Sesa S.p.a. · MIL:SES
Sesa — Investor Presentation (July 2016)
22 slides from Sesa's investor presentation, Jul 14, 2016
Slide 1: Group Presentation
Group Presentation Empoli, July 14th 2016
Slide 2: Index
Index Group Structure and Business Model slide 3-11 Annual Group Economics and Financials as of April 30, 2016 slide 12-14 Segment Reporting as of April 30, 2016 slide 15-16 Economics and Financials Track Record 2011-2016 slide 17-18 Key Investors Information slide 19 Annexes 1-2 (Consol
Slide 3: SeSa Group Organization
SeSa Group Organization SeSa Group is the leading Italian distributor of IT value-added products and solutions with consolidated revenues and other income equal to Eu 1,230 Mn (Fiscal Year as of April 30, 2016) and about 1,200 employees. The Group organization consists of 3 business units: Corpora
Slide 4: Business Model
Business Model Strategic partner of Global IT Vendors (“IT Titans”) for the Italian market (Cisco, Dell, EMC, HP, IBM, Lenovo, Microsoft, Oracle), focusing on value-added segments: Server, Storage and Systems Software Enterprise Networking IT Services Continuous growth since 1973, by lev
Slide 5: Partner of Global IT Vendors
Partner of Global IT Vendors SESA Group main subsidiary (CGI) is the leading Italian IT Value Added distributor with a market share equal to 43.9% (source Sirmi, May 2016) thanks to the long term partnerships with the IT Global Vendors (IT Titans*) Long-term partnerships with IT Titans* and othe
Slide 6: Competitive advantages
Competitive advantages Long-term relationship CGI is the Italian main partner of the IT Global Vendors, customizing with IT “Titans” and the for Italian Enterprise and SMEs the it solutions globally designed by major global Vendors Global IT Vendors To operate as major partner of the IT Vendors requ
Slide 7: IT Supply Chain
IT Supply Chain Vendor Information Technology producers, global players GLOBAL IT VENDOR worldwide Value Distributors Distributors Focused on valued added IT solutions Volume Distributors They distribute IT solutions Hybrid Distribution Wholesalers of a wide range of IT and (systems, networking, sof
Slide 8: IT Market
IT Market After 3 year-period decline (-2.3% in 2015 YoY) a recovery of the Italian IT market is expected over 2016-2018 period Total market Eu 18.2 billion in 2015 of which approximately 30% consisting of SME and Enterprise segments Source SIRMI, May 2016 Italian IT Market 2013 2014 2015 2016E
Slide 9: Continuous growth since 90s
Continuous growth since 90s 10.5% CAGR over 2011 – 2016 period, mainly organic thanks to the acquisition of new distribution agreements 16% growth in the last FY as of April 30, 2016 Continuous growth since ’90s over-performing the reference market 1400 1200 1,230 CAGR +10.5% FY2011-FY2016 1,0
Slide 10: Leadership in Italian VAD
Leadership in Italian VAD CGI is leader on the Italian value- Italian value-added IT distribution market added IT distribution market, with a 43.9% market share in 2015 (source Sirmi, May 2016), vs 43.7% as of 2014 43.9% CGI is the largest Italian distributor 43.7% in the high value-added segmen
Slide 11: VAR focusing on the Italian SMEs
VAR focusing on the Italian SMEs VAR is a leading System Integrator on the Italian • Proprietary ERP and Vertical Solutions Enterprise and Small Medium Enterprise Segment ERP designed for Italian SMB (SMB and Enterprise represent about 30% of total IT • International ERP (SAP) market in 2015 – sou
Slide 12: Group Economics: FY 2016A vs 2015A and 2016E
Group Economics: FY 2016A vs 2015A and 2016E Revenues* (Eu Mn) Ebitda (Eu Mn, %) 1250 1,230 1,230 +6.5% 52,6 +1.7% +0.8% +16.0% 52.4 52.4 52,4 1200 4.3% 4.3% 1,155 (E) 52,2 1150 52.0 (E) 52,0 4.5% 1100 51,8 1,060 51.6 51,6 1050 4.9% 51,4 1000 51,2 950 51,0 30 Apr 2016A 30 Apr 2015 30 Apr 2016A 30 Ap
Slide 13: Group Financials: FY 2016A vs 2015A and 2016E
Group Financials: FY 2016A vs 2015A and 2016E Group’s Shareholders Net Financial Position Equity* (Eu Mn) (Eu Mn) 185 179.4 +11.8% 179.4 +2.4% 180 175.2 (E) 175 170 165 160.4 160 155 150 30 Apr 2016A 30 Apr 2015 30 Apr 2016A 30 Apr 2016E 30 Apr 2016A 30 Apr 2015 30 Apr 2016A 30 Apr 2016E 0 -5 Posi
Slide 14: FY2016 Group Financial Structure
FY2016 Group Financial Structure Apr 30, 2016 Apr 30, 2015 250 159.6 Non current 200 Liabilities 142.2 NWC/Revenues 22,0 Non current improvement from 7.3% 159.6 Liabilities as of April 30, 2015 to 150 142.2 15,7 6.3% as of April 30, 2016 NWC 77,6 NWC 100 Group Equity 76,9 179,4 Group Equity 160,4
Slide 15: FY2016 Segment Reporting
FY2016 Segment Reporting Revenues and Other Income Ebitda Ebit Net Profit* (Eu Mn) (Eu Mn) (Eu Mn) (Eu Mn) Group’s Segments 12M16 12M15 Growth % 12M16 12M15 Growth % 12M16 12M15 Growth % 12M16 12M15 Growth % Value Added Distribution (VAD) 1,081.6 951.3 13.7% 42.8 41.6 2.9% 36.9 35.8 2.8% 23.2 21.1 1
Slide 16: H2 2016 Segment Reporting
H2 2016 Segment Reporting Revenues and Other Ebitda Ebit Net Profit* Income (Eu Mn) (Eu Mn) (Eu Mn) (Eu Mn) Group’s Segments 2H16 2H15 Growth % 2H16 2H15 Growth % 2H16 2H15 Growth % 2H16 2H15 Growth % Value Added Distribution (VAD) 623.8 535.5 16.5% 24.9 24.0 4.0% 21.3 21.5 -0.8% 13.5 12.8 5.3% Syst
Slide 17: Group Economics track record 2011-2016
Group Economics track record 2011-2016 Revenues** (Eu Mn) Ebitda (Eu Mn, %) 1450 55 51.6 52.4 49.5* 1,230 50 1250 44.2 4.9% 4.3% 1,060 45 41.3 5.2% 1050 948* 40 5.3% 832 34.4 5.1% 850 747 812 35 30 4.6% 650 25 450 20 15 250 10 50 5 30 Apr 30 Apr 30 Apr 30 Apr 30 Apr 30 Apr 30 Apr 30 Apr 30 Apr 30 Ap
Slide 18: Group Financials track record 2011-2016
Group Financials track record 2011-2016 Group’s Shareholders Net Financial Position Equity* (Eu Mn) (Eu Mn) 205 179.4 60 53.5 185 50 165 160.4 143.9 40 145 129.9 30 125 20 105 10 4.2 84.0 85 0 67.8 30 Apr 2011 30 Apr 2012 30 Apr 2013 30 Apr 2014 30 Apr 2015 30 Apr 2016 65 -10 45 -20 -30 -20.7 25 -26
Slide 19: Key Investors Information
Key Investors Information Sesa (Euro) 2016 2015 2014 2013 SeSa shares are listed on the MTA Italian Stock Stock Market (1) MTA - MTA - MTA AIM Exchange since Oct 23th, 2013 (STAR Segment Star Star since February 16th, 2015) Stock market price (April 15.40 16.34 13.20 10.40 30th of every Fiscal Yea
Slide 20: Income Statement as of April 30th, 2016 – Annex 1
Income Statement as of April 30th, 2016 – Annex 1 Change Reclassified income statement 04/30/2016 % 04/30/2015 % 2016/15 Revenues 1,223,485 1,054,038 16.1% Other income 6,117 6,122 Total Revenues and Other Income 1,229,602 100.0% 1,060,160 100.0% 16.0% Goods for resale 1,043,195 84.8% 896,041 84.5%
Slide 21: Balance Sheet as of April 30th, 2016 – Annex 2
Balance Sheet as of April 30th, 2016 – Annex 2 Change Reclassified Balance Sheet 04/30/2016 04/30/2015 2016/15 Intangible assets 17,251 7,190 10,061 Property, plant and equipment 44,437 37,953 6,484 Investments valued at equity 3,938 2,766 1,172 Other non-current receivables and tax assets 16,340 17
Slide 22: Disclaimer
Disclaimer This presentation (hereinafter the “Presentation” or the “Document”) has been prepared by SeSa SpA (“SeSa” or the “Company”) and by its subsidiaries (hereinafter «SeSa Group») for information purposes only. The presentation does not represent any investment research , recommendation, cons