Zignago Vetro SpA · MIL:ZV
Zignago Vetro SpA — STAR Conference 2020 Fall Edition
30 slides from Zignago Vetro SpA's conference presentation, Oct 6, 2020
Slide 1: Zignago Vetro
ZIGNAGO VETRO
Slide 2: Company Presentation & Financial Results
Company Presentation & Financial Results 06/10/2020 1
Slide 3: Summary
Summary Zignago Vetro Financial results Annex organization 3 COMPANY STRUCTURE 10 BUSINESS MODEL 13 SALES AND PROFITABILITY TRACK RECORD 21 ESG APPROACH 4 11 15 1H 2020 REVENUES & ZIGNAGO HOLDING COMMERCIAL PRESENCE PROFITABILITY 5 ZIGNAGO VETRO MILESTONES 12 SALES PER SEGMENT 16 1H 2020 REVENUES &
Slide 4: Company structure
Company structure 65% 35% Zignago Holding S.p.A. FREE FLOAT on the ITALIAN (MARZOTTO FAMILY) STOCK EXCHANGE Zignago Vetro 230,1 mln€ ZV Group consolidated 2019 data 420,5 mln€ Vetro Revet 51% 7,3 mln€ (*) Zignago Vetro Brosse Zignago Vetro Polska Vetri Speciali Zignago Glass USA 56,9 mln€ 49,4 mln€
Slide 5: Zignago Holding
Zignago Holding Zignago Vetro is the parent company of a group of glassworks. It is part of Zignago Holding S.p.A, a dynamic organization located in North-East Italy, consisting of a diversified portfolio of businesses controlled and owned by the Marzotto Family. Others Glass containers Renewable Fi
Slide 6: Zignago Vetro milestones
Zignago Vetro milestones Portogruaro Acquisition of 3 companies Acquisition of Acquisition of Plant: F&B + producing specialty Zignago Vetro Vetro Revet: C&P + Pharma containers, later merged into Polska in Poland: recycling of glass Vetri Speciali C&P + F&B cullet. 1979 1987 1994 1995 2002 2004 200
Slide 7: Business Units
Business Units 2019 (€m) MARKET SEGMENTS PRODUCTS MAIN CHARACTERISTICS COMPETITIVE ADVANTAGE Flexibility, efficiency, and technical know-how are keys to success. Flexibility ZIGNAGO VETRO Food & Beverage Sales € 230,1 Cosmetics & Perfumery Focus on selected segments of food & beverage Quality an
Slide 8: International presence
International presence Trabki, Poland Viuex Rouen sur Bresle & Paris, France Pergine Valsugana, Gardolo Ormelle San Vito al Tagliamento Italy San Vito al Tagliamento, Italy Supino, Italy Miami, USA Empoli Fossalta di Portogruaro Italy Empoli, Italy Glass companies Sales office HQ Glass recycling 202
Slide 9: Our core business
Our core business Group 429,6 Mln € Zignago Vetro Group is among the leading producers of hollow glass containers in Italy and is one of the most important players on an international level. Our main markets are: 22% - Food and Beverage 46% - Cosmetics and Perfumery - Specialty Containers 28% 4% Tha
Slide 10: Our identity
Our identity VALUES Quality Flexibility Innovation Efficiency Service Sustainabilit y MISSION Ensuring and enhancing the best products, quality and service to our valued customers, keeping a particular focus on the sustainability aspects. STRATEGY We are a dynamic Group, with a strong international
Slide 11: Business model
Business model PEOPLE An essential and distinctive element of the Group’s success. FLEXIBILITY AND EFFICIENCY Zignago Vetro Group offers products that differ greatly, ranging from standard to customized items, to those offering very significant innovations, up to the production of specialty containe
Slide 12: Commercial presence
Commercial presence Concentration rate of Customer loyalty the first 5 clients1 (revenues)2 Zignavo Vetro 15% 92% Zignago Vetro 53% 93% Brosse Zignago Vetro 27% 94% Polska Vetri Speciali 26% 73% 1 Revenues from clients present also the previous years 2 Net of intercompany sales 2020 COMPANY PRESENTA
Slide 13: Sales per segment
Sales and profitability track record Sales and EBITDA (1988-2019) CAGR: +7,9% Euro (m) 450 421 400 376 350 337 319 323 299 302 291 292 300 265 257 241 250 230 209 193 200 162 142 CAGR: +8,3% 150 133 118 104 109 94 93 95 92 104 90 100 82 77 81 71 70 71 70 75 62 64 62 67 66 58 57 54 49 50 40 43 40 50
Slide 14: Sales and profitability track record
Sales and profitability track record Revenues (€m) EBITDA (€m) 27,2% 27,7% 28,1% 450 130 30% +11.7 120 23,6% 25,1% 400 +11.7 % 110 25% 350 +4.4% +1.4% % 100 300 90 20% 250 80 15% 200 376,5 420,5 70 118,1 318,5 322,9 337,0 60 104,3 10% 150 50 80,9 91,6 100 75,1 40 5% 50 30 0 20 0% 2015 2016 2017 2018
Slide 15: 1H 2020 revenues & profitability
1H 2020 revenues & profitability ZIGNAGO VETRO GROUP Revenues (€m) EBITDA (€m) Net Result (€m) 220 -6.3% 60 30% 24 10,7% 12% 200 26,8% 24,9% 22 55 180 50 25% 20 10% 160 45 18 20% 16 7,1% 8% 140 40 120 35 14 209,7 30 15% 12 22,4 6% 100 196,4 25 56,3 10 80 48,9 20 10% 8 4% 60 15 6 14,0 40 10 5% 4 2% 2
Slide 16: 1H20 revenues & profitability by BU
1H20 revenues & profitability by BU ZIGNAGO VETRO ZIGNAGO VETRO BROSSE Revenues (€m) Revenues (€m) 120 +5.4% 35 100 30 -48.6% 80 25 20 60 109,9 115,8 32,5 15 40 10 16,7 20 5 0 0 1H 2019 1H 2020 1H 2019 1H 2020 EBITDA (€m) EBITDA (€m) 24,2% 24,2% 22,4% 30 25% 10 25% 8 20% 25 20% 15% 20 6 10% 15% 5% 1
Slide 17: 1H20 revenues & profitability by BU
1H20 revenues & profitability by BU VETRI SPECIALI (50%) ZIGNAGO VETRO POLSKA Revenues (€m) Revenues (€m) 50 -4.5% 25 -7.7% 40 20 30 15 24,0 22,2 47,8 45,6 20 10 10 5 0 0 1H 2019 1H 2020 1H 2019 1H 2020 EBITDA (€m) EBITDA (€m) 33,7% 33,7% 29,2% 16 35% 8 30% 14 23,1% 30% 25% 12 25% 6 10 20% 20% 6,5 8
Slide 18: ZV Group – Balance sheet
ZV Group – Balance sheet Net Capital Employed (€m) Net Working Capital (€m) 30,4% 29,0% 140 500 24,8% 30% 120 23,2% 400 25% 100 20% 300 80 473,3 122,0 124,4 15% 417,2 465,0 60 200 372,5 102,5 311,9 40 80,1 87,3 10% 100 20 5% 0 0 0% 2016 2017 2018 2019 1H 2020 2016 2017 2018 2019 1H 2020 Net working
Slide 19: ZV Group – Cash flow from operation & capex
ZV Group – Cash flow from operation & capex Cash Flow from Operations (before capex) (€m) Capex (€m) 90 100 75 80 60 60 45 82,6 94,3 79,1 40 72,0 30 58,3 66,0 66,1 54,3 43,4 20 15 14,9 0 0 2016 2017 2018 2019 1H 2020 2016 2017 2018 2019 1H 2020 2020 COMPANY PRESENTATION FINANCIAL RESULTS 19
Slide 20: Financial structure, EPS & dividends
Financial structure, EPS & dividends Key financial structure ratios EPS and Dividend distribution (Euro) 2,50 0,80 71% 71% 72% 74% 74% 71% 71% 2,13 2,13 71% 70% 70% 2,08 0,70 1,93 70% 2,00 0,60 1,72 0,60 1,58 1,64 0,51 0,50 0,45 60% 1,50 1,31 0,422 0,38 0,40 1,07 0,40 0,35 0,35 0,360 0,98 0,33 0,320
Slide 21: Annex: ESG Approach
Annex ESG Approach 06/10/2020 21
Slide 22: Environment, Social, Governance
Environment, Social, Governance Zignago Vetro Mission: To produce and market hollow glass containers for a range of market segments, in particular the food and beverages and cosmetics and perfumery sectors, with a particular focus on sustainability and with the aim of providing its customers with hi
Slide 23: Environment, Social, Governance
Environment, Social, Governance To fully spread and implement the sustainability principles within its business culture, Zignago Vetro has decided to build a complete ESG FRAMEWORK, which is structured as follows: - ESG GOVERNANCE: the Board of Directors has appointed an internal ESG COMMITTEE, made
Slide 24: Environment, Social, Governance
Environment, Social, Governance 2019 main Environmental achievements vs 2018: – the % of recycled glass on total raw materials has increased by +8,4% to 46,5% of total raw materials; 2019 sustainable projects and products: – the energy consumption per ton of glass produced have decreased by -5,5%; –
Slide 25: Environment, Social, Governance
Environment, Social, Governance 2019 main Social achievements vs 2018: - the employees’ headcount has increased by +3,2%; - Corporate Welfare Plan implemented in ZV Italy; - the accidents’ trend has decreased by -2,1%; - the number of training hours has increased by +1,69%; – Ecovadis: score improve
Slide 26: Environment, Social, Governance
Environment, Social, Governance Aware of its role for the sustainable development, Zignago Vetro has linked its activities to the 2030 Agenda of the United Nations, focusing mainly on the subsequent 12 Goals that are connected to 3 main pillars: Environment Social Governance PILLARS Environment Soci
Slide 27: Environment, Social, Governance
Environment, Social, Governance Regarding the pillar “Environment”, Zignago Vetro has set the following KPIs and goals: TOPIC KPIs 2019 2020 2025 Achieved Goal Goal Strategic Goal Raw materials % of recycled glass on total raw 46,5% 49% 53,2% management materials Energy consumption per ton of Δ%: -5
Slide 28: Environment, Social, Governance
Environment, Social, Governance Regarding the pillar “Social”, Zignago Vetro has set the following KPIs and goals: TOPIC KPIs 2019 2020 2025 Achieved Goal Goal Strategic Goal Employees Headcount Δ%: +3,22% n.a. n.a. Human Resources Work-life balance initiatives Implemented Ongoing Ongoing management
Slide 29: Environment, Social, Governance
Environment, Social, Governance Regarding the pillar “Governance”, Zignago Vetro has set the following KPIs and goals: 2019 2020 2025 TOPIC KPIs Achieved Goal Goal Strategic Goal Fiscal transparency Corruption cases 0 0 0 Operative structure and committees able to guarantee Governance structure Achi
Slide 30: Contacts: Roberto Celot CFO & IR
Contacts: Roberto Celot CFO & IR [email protected] Zignago Vetro S.p.A. Via Ita Marzotto 8, 30025 Fossalta di Portogruaro (VE) – Italy Tel (+39) 0421 246111 - [email protected]