Zignago Vetro SpA · MIL:ZV

Zignago Vetro SpA — Investor Presentation (September 2018)

15 slides from Zignago Vetro SpA's investor presentation, September 2018

  1. Slide 1: Company presentation

    Company presentation September 2018 1

  2. Slide 2: Group Structure

    Group Structure FREE FLOAT Zignago Holding S.p.A. on the (MARZOTTO FAMILY) ITALIAN STOCK EXCHANGE Santa Margherita 100% S.p.A. 65% 35% Wine producer 2017 Zignago Vetro SpA ZV Group consolidated 192,8 Mln € 346,4 Mln € 100% Zignago Power S.r.l. 100% 50% 51% Vetro Revet 100% 100% 4,7 Mln € (*) Electri

  3. Slide 3: Milestones

    Milestones Portogruaro plant: Acquisition of Specialty containers production plants, then merged into Establishment of Vetreco: F&B + C&P Vetri Speciali Cullet recycling 1987 1994 1995 2004 2013 1979 2002 2007 2011 2017 Acquisition of Empoli plant: Acquisition of VB in France: Listing on the Italian

  4. Slide 4: Presence in Selected Business Segments

    Presence in Selected Business Segments 2017 (€m) Market Segment Products Main Features Competitive Strengths Flexibility, efficiency and Food & technical know-how key for Zignago Vetro Beverage success  Flexibility Sales €192.8m Focus on selected segments  Quality Cosmetics & of food & beverage an

  5. Slide 5: Manufacturing Facilities – international presence

    Manufacturing Facilities – international presence Geographical Presence Manufacturing Locations Revenues breakdown (2017 FY) Facility Location Portogruaro, (Venice) Italy Specialty 21% Empoli (Florence) Italy Other 7% Vieux Rouen sur Bresle (Normandie) France Cosmetics Food & Trabki (Warsaw) & Bever

  6. Slide 6: Business model

    Business model Production of glass containers dedicated to a broad spectrum of sectors/markets, with a wide range of products: different colours, shapes and dimensions. High content of product innovation and customization. standard customized innovative specialty 6

  7. Slide 7: Commercial Presence and Customer Relationships

    Commercial Presence and Customer Relationships Concentration Customer rate of first loyalty1 5 clients 2 (Revenues) Zignago Vetro 16% 92% Verreries Brosse 47% 93% Vetri Speciali 25% 95% HSC 22% 87% 1 Revenues from clients present also the 2 previous years 7 2 Net of intercompany sales

  8. Slide 8: Zignago Vetro Group: Sales and Profitability Track Record

    Zignago Vetro Group: Sales and Profitability Track Record Sales and EBITDA (1988-2017) CAGR: +7,7% 346 350 319 323 Euro (m) 299 302 291 292 300 265 257 241 250 230 209 193 200 162 142 150 133 CAGR: +7,8% 104 109 90 94 93 95 92 100 82 81 77 75 71 70 71 70 67 62 64 62 66 58 57 54 49 50 40 43 40 50 33

  9. Slide 9: Financial Performance

    Financial Performance Revenues (€m) EBITDA (€m) 350 26,6% 100 25,1% 22,9% 23,6% 300 21,8% 25% 90 250 80 20% +7.3% 70 200 +5.5% +1.4% 15% +3,3% 60 92,3 346,4 150 318,5 322,9 50 80,9 10% 292,3 302,0 67,0 75,1 100 40 65,8 5% 30 50 20 0% 0 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 EBITDA (€m) Ma

  10. Slide 10: 1H 2018 Revenues & Profitability

    1H 2018 Revenues & Profitability ZIGNAGO VETRO GROUP Revenues (€m) EBITDA (€m) Net Result (€m) 200 60 27,1% 30% 25 10,6% 10,5% 12% 25,8% 25% 20 10% 150 40 20% 8% 15 100 +11.0% 189,9 15% 6% 171,1 51,4 10 44,2 18,2 20,0 20 10% 4% 50 5% 5 2% 0 0 0% 0 0% 1H 2017 1H 2018 1H 2017 1H 2018 1H 2017 1H 2018 E

  11. Slide 11: 1H 2018 Revenues & Profitability

    1H 2018 Revenues & Profitability ZIGNAGO VETRO VERRERIES BROSSE Revenues (€m) Revenues (€m) 120 35 30 90 25 60 20 +7.2% 92,0 +10.2% 101,4 15 29,5 31,7 30 10 5 0 0 1H 2017 1H 2018 1H 2017 1H 2018 EBITDA (€m) EBITDA (€m) 28,7% 19,9% 30 23,4% 30% 8 17,6% 20% 25% 20 20% 6 15% 29,1 15% 4 10% 10 21,5 10%

  12. Slide 12: 1H 2018 Revenues & Profitability

    1H 2018 Revenues & Profitability VETRI SPECIALI (50%) Huta Szkła Czechy Revenues (€m) Revenues (€m) 50 25 40 20 30 15 +4.8% 20 39,2 41,1 10 +52.7% 20,6 13,5 10 5 0 0 1H 2017 1H 2018 1H 2017 1H 2018 EBITDA (€m) EBITDA (€m) 33,4% 15 27,8% 35% 26,4% 6 24,7% 30% 30% 25% 25% 10 4 20% 20% 13,1 15% 15% 11,

  13. Slide 13: Solid Balance Sheet to Support Organic and External Growth

    Solid Balance Sheet to Support Organic and External Growth Net Capital Employed (€m) Net Working Capital (€m) 400 29,6% 120 26,0% 25,1% 24,8% 30% 350 300 100 25% 20,0% 250 80 20% 200 372,6 377,6 60 15% 311,9 102,6 101,6 150 274,6 40 76,0 79,9 80,1 10% 235,4 241,5 60,5 100 20 5% * 50 * 0 0% 0 2013 20

  14. Slide 14: Cash Flow From Operations and Capex

    Cash Flow From Operations and Capex Cash Flow from Operations (before capex) (€m) Capex (€m) 60 80 45 60 30 58,9 40 53,2 54,9 54,3 72,0 66,6 39,9 36,1 49,3 45,9 15 20 32,3 25,3 0 0 2013 2014 2015 2016 2017 1H 2018 2013 2014 2015 2016 2017 1H 2018 Capex mainly depends on furnaces refurbishment and ca

  15. Slide 15: Financial structure, EPS and dividends

    Financial structure, EPS and dividends Key financial structure ratios EPS and Dividend distribution (Euro) 2,5 2,1 1,9 2,0 1,7 1,6 1,6 1,5 1,3 1,3 1,1 1,0 0,9 1,0 1,1 1,0 0,9 0,9 0,8 0,8 0,5 0,7 0,7 0,7 0,6 0,0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Net financial debt / EBITDA Net financi

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