Sogefi S.p.a. · MIL:SGF
Sogefi — Star Conference, Milan 2014
29 slides from Sogefi's conference presentation, Mar 26, 2014
Slide 1: Star Conference, Milan 26 March 2014
Star Conference, Milan 26 March 2014
Slide 2: Extra European sales outpaced market growth in reference regions in 2013
EXTRA EUROPEAN SALES OUTPACED MARKET GROWTH** IN REFERENCE REGIONS IN 2013 Sogefi NAFTA +31.3%* Sogefi Sogefi Registrations 7.2% Production 7.7% -1.6%* +33.4%* Europe Asia Registrations -1.7% Registrations 14.6% Production -2.6% Production 11.0% Brazil + Argentina Registrations 1.6% Production 4.9%
Slide 3: Rebalancing customers and regions
REBALANCING CUSTOMERS AND REGIONS (Based on FY 2013 data) Sogefi Group main Customers* Breakdown by region 4% 4% 11% 14% 18% 17% Asia NAFTA Mercosur 66% 64% Europe 2012 2013 * In % of total sales • Europe weights 64% of revenues vs 66% in 2012 • Sogefi won the GM 2013 supplier of the year • < 6% of
Slide 4: Margin expansion in 2013
MARGIN EXPANSION IN 2013 (calculated as % on sales) EBIT pre restructuring (€m) Margin 5.9% 6.6% Margin improvement was obtained together with an expansion in revenues and despite the climate of negative 88.3 exchange rates … 78.8 FY 2012 FY 2013 EBIT (€m) Margin 4.8% 5.2% … and with an intensificat
Slide 5: 2013 key achievements
2013 KEY ACHIEVEMENTS (€m) FY 2012 FY 2013 YOY 2013 RESULTS KEY DRIVERS Revenues 1,319 1,335 1.2% •Revenues and margin are up driven by better regional and Excluding forex effect 5.5% product mix despite a climate of negative exchange rates Operating profit 92.4 107.8 16.6% •Revenues net of forex ef
Slide 6: High financial flexibility
HIGH FINANCIAL FLEXIBILITY Net Financial position as of 31/12/2013 Debt Refinancing €m • In December 2012 a €215m of debt refinancing was settled: – Mainly through a five‐year credit facility for €200m 132,9 (of which €80m revolving and €120m amortizing) 437,5 • In May 2013 two US private placements
Slide 7: Looking at the future
LOOKING AT THE FUTURE 7 SOGEFI GROUP
Slide 8: Sogefi in the world
SOGEFI IN THE WORLD 43 PRODUCTION SITES 17 COMMERCIAL SITES 21 COUNTRIES Data as of 31/12/2013 8 SOGEFI GROUP
Slide 9: Competitive positioning
COMPETITIVE POSITIONING Fluid Filtration Air & Cooling 1st producer 3rd producer 1st producer in Europe and NAFTA in MERCOSUR in Europe Suspensions Aftermarket 1st producer in 2nd producer in European and MERCOSUR premium segment MERCOSUR Europe joint leadership Sogefi Estimations 9 SOGEFI GROUP
Slide 10: Supplying top vehicles in Europe
SUPPLYING TOP VEHICLES IN EUROPE • Sogefi Engine Systems are present on 8 of the 10 most sold Passenger Cars in Europe in 2013 • Sogefi Suspensions are in 6 of the top 10 vehicles in Europe in 2013 OIL MODULE DIESEL MODULE TURBO INLET DIESEL MODULE OIL MODULE COOLANT PIPE TURBO OUTLET TURBO OUTLET T
Slide 11: Supplying top vehicles in South America
SUPPLYING TOP VEHICLES IN SOUTH AMERICA • Sogefi Engine Systems are present on 9 of the 10 most sold Passenger Cars in Brazil + Argentina in 2013 • Sogefi Suspensions are in 8 of the top 10 vehicles in Brazil + Argentina in 2013 FIRST CONTRACT AWARD WITH HYUNDAI IN BRAZIL AIR INTAKE SYSTEM AIR INTAK
Slide 12: Also supplying premium platforms
ALSO SUPPLYING PREMIUM PLATFORMS OIL MODULE OIL MODULE INTAKE MANIFOLD NEW CONTRACTS: STAB. BARS COILS SPRINGS PORSCHE: OIL MODULES on V6 and V8 engines FERRARI 599 AIR INTAKE MANIFOLD PORSCHE CAYENNE COILS SPRINGS MERCEDES SLK OIL MODULE STAB. BARS AUDI: OIL MODULES on V6 and V8 engines INTAKE MANI
Slide 13: Market trends: cars and LCVs by region
MARKET TRENDS CARS and LCVs BY REGION Leveraging on international market growth opportunities: Nafta, Mercosur, China and India (amounts in M’ pcs) 30,0 +5,8% 27,8 26,3 +7,3% 24,5 25,0 +9,8% 22,3 +3,9% 22,0 +10,8% +4,2% 21,2 20,2 -4,3% 19,3 +10,2% 20,1 19,4 19,5 +4,0% 20,3 20,0 18,9 +2,7% +5,5% +3,4
Slide 14: Market trends: engines by region
MARKET TRENDS ENGINES BY REGION Leveraging on international market growth opportunities: Nafta, Mercosur, India and China (amounts in M’ pcs) 30,0 28,0 26,6 +5,4% 24,7 +7,3% 25,0 24,2 22,8 +8,6% 23,1 22,2 +4,8% 20,7 +10,4% +4,0% -1,7% 20,4 +2,2% 20,8 20,0 19,3 +2,1% 21,3 +4,6% 20,6 +1,9% +7,4% +14,5
Slide 15: New plant inauguration in Mexico in Sept. 2013
NEW PLANT INAUGURATION IN MEXICO IN SEPT. 2013 New Engine System plant inauguration in Monterrey (Mexico) in September 2013 Scorpion Diesel V8 6.7 L Manifold Products: • Air Intake manifolds • Active runner systems • Fuel rails V8 6,4L Big Gas Manifold • Injectors • Electronic throttle bodies Air Ca
Slide 16: Opportunities in North America
OPPORTUNITIES IN NORTH AMERICA N°1 in Air Intake Manifold SOGEFI 2013 SUPPLIER OF THE YEAR FOR GM Sogefi delivers 8 of the top 20 best seller cars with a strong presence in the V6 and V8 engines Petrol V6 3.5 L GTDI (N°1 in USA) FORD F-150 Petrol L4 2.0 L GDI & GTDI Serving the n°1 best seller PLAST
Slide 17: New plant inauguration in China in January 2014
NEW PLANT INAUGURATION IN CHINA IN JANUARY 2014 Inauguration in January 2014 of two factories for the production of Suspension Components and Engine Systems 17 SOGEFI GROUP
Slide 18: Expected strong growth in China
EXPECTED STRONG GROWTH IN CHINA Leverage on relationship with Western customers and selected local players Aim to achieve over $100m of revenues in 2017 Suspensions: tubular and stabilizer bars serving mainly BMW, Daimler, Fiat/CHX, Ford and PSA FORD FOCUS PSA C5 BMW SERIES 3 (N. 2 best seller car i
Slide 19: A growing player in India
A GROWING PLAYER IN INDIA Well positioned to serve all major local manufacturers 4 plants in INDIA: • Pune: Engine Systems + Suspensions • Bangalore: Engine Systems 2 • New Delhi: Engine Systems Leverage on enhanced integration of Engine Systems activities Pune Chennai Source: 20131213_IHS_LV_Produc
Slide 20: A growing player in India
A GROWING PLAYER IN INDIA Single largest supplier of Air Filter elements to 2W’s Present in 3 out of the 8 in India top selling vehicles in 2013 WATER PUMP WATER PUMP WATER PUMP THERMOSTAT HOUSING THERMOSTAT HOUSING STAB BARS SPLENDOR CD DAWN PASSION SUPER SPLENDOR MARUTI SUZUKI MARUTI SUZUKI TATA I
Slide 21: Heavy duty main customers
HEAVY DUTY MAIN CUSTOMERS Serving leaders through the world In the heavy duty business, Sogefi is: • Market leader in suspensions in Europe • Market leader in Engine Systems in South America • Market leader for Aftermarket both IAM and OES in South America, entered European aftermarket in 2013 21 SO
Slide 22: Supplying also railways, agri + construction equipment
SUPPLYING ALSO RAILWAYS, AGRI + CONSTRUCTION EQUIPMENT 22 SOGEFI GROUP
Slide 23: Extension in the aftermarket product range
EXTENSION IN THE AFTERMARKET PRODUCT RANGE CABIN AIR FILTERS: • A rapidly growing market: +50% in last 3 years • A growing car parc: fitted on 95% of new cars • An essential replacement: protection from external pollution and from bad odours • A specific brand for Heavy Duties • Creation of Sogefi b
Slide 24: Innovative solution for the aftermarket
INNOVATIVE SOLUTION FOR THE AFTERMARKET New packaging specifically designed for cabin air filters: • Preserves the integrity of the product until it is fitted • Optimises handling through the entire supply chain Eco-friendly Strong Transparent • Improves the preservation of natural resources • Longe
Slide 25: Investments
soteri GROUP INVESTMENTS 25 SOGEFI GROUP
Slide 26: Resources dedicated to competitiveness
RESOURCES DEDICATED TO COMPETITIVENESS In 2013 Sogefi continued its expansion strategy China: India: • Engine Systems: Start of construction of a new • Engine Systems: Inauguration of factory in Pune plant in Wujiang Mexico: • Suspensions: Start of construction of a new plant • Engine Systems: Produ
Slide 27: Summing up
SUMMING UP Building a more proactive Group through: 1. Rebalancing the regions’ weight: ─ weight of extra European activities set to rise from current 36% thanks to start ups and to growth in Latin America, Nafta and Asia 2. Leveraging on Innovations: ─ Introduction of new innovative products/techno
Slide 28: Contacts
CONTACTS Giancarlo Coppa, Group CFO Laura Pennino, Investor Relations SOGEFI Via Flavio Gioia, 8 20149 Milano – Italia Tel: 39 02 4675 0214 Fax: +39 02 43511348 Mail: [email protected] 28 SOGEFI GROUP
Slide 29: Disclaimer
DISCLAIMER • This document has been prepared by SOGEFI S.p.A. for information purposes only and for use in presentations of the Group’s results and strategies. • For further details on the SOGEFI Group. reference should be made to publicly available information. including the Annual Report. the Semi