Elica S.p.a. · MIL:ELC
Elica — Q3 2017 Earnings Presentation
11 slides from Elica's earnings presentation, 2017
Slide 1: Q3 2017 Interim Results
Q3 2017 Results Q3 2017 Interim Results 1
Slide 2: Q3 '17 Highlights
Q3 2017 Results Q3 ‘17 Highlights ▪ Market demand continue to increase (+3.2%) ▪ Net Sales increase 9.0%, driven by Own brand business performance +11.9% ▪ EBITDA adjusted* flat, positively impacted by increasing volume trend, negatively impacted by production efficiency ▪ Net Financial Position at
Slide 3: Q3 '17 - Cooker Hoods Industry Unit Shipments
Q3 2017 Results Q3 ‘17 - Cooker Hoods Industry Unit Shipments* Volume Data_ Change % vs. Y-1 Q3 ‘17 Q1 ’179M ‘17 EMEA 4.1% 2.9% Americas 1.8% 2.7% Asia 2.9% 1.8% World 3.2% 2.3% * Elica Group Estimates 3
Slide 4: 9M 2017 Sales Breakdown by Geography
Q3 2017 Results 9M 2017 Sales Breakdown by Geography Change % vs Y-1 9M ‘17 EMEA 10.9% Americas 9.7% Asia 17.1% Total 11.4% 4
Slide 5: 9M '17 Consolidated Income Statement
Q3 2017 Results 9M ‘17 Consolidated Income Statement €M 9M ’17 9M ’16 Δ% Net Sales 357.7 321.0 11.4% EBITDA Adj 27.2 25.0 8.8% % 7.6% 7.8% (0.2) p.p. EBIT Adj 11.6 11.2 3.3% % 3.2% 3.5% (0.3) p.p. EBIT 10.1 9.4 6.4% % 2.8% 2.9% (0.1) p.p. Net Result (2.5) 3.5 (171.4)% % (0.7)% 1.1% (1.8 )p.p. EPS* –
Slide 6: Q3 '17 Consolidated Income Statement
Q3 2017 Results Q3 ‘17 Consolidated Income Statement €M Q3 ’17 Q3 ’16 Δ% Net Sales 114.9 105.5 9.0% EBITDA Adj 8.8 8.7 0.9% % 7.7% 8.3% (0.6) p.p. EBIT Adj 3.7 4.0 (8.9)% % 3.2% 3.8% (0.6) p.p. EBIT 3.4 2.3 45.4% % 2.9% 2.2% 0.7 p.p. Net Result (3.7) 0.7 (657.0)% % (3.2)% 0.6% (3.8) p.p. EPS* – Euro
Slide 7: 9M '17 Marginality Key Drivers
Q3 2017 Results 9M ‘17 Marginality Key Drivers Change vs. Y-1 9M ‘17 Volume/Price/Mix +++ Operations efficiency -- Currency + Cost efficiency -- EBITDA Adj 2.2 7
Slide 8: Net Working Capital as of September 30
Q3 2017 Results Net Working Capital as of September, 30 €M 12M’13 Q3 ‘17 12M’13 Q3 ‘16 Δ Trade receivables 82.5 68.8 13.7 % on annualized sales 17.3% 16.1% 1.2 p.p. Inventories 75.5 69.4 6.1 % on annualized sales 15.8% 16.2% (0.4) p.p. Trade payables (121.7) (108.5) (13.1) % on annualized sales (25.
Slide 9: Consolidated Cash Flow as of September 30
Q3 2017 Results Consolidated Cash Flow as of September, 30 €M 9M ’17 9M ’16 Operating Cash Flow 12.0 15.8 CapEx (18.7) (19.2) M&A operations (3.5) 0.0 Cash Flow from Financing Activities (5.4) (5.8) FX impact on NFP 0.2 (0.4) ∆ Net Financial Position (15.4) (9.5) 9
Slide 10: Consolidated Statement of Financial Position as of September 30
Q3 2017 Results Consolidated Statement of Financial Position as of September, 30 €M 2017 2016 2017 2016 Net Operating Fixed 152.7 158.6 Net Financial Position 76.2 62.5 Assets Group Equity 98.2 111.1 Net Working Capital 24.0 20.5 Minorities 4.2 5.8 Total Shareholders’ 102.4 117.0 Net Financial Asset
Slide 11: Guidance 2017 Revised
Q3 2017 Results Guidance 2017 Revised ▪ Group Net Sales growth from +6.8% to +9.0% ▪ EBITDA Adj* growth from +8% to +13% ▪ EBIT Adj* growth from -15% to +10% ▪ Net Financial Position 74.8 M€ ▪ RONA** from 5.6% to 7.0% 11 * Data adjusted by non-core business items ** Calculated as EBIT on Net Capital