Cir S.p.a. - Compagnie Industriali Riunite · MIL:CIR
Cir S.p.a. - Compagnie Industriali Riunite — CIR S.p.A. - Compagnie Industriali Riunite — FY2019 Earnings Presentation
20 slides from Cir S.p.a. - Compagnie Industriali Riunite's earnings presentation, March 2020
Slide 1: FY 2019 Results
CIR FY 2019 Results March 2020 777777 y ARRBREE EE LETT aga 1 93 SR > SI II4 SSS Fee =s aa Try ys + - EES Ala ~ SOD epeteetaaae: 7 >> 7 y Ty. a eae aseeee . ea are A> PP; J yyy, wr
Slide 2: New CIR: streamlined group structure and renewed strategic focus
New CIR: streamlined group structure and renewed strategic focus • • •
Slide 3: New CIR: streamlined group structure
New CIR: streamlined group structure
Slide 4: New CIR: merger of CIR into Cofide completed
New CIR: merger of CIR into Cofide completed • • •
Slide 5: New CIR: disposal of GEDI pending completion
New CIR: disposal of GEDI pending completion • • • •
Slide 6: New CIR: FY 2019 pro-forma financial highlights
New CIR: FY 2019 pro-forma financial highlights • • • • •
Slide 7: Stable Normalised Net result
Stable Normalised Net result CIR Group PF Consolidated income statement
Slide 8: CIR Group PF Consolidated income statement by business
CIR Group PF Consolidated income statement by business €/M
Slide 9: CIR Group pro forma - Consolidated balance sheet and NAV
CIR Group pro forma - Consolidated balance sheet and NAV
Slide 10: KOS – A leading operator in Long Term Care
KOS – A leading operator in Long Term Care ≈ ≈ SHAREHOLDERS ▪ CIR (59.53%) ▪ F2i (40.47%) LONG TERM CARE DIAGNOSTICS & CANCER CARE ACUTE CARE o REHABILITATION NURSING HOMES NURSING HOMES & PSYCHIATRY (ITALY) (ITALY) (GERMANY) • ≈30 Service Contracts • 1 Hospital • 35 facilities • 52 facilities • 47
Slide 11: KOS – A geographically diversified player
KOS – A geographically diversified player 2019 Pro Forma(1) Revenues 2019 Pro Forma(1) Revenues split (%) (€m) 22% 538 1% Fussen 3% Italy 2019 A 74% 156 Germany 2019 PF(1) 21 Milano New Delhi India 2019 A 10 London 2019 A UK Long Term Care site Diagnostics & Cancer Care site Headquarter (1) 2019 Ful
Slide 12: KOS – Growth strategy and track record
KOS – Growth strategy and track record KOS has profitably grown since its startup by CIR in 2003, by focusing and developing excellence in two core activities: • KOS started market consolidation in Italy in Nursing Homes, Rehabilitation and Psychiatry, at a pace of 400-500 beds per year, through bot
Slide 13: KOS – Strong performance in 2019
KOS – Strong performance in 2019 • • • • • •
Slide 14: KOS – LTC Italy is the core contributor to revenues and earnings
KOS – LTC Italy is the core contributor to revenues and earnings • •
Slide 15: KOS – Acquisition of Charleston in Germany
KOS – Acquisition of Charleston in Germany On October 30, 2019 KOS boosted its international growth in Long Term Care with the acquisition of 100% of Charleston, one of the top ten Nursing Home operators in Germany, for an enterprise value of Euro 92 M • Charleston operates 4.050 beds in 47 Nursing
Slide 16: Sogefi – overview
Sogefi – overview Key financials 1H 201 SUSPENSIONS FILTRATION AIR & COOLING 36% 36% 28% • 11.7% Europe 60.9% • 11.2% North America 19.0% FORD 10.7% South America 10.5% FCA/CNH Industrial 10.1% Asia 9.6% • GM 8.1% DAIMLER 7.6% • VOLKSWAGEN/AUDI 5.0% Weight of non-European markets: 39% TOYOTA 3.2% BM
Slide 17: CIR Group pro forma - Consolidated net financial position
CIR Group pro forma - Consolidated net financial position €/M
Slide 18: Net financial position at CIR Holding PF level
Net financial position at CIR Holding PF level Net financial surplus at Dividend paid Dividend received Shares buyback Net divestitures Financial income Holding costs Net financial surplus at Dec. 31, 2018 (investments) Dec. 31, 2019 of which ex CIR pre-merger
Slide 19: Composition of PF net financial position
Composition of PF net financial position €/M
Slide 20: Non-core investments
Non-core investments Private equity = Diversified portfolio of private equity funds and direct minority private equity investments, with a fair value of € 56.5 M at 31 December 2019 (stable, as a result of divestments and limited new investments) = The portfolio has reached its maturity/reimbursemen
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