Recticel Sa · EURONEXT:RECT
Recticel Sa — Merger or Acquisition (March 2022)
23 slides from Recticel Sa's merger presentation, Mar 22, 2022
Slide 1: Acquisition of Trimo
Acquisition of A key step in our growth strategy 1 Brussels, March 22, 2022 Trimo acquisition
Slide 2: CEO statement on Trimo acquisition as strategic milestone
The acquisition of Trimo marks another important milestone in Recticel’s strategic portfolio reorientation. Following our announced divestments of the Bedding and Engineered Foams business lines, leading Recticel to become a pure player in insulation, today’s announcement represents an important ste
Slide 3: An acquisition that supports Recticel's long term strategic play
An acquisition that supports Recticel’s long term strategic play Recticel entered into a final agreement with Innova Capital to acquire 100% of Trimo. This acquisition is a 3-step adjacency play, from a product (insulation board vs insulated panels), a market (residential vs industrial) and tech
Slide 4: Transaction details
Transaction details Acquisition of 100% of Trimo d.o.o. in cash for an enterprise value of EUR 164.3 million. (9.5 multiple 2021A normalized EBITDA) This acquisition will allow Recticel to: expand its insulation product portfolio into the adjacent and growing insulated panel market; accelera
Slide 5: Spotlight on Trimo
Spotlight on 5 Brussels, March 22, 2022 Trimo Acquisition acquisition
Slide 6: Brussels, March 22, 2022 Trimo acquisition
6 Brussels, March 22, 2022 Trimo acquisition
Slide 7: Brussels, March 22, 2022 Trimo acquisition
7 Brussels, March 22, 2022 Trimo acquisition
Slide 8: Brussels, March 22, 2022 Trimo acquisition
8 Brussels, March 22, 2022 Trimo acquisition
Slide 9: Trimo at a glance
Established in 1961 Trebnje, Leading pure play Slovenia mineral wool insulated panel specialist in Europe Focus on at a glance non-residential projects 3 production lines in Slovenia (largest mineral wool panel production plant in Europe) 1 production line in Serbia Business activity 480 employees P
Slide 10: Trimo sales are mainly split across 3 regions
Trimo sales are mainly split across 3 regions Western Europe Central Europe South-East Europe Other markets 10 Brussels, March 22, 2022 Trimo acquisition
Slide 11: The world of insulated panels offers distinguished benefits
The world of insulated panels (PUR/PIR and MW), manufactured on continuous lamination, offers distinguished benefits Single factory-manufactured unit Design flexibility • Meet accelerated project schedules • Choice of profiles, colours, coating types • Up to 20% cost reduction and positioning • 30-5
Slide 12: Brussels, March 22, 2022 Trimo acquisition
12 Brussels, March 22, 2022 Trimo acquisition
Slide 13: Trimo product portfolio: TRIMOTERM
Trimo product portfolio TRIMOTERM A range of environmentally friendly façade, wall and roof panels, which are ideal for constructions where there are very high demands for fire resistance, sound reduction and thermal insulation. TRIMOTERM FTV TRIMOTERM FTV HL TRIMOTERM SNV TRIMOTERM SOUND (walls, fa
Slide 14: Trimo product portfolio: QBISS One & QBISS Screen
Trimo product portfolio QBISS One & QBISS Screen A design and technological breakthrough. A world class-engineered, prefabricated architectural metal wall that offers a true alternative to conventional built-up systems. QBISS One QBISS Screen 14 Brussels, March 22, 2022 Trimo acquisition
Slide 15: Trimo product portfolio: ARTME
Trimo product portfolio ARTME A Red Dot award-winning product, the unique, high-tech façade surface treatment that allows literally unlimited shapes, patterns and visual effects to be inscribed on the façade envelope. 15 Brussels, March 22, 2022 Trimo acquisition
Slide 16: Spotlight on Recticel
Spotlight on Recticel 16 Brussels, March 22, 2022 Trimo Acquisition acquisition
Slide 17: Acquiring Trimo will accelerate growth of Recticel as pure insulation player
After geographic expansion, new product introductions and distribution channels, acquiring Trimo will accelerate the growth of Recticel as a pure insulation player. 2007 2008 2012 2014 2016 2018 2019 2022 ✓ Acquisition of ✓ Acquisition ✓ New plant plant in of Gradient Bourges ✓ Increase Angers (F) (
Slide 18: The Trimo acquisition is a 3-step adjacency play
The Trimo acquisition is a 3-step adjacency play, from product, market and technology perspective Mäntsälä (FI) Stoke-on-Trent (UK) PIR insulation boards PIR insulation boards Burntwood (UK) Flat and tapered roof insulation Trimo, Trebnje (SL) Mineral wool insulated panels Wevelgem (BE) PIR insulati
Slide 19: Insulated panels diversify Recticel's product portfolio
Insulated panels diversify Recticel’s product portfolio Insulated panels are structurally attractive, expected to continue to grow 3-4% p.a. in volume Insulated panels increase Recticel’s exposure to non-residential/industrial end-markets Rising building regulations and norms (e.g. thermal insulatio
Slide 20: Recticel, a portfolio of premium products with differentiated performance
Recticel, a product portfolio of premium products with differentiated performance and applications Insulation boards Insulated panels Vacuum Insulated Panels (VIP) Acoustic panels (FBF) + Thermal insulation PIR boards + Prefabricated mineral wool + Ultra-high performance + Acoustic insulation for in
Slide 21: Provisional timeline
Provisional timeline 21 Brussels, March 22, 2022 Trimo Acquisition acquisition
Slide 22: Fast-paced integration plan after closing
Following the closing of the acquisition, Recticel will launch a fast-paced integration plan and continue to focus on high value-added segments Signing Agreement Q3, 2022 2022 – 2024 March 21, 2022 ✓ Authority ✓ Closing ✓ Pursue ambitious approval Agreement growth for the process Insulation business
Slide 23: Questions?
Questions? 23 Brussels, March 22, 2022 Trimo acquisition