Carel Industries Spa · MIL:CRL
Carel Industries Spa — FY2018 Earnings Presentation
12 slides from Carel Industries Spa's earnings presentation, Mar 7, 2019
Slide 1: FY Results 2018
CAREL INDUSTRIES S.p.A. FY Results 2018 7th March 2019 This document and all of its contents are property of CAREL. All unauthorised use, reproduction or distribution of this document or the information contained in it, by anyone other than CAREL, is severely forbidden.
Slide 2: 2018 - Main achievements
2018 - Main achievements - IPO – the first IPO in the main segment of Borsa Italiana in 2018 and one of the few. Jun - Acquisition of a residual 51% stake in Carel Japan which is now fully owned by Carel - First full line of programmable controls implemented in USA. Jul- Further implementation of th
Slide 3: 2018 – Implementation of the strategic guide-lines
2018 – Implementation of the strategic guide-lines 2018 results highlights: +9.7% in Revenue; 19.7% EBITDA Margin adj.; +18.9% Net profit adj. Thanks to the implementation of CAREL’s strategic guidelines. CAREL reported a significant growth in revenues (+8.9%) net of Hygromatik/Recuperator contribut
Slide 4: FY 2018 – Growth expectations confirmed
FY 2018 – Growth expectations confirmed KPIs EBITDA Bridge (m€) m€ FY 2017 FY 2018 Δ% Revenue 255.4 280.2 9.7% 5.3 0.7 55.2 Revenue FX Adj. (1) (3) 255.4 284.6 11.4% 50.3 (1.1) 47.0 EBITDA 50.3 47.0 -6.7% (5.9) (2.3) (2) EBITDA Adj. 50.9 55.2 8.5% EBITDA adj./Revenue 19.9% 19.7% Net Profit 31.2 30.8
Slide 5: FY 2018 – Revenue breakdowns
FY 2018 – Revenue breakdowns Breakdown by region Breakdown by sector Other 2% South APAC 5% North APAC Western Europe HVAC 12% 51% 61% South America 3% 280.2 280.2 M€ North America M€ Refrig. 13% m€ m€ 37% m€ m€ Area FY 2018 FY 2017 Δ% Δ% fx Western Europe 143.1 125.7 13.9% 14.0% Sector FY 2018 FY 2
Slide 6: From EBITDA to Net Profit
From EBITDA to Net Profit K€ FY '17 FY '18 Δ% EBITDA 50,337 46,986 -6.7% • Higher D&A mainly linked to the Carel’s footprint expansion project (Croatia, D&A -8,076 -9,119 Italy, US) Impairment EBIT 42,261 37,867 -10.4% • Financial charges/income affected by: Financial (charges)/income 451 -136 - the
Slide 7: FY 2018 – (NFP)/Cash Bridge
FY 2018 – (NFP)/Cash Bridge +9.6m€ 10.7 30.8 (13.8) 40.2 (18.1) 19.1 M&A (NFP)/Cash (30.0) (0.7) FY 2018 m€ (NFP)/Cash Net Profit D&A and NWC CAPEX Dividends Other Organic NFP M&A (NFP)/Cash FY 2017 Provisions FY 2018 (59.1) (78.3) • Positive FCF generation (+9.6m€): FFO equal to ~41.5m€ thanks to v
Slide 8: Sustainability as a strategic pillar
Sustainability as a strategic pillar Sustainability has always been an essential element driving CAREL strategy ~6%2015-2018 Avg. Revenue/year invested in R&D High efficiency Natural refrig. IoT 8 8 This document and all of its contents are property of CAREL. All unauthorised use, reproduction or di
Slide 9: Closing Remarks
Closing Remarks 2018 confirms: - the good balance and resiliency of CAREL’s business portfolio - the ability of the Company in achieving expected results and effectively pursuing its strategy Development capex plan in line with the deployment program, in order to support organic growth. Dividend pro
Slide 10: Annexes
Annexes
Slide 11: Shareholding structure
Shareholding structure CAREL Industries S.p.A. Share capital Other Luigi Rossi Shareholders; Luciani 32,23% S.a.p.a; 36,17% Capital Research and Management Company; 8,02% Luigi Nalini S.a.p.a; 23,58% 11 11 This document and all of its contents are property of CAREL. All unauthorised use, reproductio
Slide 12: Income statement and Balance Sheet
Income statement and Balance Sheet Income statement Balance sheet K€ FY 2017 FY 2018 Var. % K€ FY 2017 FY 2018 var % Revenues 255,449 280,220 9,7% FIXED ASSETS 37,411 131,364 251.1% Other revenues 2,131 3,147 47,7% WORKING CAPITAL 46,353 53,383 15.2% Operative costs (207,242) (236,381) 14,1% EMPL. D