Slide 1: Group Presentation Q1 2017
Group Presentation Q1 2017 Milan, September 20th 2016
Slide 2: Index
Index Milan, September 20, 2016 Alessandro Fabbroni, SeSa Chief Executive Officer Conxi Palmero, SeSa IR Manager Group Structure and Business Model slide 3-11 Group Economic and Financial Results as of July 31, 2016 (Q1 2017) slide 12-15 Economics and Financials Annual Track Record 2011-20
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 1,200 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, Dell, EMC, HP, IBM, Lenovo, Microsoft, Oracle), focusing on value-added segments: Storage Software Enterprise Networking Server IT Services Continuous growth since 1973, by leveraging on
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 43.9% (source Sirmi, May 2016) thanks to the long term partnerships with the IT Global Vendors (IT Titans*) Long-term partnerships with IT Titans* and othe
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 Supply Chain
IT Supply Chain Vendor Information Technology producers, global players GLOBAL IT VENDOR worldwide Value Distributors Distributors Focused on valued added IT solutions Volume Distributors They distribute IT solutions Hybrid Distribution Wholesalers of a wide range of IT and (systems, networking, sof
Slide 8: IT Market
IT Market Italian IT market expected to grow by 1.2% in 2016, after recording a three-year period average decrease by 2.8% (source: Sirmi, July 2016) IT demand expected to recover over the 2016-2018 period (1.5% average growth) Total market value equal to Eu 18.4 billion in 2016 with significa
Slide 9: Continuous growth since 90s
Continuous growth since 90s 10.5% Revenue CAGR* over 2011-16 period, mainly organic also thanks to some new distribution agreements 16% Revenue* growth in the last FY as of April 30, 2016 Continuous growth since ’90s over-performing the reference market 1400 CAGR +10.5% FY2011-FY2016 1200 1,23
Slide 10: 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 43.9% market share in 2015 (source Sirmi, May 2016), vs 43.7% as of 2014 43.9% CGI is the largest Italian distributor 43.7% in the high value-added segmen
Slide 11: VAR focusing on the Italian Enterprises
VAR focusing on the Italian Enterprises VAR is a leading System Integrator on the Italian • Proprietary ERP and Vertical Solutions Enterprise and SME Segments (SME and Enterprise ERP designed for Italian SMB • International ERP (SAP) represent about 30% of total IT market – source Sirmi, 2016) IT
Slide 12: Group Economic Results: Q1 2017 vs Q1 2016
Group Economic Results: Q1 2017 vs Q1 2016 Revenues* (Eu Mn) Ebitda (Eu Mn, %) +5.1% +8.8% 4.2% 4.1% July 31 2016 July 31 2015 July 31 2016 July 31 2015 Ebit (Eu Mn, %) Net profit** (Eu Mn, %) +5.2% +12.5% 3.0% 1.8% 1.7% 3.0% July 31 2016 July 31 2015 July 31 2016 July 31 2015 (*) Sales and other re
Slide 13: Segment Reporting: Q1 2017 vs Q1 2016
Segment Reporting: Q1 2017 vs Q1 2016 Revenues and Other Ebitda Ebit Net Profit* Income (Eu Mn) (Eu Mn) (Eu Mn) (Eu Mn) Group’s Segments Q1 17 Q1 16 Growth % Q1 17 Q1 16 Growth % Q1 17 Q1 16 Growth % Q1 17 Q1 16 Growth % Value Added Distribution (VAD) 260.2 254.6 2.2% 9.7 10.0 -3.2% 7.4 7.7 -4.1% 4.
Slide 14: Group Financial Results: Q1 2017 vs Q1 2016
Group Financial Results: Q1 2017 vs Q1 2016 Group Shareholders Net Financial Position (NFP) Equity* (Eu Mn) (Eu Mn) +11.6% +44.9% July 31 2016 July 31 2015 July 31 2016 July 31 2015 Consolidated Group equity at July 31, 2016 equal to Eu 184.7 Mn, compared to Eu 165.4 Mn at July 31, 2015 and Eu 179
Slide 15: Group Financial Structure as of July 31, 2016
Group Financial Structure as of July 31, 2016 Jul 31, 2016 Jul 31, 2015 250 197.3 197.3 NFP 188.4 188.4 12.7 200 Non current NFP Liabilities 23.0 22.2 Non current Liabilities NWC 19.6 150 135.6 NWC 130.0 100 Group Equity 184.7 Group Equity 165.4 50 Fixed Assets 83.9 Fixed Assets 77.9 0 31 Jul 2016 3
Slide 16: Group Economics FY 2011-2017E
Group Economics FY 2011-2017E Revenues** (Eu Mn) Ebitda (Eu Mn, %) 1450 65 1,288 (E) 56.8 (E) 1,230 1250 55 51.6 52.4 1,060 49.5* 4.4% 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 Apr 30 Apr 30 Apr 30 Apr 2011 2012 2013 2
Slide 17: Group Financials FY 2011-2017E
Group Financials FY 2011-2017E 255 Group’s Shareholders Equity* (Eu Mn) Net Financial Position (Eu Mn) 197.1 (E) 60 53.5 205 179.4 50 160.4 40 155 143.9 30 129.9 20 105 10 4.2 84.0 67.8 0 April 30 April 30 April 30 April 30 April 30 April 30 April 30 2011 2012 2013 2014 2015 2016 2017E 55 -10 -20 -2
Slide 18: Key Investors Information
Key Investors Information Sesa (Euro) 2016 2015 2014 2013 SeSa shares are listed on the MTA Italian Stock Stock Market (1) MTA - MTA - MTA AIM Exchange since October 23, 2013 (STAR Star Star Segment since February 16, 2015) Stock market price (April 30 15.40 16.34 13.20 10.40 of every Fiscal Year)
Slide 19: Income Statement as of July 31st, 2016 – Annex 1
Income Statement as of July 31st, 2016 – Annex 1 07/31/2016 07/31/2015 Change Reclassified income statement % % (3 months) (3 months) 2016/15 Revenues 293,199 279,265 5.0% Other income 1,714 1,317 30.1% Total Revenues and Other Income 294,913 100.0% 280,582 100.0% 5.1% Purchase of goods 245,502 83.3
Slide 20: Balance Sheet as of July 31st, 2016 – Annex 2
Balance Sheet as of July 31st, 2016 – Annex 2 Reclassified Balance Sheet 07/31/2016 07/31/2015 04/30/2016 Intangible assets 18,111 13,518 17,251 Property, plant and equipment 45,464 39,492 44,437 Investments valued at equity 3,988 7,511 3,938 Other non-current receivables 16,362 17,400 16,340 Total
Slide 21: Income Statement as of April 30th, 2016 – Annex 3
Income Statement as of April 30th, 2016 – Annex 3 Change Reclassified income statement 04/30/2016 % 04/30/2015 % 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% Goods for resale 1,043,195 84.8% 896,041 84.5%
Slide 22: Balance Sheet as of April 30th, 2016 – Annex 4
Balance Sheet as of April 30th, 2016 – Annex 4 Change Reclassified Balance Sheet 04/30/2016 04/30/2015 2016/15 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 tax assets 16,340 17
Slide 23: Disclaimer
Disclaimer This presentation (hereinafter the “Presentation” or the “Document”) has been prepared by SeSa SpA (“SeSa” or the “Company”) and by its subsidiaries (hereinafter «SeSa Group») for information purposes only. The presentation does not represent any investment research , recommendation, cons