Zignago Vetro Spa · MIL:ZV

Zignago Vetro Spa — Investor Presentation (November 2016)

13 slides from Zignago Vetro Spa's investor presentation, November 2016

  1. Slide 1: Zignago Vetro Group Company Overview

    Zignago Vetro Group Company Overview November 2016

  2. 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 175,6 mln Euro Wine producer 100% Zignago Power S.r.l. 100% 50% 100% 30% Electricity producer Huta Szkla Verreries Bro

  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 2002 2007 2011 1979 1994 1995 2004 2013 Acquisition of Empoli plant: Acquisition of VB in France: Listing on the Italian Stoc

  4. Slide 4: Presence in Selected Business Segments

    Presence in Selected Business Segments 2015 (€m) Market Segment Products Main Features Competitive Strengths Flexibility, efficiency and Food & technical know-how key for Zignago Vetro Beverage success  Flexibility Sales €175.6m Focus on selected segments  Quality Cosmetics & of food & beverage an

  5. Slide 5: Manufacturing Facilities – international presence

    Manufacturing Facilities – international presence Geographical Presence Manufacturing Locations Revenues breakdown (2015FY) Facility Location Portogruaro, (Venice) Italy Other 10% Empoli (Florence) Cosmetics Italy & Specialty Perfumery Food & 30% Beverage Vieux Rouen sur Bresle 21% (Normandie) Franc

  6. 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 23% 95% HSC 27% 86% 1 Revenues from clients present also the 2 previous years 6 2 Net of intercompany sales

  7. Slide 7: Financial Performance

    Financial Performance Revenues (€m) EBITDA (€m) 300 26,4% 80 23,6% 23,6% 22,9% 21,8% 25% 250 70 20% 200 60 -2.2% +5.5% +3.3% 50 15% 150 +2.6% 318,5 76,9 75,1 291,2 298,8 292,3 302,0 70,6 67,0 65,8 40 10% 100 30 5% 50 20 0% 0 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 EBITDA (€m) Margin (%) EB

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

    Zignago Vetro Group: Sales and Profitability Track Record Sales and EBITDA (1988-2015) Euro (m) CAGR: +7,9% 350 318,5 298,8 300 250 230,4 209,4 200 141,9 150 104,0 CAGR: +7,3% 94,2 100 71,4 70,6 75,1 57,9 62,3 53,8 40,4 50 34,6 26,1 23,3 14,0 18,5 10,5 0 1988 1989 1990 1991 1992 1993 1994 1995 1996

  9. Slide 9: 9M 2016 Revenues & Profitability

    9M 2016 Revenues & Profitability ZIGNAGO VETRO GROUP Revenues (€m) EBITDA (€m) Net Result (€m) 22,8% 23,4% 250 70 25% 25 10% 21,2% 8,1% 7,8% 60 7,2% 200 20% 20 8% 50 150 40 15% 15 6% +2.6% 244,2 226,5 +5.1% 238,1 100 30 57,2 10% 10 4% 54,4 19,3 18,9 48,0 16,3 20 50 5% 5 2% 10 0 0 0% 0 0% 9M 2014 9M

  10. Slide 10: 9M 2016 Revenues & Profitability

    9M 2016 Revenues & Profitability Zignago Vetro Verreries Brosse 150 35% 150 35% 24,5% 30% 30% 120 23,0% 120 25% 25% 90 18,8% 20% 90 20% 139,8 14,8% 12,4% 60 122,9 132,4 15% 60 15% 10% 5,8% 10% 30 30 5% 40,6 39,8 38,9 5% 0 0% 0 0% 9M 2014 9M 2015 9M 2016 9M 2014 9M 2015 9M 2016 Revenues (€m) EBITDA (

  11. Slide 11: 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) 26,0% 25,1% 280 90 28% 240 80 21,7% 24% 20,0% 70 17,3% 200 20% 60 160 50 16% 274,6 279,4 120 235,4 241,5 40 76,0 79,9 72,3 12% 196,6 216,9 30 64,7 60,5 80 20 50,4 8% 40 10 4% 0 0 0% 2011 201

  12. Slide 12: Cash Flow From Operations and Capex

    Cash Flow From Operations and Capex Cash Flow from Operations (before capex) (€m) Capex (€m) 60 50 55 45 50 40 45 35 40 2,7 Net Capex 30 35 related to VS acquisition 7,6 30 25 49,3 54,7 53,2 54,9 45,9 25 49,5 20 38,5 20 41,3 39,9 32,3 15 30,7 15 22,4 10 10 5 5 0 0 2011 2012 2013 2014 2015 9M 2016 20

  13. Slide 13: Financial structure, EPS and dividends

    Financial structure, EPS and dividends Key financial structure ratios EPS and Dividend distribution (Euro) 80% 1,8 1,7 0, 60 74% 74% 1,6 70% 70% 70% 71% 71% 71% 71% 1,6 1,6 70% 0, 50 1,4 1,3 1,3 0,40 0,38 0,38 0, 40 0,35 60% 0,32 0,33 1,2 1,1 0,28 0,30 1,0 0,27 0, 30 1,0 0,9 50% 0, 20 0,27 0,30 0,31

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