Borgosesia S.p.a. · MIL:BO
Borgosesia — Investor Presentation (November 2024)
31 slides from Borgosesia's investor presentation, November 2024
Slide 1: Company Presentation
Company Presentation Milan, 2024
Slide 2: Executive Summary
01 GOVERNANCE 04 PORTFOLIO / About Us / Portfolio Operations / Group Structure and Investment / Operations Under Valuation Activities / Organisational Chart / Corporate Bodies / Key Management 02 BUSINESS MODEL 05 STRATEGIEA AND / Target Market ECONOMICS / Key Operational and Financial Metrics / Str
Slide 3: 01 Governance
BORGOSESIA O01 GOVERNANCE
Slide 4: The Group's Vision and Mission - About Us
The Group’s Vision About Us and Mission Founded in 1873 in the textile and wool industry, Borgosesia is listed on the Euronext Milan (EXM) market of Borsa Italiana. While maintaining its founding ethos of delivering value to shareholders, employees, collaborators, and investors, since 2016 the compa
Slide 5: Group Structure and Investment Strategy
Group Structure and Investment Strategy Borgosesia operates as an Alternative Asset Manager, selecting individual investment opportunities with clear potential for value extraction. The company possesses all the necessary technical and financial expertise to thoroughly assess the risk-return profile
Slide 6: Organisational Chart
ORGANISATIONAL CHART CdA Antiriciclaggio Compliance Risk Manager M. Girardi D. Schiffer VP VPand MD e AD AD AD Segreteria Corporate A. Maestranzi Societaria Secretariat CFO CFO Appointed Dirigente Marketing Marketing and e Preposto Executive Comunicazione Communication Treasury and Tesoreria e Plann
Slide 7: Corporate Bodies
Corporate Bodies Finance, law, industry, and business economics: the managers and board members of Borgosesia S.p.A. are the cornerstone of our organisation throughout every phase of the value creation process, thanks to their interdisciplinary expertise, diverse career paths, and wide-ranging areas
Slide 8: Key Management
Key Management Mauro Girardi Davide Schiffer CHIEF EXECUTIVE OFFICER CHIEF EXECUTIVE OFFICER With over 30 years of experience, he has been providing He has been working in the real estate sector since 2004, consultancy in corporate and tax planning, both nationally particularly in the field of compl
Slide 9: 02 Business Model
BORGOSESIA QO2 BUSINESS MODEL
Slide 10: Target Market
Target Market Although the policy adopted by the Borgosesia Group aims to support initiatives focused on enhancing real estate assets that directly or indirectly secure the acquired loans, the reference pool for individual investments is still represented by the stock of non-performing loans. To giv
Slide 11: Target Market
Target Market The competitive environment in which Borgosesia operates encompasses two distinct categories of entities. OPERATORS IN THE NON-PERFORMING LOAN INDUSTRY OPERATORS SPECIALISED IN REAL ESTATE MANAGEMENT REAL ESTATE ASSET MANAGEMENT COMPANIES (SGR) (ASSET/FUND MANAGEMENT) Originator Primar
Slide 12: Strengths and Social Impact
Strengths and Social Impact Added value for Added value for the investors end user Achieving a return Meeting a real estate within a reasonably need under favourable short timeframe with conditions controlled risk Consolidated experience in the reference valu e c Consolidated market, characterised b
Slide 13: Investment Process
Investment Process 01 02 03 04 Acquisition Scouting and Financing Extraction Enhancement The activity of searching for The set of activities that, once Once the purchase and financing This phase consists of preparing investment opportunities, as well as the investment is approved, are phase is compl
Slide 14: Securitisation
Securitisation We utilise various instruments in the non-performing loan business and, more broadly, in special situations: investment funds, Club Deals/SPVs, and securitisation. Borgosesia has selected the securitisation vehicle as its primary tool, as it provides third-party investors with the hig
Slide 15: Securitisation | The Two Categories
Securitisation | The Two Categories The securitisation instrument can originate from two distinct sources (both connected to Law 130/1999), each linked to two different categories: CREDIT REAL ESTATE SECURITISATION (7.1) SECURITISATION (7.2) Securitisation is carried out through the pro-soluto trans
Slide 16: Securitisation | The Operators Involved
Securitisation | The Operators Involved SPECIAL PURPOSE ARRANGER ORIGINATOR VEHICLE (SPV) SERVICER AGENT BANK The party responsible Entity that transfers Entity that purchases the Entity appointed by the SPV Entity where current for promoting the entire the NPL portfolio for loan portfolio from the
Slide 17: Securitisation | The Operational Process
Securitisation | The Operational Process 1 2 3 4 5 ACQUISITION MANAGEMENT ISSUANCE DISTRIBUTION REPAYMENT The SPV acquires the The SPV appoints the Asset The SPV issues securities The SPV distributes periodic The SPV repays the portfolio of real estate or Manager and other Agents proceeds to investo
Slide 18: 03 Track Record
BORGOSESIA O03 TRACK RECORD
Slide 19: Key Highlights
Key Highlights In recent years, despite a challenging macroeconomic environment, Borgosesia has achieved significant performance. Below, we present the key KPIs related to the four best and worst investment operations carried out over the past five years, with particular reference to the Internal Ra
Slide 20: Track Record: Best and Worst Operations
Track Record BEST Green Opificio (2016) Five Arts (2019) TST Building (2021) Recanati (2020) Location Milan Exit €19.1M Location Milan Exit €2.3M Location Milan Exit €14,2M Location Milan Exit €15,2M Leverage €5M ROI 114% Leverage €0.9M ROI 43% Leverage €2,8M ROI 37% Leverage €7,5M ROI 122% Investme
Slide 21: 04 Portfolio
BORGOSESIA O4 PORTFOLIO
Slide 22: Portfolio
Portfolio In the finance sector, Borgosesia distinguishes itself through its unique dual nature, combining both financial and real estate expertise. This dual nature allows Borgosesia to extract value on both the financial side, through the management of non-performing loans, and the real estate sid
Slide 23: Portfolio Operations
Portfolio Operations Portfolio Breakdown Q22024 Bergamo 5,9% Milan 16,2% Bologna Como Bergamo 18,1% Varese Brescia Como Venice Milan Milano 3 2 14,8% 6,4% 12 6 8 6 Real 1 Portaestate fo glio Rome 1 Venice Venezia importfolio mo biliar e 6,4% Biella 1 concentrated co ncent rat o Siena 1 innnorthern e
Slide 24: Some of the operations in the valuation phase
Some of the operations in the valuation phase La Colombera Golf Club Hybrid Tower / Mestre (Ve) via Mecenate / Milan Roma Eur / Rome / Franciacorta, Castrezzato (Bs) This is the tallest tower ever built This real estate project, spread over The real estate project entails The project involves not on
Slide 25: 05 Strategies and Economics
BORGOSESIA O5 STRATEGIES AND ECONOMICS
Slide 26: Key Operational and Financial Metrics
KEY OPERATIONAL AND FINANCIAL METRICS AuM Growth – Asset Under Management 55,1 10,9 250 R CAG % 39,2 ,9 +25 10,5 200 17,4 As for the Asset Under 10,9 10,0 150 Management (AuM) highlights the 5,1 cumulative increase in managed 1,55 assets (CAGR +23.14%), both for 100 operations where Borgosesia 1,55
Slide 27: Key Financial and Balance Sheet Data
KEY FINANCIAL AND BALANCE SHEET DATA €'000 2020 2021 2022 2023 Total Revenue 11,930 12,737 33,088 16,225 EBITDA 6,745 11,961 12,285 10,152 EBITDA Margin % 56.5% 93.9% 37.1% 62.5% EBIT 6,409 11,359 11,562 9,527 EBIT Margin % 53.7% 89.2% 34.9% 58.7% Net Profit 5,036 7,868 8,157 5,638 Group Equity 31,9
Slide 28: Positioning as an Alternative Asset Manager
Positioning as an Alternative Asset Manage In the coming years, Borgosesia The plan outlines: will adopt a new operational and Growth of AuM related to co- investment activities, with a target IRR strategic direction that aims for an exceeding 20%. increasingly ambitious positioning Continuous fundr
Slide 29: Future Goals
Future Goals Growth Futures OneOSix Spa Objectives Operations Borgosesia, subject to approval by the Bank of In the coming years, Borgosesia aims to achieve Borgosesia will primarily focus on capex-free Italy, will acquire the entire capital of OneOSix several growth objectives regarding key operati
Slide 30: Disclaimer
Disclaimer The purpose of this document is to provide its recipients with a tool for evaluating the proposed operation, outlining its essential contents. The document and the considerations herein should be interpreted in light of the following key considerations and limitations: • The assessments c
Slide 31: Borgosesia SPA contact details
Borgosesia SPA viale Majno, 10 Milan T +39 02 49785144 [email protected] www.borgosesia.com v 1124.12