Ferrari Nv · MIL:RACE
Ferrari Nv — Q3 2015 Earnings Presentation
27 slides from Ferrari Nv's earnings presentation, Oct 28, 2015
Slide 1: Ferrari Q3 2015 Results
ba FOERaFi
Slide 2: Safe Harbour Statement
| SAFE HARBOUR STATEMENT Q3 2015 Results October 28 2015 These are “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Certain information included in this presentation, including, without limitation, an
Slide 3: Record Q3 2015 Results
| RECORD Q3 2015 RESULTS Shipments stood at 1,949 units, up 21% vs. previous year V8 up 33%: success of 488 GTB, California T and 458 Speciale A more than offsetting the end of life-cycle of 458 Italia and 458 Spider V12 down 17%; F12berlinetta at 4th year of commercialization Financial results Net
Slide 4: Q3'15 key figures: shipments, revenues, EBITDA, cash
Q3'15 213 Q3'15 1,949 Q3'14 175 Q3'14 1,612 Q3'15 723 Q3'15 74 Q3'14 662 Q3'14 (7) • • • • Q3'15 140 Sept 30, 2015 827 Q3'14 104 Dec 31, 2014 566
Slide 5: Q3 2015 - Shipments by Hub
| Q3 2015 - SHIPMENTS BY HUB! Q3 2015 Results October 28 2015 Americas Americas’ shipments increased by 30% "US - Ferrari’s largest single market: increase primarily driven by California T =LaFerrari shipments to US commenced in Q2 2014 EMEA EMEA’s shipments increased by 16% Qs -Strong shipment perf
Slide 6: Net revenues bridge Q3 2014 to Q3 2015
723 662 75 7 4 25 21 (25) 110 103 51 76 537 462 Q3 2014 Cars and spare parts Engines Sponsorship, commercial Other Q3 2015 and brand Cars and spare parts Engines Sponsorship, commercial and brand Other • •
Slide 7: Adjusted EBIT bridge Q3'14 to Q3'15
Adj. EBIT Q3'14 Vol Mix Ind. Costs R&D SG&A FX Other Adj. EBIT Q3'15 • • • • • •
Slide 8: Net Cash Bridge June 30, 2015 - September 30, 2015
October 28 2015 | NET CASH BRIDGE JUNE 30, 2015 - SEPTEMBER 30, 2015 3 oat) Net Cash bridge (€m) ' FCF +€74M <: > os a (74) (3) (18) (44) Cash and roan (106) (23) (9) (4) Equivalent _ Deposit 106 net o Debt 7 pa 789 213 (74) (3) (18) (44) - (23) (9) (4) FO > 5 $0 > os RS o go $ 2 é s 3 s& ra ee s <
Slide 9: 488 Spider
—_— Q3 2015 Results ASP IE October 28 2015 = imp [aD] SPUD ER? Product concept Customer profile Gurclopenlauidivingjemouons) © 60% Repeaters / 40% New Customers * 90% only buy spider products + First presentation, September 14, 2015 . oe g * More interested in driving emotions than pure + Two seater
Slide 10: Formula 1 Activities
FORMULA 1 ACTIVITIES Q3 2015 Results October 28 2015 1 place in the Malaysia, Hungary and Singapore GP 14 podiums so far S.Vettel 2"4 in Driver’s Championship @ 251 pts Ne / Constructor’s Championship 1. Mercedes 574 2. ScuderiaFerrari 374 3. Williams 220 4. RedBull Racing 150 5. Force India 102 She
Slide 11: Client Relation Activities
CLIENT RELATION ACTIVITIES Ferrari International Cavalcade San Francisco, August 10-15 50 customers attended Create unique driving experience for Ferraristi and nurture the brand Ne awareness tad Ferrari Tribute to Chinese Culture More than 500 customers and prospects attended Started in April 2015,
Slide 12: Corse Client Activities
CORSE CLIENT ACTIVITIES Q3 2015 Results October 28 2015 Ferrari Racing Days Le Castellet (FRA) XXProgrammes & F1 Clienti Test Days, Spa (BEL) \ (— Ferrari Challenge Europe Imola (ITA) ~ Ne Circuit Paul Ricard July, 24-26 Ferrari Challenge EU, round 4 Entered drivers: 28 XX Programmes, round 5 Entere
Slide 13: Ferrari Store and E-commerce
Ferrari Store Launch of the new Ferrari store in Dubai (Dubai Mall & Mall of Emirates) Ferrari Store Junior Asia Launch of the new Ferrari Junior store in Hong Kong (Festival walk mall). E-commerce More than 4.9M visitors and more than 27,000 orders processed since January 2015 Q3 2015 Results Octob
Slide 14: What's Next?
WHAT’S NEXT? Q3 2015 Results October 28 2015 FRR Announced in October with production limited to 799 units, all pre-sold 780 hp, naturally-aspirated V12 derived directly from the F12berlinetta Newly developed Virtual Short Wheelbase system improves the car’s responsiveness to make it feel more agile
Slide 15: Stock Performance Since IPO
| STOCK PERFORMANCE SINCE IPO OFFERING price range US$48-US$52 PRICING US$52 OPENING RANGE: US$59-US$62 OPENING: US$60 IPO (21-Oct) — 22-Oct 23-Oct 62 US$55.00 ! US$56.75 1 60 +5.8% | +3.2% | 58 56 54 26-Oct US$56.38 1 (0.7%) | 27-Oct US$55.02 1 (2.4%) j Q3 2015 Results October 28 2015 27-Oct closin
Slide 16: Appendix
Slide 17: Notes to the Presentation
October 28 2015 NOTES TO THE PRESENTATION 32015 ly . Shipments geographical breakdown EMEA includes: Italy, UK, Germany, Switzerland, France, Middle East (includes the United Arab Emirates, Saudi Arabia, Bahrain, Lebanon, Qatar, Oman and Kuwait) and Rest of EMEA (includes Africa and the other Europe
Slide 18: Shipments by region and 2015 outlook
~7,700 +21% 7,255 1,949 ~1,050 +63% 844 295 1,612 ~600 675 -24% 157 181 +30% 207 ~2,650 2,462 682 523 +16% 3,274 ~3,400 815 701 Q3 2014 Q3 2015 FY 2014 FY 2015E EMEA Americas Greater China Rest of APAC EMEA Americas Greater China Rest of APAC
Slide 19: Reconciliation to non-GAAP measures in the appendix
1 reconciliation to non-gaap measures are provided in the appendix
Slide 20: Pro Forma Balance Sheet
PRO FORMA BALANCE SHEET Q3 2015 Results October 28 2015 Ferrari pro forma Net Debt excluding financial receivables is equal to €828m as of September 30, 2015 tal Net Cash/(Net Debt) (€m) Reflects the effects of the announced reorganization completed in October, shortly prior to our i i @D Capital @
Slide 21: Non-GAAP Financial Measures
| NON-GAAP FINANCIAL MEASURES Operations are monitored through the use of various Non-GAAP financial measures that may not be comparable to other similarly titled measures of other companies Accordingly, investors and analysts should exercise appropriate caution in comparing these supplemental finan
Slide 22: Reconciliation of Non-GAAP Measures: Adj. EBIT
October 28 2015 | RECONCILIATION OF NON-GAAP MEASURES: ADJ. EBIT oy emir wt wo EBIT 141 89 Expense related to the resignation of the former Chairman ° b Income and expenses incurred in (1) 7 connection with our IPO and separation Adjusted EBIT 140 104 22
Slide 23: Reconciliation of Non-GAAP Measures: EBITDA
| RECONCILIATION OF NON-GAAP MEASURES: EBITDA ee smuen ae ee Income tax expense 48 36 Net financial expense/(income) (1) (5) Amortization and depreciation 73 71 23
Slide 24: Reconciliation of Non-GAAP Measures: Adj. EBITDA
October 28 2015 | RECONCILIATION OF NON-GAAP MEASURES: ADJ. EBITDA oy emir wt wo EBITDA 214 160 Expense related to the resignation of the former Chairman ° b Income and expenses incurred in (1) 7 connection with our IPO and separation Adjusted EBITDA 213 175 24
Slide 25: Reconciliation of Non-GAAP Measures: Total Net Cash
| RECONCILIATION OF NON-GAAP MEASURES: TOTAL NET CASH ee smuen Soren 20 sein 204 Cash and cash equivalents 190 134 Deposits in FCA Group cash management 1.216 942 pools > Financial liabilities with FCA Group (389) (379) Financial liabilities with third parties (190) (131) Total Net Cash 827 566 25
Slide 26: Reconciliation of Non-GAAP Measures: Pro-Forma Net Debt
RECONCILIATION OF NON-GAAP MEASURES: PRO-FORMA NET DEBT Q3 2015 Results October 28 2015 € million pools Financial liabilities with FCA Group Financial liabilities with third parties Total Net Cash/(Net Debt) Cash and cash equivalents Deposits in FCA Group cash management (2,163) (1,973) 26
Slide 27: Reconciliation of Non-GAAP Measures: Free Cash Flow
RECONCILIATION OF NON-GAAP MEASURES: FREE CASH FLOW Q3 2015 Results October 28 2015 =“ ee oe Cash flows from operating activities 118 Cash flows used in investing activities (44) Free Cash Flow 74 27