Zignago Vetro Spa · MIL:ZV
Zignago Vetro Spa — Investor Presentation (October 2012)
13 slides from Zignago Vetro Spa's investor presentation, October 2012
Slide 1: Zignago Vetro Group Company Overview
Zignago Vetro Group Company Overview October 2012
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 170,7 mln Euro Wine producer 100% Zignago Power S.r.l. 100% 50% 99,9% 30% Electricity producer Verreries Brosse Vetri
Slide 3: Milestones
Milestones 1950's Industrie Zignago Santa Margherita ("IZSM") builds its first glass production plant (jars and bottles) 1979 IZSM establishes Zignago Vetro S.p.A. conferring its glass production plants 1987 Zignago Vetro acquires a plant in Empoli from an insolvency proceeding IZSM establishes Atti
Slide 4: Our Presence in Selected Business Segments
Our Presence in Selected Business Segments Market Competitive 2011 (€m) Products Main Features segment Strengths Food & Flexibility, efficiency and Beverage technical know-how key for Zignago Vetro success Flexibility Sales €170,7m Focus on selected segments of food & beverage and Quality Cosmet
Slide 5: International Presence with an Italian Footprint
International Presence with an Italian Footprint Trabki, Poland Ormelle (TV) Vieux Rouen sur Bresle, France Paris, France San Vito al Tagliamento (PN) Fossalta di Portogruaro (VE) New Jersey, USA Trento Empoli (FI) Pergine Valsugana (TN) Legend: Zignago Vetro Verreries Brosse Vetri Speciali Huta Szk
Slide 6: What Makes Us Different?
What Makes Us Different? Unique positioning and economic returns thanks to a distinctive business model Outperform market growth Maximise ROCE & profitability Competitive advantage 6
Slide 7: Excellent Longstanding Client Relationships and Good Revenues Visibility
Excellent Longstanding Client Relationships and Good Revenues Visibility Concentration Customer rate of first loyalty1 5 clients (Revenues) Zignago Vetro 16% 93% Verreries Brosse 53% 95% Group Vetri Speciali 19% 88% Revenues from clients present also the 2 previous years (data referred to 2011) 7
Slide 8: Strong Revenues Growth and Top of the Market Profitability
Strong Revenues Growth and Top of the Market Profitability Revenues (€m) EBITDA (€m) 300 80 27,2% 27,0% 26,7% 28% 250 70 26,7% 26,4% 25,7% 200 60 26% +10.0% -10.2% +14.9% 150 +6.7% 291,2 50 76,9 +14.9% 256,7 264,9 69,9 70,7 24% 240,7 230,4 40 64,3 62,3 100 209,4 53,8 22% 30 50 20 20% 0 2006 2007 200
Slide 9: Strong track record in sales and profitability
Strong track record in sales and profitability Euro (m) 300 ZV Group 250 200 ZV 150 100 ZV Group 50 ZV 0 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 Sales EBITDA 9
Slide 10: 1H12 Revenues, Profitability
1H12 Revenues, Profitability ZIGNAGO VETRO GROUP Revenues (€m) EBITDA (€m) Net Result (€m) 40 35% 150 11,8% 11,6% 25,2% 30% 20 10,5% 25,1% 24,5% 120 30 25% 10% 15 90 152,3 20% +12.4% 147,6 +3.2% 20 37,2 37,3 131,3 33,0 15% 10 60 17,1 16,0 5% 15,5 10% 10 5 30 5% 0 0 0% 0 0% 1H 2010 1H 2011 1H 2012 1H
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) 210 60 20,5% 21,3% 24% 180 50 17,3% 20% 150 15,8% 16,3% 16,0% 120 40 16% 196,6 206,4 30 58,4 12% 90 176,1 183,5 50,4 151,9 43 49,1 42,3 60 121,9 123,2 20 38,1 41,8 8% 10 4% 30 0 0% 0 2006 20
Slide 12: Cash Flow From Operations and Capex
Cash Flow From Operations and Capex Cash Flow from Operations (before capex) (€m) Capex (€m) 65 60 40 55 35 50 4,5 45 30 40 Net Capex 7,6 related to VS 25 35 acquisition 21,5 42,2 30 62,3 20 54,7 36,0 25 2,7 44,1 47,1 15 28,8 20 41,9 33,2 36,6 22,4 15 10 20,5 16,7 10 20,7 14,5 5 11,0 5 0 0 2005 2006
Slide 13: Healthy financial structure, EPS and dividends
Healthy financial structure, EPS and dividends Key financial structure ratios EPS and Dividend distribution (Euro) 1,6 70% 70% 70% 71% 71% 1,3 0,600 70% 1,4 1,1 0,500 0,421 0,422 0,436 1,2 57% 60% 1,1 0,347 1,0 0,400 0,311 1,0 0,9 0,300 50% 0,193 0,295 0,99 0,7 0,300 0,310 0,8 0,89 0,87 0,200 0,218