Slide 1: Company presentation FY2020 - where sky and sea meet. and beyond.
Slide 2: Disclaimer
This document has been prepared by SOMEC S.p.A. (the ‘Company’) solely for the purposes of this presentation. This document may not be reproduced or distributed in whole or in part by any other person with any way than the Company. The Company takes no responsibility for the use of this document by
Slide 3: Somec group company overview
Somec group brings together highly experienced companies specializing in engineering, design, and manufacturing of turnkey projects, marine or land-based: glass envelopes and façades, special architectural projects, public areas interiors, professional cooking equipment. 3
Slide 4: Seascape and Landscape business areas
Seascape Landscape Design, engineering, Design,manufacture Design, supply and System engineering, Production of Turn-key contract solutions manufacture and & installation of installation of turnkey manufacturing and professional food service for luxury outfitting of installation of glass professiona
Slide 5: Group structure
Somec S.p.A Seascape Landscape PE Somec 100% Navaltech 100% Sotrade 100% Oxin 90% Hysea 60% TSI 100% 3.0 60% Skillmax 90% Inoxtrend 100% Pizza *60% Primax 80% Gico France Partners Group PE Somec 100% Seatech PE Sotrade PE Oxin 100% TSI Inc. Finland Finland Romania Inc. 51% Fabbrica PE Somec PE Sotra
Slide 6: Shareholders and management
Free float 24.76% 0,24% Oscar Marchetto 0,07% Venezia Giancarlo S.p.A. Corazza 74.86% 0,07% Alessandro Zanchetta Oscar Gian Carlo Alessandro Marchetto Corazza Zanchetta Chairman and CEO Chief Operating Officer Chief Financial Officer of Somec of Somec of Somec Oscar Marchetto Giancarlo Corazza Aless
Slide 7: IPO value and market capitalization
ISIN: IT0005329815 IPO Value € 18.00 Value at 26 Mar 2021 € 24.40 N° of share 6,900,000 Capital raised on IPO € 31 mln Market cap at 26 Mar 2021 € 168.4 mln Use of Primary Support the external growth through Proceeds acquisitions 7
Slide 8: Backlog record at 767 €m and robust 2020 order intake
2020 results in line with guidance Backlog record at 767 €m and robust 2020 order intake Back to prepandemic growth from 2021 The cruise market is targeting a strong future rebound, thanks to vaccine somministration roll-out in USA and UK (main cruise market) The building façades market in US expect
Slide 9: FY2020 highlights
• Order intake +253 €m in FY2020 • Backlog record at 767 €m +129 €m from the FY2019 • Revenues at 223 €m in line with 2020 guidance considering currency effect • EBITDA Adj at 20,0 € in line with 2020 guidance, EBITDA Adj margin at 9% from 2019 9.7%, due to the effect of Covid-19 on volumes and on p
Slide 10: Backlog record, order intake and Covid-19 response
CLIENTS & BUSINESS PEOPLE CORPORATE & DEVELOPMENT BUSINESS DEVELOPMENT Backlog record at 767 €m Task force weekly meeting +4 acquisitions +129 €m from FY2019 Smart working +250 €m order intake Order intake +253 €m Onsite social distancing, Translisting to the main Strong cash generation +16.4 €m of
Slide 11: Cruise market outlook
4% Alaska 8% Europe, Asia North. Europe and the South United States, & Baltics Pacific Canada, resumed sailing 74% Mexico, the Carribean beginning of cruisers are July 2020 likely to cruise in on path to the next five resumption 16% years June 2021 42% Mediterranean Carribean, US represent a Bahamas
Slide 12: US building façades market
Energy efficiency is expected to boost 20% construction and Midwest renovation of building Chicago, Cleveland, 30% Minneapolis, North East Cincinnati New York, 25% Education & West Coast Fabbrica Hqs Boston, Washington DC institutional Los Angeles, buildings could drive San Francisco, Somec Hqs Seat
Slide 13: Backlog breakdown and revenue coverage
2021 2022 2023 300 €m 2024 2025 2026 2027 767 €m Backlog (31.12.2020) 23% 23% 15% 12% 12% 10% 5% 50.4% 21.7% marine others building glazing A façades 11% 19% E 6.2% 16% marine public areas 19% B 17% D 21.7% 18% Seascape marine cooking Landscape equipment Seascape C 13
Slide 14: Value chain and cost structure
809 98 405 143 163 we design, we follow engineer we manufacture each step we create and and install of the a profitable innovate on site project business 18% 12% 62% PM, MKTG 20% R&D and Production & sales and Admin Engineering and installation on site tendering and Staff Squadra Srl 126 15% R&D and
Slide 15: Revenues by segment and region
€m - IAS/IFRS Seascape Seascape Landscape Landscape 9% 1% 7% professional public areas 92.9 Rest of world cooking equip. interiors 21% -3% 90.4 Italy 43% 30% 33% -11% North building marine America façades glazing 251.4 223,4 158.5 -16% 133.0 29% 10% 17% 2019 2020 2019 2020 Europe marine marine cooki
Slide 16: EBITDA and net profit
€m - IAS/IFRS Seascape Landscape 8.3 adj. (1.3) D&A** -42% ADJ.* -18% 4.9 24.4 20.0 20.0 (20.9) 16.1 -14% 13.8 FIN. INCOME 1.5 3.7 2019 2020 2019 2020 EBITDA NET ADJ PROFIT * ADJ. includes 1,1 €m cost for MTA Tranlisting and 0,2 €m cost for Covid-10 protection material **D&A includes Extr. Costs -5,
Slide 17: Net financial position bridge
3.4 8.0 -20.9 2,4 4.8 2.1 39.0 9,8 39.3 20.0 (20.9) 20.0 16.1 13.8 1.5 3.7 NFP (Debt) NET D&A* Change Other CAPEX M&A M&A DIVIDENDS NFP (Debt) 31.12.2019 PROFIT in NWC Cash-out Put&Call** 2019 Fiscal 31.12.2020 excl. IFRS16 Year excl. IFRS16 *D&A includes Extr. Costs -5,8€m : Write Down Goodwill -4,
Slide 18: Appendix
Slide 19: Reclassified consolidated income statement
Reclassified consolidated income statement 2020 % 2019 % Δ% In euro thousand Revenue from contracts with customers 222,068 99.4% 249,971 99.4% -11.2% Other revenues and income 1,356 0.6% 1,422 0.6% -4.7% Total revenues 223,424 100.0% 251,393 100.0% -11.1% Materials, services and other costs (164,314
Slide 20: Reclassified consolidated balance sheet
Reclassified consolidated balance sheet 31.12.2020 31.12.2019 In euro thousand Intangible assets 52,087 57,981 of which Goodwill 27,555 28,484 Tangible assets 16,056 12,193 Right-of-use assets 18,944 18,693 Investment in an associate and joint venture 194 83 Non-current financial assets 282 - Other
Slide 21: Net financial position and IFRS 16 impact
Net financial position 31.12.2020 31.12.2019 In euro thousand Cash and cash equivalents 51 29 Bank deposits 41,792 29,399 Total liquidity 41,843 29,428 Current financial assets 331 1 Current bank debt (9,555) (7,297) Current portion of bank loans and credit facilities (16,862) (12,763) Other current
Slide 22: Cash flow statement
Cash Flow statement 31.12.2020 31.12.2019 In euro thousand Cash flows from operating activities 16,375 5,296 Cash flows from investing activities (10,594) (13,879) Free Cash Flow 5,781 (8,582) Cash flows from financing activities 6,842 13,229 Effect of exchange rate changes on cash and cash equivale
Slide 23: Investor Relations Office
Investor Relations Office Phone:+39 0438 471998 Email: ir@somecgroup.com