Interpump Group S.p.a. · MIL:IP
Interpump — FY2023 Earnings Presentation
67 slides from Interpump's earnings presentation, April 2024
Slide 1: Interpump Group
INTERPUMP GROUP April 2024
Slide 2: Index
INDEX ▪• INTERPUMP – GROUP OVERVIEW KEY HIGHLIGHTS ▪• 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪• ESG PATH GROUP SUSTAINABILITY PATH ▪• ANNEX OUTLOOK • ANNEX 1
Slide 3: Interpump – Group Overview
INTERPUMP ▪ INTERPUMP – GROUP OVERVIEW 2
Slide 4: Interpump a Delivering Group
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP ▪ € 2.240m of turnover and € 536m of EBITDA (24% on net sales) in 2023 divided between two divisions − Hydraulics and Water Jetting ▪ Hydraulics: around 75% of Group sales, EBITDA margin around 22% − Wide range of components for mobile and non-mobile hydraul
Slide 5: Interpump a Delivering Group – Excellence Track Record
2023 INTERPUMP A DELIVERING GROUP – EXCELLENCE TRACK RECORD ▪ Since IPO in 1996 a track record of excellence and GROUP 1996-2023 SALES EVOLUTION (€ million) resilience ▪ Sales: only 4 years of decrease driven by strategic 2020: COVID crisis Sales: -5.4% activities review (1) or extraordinary externa
Slide 6: A Delivering Group – Excellence Track Record (FCF)
2023 2024 A DELIVERING GROUP – EXCELLENCE TRACK RECORD ▪ FCF: growing generation and consistent GROUP 1996-2023 FCF EVOLUTION (€ million) exploitation in worsening environment – EBITDA excellence and resilience 250.0 – TWC proactive management 200.0 • Customer quality 150.0 • Tactical supply chain a
Slide 7: Sales Diversification
ANNEX INTERPUMP A DELIVERING GROUP – SALES DIVERSIFICATION GROUP 2023 sales: € 2.240m PACIFIC AREA: 11% OTHERS: 1% EARTH MOVING MACHINE: 8% GENERIC DEALERS: 16% CONSTRUCTION: 8% REST of THE WORLD: 9% CLEANING: 5% AGRICOLTURE: 10% GENERIC CONTRACTORS: 3% EUROPE: 52% OTHER INDUSTRIAL SECTOR: 8% LIFT:
Slide 8: Market Diversification
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – MARKET DIVERSIFICATION WATER JETTING HYDRAULICS HIGH PRESSURE PUMPS DEVICES FLOW HANDLING COMPONENTS & SYSTEMS • Power take-offs, cylinders, hydraulic motors & gear • Piston pumps 1-2,000hP used in • Stainless steel agitators, mixers, pumps, valves high-pr
Slide 9: Application Diversification
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – APPLICATION DIVERSIFICATION HYDRAULICS WATER JETTING TRUCK OUTFITTERS FOOD, COSMETICS (1) AUTOMOTIVE EARTH MOVING Tipping trucks High-pressure homogenizers Rail engine heads deburring Excavators Trash collection Water-jet food cutting, Bodywork cutting Bac
Slide 10: Brand & Product Diversification
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – BRAND&PRODUCT DIVERSIFICATION WATER JETTING HYDRAULICS HIGH PRESSURE PUMPS FLOW HANDLING COMPONENTS DEVICES & SYSTEMS INTERPUMP INTERPUMP HYDRAULICS WALVOIL – WHITE - EUROFLUID PRATISSOLI BERTOLI MUNCIE POWER Directional control valves, High flow/pressure
Slide 11: Strategy Milestones
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – STRATEGY MILESTONES FLEXIBILITY • Vertically integrates manufacturing DIVERSIFICATION (wherever possible) Product mix and sales strategy • Across the widest possible range • Use of general-purpose programmable of applications, products, can adapt fast to m
Slide 12: Strategy Milestones
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – STRATEGY MILESTONES Volatility reduction through multiple cycles exposure Effective reaction to unexpected swings FLEXIBILITY • Vertically integrates manufacturing DIVERSIFICATION (wherever possible) Product mix and sales strategy • Across the widest possi
Slide 13: 2023-25 Group Commitments
3Q-3Q2023YTD INTERPUMP A DELIVERING GROUP – 2023-25 GROUP COMMITMENTS ▪ 2023-25 commitments, 1 target with 2 guidelines (1) 2022-25 GROUP EXPECTED SALES EVOLUTION (1) 3,500 2022-2025 sales growth: +25% ▪ One target: sales 3,000 – around 25% of total growth(2) 2,500 2,000 ▪ Two guidelines: profitabil
Slide 14: 2023 Preliminary Results
INTERPUMP A DELIVERING GROUP – 2023 PRELIMINARY RESULTS ▪ 2023 achievements 2010-23 GROUP EBITDA MARGIN EVOLUTION ‒ Financials 29.0% • Sales, high-single digit organic growth: 6.9% (1) 27.0% 24% • Profitability, a new record: 24% (2) 25.0% 22.9% 22.6% 23.2% 22.7% 23.7% 23.7% 23.0% 21.5% • FCF, almos
Slide 15: 2024 Expectations
2023 INTERPUMP A DELIVERING GROUP – 2024 EXPECTATIONS ▪ 2024 entrance consistent with 2023 trends (1) 2010-2023 BACKLOG EVOLUTION (1) 1500.0 Million € ‒ Water Jetting constant increase mitigated 1400.0 1300.0 Hydraulic normalization 1200.0 1100.0 2021-23 average ‒ Visibility assured by a backlog 3x
Slide 16: 2024 Expectations
INTERPUMP A DELIVERING GROUP – 2024 EXPECTATIONS ▪ 2024 financial expectation 2023 ORGANIC SALES EVOLUTION Growth rate compared to 2022 ‒ Sales: flat organic evolution 25% 19.5% • Different evolution among divisions, 20% 16.1% 15% 10.6% different evolution among quarters 10% 8.6% 8.7% ‒ Profitabilit
Slide 17: 4Q-2023 Results
3Q-3Q2023YTD 4Q-2023 RESULTS ▪ INTERPUMP – GROUP OVERVIEW ▪ 4Q-2023 PRELIMINARY FINANCIAL RESULTS 16
Slide 18: 4Q-2023 Results: A Delivering Group
3Q-3Q2023YTD 4Q-2023 RESULTS A DELIVERING GROUP ▪ 2023 achievements 2010-23 GROUP EBITDA MARGIN EVOLUTION ‒ Financials 29.0% • Sales, high-single digit organic growth: 6.9% (1) 27.0% 24% • Profitability, a new record: 24% (2) 25.0% 22.9% 22.6% 23.2% 22.7% 23.7% 23.7% 23.0% 21.5% • FCF, almost 3x: €
Slide 19: 2010-23 Group Sales, EBITDA and Net Profit Evolution
3Q-3Q2023YTD 4Q-2023 RESULTS A DELIVERING GROUP 2010-23 GROUP SALES EVOLUTION 2010-23 GROUP NET PROFIT EVOLUTION (2) € 2.241m C.A.G.R.: +13.6% C.A.G.R. organic: +9.1% € 274m C.A.G.R.: +19.7% € 425m € 26m 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2010 2011 2012 2013 2014 2
Slide 20: Group – Delivering Excellence and Cash Generation
3Q-3Q2023YTD 4Q-2023 RESULTS GROUP – DELIVERING EXCELLENCE AND CASH GENERATION ▪ 2023 – Sales: diversification drove to strong organic growth for the 3rd year in a row minimising normalisation trend – Profitability: excellent execution drove to the best EBITDA margin ever – NFP: successful balance b
Slide 21: Results Divisions – Less Effectiveness in 4Q
RESULTS DIVISIONS – LESS EFFECTIVENESS IN 4Q COMPARED TO 2023 3Q-3QYTD2023 4Q-2023 ▪ Hydraulics – Group capability to effectively adjust cost impacted in 4Q by sales normalisation trend sudden acceleration ▪ Water-Jetting – Business “late-cycle” nature constantly enhanced by “complete solution” prod
Slide 22: Sales – Diversification Mitigates Normalisation
RESULTS SALES – DIVERSIFICATION MITIGATES NORMALISATION 3Q-3Q2023YTD 4Q-2023 ▪ 4Q2023: acquisitions in Water Jetting almost balanced normalisation impact acceleration in Hydraulics – In 4Q2022 sales grew organically by 14% driven by a +17.8% of Hydraulics ▪ 2023: evolution consistent with division n
Slide 23: Sales – Diversification Mitigates Normalisation by Division
3Q-3Q2023YTD 4Q-2023 RESULTS SALES – DIVERSIFICATION MITIGATES NORMALISATION 4Q2023 SALES EVOLUTION 2023 SALES EVOLUTION -7.0% +6.0% +5.9% +1.6% -1.5% € 1.634m HYDRAULICS € 1.542m € 393m -6.0% +0.6% -1.5% € 365m +10.0% +12.9% +5.6% -2.4% € 606m WATER-JETTING +9.7% € 536m +9.7% -3.4% € 153m € 140m +3
Slide 24: EBITDA – Group Historical Record
RESULTS EBITDA – GROUP HISTORICAL RECORD 3Q-3QYTD2023 4Q-2023 ▪ 2023 profitability: 24.0%, Group historical best result 2010-23 GROUP EBITDA MARGIN EVOLUTION ‒ Flexible cost structure and business model 29.0% • COGS, Labour cost and “Other Industrial Costs” 27.0% are around 90% of Group cost base 25
Slide 25: NFP – Balancing Cash Improvement and Growth
3Q-3Q2023YTD 4Q-2023 RESULTS NFP – BALANCING CASH IMPROVEMENT AND GROWTH NFP EVOLUTION (1) ▪ NFP was € 486m compared to € 542m of December 2022(1) (€ m) ▪ 2023 the 2nd best year of Group history of FCF generation: € 542m € 148m FCF almost 3x, from € 51m to € 148m € 35m € 2m € 1m 0 € 486m – TWC (2) :
Slide 26: NFP – TWC Normalisation Ongoing
3Q-3Q2023YTD 4Q-2023 RESULTS NFP – TWC – NORMALISATION ONGOING TRADE WORKING 2019-2023 EVOLUTION ▪ TWC normalisation ongoing, from 39.5% to 38.2% (€ m - % on Net Sales) 2021-22 Average organic sales growth: +17.2% 50% 39.5% 38.2% ▪ 2021-22 peak driven by 38.0% 800 – White acquisition 36.8% 36.6% – E
Slide 27: NFP – 2021-23 Post COVID Capex Plan
3Q-3Q2023YTD 4Q-2023 RESULTS NFP – 2021-23 «POST COVID» CAPEX PLAN ▪ Group 2021-23 “Post COVID” CAPEX plan targets – “Best in class” factories – Increase production capacity – Improve production efficiency ▪ CAPEX spread among both divisions, all geographies and all most important Group companies –
Slide 28: Post COVID Capex Plan – Targets
3Q-3Q2023YTD 4Q-2023 RESULTS NFP – 2021-23 «POST COVID» CAPEX PLAN – TARGETS HYDRAULICS • IMM Hydraulics, Italy and Romania(1) • Muncie, U.S.A. «BEST IN CLASS» FACTORIES • Walvoil, Italy • Energy efficiency, material management and WATER JETTING manufacturing process flow • Inoxpa, France and Portug
Slide 29: Post COVID Capex Plan – Details
3Q-3Q2023YTD 4Q-2023 RESULTS NFP – 2021-23 «POST COVID» CAPEX PLAN – DETAILS ▪ Different allocation among divisions according to different business capital intensity ▪ 2 phases – 2021-22: real estate investments to support a long term industrial approach assuring independence and flexibility – 2022-
Slide 30: Post COVID Capex Plan – Normalisation
3Q-3Q2023YTD 4Q-2023 RESULTS NFP – 2021-23 «POST COVID» CAPEX PLAN – NORMALISATION ▪ Group historical CAPEX intensity consistent with – different divisions investment requirements – ongoing innovation path from a product, process and a production point of view – M&A strategy ▪ 2021-23 extraordinary
Slide 31: Acquisitions – Diversification Enhancement
3Q-3Q2023YTD 4Q-2023 RESULTS NFP – ACQUISITIONS – DIVERSIFICATION ENHANCEMENT ▪ 3 acquisitions to support Group strategic growth path ▪ Hydraulics: Mouldtech ‒ Important step to mitigate supply chain risk, cast iron is a fundamental raw material for “valves” division ‒ From supplier of Walvoil India
Slide 32: Acquisitions – Diversification Enhancement
3Q-3Q2023YTD 4Q-2023 RESULTS NFP – ACQUISITIONS – DIVERSIFICATION ENHANCEMENT ▪ In the enlarged Flow Handling division integration 2022-23 I.MEC EBITDA MARGIN 50% (% on net sales) activities immediately started 45% 40% 35% ▪ I.Mec already plugged in 30% 25% 20% 15% ▪ For Waikato, new kind of activit
Slide 33: Acquisitions – White Integration Completed
3Q-3Q2023YTD 4Q-2023 RESULTS NFP – ACQUISITIONS – WHITE INTEGRATION COMPLETED ▪ White, the biggest and more complex acquisition in WHITE DRIVE INTEGRATION PLAN Group history 2021 STEPS 2022 STEPS 2023 STEPS 4 ex-Eaton production lines Carve out finalisation to be transferred and production capacity
Slide 34: ESG Path
3Q2023YTD ESG PATH ▪ INTERPUMP – GROUP OVERVIEW ▪ 4Q-2023 PRELIMINARY FINANCIAL RESULTS ▪ ESG PATH 33
Slide 35: ESG Path Concreteness
ESG PATH CONCRETENESS “A falling tree makes more noise than a growing forest” Lao Tzu 34
Slide 36: ESG Path – Three Priorities for Three Pillars
ESG PATH THREE PRIORITIES FOR THREE PILLARS SUPPORTED GRI 2023-2025 KEY TARGETS and SDG ▪ Definition of Group “Carbon neutrality” strategy 2023 E ▪ Reduction of Group “Carbon intensity” 2025 ▪ Increase of renewed electricity consumption 2025 305-1 and 2 302-1 ▪ Injury rate improvement 2024 S ▪ ESG s
Slide 37: ESG Path – A Delivering Group
ESG PATH A DELIVERING GROUP ▪ All 2023 ESG Plan actions delivered – Building Group ESG foundation ▪ Multi annual actions delivery duly on going – Leading to 2023 and 2050 decarbonisation target ▪ Group ESG methodological approach improvements – Higher number of Group companies included in the sample
Slide 38: 2023-2025 ESG Journey – 2023 Actions Updatings
ESG PATH A DELIVERING GROUP 2023-2025 ESG JOURNEY 2023 ACTIONS UPDATINGS E.1 Carbon neutrality strategy definition Board approval on 10 November 2023 E.4 Circular economy – Phase 1 Completed S.5 ESG supply chain evaluation model definition Completed G.1 Establishment of Board ESG Committee Appointme
Slide 39: ESG Path – A Delivering Group
ESG PATH A DELIVERING GROUP ANALYSIS AND MEASUREMENT BUILDING GROUP LEADING TO ESG FOUNDATIONS 2030 AND 2050 DECARBONISATION TARGETS 2022 2023 2024 2025 2027 • E.1 - Carbon neutrality strategy • E.2 - Carbon intensity reduction • E.4 - Circular economy (phase 1) • E.3 - Increase of renewable energy
Slide 40: Annex
ANNEX ▪• INTERPUMP DISCLAIMER – GROUP OVERVIEW • 4Q-2023 DETAILS ▪ 4Q-2023 PRELIMINARY FINANCIAL RESULTS • 2023 ESG ACTIONS ▪ ESG PATH ▪ ANNEX 39
Slide 41: Disclaimer
ANNEX DISCLAIMER 40
Slide 42: Disclaimer – Performance Indicators
ANNEX DISCLAIMER PERFORMANCE INDICATORS The Group uses several alternative measures that are not identified as accounting parameters in the framework of IFRS standards, to allow better evaluation of the trend of economic operations and the Group's financial position. Such indicators are also tools t
Slide 43: Disclaimer – Forward Looking Statements
ANNEX DISCLAIMER FORWARD LOOKING STATEMENTS This document has been prepared by Interpump Group S.p.A for aforesaid forward-looking statements. This document does not use during meetings with investors and financial analysts and is constitute an offer to sell or a solicitation to buy or subscribe to
Slide 44: 4Q-2023 Details
4Q-2023 DETAILS 43
Slide 45: Sales Breakdown – Group
ANNEXDETAILS 4Q-2023 SALES DETAILS – SALES BREAKDOWN – GROUP (1) GROUP 2023 sales: € 2.240m PACIFIC AREA: 11% OTHERS: 1% EARTH MOVING MACHINE: 8% GENERIC DEALERS: 16% CONSTRUCTION: 8% REST of THE WORLD: 9% CLEANING: 5% AGRICOLTURE: 10% GENERIC CONTRACTORS: 3% EUROPE: 52% OTHER INDUSTRIAL SECTOR: 8%
Slide 46: Sales Breakdown – Hydraulics
ANNEX 4Q-2023 RESULTS SALES DETAILS – SALES BREAKDOWN – HYDRAULIC (1) HYDRAULICS 2023 sales: € 1.634m PACIFIC AREA: 10% OTHERS: 1% EARTH MOVING MACHINE: 11% GENERIC DEALERS: 18% REST of THE WORLD: 9% CONSTRUCTION: 8% OTHER INDUSTRIAL SECTOR: 9% AGRICOLTURE: 14% F&B: 1% ENERGY&UTILITIES: 1% MINING: 1
Slide 47: Sales Breakdown – Water Jetting
4Q-2023 DETAILS SALES DETAILS – SALES BREAKDOWN – WATER JETTING (1) WATER JETTING 2023 sales: € 606m PACIFIC AREA: 13% OTHERS: 1% CONSTRUCTION: 8% GENERIC DEALERS: 11% ADAPTORS INDUSTRIAL VEHICLES: 4% AUTOMOTIVE: 4% REST of THE WORLD: 11% SHIPYARD-MARINE: 3% CLEANING: 17% OIL&GAS: 4% RAILWAY: 1% ENE
Slide 48: Sales Details – Organic Evolution
4Q-2023 DETAILS SALES DETAILS – ORGANIC EVOLUTION GROUP 2020-2023 ORGANIC GROWTH EVOLUTION by QUARTER 50.0% 39.4% 40.0% 2020: -12.6% - 2021: +20.1% - 2022: +13.7% - 2023: +6.9% 2020-23 Average: +7% 30.0% 17.9% 20.0% 15.7% 18.7% 14.2% 14% 10.0% 11.6% 12.5% 9.1% 12.6% 4% 0.0% 1Q20 2Q20 3Q20 4Q20 1Q21
Slide 49: ESG Path
ESG PATH Please (1) Pleaserefers referstotoGroup Groupweb website sitefor forspecific specificdocumentation documentationononthe thetopic topic(“2023 (“2023ESG ESGActions Overview”, Activities 12 January Overview”, 2024) 12 January 2024) 48
Slide 50: Climate Change
ESG PATH LEADING TO 2030-50 TARGETS E ▪ 3 main streams – Climate change – Product life cycle – Water efficiency ▪ Formalisation of Group “E” strategy and policies is the cornerstone ▪ Approximately € 10m of CAPEX and not material impact on Group G&A in the plan horizon – CAPEX: around 40% already in
Slide 51: Climate Change and Product Life Cycle
ESG PATH LEADING TO 2030-50 TARGETS E ACTION ID DESCRIPTION GRI and SDG KPI TIMING K.P.I. Carbon intensity reduction tCO2eq/€ (1) ▪ Focus on Scope 1 and 2 Base year: 2021 E.2 ▪ Main leverages: photovoltaic plants installation Target: -30% Target year: 2025 and renewable purchase energy agreement CLI
Slide 52: Water Efficiency
ESG PATH LEADING TO 2030-50 TARGETS E ACTION ID DESCRIPTION GRI and SDG KPI TIMING WATER EFFICIENCY Water monitoring system ▪ Phase 1: mapping of the installed water Base year: 2022 E.6 monitoring systems across the Group N.A. Target year: 2025 ▪ Phase 2: implementation of a continuous water 303-3 a
Slide 53: Health & Safety
ESG PATH EXPANDING THE SILENT GROWING FOREST S ▪ 4 main streams – Health & safety – People development – Responsible supply chain – Diversity & inclusion ▪ “Pilot projects” will be crucial to capitalise on already existing best practices at subsidiaries level – Walvoil for “ESG supply chain evaluati
Slide 54: Responsible People Development
ESG PATH EXPANDING THE SILENT GROWING FOREST S ACTION ID DESCRIPTION GRI and SDG KPI TIMING HEALTH & SAFETY K.P.I. % Group turnover ISO 45001 extension Base year: 2021 S.2 ▪ Focus on subsidiaries with manufacturing sites Target year: 2027 Base: 22% Target: 45% K.P.I. Increase of non-compulsory train
Slide 55: Responsible Supply Chain
ESG PATH EXPANDING THE SILENT GROWING FOREST S ACTION ID DESCRIPTION GRI and SDG KPI TIMING RESPONSABLE SUPPLY CHAIN ESG supply chain evaluation model extension ▪ First focus on Italy (100% of manufacturing Base year: 2023 S.6 N.A. subsidiaries) Target year: 2024 ▪ Feasibility study for a worldwide
Slide 56: ESG Cornerstone
ESG PATH BUILDING ESG FOUNDATIONS G ▪ 3 main streams – ESG as governance cornerstone – Spread of ESG principles, actions and results inside and outside the Group – Tax compliance consolidation in line with best practices ▪ “G” actions will follow the natural path of Group governance activities – Mos
Slide 57: ESG Principles-Actions-Results
ESG PATH BUILDING ESG FOUNDATIONS G ACTION ID DESCRIPTION GRI and SDG KPI TIMING ESG PRINCIPLES-ACTIONS-RESULTS Code of Ethics revision Base year: 2022 G.2 N.A. Target year: ▪ To reflect ESG principles in Code of Ethics 1H2023 SPREAD Succession plan formalization G.3 ▪ Succession plan formalization
Slide 58: ESG Principles-Actions-Results
ESG PATH BUILDING ESG FOUNDATIONS G ACTION ID DESCRIPTION GRI and SDG KPI TIMING ESG PRINCIPLES-ACTIONS- RESULTS SPREAD Base year: 2022 Updating on ESG journey G.6 N.A. Target year: ▪ Periodic updating on actions implementation annual 57
Slide 59: 2023 Actions – E.1 Decarbonisation Strategy
ESG PATH 2023 ACTIONS – E.1 DECARBONISATION STRATEGY E ▪ “2023-32 Decarbonisation Strategy” targets 2 goals 2025 REDUCTION TARGET(1) (tCO2e) – Achievement of Group 2025 Emission reduction target 100,000 90,000 – Enhancement of “2030 Emission reduction target” (1) 80,000 70,000 90.286 78.922 -13% roa
Slide 60: 2023 Actions – E.4 Circular Economy
ESG PATH 2023 ACTIONS – E.4 CIRCULAR ECONOMY E ▪ Circular Economy, phase 1 – Activities: waste assessment, potential by-products analysis and network with partners at regional level – Levers: pilot projects ▪ Waste assessment activities performed in 2023 allowed to finetune Group companies involved
Slide 61: 2023 Actions – S.5 ESG Supply Chain Evaluation Model
ESG PATH 2023 ACTIONS - S.5 ESG SUPPLY CHAIN EVALUATION MODEL S ▪ Another action to be delivered through pilot project – Walvoil the Group company involved – 2 steps • Updated suppliers’ evaluation model with environmental and social criteria • Initial focus on “material” suppliers 2022 Walvoil supp
Slide 62: 2023 Actions – G.1 ESG Board Committee Establishment
ESG PATH 2023 ACTIONS – G.1. ESG BOARD COMMITTEE ESTABLISHMENT G ▪ April 2023, new Group Board ‒ Sustainability Committee appointment, with Group CEO as a member ‒ Separation between Chairman and CEO role INTERPUMP GROUP BOARD Chairperson: F. Montipò Deputy Chairperson: G. Tamburi Chief Executive Of
Slide 63: 2023 Actions – G.2 New Ethics Code
ESG PATH 2023 ACTIONS – G.2 NEW ETHICS CODE G ▪ New Code of Ethics − To reflect Group Sustainability commitments undertaken with 2023-25 ESG Journey ▪ Sustainability commitments − E: sustainable growth and reduction of environmental impacts − S: human & labor rights protection and skills & knowledge
Slide 64: 2023 Actions – G.2 New Ethics Code
ANNEX ESG PATH 2023 ACTIONS – G.2 NEW ETHICS CODE G PREVIOUS CODE OF ETHICS UPDATED CODE OF ETHICS Stakeholders, i.e. those categories of individuals, groups or institutions whose contribution is required to achieve the mission of Interpump and who have significant interests gravitating around the c
Slide 65: 2023 Actions – G.3 Succession Plan Formalisation
ESG PATH 2023 ACTIONS - G.3 SUCCESSION PLAN FORMALISATION G ▪ Interpump Succession Plan − Protect Group organizational stability and continuity in case of temporary or lasting inability of “key managerial figures” ▪ Two interconnected processes IDENTIFICATION − Identification • Procedures to identif
Slide 66: 2023 Actions – G.6 Updating on ESG Journey
ESG PATH 2023 ACTIONS - G.6 UPDATING ON ESG JOURNEY G ▪ Improvement of communication transparency – 360° approach, not only ESG topics ▪ 2023-25 ESG Journey – Quarterly updating – Ad hoc presentations • Code of Ethics Updating, March 2023 • 2023-32 Decarbonisation Strategy, November 2023 – ESG secti
Slide 67: Mauro Barani
The Manager in charge of preparing the company’s financial reports declares - pursuant to paragraph 2 of Article 154-bis of the Consolidated Law on Finance - that the accounting information contained in this presentation corresponds to the document results, books and accounting records. S.Ilario d’E