	62,839
Consolidated proportionate net assets	14,117	6,418	5,427	1,778	1,840	29,580
Revenues	0	118,182	144,987	55,597	14,199
Net profit for the period (100%)	–4,259	5,918	11,124	902	1,206	14,891
thereof non-controlling interests	–2,130	2,959	5,562	451	302	7,144
Other comprehensive income (100%)	–1,984	3,071	2,995	114	499	4,695
thereof non-controlling interests	–992	1,535	1,497	57	125	2,223
Total comprehensive income (100%)	–6,243	8,989	14,119	1,016	1,705	19,585
thereof non-controlling interests	–3,121	4,495	7,059	508	426	9,367
Dividends paid to non-controlling interests	–5,287	0	0	0	0	–5,287
Net cash flow from operating activities	–1,541	3,143	14,542	8,655	4,406	29,205
Net cash flow from investing activities	–3,313	–2,786	–259	–439	–275	–7,071
Net cash flow from financing activities	4,655	–893	–4,332	–8,015	–2,314	–10,899
Total net cash flows (100%)	–199	–536	9,952	201	1,816	11,235

	Non-controlling interests
Total	Immaterial non-controlling interests	Rosenbauer d.o.o. Slowenien	Rosenbauer Saudi Arabia Ltd.	Rosenbauer Española S.A.	Rosenbauer Aerials, LLC.
		Slovenia, Radgona	Saudi Arabia, Riad	Spain, Madrid	USA, Nebraska
		90.00%	75.00%	62.11%	0.00%
		10.00%	25.00%	37.89%	50.00%
59,646	1,842	9,287	23,546	14,278	10,694
21,737	90	9,232	7,848	3,915	651
49,482	1,900	6,018	25,791	12,934	2,839
4,106	0	1,161	1,341	1,604	0
–1,147	0	0	0	0	–1,147
26,648	32	11,340	4,262	3,655	7,359
7,284	20	1,134	1,066	1,385	3,680
	2,348	25,635	19,907	15,607	14,199
2,037	–8	1,061	–143	–79	1,206
639	–5	106	–36	–30	603
729	–66	–6	302	0	499
308	–16	–1	75	0	249
2,685	–74	1,055	79	–79	1,705
927	–20	105	20	–30	852
–1,354	0	–70	0	–48	–1,236
10,892	–235	4,342	1,325	1,054	4,406
–3,926	–2	–1,845	–1,185	–619	–275
–4,361	–2	–1,142	–230	–673	–2,314
2,605	–239	1,355	–90	–238	1,816

	Puttable non-controlling interests
2020 (in T€)	Rosenbauer America, LLC.,	Rosenbauer Minnesota, LLC.	Rosenbauer South Dakota, LLC.	Rosenbauer Motors, LLC.	Rosenbauer Aerials, LLC.	Total
	USA,	USA,	USA,	USA,	USA,
Based in	South Dakota	Minnesota	South Dakota	Minnesota	Nebraska
Shareholding (= share of voting rights) of interests held by parent company	50.00%	50.00%	50.00%	50.00%	25.00%
Shareholding (= share of voting rights) of non controlling interests	50.00%	50.00%	50.00%	50.00%	25.00%
Current assets	528	73,014	82,429	24,030	10,383	190,384
Non-current assets	51,982	4,643	5,150	1,726	502	64,003
Current liabilities	2,837	64,123	51,363	21,921	1,913	142,157
Non-current liabilities	0	2,471	3,036	1,904	0	7,411
consolidation	–4,364	–7,217	–36,446	610	–1,918	–49,336
Consolidated Net assets (100%)	45,309	3,845	–3,265	2,540	7,054	55,483
Consolidated proportionate
net assets	22,655	1,923	–1,633	1,270	1,763	25,978
Revenues	0	144,089	138,720	70,772	18,994	372,575
Net profit for the period (100%)	–1,949	5,078	8,173	3,919	5,151	20,372
thereof non-controlling
interests	–975	2,539	4,086	1,960	1,288	8,898
Other comprehensive income (100%)	–4,534	–1,232	–3,487	–228	–1,006	–10,487
thereof non-controlling interests	–2,267	–616	–1,744	–114	–252	–4,992
Total comprehensive income (100%)	–6,483	3,846	4,686	3,691	4,145	9,885
thereof non-controlling interests	–3,242	1,923	2,343	1,846	1,036	3,906
Dividends paid to non-controlling interests	–4,513	0	0	0	–445	–4,958
Net cash flow from operating activities	–1,897	296	3,997	7,502	2,668	12,566
Net cash flow from investing activities	–10	–961	–465	–392	–42	–1,870
Net cash flow from financing activities	1,892	1,196	–2,166	–6,149	–2,646	–7,872
Total net cash flows (100%)	–15	531	1,367	962	–20	2,824

	Non-controlling interests
Total	Immaterial non-controlling interests	Rosenbauer d.o.o. Slowenien	Rosenbauer Saudi Arabia Ltd.	Rosenbauer Española S.A.	Rosenbauer Aerials, LLC.
		Slovenia, Radgona	Saud Arabia, Riad	Spain, Madrid	USA, Nebraska
		90.00%	75.00%	62.11%	0.00%
		10.00%	25.00%	37.89%	50.00%
45,044	2,191	6,632	19,259	6,578	10,383
18,869	85	7,868	7,133	3,280	502
30,476	2,221 0	2,223 1,292	20,890 1,338	3,228 2,777	1,913 0
–1,862	56	0	0	0	–1,918
26,168	111	10,986	4,164	3,853	7,054
	41	1,099	1,041	1,460	3,527
	5,441	35,313	20,616	14,628	18,994
	45	3,001	1,162	253	5,151
	10	300	290	96	2,576
	–33	–3	–371	0	–1,006
	–9	–0	–93	0	–503
	12	2,998	79	253	4,146
	1	300	20	96	2,073
	–9	0	0	–78	–891
	105	2,104	–704	–1,032	2,668
	–23	–1,916	–717	–14	–42
–3,612	–64	–5	238	–1,135	–2,646
–3,183	18	184	–1,183	–2,182	–20

Although the Group holds less than half the voting rights in Rosenbauer Aerials, it controls this company on account of Rosenbauer International AG's right to cast the deciding vote. In accordance with the company agreements of these companies, Rosenbauer International AG is authorized to elect half of their Board members. The Board makes all relevant decisions and determines operational management. A simple majority is sufficient for this. In the event of a tied vote in the Board, the Chairman of the Supervisory Board of Rosenbauer International AG, or the Deputy Chairman, has a contractual right to cast the deciding vote.

€ 6,641 thousand was distributed to non-controlling interests in subsidiaries in 2021 (2020: € 5,936 thousand).

D11. NON-CURRENT INTEREST-BEARING LIABILITIES

This item includes all interest-bearing liabilities to banks and lease liabilities with a remaining term of more than one year. Details can be found in the list of financial liabilities under note D37. "Risk management".

D12. OTHER NON-CURRENT LIABILITIES

The non-current liabilities are export financing liabilities (2021: € 1,210 thousand. 2020: € 1,045 thousand) and other non-current liabilities (2021: € 117 thousand. 2020: € 991 thousand). In the previous year, other non-current liabilities included € 435 thousand arising from the acquisition of minority interests from a former partner of the American company Rosenbauer Motors LLC., Minnesota, US, in November 2019. These non-current liabilities and the current liabilities from this acquisition were paid in full at a total of € 781 thousand in 2021.

D13. NON-CURRENT PROVISIONS

a) Settlement provisions

Settlement refers to one-time severance payments that, owing to the provisions of labor law, must be paid on termination of employees and usually when employees retire. The amount is based on the number of years in service and the amount of remuneration. Provisions for settlement are recognized in the amount determined in line with actuarial principles (for details of the assumptions used in calculation please see note C9.).

in € thousand	2020	2021
Net present value of obligation as of Jan 1	23,888	20,871
Reclassification	663	740
Current service cost	1,232	990
Interest cost	166	156
Remeasurement	-3,921	-680
Current payments	-1,157	-1,915
Net present value of obligation as of Dec 31	20,871	20,163

Settlement refers to one-time severance payments that, owing to the provisions of labor law, must be paid on termination of employees and usually when employees retire. The amount is based on the number of years in service and the amount of remuneration. Provisions for settlement are recognized in the amount determined in line with actuarial principles (for details of the assumptions used in calculation please see note C9.).

Remeasurement includes € 58 thousand (2020: € -1,238 thousand) due to experience adjustments, € -636 thousand (2020: € -2,684 thousand) due to changes in financial assumptions and € -102 thousand (2020: € 2 thousand) for changes in demographic assumptions.

The present value of the defined benefit obligation for the current financial year is € 20,163 thousand (2020: € 20,871 thousand). Experience adjustments of 0.3% (2020: -6.0%) were taken into account in the calculation. The net expenses for severance payments arising from commitments and settlement losses break down as follows:

in € thousand	2020	2021
Staff costs
Current service cost	1,232	990
Interest expenses
Interest cost	166	156
Net settlement expenses	1,398	1,146

The change in the interest rate is due to a reassessment on account of the changing economic situation.

The average term of the defined benefit obligation for settlement as of December 31, 2021 was 11 years (2020: 12 years).

The sensitivity analysis for settlement obligations below shows the effects on obligations resulting from changes in key actuarial assumptions. In each case one key factor has been changed while the others were kept constant. However, in reality it is somewhat unlikely that there would be no correlation between these factors.

Change in net present value of obligation in € thousand	+1%	-1%
Dec. 31, 2021
Interest rate	-1,904	2,258
Pay increase	2,171	-1,874
Longevity	-910	34
Dec. 31, 2020
Interest rate	-2,105	2,513
Pay increase	2,411	-2,067
Longevity	-1,038	33

b) Provisions for pensions

Within the Rosenbauer Group there are pension schemes that arose on the basis of national legislation or voluntary agreements. These include both defined benefit and defined contribution plans (for details of the assumptions used in calculation please see note C9.).

in € thousand	2020	2021
Net present value of obligation as of Jan 1	5,978	5,489
Current service cost	23	20
Interest cost	41	43
Recognized actuarial profits	-122	0
Remeasurement	-140	-258
Current payments	-291	-287
Net present value of obligation as of Dec 31	5,489	5,006

Remeasurement includes € -80 thousand (2020: € -671 thousand) due to experience adjustments, € -178 thousand (2020: € 531 thousand) due to changes in financial assumptions and € 0.0 thousand (2020: € 0.0 thousand) for changes in demographic assumptions.

The present value of the defined benefit obligation for the current financial year is € 5,006 thousand (2020: € 5,489 thousand). Experience adjustments of -1.6% (2020: 12.2%) were taken into account in the calculation. The net expenses for pensions arising from commitments broke down as follows:

in € thousand	2020	2021
Staff cost
Current service cost	23	20
Recognized actuarial profits	-122	0
Interest expenses
Interest cost	41	43
Net pension expenses	-58	62

The change in the interest rate is due to a reassessment on account of the changing economic situation.

The average term of the defined benefit obligation for settlement as of December 31, 2021 was 12 years (2020: 12 years).

The sensitivity analysis for pension obligations below shows the effects on obligations resulting from changes in key actuarial assumptions. In each case one key factor has been changed while the others were kept constant. However, in reality it is somewhat unlikely that there would be no correlation between these factors.

Change in net present value of obligation in € thousand	+1%/year	-1%/year
Dec. 31, 2021
Interest rate	-525	639
Pay increase	568	-483
Longevity	245	-240

Dec. 31, 2020 Interest rate -605 742 Pay increase 651 -550 Longevity 272 -266

Further information on staff provisions can be found in the description of accounting policies.

c) Miscellaneous non-current provisions

Dec. 31, 2020	Dec. 31, 2021
7,733	7,196
7,733	7,196

Details of the changes in the non-current provisions listed under note c) for 2021 and 2020 can be found in the "Statement of changes in provisions".

D14. CALLABLE NON-CONTROLLING INTERESTS

This item contains the options to sell held by the US minority shareholders of the US holding company Rosenbauer America LLC., South Dakota, which can be exercised at any time. The value is calculated from the present value of the payment obligation from a purchase price formula, which takes into account the earnings values of two past and one future year, and the equity value.

in € thousand	2020	2021
Net present value of obligation as of Jan 1	53,290	55,370
Dividend payment	-4,958	-5,287
Remeasurement	7,038	17,491
Net present value of obligation as of Dec 31	55,370	67,574

D15. CURRENT INTEREST-BEARING LIABILITIES

In addition to production or investment loans and lease liabilities, these also include overdrafts as of December 31 of the respective year. Details can be found in the list of financial liabilities under note D37. "Risk management".

D16. CONTRACT LIABILITIES

The contract liabilities include payments from the customer in the amount of € 116,278 thousand (2020: € 118,151 thousand), most of which were made for the delivery of firefighting vehicles, as well as accrued revenues from multiple-component arrangements in the amount of € 14,320 thousand (2020: € 17,350 thousand), relating to performance obligations over time.

D17. TRADE PAYABLES

The trade payables of € 63,894 thousand (2020: € 49,092 thousand) are due within one year and of € 0 thousand (2020: € 393 thousand) are due after one year.

D18. OTHER CURRENT LIABILITIES

in € thousand	Dec. 31, 2020	Dec. 31, 2021
Liabilities from taxes	5,697	9,103
Social security liabilities	4,108	2,901
Liabilities from derivatives	534	3,061
Liabilities from staff obligations	31,467	31,467
Liabilities from commission obligations	5,463	6,389
Other liabilities	24,703	18,086
	71,972	71,007

The Other liabilities essentially include credit notes and liabilities from outstanding invoices.

D19. PROVISIONS FOR TAXES

Provisions for taxes increased from € 7,874 thousand to € 9,438 thousand due primarily to the threat of tax liabilities resulting from a German tax investigation against the former owner and managing director of Rosenbauer Brandschutz Deutschland GmbH. Please see note C15. for information on the matter and the estimation uncertainty. The claims of € 3,388 thousand announced by the tax authority were recognized in the results in full. a credit balance of € 500 thousand was allocated to the liability, leaving € 2,888 thousand as a tax provision. There are various possibilities for recourse, which are being utilized extensively. However, an asset for the possibilities for recourse could not be recognized under IFRS.

D20. OTHER PROVISIONS

Other provisions include warranties and sales risks. Miscellaneous current provisions for 2021 are shown in the "Statement of changes in provisions". Details of the assumptions used in calculation can be found under notes C10. and C15.

D21. REVENUES

The table below shows the breakdown of revenues according to product groups and areas:

Areas
CEEU	NISA	MENA	APAC	NOMA	PFP	Total
252,400	67,813	91,137	97,290	231,915	0	740,555
55,338	9,057	14,431	9,462	275	0	88,563
68	7	0	0	0	29,755	29,830
36,951	14,423	14,877	6,702	5,472	0	78,424
2,083	1,910	3,268	3,690	26,788	0	37,738
						975,110
				2021 346,839 93,210 123,713 117,143	264,451	29,755

			2020
Areas
CEEU	NISA	MENA	APAC	NOMA	PFP	Total
261,957	89,412	121,360	107,646	236,435	0	816,810
56,354	9,651	11,306	8,680	278	0	86,269
347					28,708	29,055
34,984	11,988	13,082	6,510	5,648	0	72,212
9,298	3,412	4,371	4,191	18,555		39,827
362,940	114,463	150,119	127,027	260,916	28,708	1,044,173

Please see the disclosures on the product segments and the segment reporting under note D35. "Segment reporting" for information on the composition of revenues.

The aggregated amount of the transaction price for not yet fulfilled performance obligations amounted to € 1,145.2 million (2020: € 1,072.1 million) at the end of the reporting period. Of this, 78% (2020: 87%) is expected to be recognized as revenues in the following financial year.

D22. COST OF SALES

in € thousand	2020	2021
Other income	-224	-2,887
Change in inventory of finished goods and work in progress	31,370	17,871
Costs of goods sold	587,460	547,768
Staff costs	171,399	171,466
Depreciation and amortization	11,934	13,690
Other expenses	62,027	70,738
	863,967	818,646

In addition to raw materials and supplies, the cost of materials mainly relates to chassis, metal components for vehicle bodies, plastic and electronic parts, as well as equipment and purchased parts.

The cost of purchased services mainly includes lease expenses for leased personnel in the operating area, energy costs and waste disposal costs.

D23. DEVELOPMENT AND PRODUCT MANAGEMENT

in € thousand	2020	2021
Change in inventory of finished goods and work in progress	10	229
Capitalized development costs	-6,551	-8,911
Costs of goods sold	-4,926	-4,898
Staff costs	18,526	19,146
Depreciation and amortization	3,463	3,769
Other expenses	5,233	6,045
	15,754	15,381

D24. SELLING COSTS

in € thousand	2020	2021
Other income	-71	-229
Change in inventory of finished goods and work in progress	2	32
Costs of goods sold	3,771	4,627
Staff costs	29,208	32,752
Depreciation and amortization	1,544	1,809
other expenses	26,681	23,694
	61,135	62,685

The other expenses item mainly includes event costs, travel expenses and costs of the marketing and sales department.

D25. ADMINISTRATION COSTS

in € thousand	2020	2021
Other income	128	-29
Change in inventory of finished goods and work in progress	-3	17
Costs of goods sold	6,480	6,231
Staff costs	31,909	32,223
Depreciation and amortization	10,030	9,442
Other expenses	1,862	3,167
	50,408	51,051

The other expenses item mainly includes maintenance costs, legal, auditing and consulting costs, costs of third-party services, and rent and leases. Expenses from leases of low-value assets amount to € 626 thousand (2020: € 479 thousand), and expenses from short-term leases not including low-value assets amount to € 202 thousand (2020: € 545 thousand).

Auditor's fees

Administrative expenses include the following expenses for services provided by the auditor of the consolidated financial statements, KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft:

in € thousand	2020	2021
Audit of group and local accounts	103	110
Other audit related services	0	18
Other services	0	35
	103	163

D26. OTHER INCOME

in € thousand	2020	2021
Income from the disposal of property, plant and equipment and
intangible assets	257	612
Government grants	961	940
Income from rent and insurance	1,006	408
Reversal of write-downs of provisions	628	1,267
Exchange rate gains	565	2,071
Sundry	3,086	3,718
	6,502	9,016

Government grants primarily relate to grants for employment programs such as partial retirement, trainee bonuses and COVID-19 subsidies.

In particular, other income includes license proceeds, canteens, hospitality and compensation.

D27. OTHER EXPENSES

in € thousand	2020	2021
Losses from the disposal of property, plant and equipment and
intangible assets	662	255
Exchange rate losses	1,022	1,083
Other expenses	25	-1
	1,708	1,337

D28. STAFF COSTS AND EMPLOYEE DISCLOSURES

in € thousand	2020	2021
Wages	98,967	97,743
Salaries	103,114	111,760
Pension costs	1,255	1,010
Expenses for defined contribution plans	6,622	7,077
Expenses for statutory and voluntary social security contributions and levies and mandatory contributions dependent on pay	41,085	37,999
	251,043	255,588

Average number of employees

	3,920	4,041
Apprentices	142	140
Salaried employees	1,464	1,595
Workers	2,314	2,306
	2020	2021

Expenses for defined contribution plans include expenses for benefits to company pension funds in the amount of € 1,166 thousand (2020: € 1,056 thousand).

D29. DEPRECIATION AND AMORTIZATION EXPENSE ON PROPERTY, PLANT AND EQUIPMENT AND INTANGIBLE ASSETS

Depreciation and amortization of € 28,802 thousand (previous year: € 26,971 thousand) includes € 6,075 thousand (previous year: € 6,043 thousand) from the amortization of right-of-use assets arising from leases in accordance with IFRS 16.

D30. FINANCIAL INCOME

in € thousand	2020	2021
Income from securities	0	2
Other interest and similar income	738	614
thereof from FX-profits	407	406
	738	616

D31. FINANCE EXPENSES

in € thousand	2020	2021
Interest and similar expenses	6,365	5,957
thereof from leases in accordance with IFRS 16	977	924
thereof from FX-losses	506	39
Interest on non-current staff provisions	207	199
	6,572	6,156

The interest expense for long-term anniversary provisions is reported in staff costs.

D32. INCOME TAX

in € thousand	2020	2021
Income taxes	11,477	10,821
thereof previous year	276	2,214
Change in deferred income taxes	-1,171	-5,167
thereof due to changes in tax rates	59	43
	10,306	5,655

In the 2021 financial year, € 1,169 thousand (2020: € -3,372 thousand) from the change in deferred taxes was recognized directly in other comprehensive income.

In the RBI Group, there is a tax group in accordance with Austrian tax law. The parent company is Rosenbauer International AG. The group members are the Austrian companies Rosenbauer Österreich GmbH, Rosenbauer Brandschutz GmbH, APAC-Holding GmbH and Rosenbauer E-Technology Development GmbH. The compensation takes place via an allocation agreement in which positive tax results are offset at a rate of 25%. a negative tax allocation is kept on record for the purpose of future offsetting. Income tax income for all group members amounts to € 4,218 thousand (2020: income tax expenses of € 2,739 thousand).

The table below shows the causes of the difference between the national income tax expense and the effective tax expense in the Group.

in € thousand	2020	2021
Profit before income taxes	51,281	28,871
thereof 25% (2020: 25%) national income tax expense	12,820	7,218
Tax relief from partnerships1	-2,234	-1,475
Effect of different tax rates	-694	-1,575
Permanent differences	-1	-177
Non-recognition of carryforwards	104	0
Taxes from previous years	276	2,214
Other	34	-550
Effective tax income (–)/expense (+)	10,306	5,655

1 Taxes relating to non-controlling interests

The taxes from previous years include € 3,388 thousand from a tax investigation. Please see note C15. for details. Shareholders' claims to dividends did not give rise to any tax consequences for the Group in 2021 or 2020.

D33. CONSOLIDATED STATEMENT OF CASH FLOWS

The consolidated statement of cash flows is presented using the indirect method. Cash and cash equivalents consist exclusively of cash in hand and bank balances. Interest received and paid are assigned to operating activities. Dividend payments are reported under financing activities. There were non-cash additions to intangible assets and property, plant and equipment of € 2,079 thousand (2020: € 28 thousand) in the 2021 financial year. Non-cash additions to right-of-use assets amounted to € 8,313 thousand in 2021 (2020: € 1,120 thousand).

The reconciliation of cash and non-cash changes in liabilities from financing activities is as follows:

in € thousand	Dec. 31, 2021	Cash flow	Exchange rate changes	Accured interest	Non-cash change	Dec. 31, 2020
Current interest-bearing financial liabilities	72,505	15,564	539	0	0	56,401
Non-current interest-bearing financial liabilities	161,082	-59,241	604	0	0	219,719
Lease liabilities	36,115	-6,012	814	924	7,390	32,999
Liabilities from callable non-controlling interests	67,574	-5,287	0	0	17,491	55,370
Liabilities from the acquisition of non-controlling interests	0	-781	29	0	0	753
Total liabilities from financing activities	337,276	-55,757	1,986	924	24,881	365,242
in € thousand	Dec. 31, 2020	Cash flow	Exchange rate changes	Accured interest	Non-cash change	2019
Current interest-bearing financial liabilities	56,401	-75,459	-9,323	0	0	141,183
Non-current interest-bearing financial liabilities	219,719	6,171	-1,401	0	0	214,948
Lease liabilities	32,999	-6,108	143	977	0	Dec. 31, 37,986
Liabilities from callable non-controlling interests	55,370	-4,958	0	0	7,038	53,290
Liabilities from the acquisition of non-controlling interests	753	-280	-42	0	0	1,075

Further details on liabilities arising from the acquisition of non-controlling interests can be found in note B1.

The total payments from leases included in the statement of financial position in accordance with IFRS 16 amounted to € 6,012 thousand (2020: € 5,723 thousand) in the financial year.

D34. EFFECTS OF THE COVID-19 CRISIS ON THE GROUP'S NET ASSETS, FINANCIAL POSITION AND RESULTS OF OPERATIONS

Rosenbauer's business performance lags behind the economic cycle, so it took a while for the COVID-19 crisis to make an impact. In 2021, the negative effects particularly related to the disruption in the supply chains and the underutilization of plants due to delays in deliveries. Due to the shifts in revenues and the disruptions to production, operating performance and the earnings situation fell short of expectations. Through adjustments of the production program, the use of short-time working and other measures to safeguard jobs, and not least active working-capital management, the management kept the negative effects on stakeholders – especially customers, owners and employees – at a minimum. However, it was impossible to avoid delayed revenue recognition, chiefly due to a shortage of materials. The supply of parts proved particularly difficult in 2021 and led to inefficiencies in production management. Especially in light of the war in Ukraine, no improvement in the situation is in sight.

It is positive, however, that the order intake was at a satisfying level in 2021. demand has not yet suffered from the ongoing crises. Nonetheless, earnings pressure has grown due to rising material prices, as the necessary price increases are not easy to implement given the competitive situation.

However, the business model is expected to recover at least in the medium term, and Rosenbauer is particularly well equipped for the future thanks to its advanced technology.

It is therefore not necessary to recognize impairment losses, write-downs or provisions in the annual financial statements as a result of the COVID-19 or Ukraine crises, and all hedging relationships have remained effective.

The aid programs launched by governments were helpful in cushioning the negative impact on the Group's net assets, financial position and results of operations. In particular, the option of short-time working and other measures to safeguard jobs prevented significant short-term as well as long-term negative effects by avoiding order-related redundancies.

Subsidies recognised in profit and loss in € thousand	2020	2021
Other income	267	58
Wages	3,252	8,973
Salaries	1,950	951
Expenses for statutory social security contributions and levies and mandatory contributions dependent on pay	178	0
Administration costs	8	0
Total	5,655	9,982

The main grants recognized in income were paid out as part of measures to safeguard jobs. Other income relates to various aid programs to cover different costs, particularly fixed costs.

Subsidies not recognised in profit and loss in € thousand	2020	2021
Interest bearing liabilities	8,420	0
Property, plant and equipment	0	-679
Other liabilities	91	0
Total	8,511	-679

The financial liabilities affecting cash but not profit or loss relate to government subsidized liquidity aid, which were paid out in 2020, enacted in 2021, and posted as a reduction of wage costs. Other liabilities of the previous year and the reduction in property, plant and equipment relate to subsidies in connection with investments.

In addition, extensive cost-reducing and liquidity-securing measures were taken, including taking up additional lines, increased working capital management, a temporary borrowing freeze, and vacation and compensatory time reduction programs. Accompanying tax measures were utilized, including interest-free tax deferrals or the deferral of tax due dates.

However, the measures and aid programs were not sufficient to fully offset the negative effects of the pandemic. Nevertheless, despite the challenging times, the income and liquidity situation were always stable and unobjectionable, which underscores the strength of Rosenbauer's business model.

D35. SEGMENT REPORTING

In accordance with IFRS 8 ("Operating Segments"), segments must be defined and segment information disclosed on the basis of internal controlling and reporting. This results in segment reporting presented in line with the management approach of internal reporting. The Group is managed by the chief operating decision makers on the basis of sales markets. The development of the market segments is particularly significant in internal reporting. Segmentation is based on the division of the sales regions (areas) defined by the chief operating decision makers. In addition to the segments managed by sales markets (areas), the PFP (Preventive Fire Protection) segment is shown as a further segment in internal reporting.

The following reportable segments have been defined in line with the internal management information system:

The CEEU area (Central and Eastern Europe), the NISA area (Northern Europe, Iberia, South America, Africa), the MENA area (Middle East, North Africa), the APAC area (Asia-Pacific, Australia, China), the NOMA area (North and Middle America) and PFP (Preventive Fire Protection).

The chief operating decision makers monitor the EBIT of the areas separately in order to make decisions on the allocation of resources and to determine the units' earnings power. Segment performance is assessed on the basis of EBIT using the same definition as in the consolidated financial statements. However, income taxes are managed on a uniform Group basis and are not allocated to the individual segments.

Segment reporting refers to the revenues and earnings generated by the individual areas both on their respective local markets and from export sales.

Segment figures have been presented in the tables "Business", and "Disclosures on business units" and "Information on geographic areas" for 2020 and 2021.

D36. CAPITAL MANAGEMENT

The capital provided by equity and borrowed capital is taken as the basis for capital management in the Rosenbauer Group.

The financial strategy is designed to support and promote the strategic and operational development of the company. The aim is to strike a balance between profitability, liquidity and security. Financial and strategic flexibility must be maintained by ensuring access to capital and advantageous financing conditions at all times. Sufficient financial strength should enable both operating business and investment projects. The interests of shareholders and lenders are taken into account in the form of an attractive dividend policy, a stable corporate credit rating and the reliability and continuity of results and corporate statements. The financial strategy is an integral part of our business understanding and actions and forms the basis of all major planning and decision-making processes.

The key financial figures for capital management are the ratio of net debt to EBITDA and the equity ratio. EBITDA stands for earnings before interest, taxes, depreciation and amortization. Net debt comprises interest-bearing liabilities and lease liabilities less cash, cash equivalents and securities. Net debt therefore amounts to € 203,597 thousand (2020: € 289,345 thousand). EBITDA in 2021 amounted to € 63,735 thousand (2020: € 84,672 thousand). The ratio of net debt to EBITDA is therefore 3.2 (2020: 3.4).

In the case of liabilities from callable non-controlling interests, the business opportunities and risks and the dividend claim remain with the minority shareholder, so the liability is still economically a minority interest and not an interest-bearing purchase price liability.

When put options are exercised, the purchase prices can be financed easily and cost-effectively. there are already lines available for the part under negotiation.

Furthermore, the equity ratio is optimized with total assets management, which ensures the optimization of restricted current assets with the continuous monitoring of production levels and trade receivables. The equity ratio is calculated as the percentage of equity to total assets and was 25.2% as of December 31, 2021 (as of December 31, 2020: 24.9%).

D37. RISK MANAGEMENT

Rosenbauer is exposed to various risks in its business activities. Apart from the global crises (D29.) and the disclosed tax investigation (C15.), the annual evaluation of the Group companies did not reveal significant new or previously unrecognized risks. On the basis of the information currently known, there are no specific risks to the future of the company as a going concern. The Rosenbauer Group operates globally and is therefore necessarily exposed to changes and fluctuations in inflation, interest rates and exchange rates. It is company policy, by closely observing the risk positions that exist and market developments, to balance risks internally as far as possible, to manage net positions with a view to optimizing earnings and, where reasonable, to hedge such positions. The goal of currency risk hedging is to create a secure basis of calculation for construction contracts.

A key area in hedging risks is financial instruments. Financial instruments are contracts that give rise to both a financial asset of one entity and a financial liability or equity instrument of another entity. In accordance with IFRS 7, they include on the one hand primary financial instruments such as trade receivables and payables and financial receivables and liabilities. On the other, they also included derivative financial instruments used to hedge the risks of changes in exchange and interest rates. Both primary and derivative financial instruments are reported on below.

Regular way purchases and sales of financial assets are recognized as of the settlement date, i.e. the date on which the company commits to purchasing the asset.

Given the daily or short-term maturities, the fair value of cash and cash equivalents and short-term investments, current receivables and liabilities is essentially the carrying amount. At the end of the reporting period securities were measured with a fair value of € 655 thousand (2020: € 760 thousand). The fair value is calculated from the market price at the end of the reporting period.

a) Climate and environmental risks

Climate change is also steadily growing in significance in the firefighting industry, so the Rosenbauer Group has been tackling this issue for many years in order to ensure a timely, solid and effective response to these risks.

The most immediate risk at present is the transition risk arising from the process of adaptation to a lower-carbon and more ecologically sustainable economy. Rosenbauer responded to the adaptation process around seven years ago and began developing the first hybrid firefighting vehicle, presenting it to the public in 2020. The vehicle has been very positively received by the market and is currently being transferred to series production. However, this novel vehicle is probably just the beginning of an extensive adaptation of the product range to the new requirements, so research and development costs are expected to remain high. As of the end of the reporting period, development costs of € 14,043 thousand (2020: € 8,705 thousand) were capitalized in direct connection with this transformation of the product range, and development costs will continue to rise. The risk lies in the realization of development costs on the market, as these development costs also increase the products' production costs. The market is currently accepting of a higher price, particularly because the products developed so far offer significantly increased efficiency and convenience for fire services. Because of the higher costs, however, there remains a higher risk of undesirable developments and write-downs of development costs in the future.

Besides the development costs, rising costs from energy and material purchases are also to be expected, for example due to CO² pricing or sustainable production processes. There is a risk here that these regulations do not develop symmetrically in the various markets, so competitors in less regulated markets could enjoy a cost advantage.

The physical risk of climate change, i.e. the effects of physical events such as droughts, floods, storms, etc., has various consequences for Rosenbauer. On the one hand, the locations are of course exposed to an elevated risk (such as water scarcity, extreme weather, heat, etc.), and supply chains can be negative affected by such events. On the other hand, Rosenbauer offers products and technologies to counter this risk and can do a lot to mitigate these effects. This not only involves the provision of first-class equipment for disaster response, such as in the event of forest fires, floods or storms, but also the prevention of such extreme situations. For Rosenbauer, prevention comes before de-escalation. Early detection plays a key role here – the product portfolio is being expanded and investments made in software solutions. There is a financial risk that these cost will not be realized on the market.

Climate and environmental risks are not currently affecting the measurement of assets and liabilities.

b) Credit risk

The risk on receivables can be rated as consistently low on account of the customer structure and the hedging policy for credit risks. In addition, all customers that wish to do business with the Group on a credit basis are subject to a credit check. Receivables are also monitored on an ongoing basis with the result that the Group is not exposed to a significant risk of default. The maximum credit risk and therefore risk of default is equal to the carrying amounts.

The table below shows the credit risk for the Group's financial assets:

	Dec. 31, 2021
in € thousand	12-month ECL or lifetime ECL	Gross carrying amount	Impairment	Net carrying amount
Securities	n/a	655	0	655
Other financial assets	12m ECL	14,720	0	14,720
Trade receivables	Lifetime ECL	132,930	-2,932	129,998
With credit impairment	Lifetime ECL	12,687	-2,594	10,093
Without credit impairment	Lifetime ECL	120,243	-338	119,905
Cash and cash equivalents	12m ECL	65,450	0	65,450
		213,755	-2,932	210,823

	Dec. 31, 2020
in € thousand	12-month ECL or lifetime ECL	Gross carrying amount	Impairment	Net carrying amount
Securities	n/a	760	0	760
Other financial assets	12m ECL	22,733	0	22,733
Trade receivables	Lifetime ECL	190,322	-2,267	188,055
With credit impairment	Lifetime ECL	1,918	-1,490	429
Without credit impairment	Lifetime ECL	188,404	-777	187,627
Cash and cash equivalents	12m ECL	19,015	0	19,015
		232,830	-2,267	230,564

Within the EU receivables are mostly from municipal legal entities. If receivables relate to private customers of low or unknown credit standing, these receivables are insured through the private insurance market.

Receivables from customers outside the EU of low credit standing – including government customers – are secured with documentary credits or bank guarantees. Alternatively, but also cumulatively, insurance policies can be concluded with one of the government insurance companies. In Austria this is done with Österreichische Kontrollbank AG.

The diagram below shows the Group's calculated credit risk exposure for trade receivables using an impairment matrix:

	Trade receivables
2020 in € thousand	Without credit impairment
	not past due	1 to 90 days past due	91 to 180 days past due	Over 180 days past due	With credit impairment
Estimated total gross carrying amount in the event of past due payment	56,672	40,808	7,463	15,301	12,687
Expected credit losses	38	51	53	196	2,594

Trade receivables
Without credit impairment
not past due	1 to 90 days past due	91 to 180 days past due	Over 180 days past due	With credit impairment
				1,918
				1,490
	68,054 89	80,163 125	13,652 122	26,535 442

c) Market risk

Inflation risk

In the last few decades of low interest rate policies and a threat of deflation, material prices and wage costs were also easy to predict and therefore easy to calculate in project business. Inflation risk as therefore only of subordinate importance. However, this situation changed significantly at the end of 2021. Material prices climbed sharply due to supply chain disruptions, and in 2022 this was joined by volatile and massively increasing energy prices as a result of the war in Ukraine.

As the time between a binding submission of a tender and actual delivery ranges from several months to over a year, there is a risk that the actual price increase will exceed the planned price increase. Rosenbauer responds to these risks with a variety of measures.

In purchasing, chassis are ordered only for specific contracts at fixed prices, so the price risk for chassis can be ruled out. For other materials, an attempt is made to achieve the highest possible price security by means of framework agreements and by coordinating the order times with the production program. Active supplier management and short-term adjustment of delivery schedules also reduce price risk. In addition, price lists are reviewed at short intervals and increased at short notice if a further increase in prices is foreseeable. During 2021, prices were increased three times in order to reduce the negative effects on the Rosenbauer Group.

While the increased material prices were covered by the order backlog as of the reporting date of December 31, 2021, and no significant provisions for onerous contracts were therefore necessary, the increased prices are reflected in a lower earnings forecast for at least 2022. Despite the numerous measures, however, there remains a risk that persistently high inflation and rising prices on the procurement markets will lead to insufficient prices.

Interest rate risk

Interest rate risks mainly apply to liabilities with terms of more than one year.

For assets, interest rate risks apply only to investment securities. Securities were measured at market value at the end of the reporting period. It is possible to reduce interest rate risks and optimize income with the regular monitoring of interest rate developments and the reorganization of securities holdings derived from this.

There are non-current liabilities to banks from loans for various investments in operating activities. However, more prolonged negative changes in market values can cause the result of operations to deteriorate. A change in interest rates of +/-1% on the credit portfolio as of the end of the reporting period would have reduced earnings and equity by € 1,159 thousand (2020: € 992 thousand) and respectively increased earnings and equity by € 908 thousand (2020: € 938 thousand). The sensitivity to current liabilities to banks is negligible.

Globally, the key benchmark rates are being fundamentally reformed, including the replacement of some Interbank Offered Rates (IBORs) with alternative, virtually risk-free interest rates (referred to as "IBOR reform"). The Group's financial instruments are subject to IBORs that will be replaced or reformed as part of these market-wide initiatives. Rosenbauer has already switched its US dollar contracts to the Secured Overnight Financing Rate (SOFR). The EURIBOR will be used as a benchmark rate until further notice. The effects of this are considered immaterial.

Currency risk

Currency risk is the risk that the fair value or future cash flows of a financial instrument may vary due to the change in exchange rates. The Group is particularly exposed to exchange rate risks in the course of its operating activities (if revenue and/or expenses are denominated in a foreign currency). In order to manage its currency risk, the Group hedges all transactions regarding expected sales and purchases that are expected to occur in the next twelve months. If a derivative transaction is concluded for the purposes of the hedge, the Group negotiates the terms of the contract such that the derivative financial instrument is equal to the risk to be hedged. For the hedge of expected transactions, the derivative financial instrument covers the risk period from the date at which cash flows from the transaction are forecast to the date at which the liability or receivable denominated in a foreign currency is settled. The majority of expected foreign currency exposure from the next financial year is hedged with currency forwards.

Group companies invest in non-current securities almost exclusively in their own currency area, hence there is no currency risk here.

In assets, currency risks relate mainly to the US dollar and UAE dirham, resulting from trade receivables from international customers, from previously agreed contracts and future transactions. Most other markets invoice in euro. In liabilities, with the exception of trade payables, there are no significant currency risks as current financing of operating activities is implemented by the Group companies in their own local currency. Any currency risks from short-term peaks are borne by the company themselves. In addition to hedging with derivative financial instruments, there is also natural hedging by the positions closed, for example US dollar trade payables are offset by US dollar receivables.

The table below shows the sensitivity of consolidated earnings before taxes (due to changes in the fair values of monetary assets and liabilities) and the Group's equity (due to changes in the fair values of currency forwards) to a change in exchange rates, considered possible in line with prudent business judgment, affecting the main currencies relevant to the Group. All other variables remain constant.

	Exchange rate	Effect on earnings before taxes		Effect on equity
in € thousand	development	2020	2021	2020	2021
USD	+10%	3,371	2,589	-5,512	-6,469
	-10%	-3,609	-2,871	4,688	5,730
SGD	+10%	7	-8	-248	169
	-10%	-7	8	248	-169
CHF	+10%	-1	-1	-202	-283
	-10%	1	1	202	283
SAR	+10%	5	280	-522	219
	-10%	-383	-412	413	-264
AED	+10%	17	331	63	-36
	-10%	-72	-358	-73	8
GBP	+10%	-70	-150	-157	5
	-10%	54	118	124	-8
RUB	+10%	-66	-50	195	157
	-10%	66	50	-195	-157

Derivative financial instruments (hedges)

There are no derivative financial instruments without a hedging relationship. FX risks are hedged using derivative financial instruments such as FX forwards. These are initially recognized at fair value when the agreement is concluded and subsequently remeasured at fair value.

In accordance with IAS 32, derivative financial instruments are only offset and reported in the statement of financial position as a net amount when there is a legal right to do so and it is intended to settle on a net basis. No offsetting was carried out in 2021 or in the previous year.

In accordance with IFRS 9, derivatives are classified in the following categories:

	Dec. 31, 2021
in € thousand	non-current	current
Derivatives with positive fair values
Derivatives that are mandatorily measured at fair value through profit and loss (receivables and other assets)	0	212
	0	212
	Dec. 31, 2021
in € thousand	non-current	current
Derivatives with negative fair values
Derivatives that are mandatorily measured at fair value through profit and loss (other liabilities)	0	1,149
	0	1,149
	31.12.2020
in € thousand	non-current	current
Derivatives with positive fair values
Derivatives that are mandatorily measured at fair value through profit and loss (receivables and other assets)	0	2,910
	0	2,910
	31.12.2020
in € thousand	non-current	current
Derivatives with negative fair values
Derivatives that are mandatorily measured at fair value through profit and loss (other liabilities)	0	0
	0	0
	Nominal value	Fair value
in € thousand	2021	2021
Currency forwards	32,243	-937
	Nominal value	Fair value
in € thousand	2020	2020
Currency forwards	40,504	2,910

The economic relationship between the hedged item and the hedging instrument is determined by comparing the value-determining risk factors. In the event of complete or approximate consistency of the hedged item's and hedging instrument's significant value-determining risk factors, the critical terms match method is used to provide evidence of the economic relationship. In all other cases, either sensitivity analyses or aspects of the dollar-offset method, depending on the scale of the value-determining risk factors, are used to demonstrate the economic relationship.

Deviations in the value-determining risk factors between the hedged item and the hedging instrument give rise to sources of ineffectiveness. For the hedge of foreign currency risks, deviations in the forward rate between the hypothetical derivative as the hedged item and the hedging instrument (currency forward) present such a source of ineffectiveness. Changes in expected timings for the hedged item's planned cash flows give rise to ineffectiveness. There are no other sources of ineffectiveness.

As the underlying assets of the hedged item and the hedging instrument are always consistent, the accounting hedge ratio is always 1:1, i.e. the hedging instrument's designated amount or volume is equal to the hedged item's designated amount or volume. Adjustments to the accounting hedge ratio are recognized if the hedge ratio has an imbalance that would result in ineffectiveness, with potential consequences for accounting that are incompatible with the purpose of hedge accounting.

In accordance with IFRS 9, derivatives are classified in the following categories:

	31.12.2021
in € thousand	non-current	current	Change in the value of hedging instruments as the basis for calculating ineffectiveness
Derivatives with positive fair values
Cash flow hedge derivatives (receivables and other assets)	145	37	182
Total	145	37	182

31.12.2021

in € thousand	non-current	current	Change in the value of hedging instruments as the basis for calculating ineffectiveness
Derivatives with negative fair values
Cash flow hedge derivatives (other liabilities)	47	1,704	1,751
Total	47	1,704	1,751

		Dec. 31, 2020
in € thousand	non-current	Change in the value of hedging instruments as the current
Derivatives with positive fair values
Cash flow hedge derivatives (receivables and other assets)	13	4,206	4,219
Total	13	4,206	4,219

	Dec. 31, 2020
in € thousand	Change in the value of hedging instruments as the basis for calculating non-current current ineffectiveness
Derivatives with negative fair values
Cash flow hedge derivatives (other liabilities)	42	492	534
Total	42	492	534

2021		Maximum term	Average forward rate	Nominal values in € thousand	Fair value in € thousand
Currency forwards
USD	Sale	Mar. 30, 2023	1.1827	35,235	-1,453
ZAR	Sale	Jan. 31, 2022	19.6655	127	-10
AED	Sale	Jun. 30, 2022	4.4557	1,302	-90
GBP	Sale	Feb. 3, 2022	0.8854	124	-7
SEK	Sale	Nov. 24, 2023	10.0376	23,873	190
SEK	Buy	Feb. 28, 2022	10.0720	546	-10
CAD	Sale	Jun. 7, 2023	1.2645	14,480	22
CAD	Buy	Mar. 11, 2022	1.2892	253	5
NZD	Sale	Sep. 1, 2022	1.6997	1,909	-28
AUD	Sale	Jul. 25, 2022	1.5920	1,726	-30
RON	Sale	Jan. 27, 2022	4.9860	6,318	-33
SAR	Sale	Jan. 31, 2022	4.5038	2,098	-126
				87,989	-1,569

2020		Maximum term	Average forward rate	Nominal values in € thousand	Fair value in € thousand
Currency forwards
USD	Sale	Dec. 30, 2021	1.1375	44,283	3,760
USD	Buy	Jan. 7, 2021	1.2267	2,592	1
ZAR	Sale	Mar. 31, 2021	18.5698	194	-5
AED	Sale	Mar. 31, 2022	4.3275	495	24
HKD	Sale	Jan. 29, 2021	9.2704	669	18
GBP	Sale	Mar. 31, 2021	0.8766	1,643	37
SEK	Sale	Feb. 28, 2022	10.7700	511	-33
CAD	Sale	May. 31, 2022	1.3263	11,833	-422
CAD	Buy	Apr. 14, 2021	1.3181	1,110	32
QAR	Sale	Jun. 24, 2021	4.5020	1,377	-11
AUD	Sale	Dec. 16, 2021	1.6515	1,679	-59
PLN	Sale	Jun. 30, 2021	4.4760	9,976	187
SAR	Sale	Feb. 17, 2021	4.4747	5,518	155
				81,878	3,685

The following items were hedged:

	2021
Risk in € thousand	Change in the value of the hedged item	Reserve status
Foreign currency risk	1,651.0	-1,268.0
Future sales transaction	1,651.0	-1,268.0

	2020
Risk in € thousand	Change in the value of the hedged item	Reserve status
Foreign currency risk	-3,940	2,745
Future sales transaction	-3,940	2,745

Hedging reserve 2021 in € thousand	Currency derivatives
Effective change in value directly in other comprehensive income (OCI)	-1,651.0
Reclassification from the OCI to the income statement	-3,731.7
Of which reclassified to revenues	3,731.7

Hedging reserve 2020 in € thousand	Currency derivatives
Effective change in value directly in other comprehensive income (OCI)	3,940
Reclassification from the OCI to the income statement	5,385
Of which reclassified to revenues	-5,385

The table below shows the change in the hedge reserve:

Foreign currency risk
2020	2021
-4,215	2,745
3,940	-1,651
-1,019	437
5,385	-3,732
-1,346	933
2,745	-1,268

The financial investments available for sale shown in the following table as level 1 include – as in the previous year – listed equities and units in funds. The fair value of currency forwards and interest rate swaps shown as level 2 is determined – as in the previous year – by reference to bank valuations based on recognized mathematical measurement models (discounted cash flow method on the basis of current interest and currency future yields based on interbank mid-rates as of the end of the reporting period). The interest rate hedging relates to the hedging of parts of the promissory note interest.

In 2021 – as in the previous year – there were no reclassifications between level 1 and level 2 or vice versa. There was no change in the measurement method.

	Level 1		Level 2
in € thousand	2020	2021	2020	2021
Derivative financial instruments trough profit and loss
Positive fair value			2,910	212
Negative fair value			0	1,149
Derivative financial instruments through OCI
Positive fair value			4,220	182
Negative fair value			534	1,751
Interest rate hedging transactions
Positive fair value			0	0
Negative fair value			0	161
Investments mandatorily at fair-value through profit and loss
Positive fair value	760	655
Negative fair value

c) Liquidity risk

Liquidity risk is the risk of not being able to settle the liabilities due on time. Liquidity in the Group is determined by means of corresponding monthly rolling liquidity planning and secured by sufficient medium- and long-term credit facilities.

In 2020, a syndicated loan with a volume of € 170.0 million was concluded. an extension of the volume is possible. The term is three years plus an extension option of one year each time. This has optimized the maturity profile and secured the refinancing of existing liabilities.

The promissory note agreements have a nominal volume (= carrying amount) of € 127.5 million (2020: € 150.0 million) and \$ 10 million (2020: \$ 10.0 million) and include an agreement to uphold a financial covenant, which provides for an IFRS consolidated equity ratio of at least 20%. Failure to meet this financial ratio entitles the lender to terminate the respective financing agreement. At the end of the year, the IFRS equity ratio was above the set threshold at 25.2%. The promissory note agreement also includes a step-up agreement, which entitles creditors to demand higher interest rates if targets are not met.

Total interest-bearing financial liabilities amount to € 233,587 thousand (2020: € 276,121 thousand). The average interest rate amounts to 1.5% (2020: 1.3%). The reported carrying amounts are essentially the fair values. As the incidental costs of the financial liabilities shown in the table below with the nominal interest rates are low, the nominal interest rate is the effective interest rate, hence there is no impact on the net assets, financial position or results of operations.

The tables below show the structure of interest-bearing financial liabilities as of December 31, 2021 and the structure of trade payables and other liabilities.

Interest-bearing financial liabilities

in € thousand	Dec. 31, 2020	Dec. 31, 2021
Interest rate agreement and maturity
Fixed, current	45,827	47,238
Fixed, non-current	130,809	68,556
Floating rate, current	10,575	25,267
Floating rate, non-current	88,911	92,526
Total interest-bearing liabilities	276,121	233,587

Currencies

€	259,064	231,001
CHF	3,463	484
AUD	148	0
BND	3	0
SGD	4,044	177
USD	9,362	1,922
ZAR	37	2
	276,121	233,587

Maturity structure

The figures shown in the table below reflect the undiscounted cash flows, hence they may differ from the carrying amounts.

in € thousand	Total	Up to 1 year	1 to 2 years	2 to 5 years	More than 5 years
Interest-bearing liabilities (current and non-current)
2021	233,587	72,505	19,227	141,725	130
2020	276,121	56,402	7,074	166,638	46,007
Trade payables
2021	63,894	63,894	0	0	0
2020	49,485	49,092	393	0	0
Lease liabilities
2021	36,115	5,632	5,406	13,277	11,800
2020	32,999	4,975	3,667	8,670	15,688
Puttable non-controlling interests
2021	67,574	67,574	0	0	0
2020	55,370	55,370	0	0	0
Other liabilities from financial instruments (without derivative liabilities) (current and non-current)
2021	24,592	24,475	117	0	0
2020	30,723	30,167	556	0	0

The fair value of non-current loan liabilities bearing interest at fixed rates is € 68,246 thousand (2020: € 131.031 thousand). The inputs for calculating the fair value of non-current loan liabilities bearing interest at fixed rates are assigned to level 2 of the IFRS 13 fair value hierarchy. The fair value of non-current loan liabilities bearing interest at fixed rates was calculated using a DCF method and a standard discount rate.

The table below shows the undiscounted cash flows from derivative liabilities.

Total	Up to 1 year	1 to 2 years	2 to 3 years	3 to 4 years	4 to 5 years	More than 5 years
88,861	84,147	4,714	0	0	0	0
-91,761	-86,999	-4,762	0	0	0	0
-2,900	-2,853	-47	0	0	0	0
16,354	14,027	2,327	0	0	0	0
-16,888	-14,519	-2,369	0	0	0	0
-534	-492	-42	0	0	0	0

d) Reconciliation of carrying amounts under IFRS 7

Additional information on financial instruments in accordance with IFRS 7:

	Derivative financial instruments		Mandatorily measured at fair value through profit and loss	Measured at fair value through other comprehen sive income	Measured at amortized cost	Not a financial instrument	Carrying amount
	Through profit and loss	Through other comprehen sive income					Dec. 31, 2021
ASSETS
Other non-current assets	0	0	655	0	0	0	655
Trade receivables	0	0	0	61,733	68,265	0	129,998
Income tax receivables	0	0	0	0	0	529	529
Other current assets	212	182	0	0	17,723	10,926	29,042
Cash and cash equivalents	0	0	0	0	65,450	0	65,450
LIABILITIES
Interest-bearing non-current liabilities	0	0	0	0	161,082	0	161,082
Other non-current liabilities	0	0	0	0	117	1,210	1,327
Puttable non controlling interests	0	0	0	67,574	0	0	67,574
Interest-bearing current liabilities	0	0	0	0	72,505	0	72,505
Trade payables	0	0	0	0	63,894	0	63,894
Other current liabilities	1,149	1,912	0	0	24,475	43,471	71,007

	Derivative financial instruments		Mandatorily measured at fair value through profit and loss	Measured at fair value through other comprehen sive income	Measured at amortized cost	Not a financial instrument	Carrying amount
	Through profit and loss	Through other comprehen sive income					Dec. 31, 2020
ASSETS
Other non-current assets	0	0	760	0	0	0	760
Trade receivables	0	0	0	144,769	43,287	0	188,055
Income tax receivables	0	0	0	0	0	676	676
Other current assets	2,910	4,220	0	0	23,443	18,057	48,630
Cash and cash equivalents	0	0	0	0	19,015	0	19,015
LIABILITIES
Interest-bearing non-current liabilities	0	0	0	0	219,719	0	219,719
Other non-current liabilities	0	0	0	0	556	1,480	2,036
Puttable non controlling interests	0	0	0	55,370	0	0	55,370
Interest-bearing current liabilities	0	0	0	0	56,402	0	56,402
Trade payables	0	0	0	0	49,485	0	49,485
Other current liabilities	0	534	0	0	30,167	41,271	71,972

e) Net results by measurement category

in € thousand	2020	2021
Mandatorily at fair value through profit and loss	2,366	-577
At fair value through other comprehensive income	-4,437	-1,944
Financial assets at amortized cost	-1,327	-2,152
Total	-3,398	-4,673

In determining the net results from financial instruments, impairment and reversals, income and expenses from the foreign currency translation, gains or losses, and other changes to the fair values of financial instruments through profit or loss are included.

E. OTHER DISCLOSURES

E1. EVENTS AFTER THE END OF THE REPORTING PERIOD

On January 20, 2022, it was decided in Austria to incrementally reduce the corporation tax rate from 25% to 23% with effect from January 1, 2023. This reduction has no effect on the current or deferred taxes recognized as of December 31, 2021. If the amended tax rates had been used to calculate the deferred taxes as of December 31, 2021, the deferred tax assets would have decreased by approximately € 200 thousand for each percentage reduction of the corporation tax rate. However, the tax reduction will have a significantly positive effect overall because of the positive earnings expected in Austria.

In addition to the COVID-19 pandemic and the resulting difficulties in the supply chains and production planning, the war in Ukraine that began at the end of February is increasing the pressure on the international energy and commodity markets.

An advantage is that Rosenbauer has only low business volume in the directly affected markets (Ukraine, Russia and Belarus). The equity investment in PA "Fire-fighting special technics" LLC., Moscow, Russia, with a carrying amount of currently € 1,573 thousand is currently also the maximum direct carrying amount risk; indirect effects due to the supply difficulties could not be estimated at the time the report was prepared.

Besides the above effects, Rosenbauer is therefore not directly affected by these crises in 2022, although the difficult general conditions will continue. The crises do not currently have a material impact on the recoverability of carrying amounts as of December 31, 2021, although the achievement of targets for 2022 is becoming increasingly difficult.

There have been no other events of particular significance for the company that occurred after the end of the reporting period on December 31, 2021, that would have altered its net assets, financial position or result of operations.

E2. CONTINGENT LIABILITIES

Rosenbauer International AG has not issued any liability statements for the benefit of non-Group companies. There are also no further contingent liabilities that will give rise to significant liabilities.

E3. RELATED PARTY DISCLOSURES

Subsidiaries

	Currency	2020		2021
in € thousand		Investment share1 in %	Type of consolidation	Investment share1 in %	Type of consolidation
Rosenbauer Österreich GmbH, Austria, Leonding	EUR	100	KV	100	KV
Rosenbauer Brandschutz GmbH, Austria, Leonding	EUR	100	KV	100	KV
Rosenbauer E-Technology Development GmbH, Austria, Leonding	EUR	100	KV	100	KV
Rosenbauer E-Commerce GmbH, Austria, Leonding 2)	EUR			100	KV
Rosenbauer APAC Holding GmbH, Austria, Leonding 2)	EUR			100	KV
Rosenbauer Deutschland GmbH, Germany, Luckenwalde	EUR	100	KV	100	KV
Rosenbauer Karlsruhe GmbH, Germany / former Rosenbauer Management GmbH 3)	EUR	100	KV	100	KV
Rosenbauer France S.A.R.L., France, Meyzieu	EUR	100	KV	100	KV
Rosenbauer Finanzierung GmbH, Germany, Passau	EUR	100	KV	100	KV
Rosenbauer Brandschutz Deutschland GmbH Germany, Mogendorf	EUR	100	KV	100	KV
Rosenbauer d.o.o., Slovenia, Radgona	EUR	90	KV	90	KV
Rosenbauer Rovereto S.r.l. Italy, Rovereto	EUR	100	KV	100	KV
Rosenbauer Italia S.r.l. Italy, Andrian	EUR	100	KV	100	KV
Rosenbauer Schweiz AG, Switzerland, Oberglatt	EUR	100	KV	100	KV
Rosenbauer Española S.A., Spain, Madrid	EUR	62.11	KV	62.11	KV
Rosenbauer Ciansa S.L., Spain, Linares	EUR	50	AE	50	AE
Rosenbauer Polska Sp.z. o.o., Warsaw, Poland	EUR	100	KV	100	KV
Rosenbauer Minnesota, LLC., 4) USA, Minnesota	EUR	50	KV	50	KV
Rosenbauer South Dakota, LLC., 4) USA, South Dakota	EUR	50	KV	50	KV
Rosenbauer Holdings Inc., USA, South Dakota	EUR	100	KV	100	KV
Rosenbauer America, LLC., 4) USA, South Dakota	EUR	50	KV	50	KV
Rosenbauer Aerials, LLC., 4) USA, Nebraska	EUR	25	KV	25	KV
Rosenbauer Motors, LLC., 4) USA, Minnesota	EUR	50	KV	50	KV
S.K. Rosenbauer Pte. Ltd., Singapore	EUR	100	KV	100	KV

			2020	2021
in € thousand	Currency	Investment share1 in %	Type of consolidation	Investment share1 in %	Type of consolidation
Rosenbauer Australia Pty. Ltd., Australia, Brisbane	EUR	100	KV	100	KV
Eskay Rosenbauer Sdn Bhd, Brunei	EUR	80	KV	80	KV
Rosenbauer South Africa (Pty.) Ltd., South Africa, Halfway House	EUR	75	KV	75	KV
Rosenbauer Saudi Arabia Saudi Arabia, Riad	EUR	75	KV	75	KV
Rosenbauer Mena Trading - FZE, United Arab Emirates, Dubai	EUR	100	KV	100	KV
Rosenbauer UK plc United Kingdom, Holmfirth	EUR	100	KV	100	KV
Rosenbauer Fire Fighting Technology, VR China, Kunming 2)	EUR	100	KV	100	KV
PA "Fire-fighting special technics" LLC., Russia, Moscow	EUR	49	AE	49	AE

1) Indirect shareholding

2) Founded in 2021

3) Contribution of Rosenbauer Management GmbH to Rosenbauer Karlsruhe GmbH & Co.KG, change of name to Rosenbauer Karlsruhe GmbH

4) Rosenbauer International AG has the right to cast the deciding vote in the event of a tie

Transactions with related parties are described below; all transactions were performed on an arm's length basis:

	Associated companies
2020		2020	2021
31	3	1,072	2,453
2,302	2,268	-	-
24	-	698	2,246
44	491	-	-
480	1,000	-	-
		Joint ventures 2021

The purchases of goods listed relate in particular to vehicles supplied by the Spanish joint venture Rosenbauer Ciansa to the Spanish subsidiary.

In particular, sales of goods listed with associated companies and receivables relate to goods supplied by the parent company to the Russian partner company PA "Fire-fighting special technics" LLC; Russia, Moscow).

E4. REMUNERATION OF PERSONS IN KEY FUNCTIONS

The bonus is calculated from the degree of target attainment of earnings before taxes (EBT) in the respective financial year. The target is set by the Supervisory Board for two financial years at a time.

Executive Board 2021 in € thousand	Fixed remuneration		Variable remuneration	Total
Siegel	421	61%	268	39%	689
Zeller	288	73%	104	27%	392
Tomaschko	291	74%	104	26%	395
Wolf	288	73%	104	27%	392
Total	1,288	69%	580	31%	1,868

2020 in € thousand	Fixed remuneration		Variable remuneration		Total
Siegel	410	44%	514	56%	924
Zeller	286	59%	200	41%	486
Tomaschko	286	59%	200	41%	486
Wolf	286	59%	200	41%	486
Total	1,268	53%	1,114	47%	2,382

Supervisory Board
2021 in € thousand		Fixed remuneration		Variable remuneration
Reisinger	38	76%	12	24%	50
Siegel	38	76%	12	24%	50
Matzner	28	76%	9	24%	37
Zehnder	23	72%	9	28%	32
Total	127	75%	42	25%	169
2020 in € thousand	Fixed remuneration		Variable remuneration		Total
Reisinger	38	52%	35	48%	73
Siegel	38	52%	35	48%	73
Matzner	28	51%	27	49%	55
Zehnder	23	46%	27	54%	50
Total	127	51%	124	49%	251

E5. EARNINGS PER SHARE

Earnings per share are calculated in accordance with IAS 33 ("Earnings Per Share") by dividing the profit or loss for the period after deducting non-controlling interests by the number of shares outstanding. As there were no "dilutive potential ordinary shares" outstanding, the "diluted earnings per share" are equal to "basic earnings per share".

The calculation is as follows:

		2020	2021
Profit or loss for the period
after deducting non-controlling interests	in € thousand	28,807	15,433
Average number of shares outstanding	units	6,800,000	6,800,000
Basic earnings per share	in €/share	4.24	2.27
Diluted earnings per share	in €/share	4.24	2.27

There were no transactions with potential ordinary shares in the period between the end of the reporting period and the preparation of the consolidated financial statements.

E6. EXECUTIVE BODIES OF THE COMPANY

Supervisory Board

• Christian Reisinger, Chairman of the Supervisory Board Date of first appointment: May 25, 2006; End of current term of office: 2026 Annual General Meeting
• Rainer Siegel, Deputy Chairman of the Supervisory Board Date of first appointment: May 29, 2009; End of current term of office: 2024 Annual General Meeting
• Bernhard Matzner, Member of the Supervisory Board Date of first appointment: May 18, 2017; End of current term of office: 2022 Annual General Meeting Martin Paul Zehnder, Member of the Supervisory Board
• Date of first appointment: May 18, 2018; End of current term of office: 2023 Annual General Meeting

Works Council Delegates to the Supervisory Board:

• Rudolf Aichinger
• Wolfgang Untersperger

Executive Board

• Dieter Siegel, Chairman of the Executive Board
• Andreas Zeller, Deputy Chairman of the Executive Board
• Daniel Tomaschko, Member of the Executive Board
• Sebastian Wolf, Member of the Executive Board

Leonding, March 25, 2022

Dieter Siegel Andreas Zeller Daniel Tomaschko Sebastian Wolf

INFORMATION

122

123 Auditor's Report

129 Statement of all Legal Representatives

Auditor's Report

REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS

AUDIT OPINION

We have audited the consolidated financial statements of Rosenbauer International AG, Leonding, Austria, and its subsidiaries ("the Group"), which comprise the consolidated statement of financial position as at December 31, 2021, and the consolidated income statement, consolidated comprehensive income, consolidated statement of cash flows and consolidated statement of changes in equity for the year then ended, and the notes to the consolidated financial statements.

In our opinion, the consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Group as at December 31, 2021, and its consolidated financial performance and consolidated cash flows for the year then ended in accordance with International Financial Reporting Standards (IFRSs) as adopted by the EU, the additional requirements pursuant to Section 245a UGB (Austrian Commercial Code).

BASIS FOR OUR OPINION

We conducted our audit in accordance with the EU Regulation 537/2014 ("AP Regulation") and Austrian Standards on Auditing. These standards require the audit to be conducted in accordance with International Standards on Auditing (ISAs). Our responsibilities under those standards are further described in the "Auditor's Responsibilities" section of our report. We are independent of the audited Group in accordance with Austrian company law and professional regulations, and we have fulfilled our other responsibilities under those relevant ethical requirements. We believe that the audit evidence we have obtained up to the date of the auditor's report is sufficient and appropriate to provide a basis for our audit opinion on this date.

KEY AUDIT MATTERS

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial statements. These matters were addressed in the context of our audit of the consolidated financial statements as a whole, however, we do not provide a separate opinion thereon.

Measurement and recognition of callable non-controlling interests

See Notes Chapter A "General information", Section A4 "Retroactive application of accounting policies in accordance with IAS 8", Chapter B "Consolidation principles", Section B2 "Methods of consolidation", Chapter C "Accounting policies", Section C11 "Liabilities", Section C15 "Estimates and judgments" and Chapter D "Notes to the consolidated statement of financial position and the consolidated income statement", Section D9 "Equity", Section D10 "Non-controlling interests", Section D14 "Callable non-controlling interests" and Section D36 "Capital management".

Risk for the financial statements

The minority shareholders of Rosenbauer America, LLC., South Dakota, US, have an option to sell their noncontrolling interests to Rosenbauer Holdings, Inc., Minnesota, US, as a wholly owned subsidiary of Rosenbauer International AG, Leonding, on the occurrence of contractually agreed events. As of December 31, 2021,

Rosenbauer International AG, Leonding, has recognized a liability at a fair value of € 67,574 thousand for these callable non-controlling interests. With regard to the change in value of the liability, subsequent measurement is via a transfer directly from equity to the liability. This corresponds to the partial recognition of NCI method.

The fair value of the liability from the callable non-controlling interests is determined in line with the contractual agreement with the minority shareholders using a contractually defined method. This requires assumptions and estimates such as the estimate of the inclusion of selected calculation components in the derivation of the purchase price.

For the consolidated financial statements, there is therefore a risk that inappropriate assumptions and estimates could have a material effect on the fair value and thus the measurement of the liability of the callable non-controlling interests in the consolidated statement of financial position and equity.

Our response

We have assessed the recognition and measurement of the liability from the callable non-controlling interests as follows:

• We assessed whether the accounting method applied by the company for the callable non-controlling interests in Rosenbauer America, LLC. is appropriate.
• We assessed whether the selected measurement model complies with the contractual agreements on the determination of the option exercise price.
• In consultation with valuation specialists, we also assessed the material assumptions used to determine the fair value and verified the accuracy of the calculations.
• Finally, we assessed whether the disclosures required in the consolidated financial statements in connection with the transaction are appropriate and complete.

Impairment of trade receivables

See Notes Chapter C "Accounting policies", Section C6 "Trade receivables" as well as Chapter D "Notes to the consolidated statement of financial position and the consolidated income statement", Section D7 "Current receivables and other assets" and Section D37 "Risk management".

Risk for the financial statements

The consolidated financial statements of Rosenbauer International AG as of December 31, 2021, include trade receivables amounting to € 130.0 million.

The Group assesses at the end of each reporting period whether a financial asset or group of financial assets is impaired. The allowance for trade receivables is determined according to the simplified model (expected credit losses based on all possible default events during the expected lifetime). External forecasts of prospective economic development were taken into account.

The main risks are the correct derivation of the valuation matrix for trade receivables, the inclusion of prospective factors and the assessment of the willingness and ability of customers to pay the contractual recoveries in full – especially those with overdue receivables.

Our response

In performing our audit of the impairment of trade receivables, we performed the following significant audit procedures:

We obtained an understanding of the process and the implemented internal controls to monitor the allowance for credit losses on trade receivables. We also critically analyzed whether these processes are suitable to identify credit losses and adequately reflect the impairment of trade receivables.

• Furthermore, we examined based on a sample whether indicators for incurred credit losses exist and whether sufficient risk provisions have been recognized. The selection of the sample was risk-oriented and based on an aging analysis of the past due receivables as of December 31, 2021.
• We also held discussions with management for positions based on discretionary decisions. We paid particular attention to the discretionary elements in the contractual bases, the documentation received and other internal and external information.
• Furthermore, we performed a reimbursement test of the receivables in the course of our audit by checking for which outstanding customer balances, payment has already occurred and thus the recoverability of the receivables was demonstrated.
• For all receivables that were not individually impaired and for which the allowance losses for trade receivables were calculated on the basis of the expected credit losses model (general bad debt allowance) in accordance with IFRS 9, we verified the correct derivation of the valuation matrix, the calculation of the valuation model and the underlying data. In addition, the selection and measurement of forward-looking assumptions were critically assessed for comprehensibility and plausibility.

OTHER INFORMATION

Management is responsible for other information. Other information is all information provided in the annual report, other than the consolidated financial statements, the group management report and the auditor's report.

Our opinion on the consolidated financial statements does not cover other information and we do not provide any kind of assurance thereon.

In conjunction with our audit, it is our responsibility to read this other information and to assess whether, based on knowledge gained during our audit, it contains any material inconsistencies with the consolidated financial statements or any apparent material misstatement of fact.

If we conclude that there is a material misstatement of fact in other information, we must report that fact. We have nothing to report in this regard.

RESPONSIBILITIES OF MANAGEMENT AND THE AUDIT COMMITTEE FOR THE CONSOLIDATED FINANCIAL STATEMENTS

Management is responsible for the preparation and fair presentation of the consolidated financial statements in accordance with International Financial Reporting Standards (IFRSs) as adopted by the EU, the additional requirements pursuant to Section 245a UGB (Austrian Commercial Code) and for such internal controls as management determines are necessary to enable the preparation of consolidated financial statements that are free from material misstatement, whether due to fraud or error.

Management is also responsible for assessing the Group's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting, unless management either intents to liquidate the Group or to cease operations, or has no realistic alternative but to do so.

The audit committee is responsible for overseeing the Group's financial reporting process.

AUDITOR'S RESPONSIBILITIES

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material misstatement – whether due to fraud or error – and to issue an auditor's report that includes our audit opinion. Reasonable assurance represents a high level of assurance, but provides no guarantee that an audit conducted in accordance with the AP Regulation and Austrian Standards on Auditing (and therefore ISAs), will always detect a material misstatement, if any. Misstatements may result from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.

As part of an audit in accordance with the AP Regulation and Austrian Standards on Auditing, we exercise professional judgment and maintain professional skepticism throughout the audit.

Moreover:

• We identify and assess the risks of material misstatement in the consolidated financial statements, whether due to fraud or error, we design and perform audit procedures responsive to those risks and obtain sufficient and appropriate audit evidence to serve as a basis for our audit opinion. The risk of not detecting material misstatements resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations or override of internal control.
• We obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Group's internal control.
• We evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
• We conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Group's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our audit report to the respective note in the consolidated financial statements. If such disclosures are not appropriate, we will modify our audit opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the Group to cease to continue as a going concern.
• We evaluate the overall presentation, structure and content of the consolidated financial statements, including the notes, and whether the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• We obtain sufficient appropriate audit evidence regarding the financial information of the entities and business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the group audit. We remain solely responsible for our audit opinion.
• We communicate with the audit committee regarding, amongst other matters, the planned scope and timing of our audit as well as significant findings, including any significant deficiencies in internal control that we identify during our audit.
• We communicate to the audit committee that we have complied with the relevant professional requirements in respect of our independence, that we will report any relationships and other events that could reasonably affect our independence and, where appropriate, the related safeguards.
• From the matters communicated with the audit committee, we determine those matters that were of most significance in the audit i.e. key audit matters. We describe these key audit matters in our auditor's report unless laws or other legal regulations preclude public disclosure about the matter or when in very rare cases, we determine that a matter should not be included in our audit report because the negative consequences of doing so would reasonably be expected to outweigh the public benefits of such communication..

REPORT ON OTHER LEGAL REQUIREMENTS

GROUP MANAGEMENT REPORT

In accordance with Austrian company law, the group management report is to be audited as to whether it is consistent with the consolidated financial statements and prepared in accordance with legal requirements.

Management is responsible for the preparation of the group management report in accordance with Austrian company law.

We have conducted our audit in accordance with generally accepted standards on the audit of group management reports as applied in Austria.

Opinion

In our opinion, the group management report is consistent with the consolidated financial statements and has been prepared in accordance with legal requirements. The disclosures pursuant to Section 243a UGB (Austrian Commercial Code) are appropriate.

Statement

Based on our knowledge gained in the course of the audit of the consolidated financial statements and our understanding of the Group and its environment, we did not note any material misstatements in the group management report.

ADDITIONAL INFORMATION IN ACCORDANCE WITH ARTICLE 10 AP REGULATION

We were elected as auditors at the Annual General Meeting on May 26, 2021, and were appointed by the Supervisory Board on July 17, 2021, to audit the financial statements of the company for the financial year ending on December 31, 2021.

We have been the auditor of the company without interruption since the consolidated financial statements as of December 31, 2020.

We declare that our opinion expressed in the "Report on the consolidated financial statements" section of our report is consistent with our additional report to the Audit Committee, in accordance with Article 11 AP Regulation.

We declare that we have not provided any prohibited non-audit services (Article 5 Paragraph 1 AP Regulation) and that we have ensured our independence from the audited Group throughout the course of the audit.

ENGAGEMENT PARTNER

The engagement partner is Christoph Karer.

Linz, March 25, 2022

KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft

Christoph Karer Wirtschaftsprüfer (Austrian Chartered Accountant)

This document has been provided with a qualified electronic signature and is valid in this version only. The consolidated financial statements together with our auditor's report may only be published if the consolidated financial statements and the group management report are identical with the audited version attached to this report. This auditor's report relates exclusively to the Germanlanguage and complete consolidated financial statements together with the group management report. Section 281 Paragraph 2 UGB (Austrian Commercial Code) applies.

Statement of all Legal Representatives

We confirm to the best of our knowledge that the consolidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the group as required by the applicable accounting standards and that the group management report gives a true and fair view of the development and performance of the business and the position of the group, together with a description of the principal risks and uncertainties the group faces.

We confirm to the best of our knowledge that the separate financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the parent company as required by the applicable accounting standards and that the management report gives a true and fair view of the development and performance of the business and the position of the company, together with a description of the principal risks and uncertainties the company faces.

Leonding, March 25, 2022

CEO CSO CTO CFO Global central functions: Global central functions: Global central functions: Global central functions: Corporate Development, Area Management Preventive Fire Protection, Group Controlling, Strategy, NISA and NOMA, Central Technics, Legal, Compliance & Fire & Safety Equipment, Internal Audit, IT Product Management

Dieter Siegel Andreas Zeller Daniel Tomaschko Sebastian Wolf

Human Resources, APAC, CEEU, MENA, Supply Chain Management, Group Accounting and Tax, Innovation & Marketing, Sales Administration, CoC Operations Insurance, Export Finance, Group Communication, Customer Service Treasury, Investor Relations,

ROSENBAUER INTERNATIONAL AG

131 Lagebericht

130

• 158 Jahresabschluss
• 184 Bestätigungsvermerk
• 189 Erklärung der gesetzlichen Vertreter

Rosenbauer Annual Financial Report 2021

Lagebericht

WIRTSCHAFTLICHES UMFELD1

Die Weltwirtschaft hat sich 2021 nach einem pandemiebedingten Einbruch im Jahr davor wieder teilweise erholt und ist nach Berechnungen des Internationalen Währungsfonds (IWF) mit 5,9 % deutlich gewachsen. Insbesondere die schlechten Nachrichten des zweiten Halbjahres haben die wirtschaftliche Entwicklung verlangsamt und eine breitere Erholung vereitelt.

Nachdem die Zahl der täglichen Todesfälle mit COVID-19 von August bis Oktober weltweit stark gesunken ist, hat das Auftreten der Omikron-Variante im November zu neuen Reisebeschränkungen und höherer Volatilität an den Finanzmärkten geführt. Die neue Virusmutation zieht scheinbar im Vergleich zu Delta mildere Krankheitsverläufe und weniger Hospitalisierungen nach sich, sie ist aber um ein Vielfaches infektiöser.

Darüber hinaus haben die Störungen der internationalen Lieferketten die wirtschaftliche Aktivität belastet und die Produktion, vor allem in Europa und in den USA, behindert. Nach einer IWF-Teamanalyse könnten diese Unterbrechungen im Berichtsjahr zwischen 0,5 und 1,0 Prozentpunkte Wachstum gekostet und einen Prozentpunkt zur Kerninflation beigetragen haben. Die Inflation ist zuletzt insgesamt, je nach Region getrieben durch unterschiedliche Faktoren, kontinuierlich gestiegen.

1 IWF, WORLD ECONOMIC OUTLOOK, UPDATE, 25. JÄNNER 2022 WELTBANK, GLOBAL ECONOMIC PROSPECTS, 11. JÄNNER 2022

BRANCHENENTWICKLUNG2

Weltfeuerwehrmarkt

Der Weltfeuerwehrmarkt hat ein jährliches Volumen von zirka 20.400 Fahrzeugen mit einem Gesamtwert von rund 5,3 Mrd €. Nicht eingerechnet sind hier Kleinfahrzeuge bis 7,5 t Gesamtgewicht, feuerwehrtechnische Ausrüstung, Service und stationäre Anlagen.

Basierend auf internen Schätzungen von Rosenbauer dürfte sich das globale Marktvolumen im Berichtsjahr seitwärts entwickelt haben, was auf die teils rigorosen Maßnahmen zur Pandemiebekämpfung und die massiven Störungen der internationalen Lieferketten zurückzuführen ist. Die stärksten Absatzregionen sind Europa, Nordamerika und Asien; die größten Einzelmärkte sind die USA, China und Deutschland.

² Zuletzt verfügbare Marktdaten aus 2020. Eigene Berechnung auf Basis von Zahlen der Weltbank und der UNO sowie von Jahresberichten und Expertenschätzungen

UMSATZ-, ERTRAGS- UND AUFTRAGSENTWICKLUNG

Die Rosenbauer International AG erzielte im Geschäftsjahr 2021 einen Umsatz von 444,3 Mio € (2020: 525,9 Mio €).

Das stärkste Umsatzsegment war mit 76 % (2020: 81 %) das Produktsegment Fahrzeuge. Der Bereich Ausrüstung kam auf einen Umsatz von 66,5 Mio € (2020: 58,7 Mio €), was einem Anteil von 15 % (2020: 11 %) am Gesamtumsatz entspricht. Die Umsätze Service, Ersatzteile und Sonstige beliefen sich auf 9 % (2020: 8 %).

Rund 35 % (2020: 36 %) des Umsatzes bzw. 154,6 Mio € (2020: 186,9 Mio €) wurden in Europa erzielt. Im Nahen Osten wurde ein Umsatz von 106,4 Mio € bzw. 24 % (2020: 143,1 Mio € bzw. 27 %) erzielt. Die Umsätze in der Region Asien/Ozeanien blieben mit 76,9 Mio € auf dem Niveau des Vorjahres (2020: 74,3 Mio €). Lieferungen in sonstige Länder betrugen 106,4 Mio € (2020: 121,6 Mio €).

Auftragslage

Der Auftragseingang erreichte 2021 einen Wert von 469,3 Mio € (2020: 395,6 Mio €) und lag somit deutlich über dem Vorjahr. Der Auftragsbestand betrug zum Jahresultimo 430,9 Mio € (31. Dezember 2020: 355,8 Mio).

Ertragslage

Der Betriebserfolg lag mit -12,7 Mio € (2020: 15,5 Mio €) deutlich unter dem Vorjahr. Die Ursachen dafür sind verzögerte Fahrzeugabnahmen, die zu Umsatzverschiebungen ins Jahr 2022 geführt haben, sowie anhaltende Produktionsstörungen und Materialpreissteigerungen auf Grund von Problemen in den Lieferketten. Das Ergebnis vor Steuern war demzufolge ebenfalls negativ und betrug -8,3 Mio € (2020: 28,6 Mio €).

REGIONALE ENTWICKLUNG

Die Segmentberichterstattung erfolgt nach fünf Absatzregionen (Areas): CEEU (Zentral- und Osteuropa), NISA (Nordeuropa, Iberien, Südamerika und Afrika), MENA (Mittlerer Osten und Nordafrika), APAC (Asien-Pazifik) und NOMA (Nord- und Mittelamerika). Der Vorbeugende Brandschutz wird als eigenes Segment dargestellt.

Area CEEU

Die Area CEEU umfasst die Länder Zentral-, Ost- und Südosteuropas, mit der D-A-CH-Region (Deutschland, Österreich, Schweiz) als historischem Heimmarkt.

Zur Area CEEU gehören die Konzerngesellschaften Rosenbauer International und Rosenbauer Österreich mit Sitz in Leonding, Rosenbauer Deutschland in Luckenwalde, Rosenbauer Karlsruhe (Deutschland), Rosenbauer Slowenien in Radgona, Rosenbauer Italia in Andrian, Rosenbauer Rovereto (Italien), Rosenbauer Schweiz in Oberglatt und Rosenbauer Polska in Lomianki. Die Werke in der Area CEEU (Leonding, Neidling, Karlsruhe, Radgona und Rovereto) produzieren für alle Areas, das Werk Luckenwalde hauptsächlich für den deutschen Markt.

Anfang 2021 erhielt Rosenbauer als Bestbieter den Zuschlag vom deutschen Bundesministerium für Inneres im Auftrag des Bundesamtes für Bevölkerungsschutz und Katastrophenhilfe (BBK) für die Lieferung von 61 Löschgruppenfahrzeugen LF-KatS mit optionaler Erweiterung auf bis zu 182 Fahrzeuge. Sie sind Teil eines mehrjährigen Beschaffungsprogrammes, im Zuge dessen Rosenbauer bereits 308 Fahrzeuge gleicher Bauart geliefert hat. Die Fertigung erfolgt in Radgona, dem Kompetenzzentrum für Fahrzeuge der ET-Baureihe.

Von der BwFuhrparkService GmbH, dem Fuhrpark-Dienstleistungsunternehmen der deutschen Bundeswehr, erhielt Rosenbauer Deutschland im Auftrag der deutschen Bundeswehr den Zuschlag für die Lieferung von 76 Tanklöschfahrzeugen zur Bekämpfung von Waldbränden. Dies ist der größte Auftrag dieser Art für die hochgeländegängigen Spezialfahrzeuge. Die Fahrzeuge basieren auf der MT-Baureihe mit robustem Offroad-Chassis und hochwertiger Löschtechnik.

Marktentwicklung

Die Wachstumsraten der meisten Märkte innerhalb der Area CEEU haben das Vor-Corona Niveau erreicht. Langfristig betrachtet wird ein stärkeres Wachstum in Osteuropa prognostiziert, während das Wachstum im zentraleuropäischen Raum sich eher verhalten entwickeln dürfte. Bemerkenswert sind die Prognosen für Italien, nach zehn Jahren Krise zeichnet sich eine Erholung dieser Marktwirtschaft ab. Verschiedene Investitionsinitiativen – vornehmlich in Deutschland – haben für eine starke Ausschreibungsaktivität gesorgt. Die Eigenmittel der freiwilligen Feuerwehren (vor allem in der D-A-CH-Region, aber auch in Südtirol und Slowenien) sind mangels Einnahmen aus sozialen Aktivitäten stark reduziert worden. Dieser Effekt wird sich im Jahr 2022 bei der Beschaffung von Ausrüstung bemerkbar machen.

Der Auftragseingang in der Area lag im Berichtsjahr mit 412,1 Mio € (2020: 402,7 Mio €) über dem Vorjahr.

Geschäftsentwicklung

Der Umsatz in der Area CEEU verringerte sich 2021 auf 346,8 Mio € (2020: 363,0 Mio €). Der größte Anteil entfiel auf Deutschland, gefolgt von Österreich. Auch wenn der Trend zu Sammelausschreibungen anhält, sind es in der Area CEEU immer noch überwiegend Einzelfahrzeuge, die verkauft werden.

Die Area CEEU steuerte 2021 rund 35 % (2020: 35 %) zum Konzernumsatz bei. Das EBIT betrug im Berichtsjahr 16,7 Mio € (2020: 19,3 Mio €), die EBIT-Marge 4,8 % (2020: 5,3 %).

Area NISA

Das NISA-Vertriebsgebiet umfasst die westeuropäischen Länder vom Nordkap bis Gibraltar sowie den Großteil der afrikanischen und südamerikanischen Staaten.

Zur Area NISA gehören die Konzerngesellschaften Rosenbauer Española in Madrid (Spanien), Rosenbauer South Africa in Johannesburg (Südafrika), Rosenbauer France in Meyzieu (Frankreich) und Rosenbauer UK in Meltham (Großbritannien). Im spanischen Werk Ciansa in Linares werden sowohl Fahrzeuge für die NISA-Region als auch für andere Regionen/Areas gebaut, aktuell im Produktionsprogramm sind zum Beispiel 11 Kleinrüstfahrzeuge für den spanischen Flughafenbetreiber Aena und 54 Kommunalfahrzeuge aus der Efficient Technology (ET) Baureihe für verschiedene spanische Feuerwehren und für die Feuerwehrregion Hollands Midden. Feuerwehrfahrzeuge werden in den Niederlanden üblicherweise in Sammelausschreibungen für ganze Regionen beschafft. Neben Hollands Midden haben zuletzt auch die Regionen Gelderland Midden und Drenthe bei Rosenbauer bestellt. Sie erhalten in den kommenden Jahren jeweils 23 Advanced Technology (AT) Fahrzeuge.

Marktentwicklung

Die Länder der NISA Area mussten im Jahr 2021 erneut die zusätzlichen Belastungen der COVID-19-Pandemie bewältigen. Dennoch konnte ein leichter Anstieg der Ausschreibungstätigkeiten verzeichnet werden. Diese Entwicklungen spiegeln sich auch im Auftragseingang der Area NISA von 98,9 Mio € 2020 auf 116,3 Mio € 2021 wider. Neun dänische Feuerwehren haben zum Beispiel gemeinsam die nächste Generation ihrer Tanklöschfahrzeuge ausgeschrieben. Im August 2021 erhielt Rosenbauer den Zuschlag. In Summe sollen bis zu 45 Fahrzeuge beschafft werden, 35 sind fix bestellt, zehn weitere können optional nachgeordert werden.

Geschäftsentwicklung

Die Area NISA erwirtschafte 2021 einen Umsatz von 93,2 Mio € (2020: 114,5 Mio €), was 10 % aller Erlöse im Konzern (2020: 11 %) entsprach. In Ecuador konnten die ersten zwei ET aus spanischer Produktion – die allerersten in Südamerika – an die Feuerwehr Cayambe und ein PANTHER 6x6 an den Flughafen Quito übergeben werden. Als zwei weitere Staaten in der Area NISA haben sich Tunesien und Kap Verde für den PANTHER entschieden. In beiden Fällen orientierten sich die Kunden an Flughafenbetreibern, die vor kurzem PANTHER beschafft haben. So hat sich die tunesische Flughafenbehörde OACA (Office de l'aviation civile et des aéroports) für dasselbe Fahrzeugkonzept wie die marokkanische ONDA entschieden.

Das EBIT der Area NISA ging im Berichtsjahr auf 1,2 Mio € (2020: 3,5 Mio €) zurück, die EBIT-Marge betrug 1,2 % (2020: 3,1 %).

Area MENA

Die Area MENA umfasst geografisch den Nahen und Mittleren Osten sowie Teile Nordafrikas.

Zur Area MENA gehören die Konzerngesellschaften Rosenbauer Saudi Arabia mit Sitz in Riad (Saudi-Arabien) einschließlich der Produktionsstätte in der King Abdullah Economic City (KAEC) und die Rosenbauer MENA Trading - FZE (Dubai) mit einem Tochterunternehmen in Abu Dhabi (Vereinigte Arabische Emirate). Das Werk in der KAEC produziert ausschließlich für den MENA-Vertrieb.

Marktentwicklung

Die Beschaffung von Fahrzeugen wurde in vielen Ländern des Mittleren Ostens dezentralisiert. Dies führte zu kleineren Ordergrößen und zu weniger Nachfragespitzen. Es ist auch eine verstärkte Nachfrage nach umfassender Kundenbetreuung zu verzeichnen, die über einen Fahrzeugkauf hinausgeht. Die in der Region ansässige Erdölindustrie hat nach wie vor Bedarf an leistungsstarken Speziallöschfahrzeugen. Rosenbauer bedient dieses Segment unter anderem mit dem neu entwickelten TIGON. Nach den Vereinigten Arabischen Emiraten (UAE) und Saudi-Arabien hat sich auch ein erster Kunde aus dem Oman für den TIGON entschieden. Die Bestellung erfolgte durch das Petroleum Development Oman (PDO), das insgesamt sieben Ölfelder betreibt. Der Erdölkonzern Saudi Aramco hat in den letzten zwölf Monaten 23 Industriefahrzeuge bei Rosenbauer in Auftrag gegeben. Der Kunde setzte dabei erstmals nicht auf ein US-amerikanisches Schaumsystem sondern komplett auf Rosenbauer Löschtechnik.

Zum Zeitpunkt der Berichtserstellung war die Weltwirtschaft mit extremen Schwankungen des Ölpreises konfrontiert. Abhängig von der weiteren Entwicklung im Verlauf des Jahres könnte sich neues Potenzial für den Absatz von Rosenbauer Produkten ergeben.

Der Auftragseingang in der Area MENA blieb mit 102,2 Mio € im Berichtsjahr deutlich unter dem des Vorjahres mit 120,7 Mio €.

Geschäftsentwicklung

Der Umsatz in der Area MENA verringerte sich 2021 deutlich auf 123,7 Mio € nach 150,1 Mio € im Vorjahr. Die größte Lieferung ging an die Civil Defence Katar. Sie erhielt Ende des Jahres insgesamt 64 Fahrzeuge aus einem über 100 Fahrzeuge umfassenden Großauftrag, der unter anderem zwölf AT und elf Großtanklöschfahrzeuge aus der Produktion in Leonding sowie 25 Rapid Intervention Vehicles aus der Neidlinger Produktion umfasst.

Die Area MENA steuerte im Berichtsjahr 13 % (2020: 14 %) zu den Gesamterlösen des Konzerns bei. Das EBIT erreichte 5,2 Mio € (2020: 16,2 Mio €), die EBIT-Marge betrug 4,2 % (2020: 10,8 %).

Area APAC

Die Area APAC umfasst die gesamte ASEAN-Pazifik-Region, Russland, Türkei, die GUS-Staaten sowie Japan, Indien und China.

Zur Area gehören die Konzerngesellschaften S.K. Rosenbauer in Singapur, Rosenbauer Australia mit Sitz in Brisbane, Rosenbauer Fire Fighting Technology (Yunnan) in China und eine Minderheitsbeteiligung an der PA "Fire-fighting special technics" in Moskau/ Russland. Weitere Vertriebs- und Servicestandorte gibt es in Brunei und auf den Philippinen. Das Werk Singapur produziert Fahrzeuge für den südostasiatischen Markt, das Werk Moskau kommunale Feuerwehrfahrzeuge für Russland.

Marktentwicklung

Der fragmentierte asiatische Feuerwehrmarkt zeigte sich auch im zweiten Jahr der Pandemie durch COVID-19 schwer belastet. Niedrige Impfraten und die Ungewissheit vor neuen Ausbrüchen des Coronavirus und häufige Lockdowns bremsen die wirtschaftliche Erholung. Ein wenig erholt zeigte sich der Markt für Flughafenlöschfahrzeuge. So konnte Rosenbauer die prestigeträchtige Ausschreibung des Flughafens Hongkong über neun PANTHER und fünf Hose Tender (Unterstützungsfahrzeuge) gewinnen. Sie werden in Zukunft die neu gebaute dritte Landebahn sichern. Trotz der sehr schwierigen gesamtwirtschaftlichen Lage konnte der Auftragseingang in der Area APAC einen erfreulichen Anstieg auf 113,1 Mio € im Berichtsjahr (2020: 93,6 Mio €) verzeichnen.

Geschäftsentwicklung

Der Umsatz in der Area APAC ging 2021 auf 117,1 Mio € zurück (2020: 127,0 Mio €). Erstmalig erfolgte 2021 die Belieferung einer kommunalen Feuerwehr in Japan (Tokyo Fire Department) mit einem Tanklöschfahrzeug aus europäischer Produktion und es konnten gleich mehrere Inselstaaten im Südpazifik mit Fahrzeugen der PANTHER Baureihe beliefert werden. In Neuseeland werden mit dem sehr manövrierfähigen PANTHER 6x6 S mehrere Regionalflughäfen beliefert. In Indien wird der neue Flughafen in Goa mit PANTHER Fahrzeugen ausgerüstet und die Mumbai Fire Brigade hat erstmals zwei Drehleitern mit einer Rettungshöhe von 64 m bestellt.

Der Anteil am Gesamtumsatz betrug 12 % (2020: 12 %). Das EBIT sank auf 2,5 Mio € nach 4,4 Mio € im Vorjahr, die EBIT-Marge belief sich auf 2,1 % (2020: 3,5 %).

Area NOMA

Die Area NOMA umfasst die USA und Kanada sowie einige Länder in Mittelamerika und der Karibik. Neben der Holdinggesellschaft Rosenbauer America mit Sitz in Lyons gehören die Produktionsgesellschaften Rosenbauer Minnesota und Rosenbauer Motors in Wyoming (Minnesota), Rosenbauer South Dakota in Lyons (South Dakota) und Rosenbauer Aerials in Fremont (Nebraska) zur Area. Die Feuerwehrfahrzeuge werden nach US-Norm gefertigt und überwiegend in die Vertriebsregion NOMA geliefert, gehen aber auch an Kunden in den Areas MENA, NISA und APAC.

Marktentwicklung

Der nordamerikanische Feuerwehrmarkt hat sich 2021 der COVID-19-Pandemie zum Trotz in sehr guter Verfassung präsentiert. Das Beschaffungsvolumen dürfte in den vergangenen zwölf Monaten wieder auf über 6.000 Fahrzeuge gestiegen sein. Dazu haben sowohl umfangreiche Förderprogramme für den Katastrophenschutz als auch vorgezogene Bestellungen von Feuerwehren beigetragen, die damit längeren Wartezeiten vorbeugen wollen.

Die Area NOMA hat das laufende Geschäftsjahr mit einem äußerst robusten Auftragsbestand begonnen. Bei den Auftragseingängen haben zuletzt steigende Beschaffungen von Kommunen und Regierungsstellen den Rückgang

im Flughafengeschäft mehr als kompensiert. Neben dem voll batterieelektrische "Revolutionary Technology" ist dabei auch das innovative Akkulöschsystem von Rosenbauer bei den Kundinnen und Kunden auf wachsendes Interesse gestoßen.

Die forcierten Vertriebsaktivitäten in Richtung großer Kommunen (Fleet Accounts) zeigen erste gute Ergebnisse: So konnten nicht nur mehrere Dealerships in größeren Städten als Partner für das Rosenbauer Netzwerk gewonnen werden, darunter der vierte Händler an der Ostküste, sondern 2021 auch der erste Flottenauftrag des Nashville Fire Departments über 20 Fahrzeuge an Land gezogen werden. Die Betreuung städtischer Feuerwehren mit großen Fahrzeugflotten, die über den gesamten Produktlebenszyklus begleitet werden, hat ein attraktives Wachstumspotenzial.

Fleet Accounts bezeichnen städtische Feuerwehren mit größeren Fahrzeugflotten, die beginnend mit dem Verkauf inklusive Finanzierungsmodellen über den After Sales Service bis hin zu Ersatzbeschaffungen von den Dealern intensiv betreut werden. Der Vorteil liegt darin, dass hier die Feuerwehren ganze Flotten bestellen und Großaufträge erteilen - mit dem Ziel, langfristig mit ihren Liefer- und Servicepartnern zusammenzuarbeiten. Um den Erwartungen am Markt zu entsprechen, wurde in einem ersten Schritt bei Rosenbauer America die Position eines Fleet Account Managers installiert, der den Markt bewertet, Verkaufspotenziale erkennt und die Dealer beim Verkauf unterstützt.

Der Auftragseingang in der Area NOMA betrug im Berichtsjahr 290,1 Mio € und war damit höher als im Vorjahr (2020: 263,1 Mio €).

Geschäftsentwicklung

Die Area NOMA erzielte in der Berichtsperiode mit 264,5 Mio € eine leichte Umsatzsteigerung gegenüber dem Vorjahr (2020: 260,9 Mio €). Das entspricht einem Anteil am Konzernumsatz von 27 % (2020: 25 %). An das Jamaica Fire Department wurden 30 Urban Interface Pumper (Timberwolf) geliefert, womit die Rosenbauer Flotte in dem Karibikstaat auf über 80 Fahrzeuge anwuchs.

Das EBIT lag mit 9,5 Mio € (2020: 15,1 Mio €) unter dem Vorjahreswert, die EBIT-Marge bei 3,6 % (2020: 5,8 %).

Vorbeugender Brandschutz

Der Vorbeugende Brandschutz beschäftigt sich mit der Planung, Errichtung und Wartung von ortsfesten Lösch- und Brandmeldeanlagen. Das Segment wird von den beiden Konzerngesellschaften Rosenbauer Brandschutz mit Sitz in Leonding und Rosenbauer Brandschutz Deutschland in Mogendorf bearbeitet. Beide Gesellschaften sind als VdS-Errichterbetriebe anerkannt und nach ISO 9001 zertifiziert, was international als Qualitätsnachweis gilt. Damit zählt Rosenbauer Brandschutz im deutschsprachigen Raum zu den wenigen Unternehmen, die eine VdS-Zulassung besitzen. Diese verschafft einen guten Marktzugang und ist vielfach eine notwendige Voraussetzung um bei Ausschreibungen anbieten zu können.

Neben der Zentrale in Mogendorf unterhält Rosenbauer Brandschutz noch weitere Standorte in Deutschland. Am Standort Gladbeck erfolgt die Planung der Wasserlöschanlagen. Der After-Sales-Service für die Wasserlöschanlagen erfolgt über den Standort in Hilden. Darüber hinaus ist ein Vertriebsteam in Hattersheim angesiedelt.

Marktentwicklung

Rosenbauer sieht im Bereich Vorbeugender Brandschutz Wachstumspotenzial durch die Ansprache neuer Kundengruppen, einerseits durch die Erweiterung des Produktportfolios (Sprinkler- und Sprühflutsysteme) am österreichischen Markt und andererseits durch die Entwicklung von neuen präventiven Lösungen beispielsweise für die Früherkennung etwa in der Recycling- (Akkus) und der Energiewirtschaft.

Der Auftragseingang im Vorbeugenden Brandschutz entwickelte sich positiv und stieg 2021 auf 30,5 Mio € im Vergleich zu 2020 mit 28,7 Mio €.

Geschäftsentwicklung

Der Umsatz im Vorbeugenden Brandschutz stieg in der Berichtsperiode von 28,7 Mio € auf 29,8 Mio €. Damit beträgt der Anteil am Gesamtumsatz 3 % (2020: 3 %). Die Recyclingbranche gehört zu den wichtigsten Abnehmern von Rosenbauer Brandschutzanlagen. 2021 erfolgte die Ausstattung von einem Altstoffzentrum in Lustenau, einer Abfallbehandlungsanlage in Frohnleiten und einem Abfallunternehmen in Linz. In Vorarlberg wurden zwei vollautomatische Werferlöschanlagen (RPE Turret RM35) installiert, die über das Brandfrüherkennungssystem RPA Infrared Detection Ignis3D aktiviert werden. Der volumengrößte Auftrag wird derzeit in Deutschland bei einem Recyclingunternehmen abgewickelt. Dort werden Sprühflutanlagen, Brandmeldeanlagen, Werfer, Hydranten, Technikzentralen und ein 650-m³-Vorratstank montiert.

Das EBIT lag mit 3 t€ nur knapp im positiven Bereich (2020: -0,8 Mio €).

FINANZLAGE, VERMÖGENS- UND KAPITALSTRUKTUR

Branchenbedingt ist die Bilanzstruktur zum Jahresende durch ein hohes Working Capital geprägt. Dieses resultiert aus den vergleichsweise langen Durchlaufzeiten der Feuerwehrfahrzeuge, die grundsätzlich kundenspezifisch gebaut werden. Die Bilanzsumme reduzierte sich zum 31. Dezember 2021 auf 532,5 Mio € (2020: 547,1 Mio €). Niedrigere Außenstände bei den Forderungen sowie gesunkene Vorräte waren hierfür die Hauptursache.

Das Sachanlagevermögen lag mit 82,5 Mio € (2020: 84,8 Mio €) leicht unter dem Vorjahresniveau. Die Finanzanlagen betrugen 79,5 Mio € (2020: 77,4 Mio €).

Das Umlaufvermögen reduzierte sich aufgrund der gesunkenen Vorräte von 135,1 Mio € (2020: 141,5 Mio €) und der reduzierten Forderungen von 171,6 Mio € (2020: 229,1 Mio €) um 6% und belief sich insgesamt auf 350,1 Mio € (2020: 371,3 Mio €). Da die Verbindlichkeiten mit 279,5 Mio € (2020: 280,3 Mio €) nur leicht unter dem Vorjahr lagen, konnte das Working Capital insgesamt deutlich reduziert werden (2021: 70,6 Mio; 2020: 91,0 Mio).

Im abgelaufenen Geschäftsjahr reduzierten sich die Eigenmittel aufgrund des reduzierten Ergebnisses auf 181,6 Mio € (2020: 196,6 Mio €). Durch die gesunkene Bilanzsumme konnte der Ergebniseffekt teilweise kompensiert werden. Die Eigenkapitalquote betrug zum Stichtag 31. Dezember 2021 34,1 % (2020: 35,9 %).

INVESTITIONEN

Die Investitionen in das Sachanlagevermögen und immaterielle Vermögensgegenstände lagen im Berichtsjahr mit 12,7 Mio € deutlich unter dem Niveau des Vorjahres € (2020: 17,1 Mio €), da ein Großteil der Investitionen für das mehrjährige Modernisierungsprogramm von Werk 1 bereits im Jahr 2020 anfiel. Die Abschreibungen des Sachanlagevermögens und der immateriellen Vermögensgegenstände entsprechen mit gesamt 9,8 Mio € dem Vorjahresniveau (2020: 9,9 Mio €).

Effiziente Produktion

Im Berichtsjahr hat Rosenbauer in Leonding eines der modernsten Bearbeitungszentren mit Knickarm-Roboter eingerichtet. Auf der neuen Fräs-/Drehmaschine können Pumpenteile wie das Rotgussgehäuse der N130 mit rund 96 kg bearbeitet werden. Der Schwerlastroboter bestückt sie aus einem Palettenspeicher mit Rohlingen. Mit der neuen Anlage kann eine mannlose dritte Schicht realisiert und die Effizienz der Vorfertigung deutlich gesteigert werden.

Durch die teilweise Neugestaltung sowie die Umstellung von Standplatz- auf Linienmontage können die Werfer RM35 und RM80 nun in einer Line bei kürzeren Montagezeiten gefertigt werden. Neben einer effizienten Produktion bringt die Neuerung eine Entflechtung des Materialflusses, verkürzt die Wege und schafft eine bessere Übersicht. Darüber hinaus werden die vielen Gleichteile der beiden Werfer über die KANBAN-Logistik angeliefert, dies bringt eine enorme Arbeitserleichterung und spart Kosten.

Im Werk Neidling erfolgte der Aufbau zweier Kurzlinien für die Produktion von 265 baugleichen Tragkraftspritzenfahrzeugen (TSF-W) für Mecklenburg-Vorpommern zusätzlich zu dem normalen Fahrzeugprogramm. Sowohl der Bau der Mannschaftsraummodule als auch die Aufbaumontage erfolgen auf eigenen Linien mit drei Stationen. Für den optimalen Materialfluss sorgt ein KANBAN-System, das an allen Arbeitsplätzen installiert ist.

Erweiterte Kapazitäten

Rosenbauer agiert immer nahe am Kunden und hat mit dem im April 2021 neu eröffneten "Rosenbauer Kundenzentrum Österreich" am Standort Asten eine Anlaufstelle für alle Belange geschaffen – vom Service bis hin zur Beschaffung von Ausrüstung oder Ersatzteilen. Die umfangreiche Service-Infrastruktur kombiniert mit einem Shop bietet zeitgemäßen Kundenservice im Sinne eines One-Stop-Shops.

Mit Blick auf Nachhaltigkeit produziert Rosenbauer möglichst langlebige Ausrüstung und Komponenten, deren Lebensdauer durchaus verlängert werden kann. Dafür wurde am Standort Asten eine Montagewerkstatt mit Metallbearbeitungsmaschinen samt Schweißarbeitsplatz eingerichtet, um kleinere Umbauten und das Refurbishment, die Modernisierung und Generalüberholung von Feuerwehrfahrzeugen, durchführen zu können. Es ist angedacht, den Standort Asten auch grenzüberschreitend für das Refurbishment von Fahrzeugen zu nutzen.

Effiziente Prozesse

Im Berichtsjahr setzte Rosenbauer planmäßig die Einführung von SAP S/4HANA als neues, konzernweites ERP-System fort. Der erste Release erfolgt dabei im Bereich Sales und Service bei Rosenbauer Schweiz, da dort bereits Erfahrungen mit SAP vorhanden waren. Anfang Februar 2022 war der Go-live und die Fertigungsaufträge werden seither über das neue System abgewickelt. Als Pilotgesellschaft im Bereich der Produktion fungiert Rosenbauer Slowenien, der Roll-out ist für 2023 geplant.

BESCHAFFUNG, LOGISTIK UND PRODUKTION

Einkaufs- und Lieferantenpolitik

Für den Geschäftserfolg des Rosenbauer Konzerns ist es von essenzieller Bedeutung, nur mit den besten und innovativsten Lieferanten zusammenzuarbeiten. Die Anforderungen der Feuerwehren verändern sich permanent, entsprechend flexibel müssen Rosenbauer und seine Zulieferer darauf reagieren können. Rosenbauer setzt gezielt auf eine enge und partnerschaftliche Zusammenarbeit mit seinen Zulieferern, die sorgfältig ausgewählt und laufend evaluiert werden. Gemeinsam werden Strategien zur Optimierung der Logistikkette, Verbesserung der Kosteneffizienz, Erfüllung von Umweltaspekten bis hin zu innovativen Produktlösungen entwickelt. Ziel der

intensiven Zusammenarbeit ist es unter anderem, neben der Nutzung des eigenen Wissens auch auf das Know-how, die Kreativität und die Erfahrung der Lieferanten zurückzugreifen. Gerade in Jahren eines schwierigen Beschaffungsumfeldes wie 2021 zeigte sich vermehrt, dass die langjährigen Partnerschaften halfen, herausfordernde Bedarfssituationen entsprechend abzusichern.

Hohes Zukaufsvolumen

Basierend auf der hohen Materialintensität (60% der Umsatzerlöse) und einem damit korrespondierenden hohen Einkaufsvolumen ist die termingerechte Versorgung der Produktion eine zentrale Herausforderung. Ein Großteil des Rosenbauer Einkaufsvolumens wird in Europa beschafft, der Rest stammt überwiegend aus den USA. Die wichtigsten Lieferanten kommen aus Österreich, Deutschland und den USA.

WEITERE RECHTLICHE ANGABEN

Nichtfinanzielle Erklärung/Nachhaltigkeit

Nachhaltigkeitsverständnis

Unter Nachhaltigkeit versteht Rosenbauer verantwortungsvolles unternehmerisches Handeln für langfristigen ökonomischen Erfolg im Einklang mit Umwelt und Gesellschaft. Nachhaltig profitabel zu wachsen ist erklärtes Unternehmensziel. Dabei werden sämtliche relevanten Stakeholder miteinbezogen und im direkten Dialog angesprochen.

In der Rosenbauer Nachhaltigkeitsstrategie sind die zentralen Handlungsschwerpunkte festgelegt. Neben der effizienten Nutzung von Ressourcen will Rosenbauer als Technologieführer mit zukunftsorientierten Materialien Produkte schaffen, die den Kunden zum Schutz von Leben und Infrastruktur dienen. Darüber hinaus hat Rosenbauer den Anspruch, als Top-Arbeitgeber seinen Mitarbeitenden eine ausgewogene Work-Life-Balance zu ermöglichen und für sie eine moderne und vor allem sichere Arbeitsumgebung zu schaffen.

Die Nachhaltigkeitsstrategie ist eingebettet in die Unternehmensstrategie; ihr Fundament sind die Rosenbauer Markenwerte.

Aus Tradition neugierig stellt sich Rosenbauer weltweit den Herausforderungen der modernen Feuerwehren und geht selbstbewusst voran. Als ihr Partner arbeitet Rosenbauer fokussiert an Produkt- und Servicelösungen, die den Alltag der Einsatzkräfte erleichtern und vor allem sicherer machen.

Der Konzern fühlt sich in seinem Handeln nicht nur an gesetzliche Bestimmungen gebunden, sondern hat eigene Regeln wie den Code of Conduct aufgestellt, die darüber hinausgehen.

Nachhaltigkeitsmanagement

Das Rosenbauer Nachhaltigkeitsmanagement ist organisatorisch im Bereich Corporate Communication & Investor Relations angesiedelt und berichtet an den Vorstand. Ziel des Nachhaltigkeitsmanagements ist es, in allen Geschäftsprozessen die Auswirkungen auf Umwelt und Gesellschaft zu berücksichtigen und die ökonomischen mit den ökologisch-sozialen Vorstellungen des Unternehmens in Einklang zu bringen. Dabei arbeiten Nachhaltigkeitsmanagement und operative Einheiten eng zusammen. Zur Steuerung und jährlichen Überprüfung der Zielerreichung werden sowohl quantitative als auch qualitative Messinstrumente eingesetzt.

Nachhaltigkeitsberichterstattung

Seit dem Geschäftsjahr 2017 veröffentlicht Rosenbauer jährlich einen Nachhaltigkeitsbericht, der über die Rosenbauer Website abgerufen werden kann. Dieser wurde nach den "GRI-Standards" (Global Reporting Initiative) und nach den Anforderungen des österreichischen "NaDiVeG" (Nachhaltigkeits- und Diversitätsverbesserungsgesetz) erstellt und erscheint gemäß § 267a UGB als gesonderter nichtfinanzieller Bericht. 2021 wurde der Bericht vom Aufsichtsrat geprüft und freigegeben.

Für das Berichtsjahr 2021 unterliegt Rosenbauer erstmalig der Berichterstattungspflicht gemäß Art. 8 der EU Taxonomie-Verordnung. Rosenbauer ist für dieses Berichtsjahr verpflichtet den Anteil der taxonomiefähigen und nicht-taxonomiefähigen Wirtschaftstätigkeiten am Gesamtumsatz, an den Investitions- und Betriebsausgaben sowie entsprechende qualitative Informationen dazu offenzulegen.

MITARBEITERINNEN UND MITARBEITER

Management der COVID-19 Pandemie

Auch im Jahr 2021 hat der COVID-19-Krisenstab in der Zentrale von Rosenbauer seine Arbeit fortgeführt. Dieser Krisenstab hat das globale COVID-19-Management, von den Reisebeschränkungen bis hin zu den Schutzmaßnahmen, übernommen. Tagesaktuell wurden Maßnahmenpläne erstellt, in verschiedene Sprachen übersetzt und allen Konzerngesellschaften zur Verfügung gestellt.

Die Arbeitsbedingungen an den Rosenbauer Standorten wurden so angepasst, dass das Infektionsrisiko minimiert wurde. Die umfangreichen Möglichkeiten der Telearbeit für Büroangestellte wurden beibehalten und Schicht- und Arbeitspläne so umgestaltet, dass notwendige Sicherheitsabstände eingehalten werden konnten. Ziel des Managements war es, durch die Anpassungen des Produktionsprogramms sowie durch die Nutzung von Kurzarbeit und anderen arbeitsplatzsichernden Maßnahmen die negativen Effekte so gering wie möglich zu halten.

Im Fall begründeter Verdachtsfälle wurden die betroffenen Personen weiterhin, noch vor dem Vorliegen eines amtlichen Testergebnisses, frühzeitig in Quarantäne geschickt, selbst wenn es dafür keinen Kostenersatz gab. Auch diese Maßnahme hat dazu beigetragen, die Fallzahlen an den Standorten gering zu halten.

Nach der Verfügbarkeit von Impfstoffen wurden so früh wie möglich Termine für eine Impfung im Unternehmen am Hauptstandort Leonding angeboten. Von dieser Möglichkeit haben in Summe mehr als 250 Mitarbeiterinnen und Mitarbeiter Gebrauch gemacht. Etliche andere Beschäftigte konnten bereits im Rahmen von zielgruppenspezifischen Aktionen davor geimpft werden.

Personalpolitik

Rosenbauer verfolgt eine konsequente Wachstumsstrategie, die von einem modernen Personalmanagement unterstützt wird. Wichtigste Ziele sind die Positionierung des Unternehmens als attraktiver Arbeitgeber in der Öffentlichkeit, die Implementierung von modernen Führungsinstrumenten in den operativen Prozessen, die Förderung von Internationalität und Diversität in der Mitarbeiterstruktur sowie die Schaffung von Rahmenbedingungen für eine leistungsorientierte Unternehmenskultur.

Das Unternehmen legt großen Wert auf fachlich wie sozial kompetente Mitarbeitende; es unterstützt diese gezielt bei der Weiterentwicklung ihrer Fähigkeiten. Neben einem umfangreichen Qualifizierungsangebot gibt es spezielle Programme für die Team- und Führungskräfteentwicklung. Die COVID-19-Pandemie hat Auswirkungen auf den mit Ende 2017 begonnenen wachstumsbedingten Personalaufbau.

Mit durchschnittlich 1.491 Mitarbeitern beschäftigte die Rosenbauer International AG im Jahr 2021 etwa gleich viel Mitarbeiter als zum Stichtag des Vorjahres (2020: 1.475). Die Gesamtzahl der Mitarbeiter gliedert sich in 788 Arbeiter (2020: 800), 613 Angestellte (2020: 580) und 90 Lehrlinge (2020: 95).

Personalentwicklung

Die Entwicklung und Qualifizierung der Mitarbeitenden ist eine der wichtigsten Aufgaben des HR-Managements. Rosenbauer evaluiert laufend das Angebot an Aus- und Weiterbildungsprogrammen und adaptiert es für gegebene strategische und organisationale Bedarfe. Diese umfassen vor allem technische und betriebswirtschaftliche Trainings, Seminare zur Verbesserung der Projektmanagement-Kompetenz, der Präsentationsfähigkeit, der Verhandlungs- und Gesprächsführung sowie der sozialen Kompetenzen, oder Angebote zum Erlernen und zur Perfektionierung von Fremdsprachen.

Um das Diversitätsbestreben durch Personalentwicklungsmaßnahmen zu unterstützen, wurden erstmals Unconscious Bias-Trainings angeboten. Trotz der anhaltenden Pandemie wurden 2021 im Konzern für Ausund Weiterbildungsmaßnahmen insgesamt 600 t€ (2020: 750 t€) aufgewendet. Die Trainings erfolgten dabei angepasst an die unterschiedlichen Regelungen in Präsenz, in hybriden oder virtuellen Formaten.

Die bewährten, aber aufgrund der Pandemie verschoben abgehaltenen Management-Programme wurden unter strenger Einhaltung aller Schutz- und Sicherheitsmaßnahmen im Jahr 2021 fortgesetzt. Das Rosenbauer Next-Level-Programm, das Führungskräfte aus allen Konzerngesellschaften auf ihre Führungsaufgaben vorbereiten und dazu beitragen soll, eine strategische Managementreserve aufzubauen, und dessen Ziel es ist, akademisch fundiert und praxisrelevant Management- und Leadership-Skills nachhaltig zu etablieren, konnte erfolgreich abgeschlossen werden. Das Programmportfolio wurde um das "Operations-Management Development Program" ergänzt, das im Jahr 2022 erstmalig durchgeführt werden wird. Das neue Programm orientiert sich an den bereits bewährten Management Programmen und richtet sich an Führungskräfte im Produktionsund produktionsnahen Bereich aller deutschsprachigen Konzerngesellschaften.

Der zweite Durchgang der Rosenbauer Sales & Purchase Academy – eine Maßnahme, die die komplette Vertriebs- und Einkaufsmannschaft bestmöglich auf künftige Herausforderungen vorbereiten soll – wurde erfolgreich abgeschlossen. Fokussiert auf den tatsächlichen Verkaufs- und Einkaufsalltag finden sich Themenschwerpunkte wie Kundenanalyse, Kommunikation & Präsentation sowie Verhandlungstechniken in dem Programm.

Die Lehrlingsausbildung hat bei Rosenbauer einen sehr hohen Stellenwert, die wichtigsten Lehrberufe waren Metalltechniker mit Schwerpunkt Maschinenbau, Mechatroniker und Industriekaufleute.

Chancengleichheit

Rosenbauer ist bestrebt, jedem Mitarbeiter und jeder Mitarbeiterin die gleichen Chancen einzuräumen – unabhängig von Abstammung, Alter, Geschlecht, Kultur oder Herkunft. Um die Diversität zu fördern, hat Rosenbauer 2021 die Initiative women@rosenbauer gegründet. Dieses Frauennetzwerk wurde seitens des Vorstandes für das Geschäftsjahr 2022 mit einem Budget ausgestattet, um weitere Wirksamkeit entfalten zu können. Im Vordergrund steht zunächst die Erhöhung der Frauenquote generell, besonders aber im Führungskreis der Rosenbauer International. Entsprechende Maßnahmen werden seitens des Bereiches Human Resources gemeinsam mit dem Frauennetzwerk erarbeitet und schrittweise umgesetzt.

In diesem traditionell von Männern geprägten Berufsfeld sind gezielte Maßnahmen zur Förderung von Frauen nötig. Women@rosenbauer zielt vor allem auf die Vernetzung der Mitarbeiterinnen ab, auf gegenseitige Unterstützung und Austausch. So wurden in mehreren Arbeitsgruppen Forderungen und Maßnahmen ausgearbeitet, die die Geschlechterausgewogenheit verbessern sollen. Dazu zählen beispielsweise eine intensivere Begleitung von Frauen und Männern in Karenz-, (Elternzeit), eine interne Website mit Informationen zum Thema Gleichstellung sowie die Ausarbeitung einer No-go-Policy, um das Miteinander aller Mitarbeitenden zu verbessern. Ein weiterer Schwerpunkt liegt auf dem Bereich Recruiting, der in Zukunft explizit mehr Frauen für Rosenbauer gewinnen möchte, insbesondere in technischen Berufen. Es werden mehrere Maßnahmen unterstützt, die Mädchen schon im Schulalter für die Technik begeistern sollen.

Dies spiegelt sich auch in der bevorzugten Aufnahme von weiblichen Lehrlingen wider. So werden schon seit einigen Jahren junge Frauen in den Lehrberufen Mechatronik und Metalltechnik ausgebildet bzw. sind diese mittlerweile bereits als Produktionsmitarbeiterinnen tätig.

FORSCHUNG UND ENTWICKLUNG

Der Schwerpunkt der Forschungs- und Entwicklungstätigkeit lag 2021 auf der Weiterentwicklung des bestehenden Produktangebotes und der Ausweitung der elektrischen Fahrzeugflotte. Die Vorstellung der Produktneuheiten erfolgte pandemiebedingt im Rahmen einer internationalen virtuellen Messe im März 2021. Dieses Format bietet den Vorteil, Kunden über alle Zeitzonen hinweg über die Neuheiten zu informieren und sich mit ihnen via Live-Chat auszutauschen.

Zu den wichtigsten Innovationen im Berichtsjahr zählen beispielsweise das RFC Battery Extinguishing System, ein innovatives Löschsystem für E-Autos, die BOROS Feuerwehrstiefel, der HEROS H30 Feuerwehrhelm sowie das neue Lüftersystem RTE AX B16. Darüber hinaus startete Rosenbauer mit der Realisierung der ersten E-Drehleiter auf Basis der L32A-XS.

2021 wurden in der Rosenbauer International AG 12,2 Mio € (2020: 10,3 Mio €) in Forschung und Entwicklung investiert. Das sind 4,1 % (2020: 4,4 %) der relevanten Nettoerlöse der Eigenproduktion. Die Aktivierungsquote betrug 27,2 % (2020: 15,6 %).

Löschfahrzeug mit Elektroantrieb

Mit dem Revolutionary Technology (RT) läutete Rosenbauer eine neue Ära der Löschfahrzeuge ein. Seit Anfang 2021 testen die Feuerwehren Amsterdam, Berlin und Dubai als Innovationspartner den RT und stellen die dabei gewonnenen Erkenntnisse für die Serienentwicklung und -produktion zur Verfügung. Den ersten Flottenauftrag für vier RTs erteilte die Berufsfeuerwehr des Kantons Basel-Stadt im Berichtsjahr. Im März 2022 erfolgte die Auslieferung des ersten RTX an das Los Angeles Fire Department, Kalifornien.

Als komplette Neuentwicklung verkörpert der RT die nächste Generation im Feuerwehrfahrzeugbereich. Nicht nur die Antriebstechnik ist revolutionär, sondern auch die Fahrzeugarchitektur und damit die komplette Aufbauphilosophie sowie die durchgängig intuitive Bedienbarkeit. So können alle Funktionen des RT, von der Beleuchtung bis hin zur Löschtechnik, digital gesteuert werden. Alle Fäden eines Einsatzes laufen im RT als Informations- und Kommandozentrale zusammen. Dafür baut er ein eigenes abgesichertes WLAN auf, fungiert als drahtloser Steuerstand für Roboter, Drohnen und Sensorsysteme und sorgt für die Vernetzung mit der Einsatzleitstelle, dem Datencenter, dem World Wide Web und in Zukunft mit dem Internet der Dinge (IoT).

Die Hochvolt-Batteriespeicher des RT liefern in der 132-kWh-Variante ausreichend Energie, um damit nicht nur den Fahrantrieb zu speisen, sondern einen kompletten Feuerwehreinsatz elektrisch abarbeiten zu können. Dies gilt sowohl für technische Einsätze als auch für kürzere Löscheinsätze, da die Pumpe ebenfalls elektrisch betrieben wird. Für längere Löscheinsätze ist im Fahrzeug ein Range Extender verbaut, der aus einem modernen 6-Zylinder-Dieselmotor und einem Stromgenerator besteht. Mit diesem Tandem wird der RT zu einem mobilen Kraftwerk, das nicht nur die Akkus automatisch wieder auflädt, wenn mehr Energie verbraucht wird, als in ihnen gespeichert ist, sondern auch an der Einsatzstelle eine Notstromversorgung sicherstellt.

Auszeichnungen für den Revolutionary Technology

Rosenbauer zählt zu den Vorreitern bei Produktentwicklungen und ist Weltmarktführer im Bereich abwehrender Brandschutz. Dies bescheinigen auch die erhaltenen Auszeichnungen wie der "Österreichische Staatspreis für Innovation".

Mit dem Staatspreis Innovation werden jährlich herausragende Leistungen von heimischen Unternehmen gewürdigt. Er wird im Auftrag des österreichischen Bundesministeriums für Digitalisierung und Wirtschaftsstandort von der Austria Wirtschaftsservice GmbH organisiert. Die Teilnehmenden kommen aus allen österreichischen Bundesländern, die diese im Rahmen eigener regionaler Innovationspreisen ermitteln. Marktreif sollten die eingereichten Innovationen sein und erste Erfahrungen über ihre Auswirkungen bereits vorliegen. Beim Rosenbauer Revolutionary Technology war beides der Fall.

Der RT vereint Design, Anwenderfreundlichkeit, Nachhaltigkeit und zukunftsweisende Technologien, die den Feuerwehren den Weg in eine nachhaltige und digitale Zukunft ebnen. Dies überzeugte auch die Red Dot Jury, die den RT mit dem Red Dot Design Award 2021 in der Kategorie Product Design auszeichnete.

Rosenbauer schätzt den weltweiten Markt für den RT auf mehr als 3.200 Fahrzeuge bis 2030, wobei die Nachfrage nicht nur von kommunalen Feuerwehren, sondern auch von Flughafenbetreibern und Industrieunternehmen kommt. In Europa könnten 2025 bereits 700 bis 800 derartige Feuerwehrfahrzeuge im Einsatz sein.

Erweiterung der elektrischen Fahrzeugflotte

Im Berichtsjahr erfolgte mit der Elektrifizierung der ersten Drehleiter L32A-XS auf einem Volvo FE Electric Chassis auch der Startschuss für die Erweiterung der elektrischen Fahrzeugflotte. Das in den letzten Jahren erarbeitete Know-how im Bereich der Hochvolt-Technologie fließt in diese Entwicklung maßgeblich ein. Die Funktionalität und der Nutzen haben dabei oberste Priorität. Eine E-Drehleiter muss ebenso funktionell, leistungsfähig und zuverlässig sein wie die bewährte Standarddrehleiter. Der Prototyp auf Basis der DIN EN 14043:2014 und EN 1846 soll im Sommer 2022 präsentiert werden. Mit Schutz & Rettung Zürich, der größten zivilen Rettungsorganisation in der Schweiz, steht auch bereits der erste Leadkunde für den Testbetrieb fest. Mit der E-Drehleiter L32A-XS unterstreicht Rosenbauer seine führende Rolle als Trendsetter in der Feuerwehrbranche.

Bereits heute bietet Rosenbauer seinen Kunden die Möglichkeit der Wahl: Das gewünschte elektrische Kommunalfahrzeug entweder auf einem von Rosenbauer entwickelten Chassis wie beim RT oder auf einem Serienchassis wie bei der E-Drehleiter oder dem Logistikfahrzeug fertigen zu lassen.

Es ist geplant das Angebot der elektrischen Fahrzeugflotte sukzessive auszubauen, mit dem Ziel 2023 in jeder Fahrzeugkategorie ein Modell mit alternativem Antrieb anbieten zu können. Das nächste Modell wird im Juni auf der Interschutz 2022 der Öffentlichkeit präsentiert.

Digitale Produkte und Services

Rosenbauer Digital Solutions hat intensiv an der Weiterentwicklung der Produkte gearbeitet, um die digitale Kundenerfahrung zu verbessern. So wurde ein neues Dashboard für RDS Connected Fleet entwickelt, über das Fahrzeug- und Flottendaten in Echtzeit abrufbar und analysierbar sind. Mit Connected Command bietet RDS eine 360-Grad-Sicht auf alle relevanten Informationen zum Einsatzort in Echtzeit. Alle Daten laufen über die gesicherte europäische RDS-Cloud.

2022 wird eine Mobile App von RDS Connected Command entwickelt und in die verstärkte Einbindung von weiteren Rosenbauer und Partnerprodukten investiert. Das Nutzerwachstum und die Steigerung der Kundenzufriedenheit sind bei digitalen Produkten die wesentlichen Ziele für die Positionierung von Rosenbauer als Technologie- und Innovationsführer.

Innovatives Batteriebrandlöschsystem für E-Autos

Laut Verband der europäischen Autohersteller (ACEA) stieg die Zahl der Neuzulassungen von vollelektrischen Autos in der EU 2021 um 63 % gegenüber dem Jahr davor. Dies entspricht etwa 880.000 neuen Fahrzeugen, die nun auf Europas Straßen unterwegs sind. Die ständig steigende Zahl von E-Autos stellt auch Feuerwehren vor neue Herausforderungen in der Brandbekämpfung.

Rosenbauer hat mit dem RFC Battery Extinguishing System ein Löschsystem für ein schnelles und sicheres Löschen von Batterien basierend auf Lithium-Ionen-Technologie auf den Markt gebracht. Das Löschsystem bringt das Löschwasser genau dorthin, wo es zur Kühlung der Zellen und Module benötigt wird – direkt in das Akkugehäuse. Hierfür wird der Löschdorn mit einer Kraft von mehreren Tonnen in den Akku getrieben und das Löschwasser durch die perforierte Löschlanze direkt im Inneren des Akkus ausgebracht. Das Wasser füllt das Akkugehäuse vollständig und führt damit zu einer effizienten Kühlung. Die Wassermenge eines normalen TLF/ HLF reicht aus, um den Löscherfolg sicherzustellen. Für die Versorgung mit Löschwasser genügt eine Normaldruck-Pumpe. Dadurch wird sehr ressourcenschonend gelöscht und die Ausbreitung der Rauchgase auf ein Minimum reduziert.

Die Einsatzkräfte müssen sich dafür nur kurz in der Nähe des brennenden Fahrzeuges aufhalten, da das System über die Bedieneinheit aus der Entfernung aktiviert werden kann. Das System vereint somit Sicherheit für die Einsatzkräfte und Effizienz in der Brandbekämpfung.

INFORMATIONEN GEMÄSS § 243A ABS. 1 UGB

Rosenbauer ist mit Stückaktien im Prime Market der Wiener Börse gelistet. Das Grundkapital der Rosenbauer International AG beträgt 13,6 Mio €, eingeteilt in 6.800.000 nennbetragslose Stückaktien, die jeweils einen anteiligen Betrag am Grundkapital von 2,0 € verbriefen. 3.665.912 Aktien lauten auf Namen und 3.134.088 sind Inhaberaktien. Jede Rosenbauer Aktie berechtigt zu einer Stimme.

Die Rosenbauer Beteiligungsverwaltung GmbH (BVG) hält 51% der Anteile an der Rosenbauer International AG. Die BVG hat die Übertragung ihrer Aktien an Dritte an eine Mehrheit von 75% der Stimmen gebunden. Unter Beachtung der Gleichbehandlung liegen bezüglich der Stimmrechte oder der Übertragung von Aktien keine Beschränkungen vor, sofern der Anteil an Inhaberaktien am Grundkapital der Gesellschaft zu keinem Zeitpunkt unter 40% liegt. Ein Gesellschafter der Rosenbauer Beteiligungsverwaltung GmbH hält indirekt durchgerechnet 11,9% der Anteile an der Rosenbauer International AG. Es gibt keine Inhaber von Aktien mit besonderen Kontrollrechten. Mitarbeiterinnen und Mitarbeiter, die Aktien besitzen, üben ihre Stimmrechte direkt aus.

In der Satzung der Rosenbauer International AG sind die Bestimmungen zur Ernennung und Abberufung der Mitglieder des Vorstandes und des Aufsichtsrates festgelegt. Zum Mitglied des Vorstandes kann nur bestellt werden, wer das 65. Lebensjahr zum Zeitpunkt der Bestellung noch nicht vollendet hat. Die Bestellung einer Person zum Mitglied des Vorstandes, die zum Zeitpunkt der Bestellung das 65. Lebensjahr bereits vollendet hat, ist jedoch dann zulässig, wenn mit entsprechendem Beschluss der Hauptversammlung die Zustimmung mit einfacher Mehrheit der abgegebenen Stimmen erteilt wird. In den Aufsichtsrat kann nur gewählt werden, wer

das 70. Lebensjahr zum Zeitpunkt der Wahl noch nicht vollendet hat. Die Wahl einer Person zum Mitglied des Aufsichtsrates, die zum Zeitpunkt der Wahl das 70. Lebensjahr bereits vollendet hat, ist jedoch zulässig, wenn der entsprechende Beschluss in der Hauptversammlung mit einfacher Mehrheit der abgegebenen Stimmen gefasst wird.

Für den Fall eines öffentlichen Übernahmeangebotes gibt es keine Entschädigungsvereinbarungen zwischen der Gesellschaft, ihren Vorstands- und Aufsichtsratsmitgliedern oder den Mitarbeiterinnen und Mitarbeitern.

Der Corporate-Governance-Bericht des Rosenbauer Konzerns ist auf der Website www.rosenbauer.com/de/at/ group im Kapitel "Investor Relations" unter "Corporate Governance" veröffentlicht.

RISIKEN UND CHANCEN

Risikomanagement

Rosenbauer ist in seinem unternehmerischen Handeln mit unterschiedlichen Risiken konfrontiert. Die kontinuierliche Identifizierung, Bewertung und Steuerung dieser Risiken ist integraler Bestandteil des Führungs-, Planungsund Controlling-Prozesses. Das Risikomanagement greift auf die im Konzern vorhandenen Organisations-, Berichts- und Führungsstrukturen zurück und ergänzt diese um spezifische Elemente, die zur ordnungsgemäßen Risikobeurteilung erforderlich sind. Im Kern besteht das Rosenbauer Risikomanagement aus fünf Elementen:

• der schriftlich ausformulierten Risikostrategie sowie
• der ergänzenden Risikopolitik zusammengefasst in einem konzernweit gültigen Risikomanagement-Hand buch,
• einer definierten Organisationsstruktur mit Risiko-
• verantwortlichen in den als Risk Unit definierten Areas, Tochtergesellschaften und Abteilungen sowie einem zentralem Group Risk Manager,
• einer regelmäßigen Risikoerfassung und -bewertung
• in allen Risk Units,
• der Reporting-Struktur des Konzerns und
• dem Risikobericht auf Konzernebene und Auswertungen auf der Ebene einzelner Risk Units.

Systematische Überwachung

Das Rosenbauer Risikomanagement wurde im Jahr 2021 von Grund auf überarbeitet. Dabei wurden neben einem neuen System auch die Risikomanagementprozesse weiterentwickelt und die Rollen und Aufgaben an die geänderte Risikostruktur angepasst.

Das Risikomanagement wird in dem neuen System abgebildet, das eine übersichtliche Darstellung der im Rosenbauerkonzern vorhandenen Risiken auf der Ebene der jeweiligen Risk Unit ermöglicht. Die Identifikation und Erfassung der Geschäftsrisiken wird mittels eines strukturierten Prozesses zweimal jährlich durchgeführt, bei dem die Risikoverantwortlichen durch den Group Risk Manager intensiv begleitet und unterstützt werden.

Die Bewertung der Risiken erfolgt im Hinblick auf ihre Eintrittswahrscheinlichkeit und ihre allfällige Auswirkung auf das EBT. Als Hilfestellung sind in einem Katalog zehn Risikokategorien erfasst, in die die identifizierten Risiken, die eine Bedrohung für das Unternehmen darstellen können, eingeordnet werden. Darüber hinaus ermöglicht es das neue System, auch Chancen im Risikomanagementprozess zu berücksichtigen. Diese werden analog den Risiken mit ihrer Eintrittswahrscheinlichkeit und Auswirkung auf das EBT bewertet.

Aus der Risikoanalyse werden auf operativer Ebene die erforderlichen Kontroll- und Steuerungsmaßnahmen und die Instrumente zur Risikobewältigung als definierte Maßnahmen abgeleitet und den jeweiligen Risiken zugeordnet. Verantwortlich für die Umsetzung sind die Risikoverantwortlichen in den einzelnen Risk Units. Darüber hinaus werden die Ergebnisse der Risikoinventur einmal jährlich an den Prüfungsausschuss berichtet. Im Zuge dieses Termins werden auch die generelle Funktionsfähigkeit und die Wirksamkeit des Systems beurteilt.

Im Jahr 2021 wurde eine Prüfung durch einen externen Auditor durchgeführt, um das Design und die Implementierung des Risikomanagements des Rosenbauer Konzerns gemäß der C-Regel 83 ÖCGK zu beurteilen.

Internes Kontrollsystem

Das Interne Kontrollsystem (IKS) hat die Aufgabe, die Effektivität und Effizienz der Geschäftstätigkeit zu sichern. Es besteht aus systematisch gestalteten organisatorischen Maßnahmen und Kontrollen zur Einhaltung von internen und externen Richtlinien sowie zur Abwehr von Schäden, die beispielsweise durch ungeregelte oder unrechtmäßige Handlungen verursacht werden können. Die Kontrollen sind direkt in die unternehmerischen Prozesse und Abläufe integriert. Darüber hinaus erfolgen prozessunabhängige Prüfungen der Wirksamkeit der Kontrollen durch die Interne Revision.

Zielgerichtetes Kontrollumfeld

Eine wichtige Basis des IKS stellen die unternehmensweit gültigen Regelungen und Richtlinien dar. Dazu kommen die im Integrierten Managementsystem verankerten Prozessdarstellungen und hinterlegten Arbeitsanweisungen. Im Rahmen von internen Audits wird kontrolliert, ob diese Richtlinien eingehalten und die Prozesse sauber ausgeführt werden. Die Ergebnisse werden dokumentiert, Empfehlungen abgeleitet und die operative Umsetzung wird überwacht.

Einheitliche Rechnungslegung

Das Kontrollumfeld des Rechnungslegungsprozesses ist durch eine klare Aufbau- und Ablauforganisation gekennzeichnet. Sämtliche Funktionen sind eindeutig Personen (zum Beispiel in Finanzbuchhaltung oder Controlling) zugeordnet. Die am Rechnungslegungsprozess beteiligten Mitarbeitenden erfüllen alle fachlichen Voraussetzungen. Bei den relevanten Prozessen der Rechnungslegung wird, soweit es die Größe der jeweiligen Gesellschaft zulässt, auf ein Vier-Augen-Prinzip geachtet. Bei den verwendeten Finanzbuchhaltungssystemen handelt es sich überwiegend um Standardsoftware, die gegen unbefugte Zugriffe geschützt ist. Auf den Rechnungslegungsprozess bezogene wesentliche Bilanzierungs- und Bewertungsgrundsätze sind in einem Konzernhandbuch verbindlich festgelegt.

Detaillierte Finanzberichte

Die Vollständigkeit und Richtigkeit der Daten im Rechnungswesen wird regelmäßig anhand von Stichproben und Plausibilitätsprüfungen überprüft. Zudem erfolgen laufende Analysen durch das konzernweite Controlling und Treasury. Detaillierte Finanzberichte werden auf Monats- und Quartalsbasis erstellt bzw. sind täglich aktuell abrufbar, um Abweichungen in der Ertrags- und Vermögenslage von den Planzahlen rasch identifizieren und beheben zu können.

Klare Zuständigkeiten

Dieses ausgeprägte Regelungs- und Berichtssystem gibt neben den prozessorientierten Rahmenbedingungen vor allem ablauforientierte Maßnahmen vor, die von sämtlichen betroffenen Einheiten umgesetzt werden müssen. Die operative Verantwortung liegt bei den jeweiligen Prozessverantwortlichen. Die Einhaltung des Rosenbauer Regelwerks wird durch die Interne Revision im Rahmen der periodischen Prüfungen der einzelnen Bereiche überwacht.

Erläuterung der Einzelrisiken

Umfeld- und Branchenrisiken

Globale Erwärmung – Risiken und Chancen

Im Jahr 2020 wurde mit Unterstützung einer externen Beratung eine Analyse der klimabezogenen Risiken und Chancen durchgeführt. Dabei wurden die Empfehlungen der Taskforce on Climate-related Financial Disclosures (TCFD) angewandt. Hier erfolgte in einem ersten Schritt die Identifikation von jenen klimabezogenen Risiken und Chancen, die für Rosenbauer potenziell finanziell relevant sein könnten. Diese identifizierten klimabezogenen Risiken und Chancen wurden in der Folge einer Bewertung hinsichtlich ihrer finanziellen Auswirkungen auf Rosenbauer und ihrer Eintrittswahrscheinlichkeit unterzogen.

Als wesentlichste klimabezogene Herausforderung wurden die physischen Klimarisiken für die Rosenbauer Produktions- und Montagestandorte identifiziert, als wesentlichste klimabezogene Chance der allgemein zunehmende Bedarf an Brandschutzprodukten sowie die Chancen für neue Rosenbauer Produkte und Services. Weiterführende Informationen finden Sie im Nachhaltigkeitsbericht 2021 von Rosenbauer.

Rosenbauer ist Unterstützer der TCFD.

Marktrisiken und -chancen

Das internationale Feuerwehrgeschäft ist ein typischer Nachläufer und reagiert erst mit einer Verzögerung von zwölf bis 24 Monaten auf konjunkturelle Schwächen. Das liegt daran, dass die Kunden überwiegend aus dem öffentlichen Sektor kommen, ihre Beschaffungen langfristig planen und mit ihren Investitionen auch antizyklisch Impulse setzen wollen.

Bei der Beurteilung marktwirtschaftlicher Risiken und Chancen orientiert sich Rosenbauer an den Annahmen führender Institutionen über die wirtschaftliche Entwicklung in den einzelnen Regionen und Ländern. Auch nach Elementarereignissen und Naturkatastrophen wird verstärkt in Feuerwehrtechnik investiert. Planbar sind diese Beschaffungen zwar nicht, bieten aber immer wieder zusätzliche Absatzchancen für die Feuerwehrausstatter. Rosenbauer analysiert regelmäßig die maßgeblichen Branchenrisiken und nutzt Chancen durch rasches Reagieren auf Marktveränderungen.

Die jährliche Geschäftsplanung wird aus der Mittelfristplanung abgeleitet und umfasst einen nach Regionen und Produkten gegliederten Zielkatalog, der als Steuerungsinstrument dient. So können Chancen und strategische Risiken frühzeitig erkannt werden. Zur nachhaltigen Absicherung des Wachstums verfolgt Rosenbauer eine konsequente Internationalisierungsstrategie. Mit Produktionsstätten auf drei Kontinenten und einem weltweiten Vertriebsund Servicenetz lassen sich Absatzschwankungen in einzelnen Märkten ausgleichen.

Wettbewerbs- und Preisdruck

Der größte Wettbewerbs- und Preisdruck in der Feuerwehrbranche herrscht bei Kommunalfahrzeugen. Die zunehmende Zentralisierung des Beschaffungswesens bietet durch die Förderung eines fairen Wettbewerbs und transparentere Prozesse Chancen, birgt aber auch durch die Bündelung der Beschaffung das Risiko, Großaufträge zu verlieren.

Rosenbauer analysiert und überwacht permanent die Markt- und Absatzentwicklung in den einzelnen Ländern bzw. Areas und hat für jeden Vertriebs- und Produktbereich klar definiert, wie dabei strategisch vorzugehen ist und welche Wachstumsziele verfolgt werden.

Risiken infolge gesetzlicher und politischer Rahmenbedingungen

Risiken, die sich für das Feuerwehrgeschäft aufgrund politisch oder rechtlich veränderter Rahmenbedingungen ergeben, können kaum abgesichert werden. Wegen der überwiegend öffentlichen Abnehmer kommt es allerdings nur in Ausnahmefällen zu Stornierungen von Aufträgen. Durch politische Krisen oder allfällige Embargobestimmungen kann der Zugang zu bestimmten Märkten vorübergehend eingeschränkt sein.

Viele Länder haben in letzter Zeit strengere Regelungen hinsichtlich des Einsatzes von gefährlichen Substanzen erlassen. Die Nichteinhaltung der einschlägigen Vorschriften kann mit erheblichen Strafen und Reputationsrisiken verbunden sein. Gefährliche Substanzen kommen in fluorhaltigen Löschmitteln vor. Spezielle Vorkehrungen zur Vermeidung von gefährlichen Substanzen erhöhen die Produktanforderungen. Rosenbauer begegnet den strengeren Bestimmungen mit der Entwicklung von speziellen Zumischsystemen und Werfern, die den Einsatz von fluorfreien Schaummitteln ermöglichen und damit Umwelt und Mensch schützen.

In der Produktion wird gefährlichen Substanzen, die die Gesundheit gefährden können, durch die laufende Überwachung der Risikoarbeitsplätze sowie durch die Einhaltung lokaler Vorschriften entgegengetreten.

Betriebliche Risiken

Produktionsrisiken und -chancen

Die Produktionstätigkeit erfordert eine intensive Auseinandersetzung mit den Risiken entlang der Wertschöpfungskette. Im Zuge sich verkürzender Innovationszyklen kommt der Forschungs- und Entwicklungsarbeit wachsende Bedeutung zu. Die potenziellen Produktionsrisiken werden über eine Reihe von Kennzahlen (Produktivität, Montage- und Durchlaufzeiten, Produktionsstückzahlen, Qualität, Kosten etc.) permanent überwacht. Das zentrale Steuerungselement in der Fahrzeugfertigung ist neben Kennzahlen vor Ort die "mitlaufende Kalkulation", bei der im Soll-Ist-Vergleich die Herstellkosten jedes Einzelauftrages überwacht werden. Zur Abfederung von Veränderungen in der Auslastung einzelner Standorte fertigt Rosenbauer im Konzernverbund und vergibt Fertigungsaufträge auch an externe Partner. Dadurch wird das Risiko einer Unterauslastung der Produktion im Falle eines deutlichen Marktrückganges in Grenzen gehalten.

Ertragsrisiken, die sich aufgrund von externen Störungen in der Produktion ergeben können, werden durch entsprechende Produktionsausfallsversicherungen abgedeckt. Eine angemessene Versicherungsdeckung besteht auch für Risiken im Zusammenhang mit Feuer, Explosionen und ähnlichen elementaren Gefahren.

Produktrisiken und -chancen

Rosenbauer betreibt ein konsequentes Qualitätsmanagement nach ISO 9001. Dieses wird laufend auditiert und trägt wesentlich dazu bei, weltweit eine einheitlich hohe Produktqualität zu gewährleisten und Haftungsrisiken aus Produktmängeln zu minimieren. Moderne Entwicklungsmethoden, die permanente Kontrolle und Verbesserung der Produktqualität sowie laufende Prozessoptimierungen tragen ebenfalls zur Verringerung von Risiken bei.

Zur Reduzierung möglicher finanzieller Risiken wird im Konzern neben dem Risikomanagementsystem auch das Instrument der Produkthaftpflichtversicherung eingesetzt. Um Produkte mit höchstmöglichem Kundennutzen anbieten zu können, betreibt Rosenbauer ein systematisches Innovationsmanagement und arbeitet in der Produktentwicklung eng mit den Feuerwehren zusammen. Ein professionelles Produktmanagement gibt die Richtung im Entwicklungsprozess vor. Im Rahmen einer Technologie-Roadmap werden Marktanalysen und Wirtschaftlichkeitsüberlegungen miteinbezogen.

Die demografische Entwicklung zieht eine Veränderung der Personalbasis der Feuerwehren nach sich und stellt damit auch die Hersteller von Feuerwehrtechnik vor neue Herausforderungen. Frauen und ältere Menschen

werden künftig vermehrt im Feuerwehrdienst tätig sein, Technik und Ausrüstung müssen demnach so gestaltet werden, dass sie deren Bedürfnissen in der Bedienung entgegenkommen. Rosenbauer beschäftigt sich im Innovations-, Technologie- und Wissensmanagement sowie in der Produktentwicklung intensiv mit diesen Herausforderungen und bindet die Feuerwehren als Partner auch in den Entwicklungsprozess mit ein.

Beschaffungs- und Einkaufsrisiken

Als Beschaffungs- und Einkaufsrisiken sind insbesondere Lieferausfälle, Preiserhöhungen, Qualitätsprobleme und andere Verwerfungen der Supply Chains zu betrachten. Im zweiten Pandemiejahr 2021 wurde die Widerstandsfähigkeit der Lieferketten auf eine harte Probe gestellt. Es war das erklärte Ziel, eine weitgehend stabile Materialversorgung der Produktion sowie der Kunden zu gewährleisten.

Ein entscheidender Baustein für die Fahrzeugfertigung ist dabei die termingerechte Bereitstellung von Fahrgestellen. Diese Versorgungssicherheit durch die Fahrgestellhersteller war etwa durch mangelnde Verfügbarkeit von Elektronikbauteilen nicht in der gewohnten Weise gewährleistet. Generell war das vergangene Jahr durch viele Störungen in den globalen Lieferketten gekennzeichnet. In vielen Materialgruppen kam es zu deutlich erhöhten Lieferzeiten. Die Entwicklungen der Rohstoffpreise wie Stahl oder Aluminium schlugen sich sukzessive in den Preisen des Beschaffungsmaterials nieder. Die zuletzt angestiegenen Energiekosten verstärkten ebenfalls den Preisdruck im Markt.

Um für die Herausforderungen an die Beschaffung gewappnet zu sein, wurde der proaktive Kontakt mit den Lieferanten intensiviert. In diesem Zusammenhang wird vorausschauender mit den Partnern geplant, um den gestiegenen Laufzeiten und Preisentwicklungen Rechnung zu tragen. Die Standardisierung von Bauteilen und Komponenten, die Diversifizierung der Lieferantenstruktur sowie eine nachhaltige Beschaffungsstrategie wirken diesen Risiken zusätzlich entgegen. Um die termin- und qualitätskonforme Versorgung der Produktion sicherzustellen, werden die wichtigsten Zulieferer überwacht sowie die Planung und Steuerung der Lieferkette gemeinsam mit den Lieferanten laufend weiterentwickelt. Dadurch kann das Risiko von Produktionsstörungen oder Ausfällen reduziert werden.

Rosenbauer benötigt in erster Linie Aluminium-, Stahl- und Kunststoffteile. Durch eine weitblickende Einkaufspolitik werden auch in schwierigem Umfeld möglichst niedrige Einkaufspreise abgesichert. In der Produktion wird aufgrund der überwiegenden Montagetätigkeit nur wenig Prozessenergie benötigt.

Informationstechnische Risiken

Je vernetzter ein Unternehmen ist, umso größer ist das Cyberrisiko. Unter dem Begriff "Cyberrisiko" werden viele Einzelrisiken zusammengefasst, die aus einem potenziellen Cyber-Angriff resultieren können. Im Wesentlichen sind das die Verletzung der Vertraulichkeit von Daten (Ausspähen, Datenverlust), die Verletzung der Integrität des IT-Systems oder der Daten (Manipulation durch Schadsoftware), die Verletzung der Verfügbarkeit des IT-Systems oder der Daten (Unterbrechungen im internen Bereich, Ausfall von Kommunikationswegen) und Ähnliches.

Damit erst gar kein Cyberrisiko schlagend wird, legt Rosenbauer großes Augenmerk auf eine sichere IT-Infrastruktur. Diesen Risiken wird durch regelmäßige Investitionen in Hard- und Software, den Einsatz von "State-ofthe-Art" IT-Security-Systemen, modernen Datensicherungsmethoden sowie durch strukturierte Zugangs- und Zugriffskontrollen begegnet. Die Robustheit der Sicherheitssysteme wird zudem durch simulierte Angriffe von außen getestet. Die technischen Maßnahmen werden flankierend durch gezielte, regelmäßige IT-Security- und Datenschutz-Awareness-Trainings der Mitarbeitenden unterstützt.

Umweltrisiken

Die Produktionstätigkeit des Rosenbauer Konzerns besteht im Wesentlichen aus Montagearbeiten und birgt daher kaum Umweltrisiken. Darüber hinaus gelten für die Prozesse klare Umweltstandards und Anweisungen, die in einem Umweltmanagementsystem nach ISO 14001 dokumentiert sind und laufend durch interne wie externe Audits überprüft und weiterentwickelt werden. Das Energiemanagement an den österreichischen und deutschen Fertigungsstandorten ist nach ISO 50001 zertifiziert und dient als Instrument, mit dem Energiekosten und -verbräuche überprüft und Maßnahmen zur Reduktion des Ressourcenverbrauchs abgeleitet werden.

Personelle Chancen und Risiken

Rosenbauer steht in einem veritablen Wettbewerb um die besten Köpfe. Der Unternehmenserfolg hängt entscheidend davon ab, wie gut es gelingt, Fachpersonal zu gewinnen, zu integrieren und an das Unternehmen zu binden.

Ein leistungsorientiertes Entgeltsystem mit Beteiligung am Unternehmenserfolg sowie ein ausgeprägtes Talent-Management sind zwei der Instrumente, die Rosenbauer dabei einsetzt. Für die Personalgewinnung sorgen unter anderem Kooperationen mit Bildungseinrichtungen und ein umfassendes Management der Praktikantinnen und Praktikanten. Vielfältige Aus- und Weiterbildungsmöglichkeiten tragen dazu bei, die Mitarbeitenden im Unternehmen zu halten. Außerdem beschäftigt sich Rosenbauer intensiv mit der Nachfolgeplanung für Schlüsselpositionen im Management.

Das Unternehmen nimmt die demografische Entwicklung zum Anlass, mit den Veränderungen durch eine älter werdende Belegschaft umzugehen und einen qualifizierten Fach- und Führungskräftenachwuchs mit entsprechender Vielfalt hinsichtlich Sprache, Geschlecht und Internationalität zu sichern. Um Frauen für die Technik zu gewinnen, bildet Rosenbauer vermehrt weibliche Lehrlinge aus und führt diese gezielt auch an Produktionstätigkeiten heran.

Rechtliche Risiken

Die Rosenbauer International AG und ihre Tochtergesellschaften sind im Rahmen der Geschäftstätigkeit mit rechtlichen Verfahren, Ansprüchen und behördlichen Untersuchungen konfrontiert. Diese können unter anderem die Produktsicherheit, Patente sowie andere Immaterialgüterrechte, Händler-, Lieferanten- und weitere Vertragsbeziehungen betreffen sowie zu wettbewerbsrechtlichen Verfahren führen.

Im Rahmen der Erstellung des Jahresabschlusses 2017 der Rosenbauer Deutschland GmbH wurden Unregelmäßigkeiten festgestellt. Die in diesem Zusammenhang eingeleiteten Untersuchungen konnten zum Jahresende 2018 abgeschlossen werden. Die Verfahren zur Geltendmachung von Ansprüchen auf dem Zivilrechtsweg wurden eingeleitet und sind derzeit noch offen.

Die Rosenbauer International AG wurde Ende Jänner 2022 informiert, dass im Zusammenhang mit einer Steuerfahndungsprüfung gegen einen ehemaligen Geschäftsführer von Tochterunternehmen eine Steuerverbindlichkeit droht. Die Steuerverbindlichkeit bezieht sich dabei auf einen Zeitraum, in dem die betroffenen Tochterunternehmen noch nicht im Eigentum der Rosenbauer International AG standen. Im Jahresabschluss ist eine Steuernachforderung gegen den vormaligen Geschäftsführer und wirtschaftlichen Eigentümer eines Tochterunternehmens in Höhe von 3,4 Mio €, die die Rosenbauer International AG als Rechtsnachfolgerin in einem ersten Schritt tragen muss, bilanziell berücksichtigt. Rechtliche Schritte gegen den ehemaligen Geschäftsführer und die vormalige Eigentümerin der Tochterunternehmen wurden eingeleitet.

Compliance-Risiken wird im Rahmen des Rosenbauer Compliance-Managements begegnet. Regelmäßige Schulungen zielen darauf ab, Compliance-relevanten Verstößen vorzubeugen. Für das Melden von Verdachtsfällen in Bezug auf Kartellrecht, Korruption, Wirtschaftskriminalität, Diskriminierung oder auch sexuelle Belästigung steht allen Mitarbeitenden, Lieferanten und Geschäftspartnern seit Mitte Dezember 2021 eine anonyme Hinweisgeberplattform zu Verfügung. Mit der Einführung dieses Hinweisgebersystems entspricht Rosenbauer der EU-Richtlinie zum Schutz von Personen, die Verstöße gegen das Unionsrecht melden.

Finanzielle Risiken

Eine solide Finanzbasis ist für ein international tätiges Unternehmen von großer Bedeutung. Dank der guten Eigenmittelausstattung und der hervorragenden Bonität des Rosenbauer Konzerns konnten die benötigten Betriebsmittel- und Investitionsfinanzierungen ohne Einschränkungen und zu sehr guten Konditionen sichergestellt werden.

Zins- und Währungsrisiken

Aus den internationalen Aktivitäten entstehen zins- und währungsbedingte Risiken, die durch den Einsatz entsprechender Sicherungsinstrumente abgedeckt werden. Dabei regelt eine konzernweit geltende Finanz- und Treasury-Richtlinie, welche Instrumente zulässig sind. Die operativen Risiken werden durch derivative Finanzinstrumente wie zum Beispiel Devisentermingeschäfte sowie Zinssicherungsgeschäfte abgesichert. Diese Transaktionen werden ausschließlich zur Absicherung von Risiken, nicht hingegen zu Handels- oder Spekulationszwecken durchgeführt. In diesem Zusammenhang wird auf die Ausführungen in den Erläuternden Angaben im Konzernabschluss verwiesen.

Kreditrisiken

Kreditrisiken, die sich aus Zahlungsausfällen ergeben können, werden gering eingeschätzt, da der überwiegende Teil der Kunden öffentliche Abnehmer sind. Bei Lieferungen in Länder mit einem erhöhten politischen oder wirtschaftlichen Risiko werden zur Absicherung staatliche und private Exportversicherungen in Anspruch genommen.

Beurteilung des Gesamtrisikos

Rosenbauer sieht sich gut aufgestellt, um die Anforderungen, die von den Kunden, den Märkten, vom wirtschaftlichen Umfeld und im internationalen Wettbewerb an das Unternehmen gestellt werden, auch künftig zu erfüllen. Aus der Analyse der derzeit erkennbaren Einzelrisiken ergeben sich keine Anhaltspunkte, die – für sich genommen oder in Kombination mit anderen Risiken – den Fortbestand des Konzerns gefährden könnten. Dies gilt sowohl für die Ergebnisse der abgeschlossenen wirtschaftlichen Tätigkeit als auch für Aktivitäten, die geplant oder bereits eingeleitet worden sind.

Nachtragsbericht

Zur COVID-19-Pandemie und den daraus folgenden Schwierigkeiten in den Lieferketten und in der Produktionsplanung, verstärkt sich der Druck auf den internationalen Energie- und Rohstoffmärkten durch den Ende Februar begonnen Ukraine-Krieg. Rosenbauer ist zwar nicht direkt durch diese Krisen betroffen, allerdings werden die schwierigen Rahmenbedingungen, die auch das Jahr 2021 belastet haben, weiter anhalten. Eine wesentliche Auswirkung auf die Werthaltigkeit der Bilanzansätze zum 31.12.2021 haben die Krisen derzeit nicht, allerdings wird das Erreichen der Ziele für das Jahr 2022 zunehmend schwieriger.

Neben den globalen Krisen sind nach dem Bilanzstichtag zum 31. Dezember 2021 keine weiteren Vorgänge von besonderer Bedeutung für die Gesellschaft eingetreten, die zu einer Änderung der Vermögens-, Finanz- und Ertragslage geführt hätten.

PROGNOSEBERICHT

Gesamtwirtschaftliche Entwicklung1

Die Weltwirtschaft hat das Jahr 2022 schwächer begonnen als erwartet. Angesichts der rasanten Ausbreitung der neuen COVID-19-Variante Omikron haben viele Länder wieder Mobilitätsbeschränkungen eingeführt. Steigende Energiepreise haben zusammen mit Lieferkettenstörungen vor allem in den USA sowie in zahlreichen Schwellenmärkten und Entwicklungsländern zu einer höheren und breit basierten Inflation geführt. Die anhaltenden Ausgabenkürzungen in Chinas Immobiliensektor und die langsamere Erholung des Privatkonsums begrenzen zusätzlich die Wachstumsaussichten.

Im laufenden Jahr 2022 wird sich deshalb nach Berechnungen des IWF das globale Wirtschaftswachstum von zuletzt 5,9 % auf 4,4 % verlangsamen. Dieser Wert liegt um einen halben Prozentpunkt unter der Prognose vom vergangenen Oktober und spiegelt die Rückstufungen der größten Volkswirtschaften wider. So wurde die Vorhersage für die USA wegen der früheren Beendigung der akkommodierenden Geldpolitik durch die US-Notenbank und der anhaltenden Lieferkettenprobleme um 1,2 Prozentpunkte zurückgenommen, der Ausblick für China wurde wegen der Unterbrechungen durch die Null-Toleranz-Politik in der Pandemiebekämpfung und des langwierigen finanziellen Drucks unter Immobilienentwicklern um 0,8 Prozentpunkte nach unten revidiert. Gleichzeitig wird die höhere Inflation wegen der Lieferkettenunterbrechungen und der hohen Energiepreise noch länger aufrecht bleiben.

Die Risiken in diesem Szenario liegen auf der Hand: Das Auftreten weiterer COVID-19-Varianten könnte die Pandemie verlängern und für neuerliche konjunkturelle Störungen sorgen. Darüber hinaus bedeuten Lieferkettenprobleme, volatile Energiepreise und lokaler Lohndruck Unsicherheit für die Inflation und politische Entscheidungen. Während die entwickelten Volkswirtschaften ihre Leitzinsen erhöhen, könnten neue Bedrohungen für die finanzielle Stabilität und die Kapitalflüsse in Schwellenmärkte und Entwicklungsländer, deren Währungen und Finanzposition auftauchen. Zusätzliche globale Risiken könnten aus den anhaltenden geopolitischen Spannungen und aus der Klimaerwärmung hervorgehen.

Der Einmarsch von Russland in der Ukraine führte weltweit zu wirtschaftlichen Unsicherheiten und volatilen Finanzmärkten. Während die Börsen mit Kursverlusten konfrontiert waren, explodierten die Preise für Gold, Öl und Rohstoffe wie Aluminium. Die langfristigen Auswirkungen auf die Volkswirtschaften und deren Wachstum sind zum Zeitpunkt der Berichtserstellung nicht abschätzbar.

1 IWF, WORLD ECONOMIC OUTLOOK, UPDATE, 25. JÄNNER 2022., WELTBANK, GLOBAL ECONOMIC PROSPECTS, 11. JÄNNER 2022.

Perspektiven auf den Absatzmärkten

Die Feuerwehrbranche folgt der konjunkturellen Entwicklung mit einem Abstand von ein bis zwei Jahren. Die Nachfrage wird stark von Ländern mit kontinuierlichem Beschaffungswesen bestimmt. Aber auch ein erhöhtes Sicherheitsbewusstsein nach Naturkatastrophen und anderen Elementarereignissen führt zu vermehrten Investitionen in Feuerwehrtechnik und -ausrüstung.

2022 sollte der globalen Feuerwehrbranche erneut Wachstum möglich sein. Insbesondere in den entwickelten Volkswirtschaften scheint die Investitionsbereitschaft trotz der COVID-19-Pandemie ungebrochen und es werden unverändert die entsprechenden Budgetmittel für den Brand- und Katastrophenschutz bereitgestellt. Ausschlaggebend wird sein, wie lange die Lieferkettenstörungen noch die Produktion belasten. Gleiches gilt für die pandemiebedingten Mobilitätsbeschränkungen.

Der nordamerikanische Markt ist mit einer sehr dynamischen Nachfrage in das neue Jahr gestartet. Dahinter stehen umfangreiche Förderprogramme für den Katastrophenschutz und für die E-Mobilität, die auch den Feuerwehren zugutekommen. Die anhaltenden Lieferkettenstörungen und die befürchteten längeren Wartezeiten veranlassen zudem viele Einsatzorganisationen ihre Beschaffungen vorzuziehen. Die gute konjunkturelle Lage hat gleichzeitig das Angebot an qualifizierten Arbeitskräfte verknappt.

Europas Feuerwehrmarkt sollte auch 2022 seine solide Entwicklung fortsetzen. Am Beginn des dritten Pandemie-Jahres erscheint die Investitionsbereitschaft der öffentlichen Hand hoch und der Brand- und Katastrophenschutz kann auf umfangreiche Finanzmittel zurückgreifen. Die privaten Zuwendungen an die Feuerwehrorganisationen fließen wegen der Einschränkungen durch die Pandemiebekämpfung weiter langsam. Getragen wird die Nachfrage vor allem von zentral- und ost- sowie nordeuropäischen Ländern.

Die schwache Branchenkonjunktur auf den asiatischen Feuerwehrmärkten wird sich im laufenden Jahr nur geringfügig verbessern. Dabei werden die Marktvolumina auch weiterhin deutlich hinter den gewohnten Werten zurückbleiben. Die Ursachen dafür sind vielfältig. Zu den Belastungen durch die COVID-19-Pandemie kommen in einzelnen Ländern der Region länger schwelende wirtschaftliche Probleme und teils internationale Sanktionen. Auch der Handelsstreit zwischen China und den USA schlägt sich negativ zu Buche. Niedrige Impfraten begünstigen immer neue Ausbrüche des Coronavirus und führen zu lokalen Lockdowns.

Die Länder des Mittleren Ostens sind mit einer vergleichsweise niedrigeren Nachfrage in das neue Jahr gestartet. Die Nachfrage insbesondere von Flughäfen ist derzeit gering, dafür reaktiviert der öffentliche Sektor zusehends geplante Ausschreibungen. Zum Zeitpunkt der Berichtserstellung war die Weltwirtschaft mit extremen Schwankungen des Ölpreises konfrontiert. Abhängig von der weiteren Entwicklung im Verlauf des Jahres könnte sich neues Potenzial für den Absatz von Rosenbauer Produkten ergeben.

Nordamerika

Die Area NOMA hat das laufende Geschäftsjahr mit einem äußerst robusten Auftragsbestand begonnen. Bei den Auftragseingängen haben zuletzt steigende Beschaffungen von Kommunen und Regierungsstellen den Rückgang im Flughafengeschäft mehr als kompensiert. Neben der voll batterieelektrischen "Revolutionary Technology"-Modellreihe ist dabei auch das innovative Akkulöschsystem von Rosenbauer bei den Kunden auf wachsendes Interesse gestoßen.

In den kommenden Monaten wird es vor allem darum gehen, die negativen Auswirkungen der Lieferkettenstörungen zu begrenzen sowie Verkaufspreise und Herstellkosten in der Balance zu halten. Im Hinblick darauf hat Rosenbauer Minnesota die Produktion von Tanks und Mannschaftskabinen für den US-PANTHER, die vormals zugeliefert wurden, wieder selbst übernommen. Die gestiegenen Materialkosten haben die verschiedenen Konzernunternehmen im Wege von drei Preiserhöhungen an den Markt weitergegeben.

Die forcierten Vertriebsaktivitäten in Richtung Kommunen zeigen weiter erfreuliche Ergebnisse: So konnten nicht nur mehrere Dealerships in größeren Städten als Partner für das Rosenbauer-Netzwerk gewonnen werden, darunter der vierte Händler an der Ostküste, sondern auch der erste größere Flottenauftrag für das Nashville Fire Department an Land gezogen werden. Die Betreuung städtischer Feuerwehren mit großen Fahrzeugflotten, die über den gesamten Produktlebenszyklus begleitet werden, hat ein attraktives Wachstumspotenzial.

Rosenbauer International ist bestrebt, ihren Anteil an der Rosenbauer America LLC zu erhöhen und hat dazu Gespräche mit einem Miteigentümer aufgenommen. Rosenbauer sieht darin eine strategische Chance für eine stärkere Integration in die Konzernstrukturen und für einen Ausbau des Engagements im weltweit größten Feuerwehrmarkt.

Europa

Die europäische Projektlandschaft befindet sich zum Jahresbeginn 2022 auf einem sehr guten Niveau. Zusätzliche Impulse sollten vom europäischen Wiederaufbauplan "NextGenerationEU" kommen, der in den nächsten Jahren über 800 Mrd. € an Darlehen und Zuschüssen vergeben soll. Vor allem die E-Mobilität und der Umstieg auf Fahrzeuge mit alternativen Antrieben werden in diesem Zusammenhang treibende Kräfte der künftigen Marktentwicklung sein.

Vor allem die D-A-CH-Region weist wie in der Vergangenheit eine sehr stabile Nachfrage auf. Diese spiegelt sich in vielen Großprojekten, aber auch in zahlreichen Einzelbestellungen durch die Kommunen wider. In Südosteuropa, wo der Rosenbauer Konzern zuletzt einige neue Absatzmärkte erschlossen hat, kommen immer wieder größere Beschaffungen zur Ausschreibung. Dabei sind die Anforderungen von Land zu Land recht unterschiedlich. Die Kommunalmärkte auf dem Balkan werden erfolgreich vom Konzernstandort Ljubljana in Slowenien betreut.

2022 will Rosenbauer in Europa vor allem das Servicegeschäft weiter ausbauen, das zentral für die Kundenbeziehungen ist und zuverlässige Ergebnisbeiträge liefert. So ist etwa Rosenbauer Österreich im Berichtsjahr von Leonding an den Standort Asten, ebenfalls in Oberösterreich, übersiedelt und hat eine neue, gut erreichbare Anlaufstelle für Kunden eröffnet. Das neue Servicecenter mit 1.600 m2 Nutzfläche hat insgesamt 12 Fahrzeugstellplätze. Rosenbauer Deutschland hat die Werkstattkapazitäten an seinem Standort in Viersen, Nordrhein-Westfalen, um eine Halle mit 8 Fahrzeugstellplätzen praktisch verdoppelt.

Internationales Exportgeschäft

Das internationale Exportgeschäft von Rosenbauer sieht sich zum Jahresbeginn 2022 mit zahlreichen Herausforderungen konfrontiert. Zum einen haben viele Länder wegen der COVID-19-Pandemie ihre Ausgaben für den Brand- und Katastrophenschutz gekürzt, zum anderen erschweren teils strenge Reise- und Quarantänebestimmungen die Projektabwicklung. Dazu kommen in manchen Märkten wirtschaftliche Probleme sowie politische Konflikte.

Vor allem die Nachfrage nach Flughafenlöschfahrzeugen ist angesichts eines rückläufigen Flugverkehrs und aufgeschobener Infrastrukturinvestitionen in weiten Teilen Asiens massiv zurückgegangen. Viele Flughafenbetreiber behalten unter diesen Umständen ihre Fahrzeuge länger und investieren stattdessen in Service. Die Brandschutzkategorien der internationalen Zivilluftfahrtorganisation ICAO für Flughäfen wirken dabei grundsätzlich stabilisierend auf den Bedarf. 2021 scherte in der Region lediglich Japan aus und tätigte weitere Neuanschaffungen.

Wenig beeindruckt von der COVID-19-Pandemie zeigt sich hingegen das Feuerwehrgeschäft mit Singapur und seinen Nachbarländern. In diesen Märkten bietet auch die Luftfahrtbranche eine positive Perspektive. Konstant gute Ergebnisse liefern zudem Australien und Neuseeland, wo Rosenbauer zuletzt mit dem PANTHER 6x6 S schöne Erfolge erzielen konnte.

Für die kommunalen Fahrzeugmärkte Zentralasiens und der ASEAN-Staaten hat Rosenbauer vor einigen Jahren erfolgreich die "Efficient Technology"-Modellreihe (ET) eingeführt und durch Lokalisierung ein sehr nachhaltiges, preiswertes Produkt geschaffen.

Die Einführung einer Genehmigungspflicht für den Import von Feuerwehrfahrzeugen hat internationalen Herstellern den Zutritt zum chinesischen Markt schwerer gemacht. Darum hat Rosenbauer im Oktober des Vorjahres einen eigenen Vertriebs- und Servicestandort in Yunnan eröffnet. Über diesen ist nunmehr der direkte Verkauf von Ersatzteilen, Komponenten und Ausrüstung möglich.

Die Nachfrage in den Ländern des Mittleren Ostens hat sich im Verlauf des Berichtsjahres abgeschwächt. Vor diesem Hintergrund treibt Rosenbauer die Lokalisierung seiner Fertigung und den Ausbau seines Servicenetzes voran. Zusammen mit der umfangreichen installierten Fahrzeugbasis in der Region ist der Konzern bestens aufgestellt, wenn die Nachfrage wieder anzieht.

Obwohl die Märkte in Afrika und Südamerika deutlich unter den Auswirkungen der COVID-19-Pandemie gelitten haben, gehen einige Länder wie etwa die Maghreb-Staaten mit einer stärkeren Ausschreibungstätigkeit ins Jahr 2022. Durch den Boom in den west- und nordeuropäischen Märkten kann die Area NISA ausbleibende Auftragsvergaben zum Großteil kompensieren.

Rosenbauer verfolgt die Entwicklung der verschiedenen Feuerwehrmärkte sehr genau, um Absatzchancen frühzeitig nutzen zu können. Abhängig davon, welche Länder oder Regionen ein erhöhtes Beschaffungsvolumen erkennen lassen, werden die Vertriebsaktivitäten intensiviert. Zum Bilanzstichtag verfügte Rosenbauer über einen sehr soliden Auftragsbestand.

Innovationen und neue Produkte

Mit seinen Forschungs- und Entwicklungsaktivitäten verfolgt Rosenbauer das Ziel, seine internationale Wettbewerbsposition zu stärken und weiter auszubauen. Dabei beschäftigt sich der Konzern intensiv mit den weltweiten Megatrends wie etwa der globalen Erwärmung, dem demografischen Wandel, der Urbanisierung und Digitalisierung sowie deren Auswirkungen auf die Organisation und die Technik der Feuerwehren.

Vor etwas mehr als einem Jahr hat Rosenbauer mit dem "Revolutionary Technology" (RT) das erste voll batterieelektrische Feuerwehrfahrzeug vorgestellt. Der RT ist dabei keine bloße Ergänzung des bestehenden Produktportfolios von Rosenbauer, sondern ein völlig neues Fahrzeugkonzept, das neue Maßstäbe in Bezug auf Fahrdynamik, Ergonomie, Bedienung und Vernetzung setzt.

2021 hat Rosenbauer im Werk I am Standort Leonding eine eigene Montagelinie für die innovative Modellreihe in Betrieb genommen. Gleichzeitig hat Rosenbauer America mit der Anpassung des "Revolutionary Technology" an US-Feuerwehrnormen und Verkehrssicherheitsstandards begonnen. Die abschließende Straßenzulassung des amerikanischen RTX wird dabei für das laufende Jahr angepeilt.

Rosenbauer ist eines der innovativsten Unternehmen der Feuerwehrbranche. Mit ständig neuen und attraktiven Produkten werden Wettbewerbsvorteile erzielt und neue Wachstumschancen erschlossen.

Investitionen und Kapazitäten

Das Investitionsmanagement von Rosenbauer erfasst systematisch sämtliche Bedarfe im Konzern und reiht diese nach Priorität. Die Investitionen des Rosenbauer Konzerns werden demnach 2022 klar unter dem Vorjahreswert liegen und sich insbesondere auf Projekte mit hohem Wirtschaftlichkeitspotenzial sowie die Fertigstellung laufender Vorhaben fokussieren. So soll der Standort Luckenwalde in Deutschland in einer ersten Modernisierungsphase um eine Logistikhalle erweitert und am Hauptsitz in Leonding in weitere Werkzeuge für die Fertigung des RT und andere E-Fahrzeuge investiert werden.

Ein weiterer Investitionsschwerpunkt ist die konzernweite Einführung eines einheitlichen ERP-Systems (Enterprise Resource Planning). Im Februar 2022 gelang der erste erfolgreiche Roll-out von SAP S/4HANA bei der Rosenbauer Schweiz. Als Nächstes wird Rosenbauer Slowenien, als erste Produktionsstandort im Konzern, im Jahr 2023 auf SAP S/4HANA umsteigen.

Finanz- und Liquiditätslage

Rosenbauer hat branchenbedingt einen hohen unterjährigen Finanzierungsbedarf. Das liegt zum einen an langen Durchlaufzeiten insbesondere in der Fahrzeugproduktion, zum anderen an vergleichsweise niedrigen Kundenanzahlungen. Der Konzern wirkt diesem Umstand mit gezielten Maßnahmen entgegen, die die Optimierung der Auftragsabwicklung zum Ziel haben.

Die Finanzierung von Rosenbauer wird über mehrere Banken und mit unterschiedlichen Fristigkeiten sichergestellt. Die Finanzierungsstrategie des Konzerns ist nach konservativen Grundsätzen ausgerichtet und räumt einer gesicherten Liquidität sowie einer soliden Eigenmittelausstattung einen hohen Stellenwert ein.

Gesamtaussage zur künftigen Entwicklung

Rosenbauer hat seine Strategie in den zurückliegenden Jahren mit großer Zielstrebigkeit umgesetzt und damit die Grundlage für weiteres Wachstum geschaffen. Als führender Hersteller der internationalen Feuerwehrbranche arbeitet das Unternehmen ständig daran, noch effizienter und beweglicher zu werden.

Im Berichtsjahr hat Rosenbauer ein umfassendes Projekt zur Optimierung seines Cash Conversion Cycles (CCC) durchgeführt. Rosenbauer International, Rosenbauer Karlsruhe und Rosenbauer Deutschland haben dabei in 25 Teilprojekten neue Wege gesucht, um die Effizienz ihrer Prozesse zu verbessern und die Geldumschlagsdauer vom Materialeinkauf bis zur Bezahlung der Kundenrechnungen zu reduzieren. Ab Jahresmitte haben sich die Rahmenbedingungen dafür durch die pandemiebedingten Lieferkettenstörungen und Versorgungsengpässe merklich verschlechtert. Trotzdem ist es gelungen, den Cash Conversion Cycle zu verkürzen und das betriebsnotwendige Kapital zu senken. Die größten Verbesserungen konnten im Bestandsmanagement am Standort Leonding realisiert werden.

Unter der Führung von Group Finance & Controlling wurde das Thema CCC in die Regel-Organisiation übergeführt und ein eigenes Reporting dafür aufgesetzt.

Damit verfügt Rosenbauer über solide Voraussetzungen, das Jahr 2022 trotz aller bestehenden konjunkturellen Unsicherheiten erfolgreich zu meistern.

Leonding, 25. März 2022

Dieter Siegel Andreas Zeller Daniel Tomaschko Sebastian Wolf

Bilanz

			Stand 31.12.2021	Stand 31.12.2020
A K T I V A	EUR	EUR	EUR	TEUR
A. ANLAGEVERMÖGEN
I. Immaterielle Vermögensgegenstände
1. Konzessionen, Rechte	2.095.604,00			3.012
2. Geleistete Anzahlungen	5.329.935,44			1.561
		7.425.539,44		4.573
II. Sachanlagen
1. Grundstücke, grundstücksgleiche Rechte und Bauten, einschließlich der Bauten auf fremdem Grund
davon Grundwert EUR 18.766.164,92 (2020 TEUR 18.766)	58.145.437,92			60.363
2. Investitionen in fremden Gebäuden	150.136,00			163
3. Technische Anlagen und Maschinen	12.145.146,00			11.281
4. Andere Anlagen, Betriebs- und Geschäftsausstattung	12.012.651,00			12.719
5. Geleistete Anzahlungen und Anlagen in Bau	91.379,60			284
		82.544.750,52		84.810
III. Finanzanlagen
1. Anteile an verbundenen Unternehmen	76.182.807,63			74.094
2. Beteiligungen	3.001.640,79			3.002
3. Wertpapiere (Wertrechte) des Anlagevermögens	316.820,09			339
		79.501.268,51		77.435
			169.471.558,47	166.818
B. UMLAUFVERMÖGEN
I. Vorräte
1. Roh-, Hilfs- und Betriebsstoffe	34.774.239,82			31.132
2. Unfertige Erzeugnisse	94.058.406,82			115.002
abzüglich erhaltene Anzahlung	–2.058.772,60			–13.499
3. Fertige Erzeugnisse und Waren	6.168.575,34			5.791
4. Geleistete Anzahlungen	2.187.762,73			3.026
		135.130.212,11		141.452
II. Forderungen und sonstige Vermögensgegenstände
1. Forderungen aus Lieferungen und Leistungen	59.548.543,51			122.531
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 495.887,16 (2020 TEUR 744)
2. Forderungen gegenüber verbundenen Unternehmen	99.895.616,87			87.558
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 61.666.864,50 (2020 TEUR 54.305)
3. Forderungen gegenüber Unternehmen, mit denen ein Beteiligungsverhältnis besteht	2.246.121,28			699
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 0,00 (2020 TEUR 0)
4. Sonstige Forderungen und Vermögensgegenstände	9.874.813,33			18.348
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 0,00 (2020 TEUR 0)
		171.565.094,99		229.136
III. Kassenbestand, Guthaben bei Kreditinstituten		43.389.347,12		756
			350.084.654,22	371.344
C. RECHNUNGSABGRENZUNGSPOSTEN			3.528.173,81	3.531
D. AKTIVE LATENTE STEUERN			9.434.264,11	5.430
			532.518.650,61	547.123

P A S S I V A	EUR	31.12.2021
		EUR	31.12.2020 TEUR
A.EIGENKAPITAL
I. Eingefordertes und eingezahltes Grundkapital	13.600.000,00		13.600
Übernommenes Grundkapital EUR 13.600.000,00 (2020 TEUR 13.600)
II. Kapitalrücklagen (gebundene)	23.703.398,02		23.703
III. Gewinnrücklagen (freie Rücklagen)	138.071.955,77		148.972
IV. Bilanzgewinn
davon Gewinnvortrag EUR 149.978,48 (2020 TEUR 1.488)	6.271.043,34		10.350
B.RÜCKSTELLUNGEN		181.646.397,13	196.625
1. Rückstellungen für Abfertigungen	17.084.800,00		16.659
2. Rückstellungen für Pensionen	746.047,41		440
3. Steuerrückstellung	6.079.064,00		6.407
4. Sonstige Rückstellungen	35.225.050,81		32.880
		59.134.962,22	56.386
C.VERBINDLICHKEITEN
1. Verbindlichkeiten gegenüber Kreditinstituten	206.741.150,44		216.252
davon mit einer Restlaufzeit von bis zu einem Jahr EUR 51.441.056,78 (2020 TEUR 11.466)
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 155.300.093,66 (2020 TEUR 204.786)
2. Erhaltene Anzahlungen auf Bestellungen	6.971.667,17		10.932
davon mit einer Restlaufzeit von bis zu einem Jahr EUR 6.971.667,17 (2020 TEUR 10.932)
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 0,00 (2020 TEUR 0)
3. Verbindlichkeiten aus Lieferungen und Leistungen	37.128.326,47		26.148
davon mit einer Restlaufzeit von bis zu einem Jahr EUR 37.128.326,47 (2020 TEUR 26.148)
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 0,00 (2020 TEUR 0)
4. Verbindlichkeiten gegenüber verbundenen Unternehmen	21.239.467,79		19.971
davon mit einer Restlaufzeit von bis zu einem Jahr EUR 21.239.467,79 (2020 TEUR 19.971)
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 0,00 (2020 TEUR 0)
5. Sonstige Verbindlichkeiten
davon mit einer Restlaufzeit von bis zu einem Jahr EUR 7.384.237,82 (2020 TEUR 7.043)	7.384.237,82		7.043
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 0,00 (2020 TEUR 0)
davon aus Steuern EUR 183.693,01 (2050 TEUR 156)
davon mit einer Restlaufzeit von bis zu einem Jahr EUR 183.693,01 (2020 TEUR 156)
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 0,00 (2020 TEUR 0)
davon im Rahmen der sozialen Sicherheit EUR 2.279.371,84 (2020 TEUR 2.169)
davon mit einer Restlaufzeit von bis zu einem Jahr EUR 2.279.371,84 (2020 TEUR 2.169)
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 0,00 (2020 TEUR 0)
Summe Verbindlichkeiten		279.464.849,69	280.346
davon mit einer Restlaufzeit von bis zu einem Jahr EUR 124.164.756,03 (2020 TEUR 76.106)
davon mit einer Restlaufzeit von mehr als einem Jahr EUR 155.300.093,66 (2020 TEUR 204.786)
D.RECHNUNGSABGRENZUNGSPOSTEN		12.272.441,57	13.766

Gewinn- und Verlustrechnung

	2021		2020
	EUR	EUR	TEUR	TEUR
1. Umsatzerlöse		444.263.534,01		525.874
2. Veränderung des Bestands an fertigen und unfertigen Erzeugnissen		–20.942.946,25		–32.294
3. Andere aktivierte Eigenleistungen		427.739,54		182
4. Sonstige betriebliche Erträge
a) Erträge aus dem Abgang vom und der Zuschreibung zum Anlagevermögen mit Ausnahme der Finanzanlagen	521.545,00		12
b) Erträge aus der Auflösung von Rückstellungen	366.177,93		281
c) Übrige	5.255.391,81	6.143.114,74	4.810	5.103
5. Aufwendungen für Material und sonstige bezogene Herstellungsleistungen
a) Materialaufwand	–259.481.390,72		–308.221
b) Aufwendungen für bezogene Leistungen		–8.066.988,64 –267.548.379,36	–9.522	–317.743
6. Personalaufwand
a) Löhne	–43.193.530,62		–40.907
b) Gehälter	–48.758.027,32		–44.568
c) Soziale Aufwendungen	–26.295.683,69		–23.505
davon Aufwendungen für Altersversorgung EUR -736.023,73 (2020 TEUR -324)
aa) Aufwendungen für Abfertigungen und Leistungen an betriebliche Mitarbeitervorsorgekassen EUR -2.785.963,90 (2020 TEUR -1.169)
bb)Aufwendungen für gesetzlich vorgeschriebene Sozialabgaben sowie vom Entgelt abhängige Abgaben und Pflichtbeiträge EUR -22.669.361,22 (2020 TEUR -21.922)		–118.247.241,63		–108.980
7. Abschreibungen auf immaterielle Gegenstände des Anlagevermögens und Sachanlagen		–9.848.657,93		–9.882
8. Sonstige betriebliche Aufwendungen
a) Steuern, soweit sie nicht unter Z 18 fallen	–70.473,61		–70
b) Übrige	–46.856.120,85	–46.926.594,46	–46.702	–46.772
9. Zwischensumme aus Z 1 bis 8 (Betriebserfolg)		–12.679.431,34		15.488
10.Erträge aus Beteiligungen		6.425.603,97		14.765
davon aus verbundenen Unternehmen EUR 6.387.827,04 (2020 TEUR 13.591)
11.Erträge aus anderen Wertpapieren und Ausleihungen des Finanzanlagevermögens		2.016,07		0
davon aus verbundenen Unternehmen EUR 0,00 (2020 TEUR 0)
12.Sonstige Zinsen und ähnliche Erträge		2.281.816,73		2.667
davon aus verbundenen Unternehmen EUR 2.220.863,96 (2020 TEUR 2.290)

		2021	2020
	EUR	EUR	TEUR	TEUR
13.Erträge aus dem Abgang von Finanzanlagen		2.593,92		0
14.Aufwendungen aus Finanzanlagen aus Wertpapieren des Umlaufvermögens		–652,00		0
davon Abschreibungen EUR 652,00 (2020 TEUR 0)
davon aus verbundenen Unternehmen EUR 0,00 (2020 TEUR 0)
15.Zinsen und ähnliche Aufwendungen		–4.299.688,69		–4.295
davon betreffend verbundene Unternehmen EUR -89.360,23 (2020 TEUR -118)
16.Zwischensumme aus Z 10 bis 15 (Finanzerfolg)		4.411.690,00		13.137
17.Ergebnis vor Steuern (Zwischensumme aus Z 9 und Z 16)		–8.267.741,34		28.625
18.Steuern vom Einkommen und vom Ertrag		3.488.806,20		–3.963
davon latente Steuern EUR -1.029.377,00 (2020 TEUR -358)
19.Ergebnis nach Steuern = Jahresüberschuss		–4.778.935,14		24.662
20.Auflösung von Gewinnrücklagen		10.900.000,00		0
21.Zuweisung zu Gewinnrücklagen		0,00		–15.800
Jahresgewinn		6.121.064,86		8.862
22.Gewinnvortrag aus dem Vorjahr		149.978,48		1.488
23.Bilanzgewinn		6.271.043,34		10.350

Aufgliederung der Erlöse

Aufgliederung nach Inlands- und Auslandserlösen

in €	2021	2020
Österreich	46.843.000,00	49.785.200,00
Europäische Union	91.605.000,00	121.784.800,00
Asien/Ozeanien	76.916.000,00	74.289.000,00
Osteuropa	16.129.000,00	15.294.500,00
Naher Osten	106.407.000,00	143.074.000,00
Sonstige	106.363.534,01	121.646.491,74
Umsatzerlöse	444.263.534,01	525.873.991,74

Umsätze nach Tätigkeitsbereichen

in €	2021	2020
Fahrzeuge	288.599.052,01	379.101.868,43
Komponenten	49.237.682,42	47.929.094,61
Ausrüstung	66.546.976,39	58.743.095,97
Ersatzteile, Reparatur und Service	21.623.862,71	20.014.474,15
Sonstige	18.255.960,48	20.085.458,58
Umsatzerlöse	444.263.534,01	525.873.991,74

Gewinnrücklagen

in €	Stand 1.1.2021	Zuweisung	Auflösung/ Verbrauch	Stand 31.12.2021
Gewinnrücklagen
Andere (freie) Rücklagen	148.971.955,77	0,00	10.900.000,00	138.071.955,77

Anlagenspiegel

				A n s c h a f f u n g s - bzw. H e r s t e l l u n g s k o s t e n
in €	Vortrag 01.01.2021	Zugänge	Umbu chungen	Abgänge	Investitions Zuschüsse	Stand 31.12.2021
ANLAGEVERMÖGEN
I. Immaterielle
Vermögensgegenstände
1. Konzessionen, Rechte	9.508.720,55	321.943,80	0,00	1.276.147,45	113.683,50	8.440.833,40
2. Geleistete Anzahlungen	1.560.953,10	4.045.062,34	–6.300,00	0,00	269.780,00	5.329.935,44
	11.069.673,65	4.367.006,14		–6.300,00 1.276.147,45	383.463,50	13.770.768,84
II. Sachanlagen
1. Grundstücke, grundstücks gleiche Rechte und Bauten, einschließlich der Bauten auf fremdem Grund
a) Bebaute Grundstücke
aa) mit Geschäfts- oder Fabriksgebäuden oder anderen Baulichkeiten
Grundwert	11.317.133,33	0,00	0,00	0,00	0,00	11.317.133,33
Gebäudewert	63.378.126,76	273.878,14	0,00	0,00	324.029,52	63.327.975,38
Außenanlagen	8.260.659,31	228.542,79	0,00	3.813,00	53.507,36	8.431.881,74
b) Unbebaute Grundstücke	7.449.031,59	0,00	0,00	0,00	0,00	7.449.031,59
	90.404.950,99	502.420,93	0,00	3.813,00	377.536,88	90.526.022,04
2. Investitionen in fremden Gebäuden	225.580,06	10.722,00	0,00	0,00	0,00	236.302,06
3. Technische Anlagen und Maschinen	31.083.225,57	4.279.762,01	119.248,72	3.475.023,11	106.973,01	31.900.240,18
4. Andere Anlagen, Betriebs- und Geschäftsausstattung	50.934.251,78	3.393.440,11	92.389,30	1.301.785,00	142.796,55	52.975.499,64
5. Geleistete Anzahlungen und Anlagen in Bau	284.355,55		131.612,07 –205.338,02	119.250,00	0,00	91.379,60
	172.932.363,95	8.317.957,12		6.300,00 4.899.871,11	627.306,44	175.729.443,52
III. Finanzanlagen
1. Anteile an verbundenen
Unternehmen	82.579.303,79	2.088.736,79	0,00	0,00	0,00	84.668.040,58
2. Beteiligungen	3.001.640,79	0,00	0,00	0,00	0,00	3.001.640,79
3. Wertpapiere (Wertrechte) des
Anlagevermögens	348.603,62	0,00	0,00	20.985,83	0,00	327.617,79
	85.929.548,20	2.088.736,79	0,00	20.985,83	0,00	87.997.299,16
	269.931.585,80 14.773.700,05			0,00 6.197.004,39 1.010.769,94		277.497.511,52

				kumulierte Abschreibungen
Buchwert	Buchwert	Stand		Umbuchun			Vortrag
31.12.2020	31.12.2021	31.12.2021	Abgänge	gen	Zuschreibung	Zugänge	01.01.2021
3.012.345,00	2.095.604,00	6.345.229,40	1.275.500,45	0,00	0,00	1.124.354,30	6.496.375,55
1.560.953,10	5.329.935,44	0,00	0,00	0,00	0,00	0,00	0,00
4.573.298,10	7.425.539,44	6.345.229,40	1.275.500,45	0,00	0,00	1.124.354,30	6.496.375,55
11.317.133,33	11.317.133,33	0,00	0,00	0,00	0,00	0,00	0,00
38.335.295,00	36.356.238,00	26.971.737,38	0,00	0,00	0,00	1.928.905,62	25.042.831,76
3.261.884,00	3.023.035,00	5.408.846,74	2.413,00	0,00	0,00	412.484,43	4.998.775,31
7.449.031,59	7.449.031,59	0,00	0,00	0,00	0,00	0,00	0,00
60.363.343,92	58.145.437,92	32.380.584,12	2.413,00	0,00	0,00	2.341.390,05	30.041.607,07
162.990,00	150.136,00	86.166,06	0,00	0,00	0,00	23.576,00	62.590,06
11.280.681,00	12.145.146,00	19.755.094,18	2.380.343,11	0,00	0,00	2.332.892,72	19.802.544,57
12.718.872,00	12.012.651,00	40.962.848,64	1.278.976,00	0,00	0,00	4.026.444,86	38.215.379,78
284.355,55	91.379,60	0,00	0,00	0,00	0,00	0,00	0,00

in €

ANLAGEVERMÖGEN I. Immaterielle

II. Sachanlagen

III. Finanzanlagen

Investitionszuschüsse

A n s c h a f f u n g s - bzw. H e r s t e l l u n g s k o s t e n
in €	Stand 01.01.2021	Zugänge	Abgang	Auflösung	Umbuchung	Stand 31.12.2021
ANLAGEVERMÖGEN
I. Immaterielle Vermögensgegenstände
1. Konzessionen, Rechte	93.279,13	20.404,37	0,00	0,00	0,00	113.683,50
2. Geleistete Anzahlungen	0,00	269.780,00	0,00	0,00	0,00	269.780,00
	93.279,13	290.184,37	0,00	0,00	0,00	383.463,50
II. Sachanlagen
1. Grundstücke, grundstücks gleiche Rechte und Bauten, einschließlich der Bauten auf fremdem Grund
a) Bebaute Grundstücke mit Geschäfts- oder Fabriksgebäuden oder anderen Baulichkeiten
Gebäudewert	324.029,52	0,00	0,00	0,00	0,00	324.029,52
Außenanlagen	53.507,36	0,00	0,00	0,00	0,00	53.507,36
	377.536,88	0,00	0,00	0,00	0,00	377.536,88
2. Investitionen in fremden Gebäuden	0,00	0,00	0,00	0,00	0,00	0,00
3. Technische Anlagen und Maschinen	1.973,01	105.000,00	0,00	0,00	0,00	106.973,01
4. Andere Anlagen, Betriebs und Geschäftsausstattung	94.626,81	48.169,74	0,00	0,00	0,00	142.796,55
5. Geleistete Anzahlungen und Anlagen in Bau	0,00	0,00	0,00	0,00	0,00	0,00
	474.136,70	153.169,74	0,00	0,00	0,00	627.306,44
	567.415,83	443.354,11	0,00	0,00		0,00 1.010.769,94

Beteiligungsunternehmen

(mindestens 20% Anteilsbesitz)

(in 1.000)	Währungs einheit	Beteil. Anteil1	% Eigenkapital	Ergebnis2	Beteil. Anteil1	% Eigenkapital	Ergebnis2	Konsolidie rungsart
		Stand 2020	31.12.2020	2020	Stand 2021	31.12.2021	2021
Rosenbauer Österreich GmbH, Österreich, Leonding	EUR	100	5.596	2.608	100	8.077	3.061	KV
Rosenbauer Brandschutz GmbH, Österreich, Leonding	EUR	100	2.904	–885	100	2.737	–230	KV
Rosenbauer E-Technology Development GmbH, Österreich, Leonding	EUR	100	4.282	–1.622	100	12.848	634	KV
Rosenbauer E-Commerce GmbH, Leonding3	EUR				100	25	–10	KV
Rosenbauer APAC Holding GmbH, Leonding3	EUR				100	33	–2	KV
Rosenbauer Fire Fighting Technology, VR China, Kunming3	EUR				100	230	14	KV
Rosenbauer Deutschland GmbH, Deutschland, Luckenwalde	EUR	100	21.326	6.189	100	24.496	5.075	KV
Rosenbauer Karlsruhe GmbH/vormals Rosenbauer Management GmbH 4)	EUR	100	42	1	100	21.470	244	KV
Rosenbauer Karlsruhe GmbH & Co. KG, Deutschland, Karlsruhe4	EUR	100	18.905	780
Rosenbauer France SARL, Frankreich, Meyzieu	EUR	100	–400	–366	100	1.055	–43	KV
Rosenbauer Finanzierung GmbH, Deutschland, Passau	EUR	100	15	–3	100	11	–3	KV
Rosenbauer Brandschutz Deutschland GmbH, Deutschland, Mogendorf	EUR	100	3.740	1.182	100	2.322	–4.366	KV
Rosenbauer d.o.o., Slowenien, Radgona	EUR	90	10.107	3.017	90	11.340	1.121	KV
Rosenbauer Schweiz AG, Schweiz, Oberglatt	EUR	100	8.217	1.240	100	8.574	741	KV
Rosenbauer Espanola S.A., Spanien, Madrid	EUR	62	3.866	254	62	3.606	–127	KV
Rosenbauer Ciansa S.L., Linares, Spanien	EUR	50	3.518	151	50	–229	3.163	AE
Rosenbauer Minnesota, LLC.,5 USA, Minnesota	EUR	50	11.418	5.078	50	12.746	5.918	KV
Rosenbauer South Dakota, LLC., 5) USA, South Dakota	EUR	50	33.752	8.173	50	41.771	11.124	KV
Rosenbauer Holdings Inc., USA, South Dakota	EUR	100	26.805	5.728	100	30.317	4.762	KV
Rosenbauer America, LLC., 5 USA, South Dakota	EUR	50	61.114	19.011	50	67.263	14.288	KV
Rosenbauer Aerials, LLC.,5 USA, Nebraska	EUR	25	9.332	5.151	25	8.454	1.206	KV
Rosenbauer Motors, LLC.,5 USA, Minnesota	EUR	50	6.828	3.919	50	918	902	KV

(in 1.000)	Währungs einheit	Beteil. Anteil1	% Eigenkapital	Ergebnis2	Beteil. Anteil1	% Eigenkapital	Ergebnis2	Konsolidie rungsart
		Stand 2020	31.12.2020	2020	Stand 2021	31.12.2021	2021
S.K. Rosenbauer Pte. Ltd., Singapur	EUR	100	11.336	2.003	100	14.232	2.979	KV
Eskay Rosenbauer Sdn Bhd, Brunei	EUR	80	–271	18	80	–229	53	KV
Rosenbauer Australia Pty. Ltd., Brisbane, Australien	EUR	100	976	1.025	100	1.434	427	KV
Rosenbauer South Africa (Pty.) Ltd., Südafrika, Halfway House	EUR	75	376	27	75	314	–61	KV
Rosenbauer Saudi Arabia, Saudi Arabien, Riad	EUR	75	4.046	904	75	4.218	167	KV
Rosenbauer UK plc, United Kingdom, Holmfirth	EUR	100	2.523	34	100	2.772	5	KV
Rosenbauer Rovereto Srl, Italien, Rovereto	EUR	100	2.424	–94	100	2.651	326	KV
Rosenbauer Italia S.r.l., Italien, Andrian	EUR	100	215	–95	100	446	–9	KV
Rosenbauer Polska Sp.z. o.o., Polen, Warschau	EUR	100	1.333	302	100	161	150	KV
Rosenbauer Mena Trading - FZE, Vereinige Arabische Emirate, Dubai	EUR	100	1.826	1.004	100	3.208	1.293	KV
PA "Fire-fighting special technics" LLC., Russland, Moskau	EUR	49	4.704	–796	49	4.521	–204	AE

1 Mittelbarer Beteiligungsanteil

2 Jahresgewinn nach Rücklagenbewegung

3 Gründung in 2021

4 Einbringung Rosenbauer Management GmbH in Rosenbauer Karlsruhe GmbH & Co.KG, Umfirmierung in Rosenbauer Karlsruhe

5 Dirimierungsrecht für die Rosenbauer International AG

KV Vollkonsolidierte Gesellschaften

AE At equity-bewertete Gesellschaften

Die in der obigen Tabelle angeführten Werte wurden nach internationalen Rechnungslegungsvorschriften ermittelt.

Erläuternde Angaben

1. ANWENDUNGEN DER UNTERNEHMENSRECHTLICHEN VORSCHRIFTEN

Die Rosenbauer International AG mit Sitz in Leonding/Linz, Paschinger Straße 90, ist ein konzernabschlusserstellendes Mutterunternehmen, das an der Wiener Börse im Prime Market gelistet ist. Das Unternehmen entwickelt und produziert Fahrzeuge, Löschtechnik, Ausrüstung und Telematiklösungen für Berufs-, Betriebs-, Werk- und freiwillige Feuerwehren sowie Anlagen für den vorbeugenden Brandschutz.

Die Bilanzierung, die Bewertung und der Ausweis der einzelnen Positionen des Jahresabschlusses wurde nach den allgemeinen Bestimmungen der §§ 189 bis 211 UGB in der geltenden Fassung unter Berücksichtigung der Sondervorschriften für Kapitalgesellschaften der §§ 222 bis 243 UGB vorgenommen.

2. BILANZIERUNGS- UND BEWERTUNGSGRUNDSÄTZE

Der Jahresabschluss wurde unter Beachtung der Grundsätze ordnungsmäßiger Buchführung sowie der Generalnorm des § 222 Abs. 2, ein möglichst getreues Bild der Vermögens-, Finanz- und Ertragslage des Unternehmens zu vermitteln, aufgestellt.

Als Spätzykliker hat Rosenbauer die COVID-19-Krise verspätet getroffen. Die negativen Effekte betrafen im Jahr 2021 insbesondere die Störung der Lieferketten und die Unterauslastung der Werke durch Verzögerungen bei den Auslieferungen. Durch die Umsatzverschiebungen und die auftretenden Produktionsstörungen blieb die Betriebsleistung und die Ertragssituation unter den Erwartungen. Ziel des Managements war durch die Anpassungen des Produktionsprogramm, durch die Nutzung von Kurzarbeit und anderen arbeitsplatzsicherenden Maßnahmen und nicht zuletzt das aktive Working-Capital-Management, die negativen Effekte auf die Stakeholder, insbesondere die Kunden, die Eigentümer und Mitarbeiter so gering wie möglich zu halten. Es konnte aber nicht verhindert werden, dass es zu späteren Umsatzrealisierung, vor allem wegen fehlender Materialien gekommen ist. Insbesondere die Teileversorgung gestaltete sich im Jahr 2021 als schwierig und führte zu Ineffizienzen in der Produktionssteuerung. Eine Entspannung ist aktuell nicht in Sicht. Zusätzlich kam im Jahr 2022 noch mit der Ukraine-Krise eine zusätzliche Belastung der Lieferketten, der Energie- und Rohstoffpreise und des makroökonomischen Umfelds insgesamt dazu. Von Vorteil ist, das Rosenbauer auf den direkt betroffenen Märkten (Ukraine, Russland und Weißrussland) nur ein geringes Geschäftsvolumen hat. Erfreulich ist aber, dass die Auftragseingänge im Jahr 2021 auf einem zufriendenstellenden Niveau waren, die Nachfrage hat unter den anhaltenden Krisen bisher nicht gelitten. Der Preisdruck hat aber durch steigende Materialpreise zugenommen, da die notwendigen Preiserhöhungen auf Grund der Konkurrenzsituation nicht einfach umzusetzen sind. Es wird allerdings von einer zumindest mittelfristigen Erholung des Geschäftsmodells ausgegangen und insbesondere kann Rosenbauer mit der fortschrittlichen Technik einen positiven Beitrag zur Bewältigung der anhaltenden Krisen leisten. Daher ist es nicht erforderlich außerplanmäßige Abschreibungen, Wertberichtigungen oder Rückstellungen im Jahresabschluss aus Gründen der COVID-19 Krise und der Ukraine-Krise zu bilden bzw. sind alle Sicherungsbeziehungen effektiv geblieben. Um die negativen Auswirkungen auf die Vermögens-, Finanz- und Ertragslage des Konzerns abfedern zu können, waren die von den Regierungen aufgelegten Hilfsprogramme hilfreich. Insbesondere die Möglichkeit der Kurzarbeit sowie arbeitsplatzsichernder Maßnahmen konnte wesentliche negative Effekte durch die Vermeidung von auftragsbezogenen Kündigungen verhindern.

Bei Vermögensgegenständen und Schulden wurde grundsätzlich der Grundsatz der Einzelbewertung angewandt. Sofern einzelne Vermögensgegenstände und Schulden Bestandteil einer Bewertungseinheit sind, wurden diese abweichend vom Grundsatz der Einzelbewertung zusammen mit dem zugehörigen Sicherungsinstrument bewertet.

Bei der Erstellung des Jahresabschlusses wurden Annahmen getroffen und Schätzungen vorgenommen, welche die Höhe und den Ausweis der Vermögenswerte und Schulden sowie der Erträge und Aufwendungen des Berichtszeitraums beeinflussen. Schätzungen beruhen auf einer umsichtigen Beurteilung. Soweit statistisch ermittelbare Erfahrungen aus gleich gelagerten Sachverhalten vorhanden sind, hat das Unternehmen diese bei Schätzungen berücksichtigt. Die bisher angewandten Bilanzierungs- und Bewertungsmethoden wurden beibehalten. Dem Vorsichtsgrundsatz wurde Rechnung getragen, indem insbesondere nur die am Abschlussstichtag verwirklichten Gewinne ausgewiesen werden. Alle erkennbaren Risken und drohenden Verluste, die im Geschäftsjahr 2021 oder in einem früheren Geschäftsjahr entstanden sind, wurden berücksichtigt.

Immaterielle Vermögensgegenstände werden zu Anschaffungskosten aktiviert und in längstens 4 Jahren abgeschrieben.

Sachanlagen werden zu Anschaffungs- oder Herstellungskosten abzüglich planmäßiger Abschreibungen bewertet. Die Nutzungsdauer beträgt bei Gebäuden, Gebäudeteilen, Umbauten und Zubauten zwischen 15 und 50 Jahren, bei Technische Anlagen und Maschinen zwischen 8 und 15 Jahren und bei andere Anlagen, Betriebsund Geschäftsausstattung von 5 bis 10 Jahren. Geringwertige Vermögensgegenstände werden im Jahr der Anschaffung voll abgeschrieben. Es wurden keine Fremdkapitalzinsen bei den Herstellungskosten aktiviert.

Außerplanmäßige Abschreibungen werden vorgenommen, soweit der Ansatz mit einem niedrigeren Wert erforderlich ist.

Anteile an verbundenen Unternehmen und Beteiligungen werden zum Bilanzstichtag mit den Anschaffungskosten, im Falle einer voraussichtlich dauernder Wertminderung mit dem niedrigeren beizulegenden Wert angesetzt. Zur Beurteilung der Werthaltigkeit von Beteiligungen wird bei Vorliegen von Anhaltspunkten (Triggering Event) für eine Wertminderung grundsätzlich das Discounted Cash-Flow-Verfahren gemäß dem Fachgutachten zur Unternehmensbewertung KFS/BW 1 der Kammer der Wirtschaftstreuhänder herangezogen. Der beizulegende Wert beziehungsweise der Nutzungswert wird aus in diesem Fall aus den mit den gewichteten Kapitalkosten diskontierten geschätzten künftigen Cashflows aufgrund der Daten einer mittelfristigen Unternehmensplanung abgeleitet. Nach einem Detailplanungszeitraum von 3 Jahren werden anfallende Cashflows unter Verwendung einer nachhaltigen Wachstumsrate extrapoliert. Als Abzinsungssatz (WACC) wird ein individuell nach dem Capital Asset Pricing Model ermittelter Mischsatz aus der Fremdkapitalverzinsung und der Verzinsung des eingesetzten Eigenkapitals herangezogen. Dieser Abzinsungssatz spiegelt die gegenwärtigen Markteinschätzungen und die speziellen Risiken der betroffenen Beteiligungen wider.

Wertpapiere (Wertrechte) des Anlagevermögens werden mit den Anschaffungskosten oder dem niedrigeren Kurswert zum Bilanzstichtag bewertet.

Die Bewertung der Vorräte erfolgt zu Anschaffungs- bzw. Herstellungskosten unter Beachtung des Niederstwertprinzips.

Roh-, Hilfs- und Betriebsstoffe und Waren sind zu Anschaffungskosten, die aufgrund des gleitenden Durchschnittspreisverfahrens (§ 209 Abs. 2 UGB) ermittelt werden, angesetzt.

Die fertigen und unfertigen Erzeugnisse werden zu Herstellungskosten angesetzt. Die Herstellungskosten umfassen die Material- und Fertigungseinzelkosten sowie angemessene Teile der Materialgemeinkosten und der Fertigungsgemeinkosten. Aufwendungen der allgemeinen Verwaltung werden nicht aktiviert.

Sind die Herstellungskosten höher als die zu Vertragspreisen errechnete Leistung, so wird zu Vertragspreisen abzüglich der bis zum Verkauf noch anfallenden Kosten bewertet. Erkennbaren Risken im weiteren Ablauf bis zur Fertigstellung wird durch gesonderte Rückstellungen Rechnung getragen.

Unter Beachtung des Niederstwertprinzips wurden entsprechende Abwertungen wegen übermäßiger Lagerdauer und zur verlustfreien Bewertung durchgeführt.

Erhaltene Anzahlungen auf Bestellungen werden offen vom Posten "Vorräte" abgesetzt, soweit diesen bereits Anschaffungs- bzw. Herstellkosten gegenüberstehen. Es wurden keine Fremdkapitalzinsen bei den Herstellungskosten aktiviert.

Forderungen und sonstige Vermögensgegenstände sind mit dem Nennbetrag angesetzt. Fremdwährungsforderungen werden grundsätzlich mit dem Devisenmittelkurs zum Bilanzstichtag bewertet. Abweichend dazu werden Fremdwährungsforderungen, die Bestandteil einer Bewertungseinheit sind, gemeinsam mit dem Sicherungsinstrument am Bilanzstichtag zum vereinbarten Terminkurs bewertet. Für erkennbare Risken werden Einzelwertberichtigungen gebildet.

Bei der Bemessung der Rückstellungen ist entsprechend den gesetzlichen Erfordernissen allen erkennbaren Risken und ungewissen Verbindlichkeiten ausreichend Rechnung getragen worden.

Die Abfertigungsrückstellungen werden gemäß den Bestimmungen des § 211 Abs. 2 UGB gebildet. Die Rückstellung wird seit 2016 nach versicherungsmathematischen Grundsätzen berechnet. Dabei wird nach dem Ansammlungsverfahren die Verteilung des Dienstzeitaufwandes über die gesamte Laufzeit vom Eintritt in das Unternehmen bis zum Erreichen des gesetzlichen Pensionsalters berechnet. Die Bildung der Abfertigungsrückstellung beginnt mit Antritt eines Arbeitsverhältnisses, das einen Abfertigungsanspruch begründet. Der Zinssatz beträgt 1,12 % (2020: 1,42 %) und entspricht einem marktüblichen 7-Jahresdurchschnitt bei einer Restlaufzeit von 11 Jahren (2020: 12 Jahre). Das Pensionsantrittsalter beträgt 65 Jahre bei Frauen und Männern (2020: 65 Jahre bei Frauen und Männern). Der Fluktuationsabschlag beträgt 0%.

Für die Ermittlung des Unterschiedsbetrages aufgrund der Umstellung von der angewandten finanzmathematischen Berechnung auf die versicherungsmathematische Berechnung wurden im Jahresabschluss 2016 die Beträge des versicherungsmathematischen Gutachtens gemäß IAS 19 aus dem Vorjahr (2015) herangezogen. Der Unterschiedsbetrag wurde auf fünf Jahre verteilt in den aktiven Rechnungsabgrenzungsposten dargestellt. Im Jahr 2020 wurden diese Rechnungsabgrenzungsposten aufgelöst."

Die Jubiläumsgeldrückstellung wird nach IFRS (IAS 19) gebildet. Als Zinssatz wurde 1,3 % (2020: 1,0%) verwendet und von einem Pensionsalter von 65 Jahren (2020: 65 Jahren) bei Frauen und 65 Jahren (2020: 65 Jahren) bei Männern ausgegangen. Der Fluktuationsabschlag betrug abhängig von der Dienstzeit zwischen 0% und 6,40%.

Für einige Mitarbeiter wird in ein Pensionssystem eingezahlt, welches einen beitragsorientierten Versorgungsplan darstellt.

Ab dem Geschäftsjahr 2016 wurden Wertrechte mit Pensionsverpflichtungen saldiert ausgewiesen. Im Jahr 2021 ergibt sich somit ein Passivüberhang in Höhe von EUR 746.046,00 (2020: TEUR 440).

Verbindlichkeiten sind mit ihrem Erfüllungsbetrag angesetzt. Fremdwährungsverbindlichkeiten werden mit dem Devisenmittelkurs zum Bilanzstichtag bewertet.

Vereinnahmte Finanzierungskosten, die sich auf künftige Leistungen beziehen, werden in den passiven Rechnungsabgrenzungen ausgewiesen (2021: EUR 1.501.084,39; 2020: TEUR 1.505).

3. ANLAGEVERMÖGEN

Die Aufgliederung des Anlagevermögens und seine Entwicklung im Berichtsjahr sind im Anlagenspiegel angeführt.

Wertrechte werden mit den Pensionsverpflichtungen saldiert ausgewiesen. Die Bewertung der saldierten Ansprüche aus einer Pensionsrückdeckungsversicherung stellt sich zum 31.12.2021 wie folgt dar.:

		2021		2020
Buchwert Wertrecht	3.358.174,21	EUR	3.053.612,35	EUR
Marktwert Wertrecht	3.358.174,21	EUR	3.053.612,35	EUR
Buchwert Pensionsverpfl.	4.104.220,59	EUR	3.493.451,82	EUR
Marktwert Pensionsverpfl.	4.104.220,59	EUR	3.493.451,82	EUR
Saldierung	–746.046,38	EUR	–439.839,47	EUR
Die Bewertung der Wertpapiere zum 31.12.2021 stellt sich wie folgt dar.
Buchwert	316.820,09	EUR	338	TEUR
Marktwert	505.590,37	EUR	499	TEUR

Aus der Nutzung von in der Bilanz nicht ausgewiesenen Sachanlagen besteht aufgrund von langfristigen Miet-, Pacht- und Leasingverträgen für das folgende Geschäftsjahr eine Verpflichtung von EUR 2.144.143,72 (2020: TEUR 1.870). Der Gesamtbetrag der Verpflichtungen für die nächsten 5 Jahre beträgt EUR 10.671.913,56 (2020: TEUR 9.319).

Die Aufgliederung der Beteiligungen ist der Beteiligungsliste (Anlage 2 zum Anhang) zu entnehmen.

4. FORDERUNGEN UND SONSTIGE VERMÖGENSGEGENSTÄNDE

Die Forderungen aus Lieferungen und Leistungen setzen sich wie folgt zusammen:

31.12.2021	31.12.2020
EUR	EUR
70.517.577,97	138.237.727,03
–1.508.919,06	–1.036.212,54
41.807.773,09	26.768.278,08
–51.267.888,49	–41.438.689,05
59.548.543,51	122.531.103,52

Forderungen aus Lieferungen und Leistungen wurden im Jahr 2021 i.H. von EUR 22.307.958,90 mittels Dokumentenakkreditiv und i.H. von EUR 16.052.280,40 über die OEKB abgesichert.

Im Geschäftsjahr 2021 wurden neue Factoring-Vereinbarungen abgeschlossen. Dabei wurden zum Bilanzstichtag ausgewählte Forderungen an Kreditinstitute in Höhe von EUR 51.267.888,49 (Vorjahr: TEUR 41.438) verkauft. Die verkauften Forderungen werden aufgrund des Übergangs der Verfügungsmacht vollständig ausgebucht. Dabei wurden EUR 41.807.773,09 (Vorjahr: TEUR 26.768) von verbundenen Unternehmen angekauft.

	31.12.2021	31.12.2020
	EUR	EUR
Forderungen aus Lieferungen und Leistungen	19.754.664,86	15.243.035,70
Finanzierungsforderungen	80.140.952,01	72.315.256,20
	99.895.616,87	87.558.291,90

Die Forderungen gegenüber den verbundenen Unternehmen setzen sich wie folgt zusammen:

Die sonstigen Forderungen und Vermögensgegenstände gliedern sich wie folgt auf:

	31.12.2021	31.12.2020
	EUR	EUR
Forderungen an Finanzamt Österreich	0,00	2.203.772,21
diverse ausländische Vorsteuern	4.611.851,62	4.183.599,11
Gebühren aus der Einfuhrabwicklung Saudi-Arabien	1.151.172,32	5.670.567,04
sonstige Forderungen	4.111.789,39	6.290.172,86
	9.874.813,33	18.348.111,22

Es erfolgte weder eine wechselseitige Verbriefung noch eine Pauschalwertberichtigung von Forderungen.

5. RECHNUNGSABGRENZUNGSPOSTEN

Die Aktivseite umfasst vor dem Stichtag verzeichnete Buchungen, deren Aufwand erst nach diesem Abschlussstichtag zu verzeichnen ist. Die Passivseite enthält alle Einnahmen vor dem Stichtag, deren Ertrag erst nach dem Stichtag wirksam wird.

6. GRUNDKAPITAL

Rosenbauer ist mit Stückaktien im Prime Market der Wiener Börse gelistet. Das Grundkapital der Rosenbauer International AG beträgt 13,6 Mio €, eingeteilt in 6.800.000 nennbetragslose Stückaktien, die jeweils einen anteiligen Betrag am Grundkapital von 2,0 € verbriefen. 3.665.912 Aktien lauten auf Namen und 3.134.088 sind Inhaberaktien. Jede Rosenbauer Aktie berechtigt zu einer Stimme. Es gibt keine Inhaber von Aktien mit besonderen Kontrollrechten. Mitarbeiter, die Aktien besitzen, üben ihre Stimmrechte direkt aus.

7. GEWINNRÜCKLAGEN

Die Gewinnrücklagen haben sich wie folgt entwickelt:

in €	Stand 1.1.2021	Zuweisung	Auflösung/ Verbrauch	Stand 31.12.2021
Gewinnrücklagen
Andere (freie) Rücklagen	148.971.955,77	0,00	10.900.000,00	138.071.955,77

8. RÜCKSTELLUNGEN

Die sonstigen Rückstellungen bestehen insbesondere für:

	31.12.2021	31.12.2020
	EUR	EUR
Personalaufwendungen, Jubiläumsgelder und nicht konsumierte Urlaube	22.371.670,11	20.766.000,00
Gewährleistungen	3.496.000,00	3.431.000,00
Ausstehende Eingangsrechnungen	5.646.301,84	5.819.704,31
Übrige Rückstellungen	3.711.078,86	2.863.449,94
	35.225.050,81	32.880.154,25

In den Personalaufwendungen sind im laufenden Geschäftsjahr Rückstellungen für fixe Mitarbeiterprämien in Höhe von 5.265.570,12 EUR enthalten, die im Vorjahr nicht gebildet wurden. Der im Vorjahr nicht enthaltene Wert für die Rückstellung der fixen Mitarbeiterprämien beträgt 4.938.535,81.

9. VERBINDLICHKEITEN

Die Verbindlichkeiten gliedern sie wie folgt auf:

	mit Restlaufzeit			Gesamt
per 31.12.2021	< 1 Jahr	1–5 Jahre	> 5 Jahre	31.12.2021
	EUR	EUR	EUR	EUR
Verbindlichkeiten gegenüber Kreditinstituten	51.441.056,78	155.300.093,66	0,00	206.741.150,44
Erhaltene Anzahlungen auf Bestellungen		0,00	0,00	0,00
	6.971.667,17
Verbindlichkeiten aus
Lieferungen und Leistungen	37.128.326,47	0,00	0,00	37.128.326,47
Verbindlichkeiten gegenüber verbundenen Unternehmen
aus Finanzverbindlichkeiten	14.487.199,98	0,00	0,00	14.487.199,98
aus Lieferungen und Leistungen	6.752.267,81			6.752.267,81
Sonstige Verbindlichkeiten	7.384.237,82	0,00	0,00	7.384.237,82
	124.164.756,03	155.300.093,66	0,00	279.464.849,69

per 31.12.2020	mit Restlaufzeit < 1 Jahr	1–5 Jahre	> 5 Jahre	Gesamt 31.12.2020
	EUR	EUR	EUR	EUR
Verbindlichkeiten gegenüber Kreditinstituten	11.466.220,40	158.786.086,70	46.000.000,00	216.252.307,10
Erhaltene Anzahlungen auf Bestellungen	10.931.860,21	0,00	0,00	10.931.860,21
Verbindlichkeiten aus Lieferungen und Leistungen	26.148.081,56	0,00	0,00	26.148.081,56
Verbindlichkeiten gegenüber verbundenen Unternehmen
aus Finanzverbindlichkeiten	9.192.146,44	0,00	0,00	9.192.146,44
aus Lieferungen und Leistungen	10.778.682,61			10.778.682,61
Sonstige Verbindlichkeiten	7.042.539,95	0,00	0,00	7.042.539,95
	75.559.531,17	158.786.086,70	46.000.000,00	280.345.617,87

In den Finanzverbindlichkeiten gegenüber den verbunden Unternehmen sind Forderungen aus Steuerumlagen gegenüber der Rosenbauer Österreich GmbH i.H. von EUR 820,000,00 (2020: TEUR 795) enthalten.

Erhaltene Anzahlungen wurden i.H. von EUR 2.911.720,13 mittels Anzahlungsgarantien besichert.

In den sonstigen Verbindlichkeiten sind Provisionsguthaben der ausländischen Vertretungen in der Höhe von EUR 3.215.154,93 (2020: TEUR 2.923) sowie Sozialversicherungsabgaben des Monats Dezember in Höhe von EUR 2.279.371,84 (2020 TEUR 2.169) enthalten. Außerdem sind neben den bereits erwähnten Positionen in den sonstigen Verbindlichkeiten der Rosenbauer International AG weitere Aufwendungen in der Höhe von EUR 1.889.711,07 (2020: TEUR 1.921) enthalten, die erst nach dem Abschlussstichtag zahlungswirksam werden.

In den sonstigen Verbindlichkeiten sind im laufenden Geschäftsjahr Aufwendungen für Altersteilzeitverpflichtungen in Höhe von 780.307,42 EUR enthalten, die im Vorjahr nicht gebildet wurden. Der im Vorjahr nicht enthaltene Wert beträgt 1.265.350,81 EUR.

in €		31.12.2021		31.12.2020
	Stand	davon gegenüber verbundenen Unternehmen	Stand	davon gegenüber verbundenen Unternehmen
Bürgschaften	1.804.034,43	1.804.034,43	4.360.000,00	4.360.000,00
Garantien	1.531.935,00	1.531.935,00	1.411.203,00	1.411.203,00
Patronatserklärungen	16.000.000,00	16.000.000,00	28.000.000,00	28.000.000,00
	19.335.969,43	19.335.969,43	33.771.203,00	33.771.203,00

10. HAFTUNGSVERHÄLTNISSE

11. UMSATZERLÖSE

Die Umsatzerlöse enthalten Fabrikationsumsätze aus der Fahrzeug- und Komponentenproduktion, Handelswarenumsätze sowie Reparatur- und Serviceumsätze und Umsätze aus Ersatzteilverkäufen. Weiters sind unter dieser Position Erlöse aus Dienstleistungen für die Rosenbauer Österreich GmbH enthalten. Die Aufgliederung nach Inlands- und Auslandserlösen ist in Anlage 3 zum Anhang dargestellt.

12. SONSTIGE BETRIEBLICHE ERTRÄGE

in €	2021	2020
Erträge aus dem Abgang vom Anlagevermögen	521.545,00	12.049,66
Erträge aus der Auflösung von Rückstellungen	366.177,93	281.249,30
Forschungsprämie	134.611,20	289.433,78
Versicherungserträge	30.416,75	280.402,49
AMS - Kurzarbeit Covid 19	855.019,47	3.217.498,01
sonstige Erträge	4.235.344,39	1.022.652,77
	6.143.114,74	5.103.286,01

13. PERSONALAUFWAND

Der Posten Aufwand für Abfertigungen und Leistungen an betriebliche Mitarbeitervorsorgekassen enthält:

in €	2021	2020
Aufwendungen für Abfertigungen	1.716.548,92	185.844,94
Aufwendungen für Mitarbeitervorsorge	1.069.414,98	983.435,98
	2.785.963,90	1.169.280,92

Der Posten Aufwendungen für Altersversorgung enthält:

	2021	2020
Aufwendungen aus Pensionszusagen	429.816,73	429.257,32
Ergebnis aus Rückdeckungsversicherung	306.207,00	–105.400,50
	736.023,73	323.856,82

Die Veränderung der Jubiläums-, Abfertigungs- und Pensionsrückstellung wird zur Gänze im Personalaufwand erfasst. In der Summe der Gehälter und Löhne ist ein Ertrag in Höhe von EUR 484.100,00 (Aufwand 2020: TEUR 240) aus der Veränderung der Jubiläumsgeldrückstellung sowie ein Ertrag in Höhe von EUR 14.300,00 (Ertrag in 2020: TEUR 2.004) aus der Veränderung der Abfertigungsrückstellung enthalten.

Im Jahr 2021 wurde kein weiterer Aufwand (2020: TEUR 1.231) aus der Verteilung des Unterschiedsbetrages der Abfertigungsrückstellungen durch die erstmalige Anwendung des RÄG 2014 im Jahresabschluss 2016 erfasst, da die Verteilungsdauer von 5 Jahren erreicht wurde.

In den Löhnen und Gehältern sind im Jahr 2021 in Höhe von EUR 5.265.570,12 Aufwendungen für die erstmalige Dotierung von Rückstellungen für fixe Mitarbeiterprämien sowie für die Verpflichtung aus Altersteilzeit in Höhe von EUR 780.307,42 enthalten. Aufwendungen in Höhe von EUR 4.938.535,81 für fixe Mitarbeiterprämien sowie in Höhe von EUR 1.265.350,81 für Altersteilzeit waren im Vorjahr nicht rückgestellt und führten durch die Fehlerkorrektur im Geschäftsjahr 2021 zu einer zusätzlichen Belastung des Personalaufwands und zu aperiodischen Effekten in diesem Ausmaß.

in €	2021	2020
Raumaufwand	4.858.655,97	4.435.999,84
Fuhrpark	658.872,34	654.942,74
Bankspesen	1.416.318,15	1.237.866,07
Rechts- Beratungskosten	2.879.068,22	2.650.302,49
Kosten EDV	3.724.019,01	3.454.431,00
Patente und Lizenzen	1.550.545,15	845.178,83
Versicherungen	871.924,72	785.125,16
Reisekosten	2.474.384,21	2.919.343,14
Kursverluste	0,00	304.658,73
Fremde Löhne	3.173.970,47	5.189.588,33
Entwicklungskosten	2.719.258,90	2.095.200,19
Werbeaufwand	2.655.697,43	2.538.123,44
Fracht und Verpackung	7.479.172,74	9.698.221,35
Sonstige Aufwendungen	12.464.707,15	9.963.543,03
	46.926.594,46	46.772.524,34

14. SONSTIGE BETRIEBLICHE AUFWENDUNGEN

15. STEUERN

Gemäß § 198 Abs 9 UGB besteht für große Kapitalgesellschaften eine Aktivierungspflicht für aktive latente Steuern aus Ständedifferenzen. Die aktiven latenten Steuern zum Bilanzstichtag wurden auf Ebene der Rosenbauer International AG für temporäre Differenzen zwischen dem steuerlichen und unternehmensrechtlichen Wertansatz für folgende Positionen gebildet:

Aktivierter Verlustvortrag 20.134.360 Sachanlagen –86.729 Langfristige Personalrückstellungen 9.612.927 Sonstige Rückstellungen 5.976.499 Offene Siebentelbeträge aus Teilwertabschreibung 2.100.000	0 398.292 9.073.258 7.582.367 2.914.284 19.968.201
Betrag Gesamtdifferenzen 37.737.057
daraus resultierende latente Steuern per 31.12. (25%) (+aktiv/- passiv) 9.434.264	4.992.050
zuzüglich latente Steuern Personengesellschaft Rosenbauer Karlsruhe GmbH & Co. KG 0	438.000
9.434.264	5.430.050
Die latenten Steuern entwickelten sich wie folgt:
in € 31.12.2021	31.12.2020
Stand am 1.1. 5.430.050	5.787.589
erfolgswirksame Veränderung 4.004.214	–357.539
Stand am 31.12. 9.434.264	5.430.050

Die Rosenbauer International AG als Gruppenträger bildet mit der Rosenbauer Österreich GmbH, der Rosenbauer Brandschutz GmbH, der Rosenbauer E-Technology Development GmbH und der Apac Holding GmbH als Gruppenmitglieder eine Unternehmensgruppe iSd § 9 KStG. Die Steuerumlagevereinbarung mit allen Gruppenmitgliedern besteht grundsätzlich in der Belastungsmethode mit der Vereinbarung des Schlussausgleichs über in der Gruppe noch nicht verwendete Verlustvorträge.

Der laufende Körperschaftsteuerertrag in Höhe von EUR 3.488.806,20 gliedert sich wie folgt:

in €	31.12.2021	31.12.2020
Körperschaftsteuer	1.671.810,00	4.306.383,18
Aktivierter Verlustvortrag	–5.033.590,00	0,00
Aktive Latenz	1.029.377,00	357.539,00
Steuerumlagen	–820.000,00	–795.000,00
KEST aus Zinsertrag WP	438,71	0,00
Ausländische Quellensteuern	58.722,86	154.372,26
Aperiodischer Seueraufwand/Ertrag	–395.564,77	–60.260,00
	–3.488.806,20	3.963.034,44

16. ZAHL DER MITARBEITER

Jahresdurchschnitt	2021	2020
Arbeiter	788	800
Angestellte	613	580
Lehrlinge	90	95
	1.491	1.475

17. DERIVATIVE FINANZINSTRUMENTE

Bei Vorliegen der Voraussetzungen werden Bewertungseinheiten gebildet. Da in diesem Fall die derivativen Finanzinstrumente eine Bewertungseinheit mit dem zugrundeliegenden Projekt darstellen (eine effektive Hedgebeziehung liegt vor), erfolgt keine Erfassung der negativen Marktwerte in Form einer Drohverlustrückstellung. Liegen die Voraussetzungen nicht vor, werden für negative Marktwerte Rückstellungen für drohende Verluste aus schwebenden Geschäften gebildet.

Es wurde ein prospektiver Effektivitätstest nach der "critical terms match" Methode durchgeführt sowie ein retrospektiver Effektivitätstest nach der "cumulative dollar-offset" Methode, wenn die Critical Terms nicht ident waren. Der ineffektive Teil einer wirksamen Sicherungsbeziehung wird in diesem Fall sofort erfolgswirksam erfasst. Im Jahr 2021 betrug dieser EUR 0,00 (2020: TEUR 0) und wurde unter den Finanzierungsaufwendungen ausgewiesen.

a) Devisentermingeschäfte

Zur Absicherung von Fremdwährungsforderungen und -verbindlichkeiten (überwiegend USD) werden derivative Finanzinstrumente wie Devisentermingeschäfte eingesetzt, um den Kalkulationskurs des Grundgeschäftes abzusichern. Das Grundgeschäft besteht in der Regel aus Fahrzeuglieferungen mit einer Durchlaufzeit von bis zu 12 Monaten. Bei größeren Aufträgen kann die Lieferzeit mehr als 12 Monate betragen. Dementsprechend beträgt auch hier die Fälligkeit der Derivate mehr als 12 Monate. Absicherungen erfolgen auch für noch nicht bilanzierte Zahlungseingänge und Zahlungsausgänge. Bei mehrjährigen, im Detail geplanten und von allen relevanten Stellen bewilligten Projekten mit hinreichender Finanzierung kann der Cash Flow auch aus später abzuschließenden Verträgen resultieren, wenn dieser Cash Flow im Projektplan enthalten und die Projektdurchführung so gut wie sicher ist.

Zum Bilanzstichtag hatte die Rosenbauer International AG Mikro-Hedging-Sicherungsbeziehungen (ein Devisentermingeschäft für genau ein Grundgeschäft) im Bestand, die in den meisten Fällen innerhalb des nächsten Geschäftsjahres auslaufen. Terminkäufe werden nicht mit Terminverkäufen aufgerechnet sondern im gesamten Marktwert additiv dargestellt. Der Fair Value leitet sich aus den Beträgen ab, zu denen die betreffenden Finanzgeschäfte am Bilanzstichtag gehandelt werden, ohne Berücksichtigung gegenläufiger Wertentwicklungen aus den Grundgeschäften. Für Derivate, die Bestandteil einer Bewertungsewinheit sind, wird im Falle von negativen beizulegenden Zeitwerten, keine Rückstellung für Drohverluste gebildet.

in EUR	2021	2020
Bewertung Devistentermingeschäfte als Bestandteil einer Bewertungseinheit
Nominalbetrag	94.199.533,54	97.123.541,09
Positiver Marktwert	264.021,52	6.786.178,74
Negativer Marktwert	2.360.936,75	84.579,62

Bewertung Devistentermingeschäfte als Nicht-Bestandteil einer Bewertungseinheit

Nominalbetrag	0,00	0,00
Positiver Marktwert	0,00	0,00
Negativer Marktwert	0,00	0,00

Der Buchwert der Devisentermingeschäfte, der im Bilanzposten "Sonstige Rückstellungen" enthalten ist, beträgt zum Stichtag EUR 0,00 (2020: TEUR 0).

b) Zinssicherungsgeschäfte

Zins- bzw. Zinsänderungsrisken liegen vor allem bei Forderungen und Verbindlichkeiten mit Laufzeiten über einem Jahr vor.

Aktivseitig besteht ein Zinsänderungsrisiko lediglich bei den in den Finanzanlagen enthaltenen Wertpapieren. Durch regelmäßige Beobachtung der Zinsentwicklung und der daraus abzuleitenden Umschichtung der Wertpapierbestände, sind die Reduktion des Zinsänderungsrisikos und eine Optimierung der Erträge möglich.

Langfristige Verbindlichkeiten gegenüber Banken bestehen aus Krediten für diverse Investitionen in das operative Geschäft.

18. BETEILIGUNGSUNTERNEHMEN

Sieh Beilage.

19. SONSTIGE ANGABEN

Die Aufwendungen für Abfertigungen inkl. Mitarbeitervorsorgekassen und Pensionen teilen sich wie folgt auf:

in €	2021	2020
Vorstand und leitende Mitarbeiter	899.187,61	–70.862,50
Andere Arbeitnehmer	2.622.800,02	1.564.000,24
	3.521.987,63	1.493.137,74

Die Vergütung des Vorstandes (ohne Sachbezüge) setzt sich aus einem fixen Bestandteil samt geldwerten Vorteilen und einem variablen Bestandteil zusammen. Die Bezüge der Mitglieder des Vorstandes betrugen 2021 in Summe EUR 1.867.777,25 (2020: TEUR 2.382) und gliedern sich in einen Fixbezug von EUR 1.286.347,29 (2020: TEUR 1.268) und in einen variablen Bezug von EUR 581.429,96 (2020: TEUR 1.114). Darüber hinaus wird jedem Vorstandsmitglied ein marktübliches Dienstfahrzeug zur Verfügung gestellt, das auch privat genutzt werden kann.

20. HONORAR DES WIRTSCHAFTSPRÜFERS

Für im Geschäftsjahr 2021 erbrachte Leistungen des Abschlussprüfers KPMG Austria GmbH, Wirtschaftsprüfungs- und Steuerberatungsgesellschaft wurden EUR 162.938,50 (2020: TEUR 103,0) aufgewendet. Davon betrafen EUR 110.103,00 (2020: TEUR 103,0) die Abschlussprüfung, EUR 18.200,00 (2020: TEUR 0) andere Bestätigungsleistungen und EUR 34.635,50 (2020: TEUR 0) sonstige Dienstleistungen.

21. GEWINNVERWENDUNGSVORSCHLAG

Das Geschäftsjahr 2021 schließt mit einem Bilanzgewinn von EUR 6.271.043,34. Der Vorstand schlägt vor, diesen Bilanzgewinn wie folgt zu verwenden: Ausschüttung einer Dividende p.a. von EUR 0,90 (2020: EUR 1,5) je Aktie (das sind EUR 6.120.000,00 für 6.800.000 Stückaktien). Vortrag auf neue Rechnung: EUR 151.043,34.

22. NAHESTEHENDE UNTERNEHMEN UND PERSONEN

Im Geschäftsjahr 2021 wurden von keiner nahestehenden Person des Aufsichtsrates sowie des Vorstandes Leistungen bezogen (2020: TEUR 0).

23. EREIGNISSE NACH DEM BILANZSTICHTAG

Zur COVID-19-Pandemie und den daraus folgenden Schwierigkeiten in den Lieferketten und in der Produktionsplanung, verstärkt sich der Druck auf den internationalen Energie- und Rohstoffmärkten durch den Ende Februar begonnen Ukraine-Krieg. Rosenbauer ist zwar nicht direkt durch diese Krisen betroffen, allerdings werden die schwierigen Rahmenbedingungen, die auch das Jahr 2021 belastet haben, weiter anhalten. Eine wesentliche Auswirkung auf die Werthaltigkeit der Bilanzansätze zum 31.12.2021 haben die Krisen derzeit nicht, allerdings wird das Erreichen der Ziele für das Jahr 2022 zunehmend schwieriger. Von Vorteil ist, das Rosenbauer auf den direkt betroffenen Märkten (Ukraine, Russland und Weißrussland) nur ein geringes Geschäftsvolumen hat. Der Beteiligungsansatz in der PA "Fire-fighting special technics" LLC., Moskau, Russland, mit einem Buchwert von aktuell TEUR 1500,1 stellt auch das maximale direkte Buchwertrisiko dar, indirekte Effekte über die Versorgungsschwierigkeiten können zum Zeitpunkt der Aufstellung des Berichts nicht abgeschätzt werden.

Am 20. Jänner 2022 wurde in Österreich die stufenweise Senkung des Körperschaftsteuersatzes von 25 Prozent auf 23 Prozent mit Wirkung ab dem 1. Jänner 2023 beschlossen. Diese Senkung wirkt sich nicht auf die zum 31. Dezember 2021 erfassten tatsächlichen oder latenten Steuern aus. Wenn die geänderten Steuersätze für die Berechnung der Steuerabgrenzung zum 31. Dezember 2021 verwendet worden wären, hätten sich die aktiven latenten Steuern um 754,7 TEUR vermindert. Allerdings wird auf Grund der zu erwartenden positiven Ergebnisse in Österreich die Steuersenkung einen insgesamt deutlich positiven Effekt bringen.

Neben den beschriebenen Ereignissen sind nach dem Bilanzstichtag zum 31. Dezember 2021 keine weiteren Vorgänge von besonderer Bedeutung für die Gesellschaft eingetreten, die zu einer Änderung der Vermögens-, Finanz- und Ertragslage geführt hätten.

24. ORGANE DER GESELLSCHAFT UND DES KONZERNS

Aufsichtsrat

Christian Reisinger Vorsitzender des Aufsichtsrates

Rainer Siegel Stellvertretender Vorsitzender des Aufsichtsrates

Bernhard Matzner Mitglied des Aufsichtsrates

Martin Zehnder Mitglied des Aufsichtsrates

Dem Aufsichtsrat wurden im Geschäftsjahr 2021 Vergütungen in der Höhe von TEUR 169,0 (2020: TEUR 251,0) gewährt.

Vom Betriebsrat in den Aufsichtsrat delegiert

Wolfgang Untersberger Rudolf Aichinger

Vorstand

Dieter Siegel Vorsitzender des Vorstandes

Andreas Zeller Stellvertretender Vorsitzender des Vorstandes

Daniel Tomaschko Mitglied des Vorstandes

Sebastian Wolf Mitglied des Vorstandes

25. BEZIEHUNGEN ZU VERBUNDENEN UNTERNEHMEN

Das den Konzernabschluss erstellende Mutterunternehmen ist die Rosenbauer International AG mit Sitz in Leonding/Linz, Paschinger Str. 90. Der Konzernabschluss liegt beim Landesgericht Linz (FN 78543f) auf.

Zwischen der Rosenbauer International AG und dem Großteil Ihrer verbundenen Unternehmen bestehen Lieferund Leistungsbeziehungen aus der ordentlichen Geschäftstätigkeit. Die Rosenbauer International AG als Gruppenträger bildet mit der Rosenbauer Österreich GmbH, der Rosenbauer Brandschutz GmbH, der Rosenbauer E-Technology Development GmbH und der APAC Holding GmbH als Gruppenmitglieder eine Unternehmensgruppe iSd § 9 KStG. Die Steuerumlagevereinbarung mit allen Gruppenmitgliedern besteht grundsätzlich in der Belastungsmethode mit der Vereinbarung des Schlussausgleichs über in der Gruppe noch nicht verwendete Verlustvorträge.

Bei den immateriellen Vermögenswerten erfolgte im Jahr 2021 ein Verkauf von Entwicklungsleistungen der Rosenbauer Karlsruhe GmbH an die Rosenbauer International AG in Höhe von 1.402.152,00 Euro (2020: 1.554.653,10 Euro).

Leonding, am 25. März 2022

Der Vorstand:

Dieter Siegel Andreas Zeller Daniel Tomaschko Sebastian Wolf

Bestätigungsvermerk

BERICHT ZUM JAHRESABSCHLUSS

PRÜFUNGSURTEIL

Wir haben den Jahresabschluss der Rosenbauer International AG, Leonding, bestehend aus der Bilanz zum 31. Dezember 2021, der Gewinn- und Verlustrechnung für das an diesem Stichtag endende Geschäftsjahr und dem Anhang, geprüft.

Nach unserer Beurteilung entspricht der Jahresabschluss den gesetzlichen Vorschriften und vermittelt ein möglichst getreues Bild der Vermögens- und Finanzlage zum 31. Dezember 2021 sowie der Ertragslage der Gesellschaft für das an diesem Stichtag endende Geschäftsjahr in Übereinstimmung mit den österreichischen unternehmensrechtlichen Vorschriften.

GRUNDLAGE FÜR DAS PRÜFUNGSURTEIL

Wir haben unsere Abschlussprüfung in Übereinstimmung mit der EU-Verordnung Nr 537/2014 (im Folgenden AP-VO) und mit den österreichischen Grundsätzen ordnungsgemäßer Abschlussprüfung durchgeführt. Diese Grundsätze erfordern die Anwendung der International Standards on Auditing (ISA). Unsere Verantwortlichkeiten nach diesen Vorschriften und Standards sind im Abschnitt "Verantwortlichkeiten des Abschlussprüfers für die Prüfung des Jahresabschlusses" unseres Bestätigungsvermerks weitergehend beschrieben. Wir sind von der Gesellschaft unabhängig in Übereinstimmung mit den österreichischen unternehmens- und berufsrechtlichen Vorschriften und wir haben unsere sonstigen beruflichen Pflichten in Übereinstimmung mit diesen Anforderungen erfüllt. Wir sind der Auffassung, dass die von uns erlangten Prüfungsnachweise bis zum Datum dieses Bestätigungsvermerkes ausreichend und geeignet sind, um als Grundlage für unser Prüfungsurteil zu diesem Datum zu dienen.

BESONDERS WICHTIGE PRÜFUNGSSACHVERHALTE

Besonders wichtige Prüfungssachverhalte sind solche Sachverhalte, die nach unserem pflichtgemäßen Ermessen am bedeutsamsten für unsere Prüfung des Jahresabschlusses des Geschäftsjahres waren. Diese Sachverhalte wurden im Zusammenhang mit unserer Prüfung des Jahresabschlusses als Ganzes und bei der Bildung unseres Prüfungsurteils hierzu berücksichtigt und wir geben kein gesondertes Prüfungsurteil zu diesen Sachverhalten ab.

Werthaltigkeit der Anteile an verbundenen Unternehmen sowie Forderungen gegenüber verbundenen Unternehmen

Siehe Erläuterungen im Anhang, Abschnitt 2 Bilanzierungs- und Bewertungsgrundsätze und Abschnitt 4 zu Forderungen und sonstigen Vermögensgegenständen sowie Anlagenspiegel zum 31. Dezember 2021.

Das Risiko für den Abschluss

Im Jahresabschluss der Rosenbauer International AG zum 31. Dezember 2021 sind die Anteile an verbundenen Unternehmen (76,2 Mio. €) und Forderungen gegenüber verbundenen Unternehmen (99,9 Mio. €) ausgewiesen.

Für sämtliche bedeutsame Anteile an verbundenen Unternehmen beurteilt Rosenbauer International AG, ob Anhaltspunkte für einen wesentlich gesunkenen beizulegenden Wert vorliegen. Liegen solche Anhaltspunkte vor, wird für das betroffene verbundene Unternehmen eine Unternehmensbewertung durchgeführt und der Buchwert der Anteile auf das Ergebnis der Unternehmensbewertung abgeschrieben.

Die Beurteilung, ob Anhaltspunkte für einen wesentlich gesunkenen beizulegenden Wert vorliegen, sowie der Werthaltigkeit von Anteilen an verbundenen Unternehmen und Forderungen gegenüber verbundenen Unternehmen erfordert Schätzungen und Ermessensentscheidungen der gesetzlichen Vertreter.

Für den Abschluss besteht das Risiko, dass die Anteile an und Forderungen gegenüber verbundenen Unternehmen nicht ordnungsgemäß bewertet sind und folglich der Jahresüberschuss nicht zutreffend ermittelt ist. Das wesentliche Risiko besteht dabei insbesondere in der Schätzung der zukünftigen Cash-Flows, welche zur Feststellung der Werthaltigkeit herangezogen werden. Diese Cash-Flow Schätzungen beinhalten Annahmen, die von zukünftigen Markt- und Wirtschaftsentwicklungen beeinflusst werden.

Unsere Vorgehensweise in der Prüfung

Bei der Prüfung der Werthaltigkeit der Anteile an verbundenen Unternehmen sowie Forderungen gegenüber verbundenen Unternehmen haben wir folgende Prüfungshandlungen durchgeführt:

• Wir haben die vom Unternehmen durchgeführte Analyse der Anhaltspunkte für einen wesentlich gesunkenen beizulegenden Wert (einschließlich der Deckung des Beteiligungsansatzes durch das anteilige Eigenkapital) der Anteile an verbundenen Unternehmen nachvollzogen. Zudem haben wir in Gesprächen mit den gesetzlichen Vertretern erörtert, ob darüberhinausgehende Anhaltspunkte für einen wesentlich gesunkenen beizulegenden Wert der Anteile an verbundenen Unternehmen vorliegen.
• Zur Beurteilung der Angemessenheit der zugrunde gelegten internen Planungen, haben wir uns ein Verständnis über den Planungsprozess und der Gestaltung und Einrichtung der diesbezüglichen internen Kontrollen verschafft und die der Bewertung zugrunde gelegten Planungsdaten mit den aktuellen vom Aufsichtsrat bzw. Gesellschaftern genehmigten Budgetzahlen sowie der Mittelfristplanung abgeglichen.
• Die wesentlichen wertbestimmenden Annahmen haben wir mit den verantwortlichen Mitarbeitern eingehend besprochen und Erwartungen über die künftigen Entwicklungen mit den vom Unternehmen verwendeten externen Markteinschätzungen abgeglichen.
• Die Planungsgenauigkeit haben wir durch Vergleich der in den Vorjahren erfolgten Planungen mit den tatsächlich eingetretenen Werten beurteilt.
• Die Methodik zur Durchführung des Wertminderungstests sowie zur Ermittlung der Kapitalkostensätze haben wir unter Einbindung unseres Bewertungsspezialisten nachvollzogen und beurteilt, ob sie den entsprechenden Standards entsprechen. Die zur Festlegung der Kapitalkostensätze herangezogenen Annahmen haben wir durch einen Abgleich mit markt- und branchenspezifischen Richtwerten hinsichtlich ihrer Angemessenheit beurteilt und die rechnerische Richtigkeit des Berechnungsschemas überprüft.
• Bei Forderungen gegenüber verbundenen Unternehmen, die nicht bereits durch die Bewertung der Anteile an verbundenen Unternehmen abgedeckt waren, haben wir weiters mittels Überfälligkeitsanalysen überprüft, ob Wertberichtigungsbedarf bei diesen Positionen gegeben ist. Dabei haben wir auch die finanzielle Situation der verbundenen Unternehmen gewürdigt.
• Abschließend haben wir untersucht, ob die Erläuterungen der Rosenbauer International AG zu Finanzanlagen und Forderungen gegenüber verbundenen Unternehmen im Anhang vollständig und sachgerecht sind.

Werthaltigkeit der Forderungen aus Lieferungen und Leistungen

Siehe Erläuterungen im Anhang, Abschnitt 2 Bilanzierungs- und Bewertungsgrundsätze sowie Abschnitt 4 Forderungen und sonstigen Vermögensgegenständen zum 31. Dezember 2021.

Das Risiko für den Abschluss

Im Jahresabschluss der Rosenbauer International AG zum 31. Dezember 2021 sind Forderungen aus Lieferungen und Leistungen in Höhe von 59,5 Mio. € ausgewiesen.

Die Werthaltigkeit der Forderungen aus Lieferungen und Leistungen basiert auf der Einschätzung der Bonität der Kunden durch die gesetzlichen Vertreter. Diese wird jährlich im Rahmen der Abschlusserstellung durchgeführt.

Für den Abschluss besteht das Risiko, dass die Forderungen aus Lieferungen und Leistungen nicht ordnungsgemäß bewertet sind und folglich der Jahresüberschuss nicht zutreffend ermittelt ist. Das wesentliche Risiko besteht dabei in der Einschätzung der Zahlungswilligkeit und Zahlungsfähigkeit von Kunden die vertraglich vereinbarten Rückflüsse in voller Höhe zu leisten – insbesondere jene mit überfälligen Forderungen.

Unsere Vorgehensweise in der Prüfung

Bei der Prüfung der Werthaltigkeit der Forderungen aus Lieferungen und Leistungen haben wir folgende wesentliche Prüfungshandlungen durchgeführt:

• Wir haben uns ein Verständnis über den Prozessablauf und den darin implementierten Kontrollen zur Überwachung der Risikovorsorge von Kundenforderungen erlangt und kritisch analysiert, ob diese Prozesse geeignet sind, Kreditausfälle zu identifizieren und die Werthaltigkeit der Kundenforderungen angemessen abzubilden.
• Weiters haben wir auf Basis einer Stichprobe untersucht, ob Indikatoren für Kreditausfälle bestehen und Risikovorsorgen ausreichend gebildet wurden. Die Auswahl der Stichprobe erfolgte risikoorientiert auf Basis einer Analyse der Überfälligkeitsstruktur der Kundenforderungen zum 31. Dezember 2021.
• Wir haben zudem bei Positionen, denen Ermessensentscheidungen zu Grunde liegen, Besprechungen mit dem Management durchgeführt. Dabei haben wir besonderes Augenmerk auf die ermessensbehafteten Elemente in den vertraglichen Grundlagen, den erhaltenen Dokumentationen und sonstigen internen und externen Informationen gelegt.
• Abschließend haben wir eine Abstattungsprüfung der Kundenforderungen zum Prüfungszeitpunkt durchgeführt, indem wir überprüft haben, für welche Kunden bereits Zahlungseingänge nachgewiesen werden konnten und somit die Werthaltigkeit der Forderungen nachgewiesen wurde.

VERANTWORTLICHKEITEN DER GESETZLICHEN VERTRETER UND DES PRÜFUNGSAUSSCHUSSES FÜR DEN JAHRESABSCHLUSS

Die gesetzlichen Vertreter sind verantwortlich für die Aufstellung des Jahresabschlusses und dafür, dass dieser in Übereinstimmung mit den österreichischen unternehmensrechtlichen Vorschriften ein möglichst getreues Bild der Vermögens-, Finanz- und Ertragslage der Gesellschaft vermittelt. Ferner sind die gesetzlichen Vertreter verantwortlich für die internen Kontrollen, die sie als notwendig erachten, um die Aufstellung eines Jahresabschlusses zu ermöglichen, der frei von wesentlichen falschen Darstellungen aufgrund von dolosen Handlungen oder Irrtümern ist.

Bei der Aufstellung des Jahresabschlusses sind die gesetzlichen Vertreter dafür verantwortlich, die Fähigkeit der Gesellschaft zur Fortführung der Unternehmenstätigkeit zu beurteilen, Sachverhalte im Zusammenhang mit der Fortführung der Unternehmenstätigkeit – sofern einschlägig – anzugeben, sowie dafür, den Rechnungslegungsgrundsatz der Fortführung der Unternehmenstätigkeit anzuwenden, es sei denn, die gesetzlichen Vertreter beabsichtigen, entweder die Gesellschaft zu liquidieren oder die Unternehmenstätigkeit einzustellen oder haben keine realistische Alternative dazu.

Der Prüfungsausschuss ist verantwortlich für die Überwachung des Rechnungslegungsprozesses der Gesellschaft.

VERANTWORTLICHKEITEN DES ABSCHLUSSPRÜFERS FÜR DIE PRÜFUNG DES JAHRESABSCHLUSSES

Unsere Ziele sind hinreichende Sicherheit darüber zu erlangen, ob der Jahresabschluss als Ganzes frei von wesentlichen falschen Darstellungen aufgrund von dolosen Handlungen oder Irrtümern ist und einen Bestätigungsvermerk zu erteilen, der unser Prüfungsurteil beinhaltet. Hinreichende Sicherheit ist ein hohes Maß an Sicherheit, aber keine Garantie dafür, dass eine in Übereinstimmung mit der AP-VO und mit den österreichischen Grundsätzen ordnungsgemäßer Abschlussprüfung, die die Anwendung der ISA erfordern, durchgeführte

Abschlussprüfung eine wesentliche falsche Darstellung, falls eine solche vorliegt, stets aufdeckt. Falsche Darstellungen können aus dolosen Handlungen oder Irrtümern resultieren und werden als wesentlich angesehen, wenn von ihnen einzeln oder insgesamt vernünftigerweise erwartet werden könnte, dass sie die auf der Grundlage dieses Jahresabschlusses getroffenen wirtschaftlichen Entscheidungen von Nutzern beeinflussen.

Als Teil einer Abschlussprüfung in Übereinstimmung mit der AP-VO und mit den österreichischen Grundsätzen ordnungsgemäßer Abschlussprüfung, die die Anwendung der ISA erfordern, üben wir während der gesamten Abschlussprüfung pflichtgemäßes Ermessen aus und bewahren eine kritische Grundhaltung.

Darüber hinaus gilt:

• Wir identifizieren und beurteilen die Risiken wesentlicher falscher Darstellungen aufgrund von dolosen Handlungen oder Irrtümern im Abschluss, planen Prüfungshandlungen als Reaktion auf diese Risiken, führen sie durch und erlangen Prüfungsnachweise, die ausreichend und geeignet sind, um als Grundlage für unser Prüfungsurteil zu dienen. Das Risiko, dass aus dolosen Handlungen resultierende wesentliche falsche Darstellungen nicht aufgedeckt werden, ist höher als ein aus Irrtümern resultierendes, da dolose Handlungen kollusives Zusammenwirken, Fälschungen, beabsichtigte Unvollständigkeiten, irreführende Darstellungen oder das Außerkraftsetzen interner Kontrollen beinhalten können.
• Wir gewinnen ein Verständnis von dem für die Abschlussprüfung relevanten internen Kontrollsystem, um Prüfungshandlungen zu planen, die unter den gegebenen Umständen angemessen sind, jedoch nicht mit dem Ziel, ein Prüfungsurteil zur Wirksamkeit des internen Kontrollsystems der Gesellschaft abzugeben.
• Wir beurteilen die Angemessenheit der von den gesetzlichen Vertretern angewandten Rechnungslegungsmethoden sowie die Vertretbarkeit der von den gesetzlichen Vertretern dargestellten geschätzten Werte in der Rechnungslegung und damit zusammenhängende Angaben.
• Wir ziehen Schlussfolgerungen über die Angemessenheit der Anwendung des Rechnungslegungsgrundsatzes der Fortführung der Unternehmenstätigkeit durch die gesetzlichen Vertreter sowie, auf der Grundlage der erlangten Prüfungsnachweise, ob eine wesentliche Unsicherheit im Zusammenhang mit Ereignissen oder Gegebenheiten besteht, die erhebliche Zweifel an der Fähigkeit der Gesellschaft zur Fortführung der Unternehmenstätigkeit aufwerfen können. Falls wir die Schlussfolgerung ziehen, dass eine wesentliche Unsicherheit besteht, sind wir verpflichtet, in unserem Bestätigungsvermerk auf die dazugehörigen Angaben im Jahresabschluss aufmerksam zu machen oder, falls diese Angaben unangemessen sind, unser Prüfungsurteil zu modifizieren. Wir ziehen unsere Schlussfolgerungen auf der Grundlage der bis zum Datum unseres Bestätigungsvermerks erlangten Prüfungsnachweise. Zukünftige Ereignisse oder Gegebenheiten können jedoch die Abkehr der Gesellschaft von der Fortführung der Unternehmenstätigkeit zur Folge haben.
• Wir beurteilen die Gesamtdarstellung, den Aufbau und den Inhalt des Jahresabschlusses einschließlich der Angaben sowie ob der Jahresabschluss die zugrunde liegenden Geschäftsvorfälle und Ereignisse in einer Weise wiedergibt, dass ein möglichst getreues Bild erreicht wird.
• Wir tauschen uns mit dem Prüfungsausschuss unter anderem über den geplanten Umfang und die geplante zeitliche Einteilung der Abschlussprüfung sowie über bedeutsame Prüfungsfeststellungen, einschließlich etwaiger bedeutsamer Mängel im internen Kontrollsystem, die wir während unserer Abschlussprüfung erkennen, aus.
• Wir geben dem Prüfungsausschuss auch eine Erklärung ab, dass wir die relevanten beruflichen Verhaltensanforderungen zur Unabhängigkeit eingehalten haben und uns mit ihm über alle Beziehungen und sonstigen Sachverhalte austauschen, von denen vernünftigerweise angenommen werden kann, dass sie sich auf unsere Unabhängigkeit und – sofern einschlägig – damit zusammenhängende Schutzmaßnahmen auswirken.
• Wir bestimmen von den Sachverhalten, über die wir uns mit dem Prüfungsausschuss ausgetauscht haben, diejenigen Sachverhalte, die am bedeutsamsten für die Prüfung des Jahresabschlusses des Geschäftsjahres waren und daher die besonders wichtigen Prüfungssachverhalte sind. Wir beschreiben diese Sachverhalte in unserem Bestätigungsvermerk, es sei denn, Gesetze oder andere Rechtsvorschriften schließen die öffentliche Angabe des Sachverhalts aus oder wir bestimmen in äußerst seltenen Fällen, dass ein Sachverhalt nicht in unserem Bestätigungsvermerk mitgeteilt werden sollte, weil vernünftigerweise erwartet wird, dass die negativen Folgen einer solchen Mitteilung deren Vorteile für das öffentliche Interesse übersteigen würden.

SONSTIGE GESETZLICHE UND ANDERE RECHTLICHE ANFORDERUNGEN

BERICHT ZUM LAGEBERICHT

Der Lagebericht ist aufgrund der österreichischen unternehmensrechtlichen Vorschriften darauf zu prüfen, ob er mit dem Jahresabschluss in Einklang steht und ob er nach den geltenden rechtlichen Anforderungen aufgestellt wurde.

Die gesetzlichen Vertreter sind verantwortlich für die Aufstellung des Lageberichts in Übereinstimmung mit den österreichischen unternehmensrechtlichen Vorschriften.

Wir haben unsere Prüfung in Übereinstimmung mit den Berufsgrundsätzen zur Prüfung des Lageberichts durchgeführt.

Urteil

Nach unserer Beurteilung ist der Lagebericht nach den geltenden rechtlichen Anforderungen aufgestellt worden, enthält die nach § 243a UGB zutreffenden Angaben, und steht in Einklang mit dem Jahresabschluss.

Erklärung

Angesichts der bei der Prüfung des Jahresabschlusses gewonnenen Erkenntnisse und des gewonnenen Verständnisses über die Gesellschaft und ihr Umfeld haben wir keine wesentlichen fehlerhaften Angaben im Lagebericht festgestellt.

ZUSÄTZLICHE ANGABEN NACH ARTIKEL 10 AP-VO

Wir wurden von der Hauptversammlung am 26. Mai 2021 als Abschlussprüfer gewählt und am 17. Juli 2021 vom Aufsichtsrat mit der Abschlussprüfung der Gesellschaft für das am 31. Dezember 2021 endende Geschäftsjahr beauftragt.

Wir sind ohne Unterbrechung seit dem Jahresabschluss zum 31. Dezember 2020 Abschlussprüfer der Gesellschaft.

Wir erklären, dass das Prüfungsurteil im Abschnitt "Bericht zum Jahresabschluss" mit dem zusätzlichen Bericht an den Prüfungsausschuss nach Artikel 11 der AP-VO in Einklang steht.

Wir erklären, dass wir keine verbotenen Nichtprüfungsleistungen (Artikel 5 Abs 1 der AP-VO) erbracht haben und dass wir bei der Durchführung der Abschlussprüfung unsere Unabhängigkeit von der geprüften Gesellschaft gewahrt haben.

AUFTRAGSVERANTWORTLICHER WIRTSCHAFTSPRÜFER

Der für die Abschlussprüfung auftragsverantwortliche Wirtschaftsprüfer ist Herr Mag. Christoph Karer.

Linz, 25. März 2022

KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft

qualifiziert elektronisch signiert: Mag. Christoph Karer Wirtschaftsprüfer

Erklärung der gesetzlichen Vertreter

Wir bestätigen nach bestem Wissen, dass der im Einklang mit den maßgebenden Rechnungslegungsstandards aufgestellte Konzernabschluss ein möglichst getreues Bild der Vermögens-, Finanz- und Ertragslage des Konzerns vermittelt, dass der Konzernlagebericht den Geschäftsverlauf, das Geschäftsergebnis und die Lage des Konzerns so darstellt, dass ein möglichst getreues Bild der Vermögens-, Finanz- und Ertragslage des Konzerns entsteht, und dass der Konzernlagebericht die wesentlichen Risiken und Ungewissheiten beschreibt, denen der Konzern ausgesetzt ist.

Wir bestätigen nach bestem Wissen, dass der im Einklang mit den maßgebenden Rechnungslegungsstandards aufgestellte Jahresabschluss des Mutterunternehmens ein möglichst getreues Bild der Vermögens-, Finanz- und Ertragslage des Unternehmens vermittelt, dass der Lagebericht den Geschäftsverlauf, das Geschäftsergebnis und die Lage des Unternehmens so darstellt, dass ein möglichst getreues Bild der Vermögens-, Finanz- und Ertragslage entsteht, und dass der Lagebericht die wesentlichen Risiken und Ungewissheiten beschreibt, denen das Unternehmen ausgesetzt ist.

Leonding, am 25. März 2022

Fire & Safety Equipment, Internal Audit, IT Product Management

Dieter Siegel Andreas Zeller Daniel Tomaschko Sebastian Wolf CEO CSO CTO CFO Konzernfunktionen: Konzernfunktionen: Konzernfunktionen: Konzernfunktionen: Corporate Development, Area Management Preventive Fire Protection, Group Controlling, Strategy, NISA und NOMA, Central Technics, Legal, Compliance & Innovation & Marketing, Sales Administration, CoC Operations Insurance, Export Finance,

Human Resources, APAC, CEEU, MENA, Supply Chain Management, Group Accounting and Tax, Group Communication, Customer Service Treasury, Investor Relations,