Fine Foods & Pharmaceuticals N.t.m. Spa · MIL:FF
Fine Foods & Pharmaceuticals N.t.m. Spa — FY2021 Earnings Presentation
40 slides from Fine Foods & Pharmaceuticals N.t.m. Spa's earnings presentation, Mar 30, 2022
Slide 1: Full Year Results Presentation 2021
Full Year Results Presentation 2021 30/03/22
Slide 2: Disclaimer
FINE FOODS FULL YEAR 2021 2 RESULTS PRESENTATION Disclaimer This document has been prepared by Fine Foods & The information contained in this document, unless Pharmaceuticals N.T.M. S.p.A. for the sole purpose otherwise specified is only current as of the date of this described herein. The informati
Slide 3: Fine Foods: We create value
FINE FOODS FULL YEAR 2021 3 RESULTS PRESENTATION Fine Foods We create value
Slide 4: Consolidated Financial Highlights
FINE FOODS FULL YEAR 2021 4 RESULTS PRESENTATION 2021 2020 Consolidated REVENUES € 192.6 mln € 172.0 mln + 12.0% Financial EBITDA* € 21.2 mln € 22.3 mln - 5.0% Highlights EBITDA MARGIN * 11.0% 13.0% EBIT** € 7.7 mln € 10.7 mln - 27.6% 2021 2020 REVENUES OF FINE FOODS € 176.4 mln € 172.0 mln + 2.6% S
Slide 5: Fine Foods I.D.
FINE FOODS FULL YEAR 2021 5 RESULTS PRESENTATION Fine Foods I.D. Fine Foods & Pharmaceuticals N.T.M. S.p.A., listed on Euronext Star Milan, is an independent Italian Contract Development & Manufacturing Organisation (CDMO). It develops and manufactures finished products for the pharmaceutical, nutra
Slide 6: Knowledge and technologies
FINE FOODS FULL YEAR 2021 6 RESULTS PRESENTATION Knowledge and → NUTRA AND PHARMA o Bottles technologies o Jars o Blister o Sachet Cross-fertilized innovation by exploiting our expertise in different fields and leveraging best practices and technical know-how to offer new tablets, capsules, granules
Slide 7: Selection of products
FINE FOODS FULL YEAR 2021 7 RESULTS PRESENTATION Selection of products o Pharmaceuticals o Nutraceuticals o Cosmetics ➝
Slide 8: Customers’ loyalty
FINE FOODS FULL YEAR 2021 8 RESULTS PRESENTATION 2010 Customers’ 2002 loyalty Retained key clients acquired before 2002 with several new ones added afterwards, including those derived from our recent acquisitions in the cosmetics industry, which consolidated our high customer retention rate. Note: S
Slide 9: Fine Foods key figures
FINE FOODS FULL YEAR 2021 9 RESULTS PRESENTATION Fine Foods 192.6€m Revenues in 2021 with ~11% CAGR over the last 79.5€m increase in revenues over the last 5 years (63.3 key figures 10 years (~10% organic) organic) 2021 ~69% of products sold in ~264 customers, mainly leading 2021 has been delivered
Slide 10: Fast growing European Nutraceutical Market
FINE FOODS FULL YEAR 2021 10 RESULTS PRESENTATION Fast growing EUROPEAN NUTRACEUTICAL PRODUCTION* (€bn) Nutraceutical CAGR European Market 4.6% 5.2% CAGR CAGR The European Nutraceutical Market 64.2 ’18-’21 ’21-’24 has shown high, steady growth, 56.1 and is expected to maintain a 48.2 18.5 Vitamins &
Slide 11: Pharmaceutical European production
FINE FOODS FULL YEAR 2021 11 RESULTS PRESENTATION Pharmaceutical EUROPEAN PHARMACEUTICAL EUROPEAN CDMOs (PHARMA) PRODUCTION* 2019 MARKET VALUE ** European production The European Pharmaceutical production is expected to continue its sound growth in coming 13% shows consistent years 23% non-cyclical
Slide 12: Expanding in the fast-growing Cosmetic and Biocide market
FINE FOODS FULL YEAR 2021 12 RESULTS PRESENTATION Expanding in the EUROPEAN COSMETIC AND BIOCIDE MARKET fast-growing Cosmetic and The European Cosmetic and Biocide market is expected to accelerate growth in coming years Biocide market (€bn) CAGR 3.4% 106 Source: Euromonitor International, Consumer H
Slide 13: Consistently outperforming Reference Markets
FINE FOODS FULL YEAR 2021 13 RESULTS PRESENTATION Consistently Reference markets show high steady growth and resilience during recessions Fine Foods has substantially outgrown its reference end-markets in the last decade, outperforming with 2021 sales at 2.9X the 2011 level Reference European Vitami
Slide 14: Research & Development
FINE FOODS FULL YEAR 2021 14 RESULTS PRESENTATION Research & Development
Slide 15: R&D for efficient and high-quality product development
FINE FOODS FULL YEAR 2021 R&D 15 RESULTS PRESENTATION R&D for efficient and high-quality product development Thanks to different approaches OPPORTUNITY LAB INNOVATION LAB CUSTOMISATION LAB TRANSFER LAB to each customer’s requests Formulae databank Innovative products Exclusive and Efficient Technolo
Slide 16: Environmental Social & Governance
FINE FOODS FULL YEAR 2021 16 RESULTS PRESENTATION Environmental Social & Governance
Slide 17: Strong holistic ESG approach since foundation
FINE FOODS FULL YEAR 2021 ESG 17 RESULTS PRESENTATION PEOPLE Strong holistic ESG approach since foundation ETHICS & ENVIRONMENT GOVERNANCE AREAS OF ACTION SUPPLY SUSTAINABLE CHAIN PRODUCTS LOCAL DEVELOPMENT ➝
Slide 18: Corporate Governance
FINE FOODS FULL YEAR 2021 ESG 18 RESULTS PRESENTATION ➝ ETHICS AND GOVERNANCE Corporate → 3 women out of 7 Directors Governance → 3 Independent Directors out of 7 Our governance is structured → 2 Non-executive Directors out of 7 around an ESG responsible approach. It allows us to pursue a sustainabl
Slide 19: Ratings, ESG commitment, Certifications
FINE FOODS FULL YEAR 2021 ESG 19 RESULTS PRESENTATION ➝ ETHICS AND GOVERNANCE Ratings Sedex Member since ESG commitment Medium Risk 2016 (Business Units Food) Certifications Organizational, managerial and control models to prevent Since 2021 crimes Please note that each of the certifications Certifi
Slide 20: Financials
FINE FOODS FULL YEAR 2021 20 RESULTS PRESENTATION Financials
Slide 21: Fine Foods Group significant overall revenue growth
FINE FOODS FULL YEAR 2021 FINANCIALS 21 RESULTS PRESENTATION +12.0% REVENUES 192.6 172.0 Fine Foods Group significant overall revenue growth Overall Revenue Growth: +12.0% Revenue break-down Organic Revenue Growth: +2.6% (without Pharmatek and FOOD PHARMA COSMETIC Euro Cosmetic) +4.7% 132.0 138.1 -4
Slide 22: EBITDA
FINE FOODS FULL YEAR 2021 FINANCIALS 22 RESULTS PRESENTATION % of revenues EBITDA ADJUSTED 13.0% 11.0% EBITDA -5.0% 22.3 21.2 Ebitda and Ebitda margin mainly * 1.2 €m adjustment for non recurring costs: decreased due to the steep • 0.9 €m for Covid impact worsening in 4Q-2021 of the • 0.3 €m for ext
Slide 23: EBIT
FINE FOODS FULL YEAR 2021 FINANCIALS 23 RESULTS PRESENTATION % of revenues EBIT ADJUSTED EBIT 6.2% 4.0% The variance in EBIT Adjusted 10.7 compared to last year derives 7.7 -27.6% from Ebitda variation and from increases in D&A (1.8€m) mainly * 1.2 €m adjustment for non recurring costs due to M&A **
Slide 24: Net income
FINE FOODS FULL YEAR 2021 FINANCIALS 24 RESULTS PRESENTATION % of revenues NET INCOME ADJUSTED +9.1% 5.4% 5.3% Net income 9.3 10.2 Net Income Adjusted: +9,1% * 4.1 €m Adjustments: Net Income Reported mainly affected by a non- o 0.8 €m non recurring costs net of tax effect cash effect for fair value
Slide 25: Healthy capital allocation
FINE FOODS FULL YEAR 2021 FINANCIALS 25 RESULTS PRESENTATION NET WORKING CAPITAL CAPEX AND INVESTMENTS NWC increased compared to last year Main impact derives from investments in Healthy capital mainly due to the impact in trade receivables (+16,6€m) whose variance is Pharmatek and Euro Cosmetic acq
Slide 26: Net financial position evolution from 2020 to 2021
FINE FOODS FULL YEAR 2021 FINANCIALS 26 RESULTS PRESENTATION MOST SIGNIFICANT CASH-IN AND CASH-OUT Net NFP NFP Euro NFP Net Amortization NWC Pharmatek & Euro Warrant conversion NFP financial & Others NET Cosmetic 2020 Cosmetic Pharmatek Income & Stock Dividends 31.12.2021 Depreciation CAPEX Acquisit
Slide 27: Shareholding structure
FINE FOODS FULL YEAR 2021 27 RESULTS PRESENTATION Shareholding structure
Slide 28: Shareholding structure
FINE FOODS FULL YEAR 2021 SHAREHOLDING STRUCTURE 28 RESULTS PRESENTATION FLOATING ON Shareholding Fine Foods Shares N. of shares (Mln) % LISTED SHARES structure Listed Shares Unlisted Shares 22.1 3.5 86% 14% As of 30.03.2022 Total Equity Capital 25.6 100% % OF TOTAL EQUITY CAPITAL % OF VOTING RIGHTS
Slide 29: Fine Foods shares
FINE FOODS FULL YEAR 2021 SHAREHOLDING STRUCTURE 29 RESULTS PRESENTATION Fine Foods Total Shares: 25,560,125 UNLISTED SHARES shares o Ordinary Shares – listed: 22,060,125 o Multiple Voting Rights Shares – unlisted: Multiple Voting Rights Shares: 3,500,000 3,500,000 o Totally owned by Marco Francesco
Slide 30: Fine Foods: Our way
FINE FOODS FULL YEAR 2021 30 RESULTS PRESENTATION Fine Foods Our way
Slide 31: Why Fine Foods?
FINE FOODS FULL YEAR 2021 FINE FOODS 31 RESULTS PRESENTATION o SOLID TRACK RECORDS Why Fine Foods? o HIGH AND STABLE o PHARMA FOOD o STRONG CAGR IN THE COSMETIC UNIQUE FINANCIALS LAST 10 YRS PRESENCE o CRITICAL o HOLISTIC MASS SUSTAINABILITY o CROSS FUNCTIONAL SINCE 2010 INNOVATIVE R&D o ADVANCED HR
Slide 32: Contacts
contacts Fine Foods & Pharmaceuticals N.T.M. S.p.A. Investor Relations Tel. +39 035 4821382 ir@finefoods.it CDR Communication Media Relations Marianna Tremolada marianna.tremolada@cdr-communication.it 30/03/22
Slide 33: Backup
FINE FOODS FULL YEAR 2021 33 RESULTS PRESENTATION backup
Slide 34: Manufacturing plants geographical footprint
FINE FOODS FULL YEAR 2021 34 RESULTS PRESENTATION BERGAMO Manufacturing ◎ plants FINE FOODS BREMBATE geographical footprint 1 ◎ FINE FOODS ZINGONIA ◉ 2 3 EURO COSMETIC MILAN ◎ TRENZANO ◉ HQ 4 1 Pharmaceuticals 2 Nutraceuticals 3 Cosmetics PHARMATEK CREMOSANO 4 Cosmetics – Biocides — Medical Devices
Slide 35: Plants
FINE FOODS FULL YEAR 2021 35 RESULTS PRESENTATION ⦾Brembate ⦾Zingonia PHARMACEUTICAL NUTRACEUTICAL Plants 59.000 sqm of covered area + 5,800 sqm COVERED AREA: COVERED AREA: under construction on a Total area > TOTAL AREA: 26,100 sqm TOTAL AREA: 45,600 sqm ⦾Cremosano ⦾Trenzano COSMETICS COSMETICS COV
Slide 36: People
FINE FOODS FULL YEAR 2021 ESG 36 RESULTS PRESENTATION ➝ PEOPLE WE HIRE People ~ 11.000 applications/year We are fully WOMEN SAFETY AT WORK committed to ~ 47% of total employees, o Management system for health ~ 48% of managers and safety is internationally creating an certified since 2014* environme
Slide 37: Environment
FINE FOODS FULL YEAR 2021 ESG 37 RESULTS PRESENTATION ➝ ENVIRONMENT Environment We are committed to sustainably use our resources and reduce our environmental impact. CLIMATE WATER CIRCULAR ENVIRONMENT RESOURCES ECONOMY PROTECTION o - 11% CO2 emissions o Programs for o Programs for reduction of * o
Slide 38: Sustainable products
FINE FOODS FULL YEAR 2021 ESG 38 RESULTS PRESENTATION ➝ SUSTAINABLE PRODUCTS Sustainable We are able to offer Our production products certified biological and ecological cosmetic lines are certified to offer certified We are always researching, products. biological and/or testing and offering produc
Slide 39: Suppliers’ ESG management
FINE FOODS FULL YEAR 2021 ESG 39 RESULTS PRESENTATION ➝ SUPPLY CHAIN Suppliers’ ESG ENVIRONMENTAL AND SOCIAL ASSESSMENT OF OUR SUPPLIERS management value of purchases of raw materials and packaging from suppliers assessed by EcoVadis on ESG criteria Above Fine Foods ESG requirements Ongoing joint im
Slide 40: Relations with local communities
FINE FOODS FULL YEAR 2021 ESG 40 RESULTS PRESENTATION ➝ LOCAL DEVELOPMENT Relations MAIN COLLABORATIONS WITH UNIVERSITIES TRADE ASSOCIATIONS with local communities ➝
Fine Foods & Pharmaceuticals N.t.m. — FY2021 Earnings Presentation on 6ix