Marr Spa · MIL:MARR
Marr Spa — Cremonini — FY2003 Earnings Presentation
8 slides from Marr Spa's earnings presentation, Feb 9, 2004
Slide 1: Analysts' Presentation: Results as of 31/12/2003
ANALYSTS’ PRESENTATION Results as of 31/12/2003 Castelvetro di Modena, February 9, 2004 1
Slide 2: Consolidated P&L
Consolidated P&L TOTAL REVENUES 1, 7 8 6 . 2 PROFIT FROM NORMAL OPERATIONS EBITDA EBIT 8.8 % (mln/euro) (mln/euro) EN UES REV 1, 5 8 9 . 3 % CA G R 44.3 BIT A GR E 1 .2% - C 117.7 1, 3 8 8 . 7 1, 3 6 4 . 9 DA 2 107.0 R EBIT CAG 85.4 66.1 61.8 53.2 37.1 35.9 20.6 21.1 0.6 2000 2001 2002 2003 2000 200
Slide 3: P&L by sector
P&L by sector GROWTH 03/02 TOTAL REVENUES 859.9 EBITDA - EBIT (mln/euro) (mln/euro) PRODUCTION 713.1 760.1 599.3 52.6 47.9 30.6 REVENUES + 13.1% 14.6 19.5 21.8 EBITDA + 10.0% -9.1 5.3 EBIT + 11.8% 2000 2001 2002 2003 2000 2001 2002 2003 TOTAL REVENUES EBITDA - EBIT (mln/euro) 744.2 (mln/euro)
Slide 4: Balance Sheet and Net Financial Position
Balance Sheet and Net Financial Position (in millions of Euro) 2000 2001 2002 2003 Intangible assets 131.4 122.2 122.7 104.7 Tangible assets 393.2 391.0 387.8 391.9 Financial assets 35.1 34.6 31.9 25.8 TOTAL FIXED ASSETS 559.7 547.8 542.5 522.4 NET WORKING CAPITAL 166.6 190.8 162.1 218.2 NET CAPITAL
Slide 5: Reconciliation of Net Financial Position
Reconciliation of Net Financial Position (mln/euro) 25.4 60.1 487.8 93.0 35.7 3.4 451.1 Acquisitions 52.7 • 8.5 Mln/Euro purchase of Ibis plant • 3.0 Mln/Euro purchase of bresaola and speck production plant • 2.7 Mln/Euro purchase of land and buildings for veal calf raising • 7.7 Mln/Euro purchase o
Slide 6: Main Financial Ratios
Main Financial Ratios EBITDA/ NET FINANCIAL EXPENSES NET DEBT/EBITDA NET DEBT/EQUITY 4.6 7.6 6.2 3.1 3.3 2.6 2.8 2.3 4.6 2.0 3.8 1.8 2000 2001 2002 2003 2000 2001 2002 2003 2000 2001 2002 2003 INDICATORS 2000 2001 2002 2003 ROS (Ebit / Revenues) 1.5% 2.7% 3.3% 3.5% ROI (Ebit / Net Capital Employed)
Slide 7: Trend of the Cremonini Share Price
Trend of the Cremonini Share Price “Parmalat effect” Cremonini Mibtel DJ Euro Stoxx Food & Beverage 12/02 01/03 02/03 03/03 04/03 05/03 06/03 07/03 08/03 09/03 10/03 11/03 12/03 01/04 01/04/2003 – 18 /12/2003: growth of the share price 18/12/2003 to present: drop in share price (c. -20%) due to inco
Slide 8: Contacts
Contacts PAOLO LUALDI – Financial Director tel. +39 059 754 614 fax +39 059 754 645 E-mail lualdi@cremonini.com ANDREA BARBOLINI - Investor Relator tel. +39 059 754 610 fax +39 059 754 645 E-mail barbolini@cremonini.com CREMONINI S.P.A. Via Modena 53 - 41014 CASTELVETRO (MO) tel. +39 (059) 754 611 f