Zignago Vetro SpA · MIL:ZV
Zignago Vetro SpA — Italian Sustainability Week 2021
36 slides from Zignago Vetro SpA's conference presentation, Jun 29, 2021
Slide 1: OdldA OOVNOIZ
OdldA OOVNOIZ
Slide 2: Italian Sustainability Week Company Presentation & Financial Results
Italian Sustainability Week Company Presentation & Financial Results 29/06/2021 2
Slide 3: Company structure
Company structure 65% 35% Zignago Holding S.p.A. FREE FLOAT on the ITALIAN (MARZOTTO FAMILY) STOCK EXCHANGE Zignago Vetro 238,6 mln€ ZV Group consolidated 2020 data 406,6 mln€ Vetro Revet 51% 7,5 mln€ (*) Zignago Vetro Brosse Zignago Vetro Polska Vetri Speciali Zignago Glass USA 34,0 mln€ 48,0 mln€
Slide 4: Zignago Holding
Zignago Holding Zignago Vetro is the parent company of a group of glassworks. It is part of Zignago Holding S.p.A, a dynamic organization located in North-East Italy, consisting of a diversified portfolio of businesses controlled and owned by the Marzotto Family. Others Glass Renewable Fine wines co
Slide 5: Zignago Vetro milestones
Zignago Vetro milestones Portogruaro Acquisition of 3 companies Acquisition of Acquisition of Plant: F&B + producing specialty Zignago Vetro Vetro Revet: C&P + Pharma containers, later merged Polska in Poland: recycling of glass into Vetri Speciali C&P + F&B cullet. 1979 1987 1994 1995 2002 2004 200
Slide 6: Business Units
Business Units 2020 (€m) MARKET SEGMENTS PRODUCTS MAIN CHARACTERISTICS COMPETITIVE ADVANTAGE Flexibility, efficiency, and technical know- how are keys to success. Flexibility ZIGNAGO VETRO Food & Beverage Sales € 238,6 Cosmetics & Perfumery Focus on selected segments of food & Quality beverage a
Slide 7: International presence
International presence Trabki, Poland Viuex Rouen sur Bresle & Paris, France Pergine Valsugana, Gardolo Ormelle San Vito al Tagliamento Italy San Vito al Tagliamento, Italy Supino, Italy Miami, USA Empoli Fossalta di Portogruaro Italy Empoli, Italy Glass companies Sales office HQ Glass recycling 202
Slide 8: Our core business
Our core business Group 429,6 Mln € Zignago Vetro Group is among the leading producers of hollow glass containers in Italy and is one of the most important players on an international level. Our main markets are: 23% - Food and Beverage 50% - Cosmetics and Perfumery - Specialty Containers 23% 4% Tha
Slide 9: Our identity
Our identity VALUES Quality Flexibility Innovation Efficiency Service Sustainability MISSION Ensuring and enhancing the best products, quality and service to our valued customers, keeping a particular focus on the sustainability aspects. STRATEGY We are a dynamic Group, with a strong international m
Slide 10: Business model
Business model PEOPLE An essential and distinctive element of the Group’s success. FLEXIBILITY AND EFFICIENCY Zignago Vetro Group offers products that differ greatly, ranging from standard to customized items, to those offering very significant innovations, up to the production of specialty containe
Slide 11: Commercial presence
Commercial presence Concentration rate of Customer loyalty the first 5 clients1 (revenues)2 Zignavo Vetro 17% 96% ZV Brosse 45% 90% ZV Polska 25% 89% Vetri Speciali 27% 92% 1 Net of intercompany sales 2 Revenues from customers present also in the previous 2 years 2021 COMPANY PRESENTATION FINANCIAL
Slide 12: ESG Approach
29/06/2021 ag ZIGNAGO VETRO —
Slide 13: ESG (Environment, Social, Governance)
ESG (Environment, Social, Governance) Our Mission: Produce and market glass containers for the Food & Beverage and the Cosmetics & Perfumery sector, with a particular focus on sustainability and with the aim of providing our customers with safe and high-quality products, while ensuring continuous va
Slide 14: ESG (Environment, Social, Governance)
ESG (Environment, Social, Governance) Aware of its role for the sustainable development, Zignago Vetro has linked its activities to the 2030 Agenda of the United Nations, focusing mainly on the subsequent 13 Goals that are connected to 3 main pillars: Environment Social Governance PILLARS Environmen
Slide 15: ESG - Environment
ESG - Environment 2020 main Environmental achievements vs 2019: – the % of PCR used on total glass produced has increased – specific water consumption per ton of glass by +14,6%; produced has significantly decreased by -20,3%; – CO2 specific emissions (Scope 1 and 2) have decreased – ordinary waste
Slide 16: ESG - Environment
ESG - Environment For the first time, in 2020, the Group provides full disclosure on the management of its packaging materials: % of recycled % of recycled packaging in 2019 packaging in 2020 Pallets 62,6% 66,2% Layer pads 64,6% 79,6% % recycled materials % recycled materials in the packaging used i
Slide 17: ESG - Environment
ESG - Environment In January 2020 we’ve started a special project dedicated to the reduction of CO2 emissions. The aim is to improve our performance and get significant reduction of CO2 emissions, by focusing on those of Scope 2 and Scope 3. Fuel and energy Upstream and downstream related activities
Slide 18: Certifications
Certifications The Group has elaborated a strategic program for the achievement of various certifications in the next 5 years: Zignago Vetro Italy Zignago Vetro Italy Zignago Vetro Brosse Zignago Vetro Polska (Fossalta) (Empoli) ISO 9001 Within 2021 (Product quality) ISO 14001 Within 2022 (Environme
Slide 19: ESG - Social
ESG - Social 2020 main Social achievements vs 2019: - the outgoing employees’ turnover has decreased by -4%; whereas the female workforce has increased, representing the 31% of the total workforce; - Corporate Welfare Plan implemented in ZV Itlay; - insurance policy extended for situations outside o
Slide 20: Social: Covid-19 measures
Social: Covid-19 measures Given the emergency situation caused by Covid-19, Zignago Vetro has implemented numerous actions to protect the health & safety of its employees and all its stakeholders: Solidarity program: - 1 Million Euros has been donated by Zignago Group to the town hospital to build a
Slide 21: Governance: Board of Directors
Governance: Board of Directors The structure of Board of Directors is characterized by gender and independency balance: Executive Not executive Name and last name Independent Independent Directors Minority list Paolo Giacobbo E Non-Independent Roberto Cardini E Directors Gaetano Marzotto NE Stefano
Slide 22: Governance: risk management system & fiscal transparency
Governance: risk management system & fiscal transparency The Group’s governance has an Internal Control and Risk Management System, aimed at identifying, measuring and monitoring the principal risks. The main bodies are: - the Board of Directors; - the Director in charge of the Internal Control and
Slide 23: Governance: ESG Framework
Governance: ESG Framework Since 2019 Zignago Vetro has implemented a complete ESG FRAMEWORK, which is structured as follows: - ESG POLICY - ESG ORGANIZATIONAL STRUCTURE: - ESG COMMITTEE - ESG COORDINATOR - ESG CONSULTANTS - ESG GOVERNANCE: - ESG STRATEGY - ESG POLICIES - ESG’S OBJECTIVES SYSTEM & ME
Slide 24: Environment: KPIs and Goals
Environment: KPIs and Goals TOPIC KPIs 2020 2021 2026 Achieved Goal Goal Strategic Goal Raw materials % of PCR used on total glass 48,0% 52,0% 57,0% management produced % of recycled packaging or Packaging packaging containing Increased Keep Increasing Keep Increasing management recycled material En
Slide 25: Social: KPIs and Goals
Social: KPIs and Goals TOPIC KPIs 2020 2021 2026 Achieved Goal Goal Strategic Goal Outgoing turnover ∆%: -4% n.a. n.a. Human Resources Work-life balance initiatives Implemented Ongoing Ongoing management To be extended in other To be extended in Corporate Welfare plan Implemented in Italy plants oth
Slide 26: Governance: KPIs and Goals
Governance: KPIs and Goals 2020 2021 2026 TOPIC KPIs Achieved Goal Goal Strategic Goal Fiscal transparency Corruption cases 0 0 0 Operative structure and committees able to Governance structure Achieved Ongoing achievement Ongoing achievement guarantee proper level of management quality Component of
Slide 27: Annex: Financial Results
Annex Financial Results 29/06/2021 27
Slide 28: Sales and profitability track record
Sales and profitability track record Sales and EBITDA (1988-2020) CAGR: +7,5% Euro (m) 450 421 407 400 376 350 337 319 323 299 302 291 292 300 265 257 241 250 230 209 193 200 162 142 CAGR: +7,5% 150 133 118 107 104 109 90 94 93 95 92 104 100 82 77 81 71 70 71 70 75 62 64 62 67 66 58 57 54 49 50 40 4
Slide 29: Sales and profitability track record
Sales and profitability track record Revenues (€m) EBITDA (€m) 27,2% 27,7% 28,1% 26,2% 450 130 25,1% 30% -3.3% 120 400 +11.7% +11.7% 110 25% 350 +4.4% 100 300 90 20% 250 80 15% 200 420,5 406,6 70 118,1 337,0 376,5 60 104,3 106,6 150 322,9 91,6 10% 100 50 80,9 40 5% 50 30 0 20 0% 2016 2017 2018 2019
Slide 30: 1Q 2021 revenues & profitability
1Q 2021 revenues & profitability ZIGNAGO VETRO GROUP Revenues (€m) EBITDA (€m) Net Result (€m) 120 +1.1% 35 30% 15 10,4% 12% 25,8% 100 30 24,4% 25% 10% 25 6,9% 80 20% 10 8% 20 60 15% 6% 109,0 110,2 15 26,5 28,4 11,5 40 10% 5 4% 10 7,5 20 5 5% 2% 0 0 0% 0 0% 1Q 2020 1Q 2021 1Q 2020 1Q 2021 1Q 2020 1Q
Slide 31: 1Q 2021 revenues & profitability by BU
1Q 2021 revenues & profitability by BU ZIGNAGO VETRO ZIGNAGO VETRO BROSSE Revenues (€m) Revenues (€m) 80 12 -2.6% -11.7% 10 60 8 40 6 12,0 63,9 62,3 10,6 4 20 2 0 0 1Q 2020 1Q 2021 1Q 2020 1Q 2021 EBITDA (€m) EBITDA (€m) 20 30% 1,0 8,4% 10% 24,4% 24,6% 25% 15 0,9 20% 0,5 5% 10 15% 15,6 15,3 10% 5 0,
Slide 32: 1Q 2021 revenues & profitability by BU
1Q 2021 revenues & profitability by BU VETRI SPECIALI (50%) ZIGNAGO VETRO POLSKA Revenues (€m) Revenues (€m) 30 +21.8% 15 +6.3% 25 20 10 15 27,6 12,4 11,7 10 22,7 5 5 0 0 1Q 2020 1Q 2021 1Q 2020 1Q 2021 EBITDA (€m) EBITDA (€m) 10 31,8% 35% 5 29,8% 35% 28,6% 28,8% 30% 30% 8 4 25% 25% 6 20% 3 20% 4 15
Slide 33: ZV Group – Balance sheet
ZV Group – Balance sheet Net Capital Employed (€m) Net Working Capital (€m) 30,4% 31,3% 140 29,0% 500 30% 120 23,2% 400 25% 100 20% 300 80 487,2 490,7 127,3 138,1 15% 473,3 60 122,0 200 372,5 417,2 102,5 40 87,3 10% 100 20 5% 0 0 0% 2017 2018 2019 2020 1Q 2021 2017 2018 2019 2020 1Q 2021 Net working
Slide 34: ZV Group – Cash flow from operation & capex
ZV Group – Cash flow from operation & capex Cash Flow from Operations (before capex) (€m) Capex (€m) 100 22,9% 25% 100 21,0% 19,6% 80 20% 80 17,4% 60 15% 60 93,2 94,3 40 79,1 82,6 10% 40 66,0 66,1 58,3 20 5% 20 42,7 16,6 0 0% 7,0 0 2017 2018 2019 2020 1Q 2021 2017 2018 2019 2020 1Q 2021 CF OPERATION
Slide 35: Financial structure, EPS & dividends
Financial structure, EPS & dividends Key financial structure ratios EPS and Dividend distribution (Euro) 2,41 74% 74% 2,50 0,80 71% 72% 71% 71% 71% 70% 70% 69,2% 2,13 2,08 2,13 70% 1,93 0,70 2,00 0,60 1,72 1,58 1,64 0,60 0,51 0,52 60% 1,50 1,31 0,50 0,45 0,40 0,98 0,40 0,35 0,35 50% 1,00 0,33 0,422
Slide 36: Contacts: Roberto Celot, CFO & IR
Contacts: Roberto Celot CFO & IR r.celot@zignagovetro.com Zignago Vetro S.p.A. Via Ita Marzotto 8, 30025 Fossalta di Portogruaro (VE) – Italy Tel (+39) 0421 246111 - info@zignagovetro.com