Ferreycorp Saa · BVL:FERREYC1
Ferreycorp Saa — Investor Presentation (January 2015)
24 slides from Ferreycorp Saa's investor presentation, January 2015
Slide 1: Corporate Presentation
Corporate Presentation January 2015
Slide 2: “Company”) and is not intended for general distribution. It may only be used for
This presentation has been prepared by Ferreycorp S.A.A. (together with its subsidiaries, the “Company”) and is not intended for general distribution. It may only be used for informational purposes. This presentation may contain proprietary, trade-secret, confidential and commercially sensitive info
Slide 3: Mission, Vision and Corporate Values
Mission, Vision and Corporate Values + MISSION + OUR To provide the solutions that each customer needs, by supplying the capital goods and services that they STRATEGY require to create value in the markets where they operate + VISION Strengthen our leadership by being recognized by our customers as
Slide 4: Overview of Ferreycorp
Overview of Ferreycorp Imports and distributes capital goods and provides spare parts and services related to the business. Leading provider of rental services. Unique Caterpillar distributor in Peru, Guatemala, El Salvador and Belize with operations in those countries including Nicaragua, Chile, Co
Slide 5: Corporate History
Corporate History 2013: 2012: International bond Reorganization issuance: US$ 300mm Active participation 2012: Equity in capital markets 2010: Revenue Follow-on: US$ 62mm US$ 1,044mm 1997: 2014: Re-IPO: Acquisition US$22mm TREX 1994: 2012: First bond Acquisition issuance Bucyrus 2010: Acquisition of
Slide 6: Organization Structure
Organization Structure Caterpillar dealers Caterpillar dealers and Other Peruvian in Perú other businesses abroad Subsidiaries Caterpillar Dealers in Central America Guatemala El Salvador Belize As of 3Q 2014 As of 3Q 2014 As of 3Q 2014 Revenue: US$ 1,030 MM (79%) Revenue: US$ 135MM (10%) Revenue: U
Slide 7: Sustainable Business Model
Sustainable Business Model Sales by line of business 2,000 1,800 1,600 US$1.48Bn US$ Millon 1,400 US$1.31Bn 1,200 1,000 800 600 Product Support sales 400 10 Year CAGR – 13% 200 (2003-2013) - 2007 2008 2009 2010 2011 2012 2013 3Q 2013 3Q 2014 - 11% 2% 2% 8% Machinery 3% 3% 8% Parts and Services 40% R
Slide 8: Diverse Customer Base
Diverse Customer Base 56% of deliveries from non-mining customers Sales by economic sectors Fishing and marine Hydrocarbons and Fishing and Hydrocarbons and energy marine energy Agriculture3% 2% 3% 3% and forest Agriculture and 2% Others forest Others Industry, commerce 5% 3% 2% and serv Industry, c
Slide 9: Caterpillar Market Share
Caterpillar Market Share Perú Central America Open pit mining Heavy construction Guatemala Sany JCB 1% New Bomag 1% Hyundai Otros Holland 1% Other 3% 11% Letournau 1% 7% Komatsu 3% John Deere 3% Bobcat 3% 4% Doosan New Caterpillar Komatsu 3% Holland 44% 33% Caterpillar Hyundai Caterpillar 6% 53% Joh
Slide 10: Nationwide Coverage in Peru and Internationalization
Nationwide Coverage in Peru Internacionalization Ferreyros establishment Branches Projects “in situ” Branches expansion International expansion Local International BELICE GUATEMALA EL SALVADOR NICARAGUA COLOMBIA ECUADOR PERÚ CHILE Ferreyros branches On-site projects Orvisa, Unimaq and Gentrac Guatem
Slide 11: Lean and Efficient Logistics
Lean and Efficient Logistics Ferreycorp integrates and administrates all the key elements in the logistic chain as a value proposition Vertical integration through complementary businesses : 1)Freight Forwarder (FORBIS) y 2)Warehouses and terminals (Fargoline) Efficient handling: 100,000 SKU (Sales
Slide 12: Seasoned Management Team
Seasoned Management Team Investment Corporate Managment Luis Bracamonte Development Managment Rodolfo Paredes Corporate Affairs Division Management Eduardo Ramírez del Villar Human Resources Management Human Resources Corporate Management María Teresa Merino Andrés Gagliardi Administration and Finan
Slide 13: Qualified and Talented Workforce
Qualified and Talented Workforce Strong commitment to have the most qualified workforce As of September 2014, Ferreycorp had a total of 6,829 employees Staff evolution 2,921 technicians 3,740 administratives and sales 168 executives The company’s employee population has been 2,847 2,921 growing in l
Slide 14: Strong Corporate Governance and Social Responsibility
Strong Corporate Governance and Social Responsibility Name Current position Óscar Espinosa Chairman Good corporate governance and social responsibility Carlos Ferreyros Vice Chairman International recognition: Best CG practices: Ferreycorp is a member of the Companies Juan Manuel Peña Director World
Slide 15: Track Record of Consistent Financial Performance
Track Record of Consistent Financial Performance Sales (US$mm) Gross Margin 25% Prime Parts and services Used and Rental Others 24% 22.8% 23% 22% 21.1% 21.1% 21.2% 20.7% 21% 20.3% 1,933 20% 1,831 142 160 19% 190 1,484 135 18% 1,419 108 1,308 108 17% 104 557 633 131 101 16% 1,050 133 2009 2010 2011 2
Slide 16: EBITDA and Profitability Track Record
EBITDA and Profitability Track Record EBITDA (US$mm) and EBITDA margin (%) Operating and Net margin 9% 8.6% 8% 7.8% EBITDA EBITDA margin % 7.5% 7% 7.1% 7.0% 6.8% 6.4% 11.8% 11.0% 10.9% 11.2% 11.5% 10.8% 6% 9.9% 5% 5.0% 4.7% 4.7% 4% 217 181 170 3% 155 141 115 2.6% 90 2% 1.9% 1% 2009 2010 2011 2012 20
Slide 17: Investment in Assets - Accounts Receivables
Investment in Assets - Accounts Receivables Accounts Receivable evolution by term Factoring US$ MM 120 US$ MM 400 100 350 16 14 13 300 12 250 33 80 36 200 13 335 351 150 314 295 245 60 100 205 118 159 50 0 2009 2010 2011 2012 2013 3Q 2013 3Q 2014 40 79 Short term Long term 20 0 3Q 2013 3Q 2014 Commo
Slide 18: Investment in Current and Fixed Assets
Investment in Current and Fixed Assets Inventory evolution (US$mm) CAPEX evolution (US$mm) 73 25 55 59 49 14 45 12 31 15 28 20 602 585 611 20 21 38 538 13 22 454 7 14 338 5 16 17 8 9 11 9 9 206 -3 2009 2010 2011 2012 2013 3Q 13 3Q 14 2009 2010 2011 2012 2013 3Q 2013 3Q 2014 Infrastructure Rental fle
Slide 19: Access to Diversified Sources of Financing
Access to Diversified Sources of Financing Diversified funding base (US$mm) Net Debt/ Bancos Caterpillar Bonos EBITDA 3Q 2014 212 128 295 US$ 635 MM 3Q 2014 3.21x 2013 3.28x 2013 236 170 325 US$ 731MM 2012 3.62x 2012 388 264 75 US$ 728MM 2011 3.43x 2010 3.2x 2011 359 100 99 US$ 558MM 2009 1.89x 2010
Slide 20: Access to Diversified Source of Financing
Access to Diversified Source of Financing Financial expenses 5.0% 4.0% 4.1% Liabilities structure 3.0% 2.4% 2.1% US$533 MM 2.0% 2.0% 2% 2.0% 500 132 1.0% US$ Million 400 0.0% 300 2009 2010 2011 2012 2013 3Q 2014 295 200 US$102 MM 100 Avg interest rate 80 106 0 - 6.0% Current Non-Current Hannover Re
Slide 21: Leverage Ratio / Covenant
Leverage Ratio / Covenant Net debt to EBITDA ratio Adjusted debt to EBITDA ratio 4.39 2.93 4.08 2.68 2.70 3.62 2.37 2.38 2.46 3.33 3.38 3.27 3.22 3.28 2.85 3.06 3.21 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 2009 2010 2011 2012 2013 3Q 2014
Slide 22: Ferreycorp in the Capital Market
Ferreycorp in the Capital Market Capital S/. 1’014,326,324 Shareholders composition Nº of stocks 1’014,326,324 Dividend Yield 3.6% EV/EBITDA 12m 6.0x Local Pension funds Foreign 22% investors Main shareholders as of December 2014 37% Titular % Equinox Partners 8.40% Peruvian La Positiva Vida Seguros
Slide 23: Dividend Policy – Annual Compliance
Dividend Policy – Annual Compliance In 1997, the company´s shareholders approved the dividend policy. A modification was approved to assign minimum and maximum ranges. Cash dividends will amount to 5% of the capital or a ceiling equal to 60% of freely available profits. The remainder will be cap
Slide 24: Contacts
Contacts Administration and Finance Manager: Patricia Gastelumendi Treasury Manager: Liliana Montalvo Investor Relations: Elizabeth Tamayo
Ferreycorp S.A.A. — Investor Presentation (January 2015) on 6ix