Lion Capital S.A. · BVB:LION

Lion Capital — SIF Banat-Crișana (SIF1) — H1 2019 Earnings Presentation

18 slides from Lion Capital's earnings presentation, 2019

  1. Slide 1: Investor Presentation, Half Year 2019

    — INVESTOR PRESENTATION, HALF YEAR 2019 — This presentation is intended for the information of the recipient and cannot be reproduced, copied or re-transmitted and is subject to update, completion, revision and amendment and such information may change materially. The information contained in this p

  2. Slide 2: Company background and history

    • closed-end investment company, self managed, authorized as alternative investment fund manager (AIFM) • successor of Private Ownership Fund I Banat-Crișana (FPP I) • in 1991, 30% of state stakes in companies were transferred to five regional funds of private ownership (FPPs) (Law no. 58/1991) • se

  3. Slide 3: Share capital and key listing data

    Share capital Part of BVB indices RON 51,746,072.40 BET-XT, BET-FI, BET-BK, BET-XT-TR Total number of shares ISIN code 517,460,724 ROSIFAACNOR2 Outstanding shares Bloomberg ID 517,371,068 SIF1:RO Nominal value of share Reuters ID RON 0.1000 SIF1.BX Trading market Market capitalization Bucharest Stoc

  4. Slide 4: Shareholders' Structure H1 2019

    SHAREHOLDERS’ STRUCTURE ■ 40.34% ■ 37.98% Romanian individuals Romanian legal entities H1 2019 ■ 0.34% ■ 21.33% non-resident individuals non-resident legal entities ■ 0.02% treasury stock following an unfinished buyback program in 2018, for a stock option plan OWNERSHIP THRESHOLD: 5% of share capita

  5. Slide 5: NAV and Market Capitalization

    NAV AND MARKET CAPITALIZATION RON m SIF1 net asset value SIF1 market capitalization 2,593 2,502 2,500 2,228 1,857 1,920 1,900 1,597 1,604 1,297 1,317 1,300 1,440 1,195 1,017 1,056 700 926 666 709 715 496 100 2011 2012 2013 2014 2015 2016 2017 2018 H1 2019 values at year end; market capitalization ca

  6. Slide 6: Net Profit and buy-back programs

    NET PROFIT net profit (calculated acc. to RAS until 2014, IFRS 2015-2018) 140 134.17 RON m 120 107.45 100.51 100 80.14 75.32 81.36 77.19 80 63.01 69.55 60 50.79 40 20 0 2011 2012 2013 2014 2015 2016 2017 2018 H1 2018 H1 2019 BUY-BACK PROGRAMS 2016: a buy-back program for 5.62% of the share capital w

  7. Slide 7: Assets Under Management

    ASSETS UNDER MANAGEMENT asset class breakdown ■ listed shares* value RON 1,745.6 m 70% ■ unlisted shares 1% value RON 203.6 m ■ unlisted non-UCITS securities 7% value RON 300.5 m total assets under management 2% ■ corporate bonds RON 2,506 m value RON 59.5 m 12% ■ bank deposits and cash available va

  8. Slide 8: Stock Portfolio

    STOCK PORTFOLIO sector breakdown 7.7% ■ banking - financials 4.8% 56% worth RON 1,091.09 m ■ pharmaceuticals worth RON 131.28 m 6.7% ■ commerce - real estate 6.8% worth RON 200.27 m ■ tourism & public food services RON 1,949 m worth RON 94.37 m 7.7% ■ energy-utilities worth RON 149.63 m ■ other indu

  9. Slide 9: Top Companies in Portfolio

    TOP 10 COMPANIES IN PORTFOLIO value of stake held % of Company (ticker) sector holding by SIF1 NAV (RON m) 1. BANCA TRANSILVANIA (TLV) banking - financial 4.52% 520.99 20.82% 2. ERSTE GROUP BANK AG (EBS) banking - financial 0.34% 223.33 8.93% 3. BRD - GROUPE SOCIÉTÉ GÉNÉRALE (BRD) banking - financia

  10. Slide 10: Top Listed Companies in Portfolio

    TOP 10 LISTED COMPANIES IN PORTFOLIO value of stake held % of Company (ticker) sector holding by SIF1 NAV (RON m) 1. BANCA TRANSILVANIA (TLV) banking - financial 4.52% 520.99 20.82% 2. ERSTE GROUP BANK AG (EBS) banking - financial 0.34% 223.33 8.93% 3. BRD - GROUPE SOCIÉTÉ GÉNÉRALE (BRD) banking - f

  11. Slide 11: Top Unlisted Companies in Portfolio

    TOP 10 UNLISTED COMPANIES IN PORTFOLIO value of stake held % of Company sector holding by SIF1 NAV (RON m) 1. SAI MUNTENIA INVEST other financial intermediations 99.98% 48.76 1.95% 2. ADMINISTRARE IMOBILIARE real-estate management 97.39% 39.15 1.56% 3. NAPOMAR machinery 99.43% 30.62 1.22% 4. CENTRAL

  12. Slide 12: Total revenues and gains breakdown

    0.2% 0.2% 2% 90% 0.2% ■ revenues from transactions 3% 0.1% 32% 93% (disposal of financial assets) 5% 5% total revenues ■ revenues from non-current financial assets [RON m] 9.9% total gains 2% total gains (dividends, capital increases) [RON m] [RON m] 255.5 6% 106.7 109.5 ■ interest revenues ■ other

  13. Slide 13: SIF1 vs. BET-FI

    SIF1 vs. BET-FI BET-FI (points) SIF 1 (RON) 39,699.93 40,614.38 41,000 2.5000 40,000 2.3900 RON 38,659.61 39,000 2.3100 RON 38,000 34,570.93 2.3000 35,271.00 35,371.76 37,000 2.0500 RON 36,000 35,000 2.2200 RON 2.1000 34,000 33,000 2.0400 RON 1.9600 RON 32,000 1.9000 January February March April May

  14. Slide 14: SIF1 price, NAV per share and discount

    RON/share 6.2643 70% 6.2135 6 RON 5.3421 5.2376 5.1782 5.2419 60% 5.0028 4.7638 4.8469 5 RON 4.6863 4.4488 4.9559 4.6036 4.3067 4.8103 4.3762 4.4279 4.8362 4.1048 50% 4 RON 40% 3 RON 3.0600 2.6400 2.8800 2.8000 2.6000 2.3100 2.6000 2.4500 2.4000 2.2000 2.2200 2.3600 2.5300 2.3600 2.1700 2.1000 30% 2

  15. Slide 15: Strategic priorities: SIF related and market related

    SIF RELATED • improving portfolio quality as basis for increasing its value and revenue generating capacity • active involvement in majority-owned companies to improve performance • streamline the existing portfolio with an aim to reduce exposure in minority-stake companies that do not fit in the Co

  16. Slide 16: Income statement H1 2018 vs H1 2019

    [RON] H1 2018 2018 H1 2019 REVENUES 80,794,851 114,876,610 102,542,306 Dividend income 78,752,410 110,224,602 99,295,226 Interest income 1,861,764 4,399,872 3,161,382 Other operating revenues 180,677 252,136 85,698 GAIN ON INVESTMENT Net gain on foreign exchange differences 92,770 92,468 1,088,931 N

  17. Slide 17: Financial calendar

    February 28, 2019 Publication of the preliminary annual financial results for 2018 April 22, 2019 Annual General Meeting of Shareholders for the approval of the financial statements FY 2018 April 23, 2019 Submission of 2018 Annual Report – standalone and consolidated financial statements FY 2018 May

  18. Slide 18: www.sif1.ro

    HEADQUARTERS Calea Victoriei 35A Arad 310158, ROMANIA TEL +40257 304 438 FAX +40257 250 165 EMAIL investitori@sif1.ro BUCHAREST BRANCH Calea Floreasca nr. 175, 7th floor, room A1 S1, Bucharest 014459, Romania TEL +4021 311 1647 FAX +4021 314 4487 EMAIL bucuresti@sif1.ro www.sif1.ro

SIF Banat-Crișana (SIF1) — H1 2019 Earnings Presentation on 6ix