Zignago Vetro SpA · MIL:ZV
Zignago Vetro SpA — STAR Conference (March 2017)
11 slides from Zignago Vetro SpA's conference presentation, March 2017
Slide 1: Zignago Vetro Group Company Overview
Zignago Vetro Group Company Overview March 2017
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 183,2 mln Euro Wine producer 100% Zignago Power S.r.l. 100% 50% 100% 30% Electricity producer Huta Szkla Verreries Bro
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
Slide 4: Presence in Selected Business Segments
Presence in Selected Business Segments 2016 (€m) Market Segment Products Main Features Competitive Strengths Flexibility, efficiency and Food & technical know-how key for Zignago Vetro Beverage success Flexibility Sales €183.2m Focus on selected segments Quality Cosmetics & of food & beverage an
Slide 5: Manufacturing Facilities – international presence
Manufacturing Facilities – international presence Geographical Presence Manufacturing Locations Revenues breakdown (2016 FY) Facility Location Portogruaro, (Venice) Italy Other Specialty 4% Empoli (Florence) Food & Cosmetics Italy Beverage & 22% Perfumery 32% Vieux Rouen sur Bresle (Normandie) Franc
Slide 6: Business model and Client Relationships
Business model and Client Relationships Concentration Customer rate of first loyalty1 5 clients 2 (Revenues) Zignago Vetro 16% 92% Verreries Brosse 47% 93% Vetri Speciali 25% 95% HSC 22% 87% 1 Revenues from clients present also the 2 previous years 6 2 Net of intercompany sales
Slide 7: Financial Performance
Financial Performance Revenues (€m) EBITDA (€m) 350 25,1% 90 23,4% 23,6% 22,9% 21,8% 25% 300 80 20% 250 70 200 +3.3% +1.4% 60 15% -2.2% +5.5% 150 322,9 50 75,1 80,9 10% 298,8 292,3 302,0 318,5 69,8 67,0 65,8 40 100 5% 30 50 20 0% 0 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 EBITDA (€m) Margin
Slide 8: Zignago Vetro Group: Sales and Profitability Track Record
Zignago Vetro Group: Sales and Profitability Track Record Sales and EBITDA (1988-2016) Euro (m) CAGR: +7,7% 350 322,9 298,8 300 250 230,4 209,4 200 141,9 150 104,0 CAGR: +7,6% 94,2 100 80,9 71,4 69,8 75,1 57,9 62,3 53,8 40,4 34,6 50 26,1 23,3 14,0 18,5 10,5 0 1988 1989 1990 1991 1992 1993 1994 1995
Slide 9: 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) 320 26,0% 25,1% 24,8% 28% 80 280 21,7% 70 20,0% 24% 240 60 20% 200 50 16% 160 311,9 40 76 79,9 80,1 12% 274,6 64,7 120 216,9 235,4 241,5 30 60,5 8% 80 20 40 10 4% 0 0 0% 2012 2013 2014 2015
Slide 10: Cash Flow From Operations and Capex
Cash Flow From Operations and Capex Cash Flow from Operations (before capex) (€m) Capex (€m) 60 70 55 50 60 45 50 40 Net Capex 35 related to VS 40 acquisition 30 72,0 53,2 54,9 54,3 2,7 25 30 20 41,3 39,9 49,3 45,9 20 15 32,3 30,7 10 10 5 0 0 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 HSC acq
Slide 11: Financial structure, EPS and dividends
Financial structure, EPS and dividends Key financial structure ratios EPS and Dividend distribution (Euro) 80% 2,5 0,60 72% 70% 70% 70% 71% 71% 70,0% 70,0% 70,0% 70,0% 1,9 70% 2,0 0,50 1,6 1,7 1,6 0,40 0,38 0,38 1,5 1,3 1,3 0,40 0,35 0,35 60% 0,32 0,33 1,1 0,28 0,30 1,0 0,30 0,27 0,9 1,0 50% 0,7 1,0