Brembo N.v. · MIL:BRE
Brembo — Non-Deal Roadshow (August 2007)
30 slides from Brembo's roadshow presentation, August 2007
Slide 1: Brembo - more than brakes
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" more than brakes BREMBO - August 2007 Roadshow Scandinavia Pag. 1
Slide 2: A simple business idea
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" A simple business idea brakes in the the highest performing Producing world - August 2007 Roadshow Sca
Slide 3: Brembo at a glance
Brembo at a glance under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" • World leader in luxury and top of the range "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, automotive applications • State of th
Slide 4: Where high energy comes into play, Brembo is the reference choice
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" tons 1,0 2,0 3,0 4,0 5,0 reference choice Where high energy comes into play, Brembo is the 0 10 50 100
Slide 5: State of the art technology
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" State of the art technology - August 2007 Roadshow Scandinavia Pag. 5
Slide 6: Products: the fundamental reason to be chosen by customers
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" customers Products: the fundamental reason to be chosen by - August 2007 Roadshow Scandinavia Pag. 6
Slide 7: Our unique selling proposition
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" Bite Performance Power Repeatability Comfort Our unique selling proposition - August 2007 Roadshow Sca
Slide 8: A wide range of applications
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" A wide range of applications FY 2006 Sales Split 65,2% Cars - August 2007 Roadshow Scandinavia Motorbi
Slide 9: An effective pocket-sized multinational
An effective pocket-sized multinational under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, Over 4,500 employees are working for Brembo in 12 countries in
Slide 10: Growth, an essential part of our strategy
Growth, an essential part of our strategy under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" Sales, € million 806 800 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, 712 678 634 566 600 530 454 400 353
Slide 11: Profit Margins evolution
Profit Margins evolution (years) EBITDA % of sales EBIT % of sales NET PROFIT under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" 160 17% 14,8% "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, 16,0% 16,4
Slide 12: H1 2007 Preliminary Financials
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" H1 2007 Preliminary Financials - August 2007 Roadshow Scandinavia Pag. 12
Slide 13: Revenues grow faster than operating margins
Revenues grow faster than operating margins; net profit benefits from a decreasing tax rate and lower financial charges under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" (Summary of Consolidated Income Statement) € million H1 07 % sa
Slide 14: Q2 07: Soft revenues and increasing D&A impact Ebit
Q2 07: Soft revenues and increasing D&A impact Ebit; net profit benefits from decreasing financial charges and tax rate under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" (Summary of Consolidated Income Statement) € million H1 07 % sa
Slide 15: Revenues are driven by organic growth
"Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" Revenues are driven by organic growth € million SALES H1 2006 413,8 EXCHANGE RATES - 1,1 - August 2007
Slide 16: H1 2007 revenues: growth of all business segments
H1 2007 revenues: growth of all business segments, particularly Commercial Vehicles and Motorcycles € million under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" + 8,9% "Strictly Confidential. © Brembo S.p.A. reserves all rights of use
Slide 17: H1 2007 revenues by geography
H1 2007 revenues: Good performance of Germany, all EU countries and Brazil; Nafta reflects a weak market € million under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" +10,8% +16,7% Q2 07 "Strictly Confidential. © Brembo S.p.A. reserves
Slide 18: Income Statement
Income Statement under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million H1 07 % sales H1 06 % sales % 07/06 Sales 455,8 100% 413,8 100% 10,1% "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, EBITD
Slide 19: EBITDA H1 2007
EBITDA H1 2007: increasing raw materials costs reduce the positive contribution of growth € million under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" 0,3 2,4 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disp
Slide 20: Ebit H1 2007: higher D&A compensate Ebitda growth
Ebit H1 2007: higher D&A compensate Ebitda growth under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million 4,8 4,9 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, R&D 0,6 Polish foundry 1,2 Discs m
Slide 21: Income Statement
Income Statement under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million H1 07 % sales H1 06 % sales % 07/06 Sales 455,8 100% 413,8 100% 10,1% "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, EBITD
Slide 22: H1 2007 Financial charges
H1 2007 Financial charges under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" ∆ € Million Η1 07 H1 06 07/06 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, Net financial charges 4,3 5,4 -1,0 Financial c
Slide 23: H1 2007: Tax rate improves due to a favourable country mix
H1 2007: Tax rate improves due to a favourable country mix under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million H1 07 H1 06 Current Taxes 11,2 14,6 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposa
Slide 24: Net debt increases due to working capital and dividend payment
Net debt increases due to working capital (driven by business growth) and dividend payment under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, 2
Slide 25: Working capital
Working capital under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million H1 07 days FY 06 days H1 06 days "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, Inventory 154,2 61 146,6 66 144,6 63 Trade
Slide 26: H1 2007 Free operating cash flow is slightly negative
H1 2007 Free operating cash flow is slightly negative under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million H1 07 H1 06 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, EBITDA 68,5 63,7 Net capex
Slide 27: Net debt is covered with a balanced mix of short and M/L term liabilities
Net debt is covered with a balanced mix of short term and M/L term financial liabilities under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million 30.06. 07 31.12.06 ∆ 07/06 "Strictly Confidential. © Brembo S.p.A. reserves all righ
Slide 28: A sustainable growth path does not impact a sound financial profile
A sustainable growth path does not impact a sound financial profile under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million 30.06.2007 31.12.2006 31.12.2005 "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and d
Slide 29: Main financial ratios
Main financial ratios under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" € million 30.06.2007 31.12.2006 31.12.2005 ROI 15,5% 16,2% 15,9% "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, ROE 17,9% 16,3%
Slide 30: Declaration
under the protection of the law, also in connection with I.P.R., as well as copying and passing on to third parties" "Strictly Confidential. © Brembo S.p.A. reserves all rights of use and disposal, DECLARATION Ex art. 154/bis paragraph 2 – part IV, title III, head II, section V-bis, of Legislative D