Comer Industries Spa · MIL:COM
Comer Industries Spa — 5th European MidCap CEO Conference 2022
27 slides from Comer Industries Spa's conference presentation, Nov 17, 2022
Slide 1: Comer Industries - 5th European MidCap CEO Conference
Comer Industries 5 European MidCap CEO Conference th Paris, 17 November 2022
Slide 2: Disclaimer
DISCLAIMER 2 This document has been prepared by Comer Industries S.p.A (“Comer Industries”) for use during meetings with investors and financial analysts and is solely for information purposes. The information set out herein has not been verified by an independent audit company. Neither the Company
Slide 3: Who We Are
WHO WE ARE 1 Global supplier of engineered transmission system for major vehicle manufacturers in the global agriculture, industrial and energy sectors. 2 for specialty machinery. Focus on end-markets with constant growth in global demand 3 offering and innovation oriented. Solid and flexible busine
Slide 4: Timeline Comer Industries & WPG
TIMELINE COMER INDUSTRIES & WPG 2017 2020 2007 2015 Generational Opening of Comer Our Re-building of the transition fully commitment to Industries Reggiolo Plant and completed: Components in sustainability. opening of Comer new Matera and Industries India. 1985 1996 Comer Industries governance in Op
Slide 5: Pro-forma FY2021 Consolidated Revenues
TOGLIERE PRO-FORMA (*) Pro-forma FY2021 Consolidated Revenues - unaudited Comer Industries property 5
Slide 6: Global Operations Footprint Combined 16 Plants
GLOBAL OPERATIONS FOOTPRINT COMBINED 16 PLANTS GERMANY Lohmar JAPAN Sohland Koga | Ibaraki-Ken USA CHINA Charlotte | North Carolina Pinghu | Zhejiang Woodridge | Illinois Taicang | Suzhou Rockford | Illinois ITALY Reggiolo (RE) | R&D CENTER BRAZIL Reggiolo (RE) | Assembly Plant INDIA Limeira | San P
Slide 7: More than 3,500 employees in 3 different continents
MORE THAN 3,500 EMPLOYEES IN 3 DIFFERENT CONTINENTS. AMERICA 13%. EUROPE 74%. ASIA 13%. % on total employees Comer Industries property 7
Slide 8: Executive Team
EXECUTIVE TEAM MATTEO STORCHI CEO S. PALMIERI R. BENEDUSI A. DI MATTEO A. MASUCCI CHIEF FINANCIAL GLOBAL BRAND & INTEGRATION GLOBAL QUALITY SUSTAINABILITY GLOBAL HR & ORGANIZATION OFFICER DIRECTOR & LEAN DEVELOPMENT DIRECTOR DIRECTOR M. ZORZI R. MASCII G. ZELANO W. LEMSER VP SALES & MARKETING VP RES
Slide 9: Sustainability Commitment
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Slide 10: Our Commitment to Sustainability
OUR COMMITMENT TO SUSTAINABILITY SUSTAINABILITY IS A KEY In 2021, Comer Industries consolidates its commitment to sustainability and joins to the United Nations Global FACTOR TO CREATE Compact, the largest global initiative for sustainable LONG-TERM VALUE AND IS development, based on respect for ten
Slide 11: The Roadmap
THE ROADMAP LAUNCH OF PROJECTS THE PROGRAM OF SUSTAINABILITY & INITIATIVES DEVELOPMENT 2019 2020 2021 2022 2023 FIRST STARTED PROCESS SUSTAINABILITY FOR REPORTING REPORT CONSOLIDATION REPORTING IN ACCORDANCE WITH D.LGS 254/2016 WITH WALTERSCHEID POWERTRAIN GROUP FIRST FIRST SUSTAINABILITY SUSTAINABI
Slide 12: Our Bright Impact
OUR BRIGHT IMPACT IN 2020 COMER INDUSTRIES HAS LAUNCHED A NEW PROJECT: OUR BRIGHT IMPACT An important responsibility towards the environment and the society. The courage to take on a strong commitment, starting from adherence to the Global Goals for the sustainable development. The ambition to leave
Slide 13: Business Model and Key Success Factors
BUSINESS MODEL AND KEY SUCCESS FACTORS
Slide 14: Drivers & Megatrends Off Highway
DRIVERS & MEGATRENDS MEGA TRENDS CLIMATE CHANGE HEALTHCARE DEMOGRAPHY URBANISATION SUSTAINABILITY DIGITIZATION GREEN HOUSE EMISSIONS GROWING POPULATION GROWING NUMBER CONGESTION CONNECTED GAS REDUCTION REDUCTION AGING SOCIETIES OF MEGA-PROJECT INFRASTRUCTURES WORLD CONSEQUENCES OFF HIGHWAY RENEWABLE
Slide 15: Strategic Pillars
STRATEGIC PILLARS Competitive Organic and Inorganic business growth. Sustainable, digital enhanced technology Glocal industrial footprint optimization. development. Agile aftermarket, distribution and services. Synergistic post merge integration. LEVERAGE ON STRONG BALANCE SHEET, PRODUCT QUALITY AND
Slide 16: Current Addressable Market
CURRENT ADDRESSABLE MARKET “FEEDING THE WORLD” “MASSIVE URBANIZATION” According to researches, Growth in population to agricultural outputs need to reach 9,1 billion by 2050, grow by 70% by the coupled with migration middle of century. from rural areas. 3 €B * 5 €B * 0,5€B * “BUY” RATHER “TECHNOLOGI
Slide 17: Our Products & Services
OUR PRODUCTS & SERVICES PRODUCTS AFTERMARKET & SERVICES GEARBOXES AXLES & AXLE SHAFTS AFTERMARKET PARTS DISTRIBUTION Sale of spare parts to more than 130 distribution partners around the globe PTO SHAFTS & CLUTCHES TRACTOR ATTACHMENT SYSTEMS (TAS) VALUE ADDED SERVICES - Repair, exchange, modificatio
Slide 18: Strategically Transformational
STRATEGICALLY TRANSFORMATIONAL Transformational industrial combination creating a world industry leader and consolidator in the mechanical components for the off-highway industry. Enhanced geographical reach globally underpinned by complementary products offering. Indisputable global leader in appli
Slide 19: 9M YTD 2022 Key Financial Indicators
9M YTD 2022 KEY FINANCIAL INDICATORS
Slide 20: 9M YTD 2022 - Consolidated Revenues
9M YTD 2022 - KEY FINANCIAL INDICATORS 20 CONSOLIDATED REVENUES Y/Y (€m) 782,2(*) +155,9 938,1 Consolidated Net Revenues €938,1m (*) 453,5 +20% in 9M YTD 2022 vs 2021 368,7 Both Comer and Walterscheid recorded a solid top line growth in the period 484,6 413,5 Performance was driven by the agricu
Slide 21: 9M YTD 2022 - Revenues & EBITDA Margin
9M YTD 2022 - KEY FINANCIAL INDICATORS 21 REVENUES (€m) & EBITDA MARGIN (%) 14,3% 13,7% 12,8% Consolidated Net Revenues €938,1m EBITDA ADJ. €128m in 9M YTD 2022 EBITDA MARGIN 13,6% 311,5 322,2 304,4 Ongoing improvement in EBITDA margin throughout the year Q1 2022 Q2 2022 Q3 2022 (*) EBITDA Adjuste
Slide 22: 9M YTD 2022 - Consolidated Revenues Growth
9M YTD 2022 – KEY FINANCIAL INDICATORS 22 CONSOLIDATED REVENUES (€m) 9M 2022 vs 9M 2021 +20% + 22% H1 2022 vs H1 2021 +19% 55,3 + 17% Growth strategy confirmed 46,6 155,9 + 21% Solid & steady growth in the quarters, despite challenge economic environment 54,0 Growth Growth Growth Growth Q1 2022 Q2
Slide 23: 9M YTD 2022 - Net Financial Position
9M YTD 2022 - KEY FINANCIAL INDICATORS 23 (*) NET FINANCIAL POSITION ADJ. (€ m) 31 Dec. 2021 Variation 30 Sep. 2022 -119,0 NFP Adj. €119,0m as at 30 Sep. 2022 -120,7 In line with FY 2021, notwithstanding the solid top line growth -1,7 (*) Net of IFRS 16 impact Comer Industries Proprietary & Confid
Slide 24: 2021 Results
2021 RESULTS
Slide 25: 2021 Proforma Results
2021 PROFORMA RESULTS (mln. euros) 12/31/2021 REVENUE FROM SALES 1,048.5 Adjusted EBITDA 128.2 % on sales 12.2% EBITDA 131.0 • Proforma Net revenues at €1,05 billion % on sales 12.5% • Adj. EBITDA €128,2m, 12,2% on sales Amortization and Depreciation (44.1) EBIT 87.0 • EBIT 87,0m, 8,3% on sales % on
Slide 26: 2018-2021 Historical Results
2018-2021 HISTORICAL RESULTS EBITDA Adjusted % (*) NET REVENUES (€m) & EBITDA Adjusted % Net revenues 12,6% 12,6% 2018-’21 Net revenues CAGR: +16% WPG revenues 11,1% 10,2% 2021 net revenues without WPG +7% +51% contribution (1 month) 563,4 mln (+42,2%) -2% 34,7 mln (*) EBITDA Adjusted excludes the
Slide 27: Thanks for your attention
THANKS FOR YOUR ATTENTION comer industries | walterscheid THE UNCONVENTIONAL MAKERS
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