Carel Industries Spa · MIL:CRL
Carel Industries Spa — 9M 2018 Earnings Presentation
10 slides from Carel Industries Spa's earnings presentation, Nov 13, 2018
Slide 1: 9M Results 2018
CAREL INDUSTRIES S.p.A. 9M Results 2018 13th November 2018 This document and all of its contents are property of CAREL. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than CAREL, is severely forbidden.
Slide 2: 9M 2018 - Overview
9M 2018 - Overview The positive trend in revenue, already reported in the 1H 2018, is substantially confirmed also in the first nine months of the year: +8.4% (+10.7% net of FX impact). The same positive trend is confirmed also for profitability: EBITDA Margin adj. equal to 20.9% leading to 9.4% gro
Slide 3: 9M 2018 – Significant growth in all the adj. operating KPIs confirmed
9M 2018 – Significant growth in all the adj. operating KPIs confirmed KPIs EBITDA Bridge (m€) m€ 9M 2017 9M 2018 Δ% Revenue 192.2 208.4 8.4% 4.1 0.5 43.6 Revenue FX Adj. (1) 192.2 212.8 10.7% 39.9 (0.9) 38.3 EBITDA 39.9 38.3 -4.1% (5.3) (2) EBITDA Adj. 39.9 43.6 9.4% EBITDA adj./Revenue 20.8% 20.9%
Slide 4: 9M 2018 – Revenue breakdowns
9M 2018 – Revenue breakdowns Breakdown by region Breakdown by sector Other South APAC 2% 4% North APAC 11% Western Europe HVAC 52% 61% South America 3% 208.4 208.4 M€ North America M€ Refrig. 13% m€ m€ 37% m€ m€ Area 9M 2018 9M 2017 Δ% Δ% fx Western Europe 108.1 96.7 11.7% 11.8% Sector 9M 2018 9M 20
Slide 5: From EBITDA to Net Profit
From EBITDA to Net Profit K€ 9M '17 9M '18 Δ% • Higher D&A mainly linked to the EBITDA 39,893 38,275 -4.1% Carel’s footprint expansion D&A/Impairment -5,896 -6,409 project (Croatia, Italy, US) EBIT 33,997 31,867 -6.3% Financial (charges)/income 438 107 • Financial income affected by the FX gains/los
Slide 6: 9M 2018 – (NFP)/Cash Bridge
9M 2018 – (NFP)/Cash Bridge +5.2m€ 7.6 24.8 (15.4) 40.2 (11.8) 14.9 (30.0) (0.5) m€ (NFP)/Cash Net Profit D&A and NWC CAPEX Dividends Other (NFP)/Cash FY 2017 Provisions 9M 2018 • Positive FCF generation (+5.2m€): FFO equal to ~32.4m€ thanks to very positive operating results. • NWC +15.4m€ due to h
Slide 7: Closing Remarks
Closing Remarks Confirming its High leading role in Strong growth Footprint profitability Europe and in the expansion linked to expanding its Refrigeration plan on track improved positioning in sector efficiency the RoW We confirm our expectations for full year 2018, in terms of growth in revenues,
Slide 8: Annexes
Annexes
Slide 9: Shareholding structure
Shareholding structure CAREL Industries S.p.A. Share capital Other Luigi Rossi Shareholders; Luciani 32,23% S.a.p.a; 36,17% Capital Research and Management Company; 8,02% Luigi Nalini S.a.p.a; 23,58% 9 9 This document and all of its contents are property of CAREL. All unauthorised use, reproduction
Slide 10: Income statement and Balance Sheet
Income statement and Balance Sheet Income statement Balance sheet K€ 9M_2017 9M_2018 Var. % K€ FY_2017 9M_2018 Var. % Revenues 192,187 208,401 8.4% Fixed Assets 37,411 42,483 13.6% Other revenues 957 1,125 17.6% Working Capital 46,353 59,884 29.2% Operative costs (153,251) (171,251) 11.7% Employees