Sesa S.p.a. · MIL:SES
Sesa — STAR Conference 2017
22 slides from Sesa's conference presentation, Mar 21, 2017
Slide 1: Group Presentation
Group Presentation STAR CONFERENCE Milan, March 21st - 22nd, 2017
Slide 2: Index
Index Milan, March 21st - 22nd, 2017 Alessandro Fabbroni, SeSa Chief Executive Officer Conxi Palmero, SeSa IR Manager Group Structure and Business Model slide 3-10 Group Economic and Financial Results as of Jan 31, 2017 (9M 2017) slide 11-14 Economics and Financials Annual Track Record 201
Slide 3: SeSa Group Organization
SeSa Group Organization SeSa Group is the leading Italian distributor of Information Technology (“IT”) value-added products and solutions with total consolidated revenues equal to Eu 1,230 Mn (Fiscal Year as of April 30, 2016) and over 1,300 employees. Group’s organization consists of 3 divisions:
Slide 4: Business Model
Business Model Strategic partner of Global IT Vendors (“IT Titans”) for the Italian market (Cisco, DellEMC, HP, HPE, IBM, Lenovo, Lexmark, Microsoft, Oracle), focusing on value-added segments: Software Enterprise Networking Server, Storage IT Services Datacenter & Cloud Continuous grow
Slide 5: Partner of Global IT Vendors
Partner of Global IT Vendors SeSa Group main subsidiary (CGI) is the leading Italian IT Value Added distributor with a market share equal to 43% (source Sirmi, January 2017) thanks to the long term partnerships with the IT Global Vendors (IT Titans*) Long-term partnerships with IT Titans* and ot
Slide 6: Competitive advantages
Competitive advantages Long-term relationship CGI is the Italian main partner of several IT Global Vendors, with IT “Titans” and the customizing IT solutions globally designed by IT Vendors for the major global Vendors Italian Enterprises and SMEs To operate as major partner of the IT Vendors requir
Slide 7: IT Market
IT Market Italian IT market grew by 0.7% in 2016, after the decrease by 2.3% in 2015. 2017 expected growth equal to 0.9% (source: Sirmi , Jan 2017) Total market value equal to Eu 18.3 billion in 2016 with significant (30% of total demand) SME and Enterprise segments contribution Italian IT Marke
Slide 8: Continuous growth since 90s
Continuous growth since 90s 10.5% Revenue CAGR* over 2011-16 period, mainly organic thanks to new distribution agreements 4.9% Revenue* growth in the 9M as of January 31, 2017 1400 Continuous growth since ’90s over-performing the reference market 1,288(E) 1,230 1200 1,060 1000 948 812 832 800
Slide 9: Leadership in Italian VAD
Leadership in Italian VAD CGI is leader on the Italian value- Italian value-added IT distribution market added IT distribution market, with a 43% market share in 2016 (source Sirmi, Jan 2017) 43% CGI is the largest Italian distributor in the high value-added segments 43.7% (Storage, Software Ent
Slide 10: VAR focusing on the Italian Enterprises
VAR focusing on the Italian Enterprises VAR Group is a leading System Integrator on the Italian Enterprise and SME segments (SMEs and Enterprises represent about 32% of BUSINESS • Technology Hardware and total Italian IT market, Eu 5.9 Bn in 2016 – source Sirmi, Jan 2017) TECHNOLOGY Software Integ
Slide 11: Group Economic Results: 9M 2017 vs 9M 2016
Group Economic Results: 9M 2017 vs 9M 2016 Revenues* (Eu Mn) Ebitda (Eu Mn, % on revenues) +4.9% +7.1% 4.45% 4.35% Ebit (Eu Mn, % on revenues) Net profit** (Eu Mn, % on revenues) +4.5% +9.6% 3.55% 2.15% 3.57% 2.06% (*) Sales and other revenues as of January 31 (9M of the 12 months fiscal year ending
Slide 12: Segment Reporting: 9M 2017 vs 9M 2016
Segment Reporting: 9M 2017 vs 9M 2016 Group's segment Nine-month period May 16 - Jan 17 Nine-month period May 15 - Jan 16 9M 2017 / 9M 2016 change % information Eu Mn VAD VAR Corporate Consolidated VAD VAR Corporate Consolidated VAD VAR Corporate Consolidated Revenues and Other 826.5 173.2 10.9 945.
Slide 13: Group Financial Results: 9M 2017 vs 9M 2016
Group Financial Results: 9M 2017 vs 9M 2016 Group Shareholders Net Financial Position (NFP) Equity* (Eu Mn) (Eu Mn) Up by 11.0% Improvement by 18.3% Consolidated Group Equity at January 31, 2017 equal to Eu 192.8 Mn, compared to Eu 173.8 Mn at January 31, 2016 and Eu 179.4 Mn at April 30, 2016 C
Slide 14: Group Economic Results FY 2011-2017E
Group Economic Results FY 2011-2017E Revenues** (Eu Mn) Ebitda (Eu Mn, % on revenues) 1450 65 1,288 (E) 56.8 (E) 1,230 1250 +4.7% yoy 55 51.6 52.4 1,060 49.5* 4.4% +8.4% yoy 4.9% 4.3% 1050 948* 44.2 5.2% 832 45 41.3 850 747 812 5.3% 34.4 5.1% 35 650 4.6% 25 450 250 15 50 5 30 Apr 30 Apr 30 Apr 30 Ap
Slide 15: Working Capital & Net Financial Position Trend
Working Capital & Net Financial Position Trend Annual average NWC days Annual average NWC to Revenues 50 12.5% 46 45 12% 12.2% 41 40 9.8% 9.8% 36 35 10% 35 30 8% 25 6% 20 15 4% 10 2% 5 0 0% 2014 2015 2016 2017 * 2014 2015 2016 2017 * Annual avg Net Fin. Position (Eu Mn) Annual average NFP to Equity
Slide 16: Group Financial Results FY 2011-2017E
Group Financial Results FY 2011-2017E 255 Group’s Shareholders Equity* (Eu Mn) Net Financial Position (Eu Mn) 53.5 205 197.1 (E) 50 179.4 160.4 155 143.9 30 129.9 10 4.2 105 84.0 April 30 April 30 April 30 April 30 April 30 April 30 April 30 2011 2012 2013 2014 2015 2016 2017E 67.8 -10 55 -30 (20.7)
Slide 17: Key Investors Information
Key Investors Information Sesa (Euro) 2017 2016 2015 2014 SeSa shares are listed on the MTA Italian Stock Exchange Stock Market (1) MTA - MTA - MTA AIM since October 23, 2013 (STAR Segment since February 16, Star Star 2015) Stock market price (January 18.68 14.42 13.28 11.38 31 of every Fiscal Yea
Slide 18: Income Statement as of Jan 31st, 2017 – Annex 1
Income Statement as of Jan 31st, 2017 – Annex 1 Reclassified income statement 01/31/2017 01/31/2016 Change % % (Euro thousands) (9 months) (9 months) 2017/16 Revenues 937,701 896,668 4.6% Other income 7,348 4,353 68.8% Total Revenues and Other Income 945,049 100.0% 901,021 100.0% 4.9% Purchase of go
Slide 19: Balance Sheet as of Jan 31st, 2017 – Annex 2
Balance Sheet as of Jan 31st, 2017 – Annex 2 Reclassified Balance Sheet 01/31/2017 01/31/2016 04/30/2016 (Euro thousands) Intangible assets 18,147 16,763 17,251 Property, plant and equipment 46,996 42,355 44,437 Investments valued at equity 3,180 3,859 3,938 Other non-current receivables and deferre
Slide 20: Income Statement as of April 30th, 2016 – Annex 3
Income Statement as of April 30th, 2016 – Annex 3 Reclassified income statement Change 04/30/2016 % 04/30/2015 % (Euro thousands) 2016/15 Revenues 1,223,485 1,054,038 16.1% Other income 6,117 6,122 Total Revenues and Other Income 1,229,602 100.0% 1,060,160 100.0% 16.0% Purchase of goods 1,043,195 84
Slide 21: Balance Sheet as of April 30th, 2016 – Annex 4
Balance Sheet as of April 30th, 2016 – Annex 4 Reclassified Balance Sheet 04/30/2016 04/30/2015 Change 2016/15 (Euro thousands) Intangible assets 17,251 7,190 10,061 Property, plant and equipment 44,437 37,953 6,484 Investments valued at equity 3,938 2,766 1,172 Other non-current receivables and def
Slide 22: Disclaimer
Disclaimer This document has been prepared by Sesa SpA (“SeSa” or the “Company”) and by its subsidiaries (hereinafter «SeSa Group») solely for this presentation and does not represent any investment research , recommendation, consulting or suggestion, concerning the Company or its shares or any othe