Bulgarian Stock Exchange-sofia · BSESOF:BSE
Bulgarian Stock Exchange-sofia — EuroHold Bulgaria — Investor Presentation (October 2008)
36 slides from Bulgarian Stock Exchange-sofia's investor presentation, October 2008
Slide 1: EuroHold Bulgaria Company presentation
EuroHold Bulgaria Company presentation October 2008 FINANCIAL SERVICES | INSURANCE | CAR DEALERSHIP| MANUFACTURING Everybody has a story, we have a vision
Slide 2: Contents
Contents 1. Introduction 2. Company portfolio 3. Financial results and forecasts 4. Corporate governance 5. Strategy 6. Recent transactions overview 7. Conclusion Appendix I. Contacts
Slide 3: EuroHold Bulgaria core business lines
2008 EuroHold Bulgaria EUROHOLD BULGARIA CAR FINANCIAL LEASING INSURANCE DEALERSHIP MANUFACTURING REAL ESTATE SERVICES (ELH) ( EIG ) (EAM) EuroFinance EuroLease Auto EuroIns Bulgaria Renault Medical supplies Office sites Bulgaria EuroIns Romania Nissan Packages Showrooms EuroLease Auto EuroIns Healt
Slide 4: Shareholder structure
2008 Shareholder structure MAIN SHAREHOLDER Shareholder structure of EuroHold STARCOM CONTROLLED BY THE HOLDING 21% MANAGEMENT 0.80% 6.18% OTHER FIREBIRD MANAGEMENT SHAREHOLDERS BANK AUSTRIA 5.20% 67% Starcom Holding Management Firebird Management LLC Bank Austria Creditanstalt FREE-FLOAT FREE FLOAT
Slide 5: Key events 2006/2008
2008 Key events 2006/2008 Q4 2006 EuroHold Bulgaria was created as a result of the merger between Starcom Holding and EuroHold SPO of EuroHold in the amount of €4.5 MM EuroHold acquires Cargoexpress, dealer of Chevrolet and Opel Q1 2007 EuroHold raises €11.5 MM through an SPO Firebird Management LLC
Slide 6: Contents
Contents 1. Introduction 2. Company portfolio 3. Financial results and forecasts 4. Corporate governance 5. Strategy 6. Recent transactions overview 7. Conclusion Appendix I. Contacts
Slide 7: EIG: Structure and goals
2008 EIG: Structure and goals GOAL: ACQUISITION OF COMPANIES IN COUNTRIES WITH ROBUST ECONOMIC GROWTH AND LOW INURANCE PENETRATION RATES EIG targets general insurance companies from the following countries from the region: EuroIns Turkey Ukraine Bulgaria Serbia Russia 68,00% EuroIns EuroIns Insuranc
Slide 8: EIG: EuroIns Bulgaria
2008 EIG: EuroIns Bulgaria General insurance market, November 2007 8th largest insurance company in Bulstrad (VIS) 8TH LARGEST Bulgaria (based on ’07 Premium) 10,9% 15,1% ЗАСТРАХОВАТЕЛ DZI (KBC) GENERAL No8 5.2% market share for 2007 3,5% Allianz INSURER В БЪЛГАРИЯ 24% average market share growth ov
Slide 9: EIG: EuroIns Romania
2008 EIG: EuroIns Romania Written premiums and net income (in EUR th.) 40 000 500 СТАБИЛНА STABLE Gross written premium of €27.8 46 80 ПАЗАРНА MARKET 0 MM and net income of €80 th. for 30 000 -497 27 842 ПОЗИЦИЯ POSITION -500 2007 19 242 20 000 -1 000 GWP growth of 140% for 2006 г. -1 500 and 52% fo
Slide 10: EIG: EuroIns Macedonia (former Macosped)
2008 EIG: EuroIns Macedonia (former Macosped) €4.5 MM GWP 7TH LARGEST INSURNACE Expected 25% insurance COMPANY market growth for the Macedonian insurance market 2007 coming years €0.6 MM net income Vardar 3,6% 1,4% QBE National network of 9 1,3% 0,9% 5.0% 5,0% Tabak branches MARKET SHARE 28,1% Eurol
Slide 11: EIG: EuroIns Health
2008 EIG: EuroIns Health HIGH POTENTIAL IN THE HEALTH ASSURANCE SECTOR IN BULGARIA The company Health assurance sector trends Established in November 2004 Total premiums for the market in the amount 9th largest health assurance company of € 13 MM Licensed to offer various health assurance Financed m
Slide 12: Financial services: EuroFinance
2008 Financial services: EuroFinance EUROFINANCE IS A LEADING FINANCIAL INTERMEDIARY OFFERING BROKERAGE AND ADVISORY SERVICES DOMESTICALLY AND ABROAD SINCE 1994 Net revenues and profit (in EUR th.) €280 MM 2007 achievements: UNDER ACTIVE MANAGEMENT 7 public offerings in the amount of 900 885 €35 MM
Slide 13: EuroLease Holding
2008 EuroLease Holding Bulgaria - net leasing receivables 2001-2007 Currently, EuroLease Holding owns leasing (EUR th.) companies in Bulgaria, Romania and Macedonia 2007 1 872 222 1 151 893 100 companies operate on the Bulgarian leasing 2005 621 692 market, as 22 companies occupy 90% of the market 2
Slide 14: EuroLease Holding: EuroLease Auto Bulgaria
2008 EuroLease Holding: EuroLease Auto Bulgaria EuroLease Auto monthly growth of leasing portfolio Net leasing receivables of €44.5 last 24 months €44.5 MM MM as of YE 2007, forecasted to EUR th. 60 000 2 400 reach € 100 MM till the end of 50 000 2 000 2008 40 000 1 600 Monthly growth capacity of th
Slide 15: EuroHold Automotive
2008 EuroHold Automotive This division was founded in 2005 in Bulgaria 3 full-scale showrooms – 2 in Sofia and 1 in Varna AUTO SALES MARKET IN BULGARIA* Opening of 3 new showrooms is planned in Sofia, Veliko 52 009 newly sold vehicles for 2007 Tarnovo and Stara Zagora till the end of 2008 21% growth
Slide 16: Manufacturing division
2008 Manufacturing division Etropal Plastchim-T Formoplast Etropal is a leading highly specialized Plastchim-T is a leading plastic Formoplast is a regional leader in plastic company in the medical equipment sector, packaging manufacturer matrices manufacturing main supplier of medical accessories t
Slide 17: Contents
Contents 1. Introduction 2. Company portfolio 3. Financial results and forecasts 4. Corporate governance 5. Strategy 6. Recent transactions overview 7. Conclusion Appendix I. Contacts
Slide 18: Financial results and forecasts
2008 Financial results and forecasts Consolidated results and forecasts (in EUR MM) 321 40 350 35 246 300 30 250 190 25 200 20 134 35 29 150 15 25 10 21 100 17 14 5 12 11 50 0 0 2007 2008 2009 2010 Net consolidated income Net income for the Group Consolidated revenues Revenue breakdown by division (
Slide 19: Contents
Contents 1. Introduction 2. Company portfolio 3. Financial results and forecasts 4. Corporate governance 5. Strategy 6. Recent transactions overview 7. Conclusion Appendix I. Contacts
Slide 20: EuroHold corporate governance
2008 EuroHold corporate governance EuroHold Bulgaria is one of the leading public companies in the country The second largest holding company in Bulgaria by market capitalization PUBLIC COMPANY Acclaimed to be among the pioneering organizations to promote good and transparent corporate governance pr
Slide 21: EuroHold corporate governance
2008 EuroHold corporate governance Transparency is at the core of EuroHold’s business model The company aspires to be among the leading organizations to promote transparent corporate practices in Bulgaria. EIG has already received regulatory approval to market its products in all EU member countries
Slide 22: Contents
Contents 1. Introduction 2. Company portfolio 3. Financial results and forecasts 4. Corporate governance 5. Strategy 6. Recent transactions overview 7. Conclusion Appendix I. Contacts
Slide 23: Strategy: General insurance
2008 Strategy EUROHOLD WILL FOCUS ON DEVELOPING AS A REGIONAL NON-BANKING FINANCIAL SERVICES GROUP Goals: Market share of at least 5% in 6 to 10 countries in the region Establishment of EIG as one of the leading insurance brands in the SEE region One of 7 largest insurance companies in all countries
Slide 24: Strategy: The Balkans and Europe
2008 Strategy: The Balkans and Europe EIG has an aggressive regional expansion strategy: 5% market share in the region To rank in the Top 7 in each market One of the most respected regional insurance brands One of the largest insurance groups in the region Further acquisitions and outstanding organi
Slide 25: Strategy: Regional expansion
2008 Strategy: Regional expansion PHASE I EIG owns the 11th largest insurance company in Romania Recently acquired the 6th largest insurer in Macedonia Advanced stage of acquisition of a large insurance company from the region PHASE II EIG is already screening several targets in Turkey and Serbia PH
Slide 26: Strategy: Leasing
2008 Strategy Goal Leasing portfolio of € 600 MM in 5 years Achieving of optimal synergies between leasing and insurance operations LEASING Strategy Acquisition or establishment of leasing companies in all countries of EIG operations Centralized financing efforts for all companies: - Long-term inter
Slide 27: Strategy: Private and investment banking
2008 Strategy Goals Transform EuroFinance into a regional platform for private and investment banking services Assets under management in the amount of € 870 MM PRIVATE AND INVESTMENT BANKING Strategy Centralized insurance reserves management Development of investment banking services for large corp
Slide 28: Strategy: Auto division
2008 Strategy Goals Operations in all EIG markets Integration with leasing and insurance operations Annual sales of automobiles reaching 12 000 units within 5 years AUTO DIVISION Strategy Strategic partnership with major auto dealers Integration of car sales with leasing and insurance operations Est
Slide 29: Strategy: Manufacturing and real estate
2008 Strategy GOAL:EUROHOLD PLANS TO SELL/RESTRUCTURE ITS MANUFACTURING PORTFOLIO AND REAL ESTATE HOLDINGS IN THE NEXT 5 YEARS Manufacturing division Financial and organizational restructuring Selection of optimal sales alternative MANUFACTURING AND REAL ESTATE Real estate Development of commercial
Slide 30: Contents
Contents 1. Introduction 2. Company portfolio 3. Financial results and forecasts 4. Corporate governance 5. Strategy 6. Recent transactions overview 7. Conclusion Appendix I. Contacts
Slide 31: Unique regional presence and expertise
2008 Unique regional presence and expertise Global Finance is a leading private equity firm with € 850 million under management, raised from leading national and international institutional investors. Since creation Global Finance has raised eight funds and invested in more than 60 companies in Cent
Slide 32: EuroLease Auto financing transaction
2008 EuroLease Auto financing transaction In September 2008, EuroLease Auto Bulgaria secured financing in the amount of €195 MM through asset-backed warehousing and securitization of leasing receivables. The deal is the first of its kind in Bulgaria and South-east Europe. The financing is provided b
Slide 33: Contents
Contents 1. Introduction 2. Company portfolio 3. Financial results and forecasts 4. Corporate governance 5. Strategy 6. Recent transactions overview 7. Conclusion Appendix I. Contacts
Slide 34: Medium-term outlook of EuroHold
2008 Medium-term outlook of EuroHold* Insurance business of EIG -500 MM Gross Written Premium CONSOLIDATED 750 REVENUES (in € MM) - 8 markets in SEE - 5% regional market share - 2 million customers New lines of financing LEASING PORTFOLIO Organic growth in several markets 600 (in € MM) Acquisition a
Slide 35: Contents
Contents 1. Introduction 2. Company portfolio 3. Financial results and forecasts 4. Corporate governance 5. Strategy 6. Conclusion Appendix I. Contacts
Slide 36: Contacts
2008 Contacts Kiril Boshov Borislav Feschiev Chairman of the Management Board Member of the Board [email protected] [email protected] EUROHOLD BULGARIA 16 “ G.M. Dimitrov” Blvd. 1797 Sofia, Bulgaria Tel: + (359 2) 9651 651 Fax: + (359 2) 9651 652 www.eurohold.bg 36
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