Slide 1: Investor Presentation 1st Quarter 2020 results
Investor Presentation 1st Quarter 2020 results
Slide 2: Cembre at a Glance
Investor Presentation Cembre at a Glance Cembre is Europe’s leading manufacturer of electrical crimp type connectors and related installation tools; The Group has grown its revenues by a CAGR of 5.2% in the last 19 years (2001-2019), from €56 mn in 2001 to €146.3 mn in 2019; It is a dividend-payer w
Slide 3: Contents
Investor Presentation Contents Management Team Business overview 1st Quarter 2020 results 1st Quarter 2020 Guidance Stock data & shareholding structure Contact 3
Slide 4: Management team
Investor Presentation Management team Giovanni Rosani Chief Executive Officer (CEO) OUR MISSION Cembre cooperates with the users of its products to find Aldo Bottini Bongrani the best technical and Member of the Board economical solutions related to electrical connection M&A and Special Projects Man
Slide 5: Group Structure
Investor Presentation Group Structure 489 S.p.A 100% 100% 100% 100% 100% Cembre Cembre Ltd. Cembre Sarl Cembre GmbH Cembre Inc. España SLU Great Britain France Germany USA Spain 103 29 43 22 35 IKUMA IKUMA KG Verwaltungs GmbH Germany Manufacturing and trading unit 100% 100% Germany Trading unit Non
Slide 6: Human resources
Investor Presentation Human resources The Group employs 752 employees worldwide. R&D Production Marketing/Sales/Distribution Administration/Services 21 430 227 74 Cembre has extensive know-how Sharp focus on customer needs in its operating field, and its strong and the efficient international R&D te
Slide 7: Business Overview
Investor Presentation Business Overview Cembre is Europe’s leading manufacturer of electrical crimp type connectors and related installation tools. Electrical Tools Railway Identification Cable Glands, Connectors Products Systems Accessories and other 7
Slide 8: Made in Brescia…
Investor Presentation Made in Brescia… Cembre, established in 1969, manufactures its products in its state-of- art production facility located in Brescia. The facility covers an area of 60,000 m2 on a total land area of 121,000 m2. In December 2011 Cembre purchased a 13,500 m2 industrial area next t
Slide 9: … and U.K.
Investor Presentation … and U.K. In addition, Cembre has a production facility in the UK which operates on a 8,800 m2 land. This plant in Birmingham manufactures mainly for the local market. The sales generated in the UK are 14% of the consolidated turnover of the 1st Quarter of 2020. Cembre Ltd. Fa
Slide 10: Very Strong in Europe…
Investor Presentation Very Strong in Europe… Cembre is present all over the Italian territory through a network of salesmen and representatives who are able to offer fast and constant technical assistance. Abroad, it operates through 5 subsidiaries in Europe (UK, France, Spain, 2 in Germany) and 1 i
Slide 11: Present All Around the World…
Investor Presentation Present All Around the World… Cembre has a network of importers and agents who provide technical and commercial assistance and rapid delivery all around the world… 11
Slide 12: Revenues breakdown by Product Family
Investor Presentation Revenues* breakdown by Product Family (€ ‘000) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Electrical Tools Railway Marking Cable Others Total connectors Products Systems Glands *Customers’ bonuses not deducted st 1 Quarter 15.972 5.946 5.952 6.855 3.213 1.302 39.240 2020 40,7%
Slide 13: Geographical Revenue Breakdown
Investor Presentation Geographical Revenue Breakdown Italy 1st Quarter 1st Quarter Δ 2020 2019 Sales 14.3 mn 15.3 mn -6.5% % in total 39.3% 40.0% -0.7 pp Europe (ex-IT) 1st Quarter 1st Quarter Δ 2020 2019 Sales 17.4 mn 17.9 mn -2.9% % in total 47.8% 46.7% 1.1 pp Rest of the World 1st Quarter 1st Qua
Slide 14: 19-Year Revenue Evolution
Investor Presentation 19-Year Revenue Evolution € Millions Global 160 Economic Crisis 144,1 146,3 140 132,6 121,4 122,6 120 112,9 103,0 103,9 104,5 100 93,4 94,3 93,9 84,1 80 76,0 70,0 65,1 59,9 60 56,0 56,9 40 20 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Slide 15: A Wide Product-Mix
Investor Presentation A Wide Product-Mix In order to maintain its leading position and increase the penetration of market, Cembre had sensibly enlarged the range of products offered through: •Research activities mainly focused on the development of innovative products for the sectors with the highes
Slide 16: Electrical Connectors: 4.4% decrease in Sales
Investor Presentation Electrical Connectors: 4.4% decrease in Sales Electrical Connectors: 1st Quarter 2020 1st Quarter 2019 Δ Total Sales 16.0 € mn 16.7 € mn -4.4% Sales in Italy (% share) 7.5 € mn (19.2%) 7.8 € mn (18.8%) -4.1% Sales in Europe ex-IT (% share) 7.5 € mn (19.2%) 7.8 € mn (18.6%) -3.0
Slide 17: Tools: 2.6% decrease in Sales
Investor Presentation Tools: 2.6% decrease in Sales Tools: 1st Quarter 2020 1st Quarter 2019 Δ Total Sales 5.9 € mn 6.1 € mn -2.6% Sales in Italy (% share) 1.6 € mn (4.1%) 1.6 € mn (3.9%) -0.6% Sales in Europe ex-IT (% share) 3.0 € mn (7.7%) 3.0 € mn (7.3%) -1.1% Sales in RoW (% share) 1.3 € mn (3.4
Slide 18: Railway Products: 10.1% decrease in Sales
Investor Presentation Railway Products: 10.1% decrease in Sales Railway Products: 1st Quarter 2020 1st Quarter 2019 Δ Total Sales 6.0 € mn 6.6 € mn -10.1% Sales in Italy (% share) 0.3 € mn (0.7%) 0.6 € mn (1.5%) -54.9% Sales in Europe ex-IT (% share) 4.0 € mn (10.1%) 4.0 € mn (9.7%) -1.7% Sales in R
Slide 19: Cable Markers: 10.6% decrease in Sales
Investor Presentation Cable Markers: 10.6% decrease in Sales Cable Markers: 1st Quarter 2020 1st Quarter 2019 Δ Total Sales 6.9 € mn 7.7 € mn -10.6% Sales in Italy (% share) 4.2 € mn (10.6%) 4.7 € mn (11.4%) -12.5% Sales in Europe ex-IT (% share) 2.2 € mn (5.7%) 2.5 € mn (5.9%) -10.0% Sales in RoW (
Slide 20: Cable Glands: 0.2% increase in Sales
Investor Presentation Cable Glands: 0.2% increase in Sales Cable Glands: 1st Quarter 2020 1st Quarter 2019 Δ Total Sales 3.2 € mn 3.2 € mn 0.2% Sales in Italy (% share) 2.7 € mn (6.9%) 2.7 € mn (6.5%) -0.5% Sales in Europe ex-IT (% share) 0.4 € mn (1.1%) 0.4 € mn (1.0%) 5.2% Sales in RoW (% share) 0
Slide 21: 1st Quarter 2020 Consolidated Results
Investor Presentation 1st Quarter 2020 Consolidated Results Euro Millions 1st Quarter 1st Quarter Changes 1st Quarter 2020 2019 % 2018 Sales 36.5 38.4 -5.1% 36.0 EBITDA 9.9 10.5 -5.9% 10.0 In % of sales 27.1% 27.3% 27.9% EBIT 7.2 8.1 -11.6% 8.4 In % of sales 19.7% 21.2% 23.3% EBT 7.2 8.2 -11.6% 8.3
Slide 22: Patent Box Fiscal Benefit
Investor Presentation Patent Box Fiscal Benefit The Parent Company Cembre S.p.A. in December 2017 signed, with the support of Business Tax and Consulting firm Deloitte, an agreement with the Italian Revenue Office defining the calculation methods and criteria for the economic contribution to busines
Slide 23: 1st Quarter 2020 Group's Companies Turnover
Investor Presentation 1st Quarter 2020 Group’s Companies Turnover* Company 1st Quarter 1st Quarter Changes 1st Quarter (Euro thousands) 2020 2019 % 2018 Cembre S.p.A. (Italy) 18,464 19,594 -5.8% 20,245 Cembre Ltd. (UK) 4,976 5,682 -12.4% 4,759 Cembre S.a.r.l. (France) 2,405 2,780 -13.5% 2,702 Cembre
Slide 24: March 31, 2020 Consolidated Balance Sheet
Investor Presentation March 31, 2020 Consolidated Balance Sheet Euro Millions Mar. 31, 2020 Dec. 31, 2019 Mar. 31, 2019 a Net operating working capital 60.7 54.4 59.4 % of sales 45.4% 37.2% 38.7% b Net fixed assets 105.3 106 103.5 c Assets available for sales - - - d Employees’ severance indemnities
Slide 25: Cembre's Revenue and Profitability Trend
Investor Presentation Cembre’s Revenue and Profitability Trend (€ ‘000) 160.000 146.296 144.096 140.000 132.637 122.605 121.377 120.000 112.905 103.028 103.899 104.547 100.000 93.417 94.288 93.934 84.127 75.984 80.000 69.997 Revenues 65.149 56.003 56.946 59.870 60.000 40.000 20.000 0 2001 2002 2003
Slide 26: Cembre's Revenue and Profitability Trend
Investor Presentation Cembre’s Revenue and Profitability Trend (€ ‘000) 30.000 65,0% 28.496 27.181 27.036 60,0% 25.000 24.095 55,0% 22.836 50,0% 20.000 18.420 19.433 45,0% 17.379 15.941 16.221 17.291 16.456 40,0% Ebit 15.838 35,0% 15.000 30,0% 11.023 10.581 25,0% 10.000 6.932 7.656 20,0% 6.271 6.364
Slide 27: Index analysis
Investor Presentation Index analysis ROI (EBIT/Investments) ROACE (EBIT/Net Capital Employed) 25,00% 35,00% 29,45% 30,00% 19,67% 29,05% 20,00% 24,34% 16,60% 16,57% 16,18% 25,00% 23,13% 19,06% 15,59% 23,39% 21,49% 22,05% 15,11% 15,09% 21,23% 20,61% 22,23% 15,00% 20,00% 14,15% 14,65% 14,88% 16,85% 17,
Slide 28: Investments trend
Investor Presentation Investments trend 20.000 18.000 16.000 14.000 12.000 10.000 8.000 6.000 4.000 2.000 0 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 Investments in tangible assets Investments in intangible assets Total investments € ‘000 2005 2006 2007 2008 2009 201
Slide 29: 2020 and onwards…
Investor Presentation 2020 and onwards… Cembre focused on these targets: Business development thanks to: •A strengthening of Cembre competitive advantage by developing new products and continuous product range renewing by an intense R&D activity, •A new product line for plumbing sector; •An higher p
Slide 30: 2020 and onwards…
Investor Presentation 2020 and onwards… The automated warehouse, located in a 4,800 m2 industrial building built in 2012, has been operating from January, 2013. This warehouse is 3 time more efficient, and has a 50% increase in end-product capacity warehousing. In 2018, a new 9,600 m2 industrial bui
Slide 31: 2020 and onwards…
Investor Presentation 2020 and onwards… •On May 3rd, 2018 wholly-owned German subsidiary Cembre GmbH acquired the entire capital stock of German company Ikuma GmbH & Co. KG (“Ikuma KG”). Cembre GmbH also acquired the entire capital stock of Ikuma Verwaltungs GmbH, a company whose only activity is to
Slide 32: Stock Data & Shareholding Structure
Investor Presentation Stock Data & Shareholding Structure Cembre FTSE Italia Star Shareholders: Share: data updated at May 18, 2020 LYSNE Spa 52.39% Sara Rosani 8.65% Giovanni Rosani 8.53% Anna Maria Onofri 0.71% Massachusetts Financial Services 5.02% Altri 24.70% Cembre has been listed since Decemb
Slide 33: Share price evolution
Investor presentation Share price evolution 30 Share price Share return 28 Total return 26 2001-2020 24 22 +11.1% 20 CAGR 18 16 14 Performance 12 2001-2020 10 8 +9.1% CAGR 6 4 Total Return is the average ‘Share return’ 2 growth in the period 0 Performance is the average ‘Share price’ growth in the p
Slide 34: Contact
Contact Claudio Bornati CFO and IR Via Serenissima 9, 25135 Brescia (BS) Italy Phone: ++39 030 36921 Email: claudio.bornati@cembre.com The manager responsible for preparing the Company’s financial reports, Claudio Bornati, declares, pursuant to paragraph 2 of Article 154 bis of Company Webpage: the