Sit S.p.a. · MIL:SIT
Sit — FY2017 Earnings Presentation
12 slides from Sit's earnings presentation, Mar 21, 2018
Slide 1: 2017FY - Results presentation
2017FY - Results presentation March 21, 2018
Slide 2: Disclaimer
Disclaimer • This presentation has been prepared by SIT S.p.A. only for information purposes and for the presentation of the Group’s results and strategies. • For further details on the SIT Group, reference should be made to publicly available information. • Statements contained in this presentation
Slide 3: 2017FY - Key financial results
2017FY - Key financial results (Euro.000) 2017 % 2016 % diff% • Revenue growth of 12,4% is all organic: Revenues 323.958 100,0% 288.138 100,0% 12,4% - Heating, +24,2€ +9,7% EBITDA Adjusted (1) 45.847 14,2% 44.622 15,5% 2,7% - Smart Gas Metering ,+11,7€ +31,1% EBITDA 44.093 13,6% 43.212 15,0% 2,0% •
Slide 4: Sales bridge
2017FY - Sales bridge Euro millions 7,1 2,3 324,0 45,3 288,1 2016FY Vol/Mix Prices Forex 2017FY 4
Slide 5: Sales breakdown by division and geography
2017FY - Sales breakdown by division and geography Divisional sales Euro.000 2017 % 2016 % diff % Heating 273.997 84,6% 249.790 86,7% 9,7% 5Y Revenues Smart Gas Metering 49.459 15,3% 37.740 13,1% 31,1% CAGR: 7,7% Total product sales 323.455 99,9% 287.530 99,8% 12,5% only internal Service sales 502 0
Slide 6: Heating sales growth driven by emerging markets
2017FY - Heating sales growth driven by emerging markets Heating product sales by application Euro.000 2017 % 2016 % diff % Central Heating 177.838 64,9% 153.823 61,6% 15,6% Direct Heating 49.978 18,2% 48.353 19,4% 3,4% Storage Water Heating 17.337 6,3% 17.798 7,1% -2,6% Catering 10.977 4,0% 11.227
Slide 7: Smart Gas Metering confirms growth trend
2017FY - Smart Gas Metering confirms growth trend Smart Gas Metering product sales by application Euro.000 2017 % 2016 % diff % Residential 46.457 93,9% 35.988 95,4% 29,1% Commercial & Industrial 2.779 5,6% 1.722 4,6% 61,4% Other 224 0,5% 30 0,1% - Total product sales 49.459 100,0% 37.740 100,0% 31,
Slide 8: EBITDA Adjusted bridge
2017FY – EBITDA Adjusted bridge Euro millions 0,6 2,3 1,0 5,8 0,7 45,8 44,6 EBITDA Vol/Mix Prices, net Operations Forex, net Other EBITDA Adj FY16 Adj FY17 8
Slide 9: Financial charges
2017FY – Financial charges Euro.000 2017 2016 diff Net financial charges - reported 46.968 19.722 27.246 Fair value accounting effect of merger 31.321 - Net financial charges - Adjusted 15.647 19.722 (4.075) Reported financial charges include: Write off of amortized cost 7.509 4.289 Unwinding of int
Slide 10: Net financial position
2017FY – Net financial position BoP NFP/EBITDA Adj: 2,8x Euro millions EoP NFP/EBITDA Adj : 1,4x 124,8 7,8 8,0 10,8 17,3 48,1 6,5 48,4 2,4 65,1 NFP 2016 Current Change Capex, net Interest Amortized Equity SPAC Forex NFP 2017 Cash flow in NWC paid cost write increase merger, net translation off reser
Slide 11: Net trade working capital
2017FY – Net trade working capital Euro.000 2017 2016 diff Inventory 38.130 38.490 (360) Accounts receivables 52.126 44.660 7.466 Accounts payables 68.367 59.965 (8.402) Reported Net Trade Working Capital 21.889 23.185 (1.296) NTWC / Revenues 6,8% 8,0% (1,2%) Non recourse factoring 9.098 10.000 (902
Slide 12: Contacts
Contacts Paul Fogolin Chief Financial Officer & Investor Relator [email protected] SIT S.P.A. Viale dell'Industria 31-33 - 35129 Padova (Italy) Ph. + 39 049 8293.111 Fax + 39 049 8070093 www.sitgroup.it 12