Cir S.p.a. - Compagnie Industriali Riunite · MIL:CIR
Cir S.p.a. - Compagnie Industriali Riunite — CIR S.p.A. - Compagnie Industriali Riunite — Q3 2020 Earnings Presentation
19 slides from Cir S.p.a. - Compagnie Industriali Riunite's earnings presentation, October 2020
Slide 1: CIR 3Q2020 results
CIR 3Q2020 results October 2020
Slide 2: Executive summary Group
Group Executive Consolidated KOS and Sogefi summary results 2
Slide 3: Group structure and strategy
Group structure and strategy 59.5% F.lli De 31.4%* 56.6% Benedetti S.p.A. Non core & liquid assets Businesses Healthcare group specialized in Global automotive supplier of Liquid assets, Private Equity Long Term Care (“LTC”: Nursing suspensions, filtration, air Portfolio, Non Core Participations Hom
Slide 4: 3Q 2020 Highlights
3Q 2020 Highlights CIR-COFIDE merger completed 2020 GEDI disposal and 5% reinvestment completed Relevant KOS signing of Medipass disposal events Financing: new bank lines with SACE / PGE guarantees obtained by Sogefi Strong Recovery in 3Q of KOS, Sogefi and Holdco financials, after significa
Slide 5: Consolidated financials highlights – Strong recovery in third quarter
Consolidated financials highlights – Strong recovery in third quarter 1H 2019 1H 2020 3Q 2019 3Q 2020 €/M Revenues 1.031,9 829,9 496,1 499,5 In 3Q revenues improving vs 1H and flat YoY, thanks to: YoY total % change -19,6% 0,7% Sogefi recovery (-8,1% in 3Q vs -33,2% in 1H) YoY organic % change -27
Slide 6: Consolidated results
Group Executive Consolidated KOS and Sogefi summary Results 6
Slide 7: 9M 2020 Consolidated P&L main elements (1)
9M 2020 Consolidated P&L main elements (1) Revenues 9M 2019 9M 2020 9M 2019 9M 2020 % chg €/M KOS - LTC Italy Med India 379,0 339,1 -10,5% KOS - Charleston 0,0 129,7 Revenues 1.528,0 1.329,4 KOS - total 379,0 468,8 23,7% YoY total % change -13,0% SOGEFI 1.149,0 860,6 -25,1% YoY organic % change -21,
Slide 8: 9M 2020 Consolidated P&L main elements (2)
9M 2020 Consolidated P&L main elements (2) 9M 2019 9M 2020 Assets held for sale €/M 9M 2019 9M 2020 GEDI (CIR) (18,4) 0,0 Revenues 1.528,0 1.329,4 MEDIPASS (KOS) 4,8 6,9 YoY total % change -13,0% Fraize ( SOGEFI) 4,0 0,0 YoY organic % change -21,5% Total (9,6) 6,8 EBITDA 201,8 174,2 % on revenues 13
Slide 9: Group Financial Indebtedness
Group Financial Indebtedness Excluding IFRS16 €/M 31 Dec. 2019 30 Sept. 2020 KOS Group (368,0) (349,5) Net debt reduction at KOS, increase at Sogefi mainly due to WC Sogefi Group (256,3) (299,0) Net cash increase at Holdco level, thanks to GEDI disposal cash-in Other subsidiaries / IC 0,5 0,4 Su
Slide 10: Holding Balance Sheet main elements
Holding Balance Sheet main elements Non-core investments 31 Dec. 2019 30 Sep. 2020 €/M 31 Dec. Cash Fair value / 30 Sep. KOS 171,1 174,0 €/M 2019 New In other 2020 Sogefi 109,0 85,0 Private Equity 56,6 6,1 (8,7) (1,6) 52,4 Total operating companies 280,1 259,0 Other investments 11,2 12,7 (4,4) 19,5
Slide 11: KOS and Sogefi
Group Executive Consolidated KOS and Sogefi summary results 11
Slide 12: KOS - a leader in LTC with a consistent growth track record
KOS ‐ a leader in LTC with a consistent growth track record Rehabilitation // Number of beds CAGR & psychiatry 20/15: (Italy) 37 facilities 12,1% N. 1 in 12.699 Long Italian LTC Nursing 12.133 Term Homes 4.049 SHAREHOLDERS (Italy) CIR (59.53%) 52 facilities 3.844 Care F2i (40.47%) 8.157 Nursing
Slide 13: KOS – Disposal of Medipass
KOS – Disposal of Medipass KOS decided to focus its growth strategy on the core LTC markets of Italy and Germany and to dispose of non strategic assets, in order to free up financial resources On Sept 7, 2020 CIR announced the signing by KOS of a binding agreement to sell Medipass Italy and UK t
Slide 14: KOS - Summary of 9M 2020 results and outlook
KOS ‐ Summary of 9M 2020 results and outlook September YTD results €/M 9M 2019 9M 2020 Due to major Covid-19 driven disruptions in the Italian healthcare sector Number of beds 8.153 12.699 between March and May, activity collapsed in acute care and rehab, but swiftly YoY total % change 55,8% rebou
Slide 15: KOS – P&L by business
KOS – P&L by business 9M2019 9M2020 LTC Italy + LTC Italy + Medipass LTC Italy + LTC Italy + Medipass LTC Italy + LTC LTC Germany Medipass IT+UK Med India Medipass IT+UK Med India Germany €/M + Med India Number of beds 8.153 8.153 8.650 8.650 4.049 12.699 YoY total % change 6,1% 55,8% Revenues 420,3
Slide 16: KOS Italy – Revenues trend
KOS Italy – Revenues trend NH - Italy €/M 60,0 55,2 55,7 56,0 56,8 50,0 47,2 45,1 KOS Italy €/M 40,0 140,0 30,0 122,2 122,9 120,1 120,1 120,0 20,0 110,4 10,0 98,2 100,0 - 1Q 2Q 3Q YTD 80,0 +0,9% -15,8% -20,7% -11,9% 60,0 Rehab €/M 60,0 55,2 56,6 56,0 56,8 56,8 40,0 50,0 46,5 20,0 40,0 30,0 0,0 1Q 2Q
Slide 17: Sogefi – Summary of 9M results and outlook
Sogefi – Summary of 9M results and outlook September YTD results 9M 2019 9M 2020 Car production rebounded in Q3 (-3,5% vs Q3 2019), with China €/M outperforming, Nafta in line with previous year, Europe still -11% and Mercosur -21% Revenues 1.149,0 860,6 Sogefi’s sales outperformed in all refere
Slide 18: Sogefi – Revenues trend
Sogefi outperformed car production market in all reference markets Sogefi – Revenues trend except Mercosur Underperformance at Global level is mix driven (high weight of Europe) Total Europe NAFTA €/M €/M €/M 450,0 300,0 80,0 74,1 74,0 74,7 387,9 72,7 72,7 400,0 389,9 371,2 350,2 244,3 242,5 70,
Slide 19: Disclaimer
Disclaimer • This document has been prepared by CIR for information purposes only and for use in presentations of the Group’s results and strategies • For further details on CIR and its Group, reference should be made to publicly available information, including the Annual Report, the Semi- Annual a
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