Zignago Vetro SpA · MIL:ZV

Zignago Vetro SpA — Mid & Small London 2019

14 slides from Zignago Vetro SpA's conference presentation, April 2019

  1. Slide 1: Company presentation

    Company presentation April 2019 1

  2. Slide 2: Group Structure

    Group Structure FREE FLOAT Zignago Holding S.p.A. on the (MARZOTTO FAMILY) ITALIAN STOCK EXCHANGE Santa Margherita 100% S.p.A. 65% 35% Wine producer 2018 Zignago Vetro SpA ZV Group consolidated 201,4 Mln € 376,5 Mln € 100% Zignago Power S.r.l. 100% 50% 51% Vetro Revet 100% 100% 4,9 Mln € (*) Electri

  3. 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

  4. Slide 4: Presence in Selected Business Segments

    Presence in Selected Business Segments 2018 (€m) Market Segment Products Main Features Competitive Strengths Flexibility, efficiency and Food & technical know-how key for Zignago Vetro Beverage success  Flexibility Sales € 201.4m Focus on selected segments  Quality Cosmetics & of food & beverage a

  5. Slide 5: Manufacturing Facilities – international presence

    Manufacturing Facilities – international presence Geographical Presence Manufacturing Locations Revenues breakdown (2018 FY) Facility Location Portogruaro, (Venice) Italy Cosmetics & Food & Empoli Perfumery Beverage (Florence) Italy 30% 44% Vieux Rouen sur Bresle (Normandie) France Other Trabki (War

  6. Slide 6: Business model

    Business model Production of glass containers dedicated to a broad spectrum of sectors/markets, with a wide range of products: different colours, shapes and dimensions. High content of product innovation and customization. standard customized innovative specialty 6

  7. Slide 7: Commercial Presence and Customer Relationships

    Commercial Presence and Customer Relationships Concentration Customer rate of first loyalty1 5 clients 2 (Revenues) Zignago Vetro 15% 92% Verreries Brosse 53% 93% Vetri Speciali 27% 94% HSC 26% 73% 1 Revenues from clients present also the 2 previous years 7 2 Net of intercompany sales

  8. Slide 8: Zignago Vetro Group: Sales and Profitability Track Record

    Zignago Vetro Group: Sales and Profitability Track Record Sales and EBITDA (1988-2018) CAGR: +8,0% 376 350 337 319 323 Euro (m) 299 302 291 292 300 265 257 241 250 230 209 193 200 162 142 150 133 CAGR: +8,2% 104 109 90 94 93 95 92 104 100 82 81 71 77 75 70 71 70 67 66 62 64 62 58 57 54 49 50 40 43 4

  9. Slide 9: Financial Performance

    Financial Performance Revenues (€m) EBITDA (€m) 350 27,2% 27,7% 110 30% 25,1% 300 100 21,8% 23,6% 25% 90 250 +11.7% 80 20% 200 +1.4% +4.4% 70 +5,5% 104,3 15% 150 376,5 60 91,6 322,9 337,0 302,0 318,5 50 75,1 80,9 10% 100 40 65,8 5% 50 30 20 0% 0 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 EBIT

  10. Slide 10: FY 2018 Revenues & Profitability by BU

    FY 2018 Revenues & Profitability by BU ZIGNAGO VETRO VERRERIES BROSSE Revenues (€m) Revenues (€m) 210 60 180 150 45 120 201,4 30 +6,5% 59,2 90 184,5 +9.2% 55,6 60 15 30 0 0 2017 2018 2017 2018 EBITDA (€m) EBITDA (€m) 26,2% 28,3% 60 30% 12 17,7% 17,9% 20% 50 25% 10 20% 15% 40 8 30 57,0 15% 6 10% 20 4

  11. Slide 11: FY 2018 Revenues & Profitability by BU

    FY 2018 Revenues & Profitability by BU VETRI SPECIALI (50%) Huta Szkła Czechy Revenues (€m) Revenues (€m) 90 45 60 30 73,7 83,2 43,1 +12.9% +41.7% 30 15 30,5 0 0 2017 2018 2017 2018 EBITDA (€m) EBITDA (€m) 33,8% 30,0% 35% 28,4% 25 15 26,7% 30% 30% 20 25% 25% 20% 10 20% 15 24,9 25,0 15% 15% 10 12,3 1

  12. Slide 12: 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) 450 30,4% 120 30% 400 25,1% 24,8% 23,2% 350 100 20,0% 25% 300 80 20% 250 417,2 60 15% 200 372,5 102,5 311,9 40 79,9 80,1 87,3 10% 150 274,6 241,5 60,5 100 20 5% * * * 50 * 0 0% 0 2014 2015 2

  13. Slide 13: Cash Flow From Operations and Capex

    Cash Flow From Operations and Capex Cash Flow from Operations (before capex) (€m) Capex (€m) 80 100 80 60 60 40 79,1 94,3 40 58,3 72,0 53,2 54,9 54,3 66,0 20 49,3 45,9 20 * * * * 0 0 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 Capex mainly depends on furnaces refurbishment and capacity increas

  14. Slide 14: Financial structure, EPS and dividends

    Financial structure, EPS and dividends Key financial structure ratios EPS and Dividend distribution (Euro) (1) Board meeting proposal Pay out guidance: 70% of net group result 14

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