Marr Spa · MIL:MARR

Marr Spa — Cremonini — FY2003 Earnings Presentation

9 slides from Marr Spa's earnings presentation, Feb 26, 2004

  1. Slide 1: STAR Company Results 2003

    STAR COMPANY RESULTS 2003 Results as at December 31, 2003 Milan - February 26, 2004 1

  2. Slide 2: Group's overview

    Group’s overview Cremonini Family Floating 57.2% 42.8% CREMONINI SPA Consolidated Revenues as at 31/12/2003: Euro 1,786.2 mln Market Leaderships 46% 41% ¾ 1° Italian Beef Market Production Distribution E uro 859.9 mln E uro 744.2 mln ¾ 1° Italian Food Service Distribution Market ¾ 1° Italian Railway

  3. Slide 3: Consolidated P&L

    Consolidated P&L 2000 % 2001 % % 01/00 2002 % % 02/01 2003 % % 03/02 (in millions of Euro) Total Revenues 1,388.7 100 1,364.9 100 (1.7%) 1,589.3 100 + 16.4% 1,786.2 100 +12.4% EBITDA 66.1 4.8 85.4 6.3 + 29.2% 107.0 6.7 + 25.3% 117.7 6.6 +9.9% Depreciation and Write-downs (45.5) (3.3) (48.3) (3.5) +

  4. Slide 4: P&L by sector

    P&L by sector GROWTH 03/02 TOTAL REVENUES 859.9 EBITDA - EBIT (mln/euro) (mln/euro) PRODUCTION 713.1 760.1 599.3 52.6 47.9 30.6 ƒ REVENUES + 13.1% 14.6 19.5 21.8 ƒ EBITDA + 10.0% -9.1 5.3 ƒ EBIT + 11.8% 2000 2001 2002 2003 2000 2001 2002 2003 TOTAL REVENUES EBITDA - EBIT (mln/euro) 744.2 (mln/euro)

  5. Slide 5: Balance Sheet and Net Debt

    Balance Sheet and Net Debt (in millions of Euro) 2000 2001 2002 2003 Intangible assets 131.4 122.2 122.7 104.7 Tangible assets 393.2 391.0 387.8 391.9 Financial assets 35.1 34.6 31.9 25.8 TOTAL FIXED ASSETS 559.7 547.8 542.5 522.4 NET WORKING CAPITAL 166.6 190.8 162.1 218.2 NET CAPITAL EMPLOYED 689.

  6. Slide 6: Reconciliation of Net Debt

    Reconciliation of Net Debt (mln/euro) 25.4 60.1 487.8 93.0 35.7 3.4 451.1 Acquisitions 52.7 • 8.5 Mln/Euro purchase of Ibis plant • 3.0 Mln/Euro purchase of bresaola and speck production plant • 2.7 Mln/Euro purchase of land and buildings for veal calf raising • 7.7 Mln/Euro purchase of 50% of Moto

  7. Slide 7: Key Financial Ratios

    Key Financial Ratios EBITDA/ NET FINANCIAL EXPENSES NET DEBT/EBITDA NET DEBT/EQUITY 4.6 7.6 6.2 3.1 3.3 2.6 2.8 2.3 4.6 2.0 3.8 1.8 2000 2001 2002 2003 2000 2001 2002 2003 2000 2001 2002 2003 KEY FINANCIAL RATIOS 2000 2001 2002 2003 ROS (Ebit / Revenues) 1.5% 2.7% 3.3% 3.5% ROI (Ebit / Net Capital E

  8. Slide 8: Development lines 2004

    Development lines 2004 PRODUCTION DISTRIBUTION CATERING INDUSTRIAL STRATEGIES: INDUSTRIAL STRATEGIES: INDUSTRIAL STRATEGIES: ON BOARD ƒ Consolidation of market shares ƒ Consolidation of market shares ƒ Take-over in the management ƒ No new acquisitions ƒ Acquisition of local operators of the logistic

  9. Slide 9: Contacts

    Contacts PAOLO LUALDI – Finance Director tel. +39 059 754 614 fax +39 059 754 645 E-mail lualdi@cremonini.com ANDREA BARBOLINI - Investor Relator tel. +39 059 754 610 fax +39 059 754 645 E-mail barbolini@cremonini.com CREMONINI S.P.A. Via Modena 53 - 41014 CASTELVETRO (MO) tel. +39 (059) 754 611 fax

Cremonini — FY2003 Earnings Presentation on 6ix