Carel Industries Spa · MIL:CRL
Carel Industries Spa — H1 2019 Earnings Presentation
12 slides from Carel Industries Spa's earnings presentation, Sep 9, 2019
Slide 1: 2019 - H1 Results
CAREL INDUSTRIES S.p.A. 2019 - H1 Results 9th September 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: H1 2019 – Highlights
H1 2019 – Highlights H1 2019 overall results in line with expectations and guidelines: improvement in revenues, profitability and NWC compared to Q1 2019. • The continuous implementation of the strategic guidelines has led to an increase in revenues equal to 20.3%, benefitting mainly from: Organic
Slide 3: H1 2019 – Improvement compared to Q1 2019
H1 2019 – Improvement compared to Q1 2019 KPIs Revenues Bridge (m€) m€ H1 2018 H1 2019 Δ% Revenue 138.8 166.9 20.3% +7.3% Revenue FX Adj. 138.8 165.6 19.3% 18.1 166.9 9.7 1.4 148.8 Revenue (no M&A) 138.8 148.9 7.3% 138.8 (1.0) EBITDA 24.2 33.7* 39.4% EBITDA Adj.** 29.2 34.2* 17.1% EBITDA Adj/Revenue
Slide 4: H1 2019 – Revenue breakdowns
H1 2019 – Revenue breakdowns Breakdown by region Breakdown by sector Other South America 2% 2% North America 13% HVAC 66% EMEA 71% 166.9 166.9 APAC Refrig. M€ 14% M€ 32% m€ m€ m€ m€ Area H1 2018 H1 2019 Δ% Δ% fx EMEA 96.8 117.9 21.8% 22.1% Sector H1 2018 H1 2019 Δ% Δ% fx APAC 21.1 23.1 9.5% 8.3% HVA
Slide 5: From EBITDA to Net Profit
From EBITDA to Net Profit K€ H1 '18 H1 '19 Δ% • Higher D&A mainly linked to: the EBITDA 24,165 33,687 39.4% change in scope of consolidation, to D&A -4,175 -8,143 higher Capex in 2019 and to the adoption of IFRS 16 (2.0m€) Impairment EBIT 19,990 25,544 27.8% • Financial charges/income affected by Fi
Slide 6: H1 2019 – NFP Bridge
H1 2019 – NFP Bridge 14.7 76.1 FCF=9.0m€ 59.1 1.1 61.4 10.1 11.2 5.9 2.0 (19.0) (9.1) m€ NFP Net Profit D&A Leasing/ NWC CAPEX Dividends Shares Organic NFP IFRS 16 NFP FY 2018 and Provisions rent fees buy-back and H1 2019 others • Net of the effects derived from the adoption of IFRS 16, the NFP woul
Slide 7: Closing Remarks
Closing Remarks The resilience of the CAREL’s product portfolio is confirmed by an improvement in the top-line and profitability performance together with a lower NWC compared to Q1 2019, even in presence of significant signals proving a possible global economic slow-down. Hygromatik and Recuperator
Slide 8: Annexes
Annexes
Slide 9: 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% 9 9 This document and all of its contents are property of CAREL. All unauthorised use, reproduction
Slide 10: Income statement and Balance Sheet
Income statement and Balance Sheet Income statement Balance sheet K€ H1_2018 H1_2019 Delta % K€ FY 2018 H1 2019 Delta % Revenues 138,793 166,904 20.3% Fixed Capital 131,364 151,208 15.1% Other revenues 766 1,156 50.8% Working Capital 53,383 59,313 11.1% Operative costs (115,395) (134,373) 16.4% Empl
Slide 11: Disclaimer
Disclaimer This document has been prepared by CAREL Industries S.p.A for use during meetings with investors and financial analysts and is solely for information purposes. The information set out here in has not been verified by an independent audit company. Neither the Company nor any of its subsidi
Slide 12: This document and all of its contents are property of CAREL. All unauthorised use,
12 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.