Racing Force Spa · MIL:RFG

Racing Force Spa — Investor Presentation (2024)

53 slides from Racing Force Spa's investor presentation, 2024

  1. Slide 1: Investors' Presentation

    Investors’ Presentation RFG – PRESENTATION SPRING 2024

  2. Slide 2: Notice to Recipient - Strictly Confidential

    NOTICE TO RECIPIENT - STRICTLY CONFIDENTIAL The information contained in this documentation has been prepared by Racing Force S.p.A. (the “Company”) and its consolidated subsidiaries (together, the "Group") for the sole purpose of the presentation made to you concerning the Group. This presentation

  3. Slide 3: An International Leadership Team

    AN INTERNATIONAL LEADERSHIP TEAM Paolo Delprato Stephane Cohen Roberto Ferroggiaro Group Chairman and CEO Group Co-CEO Group CFO Chairman Racing Force International CEO Racing Force International Chairman High Protection Systems CEO High Protection Systems BELL Co-Founder +15 Years of Industry Exper

  4. Slide 4: Racing Force at a Glance

    RACING FORCE AT A GLANCE RACING FORCE OPERATES IN THE DEVELOPMENT, PRODUCTION AND MARKETING OF SAFETY COMPONENTS AND PROTECTION EQUIPMENT FOR THE MOTORSPORT INDUSTRY RACING FORCE GROUP TODAY Brands Numbers Worldwide Leadership in Motorsport Safety Equipment Widest range of products covering the full

  5. Slide 5: The Partner of Choice: From Top Drivers to Amateurs, Teams and Regulatory Bodies

    THE PARTNER OF CHOICE: FROM TOP DRIVERS TO AMATEURS, TEAMS AND REGULATORY BODIES SELECTED TOP DRIVERS F. ALONSO L. HAMILTON C. LECLERC R. BLANEY V. ROSSI K. ROVANPERA Aston Martin F1 Team Mercedes F1 Team Scuderia Ferrari Team Penske WRT Team TGR Rally Team From World Champions... The choice of the

  6. Slide 6: A Long Term Double-Digit Growth History

    A LONG TERM DOUBLE-DIGIT GROWTH HISTORY SALES Consolidated turnover (€ M) ACQUISITION 15,4% 14.6% CAGR 2014-2023 52% decrease in #races 19,8% 62.7 58.9 19,2% 46.7 11,4% 15,9% 36.6 33.7 PF 25.9 18.4 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 08

  7. Slide 7: Motorsport Safety Equipment Market

    MOTORSPORT SAFETY EQUIPMENT MARKET

  8. Slide 8: Leadership in a Fragmented Market

    LEADERSHIP IN A FRAGMENTED MARKET DOMINATED BY 3 PLAYERS SINGLE EXTENDED PRODUCT RANGE Public Listed at EGM and EGP PROFESSIONAL QUALITY Headquarter Sparco Worldwide Simpson (mainly USA) Market Worldwide Impact USA Stilo Worldwide Main brands RANGE OFFER DRIVER EQUIP. Racewear Kartwear Helmets FHR E

  9. Slide 9: Update on Strategy

    UPDATE ON STRATEGY

  10. Slide 10: Clear Main Pillars for Further Growth

    3 CLEAR MAIN PILLARS FOR FURTHER GROWTH SOLID GROWTH OPPORTUNITIES IN CORE MARKETS AND NEW TECHNOLOGY / HIGH PERFORMANCE SAFETY NICHES KEY DRIVERS 1 2 3 MOTORSPORT ORGANIC DIVERSIFICATION M&A GROWTH 10

  11. Slide 11: Pillar 1 – Motorsport Organic Growth

    PILLAR 1 – MOTORSPORT ORGANIC GROWTH CONSOLIDATING RACING FORCE’S LEADERSHIP IN LESS PENETRATED GEOGRAPHIES AND PRODUCT CATEGORIES GEOGRAPHIES PRODUCT CATEGORIES CHANNELS The Group gained market share consistently across Edging innovation through a continuous R&D Developing the Dealers network is al

  12. Slide 12: Pillar 2 - Diversification

    PILLAR 2 - DIVERSIFICATION MOTORSPORT BRINGING IMMERSIVE CONTENT TO MAJOR SPORT EVENTS: SKI WORLD SMALLEST AND LIGHTEST MICRO-CAMERA FOR LIVE TV BROADCASTING THE ONLY CAMERA SYSTEM HOMOLOGATED BY FIA FIVE PATENTS HAVE BEEN FILED OVER THE LAST FOUR YEARS TO COVER THE DRIVER’S EYE TECHNOLOGY SINCE 20

  13. Slide 13: Pillar 2 - Diversification: Air Force Helmets

    PILLAR 2 - DIVERSIFICATION FROM F1 ABP ADVANCED HELMET TO THE NEXT GENERATION AIR FORCE HELMETS TECHNOLOGY TRANSFER SAFETY IMPACT ABSORPTION PERFORMANCE WEIGHT – SIZE - FITTING PROCESS FROM HANDCRAFTING TO WATERJET PRECISION NEXT MILESTONES 2023 2024 2025/2026 Final product definition and first Prod

  14. Slide 14: Pillar 2 - Diversification - Gladiator Helmet

    PILLAR 2 - DIVERSIFICATION - GLADIATOR HELMET LAW ENFORCEMENT HEAD PROTECTION HPS GLADIATOR - MAIN TECHNICAL FEATURES SWAT helmet developed according to TR 2010 Ballistic Helmet, VPAM and NATO standards Optimized shell design for full compatibility with headset and chemical, biological, radiological

  15. Slide 15: Pillar 2 - Diversification - Police Riot Helmet

    PILLAR 2 - DIVERSIFICATION - POLICE RIOT HELMET LAW ENFORCEMENT HEAD PROTECTION HPS RH 1.0 - MAIN TECHNICAL FEATURES RIOT helmet developed according to TR 2011 for a Modular System – Protective Helmet, Communication System, Respirator Mask Lightweight shell with FR coating for optimized shock and st

  16. Slide 16: Pillar 3 – M&A

    PILLAR 3 – M&A STRONG TRACK-RECORD OF SUCCESSFUL INTEGRATIONS IN RECENT YEARS PROVIDES SOLID GROUND FOR FURTHER M&A POTENTIAL IN A VERY FRAGMENTED MARKET INTEGRATE NEW TECHNOLOGY TO STRENGHTEN RFG POSITION IN THE MARKET TECHNOLOGY STRENGTHEN TECHNOLOGICAL CAPABILITIES NOT YET AVAILABLE IN RACING FOR

  17. Slide 17: Our Locations in Different Continents

    OUR LOCATIONS IN 3 DIFFERENT CONTINENTS 4 CUTTING EDGE 8 LOCATIONS 3 R&D CENTERS 7 SHOWROOMS PRODUCTION & LOGISTICS CENTERS 17

  18. Slide 18: Main Investments to Support the Growth

    MAIN INVESTMENTS TO SUPPORT THE GROWTH TO SUPPORT THE GROWTH OF THE GROUP, AN INVESTMENT PLAN TO EXPAND THE OVERALL CAPACITY IS UNDERWAY BAHRAIN: INCREASING CAPACITY EUROPE, RONCO SCRIVIA WORK PROGRESSION – UPDATE MARCH 2024 Expansion: +4,000 sqm Foundations completed +50% Building frame under const

  19. Slide 19: Proud of Our History, Building Our Future

    PROUD OF OUR HISTORY, BUILDING OUR FUTURE

  20. Slide 20: Proud of Our History, Building Our Future

    PROUD OF OUR HISTORY, BUILDING OUR FUTURE

  21. Slide 21: Proud of Our History, Building Our Future

    PROUD OF OUR HISTORY, BUILDING OUR FUTURE

  22. Slide 22: Proud of Our History, Building Our Future

    PROUD OF OUR HISTORY, BUILDING OUR FUTURE

  23. Slide 23: Proud of Our History, Building Our Future

    PROUD OF OUR HISTORY, BUILDING OUR FUTURE

  24. Slide 24: Economic and Financial Data

    ECONOMIC AND FINANCIAL DATA

  25. Slide 25: 2023 at a Glance

    2023 AT A GLANCE SALES EBITDA NET INCOME € 62.7m € 9.6m € 4.8m +6.4% vs FY 22 15.4% EBITDA Margin 7.7% NI Margin Vs +19.8% in FY 22 Vs 12.9% in FY 22 +23% 2020 - 2023 CAGR CASH FLOW FROM OPERATIONS NET FINANCIAL POSITION PROPOSED DIVIDEND € 1.0m € 3.2m € 2.3m 10.2% Cash Conversion 0.3x Leverage € 0.

  26. Slide 26: Consolidated P&L

    CONSOLIDATED P&L Revenues (€m) and Growth (%) FY 2023 Revenues Breakdown and Variance vs FY 2022 Geographies 2020-2023 CAGR +23% 11% 2021-2023 CAGR +16% EMEA AMER APAC 24% SALES FY23 41.0 ml 14.7 ml 6.9 ml 62,7 VAR vs LY +4.1 ml -1.2 ml +0.9 ml 58,9 65% VAR % +11.2% -7.8% +15.0% EMEA AMER APAC 46,7

  27. Slide 27: Consolidated P&L (cont'd)

    CONSOLIDATED P&L (cont’d) EBITDA (€m) and Margin (%) NET INCOME (€m) and Margin (%) 19.2% 19.8% 15.4% 10.6% 12.9% 7.7% 11.7 7.6 9.6 9.0 4.9 4.8 2021 2022 2023 2021 2022 2023 Variance in EBITDA is mainly due to higher costs in FY23 to further strengthen the Group’s The decrease in Net Income compared

  28. Slide 28: Consolidated Balance Sheet

    CONSOLIDATED BALANCE SHEET CAPEX (€m) WORKING CAPITAL (€m) 6.2 12.6 20.0 26.8 5.3 2.9 0.5 4.3 11.2 0.9 10.3 7,7 21.6 25.1 14,7 -10.7 -12.4 -12.3 FY21 FY22 FY23 FY21 FY22 FY23 CASH FLOW from Operations (€m) and Cash conversion (%) NET FINANCIAL POSITION (€m) and leverage on EBITDA (x) 0.1x 0.4x 0.3x

  29. Slide 29: Current Trading

    CURRENT TRADING

  30. Slide 30: Outlook

    OUTLOOK Motorsport • Q1 Sales are in line with previous year despite two big (approx. 1,0 mio €) Racing Spirit orders in Q1 2023 (net of this, +5,0%). Q1 Orders in strong growth. • Main 2024 target to increase efficiency and cash generated from operations, to complete investments plan within Q1 2025

  31. Slide 31: RFG's ECM Path

    RFG’s ECM PATH

  32. Slide 32: RFG on Stock Exchange Markets

    RFG on Stock Exchange Markets ISSUER Racing Force S.p.A. LISTING VENUE Euronext Growth Milan (RFG) and Euronext Growth Paris (ALRFG) MARKET CAP Market capitalization ≈ € 100 mio OWNERSHIP 25.699.198 shares STRUCTURE SAYE 53% - Market 47% ANALYST EQUITA  BUY | Target: € 6.0 COVERAGE TP-ICAP MIDCAP 

  33. Slide 33: Thank You

    THANK YOU Racing Force Group Barabino & Partners Roberto Ferroggiaro Luigi Rossi – Jacopo Rubino Stefania Bassi Giuseppe Fresa Investor Relations Media E-mail: [email protected] E-mail: [email protected] E-mail: [email protected] E-mail: [email protected] mob: +39 335 6282667 mob: +39 348 5

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    RACING FORCE GROUP [BRANDS OF RACING FORCE BROUP

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  52. Slide 52: RACING

    RACING FORCE GROUP

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