Industrie Chimiche Forestali Spa · MIL:ICF
Industrie Chimiche Forestali Spa — Investor Presentation (April 2021)
18 slides from Industrie Chimiche Forestali Spa's investor presentation, April 2021
Slide 1: We are invisible! But we are everywhere!
We are invisible! But we are everywhere! Industrie Chimiche Forestali S.p.A. Investor presentation April 2021
Slide 2: Disclaimer
2 Disclaimer This document has been prepared by Industrie Chimiche Forestali S.p.A. (“ICF”). This document does not constitute or form part of any offer or invitation to sell, or any solicitation to purchase any shares or any other kind of financial instruments issued or to be issued by ICF. Not all
Slide 3: Industrie Chimiche Forestali
3 Industrie Chimiche Forestali ICF is a leading player in the technical adhesive and fabric business with the mission to pursue organic expansion of its operations while acting as an aggregator of companies operating in complementary businesses exploiting the robust Free Cash Flow generation Why inv
Slide 4: Industrie Chimiche Forestali: a 100-year History
4 Industrie Chimiche Forestali: a 100-year History The production of Industrie Chimiche Forestali stops The production of special formaldehyde as a derivative producing basic chemicals and impregnated fabrics for the of pyroligneous begins finally focuses on the upstream footwear industry starts seg
Slide 5: The «Invisible Power»
5 The «Invisible Power» Counter Adhesives: The Toe puff • Solvent-based Upper Insole «Invisible Power» Footwear & • Solvent-free Sole Unit Leather • Water-based Technical fabric is used Technical fabric goes Adhesive is used Goods in the toe puffs and to reinforce the handle, to glue different Techn
Slide 6: Industrie Chimiche Forestali: a Leading Player in the Technical Adhesive World
6 Industrie Chimiche Forestali: a Leading Player in the Technical Adhesive World ICF in numbers(1) Manufacturing of Core activity adhesives and technical fabrics Revenues EBITDA EBITDA Margin NFP 2020 2020 2020 11.8% Footwear (2020) €3.2m Leather Goods €60.6m €7.1m 0.5x leverage on End market Automo
Slide 7: A Balanced Portfolio with a Global Exposure
7 A Balanced Portfolio with a Global Exposure The company is export-oriented, with a balanced exposure to the Automotive, Footwear and Packaging sectors Geographic Area Business Line ABC Division Forestali Division 44% 56% Africa Packaging America Middle 10% Footwear - 12% East 13% Adhesives East 22
Slide 8: From Italy to the rest of the world
8 From Italy to the rest of the world From the headquarter of Marcallo con Casone ICF reaches 80 countries all over the world Albania Czech Republic Hungary Portugal Sweden Austria Denmark Latvia Romania Switzerland Belarus Estonia Lithuania Russia Turkey Benelux France Macedonia Serbia UK Bulgaria
Slide 9: Expansion mainly based on Export
9 Expansion mainly based on Export Historically, sales have been growing at mid single digit since 2009 with export accounting for c. 66% EBITDA margin in the double-digit area in the last 7 years including 2020 despite the Covid-19 crisis 100 € million Marcello Taglietti 30% appointed as COO 90 Gui
Slide 10: Material Free Cash Flow Generation
10 Material Free Cash Flow Generation Cumulative Free Cash Flow Generation above €41.8m over the last 9 years 3.6 6.5 Adjusted Free Cash Flow 2.0 2.9 generation 8.9 41.8 6.3 5.4 3.4 2.7 2012 2013 2014 2015 2016 2017 2018 2019 2020 Total Comment Over the last 9 years, ICF generated a cumulated Free C
Slide 11: 2020 financial highlights ICF
11 2020 financial highlights ICF Revenues 20 Income Statement (€m) 2019 2020* 1 Revenues 71.7 60.6 YoY growth (%) -9.5% -15.4% 10 Gross margin 26.8 24.0 margin (%) 37.3% 39.6% 2 EBITDA 9.1 7.1 0 3 margin (%) 12.6% 11.8% Q1 Q2 Q3 Q4 EBITDA 3 1. 1 In 2020, ICF recorded around €60.6m in revenues. Volum
Slide 12: 2020 financial highlights ICF
12 2020 financial highlights ICF Income Statement (€m) 2019 2020* Revenues 71.7 60.6 YoY growth (%) -9.5% -15.4% Gross margin 26.8 24.0 margin (%) 37.3% 39.6% 1. 4 In 2020, ICF reported €3.3m of Net Income adjusted mainly for PPA EBITDA 9.1 7.1 amortization and one-off financial costs and fiscal ben
Slide 13: Recent events: COVID-19 crisis and new product lines
13 Recent events: COVID-19 crisis and new product lines Guido Cami, CEO and Chairman of Industrie Chimiche Forestali S.p.A., commented: “2020 was a year of exceptional conditions. Nonetheless, ICF has shown great resilience, achieving economic and financial results that have kept substantially uncha
Slide 14: Sustainability at ICF
14 Sustainability at ICF – www.investors.forestali.it/sostenibilità Sustainability and social and environmental issues have been part of ICF’s culture ever since 1998, when we joined the “Responsible Care” program, promoting the Sustainable Development of the Chemical Industry worldwide according to
Slide 15: ESG – Environment
15 ESG – Environment ICF’s commitment towards environmental issues goes beyond system certifications and includes its daily operations, its supply chain and its overall impact on the environment. The Company is in fact compliant with system certifications such as the ISO 9001, the ISO 14001, the OHS
Slide 16: ESG – Social and Governance
16 ESG – Social and Governance – www.investors.forestali.it Governance ICF governance model is investor friendly and quite unique among companies of similar size listed on the AIM segment of Borsa Italiana: • ICF is a public company with the market being the dominant ICF Board of Directors sharehold
Slide 17: Organizational Structure and Key Management
17 Organizational Structure and Key Management Organizational structure with 129(1) people coordinated …an experienced management by… Guido Cami Chief Executive Officer CEO • Graduated in Management Engineering at Politecnico di Milano Guido Cami • Vice-Chairman of AVISA – Federchimica (Confindustri
Slide 18: Industrie Chimiche Forestali S.p.A. contact
Industrie Chimiche Forestali S.p.A. www.forestali.it Headquarter in Marcallo con Casone Via Fratelli Kennedy, n. 75 Investor relations: Massimo Rancilio, CFO & Investor Relations Manager m.rancilio@forestali.it Please visit www.forestali.it/#ambiente to download your copy of ICF Environmental or Sus
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