Prysmian S.p.a. · MIL:PRY
Prysmian — Non-Deal Roadshow (July 2018)
12 slides from Prysmian's roadshow presentation, Jul 2, 2018
Slide 1: Prysmian Road-Show July 2018
PRYSMIAN ROAD-SHOW JULY-2018
Slide 2: Prysmian Group and General Cable join forces
PRYSMIAN GROUP AND GENERAL CABLE JOIN FORCES APAC 3.4 11.3 Group overview 9% EMEA Latam 54% Net sales 7.9 • Headquartered in Milan (Italy) with a history that began 9% two centuries ago 2017A PF (€ bln) North • The widest cable technology offer worldwide: Power America Grids, Construction & Infrastr
Slide 3: The widest product portfolio
THE WIDEST PRODUCT PORTFOLIO POWER GRIDS OIL & GAS TELECOMS ELECTRONICS HV&Submarine / Transmission / Distribution / Exploration & Production / Pipelines & LNG / Optical Fiber / Telecom Networks / Partial Discharge / Measurements Offshore Wind Farms / Power From Shore / Refineries & Petrochemical /
Slide 4: 2018 full year combined guidance
2018 FULL YEAR COMBINED GUIDANCE €m Min Max Comments • Including €70m (€20m + Energy Energy €50m) of provision related to Adjusted EBITDA Projects Products the WesternLink contract Prysmian 2018 680 720 • Including the negative impact Oil&Gas Telecom deriving from FX evolution (between €20-25m) Nort
Slide 5: Rights issue terms
RIGHTS ISSUE TERMS Issuer Prysmian S.p.A. (“Prysmian”) • € 500m fully underwritten rights issue • 32,652,314m shares ordinary shares Offering Size and • € 15.31 subscription price Structure • 25.82% discount to TERP (based on the closing price of € 21.35 on 27th June 2018) • 2 new shares for every 1
Slide 6: An industry-shaping move driven by a strong acquisition rationale
AN INDUSTRY-SHAPING MOVE DRIVEN BY A STRONG ACQUISITION RATIONALE Enhancing Prysmian’s worldwide leadership Highly complementary geographical presence with major exposure increase to North America and expansion in Europe and Latam Extended and synergic product portfolio Combination of management exp
Slide 7: A landmark acquisition in Prysmian's growth story
A LANDMARK ACQUISITION IN PRYSMIAN’S GROWTH STORY 2005 2008 2011 2015 2017 Reacting to downturn through “Bolt-On” Landmark Profitable growth Managing the downturn consolidation acquisitions deal Public #1 cable Enhancing Listing Post-merger integration company maker leadership Jul 05: May 07: Strate
Slide 8: Enhanced industry leadership
ENHANCED INDUSTRY LEADERSHIP Top 12 global cable & systems players by revenue (€ Bn, 2017FY) 11.3 7.9 3.4 P + GC Prysmian Nexans Southwire GC Hengtong CommScope LS Cable Furukawa Baosheng Sumitomo Leoni Fujikura NKT Optic-Electric Science & Electric + Tech Slide 3
Slide 9: Highly complementary geographical presence with strong North American platform
HIGHLY COMPLEMENTARY GEOGRAPHICAL PRESENCE WITH STRONG NORTH AMERICAN PLATFORM EMEA Prysmian core presence with limited overlapping NORTH €6.1bn AMERICA €3.1bn APAC Increased presence in North America Leveraging on Prysmian resulting in improved consolidated footprint country mix €959m Presence1 Pry
Slide 10: Multiple sources of synergies all under management control
MULTIPLE SOURCES OF SYNERGIES ALL UNDER MANAGEMENT CONTROL Expected pre-tax run-rate cost synergies Sources of estimated synergies • Procurement ~€150m Substantial • Overhead costs’ saving part achieved • Manufacturing footprint optimization Additional potential upside from net working capital manag
Slide 11: Turnover is vanity, profit is sanity but cash is king!
Turnover is vanity, profit is sanity but cash is king!
Slide 12: Thank you!
Thank you!