Banca Ifis S.p.a. · MIL:IF
Banca Ifis — Investor Presentation (2016)
14 slides from Banca Ifis's investor presentation, 2016
Slide 1: General presentation
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Slide 2: Disclaimer
Disclaimer ■ This presentation does not represent a prospectus or other offering documentation, and does not constitute or form part of, and should not be construed as, any offer or invitation to subscribe for, underwrite or otherwise acquire, any securities of Banca IFIS or any member of its group
Slide 3: Group Overview (1/2)
Annexes Banca IFIS – Group Overview (1/2) Banca IFIS is a ● Founded in 1983 by Sebastien Egon Shareholder structure as of 31st December 2015 specialty finance Furstenberg, the current chairman, as a Italian player, financial company focused on focused on trade offering factoring to SMEs Free-Float r
Slide 4: Group Overview (2/2)
Annexes Banca IFIS – Group Overview (2/2) Strong and well diversified business model built on Banca IFIS’ core expertise as a trade receivable player DRL ≈ 23.8% as of 31 December 15 NBI (excl. G & S) ● Acquisition and management of retail Unsecured 23.80% Distressed Loan portfolios Trade Receivable
Slide 5: Trade Receivables Business (1/2)
Annexes Banca IFIS – Trade Receivables Business (1/2) Trade receivable financing Focus on SMEs and micro companies in B2B, leading currently position in the Pharma segment represents ca. 3/4 of the Group’s Net Very low competition in the B2B Segment Public Administration/Pharma segment Banking Incom
Slide 6: Trade Receivables Business (2/2)
Annexes Banca IFIS – Trade Receivables Business (2/2) Loans to customers CAGR of 14.6% over the last 10 years Total receivables managed at FY'15 breakdown by type of products 76% of IFIS’s B2B (Eu 2,322 mn) PA (Eu 1,255 mn) Group (Eu 3,577 mn) B2B book acquired with Without recourse, ie risk Without
Slide 7: Distressed Retail Loans Business
Annexes Banca IFIS – Distressed Retail Loans Business Most accelerated growth among B. IFIS Business ● Banca IFIS is the only large integrated Banca IFIS – DRL Managed Receivables (Gross BV) – Eu bn Banca IFIS is the leading player in player in Italy involved in both the acquisition of DRL and in ma
Slide 8: Tax Receivables Business
Annexes Banca IFIS – Tax Receivables Business Market leader ● Banca IFIS operates in this segment through the Fast finance business unit, whose activity mainly Tax receivables is consists of the purchase of tax receivables arising from insolvency proceedings a relatively small segment, which ● The p
Slide 9: Financial Highlights 2012-2015
Annexes Banca IFIS – Financial Highlights 2012-2015 Strong track record in growth, showing an NBI (net of carry trade) CAGR of 19.7% over the last four years Banca IFIS’s track record Net Banking Income (Eu mn) breakdown by segment is strong and shows significant growth in all businesses, both in th
Slide 10: Net Profit Breakdown
Annexes Banca IFIS – Net Profit Breakdown Eu mn 39,0% Trade receivables NBI 408 42,0% Governance & Services Provisions 34 5,0% Operating 14,0% 128 Tax costs DRL receivables Taxes 84 Trade receivables KPIs: FY'2015 ● Turnover: Eu 10.1 bn (+21.8% vs FY'2014) Net profit 162 1.6% (vs FY'2014: 1.9%) ● NB
Slide 11: Asset structure & Credit Quality
Annexes Banca IFIS – Asset structure & Credit Quality Strong credit quality with a cost of risk of 90 bps as of Dec. 2015 FY'2015 Asset structure Credit Quality (net figures) – Eu mn FY'2015 Total Assets (Eu 6,8 bn) breakdown 58,2 43,8 Other Assets 39,5 35,8 Due from banks 2,1% 33,0 31,0 1,5% Loans
Slide 12: Focus on funding
Annexes Banca IFIS – Focus on funding Steady and consistent online funding ● % of Retail Funding on Total Funding further increased on a Funding breakdown - Data in Eu mn 2014A 2015A Ch. % relative basis at December of FY2015 Retail Funding 3,314 3,113 -6.1% Wholesale funding - Due to banks 2,259 66
Slide 13: Positioning in the Italian Factoring Market
Annexes Positioning in the Italian Factoring Market Banca IFIS is among the top 5 players in a concentrated market with competitors split between large commercial banks driven Market Structure by Receivables Outstanding ● The top 5 players account for Q1-16 Dec-15 Growth c.70% of total outstanding R
Slide 14: Key Transaction Highlights
Key Transaction Highlights Success of the 5 years ago acquisition From a niche to a leader in the relative market Acquisition of Toscana Finanza Group - specialized in the management of distressed loans - in 2011 and integration into Banca IFIS by the beginning of 2012 in order to reinforce and deve