Sit S.p.a. · MIL:SIT
Sit — H1 2018 Earnings Presentation
12 slides from Sit's earnings presentation, Sep 10, 2018
Slide 1: 2018H1 - Results presentation
2018H1 - Results presentation September 10, 2018
Slide 2: Disclaimer
Disclaimer • This presentation has been prepared by SIT S.p.A. only for information purposes and for the presentation of the Group’s results and strategies. • For further details on the SIT Group, reference should be made to publicly available information. • Statements contained in this presentation
Slide 3: 2018H1 - Key financial results
2018H1 - Key financial results (Euro.000) 2018H1 % 2017H1 % diff diff% • Revenue growth of 17,6% is all organic: - Heating, +13,3€ +10,3% Revenues 175.931 100,0% 149.124 100,0% 26.267 17,6% - Smart Gas Metering ,+13,0€ +65,0% EBITDA Adjusted (1) 23.352 13,3% 21.599 14,5% 1.753 8,1% • Revenue growth
Slide 4: Sales bridge
2018H1 - Sales bridge Euro millions 2,7 4,1 175,4 33,1 149,1 2017.H1 Vol/Mix Prices Forex 2018.H1 4
Slide 5: Sales breakdown by Division and geography
2018H1 - Sales breakdown by Division and geography Divisional sales Euro.000 2018H1 % 2017H1 % diff diff % • Growth is all internal Heating 142.303 81,2% 129.030 86,6% 13.273 10,3% Smart Gas Metering 32.922 18,8% 19.954 13,4% 12.968 65,0% Total product sales 175.225 99,9% 148.984 99,9% 26.241 17,6%
Slide 6: Heating sales growth driven by Europe and America
2018H1 - Heating sales growth driven by Europe and America Heating product sales by application Euro.000 2018H1 % 2017H1 % diff diff % Central Heating 91.651 64,4% 82.589 64,0% 9.061 11,0% Direct Heating 21.966 15,4% 21.492 16,7% 474 2,2% Storage Water Heating 11.215 7,9% 9.794 7,6% 1.420 14,5% Cate
Slide 7: Smart Gas Metering confirms growth trend
2018H1 - Smart Gas Metering confirms growth trend Smart Gas Metering product sales by application Euro.000 2018H1 % 2017H1 % diff diff % Residential 31.666 96,2% 18.568 93,0% 13.098 70,5% Commercial & Industrial 975 3,0% 1.294 6,5% -319 -24,7% Other 281 0,8% 92 0,5% 189 - Total product sales 32.922
Slide 8: EBITDA Adjusted bridge
2018H1 – EBITDA Adjusted bridge Euro millions YoY: +8,1%, (+13,4% at same forex rates) 4,1 1,6 1,1 5,9 0,6 23,4 21,6 EBITDA Adj Vol/Mix Prices, net Operations Forex, net Other EBITDA Adj 2017.H1 2018.H1 8
Slide 9: Financial charges
2018H1 – Financial charges Euro.000 2018H1 2017H1 diff Financial charges (2.318) (8.002) 5.684 Financial income 2.975 101 2.874 Net financial (charges)/income 657 (7.901) 8.558 • New post IPO capital structure and improved conditions on new funding facilities reduce financial charges by 5,7€ million
Slide 10: Net financial position
2018H1 – Net financial position Euro millions NFP/ LTM EBITDA Adj : 1,7x 6,0 80,9 0,8 1,7 0,5 10,6 65,1 22,4 24,5 NFP Current Change Capex, net Interest Amortized Dividends Forex NFP 2017.12 Cash flow in NWC paid cost and paid translation 2018.6 change in FV reserve and other 10
Slide 11: Net trade working capital
2018H1 – Net trade working capital Diff vs Diff vs Euro.000 2018.6 2017.12 2017.6 2017.12 2017.6 Inventory 59.108 38.130 20.978 46.073 13.035 Accounts receivables 58.708 52.126 6.582 43.934 14.774 Accounts payables 81.374 68.367 13.007 62.348 19.026 Net Trade Working Capital - Reported 36.442 21.889
Slide 12: Contacts
Contacts Paul Fogolin Chief Financial Officer & Investor Relator [email protected] SIT S.P.A. Viale dell'Industria 31-33 - 35129 Padova (Italy) Ph. + 39 049 8293.111 Fax + 39 049 8070093 www.sitgroup.it 12