Slide 1: FY 2020 Results
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Slide 2: Foreword
FY 2020 RESULTS Foreword Since Oct. 1st 2019, some contributions to customers (previously included within the financial charges section of the Profit & Loss scheme) were treated as commercial premiums, hence netting revenues. However, for comparative purposes, in some cases, the figures herein prese
Slide 3: Definitions & assumptions
FY 2020 RESULTS Definitions & assumptions In this presentation: • Adjusted stands for “before non recurring items and inputed costs of the stock option plans” • ForEx or FX stand for Foreign Exchange Rates; • “M” stands for million and “bn” stands for billion. • Normalized stands for excluding the c
Slide 4: Contents
CONTENTS • Full year 2020 results
Slide 5: Highlights (12 months normalized)
FY 2020 RESULTS HIGHLIGHTS (12 months normalized) reported Strong trend Favorable in sales growth in in H1,inthanks sales to the year, revenues' growth % +12.4% robust performance sustained by healthyofand Coffee and positive +11.9% Food over trends on the the last coreQcategories Marginexpansion Ma
Slide 6: The Topline
FY 2020 RESULTS THE TOPLINE reported normalized normalized FY 2020 FY 2020 FY 2019 Q4 2020 Q4 2019 (Eur million) Revenues 2,351.3 2,368.1 2,106.1 883.4 802.4 change % 11.9% 12.4% 10.1% organic ch. % 13.8% 14.3% 13.6% In the twelve months of 2020 the normalized revenues grew by 12.4%, expanding by
Slide 7: Revenues by Region
FY 2020 RESULTS REVENUES BY REGION organic organic Normalized figures - EUR million FY 2020 chg. % Q4-2020 chg. % chg. % chg. % South West Europe 967 17.4% 17.2% 353 12.7% 12.5% North East Europe 677 12.6% 16.7% 271 12.0% 19.0% EUROPE 1,644 15.4% 17.0% 623 12.4% 15.3% MEIA (MiddleEast/India/Africa)
Slide 8: Revenues by Market (normalized)
FY 2020 RESULTS REVENUES BY MARKET (normalized) Russia, Ukr. & CIS 7.9% others SW_EU MAIN ORGANIC UPS & DOWNS 10.6% others NE-EU 15.6% Germany, France, UK, Poland, UK UP DOUBLE DIGIT Spain & Portugal, 5.1% Australia & New Zealand, China & HK MEIA France 5.2% 7.2% 12M 2020 UP SINGLE DIGIT US & Canada
Slide 9: Revenues by Product (normalized)
FY 2020 RESULTS REVENUES BY PRODUCT (normalized) MAIN ORGANIC UPS & DOWNS Cooking & Food Prep. 27.6% full-auto machines, manual pump machines, UP DOUBLE DIGIT kitchen machines, air conditioning, vacuum cleaner 12M 2020 UP SINGLE DIGIT Food processor, toaster, single serve systems Coffee Makers 51.7%
Slide 10: Revenues by Product: Coffee Makers
FY 2020 RESULTS REVENUES BY PRODUCT: COFFEE MAKERS (normalized) Others coffee Capsules 2.3% machines 12.5% Pump Machines 6.9% 12M 2020 The coffee sector (52% of revenues) achieved double- FullAuto digit growth in organic terms both in the 12 months 30.0% and in the 4th quarter: o full-auto machines,
Slide 11: Revenues by Product: Food Preparation
FY 2020 RESULTS REVENUES BY PRODUCT: FOOD PREPARATION (normalized) Kitchen Machines 10.3% Hand Blenders 4.8% Others Kitchen appliances 12.5% 12M 2020 The cooking and food preparation segment delivered normalized high single digit growth in both periods analyzed: o outstanding performance of the Kitc
Slide 12: Revenues by Product: Comfort & Home Care
FY 2020 RESULTS REVENUES BY PRODUCT: COMFORT & HOME CARE (normalized) 12M 2020 The segments closed the 12 months in positive territory: o the comfort segment achieved double digit growth Comfort 11.3% rate, thanks to the brilliant performance of air conditioning and products related to air treatment
Slide 13: Margins
FY 2020 RESULTS MARGINS reported normalized normalized FY 2020 FY 2020 FY 2019 Q4 2020 Q4 2019 (Eur million) net ind. margin 1,157.1 1,173.9 995.2 440.8 379.3 % of revenues 49.2% 49.6% 47.3% 49.9% 47.3% adjusted Ebitda 366.5 383.3 300.3 163.3 142.4 % of revenues 15.6% 16.2% 14.3% 18.5% 17.7% Ebit 26
Slide 14: FY 2020 Adjusted EBITDA Bridge (normalized)
FY 2020 RESULTS FY 2020 ADJUSTED EBITDA BRIDGE (normalized) 32.6 14.7 42.1 107.2 among others, increases in A&P and duties on the US market. 383.3 300.3 adj. ebitda FY19 volumes price/mix FX other costs adj. ebitda FY20
Slide 15: Balance Sheet
FY 2020 RESULTS BALANCE SHEET before CB reported reported acquisition EUR million Dec. 31, 2020 Dec. 31, 2019 Change Dec. 31, 2020 Change Net Working Capital 96.2 318.8 -222.6 91.3 -227.5 Net Equity 1,267.4 1,190.5 76.9 1,267.4 76.9 Net debt / (Net cash) 232.0 277.8 -45.8 561.3 283.5 N.W.C. / Revenu
Slide 16: The Net Cash Flow of the Year (reported)
FY 2020 RESULTS THE NET CASH FLOW OF THE YEAR (reported) 13.6 114.5 89.5 The transaction was finalized on Dec. 29, 2020 329.3 352.9 364.3 80.8 277.8 232.0 NFP at Dec. Operating CF CF fromNWC CF from Equity Capex Free Cash Capital Brands Dividends NFP at Dec. 31, 2019 (other) Flow acquisition 31, 202
Slide 17: 2021 Outlook and Guidance
FY 2020 RESULTS 2021 OUTLOOK AND GUIDANCE Massimo Garavaglia, Group C.E.O.: "From the point of view of sales, the start of the year was extraordinarily strong, at a rate of growth, on a like- for-like basis, foreseen for the first quarter at around 50%. This evidence leads us to estimate the organic
Slide 18: Disclaimer
FY 2020 RESULTS APPENDIX Disclaimer This presentation might contain certain forward-looking statements that reflect the company’s current views with respect to future events and financial and operational performance of the company and its subsidiaries. Forward looking statements are based on De' Lon