Cir S.p.a. - Compagnie Industriali Riunite · MIL:CIR
Cir S.p.a. - Compagnie Industriali Riunite — CIR S.p.A. - Compagnie Industriali Riunite — FY2022 Earnings Presentation
18 slides from Cir S.p.a. - Compagnie Industriali Riunite's earnings presentation, Mar 13, 2023
Slide 1: CIR 2022 Results
CIR 2022 Results 13 March 2023
Slide 2: Executive Summary
Group Group Executive Consolidated KOS and Sogefi ESG Summary Results strategy 2
Slide 3: Group structure and strategy
Group structure and strategy 59.8% F.lli De 37.0%* 56.6% Benedetti S.p.A. Non core & liquid assets Businesses Healthcare group specialized in Global automotive supplier of Liquid assets, Private Equity Long Term Care (“LTC”: Nursing suspensions, filtration, air Portfolio, Non Core Participations Hom
Slide 4: 2022 Highlights
2022 Highlights On Sept 12, 2022, the meeting of shareholders of CIR S.p.A. approved the following resolutions, aimed at restoring the holding company’s flexibility to make future buyback / dividend distributions (although no proposal has been made on future distributions at present) • Cancellatio
Slide 5: Group Consolidated Results
Group Group Executive Consolidated KOS and Sogefi ESG Summary Results strategy 5
Slide 6: Consolidated P&L main elements
Consolidated P&L main elements 2021 2022 Revenues €/M 2021 2022 % 22/21 KOS - Italy 462.4 492.2 6.4% Revenues 1,962.5 2,235.6 KOS - Germany 179.4 191.3 6.6% KOS - total 641.9 683.5 6.5% % change vs 2021 13.9% SOGEFI 1,320.6 1,552.1 17.5% EBITDA 300.7 295.7 GROUP revenues 1,962.5 2,235.6 13.9% % on r
Slide 7: Group Financial Indebtedness
Group Financial Indebtedness Excluding IFRS16 €/M 31 Dec. 2021 31 Dec. 2022 KOS: higher net debt, due to expansion capex/M&A Sogefi: debt reduction thanks to operating cash generation KOS Group (160.2) (178.2) Sogefi Group (258.2) (224.3) Subsidiaries (418.4) (402.5) CIR holding & I/C 332.8 320.
Slide 8: CIR Holding Balance Sheet main elements
CIR Holding Balance Sheet main elements 31 Dec. 2021 31 Dec. 2022 Non-core investments €/M 31 Dec. Cash Fair value / 31 Dec. KOS 203.1 203.1 €/M 2021 New In other 2022 Sogefi 108.2 132.5 Private Equity 60.0 11.7 (12.5) 0.3 59.5 Total operating companies 311.3 335.6 Other investments 19.4 0.3 (0.3) (
Slide 9: KOS and Sogefi
Group Group Executive Consolidated KOS and Sogefi ESG Summary Results strategy 9
Slide 10: KOS - a leader in LTC with a consistent growth track record
KOS - a leader in LTC with a consistent growth track record Greenfield // Number of beds pipeline: Rehabilitation +730 & psychiatry (Italy) 13.518 36 facilities 13.151 12.686 N. 1 in 12.133 Italian LTC 4,423 SHAREHOLDERS Long 4,051 Nursing 4,046 CIR (59.77%) 3,844 F2i (40.23%) Term Homes (Italy)
Slide 11: KOS - Summary of 2022 results and outlook
KOS - Summary of 2022 results and outlook €/M 2019 * 2021 2022 KOS 2022 results Revenues 517.1 641.9 683.5 Disposal of Indian diagnostics and cancer care business expected in 2023 (IFRS5) LTC / Acute Italy vs 2019 -4.2% 0.6% Overall revenues increase by +6,5% vs 2021 EBITDA 119.0 117.5 121.4 L
Slide 12: KOS – Revenues and KPIs by segment
KOS – Revenues and KPIs by segment LTC Italy NH Rehab Acute Care NH Germany 2019 2021 2022 2019 2021 2022 2019 2021 2022 2019 2021 2022 Numer of beds 5,574 6,200 6,195 2,231 2,777 2,777 123 123 123 3,844 4,051 4,423 % change vs 19 11.2% 11.1% 24.5% 24.5% 5.4% 15.1% Occupancy - average 95.6% 70.2% 80
Slide 13: KOS – P&L by segment
KOS – P&L by segment Margins of LTC / Acute Care Italy still heavily affected in 2022 by below capacity utilisation, inflationary effects on energy and catering and rising labour costs, only marginally compensated by tariff increases so far In Germany profitability deterioration due to ramp up o
Slide 14: Sogefi – Summary of 2022 results and outlook
Sogefi – Summary of 2022 results and outlook €/M 2021 2022 2022 highlights Car production still below 2019 (-23%), but sign of recovery in 2022, Revenues 1,320.6 1,552.1 +6,2% vs 2021, with Europe at +5,7%, NAFTA +9,8% and China +6,1% EBITDA 192.5 194.7 Sogefi’s sales grew by 17,5%: c.+4% volume
Slide 15: Sogefi – Performance by division
Sogefi – Performance by division Suspension Filtration Air&Cooling Group [reported] 2019 2021 2022 2019 2021 2022 2019 2021 2022 2019 2021 2022 Net sales 549.7 458.2 556.7 467.1 463.4 535.7 425.9 402.0 464.0 1,439.4 1,320.6 1,552.1 % change vs 21 21.5% 15.6% 15.4% 17.5% % change vs 19 1.3% 14.7% 8.9
Slide 16: ESG
Group Group Executive Consolidated KOS and Sogefi ESG Summary Results strategy 16
Slide 17: ESG plans and performance
ESG plans and performance CIR, KOS and Sogefi ESG Plan - contributing to the UN 2030 Agenda - designed along four pillars (Corporate Governance, ESG-driven Innovation & Care Quality, Eco-Efficiency and People&Community), setting specific objectives for each activity Strategic Corporate Governance
Slide 18: Disclaimer
Disclaimer This document has been prepared by CIR for information purposes only and for use in presentations of the Group’s results and strategies For further details on CIR and its Group, reference should be made to publicly available information, including the Annual and the Semi- Annual Repor
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