Zignago Vetro SpA · MIL:ZV
Zignago Vetro SpA — STAR Conference Milan 2018
12 slides from Zignago Vetro SpA's conference presentation, March 2018
Slide 1: Zignago Vetro Group Company Overview
Zignago Vetro Group Company Overview March 2018
Slide 2: Zignago Holding Group Structure
Zignago Holding Group Structure FREE FLOAT Zignago Holding S.p.A. on the (MARZOTTO FAMILY) ITALIAN STOCK EXCHANGE (since 2007) 65% 35% Santa Margherita 100% S.p.A. Zignago Vetro SpA 192,8 mln Euro Wine producer 100% Zignago Power S.r.l. 100% 50% 100% 30% 51% Electricity producer Huta Szkla Vetro Rev
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
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
Slide 5: Manufacturing Facilities – international presence
Manufacturing Facilities – international presence Geographical Presence Manufacturing Locations Revenues breakdown (2017 FY) Facility Location Portogruaro, (Venice) Italy Other 7% Cosmetics Empoli & Specialty (Florence) Italy Food & Perfumery Beverage 29% 21% Vieux Rouen sur Bresle (Normandie) Franc
Slide 6: Business model and Client Relationships
Business model and Client 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 6 2 Net of intercompany sales
Slide 7: ZVG - Commercial presence
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Slide 8: 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
Slide 9: Zignago Vetro Group: Sales and Profitability Track Record
Zignago Vetro Group: Sales and Profitability Track Record Sales and EBITDA (1988-2017) Euro (m) 346 350 319 323 299 302 291 292 CAGR: +7,7% 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
Slide 10: 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) 360 120 26,4% 30% 24,1% 24,8% 320 100 22,6% 22,0% 280 25% 240 80 20% 200 372,6 60 15% 160 311,9 102,6 241,5 274,6 40 76 79,9 80,1 10% 120 235,4 80 60,5 20 5% 40 0 0 0% 2013 2014 2015 2016 20
Slide 11: Cash Flow From Operations and Capex
Cash Flow From Operations and Capex Cash Flow from Operations (before capex) (€m) Capex (€m) 60 80 55 70 50 45 60 40 Net Capex 50 35 related to VS acquisition 30 58,9 40 53,2 54,9 54,3 72,0 25 66,6 30 20 39,9 49,3 45,9 15 20 32,3 10 10 5 0 0 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 Capex ma
Slide 12: 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