Marzocchi Pompe S.p.a. · MIL:MARP
Marzocchi Pompe — FY2024 Earnings Presentation
46 slides from Marzocchi Pompe's earnings presentation, Apr 2, 2025
Slide 1: 2024 Results Presentation
2024 RESULTS PRESENTATION 2 April 2025
Slide 2: Disclaimer
Disclaimer Privacy The document, drafted by the management of Marzocchi Pompe S.p.A., is strictly confidential, therefore none of its contents may be shared with third parties or used for purposes different from those specified in it. Furthermore, this Document shall not be copied or reproduced with
Slide 3: Agenda
Agenda Company at a Glance 2024 Results & Outlook Achievements Sustainability Market & Competitive Positioning Appendix Business Overview 3
Slide 4: Marzocchi Pompe at a glance: world leader in top-performing products
Marzocchi Pompe at a glance: world leader in top-performing products Marzocchi Pompe is a leading world player in the design, production and marketing of high-performance external gear pumps and Company motors, which are used in sectors like: industrial (textile machines, machine tools, plastic inje
Slide 5: Shareholders & Management: full alignment of interest
Shareholders & Management: full alignment of interest TOP MANAGEMENT BOARD OF DIRECTORS SHAREHOLDERS Paolo MARZOCCHI Paolo MARZOCCHI Main Shareholder, Executive Chairman Executive Chairman Free Float 27,10% Carlo MARZOCCHI TABACCHI Deputy Chairman Gabriele BONFIGLIOLI CEO Franco ROSSI Abbey Road S.r
Slide 6: 2024 Results
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Slide 7: 2024: Marzocchi is pursuing its growth path in very challenging markets
2024: Marzocchi is pursuing its growth path in very challenging markets MARKET SCENARIO MARZOCCHI POMPE ANSWER • GLOBAL RECESSION • New product launches i.e. ELIKA Actions Modular Pumps & focus on co-design • Customers’ need for competitive • Scouting New Markets & partecipation & customized product
Slide 8: 2024 Results: resilient sales & profitability in very tough markets
2024 Results: resilient sales & profitability in very tough markets NET SALES FELL TO € 40 MLN (-19.5%), DUE TO THE GLOBAL INDUSTRY SLOWDOWN THE CORE BUSINESS SALES WERE € 34 MLN IN 2024, -13.9% ABOVE THE INDUSTRY AVERAGE DECREASE SHOWING MARZOCCHI POMPE RESILIENCE IN THE GENERAL SLOWDOWN OF THE G
Slide 9: Revenues at € 40 mln, EBITDA margin at 9.45%
Revenues at € 40 mln, EBITDA margin at 9.45% Sales Revenue and EBITDA (€m) • Revenues stood at € 40 million in 2024, down 50 49,7 19.5% vs. 2023, the year in which Marzocchi Pompe reached the all-time high of € 49.7 40 million. This decline was linked to the general 40 16.4%. slowdown in the Europea
Slide 10: Core Business at 85% of total revenues
Core Business at 85% of total revenues (from 79.5% in 2023) Revenue Breakdown • Revenues by Core market segments (Sales Network, Industrial and Mobile) accounted for 85% of Total Revenues, reaching € 34 million (- 23,3% 13.9% vs. 2023), thanks to Marzocchi Pompe 28,4% distinctive capability to serve
Slide 11: Resilient Profitability: EBIT and Net Profit
Resilient Profitability: EBIT and Net Profit EBIT Adjusted and Net Profit (€m) • EBIT decreased by 78% to € 1.0 million, from the peak of € 4.5 million in 2023, 5,5 5,1 despite Marzocchi Pompe ongoing efforts to 4,5 improve operating efficiency • Adjusted EBIT, calculated net of 3,5 3,0 revaluation
Slide 12: Net Financial Position proves once again Marzocchi financial solidity
Net Financial Position proves once again Marzocchi financial solidity Adjusted Net Financial Position Evolution (€m) • Net Financial Position amounted to € 11,5 5,0 2,7 million at end-2024 vs. € 8.3 million at 3,0 2,2 end-2023 1,0 0,3 • More important Adjusted NFP (€ 5.8 (1,0) million) was down 17%
Slide 13: Achievements
Achievements
Slide 14: New ELIKA Modular upgrades Marzocchi top-performing pump
New ELIKA “Modular” upgrades Marzocchi top-performing pump IN 2019 THE NEW ELIKA DEPARTMENT WAS COMPLETED THROUGH AN INVESTMENT OF MORE THAN 1 MILLION €S IN THE PRODUCTION SITE OF CASALECCHIO (BO) COVERED BY TWO PATENTS, ELIKA IS MARZOCCHI POMPE FLAGSHIP PRODUCT CHARACTERIZED BY LOW NOISE & HIGH
Slide 15: New Warehouse in Zola Predosa to improve and widen logistic flows
New Warehouse in Zola Predosa to improve and widen logistic flows ENLARGEMENT & RATIONALIZATION OF PRODUCTION CAPACITY AND LOGISTICS IN ZOLA PREDOSA PLANT IN OCTOBER 2022 MARZOCCHI POMPE PURCHASED AN INDUSTRIAL PROPERTY OF APPROX. 4,800 SQUARE METRES, OF WHICH APPROX. 1,800 COVERED, NEXT TO THE ZO
Slide 16: New Plant with Photovoltaic Panels to combine ESG with cost savings
New Plant with Photovoltaic Panels to combine ESG with cost savings INSTALLATION OF PHOTOVOLTAIC PANELS ON THE ZOLA PREDOSA PLANT TO ENHANCE MARZOCCHI’S “GREEN” VOCATION AT THE SAME TIME REDUCING CONSISTENLY ENERGY COSTS IN OCTOBER MARZOCCHI POMPE COMPLETED THE INSTALLATION OF PHOTOVOLTAIC SYSTEM
Slide 17: Marzocchi joined main global industry events scouting new markets
Marzocchi joined main global industry events scouting new markets… 2024 Leitmotiv: by land, sea and sky and brand new experiences AERO EXPO FRIEDRICHSHAFEN– 17.04.2024 NEW Aerospace Exhibition - Hall B3, Booth 110 SMM BOAT SHOW HAMBURG – 03.09.2024 NEW Marine Exhibition – Hall B3.OG, Booth 237
Slide 18: After presenting to world leading trade fairs in 2023
… after presenting to world leading trade fairs in 2023 (taking place every 2 years) Bauma ConExpo India – 31.01.2023 NEW Mobile Exhibition - Hall 10, Booth L102 IFPE ConExpo Las Vegas – 13.03.2023 World Mobile Exhibition – South Hall, Booth 81745 Hannover Messe – 17.04.2023 World Fluid Power
Slide 19: 2025 – A good mix of Traditional and New
2025 – A good mix of Traditional and New AGRITEK KAZAKHSTAN ASTANA – 12.03.2025 Agricultural Exhibition- Main Hall, Booth 717 NEW BAUMA MUENCHEN – 07.04.2025 Mobile Exhibition – Hall A4, Booth 414 IVT OFF-HIGHWAY EXPO CHICAGO– 20.08.2024 NEW Mobile Exhibition – Main Hall, Booth 248 POWER TRANSMISS
Slide 20: 2024 Highlights & Outlook
2024 Highlights & Outlook 2024 WAS A VERY TOUGH YEAR FOR MARZOCCHI POMPE THAT REPORTED RESILIENT RESULTS BOTH IN TERMS OF SALES AND PROFIT MARGINS, DESPITE RECESSIONARY MARKETS ON A GLOBAL BASIS THE COMPANY SHOWED THE STRENGTH OF ITS BUSINESS MODEL AND ITS CAPABILITY TO COUPLE OPERATING FLEXIBIL
Slide 21: Sustainability
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Slide 22: ESG Achievements confirm strong commitment towards Sustainability
ESG Achievements confirm strong commitment towards Sustainability • First Sustainability Report in 2024 – Marzocchi has carried out an in-depth process of analysis that led to publication of its first Sustainability Report for 2024, an effort that further strenghtens its commitment to enhance value
Slide 23: ESG Achievements: Strong commitment towards Sustainability
ESG Achievements: Strong commitment towards Sustainability (2/2) New «Green» Projects in 2023-2024 • Treedom Forest – In February 2023 Marzocchi launched the creation of the “Marzocchi Pompe Forest”, giving away the first 300 trees to its employees • This project will not only bring a contribution t
Slide 24: A brand new Security Operation Center
A brand new Security Operation Center • In March 2022 Marzocchi Pompe, in partnership with Yarix, finalized a C SOC + Cynet project • Marzocchi’s Cognitive Security Information Center C SOC will operate the: o H24x7x365 monitoring of company networks o Physical and Biometric Security of last generat
Slide 25: Market & Competitive Positioning
Market & Competitive Positioning
Slide 26: Fluid Power market and growth forecasts
Fluid Power market and growth forecasts The Fluid Power market is made up by the hydraulic segment and the pneumatic segment. In Asia, Europe and USA the Fluid Power home1 market went from € 25.7 billion in 2000, to € 41.5 billion in 2020 and to 47.3 billion in 2021 of which € 34.2 billion (72%) ste
Slide 27: Focus on hydraulic pumps' market
Focus on hydraulic pumps’ market Within the Hydraulic home1 market, the pumps’ segment is estimated by ISC to be around 5.7 billion (17%) in 2021 (Vs € 4.9 billion in 2020), of which € 3.7 billion (11%) coming from the reciprocating pumps’ segment (axial and radial piston pumps) and € 2 billion (6%)
Slide 28: Competitive positioning
Competitive positioning Characteristic Quality & Customer Gear Pumps Fluid Power Competitiveness Quality Range Customization vs Price vs Price Company Performance service Range Marzocchi Pompe Bosch Rexroth Bucher Casappa Concentric Galtech/Interpump Hema / DB HPI / JTech Parker Roquet Salami Turoll
Slide 29: Product Quality & Performance
Leadership in external gear pumps market + Product Quality & Performance Source: Marzocchi Pompe SpA management estimates - - Product Customization/ Customer service + 29
Slide 30: Appendix • Business Overview
Appendix • Business Overview
Slide 31: MP core business: manufacturing of external gear pumps and motors
MP core business: manufacturing of external gear pumps and motors • The pumps have the function of transferring the fluid from a tank to an actuator within an oil-hydraulic circuit. (for example, a cylinder that drives the shovel of an excavator). This transfer from the suction circuit to the delive
Slide 32: Overview of pump composition and application examples
Overview of pump composition and application examples The pumps are composed of the following main parts: body, flange, cover and bushings in aluminium, and gears (driving and driven wheel) in steel. For some types of products, the flange and the cover can be made out of cast iron. Further component
Slide 33: Product applications
Product applications Medical equipment Gardening machines Actuators for surgical tables, diagnostic equipment, latest- In this type of application it is essential that oil-hydraulic generation stretchers, dental chairs: in general, for small pumps and motors guarantee the complete absence of medical
Slide 34: Technological innovation and quality standards
Technological innovation and quality standards The Group's business model is focused on the design, production and marketing of high-performance external gear pumps and motors. The Company manufactures almost all the main components within its own production sites and uses the historical brand “Marz
Slide 35: Target markets
Target markets Core market revenues include Industrial and Mobile machines applications and represent 85% of total 2024 revenues, including sales to distributors/sales network, which alone contribute to 36.2% of MP’s total sales(*) FLUID POWER Core Automotive Industrial Mobile Machines Possible appl
Slide 36: Main client composition
Main client composition • The company benefits from a diversified client base for the Industrial and Mobile machine sectors, having their top 3 clients making up only 8.5% of sales and the top 10 representing 22.0%. The Automotive sector, on the other hand, has fewer clients making up for most of it
Slide 37: Global distribution network
Global distribution network Marzocchi Pompe relies on an international distribution network present in over 50 countries. Products are distributed through various channels, such as direct sales, distributors, sales1, American branch operations and Chinese branch operations Distribution network’s hig
Slide 38: Investment highlights
Investment highlights • The Hydraulic market is large, estimated to be around 10.3 billion in 2021 in Europe (Source: CETOP) and € Large target market 1.6 billion in 2021 in Italy (Source: Assofluid) experiencing growth • Evidence of upward trend of Italian hydraulic market in the 2009-2018 period,
Slide 39: Organizational structure and production sites
Organizational structure and production sites • Marzocchi Pompe can count on a team of professionals with consolidated experience. As of 31st of December 2024 the workforce consists of 256 resources, with an heterogeneous background of professional skills that strengthens the efficiency of the work
Slide 40: History
History Main operative milestones Start-up of large-scale production On 16th July 2019 In November 2020, Construction of a of the Elika pump, an innovative listing on the AIM set-up of the joint- production unit in product with low noise and high market, opening the venture "Marzocchi Ostellato (FE)
Slide 41: Consolidated Profit & Loss
Consolidated Profit & Loss Eur 000 31-Dec-24 31-Dec-23 Sales Revenue 40,038 49,746 100% 100% WIP changes (1,559) (367) Other revenue 1,011 1,142 PRODUCTION VALUE 39,490 50,521 Raw materials consumption (8,854) (23.0%) (12,325) (25.0%) Service costs (10,727) (27.9%) (13,348) (27.0%) Costs for use of
Slide 42: Consolidated Balance Sheet
Consolidated Balance Sheet Eur 000 31-Dec-24 31-Dec-23 A) NET FIXED ASSETS 17,407 16,837 Intangible fixed assets 592 852 Tangible fixed assets 15,982 15,156 Financial fixed assets 833 828 B) NET WORKING CAPITAL 16,984 15,725 Inventories 9,963 12,794 Advances from customers (171) (65) Trade receivabl
Slide 43: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement €/000 2024 2023 Operating profit [EBIT] 968 4,458 Tax effect (78) (710) Change in funds 57 (678) Provisions and write-downs 2,667 3,643 Income cash flow 3,614 6,713 Changes in working capital Inventories 2,831 1,214 Trade receivables (291) 866 Other receivables 316 (
Slide 44: Focus on family and management Buy-out
Focus on family and management Buy-out During 2018 the company underwent a restructuring procedure that modified the shareholding structure. As of today, the company is owned by Paolo Marzocchi. The operation was completed through the creation of a financial debt with Banca di Bologna, which allowed
Slide 45: Disclaimer
Disclaimer Privacy The document, drafted by the management of Marzocchi Pompe S.p.A., is strictly confidential, therefore none of its contents may be shared with third parties or used for purposes different from those specified in it. Furthermore, this Document shall not be copied or reproduced with
Slide 46: Contacts
CONTACTS Marzocchi Pompe S.p.A. ir@marzocchipompe.com Integrae SIM S.p.A. – Euronext Growth Advisor Francesco D’Antonio francesco.dantonio@integraesim.it Dario Gancitano dario.gancitano@integraesim.it Beatrice Bussoli beatrice.bussoli@integraesim.it CDR Communication - Investor & Media Relations Pao