Slide 1: Company update FY2019 - Virtual AIM Italia Conference 2020
company update FY2019 Virtual AIM Italia Conference 2020 where sky and sea meet. and beyond.
Slide 2: Disclaimer
disclaimer This document has been prepared by SOMEC S.p.A. (the ‘Company’) solely for the purposes of this presentation. This document may not be reproduced or distributed in whole or in part by any other person with any way than the Company. The Company takes no responsibility for the use of this d
Slide 3: Where sky and sea meet. And beyond.
where sky and sea meet. and beyond. Somec group brings together highly experienced companies specializing in engineering, design, and manufacturing of turnkey projects, marine or land-based: glass envelopes and façades, special architectural projects, public areas interiors, professional cooking equ
Slide 4: Shareholding & management
where sky and sea meet. and beyond. shareholding & management shareholding structure of Somec SpA Free float 24.97% Venezia S.p.A. 75.03% Oscar Gian Carlo Alessandro Marchetto Corazza Zanchetta shareholding structure of Venezia SpA Chairman and CEO Chief Operating Officer Chief Financial Officer of
Slide 5: Share information
where sky and sea meet. and beyond. share information share data IPO 14/05/18 - 22/05/2020 28.00 max ISIN: IT0005329815 IPO Value € 18.00 Value at 22 May 2020 € 17.85 N° of share 6,900,000 Capital raised on IPO € 31 mln Market cap at 22 May 2020 € 123.2 mln 18,00 IPO 14,90 min Use of Primary Support
Slide 6: Somec activities
where sky and sea meet. and beyond. somec activities Seascape Landscape marine marine marine building professional public areas glazing cooking public areas façades cooking interiors equipment equipment Design, engineering, Design,manufacture Design, supply and System engineering, Production of Turn
Slide 7: History
where sky and sea meet. and beyond. 251.4 history Revenues € million 165.5 87.0* Value of production* 75.8* € million 49.8* 30.7* 41.7* 1978 1993 2013 OIC 2014 OIC 2015 OIC 2016 OIC 2017 OIC 2018 IFRS 2019 IFRS 2020 Somec, founded Startup of Oscar Marchetto Acquisition Oxin Startup of Hysea IPO Acqu
Slide 8: The group
where sky and sea meet. and beyond. the group PE: Permanent establishment 8
Slide 9: Business segment Seascape / Landscape
where sky and sea meet. and beyond. business Marine glazing Building façades segment Marine cooking Professional equipment cooking equipment Marine interiors Interiors for public areas for public areas seascape landscape
Slide 10: Key highlights
where sky and sea meet. and beyond. key highlights €m – IAS/IFRS FY 2019 251.4 €m +52% 24.4 €m +28% 7.9 €m -4.3% 3,4% Revenues vs 2018 EBITDA vs 2018 Net Profit vs 2018 Net Profit margin 2019 2019 2019 2019 638 €m Backlog (31.12.2019) 2.5X Revenues 2018 48% 30 52% 33 63 €m Seascape 2020YTD Order Int
Slide 11: Looking beyond the horizon.
looking beyond the horizon.
Slide 12: Marine glazing
mus SCASCAPC Ing glaz marine 12
Slide 13: Marine cooking equipment
seascape marine cooking equipment 13
Slide 14: Marine public areas
seascape marine public areas 14
Slide 15: Building façades
landscape TWA New York, NY Gotham 1&3 Long Island City, NY building façades 325 Main Street Cambridge, MA Fan Pier Parcel E Boston, MA US DOT Volpe MIT Kendall Exchange Project Cambridge, MA Cambridge, MA 15
Slide 16: Professional cooking equipment
landscape professional cooking equipment Create a complete offer for the professional kitchen through acquisition To exploit the deep tech and electronic know-how to integrate products Illustrative market segmentation cook & chill For illustrative purpose only Company estimate 16
Slide 17: Interiors for public areas
landscape interiors for public areas Skillmax In March 2020, Somec has signed the agreement for the acquisition of a majority stake in Skillmax, local excellence in the turn-key contract solutions for luxury outfitting of boutiques, stores, hospitality and public areas The deal introduces Somec grou
Slide 18: Unique product offering
a story made by people. unique product offering Somec differentiates itself through the development of own systems and in-house manufacturing. The Somec model marks the difference from the major share of competitors that operate mostly as contractors, outsourcing products and services. 18
Slide 19: All in house
a story made by people. all in house project raw materials production & on site design and and semi- assembly installation management finished goods Involvement in each Synergies in the Quality control Support of the client project step procurement of glass Quick reply in case of in the field, maste
Slide 20: All in house
a story made by people. all in house Proximity and local production chain glass workshop steel workshop aluminium workshop wood workshop 20
Slide 21: All in house - headcount
a story made by people. all in house Headcount 766 31.12.2019 119 479 69 99 we follow we design, we manufacture each step we create engineer and install of the a profitable and innovate on site project business 9% 16% 63% PM, MKTG 13% R&D and Production & sales and Admin Engineering and installation
Slide 22: Globally near
globally near Group’s branches •• • Client’s yards Group’s companies 22
Slide 23: Main paths of growth
where sky and sea meet. and beyond. main paths of growth glazing cooking equipment public areas Building Glazing Cooking Focus on Far East Marine refitting Marine Cooking façades and façades Equipment Public Areas growing market - Equipment - – - - To exploit the - - Augmented bonding Exploitation C
Slide 24: Backlog analysis
where sky and sea meet. and beyond. backlog analysis 132 €m 211 €m 295 €m 638 €m Backlog (31.12.2019) Landscape 2020-2022 Seascape 2020-2021 Seascape 2022-2027 Backlog (31.12.2019) 20.6% breakdown building by business activities façades 52.3% marine 4.4% new building marine refitting 22.7% Seascape
Slide 25: R&D / Innovation
where sky and sea meet. and beyond. R&D / Innovation IQgalley Smart sustainable cooking open | close energy management The first step in a group platform to the serve cruise market and offer to the end-user even more comfort onboard 25
Slide 26: Seascape in Shanghai
seascape seascape in Shanghai The enlargement of the marine products portfolio offers the client a complete scope of solutions with a single reference The international expansion plan launched in 2018 is completed: the outcome of the inauguration of the new branch in China, on February 2019, came in
Slide 27: Building façades
landscape building façades The set up of a new plant (12.000 sqm) already operating has increased production capacity threefold The façades boutique: Fabbrica fits for the highly specialized design challenge and high-end projects Design in partnership with Squadra Srl is a value-accretive plus for t
Slide 28: Building façades
landscape building façades Squadra Srl, in Treviso, Italy, an engineering company specializing in the development of curtain wall systems for real estate and naval applications (participated by Somec and Fabbrica LLC) Fabbrica Works Srl, in Treviso Italy (owned by Fabbrica LLC) The investment in Fab
Slide 29: FY 2019 results
FY 2019 results
Slide 30: FY 2019 Key Messages
where sky and sea meet. and beyond. FY 2019 Key Messages • Backlog record at 638 €m +86 €m from the 1H2019 • Order intake +63 €m 31.12.19 -YTD • Seascape strategy deployment lead to increase turnover by 36%; growth in all the segments: Marine Glazing +8%, Marine Cooking Equipment +38% and Marine Pub
Slide 31: Key figures FY19
where sky and sea meet. and beyond. key figures FY19 €m - IAS/IFRS FY2019 revenues Seascape FY2019 turnover FY2019 turnover Seascape Landscape breakdown breakdown Landscape by geographic area* by business activities 4% 1% professional cooking Rest of world equipment 25% Italy +52% 92.0 44% 32% +91%
Slide 32: Income statement
Income statement Reclassified consolidated income statement 2019 % 2018 % Δ% In thousand of euro Revenue from contracts with customers 249,971 99.4% 164,304 99.3% 52.1% Other revenues and income 1,422 0.6% 1,237 0.7% 15.0% Total revenues 251,393 100.0% 165,541 100.0% 51.9% Materials, services and ot
Slide 33: Balance sheet
Balance sheet Reclassified consolidated balance sheet 31/12/19 31/12/18 In thousand of euro Intangible assets 57,981 39,684 of which Goodwill 28,484 17,186 Tangible assets 12,193 7,948 Right-of-use assets 18,693 9,069 Investment in an associate and joint venture 83 (0) Non-current financial assets -
Slide 34: Net Financial Position
Net Financial Position Net financial position 31/12/19 31/12/18 In thousand of euro Bank deposits 29,399 24,921 Cash and cash equivalents 29 13 Total liquidity 29,428 24,934 Current financial receivables 1 1,250 Current bank debt (20,059) (9,563) Current portion of bank loans and credit facilities (
Slide 35: Cash flow statement
Cash flow statement Cash Flow statement 2019 2018 In thousand of euro Cash flows from operating activities 5,296 30,980 Cash flows from investing activities (13,879) (3,113) Free Cash Flow (8,582) 27,867 Cash flows from financing activities 13,229 (8,545) Effect of exchange rate changes on cash and
Slide 36: Contacts
where sky and sea meet. and beyond. contacts Investor Relations Office Phone:+39 0438 471998 Email: ir@somecgroup.com