Comer Industries Spa · MIL:COM
Comer Industries Spa — Euronext Sustainability Week 2024
21 slides from Comer Industries Spa's conference presentation, Sep 11, 2024
Slide 1: Comer Industries Corporate Presentation
COMER INDUSTRIES CORPORATE PRESENTATION Milan – 11 September 2024 - Equity Story Comer Industries Proprietary & Confidential 1
Slide 2: Key Pillars
Overview COMER INDUSTRIES 2024 Key Pillars Sharpen strategic direction Lay foundation for continuous Unlock potential in market towards future growth excellence in performance capitalization - Equity Story Comer Industries Proprietary & Confidential 2 2
Slide 3: Solid financial performance through operational excellence and continuous growth
Overview COMER INDUSTRIES 2024 Solid financial performance through operational excellence and continuous growth 01 Solid financial performance 02 Continuously ambitious growth 03 Operational excellence Best in class product 04 development 05 Result-driven culture 06 H1 2024 Financial results - Equit
Slide 4: Successful transition: from a family-owned company to managerial excellence
1 | Solid financial performance COMER INDUSTRIES 2024 Successful transition: from a family-owned company to managerial excellence REVENUE EBITDA MARGIN 2023 €1.2 bn 16.7% 2ND GENERATION TAKES OVER 2017 €0.3 bn 8.7% 4
Slide 5: Profitable growth with continuous efficiency improvements and strategic development
1 | Solid financial performance COMER INDUSTRIES 2024 Profitable growth with continuous efficiency improvements and strategic development Amount in (€m) 16,7% 14,5% Cost effectiveness through efficient operations 12,3% 12,4% 11,3% 10,1% 1.238 1.224 8,7% 1.048 7,2% Growth at margins above industry av
Slide 6: High ability to generate value from M&A
1 | Solid financial performance COMER INDUSTRIES 2024 High ability to generate value from M&A Before After Acquisitions Y2020 Standalone companies Integration Y2023 Consolidated companies Revenues Revenues 1.224 ~ 800 Comer 11.1% Group Comer Industries 16.7% EBITDA-Margin1 EBITDA-Margin Walterscheid
Slide 7: Firepower available for further inorganic growth
2 | Continuously ambitious growth COMER INDUSTRIES 2024 Firepower available for further inorganic growth 2021 2022 ~ 400 mn available for next acquisition1 FUTURE TARGETS Existing business fields to increase market share New technologies Electric, electronic and hydraulic for the move towards system
Slide 8: High flexibility due to local production footprint in markets
2 | Continuously ambitious growth COMER INDUSTRIES 2024 High flexibility due to local production footprint in markets 14 Germany (3) + R&D centers Production facilities 9 USA (2) Italy (6) + R&D centers + R&D centers China (1) R&D centers India (1) 16-20 Delivery time weeks Brazil (1) Value proposit
Slide 9: Close to the customer to execute complex projects fast
3 | Operational Excellence COMER INDUSTRIES 2024 Close to the customer to execute complex projects fast Long-lasting Understanding Data and system Physical relationships customers integration proximity 9
Slide 10: High durability and reliability of products for heavy use purposes
4 | Best in class product development COMER INDUSTRIES 2024 High durability and reliability of products for heavy use purposes ~ 300 PPM1 ~ 10 years ~ 75 Complain rate Average Active patents (0.03%) product lifetime 1. Parts per million, customer requirements of 500-2,000 PPM 10
Slide 11: Customer advancement through co-development
4 | Best in class product development COMER INDUSTRIES 2024 Customer advancement through co-development ~ 15% ~ 70% < 2 years of products developed of products time to in co-development customized market High flexibility and short time to market Value creation beyond manufacturing Stable client rela
Slide 12: Comer Industries management enables strong bottom-line results with visionary outlook
5 | Result-driven culture COMER INDUSTRIES 2024 Comer Industries management enables strong bottom-line results with visionary outlook Driven by results when following growth opportunities Clear bottom-line focus in every decision made Excellent execution skills in pursuing full excellence with a “ca
Slide 13: H1 2024 Financial results
COMER INDUSTRIES 2024 6 | H1 2024 Financial results 13
Slide 14: Economic KPI's
6 | H1 2024 Financial Results COMER INDUSTRIES 2024 ECONOMIC KPI’s Market is declining but EBITDA has proven to resilient, taught close to historical highs ~17% REVENUES (€m) EBITDA (€m) (% on Revenue) 16.4% 17.0% 677 17.4% 17.2% 111 531 90 331 58 259 44 1 2 Q2 Q2 H1 H1 Q2 Q2 H1 H1 2023 2024 2023 20
Slide 15: Revenues by Sector
6 | H1 2024 Financial Results COMER INDUSTRIES 2024 Revenues by Sector The agricultural sector was affected by the reabsorption of demand that had peaked during the first half of 2023 The industrial sector recorded a positive performance, proving more resilient to the worsening macroeconomic environ
Slide 16: Revenues by Geography
6 | H1 2024 Financial Results COMER INDUSTRIES 2024 Revenues by Geography The European market, being the one most exposed to the agricultural sector, is the only market that performed worse in Q2 2024 than it did in Q1 2024, confirming that the downward trend is still in place for the region The Nor
Slide 17: EBITDA
6 | H1 2024 Financial Results COMER INDUSTRIES 2024 EBITDA EBITDA margin increases by +60bps, remaining near all-time highs in 17% area, despite lower sales Different performance in EBITDA margin among segments depends on different sales mix by product and region Amount in (€m) Amount in (€m) % Reve
Slide 18: Business Trend
6 | H1 2024 Financial Results COMER INDUSTRIES 2024 BUSINESS TREND (Revenues in €m) 21,2% 22,0% 17,0% 12,3% 11,0% (Q/Q Growth rate %) 2,7% (9,5%) (9,3%) (21,3%) (21,9%) 346 The market, after peaking in the business cycle in Q1 2023, is reabsorbing 331 312 322 304 299 excess demand and returning to i
Slide 19: Financial KPI's
6 | H1 2024 Financial Results COMER INDUSTRIES 2024 FINANCIAL KPI’s Although sales decreased, the Group's financial structure is still solid with ample flexibility for M&A NET FINANCIAL POSITION FREE CASH FLOW nfp 83 46 (95) (107) FY H1 H1 H1 2023 2024 2023 2024 Leverage 0.5x 0.6x ratio - 19 19
Slide 20: Industry Overview
6 | H1 2024 Financial Results COMER INDUSTRIES 2024 INDUSTRY OVERVIEW No sign of market stabilization, yet AGRICULTURE INDUSTRIAL CEMA BUSINESS BAROMETER MAY 2024 CECE BUSINESS CLIMATE JULY 2024 European Agricultural machinery industry Commettee for European Construction Equipment - 20 20
Slide 21: Thank You
COMER INDUSTRIES 2024 THANK YOU Contact: Alessandro Brizzi Investor Relator ir@comerindustries.com +39 3316685321 - 21 21