Aquafil Spa · MIL:ECNL
Aquafil Spa — Investor Presentation (March 2018)
35 slides from Aquafil Spa's investor presentation, March 2018
Slide 1: Aquafil Corporate Presentation March 2018
Corporate Presentation AQUAFIL Corporate Presentation March 2018 1
Slide 2: Disclaimer
Disclaimer This document has been prepared by Aquafil S.p.A. (“Aquafil” or “Company”) solely to introduce the Company and its business. Neither this presentation nor any part or copy of it may be transmitted into the United States or distributed, directly or indirectly, in the United States, Austral
Slide 3: Aquafil at a Glance
Aquafil at a Glance • Market Leader in Nylon Fibers and Polymers: - Flooring solutions; - Fashion and sportswear textile applications; - Polymers for engineering plastics solutions; • Technologies, processes and continuous innovation key to a successful business model - R&D focus for a uniquely dive
Slide 4: Aquafil's Value Chain
Aquafil’s Value Chain Raw materials Production Distribution Clients Final Application BCF Flooring Solutions Selected Manufacturers Application Users Production and finishing of Standard Caprolactam premium synthetic yarns, Direct sale / Contract • Nylon 6 monomer principally Nylon 6, for agents (bu
Slide 5: More than 50 Years of Growth Key Milestones
More than 50 Years of Growth Key Milestones Listing in Italian Stock Exchange Milan Doubling of Production Capacity in China Acquisition of Xentrys from Domo Chemicals The ECONYL® plant in Slovenia begins producing Establishment of Aquafil Asia Pacific in Thailand 2017 Acquisition of Julon 2014 in S
Slide 6: Global Footprint with proximity to Clients
Global Footprint with proximity to Clients USA ITALY SLOVENIA Cartersville (Georgia) Arco (TN) Ljubljana Aquafil USA 1 & 2 Aquafil (Headquarter) AquafilSLO Ljubljana Phoenix (Arizona) Cares (TN) Senozece Aquafil Carpet Recycling #1 Rovereto (TN) AquafilSLO Senožeče Tessilquattro Store AquafilSLO Što
Slide 7: Fiber for flooring, for fashion and polymers
Fiber for flooring, for fashion and polymers Key Applications Contribution to Revenues 2017 European Market Shares(1) A Contract 29% 30% 28% BCF Flooring Solutions Residential c. 70% 2014 2015 2016 Automotive B Clothing & Fashion 13% 13% 13% NTF Textile Applications Swimwear c. 17% Sportswear 2014 2
Slide 8: BCF – Flooring Solutions
BCF – Flooring Solutions A BCF Flooring Solutions 2016 Market Share(1) Comments Contract Tiles Contract Wall-to-wall • Aquafil dominating the consolidated and c. 40% growing European contract market thanks c. 65% to: – Technology mastering Europe – Ability to provide small batches in very 2016 Marke
Slide 9: BCF – Flooring Solutions (USA and China)
BCF – Flooring Solutions A BCF Flooring Solutions 2016 Market Share(1) Comments Automotive Contract USA 8% 7% • Challenger status, with 2 independent players • Automotive dominated by 3 players • Integrated players make more than 80% of the contract segment 2016 Market Size 16-21E CAGR 2016 Market S
Slide 10: Best-in-class BCF commercial offer
BCF – Flooring Solutions A BCF Best-in-class BCF commercial offer Flooring Solutions • More than 20,000 SKUs • Approximately 5,000 references renewed each year Product Range • The only supplier of 100% regenerated ECONYL® fibers and polymers • Broad proprietary color range • Specialty polymers • Car
Slide 11: BCF Brands using Aquafil Econyl Fibers
BCF – Flooring Solutions BCF Brands using Aquafil Econyl® Fibers 11
Slide 12: NTF - Textile Applications
NTF - Textile Applications B NTF Global NTF Market(1) (2016) Aquafil NTF Market Share(1) in Europe (2016) Textile Applications Player #1 2016 Market Size APAC North America 80% 5% c. 150kt c. €620m 13% EU 8% Others Player #3 2016 Aquafil Revenues RoW Player #4 c. €89m(2) 8% Player #5 Entirely Player
Slide 13: NTF - Textile Applications client portfolio
NTF - Textile Applications B NTF Textile Applications Successful client portfolio thanks to a wide, competitive and diversified product offering • 90% + utilization Flexible & Competitive • Low labor, energy and logistic cost Asset Base • High level of automation in state of the art plants • Consoli
Slide 14: ECONYL Regenerated Fiber and Dryarn
NTF - Textile Applications B NTF Textile Applications ECONYL® Regenerated Fiber Dryarn®: a Successful High-performance Fiber • 100% regenerated & regenerable nylon fiber • Dryarn® is a niche, high-end fiber for sportswear and technical underwear applications • Fully recognized by a large and growing
Slide 15: EP Solutions
EP Solutions C EP Description Engineering Plastic • Aquafil manufactures nylon 6 and raisin pellet polymers for compounders – Once the polymer has been transformed into a techno-polymer, compounders sell the semi-finished product to the industrial molding companies, which Compounders model it based
Slide 16: Econyl: 100% regenerated & regenerable nylon fiber
Econyl® 100% regenerated & regenerable nylon fiber, unique proprietary technology and high barriers to entry 4 1 WWW.ECONYL.COM Twitter: @ECONYL Instagram: @ECONYLBRAND PINTEREST: ECONYL® YOUTUBE: ECONYL® 3 2 16
Slide 17: Econyl regeneration sources and carpet waste treatment
Econyl® 100% regenerated & regenerable nylon fiber LDR(1) Nylon 6 PROCESS WASTE 1990 1998 2007 2011 Recovery of the Lactamic Waters Recovery of Internal Nylon 6 Discards Pre-consumer Discards Pre-and Post-Consumer Discards US Carpet Waste Treatment Plant Fishing Nets Recovery ARC #1 (Phoenix) – ARC
Slide 18: The ACR#1, ARC#2, ARC#.. a new model for business
Econyl® The ACR#1, ARC#2, ARC#.. a new model for business….. Carpet Production in Carpet waste recycled 2017 We could cover back in a closed loop 1% 1350 Km2 the city of Los Angeles An unique and efficient solution for nylon 6 carpet regeneration, the AQUAFIL CARPET RECYCLING #ACR 1, located in prox
Slide 19: Technological Leadership
Technological Leadership Technology mastering increasing barriers to entry • High speed spinning technology, with high reliability and unmatched finishing technologies (cabling, heat-setting) developed internally High Productivity • Development of IT tools (e.g. to optimize color change in spinning)
Slide 20: Entrepreneurial Talent and Strong Management
Entrepreneurial Talent and Strong Management Giulio BONAZZI Chairman Chief Executive Officer and President of BCF Area Asia Pacific Fabrizio CALENTI Executive Director – Adriano VIVALDI President of Executive Director NTF & ECONYL® Chief Financial Officer Technology Stefano LORO Sergio CALLIARI Pres
Slide 21: Key Financials: Revenues and EBITDA
Key Financials Revenues (€m) REVENUES grow in FY17 of 14%, from €482m of FY16 up to €549m reported in FY17, more than provisional data declared in Prospectus (€527m for FY17). Growth is driven both by increase of sold quantity and product mix and also by increase of selling price related with raw ma
Slide 22: Key Financials: Net Profit and Capex
Key Financials Net Profit (€m) and Margin on Revenues (%) NET PROFIT grows in 2017 of 25,3% from €20,1m up to €25,2m, considering 4,6 % also cost of listing process for €2,3m with related tax impact for €0,6m (net 4,2 effect of €1,7m). 2,9 % % Prospectus provisional data contemplate a Net Profit of
Slide 23: Key Financials: Net Financial Debt and Cash Flow
Key Financials Net Financial Debt (€m) and Net Financial Debt / EBITDA NET FINANCIAL DEBT decreases in 2017 from €118,0m of 2016 to €112,7m, 3,4 2,8 with a better level than provisional data declared in Prospectus that contemplate a Net Financial Debt level of €122,0m for the end of 2017. 1,8 The NE
Slide 24: Key Financials: Net Working Capital
Key Financials Net Working Capital (€m) composition 94,2 92,0 68,9 88,0 24
Slide 25: Key Financials: Net Invested Capital and Equity
Key Financials Net Invested Capital (€m) & Adjusted ROI (1) Equity (€m) & ROE(2) (%) 25 (1) Calculated as adjusted EBIT / Net Invested Capital. (2) Calculated as Net Profit / Total Shareholders’ Equity.
Slide 26: Capital Overview
Capital Overview A capital structure with 3 type of Shares (a) Ordinary Share, (b) share B: dedicated to Giulio Bonazzi family with the same economic right of ordinary share but with 3 voting right for any share and (c) share C: no transferable, no economic and voting right but at certain conditions
Slide 27: Governance
Governance Board of Statutory Auditors Stefano Poggi Longostrevi Chairman Board of Directors Giulio Bonazzi Chairman and CEO Fabio Buttignon Fabrizio Calenti Statutory Auditor Adriano Vivaldi Executive Director Executive Director Silvana Bonazzi Franco Rossi Director Executive Director Bettina Solim
Slide 28: Appendix
/A@UAFIL TIX synthetic fibres and polymers APPENDIX 28
Slide 29: Income Statement 2017 - 2016
Income Statement 2017 - 2016 CONSOLIDATED INCOME STATEMENT FY17 of which FY16 of which €/000 no recurrent no recurrent Revenue 549.331 ( 0) 481.996 0 of which related parties 297 881 Other Revenue 260 260 339 339 Total Revenue and Other Revenue 549.591 260 482.335 339 Raw Material ( 289.169) ( 1.131
Slide 30: Balance Sheet 2017 - 2016
Balance Sheet 2017 - 2016 CONSOLIDATED BALANCE SHEET FY17 FY16 €/000 Intangible Assets 7.782 5.639 Tangible Assets 153.927 147.324 Financial Assets 408 2.017 of which related parties 79 79 Investments Measured at Equity - 0 1.100 Deferred Tax Assets 11.356 8.924 Total Non-Current Assets 173.472 165.
Slide 31: Cash Flow Statement 2017 - 2016
Cash Flow Statement 2017 - 2016 CASH FLOW STATEMENT FY17 FY16 €/000 Operation Activities Net Profit (Including Portion Attr. to Minority ) 25.216 20.129 of which related parties (4.094) (2.081) Income Taxes 1.625 6.990 Income (loss) from Investments (50) 1.167 Other Financial Income (219) (718) of w
Slide 32: Net Financial Debt 2017 - 2016
Net Financial Debt 2017 - 2016 NET FINANCIAL DEBT FY17 FY16 €/000 A. Cash 99.024 80.545 B. Other cash equivalents - - C. Securities held-for-trading - - D. Liquidity ( A + B + C) 99.024 80.545 E. Current financial receivables 988 38.509 F. Current bank loans and borrowing ( 72) ( 521) G. Current por
Slide 33: EBITDA and EBIT Adjusted 2017 - 2016
EBITDA and EBIT Adjusted 2017 - 2016 EBITDA and EBIT Adjusted FY17 FY16 €/000 Net Profit (Including Portion Attr. to Minority ) 25.216 20.129 Income Taxes 1.625 6.990 Income (loss) from Investments (50) 1.167 Amortisation & Depreciation 24.229 24.071 Write-downs & Write-backs of intangible and tangi
Slide 34: Nylon 6 fiber – Manufacturing Process
Nylon 6 fiber – Manufacturing Process 34
Slide 35: Aquafil Investors Contact
AQUAFIL INVESTORS CONTACT Karim Tonelli Investor Relations and Performance Management Director investor.relations@aquafil.com - mob: +39 348 6022.950 Barabino & Partners IR T: +39 02 72.02.35.35 Stefania Bassi - s.bassi@barabino.it - mob: +39 335 6282.667 Agota Dozsa - a.dozsa@barabino.it - mob: +39