Italian Wine Brands S.p.a. · MIL:IWB
Italian Wine Brands — H1 2018 Earnings Presentation
13 slides from Italian Wine Brands's earnings presentation, October 2018
Slide 1: Interim results six months ended 30 June 2018
Interim results six months ended 30 June 2018
Slide 2: Results Headlines
RESULTS HEADLINES ——«o— 06/2018 06/2017 06/2016 06/2015 + Reported Sales Eur 69.94 M Eur 68.99 M Eur 64.59 M Eur 64.38 M + Restated Ebitda Eur 6.12M Eur 6.30 M Eur 4.01 M Eur 4.04 M + Restated Ebit Eur 4.38 M Eur 4.70 M Eur 2,34 M Eur 2.21 M + Restated net profit Eur 2.76 M Eur 2.84 M Eur 1.26 M Eur
Slide 3: Market Challenge
MARKET CHALLENGE • Western markets have reached saturation point and consumer behaviour is changing; • Healthy trends may hit alcohol consumption; • The domestic market keeps suffering from a decrease in consumption; • Shift of purchases through channels
Slide 4: Opportunities
OPPORTUNITIES • Asia and other countries are increasing consumption; • Russia may have a come back; • Trend of premiumisation of the beverage categories; • We only cover a limited number of countries and a limited number of accounts;
Slide 5: Strategy
STRATEGY • Territorial expansion of sales; • Launch of new brands to target new consumers; • Focus on premiumisation & scale; • New product categories through channels; • M&A BUILDING GROWTH SHAREHOLDER VALUE
Slide 6: Our Vision
OUR VISION IWB will be the leading Italian beverage company in the world. WINE SPIRITS BEER
Slide 7: This is what we have to do. This is what we can do. This is what we want to do.
This is what we have to do. This is what we can do. This is what we want to do.
Slide 8: 1h 2018 Figures
1h 2018 Figures We deliver solid results thanks to a continuing development of top line combined with operating expenses control. This action allowed for a complete absorption of one-off raw material costs peak and for a structural increase of operating margins going forward. We strive to improve or
Slide 9: 1h 2018 - Results Highlights
1h 2018 - RESULTS HIGHLIGHTS • Net Sales of € 69.64 millions (+ 1.38% yoy) compared with net sales of € 68.99 millions in 1h 2017 • Non domestic revenues 77.5% on total (from 74.0%) • Wholesale division revenues +15.79% yoy (€ 35.20 millions, > 50% on total) • Distance selling revenues -9,07% yoy (€
Slide 10: 1h 2018 – Restated P&L
1h 2018 – RESTATED P&L Figures in € / 000 30.06.2018 30.06.2017 30.06.2016 ∆ % 17/18 Cagr 16/18 Total Revenues 70.353 70.526 66.955 (0,25%) 2,51% Raw Material (40.162) (36.996) (35.597) 8,56% 6,22% % on Total Revenues -57,09% -52,46% -53,17% Services (19.816) (22.542) (20.016) (12,09%) (0,50%) % on
Slide 11: 1h 2018 – Net Sales
1h 2018 – NET SALES Figures in € / 000 30.06.2018 30.06.2017 30.06.2016 ∆ % 17/18 Cagr 16/18 Domestic Sales 15.750 17.952 18.112 (12,27%) (6,75%) Non Domestic Sales 53.840 50.638 45.674 6,32% 8,57% Germany 14.705 14.356 14.090 2,43% 2,16% Switzerland 12.680 11.344 10.617 11,78% 9,29% Austria 6.861 6
Slide 12: 1h 2018 – Balance Sheet / Cash Flows
1h 2018 – BALANCE SHEET / CASH FLOWS Figures in Eur / 000 06.30.2018 06.30.2017 06.30.2016 Net Fixed Assets 91.363 87.870 88.083 Intangible assets net of deferred taxes 78.037 76.074 75.081 Tangible assets 15.238 14.777 16.076 Low Capex Requirement Provisions (1.061) (1.982) (1.976) TFR (851) (999)
Slide 13: Securities
Securities Nr 7,402,077 IWB Ordinary Shares All warrants have been already converted AIM ITALIA MAC – ISIN CODE IT0005075764