Pirelli & C. S.p.a. · MIL:PIRC
Pirelli & C — Q1 2006 Earnings Presentation
16 slides from Pirelli & C's earnings presentation, May 11, 2006
Slide 1: 1Q 2006 Group Results
1Q 2006 Group Results 11 May 2006
Slide 2: Disclaimer
DISCLAIMER This presentation contains statements that constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this presentation and include statements regarding the intent, belief or current ex
Slide 3: 1Q 06 Pirelli Group Results
1Q 06 PIRELLI GROUP RESULTS €/mn 1Q 06 1Q 05 ∆ 06/05 IAS/IFRS IAS/IFRS Net Sales (as reported) 1,206 1,029 17.2% Net Sales (organic) (*) 1,093 10.4% EBITDA 174 144 21.0% EBITDA margin 14.4% 14.0% EBIT 120 93 29.2% EBIT margin 9.9% 9.0% Result from Equity Participations 14 20 (included dividends) Oli
Slide 4: FY 2005 – 1Q 2006: Group Net Financial Position Variation
FY 2005 – 1Q 2006: GROUP NET FINANCIAL POSITION VARIATION €/mn NWC seasonality effect 38 1,495 201 79 1,256 1,177 GROUP NET GROUP TELECOM CAPITALIA GROUP NFP CASH FLOW NFP ITALIA SHARES NFP 31.12.2005 ORDINARY 31.03.2006 SHARES PURCHASE 31.03.2006 ACTIVITIES INCLUDING NET PURCHASE CASH FLOW ORDINARY
Slide 5: 1Q 06 Pirelli Tyre Results
1Q 06 PIRELLI TYRE RESULTS €/mn 1Q 06 1Q 05 Variation IAS/IFRS IAS/IFRS ∆Price/mix: +4.3% ∆Volumes: +3.8% Net 1,000 862 +16.1% ∆Actual Variation: + 8.1% Sales ∆Exch. Rates: +8.0% ∆Total: +16.1% EBITDA 149 133 +12.1% EBITDA margin 14.9% 15.4% ∆Commercial Variations: €12 mn EBIT 99 88 +13.1% ∆Efficien
Slide 6: 1Q 06 Pirelli Tyre Results by Business Segment
1Q 06 PIRELLI TYRE RESULTS BY BUSINESS SEGMENT €/mn FY 05 1Q 06 1Q 05 Variation IAS/IFRS IAS/IFRS IAS/IFRS CONSUMER Sales 2,524 699 611 +14.4% EBIT 202 72 59 +21.3% ROS 8.0% 10.3% 9.7% INDUSTRIAL Sales 1,109 301 251 +20.2% EBIT 127 28 29 -3.8% ROS 11.4% 9.1% 11.4% TOTAL Sales 3,633 1,000 862 +16.1%
Slide 7: 1Q 06 Pirelli Broadband Solutions Results
1Q 06 PIRELLI BROADBAND SOLUTIONS RESULTS €/mn 1Q 06 1Q 05 Variation IAS/IFRS IAS/IFRS Net 38.5 31.0 +24.2% Sales EBITDA (0.4) (0.5) n.m. EBITDA margin n.m. n.m. EBIT (0.7) (1.2) n.m. EBIT margin n.m. n.m. Net Income (1.7) (1.5) n.m. • Sales of Photonic products at €4.2 mn. Positive BBA volume incre
Slide 8: Broadband Access
BROADBAND ACCESS • Final step of development of STB and new residential products ADSL 2, ADSL 2+ • Constant and continuous effort on the market in order to get new customers DiscusTM DiscusTM MultiMediaGate Multiplay Access Hybrid-STB Gateway 7
Slide 9: Photonics
PHOTONICS • 1Q06 sales confirming CWDM appeal for major clients • Final test of the DTL product with the most important costumers, and sales of the first prototypes • Continuous strategy implementation from components to modules CWDM City 8 TM Dynamically Tunable Laser 8
Slide 10: Pirelli & C. Ambiente: Environmental Group's Solutions
PIRELLI & C. AMBIENTE: ENVIRONMENTAL GROUP’S SOLUTIONS Total Net Sales: 21 €/mn Net Result: 2 €/mn PIRELLI AMBIENTE PIRELLI AMBIENTE PIRELLI AMBIENTE ECO TECHNOLOGY RENEWABLE ENERGY SITE REMEDIATION Energy recovery from Environmental Gecam TM, Filters municipal solid waste Reclamation (SRF-P) Reduci
Slide 11: 1Q 06 Pirelli RE Achievements at a Glance
1Q 06 PIRELLI RE ACHIEVEMENTS AT A GLANCE • EBIT including Income from Equity Participations grew by 15% at 38.9 mn Euros while Net Profit reached 30.1 mn Euros, a 12% increase over the same period of 2005 • In the Fund & Asset Management aggregate sales of 456.1 mn Euros generated 135 mn Euros of g
Slide 12: 1Q 06 Pirelli RE Consolidated P&L
1Q 06 PIRELLI RE CONSOLIDATED P&L 1Q 06 1Q 05 ∆ 05/06 IAS/IFRS IAS/IFRS % €/mn Aggregate Revenues 717.8 689.6 +4% Consolidated Revenues 142.1 113.3 EBIT Incl. Income from Equity Participations 38.9 33.8 +15% Profit before taxes 39.2 34.1 Net Attributable Income 30.1 26.9 +12% 11
Slide 13: 1Q 06 Pirelli RE Consolidated Balance Sheet
1Q 06 PIRELLI RE CONSOLIDATED BALANCE SHEET 1Q 06 1 Q 05 €/mn IAS/IFRS IAS/IFRS Fixed Assets 435.5 343.9 (of which Investments in Participated Company and Funds) 328.9 241.6 Net Working Capital 205.5 211.6 Net Invested Capital 641.0 555.5 Shareholders’ Equity 585.0 496.5 (of which Minority Interests
Slide 14: Backup
BACKUP FrRecou
Slide 15: Pirelli Group Structure
PIRELLI GROUP STRUCTURE Main Shareholders Pirelli & C. SpA Camfin 25.6% Assicurazioni Generali 5.2% Edizione Holding 4.7% Mediobanca 4.5% 100% Fondiaria – SAI 4.3% Engine of Pirelli R.A.S. SpA 4.3% Innovation Labs 100% 51% Pirelli Pirelli Start-Ups Broadband Ambiente Solutions 100% 51% 57.7% Core Pi
Slide 16: 1Q 06 Group Results
1Q 06 GROUP RESULTS Pirelli Pirelli Environment Pirelli Tyres Pirelli RE Others PIRELLI GROUP Broadband Solutions €/mn 1Q 06 1Q 05 ∆ 06/05 1Q 06 1Q 05 ∆ 06/05 1Q 06 1Q 05 ∆ 06/05 1Q 06 1Q 05 ∆ 06/05 1Q 06 1Q 05 1Q 06 1Q 05 ∆ 06/05 Net Sales (as reported) 1,000 862 16.1% 39 31 24.2% 142 113 25.4% 21