Cellularline Spa · MIL:CELL
Cellularline Spa — Euronext STAR Conference 2025
31 slides from Cellularline Spa's conference presentation, Mar 27, 2025
Slide 1: Euronext STAR Conference 2025
EURONEXT STAR Conference 2025 27 March 2025
Slide 2: Disclaimer
Disclaimer This document has been prepared for preliminary discussions in relation to Cellularline S.p.A. (the “Company”) and its affiliates (together, the “Group”). This document, the information contained herein and any information provided at any presentation in connection herewith (the “Material
Slide 3: Table of contents
Table of contents 1. Introduction to Cellularline Group 2. Business model 3. Growth opportunities 4. FY 2024 Financial results 3
Slide 4: The European benchmark for the digital devices accessories market
The European benchmark for the digital devices accessories market roup at a glan arl ine G ce llul Ce +30 Years of history Headquarters in Reggio Emilia (Italy) 6 Offices in Europe ey financials FY 2024 K + approx. 300 Employees • Revenues: Euro 164.3 million +60 Countries served ca. 25 mln Products
Slide 5: Always prepared to seize new market opportunities
Always prepared to seize new market opportunities Cellularline development phases Booming Phase International development and Covid Phase Resilience Restart development of the market leadership Steadily growing for the smartphone era Managerial Expansion and listing Development of M&A strategy fourt
Slide 6: 2. Business model
Table of contents 2. Business model 6
Slide 7: The smartphone
The smartphone Camera Social commerce Alarm Mobile Phone Fitness / Wellbeing What What Calculator Has Happened Is Happening SO FAR NOW Newspaper Remote working / Productivity with AI Portable Gaming Device Mobile payments / Services MP3/Music Player Agenda Entertainment 7
Slide 8: Beyond the smartphone: our Purpose, Vision and Mission
Beyond the smartphone: our Purpose, Vision and Mission OUR VISION for END-USERS OUR VISION for TRADE PARTNERS To make the group’s brand the leading To set the benchmark as a partner in name in the accessories for digital the creation of long-term, sustainable devices market, with a reputation for va
Slide 9: A rich product mix to satisfy every user's need
A rich product mix to satisfy every user’s need Product Type Brand Products Protection & Style & Services Charge and utility Voice and music Motorbike & bike Travel adapters 9
Slide 10: Unrivaled brand portfolio for a wide range of targets
Unrivaled brand portfolio for a wide range of targets Offer PREMIUM MAINSTREAM ENTRY LEVEL FINISHED PRODUCT Type ACCESSORY Subordinated to the smartphone market Not subordinated to the smartphone market These accessories satisfy needs that depend The need of these products remains even if upon the u
Slide 11: Leadership in a sizeable EMEA market exceeding €4bln
Leadership in a sizeable EMEA market exceeding €4bln(1) Market leadership Revenues by geography (2) (2) A European leader in the field of accessories for International smartphones and tablets. We are the only company with Italy a significant presence throughout the continent, with an 53,0% absolute
Slide 12: A distinctive and effective business model
A distinctive and effective business model Strategic Efficiency driven internally managed externalized R&D Trade Marketing Logistic & Manufacturing Marketing RGM & Sales Warehousing ▪ Marketing analysis ▪ Sales and operations ▪ Outsourcing strategies ▪ First tier one logistic ▪ R&D activities strate
Slide 13: An integrated process to maximize the customer experience
State-of-the-art trade marketing RTM processes (1): Assortment, Distinctive strategy Distribution, by channel Replenishment and Attachment An integrated process to maximize the customer experience Category Mgmt Pos communication & Strategy impulse material & Store execution development (1)+3.000 PoS
Slide 14: Multi-channel partner and customer proximity to strengthen relationships with users
Multi-channel partner and customer proximity to strengthen relationships with users Geography A long-standing customer relationship Sales channels Consumer Electronics Mass Merchandise Sales Director Italy National Account Manager Direct Sales Telco Travel Retail & other channels Sales Manager Subsi
Slide 15: Aim to be the point of reference in the smartphone accessories market
Aim to be the point of reference in the smartphone accessories market Ownership Brand Product Line (1) Description The Group’s core product line focused on design and Red line marketing a wide range of Cellularline 82,4% of total Revenues branded accessories for brands smartphone. Niche accessories
Slide 16: Committed management team with long experience in FMCG
Committed management team with long experience in FMCG Board Member and CEO General Manager Sales & Marketing & IR Christian Aleotti Marco Cagnetta (in CL from 1991) (in CL from 2004) Co-Founder L'Oréal - Reckitt Benckiser - Nestlé Chief Chief Group Group Corporate Operating HR Legal & Financial Off
Slide 17: 3. Growth opportunities
Table of contents 3. Growth opportunities 17
Slide 18: Growth strategy for success
reinforcelevers: Growth strategic thepartnerships in strategy for success Product Development Significant in-house R&D capability to ensure product innovation from new concept to effective outsourced manufacturing Channels Development International Expansion Expand Travel Retail, Telco and Digital M
Slide 19: Acquisitions are fully aligned with the Group's development strategy
Acquisitions are fully aligned with the Group’s development strategy Levers for value creation 1 Internationalisation 2 Enlarge product portfolio 3 Channel diversification Strengthening E-commerce channel and 4 digital know-how Ready to seize the opportunities offered by 5 the market in channels, ar
Slide 20: ESG Plan: Our commitment for a sustainable future
ESG Plan: Our commitment for a sustainable future Impact profile Statement We do not consider sustainability as a constraint, but rather an 1 Purpose & Governance opportunity to reach our maximum potential. We started our sustainability journey in 2020, on a voluntary basis by publishing our first E
Slide 21: Conclusions: Rationale for investing in Cellularline
Conclusions: Rationale for investing in Cellularline Recognized Leader in the Consumer Electronics Extremely flexible business model in terms of: market: • Products (fully outsourced production) • Characterized by historically proven soundness and stability • Growing presence of consumer electronics
Slide 22: 4. FY 2024 Financial results
Table of contents 4. FY 2024 Financial results 22
Slide 23: Highlights
Highlights ➢ Key economic performance indicators for FY 2024 are as follows: ➢ Revenues are €164,3M (3,5% higher than FY 2023) ➢ Adj. Ebitda is €22,6M or 13,8% of Revenues (€20,7M or 13,1% of Revenues in FY 2023) ➢ Net Result Adj. €8,6M vs. €7,7M of FY 2023, up by €0,9M ➢ Net Debt reduction trend co
Slide 24: Key financials (€M)
Key financials (€M) Revenues EBITDA Adj. 170,0 (€M) 23,0 (€M) 160,0 22,0 150,0 140,0 21,0 130,0 164,3 22,6 158,6 120,0 20,0 20,8 110,0 100,0 19,0 FY 2023 FY 2024 FY 2023 FY 2024 Net Result Adj. Net Financial Position 40,0 (€M) 1,70x (€M) 9,0 8,0 0,97x 7,0 6,0 20,0 35,4 5,0 4,0 8,6 22,0 7,7 3,0 2,0 -
Slide 25: Focus on Revenues
Focus on Revenues (€M) 4,1 1,1 (2,2) 160,0 2,6 Red line 82,3% 140,0 Product Line Black line 120,0 5,1% Blue line 100,0 12,5% 80,0 158,6 164,3 International 53,0% 60,0 Geo 40,0 Italy 20,0 47,0% 0,0 Red Line Red Line Black line Blu line FY 2023 Italy Int. FY 2024 ➢ Revenues increase by €5,6M (+3,5% co
Slide 26: Focus on EBITDA Adj.
Focus on EBITDA Adj. EBITDA Adj. bridge 30,0 25,0 (2,0) 3,9 20,0 15,0 22,6 10,0 20,8 (12,1%) 5,0 0,0 FY 2023 Gross Margin* Op.Ex.* FY 2024 ➢ EBITDA Adj. is + €22,6M in FY 2024 (13,8% on Revenues) vs. €20,8M in FY 2023 (13,1% on Revenues) ➢ Gross margin Adjusted reaches €65,9M vs €62,0M in 2023 ➢ Ope
Slide 27: Focus on Net Result Adj.
Focus on Net Result Adj. 12,0 (€M) 10,0 0,1 0,0 (1,0) 1,9 8,0 6,0 8,6 4,0 7,7 2,0 0,0 Net result adj. Ebitda Adj. D&A Net Financials Taxes Net result adj. FY 2023 FY 2024 ➢ Net Result Adj. € 8,6M in FY 2024 vs € 7,7M in FY 2023, mainly as a consequence of the positive contribution from EBITDA Adj. (
Slide 28: Focus on Net Debt
Focus on Net Debt Net Debt bridge (€M) 40,0 35,0 (2,9) (Lev., (Lev. Ratio:2,3 x) (2,9) (Lev. Ratio:2,4x). 30,0 (0,8) Ratio:2,7x). (Lev. (0,0) Ratio:2,4x). 25,0 (6,8) 45,6 (2,5x) 20,0 (,2,3x) 35,4 15,0 22,0 10,0 5,0 99 - Net debt Financial Liabilities Fair Value Put & Call IFRS 16 Other Cash & Eq. Ne
Slide 29: Summary & Medium-term overview
Summary & Medium-term overview ➢ In 2024, the Group was able to achieve growth by increasing both its customer base and its presence on existing top customers, despite a soft market trend ➢ Fourth consecutive year of growth for Revenues and EBITDA adjusted ➢ Outstanding cash generation: leverage rat
Slide 30: Q&A session
Q&A session 30 cellularline
Slide 31: IR contact
IR contact Marco Cagnetta Board Member and General Manager Sales and Marketing & IR Mauro Borgogno Group Chief Financial Officer e Dirigente Preposto Vincenzo Pacilli IR and M&A Manager ir@cellularlinegroup.com www.cellularlinegroup.com Ph: +39 0522 33 40 02 31