Zignago Vetro SpA · MIL:ZV
Zignago Vetro SpA — 1Q 2015 Earnings Presentation
12 slides from Zignago Vetro SpA's earnings presentation, May 2015
Slide 1: Zignago Vetro Group Company Overview
Zignago Vetro Group Company Overview May 2015
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% 100% Santa Margherita S.p.A. Zignago Vetro SpA 161,7 mln Euro Wine producer 100% Zignago Power S.r.l. 100% 50% 100% 30% Electricity producer Huta Szkla Verreries Bro
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 2002 2007 2011 1979 1994 1995 2004 2013 Acquisition of Empoli plant: Acquisition of VB in France: Listing on the Italian Stoc
Slide 4: Presence in Selected Business Segments
Presence in Selected Business Segments 2014 (€m) Market Segment Products Main Features Competitive Strengths Flexibility, efficiency and Food & technical know-how key for Zignago Vetro Beverage success Flexibility Sales €161.7m 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 (2014FY) Facility Location Portogruaro, (Venice) Italy Empoli (Florence) Italy Vieux Rouen sur Bresle (Normandie) France Trabki (Warsaw) Poland (decoration facility located with manufac
Slide 6: Business model and Client Relationships
Business model and Client Relationships Concentration Customer rate of first loyalty1 5 clients 2 (Revenues) Zignago Vetro 18% 88% Verreries Brosse 45% 98% Vetri Speciali 22% 95% HSC 27% 86% 1 Revenues from clients present also the 2 previous years (data referred to 2014) 6 2 Net of intercompany sal
Slide 7: Financial Performance
Financial Performance Revenues (€m) EBITDA (€m) 300 26,7% 26,4% 80 23,6% 22,9% 21,8% 25% 250 70 20% 200 60 +3.3% +2.6% -2.2% 50 15% 150 +10.0% 302,0 76,9 291,2 298,8 292,3 70,7 70,6 67,0 65,8 264,9 40 10% 100 30 5% 50 20 0% 0 2010 2011 2012 2013 2014 2010 2011 2012 2013 2014 EBITDA (€m) Margin (%) E
Slide 8: Zignago Vetro Group: Sales and Profitability Track Record
Zignago Vetro Group: Sales and Profitability Track Record Sales and EBITDA (1988-2014) Euro (m) 350 CAGR: +8,0% 301,9 291,2 300 256,7 250 192,6 200 150 132,7 CAGR: +7,3% 89,5 94,9 100 76,9 69,9 65,9 62,1 49,3 49,9 5040,4 33,4 27,3 23,7 10,5 11,1 10,5 0 1988 1989 1990 1991 1992 1993 1994 1995 1996 19
Slide 9: 1Q15 Revenues & Profitability
1Q15 Revenues & Profitability ZIGNAGO VETRO GROUP Revenues (€m) EBITDA (€m) Net Result (€m) 20 21,5% 22,1% 25% 80 21,3% 6 6,9% 6,9% 6,8% 8% 70 20% 60 15 6% 50 15% 4 79,4 10 40 +6.1% +8.9% 4% 68,7 72,9 15,7 17,5 10% 5,0 5,4 30 14,7 4,7 2 20 5 2% 5% 10 0 0 0% 0 0% 1Q 2013 1Q 2014 1Q 2015 1Q 2013 1Q 20
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) 270 26,0% 240 80 28% 70 21,7% 21,7% 210 20,0% 24% 180 60 16,0% 17,3% 20% 150 50 16% 120 235,4 241,5 257,3 40 76,0 78,2 216,9 64,7 64,7 12% 183,5 196,6 30 60,5 90 42,3 50,4 8% 20 60 10 4% 30
Slide 11: Cash Flow From Operations and Capex
Cash Flow From Operations and Capex Cash Flow from Operations (before capex) (€m) Capex (€m) 70,0 50 65,0 45 60,0 55,0 40 50,0 35 45,0 2,7 40,0 Net Capex 30 related to VS 35,0 acquisition 7,6 62,3 25 49,3 30,0 54,7 53,2 25,0 20 36,0 20,0 41,3 39,9 32,3 15 30,7 15,0 22,4 10,0 10 5,0 9,2 5 0,0 5,3 -5,
Slide 12: Financial structure, EPS and dividends
Financial structure, EPS and dividends Key financial structure ratios EPS and Dividend distribution (Euro) 74% 74% 1,6 1,6 70% 70% 70% 71% 71% 71% 1,6 0,60 70% 1,3 0,42 1,4 1,3 0,50 0,42 0,44 0,35 0,35 60% 1,2 1,1 0,40 0,31 1,0 0,30 0,27 1,0 0,9 0,30 50% 0,7 0,30 0,31 0,8 0,20 0,30 0,9 0,22 0,24 0,8