Fine Foods & Pharmaceuticals N.t.m. Spa · MIL:FF
Fine Foods & Pharmaceuticals N.t.m. Spa — Q1 2023 Earnings Presentation
40 slides from Fine Foods & Pharmaceuticals N.t.m. Spa's earnings presentation, May 17, 2023
Slide 1: Q1 2023 Results Presentation
Q1 2023 Results Presentation 17/05/23
Slide 2: Disclaimer
FINE FOODS Q1 2023 2 RESULTS PRESENTATION Disclaimer This document has been prepared by Fine Foods & The information contained in this document, unless Pharmaceuticals N.T.M. S.p.A. for the sole purpose otherwise specified is only current as of the date of this described herein. The information here
Slide 3: Fine Foods: We create value
FINE FOODS Q1 2023 3 RESULTS PRESENTATION Fine Foods We create value
Slide 4: Fine Foods 2022 key figures and main trends
FINE FOODS Q1 2023 4 RESULTS PRESENTATION Fine Foods 206.9 €M Revenues in 2022 with ~10% CAGR over the last 87.3 €M increase in revenues over the last 5 years (+73%) 2022 key figures 10 years and main trends Three business units: Food, 64,800 sqm of covered area Pharma and Cosmetic (+200% over the l
Slide 5: Knowledge and technologies
FINE FOODS Q1 2023 5 RESULTS PRESENTATION Knowledge and → FOOD AND PHARMA o Bottles technologies o Jars o Blister o Sachet Cross-fertilized innovation by exploiting our expertise in different fields and leveraging best practices and technical know-how to offer new tablets, capsules, granules, powder
Slide 6: Selection of products
FINE FOODS Q1 2023 6 RESULTS PRESENTATION Selection of products o Pharmaceuticals (Pharma BU) o Nutraceuticals (Food BU) o Cosmetics (Cosmetic BU) ➝
Slide 7: Customers’ loyalty
FINE FOODS Q1 2023 7 RESULTS PRESENTATION 2020 2010 Customers’ 2000 loyalty Retained key clients acquired before 2000 with several new ones added afterwards, including those derived from our recent acquisitions in the cosmetic industry, which consolidated our high customer retention rate. Note: Sigm
Slide 8: Fast growing Nutraceutical European Market
FINE FOODS Q1 2023 8 RESULTS PRESENTATION Fast growing EUROPEAN NUTRACEUTICAL PRODUCTION* (€BN) Nutraceutical CAGR European Market 5.1% 69.3 5.7% CAGR CAGR The European Nutraceutical Market 59.7 ’19-’22 ’22-’25 has shown high, steady growth, 21.7 and is expected to maintain a 50.5 Vitamins & Dietary
Slide 9: Pharmaceutical European production
FINE FOODS Q1 2023 9 RESULTS PRESENTATION Pharmaceutical EUROPEAN PHARMACEUTICAL EUROPEAN CDMOs (PHARMA) PRODUCTION * 2020 MARKET VALUE ** European (€BN) production The European Pharmaceutical production is expected to continue its sound growth in coming 15% shows consistent years 23% non-cyclical C
Slide 10: Expanding in the fast-growing Cosmetic and Biocide market
FINE FOODS Q1 2023 10 RESULTS PRESENTATION Expanding in the EUROPEAN COSMETIC AND BIOCIDE MARKET * (€BN) fast-growing Cosmetic and The European Cosmetic and Biocide market is expected to accelerate growth in coming years Biocide market CAGR 5.6% 3.6% 126 *Source: Euromonitor International, Consumer
Slide 11: Consistently outperforming Reference Markets
FINE FOODS Q1 2023 11 RESULTS PRESENTATION Consistently Reference markets show high steady growth and resilience during recessions Fine Foods has substantially outgrown its reference end-markets in the last decade, outperforming with 2022 sales at 2.6X the 2012 level Reference European Vitamins & Di
Slide 12: Research & Development
FINE FOODS Q1 2023 12 RESULTS PRESENTATION Research & Development
Slide 13: R&D for efficient and high-quality product development
FINE FOODS Q1 2023 R&D 13 RESULTS PRESENTATION R&D for efficient and high-quality product development Thanks to different approaches OPPORTUNITY LAB INNOVATION LAB CUSTOMISATION LAB TRANSFER LAB to each customer’s requests Formulae databank Innovative products Exclusive and Efficient Technology ➝ Hu
Slide 14: Environmental Social & Governance
FINE FOODS Q1 2023 14 RESULTS PRESENTATION Environmental Social & Governance
Slide 15: Strong holistic ESG approach since foundation
FINE FOODS Q1 2023 ESG 15 RESULTS PRESENTATION PEOPLE Strong holistic ESG approach since foundation ETHICS & ENVIRONMENT GOVERNANCE AREAS OF ACTION SUPPLY SUSTAINABLE CHAIN PRODUCTS LOCAL DEVELOPMENT ➝
Slide 16: Corporate Governance
FINE FOODS Q1 2023 ESG 16 RESULTS PRESENTATION ➝ ETHICS AND GOVERNANCE Corporate → 3 women out of 7 Directors Governance → 3 Independent Directors out of 7 Our governance is structured → 2 Non-executive Directors out of 7 around an ESG responsible approach. It allows us to pursue a sustainable growt
Slide 17: Ratings, ESG commitment, Certifications
FINE FOODS Q1 2023 ESG 17 RESULTS PRESENTATION ➝ ETHICS AND GOVERNANCE Ratings Sedex Member since ESG commitment 2016 (Business Units Food) Certifications Organizational, managerial and control New membership to the models to prevent network of companies on Since 2021 crimes Diversity and Inclusion
Slide 18: Financials
FINE FOODS Q1 2023 18 RESULTS PRESENTATION Financials
Slide 19: Q1 2023 Consolidated Revenues
FINE FOODS Q1 2023 FINANCIALS 19 RESULTS PRESENTATION +29.2% 65.6 (€M) Q1 2023 Consolidated 50.8 Revenues Revenue Growth +14.8 €m vs Q1 2022: Q1 2022 Q1 2023 • Pharma BU +5 €m vs Q1 2022 Revenue break-down • Food BU +11.2 €m vs Q1 2022 PHARMA FOOD COSMETIC • Cosmetic BU -1.3 €m vs Q1 2022 +37.8% 40.
Slide 20: Q1 2023 EBITDA
FINE FOODS Q1 2023 FINANCIALS 20 RESULTS PRESENTATION Q1 2023 EBITDA (€M) EBITDA and EBITDA Margin strongly increased compared to Q1 2022 7.8% 12.1% EBITDA Margin Improvement in marginality mainly due to: • personnel cost impact reduction on +100.6% turnover • energy cost impact reduction on 7.9 tur
Slide 21: Q1 2023 Energy Impact on EBITDA
FINE FOODS Q1 2023 FINANCIALS 21 RESULTS PRESENTATION Q1 2023 Energy Impact (€M) on EBITDA 9.7% 13% EBITDA Margin Q1 2023 Energy costs at 1.2 €M with an incidence on revenues of 1.9% compared to 2.9% in Q1 2022 +73.4% Assuming the same Energy Cost incidence on Revenues in 9M 2021 – i.e. before the s
Slide 22: Q1 2023 EBIT
FINE FOODS Q1 2023 FINANCIALS 22 RESULTS PRESENTATION Q1 2023 EBIT (€M) Strong EBIT and EBIT Margin recovery following 0.8% 6.4% EBIT Margin EBITDA and EBITDA Margin increase +923.2% 4.2 0.4 Q1 2022 Q1 2023 ➝
Slide 23: Q1 2023 Energy Impact on EBIT
FINE FOODS Q1 2023 FINANCIALS 23 RESULTS PRESENTATION Q1 2023 Energy Impact (€M) on EBIT 2.7% 7.3% EBIT Margin Assuming the same Energy Cost incidence on Revenues in 9M 2021 – i.e. before the +248.1% strong price increase occurred starting from Q4 2021 – EBIT in Q1 2023 would be 4.8 7.3% (2.7% in Q1
Slide 24: Q1 2023 Net Income
FINE FOODS Q1 2023 FINANCIALS 24 RESULTS PRESENTATION Q1 2023 Net Income (€M) Q1 2023 Net Result turned positive -4.9% 4.4% Net Income Margin Net Income affected by: 1) Financial charges (-1.1 €M) increased compared to Q1 2022 due to higher interest rates 2) non-cash effects for fair value evaluatio
Slide 25: Solid Capital structure despite challenges
FINE FOODS Q1 2023 FINANCIALS 25 RESULTS PRESENTATION NET WORKING CAPITAL CAPEX AND INVESTMENTS (€M) (€M) Solid Capital NWC change was mainly generated by the increase in trade receivables and inventory Ordinary Capex at 4.7 €M in Q1 2023 (7.2% of revenues) structure partially compensated by the inc
Slide 26: Net Financial Position
FINE FOODS Q1 2023 FINANCIALS 26 RESULTS PRESENTATION MOST SIGNIFICANT CASH-IN AND CASH-OUT Net (€M) Financial NFP Net Amortization NFP NWC Others CAPEX Buy Back 31.12.2022 Income & Depreciation 31.03.2023 Position evolution from December 31, 2022 (43.6) to March 31, 2023 (51.5) 3.7 2.9 (12.6) 2.9 (
Slide 27: Shareholding Structure
FINE FOODS Q1 2023 27 RESULTS PRESENTATION Shareholding Structure
Slide 28: Shareholding Structure
FINE FOODS Q1 2023 SHAREHOLDING STRUCTURE 28 RESULTS PRESENTATION Shareholding Fine Foods Shares N. of Shares (Million) % FLOATING (ON LISTED SHARES) Structure Listed Shares Unlisted Shares* 22.1 3.5 86% 14% As of 15.05.2023 Total Equity Capital 25.6 100% % OF TOTAL EQUITY CAPITAL % OF VOTING RIGHTS
Slide 29: Fine Foods: Our way
FINE FOODS Q1 2023 29 RESULTS PRESENTATION Fine Foods Our way
Slide 30: Why Fine Foods?
FINE FOODS Q1 2023 30 RESULTS PRESENTATION o SOLID TRACK RECORDS Why Fine Foods? o HIGH AND STABLE o PHARMA, FOOD o STRONG CAGR IN THE AND COSMETIC FINANCIALS LAST 10 YRS UNIQUE PRESENCE o CRITICAL o HOLISTIC MASS SUSTAINABILITY o CROSS FUNCTIONAL SINCE 2010 INNOVATIVE R&D o ADVANCED HR MANAGEMENT o
Slide 31: Investor Information and Contacts
FINE FOODS Q1 2023 31 RESULTS PRESENTATION Investor Information and Contacts
Slide 32: Investor Information and Contacts
FINE FOODS Q1 2023 INVESTOR INFORMATION AND CONTACTS 32 RESULTS PRESENTATION Investor MARKET EURONEXT STAR MILAN Information and Contacts ISIN CODE IT0005215329 TICKER FF SPECIALIST BROKER BANCA AKROS S.p.A. CORPORATE BROKER INTERMONTE PARTNERS SIM S.p.A. IR@FINEFOODS.IT INVESTOR RELATIONS +39 035 4
Slide 33: Backup
FINE FOODS Q1 2023 33 RESULTS PRESENTATION Backup
Slide 34: Manufacturing plants geographical footprint
FINE FOODS Q1 2023 34 RESULTS PRESENTATION BERGAMO Manufacturing ◎ plants BREMBATE geographical footprint 1 ◎ ZINGONIA ◉ 2 3 TRENZANO MILAN ◎ ◉ HQ 4 1 Pharmaceuticals 2 Nutraceuticals 3 Cosmetics CREMOSANO 4 Cosmetics ➝
Slide 35: Plants: Brembate, Zingonia, Cremosano, Trenzano
FINE FOODS Q1 2023 35 RESULTS PRESENTATION ⦾Brembate ⦾Zingonia PHARMACEUTICAL NUTRACEUTICAL Plants 64.800 sqm of covered area COVERED AREA: COVERED AREA: on a Total area > TOTAL AREA: 126,100 sqm TOTAL AREA: 45,600 sqm ⦾Cremosano ⦾Trenzano COSMETIC COSMETIC COVERED AREA: COVERED AREA: TOTAL AREA: 9,
Slide 36: People
FINE FOODS Q1 2023 ESG 36 RESULTS PRESENTATION ➝ PEOPLE WE HIRE People ~ 8.000 applications/year WOMEN ~ 47% of managers SAFETY AT WORK o Management system for health We are fully ~ 42% top & senior managers and safety is internationally committed to ~ 43% of Board of Directors certified since 2014*
Slide 37: Environment
FINE FOODS Q1 2023 ESG 37 RESULTS PRESENTATION ➝ ENVIRONMENT Environment We are committed to sustainably use our resources and reduce our environmental impact. CLIMATE WATER CIRCULAR ENVIRONMENT RESOURCES ECONOMY PROTECTION o - 15% CO2 o Programs for o Programs for emissions * reduction of water red
Slide 38: Sustainable products
FINE FOODS Q1 2023 ESG 38 RESULTS PRESENTATION ➝ SUSTAINABLE PRODUCTS Sustainable Our production products ESG field services: • environmental labelling lines are certified to offer certified We are always researching, consultation biological and/or testing and offering products • Product carbon foot
Slide 39: Suppliers’ ESG management
FINE FOODS Q1 2023 ESG 39 RESULTS PRESENTATION ➝ SUPPLY CHAIN Suppliers’ ESG ENVIRONMENTAL AND SOCIAL ASSESSMENT OF OUR SUPPLIERS management value of purchases of raw materials and packaging from suppliers assessed by EcoVadis on ESG criteria value of purchases of raw materials and packaging from su
Slide 40: Relations with local communities
FINE FOODS Q1 2023 ESG 40 RESULTS PRESENTATION ➝ LOCAL DEVELOPMENT TRADE Relations SOCIAL RESPONSIBILITY ASSOCIATIONS with local >230 students involved in communities meetings on sustainability and orientation issues 10 students accepted for internships and school-to- work projects 6 study orientati
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