Green Oleo S.p.a. · MIL:GRN
Green Oleo — Investor Day (April 2025)
33 slides from Green Oleo's investor day presentation, Apr 14, 2025
Slide 1: Green Oleo Capital Markets Day
GREEN OLEO # 1 GREEN OLEO Capital Markets Day April 14, 2025
Slide 2: Disclaimer
GREEN OLEO # 2 DISCLAIMER THE FORWARD-LOOKING STATEMENTS CONTAINED IN THIS DOCUMENT ARE MADE IN GOOD FAITH, BASED ON A SERIES OF ASSUMPTIONS REGARDING FUTURE EVENTS AND INFORMATION AVAILABLE TO THE DIRECTORS AT THE TIME OF APPROVAL OF THIS DOCUMENT. SUCH FORWARD-LOOKING STATEMENTS ARE BASED ON INFOR
Slide 3: Speakers
GREEN OLEO # 3 SPEAKERS BEATRICE FRANCESCO RAFFAELLA ALESSANDRO BUZZELLA BUZZELLA BIANCHESSI VIANO Chairman & CEO CEO CFO Business General Manager
Slide 4: Solid growth in a challenging market environment
2024 FINANCIAL PERFORMANCE GREEN OLEO # 4 SOLID GROWTH IN A CHALLENGING MARKET ENVIRONMENT PRODUCTION GROWTH FOR EU27 MANUFACTURING SECTORS (2024 yoy) NATURAL GAS PRICES: EUROPE VS USA (€/MWh) EUDR POSTPONEMENT In Q4 2024 the postponement of the entry into force of the EUDR (EUropean Deforestation-f
Slide 5: Maximizing production capacity to foster economies of scale
2024 FINANCIAL PERFORMANCE GREEN OLEO # 5 MAXIMIZING PRODUCTION CAPACITY TO FOSTER ECONOMIES OF SCALE VOLUMES (K t) REVENUES (€M) 48 39 71.2 60.6 2023 2024 2023 2024 Focus on Volumes to generate Revenues +18% thanks to the economies of scale: +24% different product mix
Slide 6: Shift in product mix in favour of esters
2024 FINANCIAL PERFORMANCE GREEN OLEO # 6 SHIFT IN PRODUCT MIX IN FAVOUR OF ESTERS ESTERS growth rates FATTY ACIDS growth rates 64% 55% 22% 10% Volumes Revenues Volumes Revenues Development in cosmetics, Positive contribution from all lubrication and ceramics major categories GLYCERINES: GREEN OLEO
Slide 7: Competitive landscape: listed companies
COMPETITIVE LANDSCAPE GREEN OLEO # 7 LISTED COMPANIES GREEN OLEO differs from its competitors for a product range based mainly on olive oil derivatives, which are the most requested in the sectors with higher margins and in the Green Deal perspective the most favored ones. RAW MATERIAL PRODUCTS 2023
Slide 8: Strong improvement in margins
2024 FINANCIAL PERFORMANCE GREEN OLEO # 8 STRONG IMPROVEMENT IN MARGINS INCIDENCE OF RAW MATERIAL COSTS1 EBITDA (€M) EBIT (€M) 72.9% 3.0 68.5% 1.6 (0.4) (1.3) 2023 2024 2023 2024 2023 2024 Improved by the efficiency of the Improved by the growth of the Gross Impacted by 0.5 €M of provisions. procure
Slide 9: Solid financial structure
2024 FINANCIAL PERFORMANCE GREEN OLEO # 9 SOLID FINANCIAL STRUCTURE NET WORKING CAPITAL (€M) NET FINANCIAL DEBT (€M) 16 0.17x 20.0 9.24x 10.00x 0.17x 14 12 15.0 3.97x 5.00x 0.11x 0.12x 10 8 0.07x 10.0 0.00x 6 14.3 10.3 11.9 4 7.5 0.02x 5.0 -5.00x 2 0 -0.03x 0.0 -10.00x 2023 2024 2023 2024 NWC NWC /
Slide 10: Investments
HISTORICAL FINANCIAL PERFORMANCE GREEN OLEO # 10 INVESTMENTS €M 2020 2021 2022 2023 2024 TANGIBLE 2.06 3.57 5.21 1.82 2.17 INTANGIBLE 0.02 0.08 0.16 0.93 0.19 INVESTMENTS 2.09 3.65 5.36 2.74 2.36 Facilities to Completion of new complement the warehouse Purchase of production of esters Purchase of ev
Slide 11: Regulatory drivers and megatrends
MEDIUM-TERM OLEOCHEMICAL MARKET TREND GREEN OLEO # 11 REGULATORY DRIVERS AND MEGATRENDS European Green Deal • Although non-EU states have not equipped themselves with a package of sustainability policies as aims to move the EU towards a green transition, with the intention of achieving important as
Slide 12: The choices of the big brands
MEDIUM-TERM MARKET TREND GREEN OLEO # 12 THE CHOICES OF THE BIG BRANDS COSMETICS DETERGENTS INTERMEDIATE FOR INDUSTRY LUSH UNILEVER BASF We are also working to reduce the climate and We want to ensure our brands not only do less harm but also nature impact of our supply webs, while creating do more
Slide 13: Recent achievements boosting growth
R&D: THE KEY FOR GROWTH GREEN OLEO # 13 RECENT ACHIEVEMENTS BOOSTING GROWTH 2023 2025 • The Reach registration process completed in September 2023 for The inclusion of 44 esters from renewable sources in the Lubricant Medium Chain Triglycerides have strengthened the presence in the Substance Classif
Slide 14: Ongoing R&D projects and new markets
R&D: THE KEY FOR GROWTH GREEN OLEO # 14 ONGOING R&D PROJECTS AND NEW MARKETS COMESTICS Completely palm-free products based on olive oil A new project has been initiated to study emollients for skin care formulations, featuring interesting and completely palm-free products based on olive oil, which i
Slide 15: Organic chemistry: true green chemistry
A «SUSTAINABLE BY DESIGN» COMPANY GREEN OLEO # 15 ORGANIC CHEMISTRY: «TRUE GREEN CHEMISTRY», Mario Buzzella FAMILIES OF RAW MATERIALS AND BY PRODUCTS TARGET MARKETS OLEOCHEMICAL PRODUCTS VEGETABLE BASED ESTERS Adhesives Intermediates for industry GLYCERINE FATTY ACIDS Agro Lubricants • oleic acids C
Slide 16: From upcycling, renewable, biodegradable, certified raw materials
A «SUSTAINABLE BY DESIGN» COMPANY GREEN OLEO # 16 FROM UPCYCLING, RENEWABLE, BIODEGRADABLE, CERTIFIED AND SHORT CHAIN RAW MATERIALS Thanks to the technical know-how and the features of the production plant, GREEN SPENDING TOWARDS SUPPLIERS OLEO is among the few global players to process olive oil de
Slide 17: Certifications
A «SUSTAINABLE BY DESIGN» COMPANY GREEN OLEO # 17 CERTIFICATIONS SUPPLY CHAIN AND PRODUCT PROCESS Quality management system Environmental management Only 1% of all companies assessed by EcoVadis system manage to achieve this result. Aspects analysed during the certification process: • sustainable pr
Slide 18: Organic growth strategy
ORGANIC GROWTH STRATEGY GREEN OLEO # 18 MAIN PILLARS Margin optimization through product mix R&D Investments aimed at optimizing esterification plants, with the aim of speeding up production and making it more flexible is the key Investments to revamp the oleochemical department dedicated to product
Slide 19: M&A growth strategy: potential target companies
M&A GROWTH STRATEGY GREEN OLEO # 19 POTENTIAL TARGET COMPANIES COSMETICS LUBRICATION TARGET A TARGET B TARGET C TARGET D Consolidation of the brand in Expansion of sales channels, Increase/rationalization of STRATEGIC RATIONALE natural cosmetics Increase in production capacity distribution network a
Slide 20: The Cremona production site
OVER 39 €M OF INVESTMENTS SINCE 2012 GREEN OLEO # 20 THE CREMONA PRODUCTION SITE
Slide 21: IR Team
GREEN OLEO # 21 IR Team Raffaella Bianchessi (CFO & IRM) Maria Antonietta Pireddu investor.relations@greenoleo.com m.pireddu@irtop.com T +39 0372 487256 T +39 02 45473884
Slide 22: Over years of history: private management
OVER 100 YEARS OF HISTORY GREEN OLEO # 22 PRIVATE MANAGEMENT 1923: Stabilimenti Chimici Mazzini 1955 Simel (Società Immobiliare Mazzini e Lacchini) The entry into the Company of Engineer Lacchini brought new know how to the company. The factory takes on its current configuration thanks to the introd
Slide 23: Multinationals
OVER 100 YEARS OF HISTORY GREEN OLEO # 23 MULTINATIONALS 1985 1997 2006 UNILEVER creates its own business UNILEVER sells UNICHEMA I.C.I. sells the UNIQEMA business unit to branch dedicated to chemistry, INTERNATIONAL to I.C.I., which changes Croda International Plc. UNICHEMA INTERNATIONAL, including
Slide 24: The Buzzella family
OVER 100 YEARS OF HISTORY GREEN OLEO # 24 THE BUZZELLA FAMILY The Buzzella family has been operating in the industrial chemistry sector for over 60 years in the company named The history of COIM began with the meeting COIM, one of the main between Mario Buzzella (a lab technician in a chemical plant
Slide 25: Production capacity and efficiency
OVER 39 €M OF INVESTMENTS SINCE 2012 GREEN OLEO # 25 PRODUCTION CAPACITY AND EFFICIENCY • New esterification plants with an annual capacity of 15,000 • A 1 MW cogenerator powered by natural gas has been installed, meeting tons have been installed, diversifying the product portfolio and 80-85% of the
Slide 26: Environment and safety
OVER 39 €M OF INVESTMENTS SINCE 2012 GREEN OLEO # 26 ENVIRONMENT AND SAFETY ENVIRONMENT SAFETY The surface of MAG80, covering 3,700 m², was coated The installation of new pipe racks has allowed for a more orderly with TiO₂ photocatalytic technology, a catalytic paint and safe management of the posit
Slide 27: Production plant
A «SUSTAINABLE BY DESIGN» COMPANY GREEN OLEO # 27 PRODUCTION PLANT Both the high versatility of the systems in processing a wide PRODUCTION PLANTS variety of feedstock and the know-how allow to create _________________________ solutions ad hoc to quickly intercept the needs of an evolving FROM 2012
Slide 28: Target markets
A «SUSTAINABLE BY DESIGN» COMPANY GREEN OLEO # 28 TARGET MARKETS APPLICATIONS WITH GREATER ADDED VALUE OTHER APPLICATIONS Customization and maximization of product quality Standardization, increase in volumes, creation of economies of scale Cosmetics Lubrication Intermediates for industry Plastic an
Slide 29: Product carbon footprint (PCF) cradle-to-gate
A «SUSTAINABLE BY DESIGN» COMPANY GREEN OLEO # 29 PRODUCT CARBON FOOTPRINT (PCF) CRADLE-TO-GATE GREEN OLEO provides to customers PCF cradle-to-gate of its products. Derivatives Olive oil “Halve greenhouse gas impact of our from Upcycling products across the lifecycle by 2030.” The PCF of olive oil d
Slide 30: Volume and revenue trend
HISTORICAL FINANCIAL PERFORMANCE GREEN OLEO # 30 VOLUME AND REVENUE TREND VOLUMES (K t) 2024 47 49 48 • focus on Volumes to generate economies of scale: 39 39 48K t, +24% • Revenues 71.2 €M, +18% thanks to the different product mix 2023 reached 3 important results: • Volumes unchanged compared to 20
Slide 31: Volume and revenue trend: growth rates by product
HISTORICAL FINANCIAL PERFORMANCE GREEN OLEO # 31 VOLUME AND REVENUE TREND: GROWTH RATES BY PRODUCT ESTERS Results confirm the validity of 70% 57% 64% 135% 107% the strategy 44% 55% pursued over 18% these years: 2021 2022 2023 2024 2021 2022 2023 2024 downstream VOLUMES (K t) REVENUES (€M) integratio
Slide 32: Income statement
HISTORICAL FINANCIAL PERFORMANCE GREEN OLEO # 32 INCOME STATEMENT €M 2020 2021 2022 2023 2024 Revenues from sales 41.0 62.0 80.8 60.6 71.2 Changes in inventories 0.8 2,2 2,2 (2.6) 0.0 Other income 1.7 1.3 3,4 4.6 0.9 Production Value 43.4 65.4 86.4 62.6 72.1 Raw material costs (29.2) (44.4) (55.3) (
Slide 33: Balance sheet
HISTORICAL FINANCIAL PERFORMANCE GREEN OLEO # 33 BALANCE SHEET €M 2020 2021 2022 2023 2024 €M 2020 2021 2022 2023 2024 Intangible fixed assets 0.7 0.7 0.7 1.3 1.2 Cash (0.6) (1,1) (2.0) (1.9) (2.5) Tangible fixed assets 20.3 21.6 24.3 23.6 23.2 Financial fixed assets 0.0 0.0 0.4 0.1 0.1 Other curren