Italian Wine Brands S.p.a. · MIL:IWB
Italian Wine Brands — FY2018 Earnings Presentation
14 slides from Italian Wine Brands's earnings presentation, Apr 2, 2019
Slide 1: Financial Results - 31 December 2018
Financial Results - 31 December 2018 Milan, 2 April 2019
Slide 2: Results Headlines
RESULTS HEADLINES 2018 2017 2016 2015 Cagr 15 / 18 Reported Sales 149,9 149,7 145,9 144,8 1,16% Restated Ebitda 14,6 16,0 11,3 12,1 3,75% Reported Ebit 9,9 10,8 6,1 7,2 13,59% Reported Net Profit 6,4 6,7 4,3 3,6 23,75% Reduction of Euro Reported NFP 3,4 2,3 10,5 20,1 16,7 m in three years 2018 Main
Slide 3: Market Challenge
MARKET CHALLENGE • Western markets have reached saturation point and consumer behaviour is changing • Healthy trends may hit alcohol consumption • The domestic market keeps suffering from a decrease in consumption • Shift of purchases through channels
Slide 4: Opportunities
OPPORTUNITIES • Asia and other countries are increasing consumption • Russia may have a come back • Trend of premiumisation of the beverage categories • We only cover a limited number of countriesand a limited number of accounts
Slide 5: Strategy
STRATEGY • Territorial expansion of sales • Launch of new brands to target new consumers • Focus on premiumisation & scale • New product categories through channels • M&A BUILDING GROWTH SHAREHOLDER VALUE
Slide 6: Our Vision
OUR VISION IWB will be the leading Italian beverage company in the world. WINE SPIRITS BEER
Slide 7: This is what we have to do. This is what we can do.
This is what we have to do. This is what we can do. This is what we want to do.
Slide 8: 2018 Figures
2018 Figures We deliver solid results thanks to a continuing development of top line combined with operating expenses control. This action allowed for an almost complete absorption of one-off raw material costs peak and for a structural increase of operating margins going forward. We strive to impro
Slide 9: 2018 - Results Highlights
2018 - RESULTS HIGHLIGHTS • Net Sales of € 149.9 millions (+ 0.1% yoy) compared with net sales of € 149,7 million in 2017 • Non domestic revenues 77.4% on total (from 75.1%) • Wholesale division revenues +11.79% yoy (€ 77.2 million, > 50% on total) • Distance selling revenues -9,8% yoy (€ 72.0 milli
Slide 10: 2018 – Profit & Loss
2018 –Profit & Loss 31.12.2018 31.12.2017 31.12.2016 ∆ % 17/18 Cagr 16/18 Total Revenues 150.187 153.416 148.664 (2,10%) 0,51% Raw Material (86.082) (83.219) (78.527) 3,44% 4,70% % on Total Revenues -57,32% -54,24% -52,82% Services (41.515) (45.700) (46.503) (9,16%) (5,52%) % on Total Revenues -27,6
Slide 11: 2018 – Net Sales
2018 – NET SALES 31.12.2018 31.12.2017 31.12.2016 % 17/18 Cagr 16/18 Sales - Domestic 33.819 37.303 41.005 -9,34% -9,18% Sales - Non domestic 115.346 111.560 104.323 3,39% 5,15% Germany 34.179 34.358 33.731 -0,52% 0,66% Switzerland 26.842 26.570 25.701 1,03% 2,20% Austria 15.399 15.621 15.328 -1,42%
Slide 12: 2018 – Net Sales Wholesale
2018 – NET SALES Wholesale 31.12.2018 31.12.2017 31.12.2016 ∆ % 17/18 Cagr 16/18 Sales wholesale - Domestic 2.455 - - N/A N/A Sales wholesale - Non Domestic 74.707 69.023 60.330 8,23% 11,28% Switzerland 23.404 22.595 21.593 3,58% 4,11% Austria 13.080 13.011 13.153 0,54% (0,27%) Germany 9.780 9.488 8
Slide 13: 2018 – Net Sales Distance Selling
2018 – NET SALES Distance Selling 31.12.2018 31.12.2017 31.12.2016 ∆ % 17/18 Cagr 16/18 Sales Distance Selling - Domestic 31.364 37.303 41.005 (15,92%) (12,54%) Direct Mailing 14.829 16.323 18.054 (9,15%) (9,37%) Teleselling 12.671 17.810 20.551 (28,85%) (21,48%) Digital / WEB 3.864 3.170 2.400 21,8
Slide 14: 2018 – Balance Sheet / Cash Flows
2018 – BALANCE SHEET / CASH FLOWS 31.12.2018 31.12.2017 31.12.2016 Net Fixed Assets 91.394 88.390 88.413 Low Capex Requirement Intangible assets net of deferred taxes 78.385 76.657 75.887 Tangible assets 14.736 14.232 15.529 Provisions -1.071 -1.684 -1.996 TFR -656 -815 -1.007 Net Working Capital -3