Cir S.p.a. - Compagnie Industriali Riunite · MIL:CIR
Cir S.p.a. - Compagnie Industriali Riunite — CIR S.p.A. - Compagnie Industriali Riunite — FY2024 Earnings Presentation
22 slides from Cir S.p.a. - Compagnie Industriali Riunite's earnings presentation, March 2025
Slide 1: FY2024 Results
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Slide 2: Executive Summary
CIR Group KOS Group Executive CIR Consolidated and ESG Summary Holding Results Sogefi strategy 2
Slide 3: Group structure and strategy
Group structure and strategy 59.8% F.lli De 43.2%(1) 60.1% Benedetti S.p.A. Private Equity & liquid assets Businesses Healthcare group specialized in Global automotive supplier of Liquid assets, Private Equity Long Term Care (Nursing Homes, suspensions, and air intake & Portfolio Rehabilitation, Psy
Slide 4: 2024 Highlights
2024 Highlights On May 31, 2024 Sogefi closed the sale of its Filtration division for € 331,2M and subsequently distributed a € 110M extraordinary dividend (see page 17 for further details) On June 6, 2024, CIR closed the sale of its remaining 5% stake in GEDI to EXOR Relevant events On June 2
Slide 5: CIR Group Consolidated Results
CIR Group KOS Group Executive CIR Consolidated and ESG Summary Holding Results Sogefi strategy 5
Slide 6: CIR Group Consolidated P&L main elements
CIR Group Consolidated P&L main elements Revenues 2023 2024 Var % KOS - Italy 531,0 547,2 3,1% 2023 2024 KOS - Germany 220,9 251,6 13,9% €/M KOS - total 751,9 798,8 6,2% Revenues 1.791,6 1.821,1 SOGEFI 1.039,7 1.022,3 -1,7% GROUP revenues 1.791,6 1.821,1 1,6% % change vs 2021 1,6% EBITDA 238,6 272,1
Slide 7: CIR Group Financial Indebtedness
CIR Group Financial Indebtedness NFP Excluding IFRS16 KOS: net debt stable after dividends; operating CF improving despite negative €/M 31 Dec 2023 31 Dec 2024 one-offs (-€ 7,6M related to the exit from Suzzara Hospital, mainly WC ) Sogefi: net debt reduction of € 191M thanks to operating CF (€
Slide 8: CIR Holding
CIR Group KOS Group Executive CIR Consolidated and ESG Summary Holding Results Sogefi strategy 8
Slide 9: CIR Holding: Buyback in 2024
CIR Holding: Buyback in 2024 In 2024 CIR S.p.A. bought back 166,9M own shares, for a total amount of € 99,6M and cancelled 191,1M treasury shares: In the period January to October, CIR S.p.A. bought back on the market 35,8M own shares (equal to 3,2% of share capital as of Jan 1st, 2024), for a tot
Slide 10: CIR Holding Balance Sheet
CIR Holding Balance Sheet Non-core investments 31 Dec 2023 31 Dec 2024 31 Dec Cash Fair value / 31 Dec €/M €/M 2023 New In other 2024 KOS 209,3 214,4 Private Equity 56,4 4,7 (9,2) 6,7 58,6 Sogefi 155,8 179,2 Other investments 8,1 (11,1) 3,5 0,5 Total operating companies 365,1 393,6 Diversified por
Slide 11: CIR Holding P&L
CIR Holding P&L 2023 2024 €/M Income from Fixed Income, Hedge Funds and Private Equity portfolios(3) Income from Financial Assets 5,3 30,5 CIR Holding(1) Recurring costs (10,2) (10,1) In 2024, includes extra costs due to the merger into CIR Investimenti; costs expected to decrease thereafter CIR Hol
Slide 12: KOS Group
CIR Group KOS Group Executive CIR Consolidated and ESG Summary Holding Results Sogefi strategy 12
Slide 13: KOS - a leader in LTC with a consistent growth track record
KOS - a leader in LTC with a consistent growth track record Greenfield pipeline: // (1) Rehabilitation +323 (2) & psychiatry (Italy) 13.518 13.753 13.777 32 facilities 13.151 12.686 N. 1 in 12.133 Italian LTC SHAREHOLDERS Long CIR (59.77%) Nursing F2i (40.23%) Term Homes (Italy) 59 facilities 8.
Slide 14: KOS - Summary of 2024 results and outlook
KOS - Summary of 2024 results and outlook €/M 2019 * 2023 2024 KOS 2024 results Revenues 517,1 751,9 798,8 Overall revenues increase by +6,2% vs 2023, +9,1% at constant perimeter (excluding LTC / Acute Italy vs 2019 8,4% 11,7% the Suzzara Hospital, whose concession expired in June 2024) EBITDA 119
Slide 15: KOS – Revenues and KPIs by segment
KOS – Revenues and KPIs by segment LTC Italy * NH Rehab Acute Care NH Germany 2019 2023 2024 2019 2023 2024 2019 2023 2024 2019 2023 2024 Numer of beds 5.835 6.531 6.611 2.147 2.427 2.407 184 184 184 3.844 4.488 4.575 % change vs 2019 11,9% 13,3% 13,0% 12,1% 16,8% 19,0% Occupancy - average 95,6% 87,
Slide 16: KOS – P&L by segment
KOS – P&L by segment Margins of LTC Italy further improving in 2024 , but still 2-3 p.p. below 2019, due to increase care personnel costs, only partially compensated by tariff increases so far In Germany profitability improved substantially but is still dragged by staff shortages, preventing a f
Slide 17: Sogefi - Closing of the sale of the Filtration division
Sogefi - Closing of the sale of the Filtration division On May 31, 2024 Sogefi completed the sale of its Filtration division US private equity fund Pacific Avenue Capital Partners Enterprise value of € 374 M; final Equity Value (net of post-closing adjustments) of € 327,5 M, based on: • customar
Slide 18: Sogefi – Summary of 2024 results and outlook
Sogefi – Summary of 2024 results and outlook €/M 2023 2024 Sogefi 2024 results In 2024 world car production deceased by 1,1% vs 2023, with Europe at - Revenues 1.039,7 1.022,3 6,1%, NAFTA -1,4%, China +3,8%, India at +3,9% and Mercosur at +2,7% EBITDA 107,8 125,3 Sogefi’s sales decreased by 1,7%
Slide 19: Sogefi – Performance by division
Sogefi – Performance by division Suspensions Air&Cooling Group 2019 2023 2024 2019 2023 2024 2019 2023 2024 Net sales 549,7 574,5 564,6 425,9 465,4 457,4 1.160,8 1.039,7 1.022,3 % change vs 2019 4,5% 2,7% 9,3% 7,4% -10,4% -11,9% % change vs 2023 -1,7% -1,7% -1,7% EBITDA Euro M 130,7 121,8 119,9 73,2
Slide 20: ESG and strategy
CIR Group KOS Group Executive CIR Consolidated and ESG Summary Holding Results Sogefi strategy 20
Slide 21: ESG plans and performance
ESG plans and performance 21 Further information on achievement of 2024 targets and ESG plans targets for 2025-27 are published in the Sustainability Statements of CIR, KOS and Sogefi
Slide 22: Disclaimer
Disclaimer This document has been prepared by CIR for information purposes only and for use in presentations of the Group’s results and strategies For further details on CIR and its Group, reference should be made to publicly available information, including the Annual and the Semi- Annual Repor
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