[PDF] Presentazione Cembre 161116 ENG PDF Presentazione%20Cembre%20171116%20ENG.pdf

Cembre is Europe's leading manufacturer of electrical crimp type connectors and related In the first nine months of 2016 the Group invested €4 3 mn;

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Investor

Presentation

Results of the first 9 months of 2016

Cembre at a GlanceInvestor PresentationCembre is Europe's leading manufacturer of electrical crimp type connectors and related

installation tools;

The Group has grown its revenues by a

CAGR of 5.7%

in the last 15 years (2001-2015), from €56 mn in 2001 to €121.4 mn in 2015;

It is a dividend-payer with a 15 years

average dividend payout ratio of 37.3% , and an average dividend yield of 3.5% (2001-2015);

In 2015, the Groupinvested

€7.1 mn ; the total amount of investments made by the company in the last five years (2011-2015) is €53.5 mn ; at December 31, 2014 investments amounted to €9.2 mn . In the first nine months of 2016 the Group invested €4.3 mn

The product mix (a total of more than

12k end products sold during 2015) is offered to around 8k single clients around the world, with 10-biggest clients' purchases corresponding to c.16% of the consolidated turnover 2

Management Team

Business overview

Results of the first nine months of 2016

Guidance for the first nine months of 2016

Stock data & shareholding structure

Contact

Investor Presentation

Management teamGiovanni RosaniChief Executive Officer (CEO) Aldo Bottini BongraniSales and Marketing DirectorClaudio BornatiChief Financial Officer (CFO)Investor Presentation

Cembre cooperates with the users of

its products to find the best technical and economical solutions related to electrical connection applications. OUR MISSION 4

Group StructureInvestor Presentation

Production and commercial units

Commercial units

S.p.A

Cembre Ltd.

Great Britain

Cembre Sarl

France

Cembre

España SL

Spain

Cembre GmbH

Germany

Cembre Inc.

USA

100% 95% 95% 95% 71%

5% 5% 5% 29%

450
96
27
44
26
34

Number of employees at September 30, 2016

Business Overview

Cembre is Europe's leading manufacturer of electrical crimp type connectors and related installation tools.

Investor Presentation

Electrical ConnectorsTools

Identification

Systems

Cable Glands,

Accessories and

other 6

Railway Products

Made in Brescia...Cembre, established in 1969, manufactures its products in its state-of-art production facility located in Brescia. The facility covers an area of 51,000 m2on a total land

area of 121,000 m

2.Investor Presentation

7 ... and U.K.Investor Presentation

Cembre Ltd.

Factory in Curdworth Birmingham (UK)

In addition, Cembre has a

production facility in the UK which operates on a 8,800 m2land. This plant in

Birminghammanufactures

mainly for the local market.

The sales generated in the

UK are 16% of the

consolidated turnover of the first nine months of 2016. 8

Cembre has extensive know-how in its operating field, and its strong R&D team allows it to respond quickly to market demands.An Integrated Business Partner...Investor PresentationThe Group employs 677 employees worldwide.

R&D

Production

24
395
174

Sharp focus on customer needs

and the efficient international sales network (100 salesmen) are significant competitive advantages for Cembre. 9 84

Marketing/Sales/Distribution

Administration/Services

Number of employees in the segment, at September 30, 2016

Investor PresentationVery Strong in Europe...Cembre is present all over the Italian territory through a network of salesmen and representatives who are able to offer fast and constant technical assistance.Abroad, it operates through 5 subsidiaries in Europe (UK, France, Spain, Germany and Norway) and 1 in the USA.

Present All Around the World...

Cembre has a network of importers and agents who provide technical and commercial assistance and rapid delivery all around the world...

Investor Presentation

0%20%40%60%80%100%

120%

Electrical

connectorsTools Railway Products Cable Markers Cable Glands Terminal Blocks Others Total *Customers" bonuses not included

Revenues* breakdown

by Product Family (€ '000)Investor Presentation

9 months

2016

33,108 17,140 18,495 14,577 6,928 1,905 1,625 93,778

35.3% 18.3% 19.7% 15.5% 7.4% 2.0% 1.7% 100%

9 months

2015

33,850 17,480 18,745 12,861 6,716 1,697 1,417 92,766

36.5% 18.8% 20.2% 13.9% 7.2% 1.8% 1.5% 100%

Change

-2.2% -1.9% -1.3% 13.3% 3.2% 12.3% 14.7% 1.1% 12 Geographical Revenue BreakdownInvestor Presentation

Europe (ex-IT) 9 months

20169 months

2015Δ

Sales 38.8 mn 38.7 mn 0.3%

% in total 42.9% 42.5% 0.4pp

Rest of the World 9 months

20169 months

2015Δ

Sales 14.0 mn 15.9 mn -5.9%

% in total 16.5% 17.4% -0.9pp

Italy 9 months

20169 months

2015ΔSales 36.7 mn 36.6 mn 0.2%

% in total 40.6% 40.1% 0.5pp 13 € Millions

Economic

CrisisBack to Growth

15-Year Revenue EvolutionInvestor Presentation

56,056,959,965,170,084,1

93,4
94,3

76,093,9

103,0

103,9104,5112,9121,4

20406080100120140

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

A Wide Product-MixIn order to maintain its leading position and increase the penetration of market, Cembre had sensibly enlarged the range of products offered through:•Research activities mainly focused on the development of innovative products for the sectors with the highest growth potential (rail transportation, civil and industrial plant engineering),

Improvement and update of existing products

to get them easier to use and more efficient in their performances,

Introduction of complementary products

(e.g. cable markers).Investor Presentation 15

Electrical Connectors: 2.2% decrease in Sales

Characteristics:•high and safe performance guaranteed by effective Quality Control during production process•high level automation of manufacturing process and consequent costs reduction•quick adaptation of products to clients' needs, thanks to its high flexible productivity

Investor Presentation

Electrical Connectors: 9 months 2016 9 months 2015 ΔTotal Sales 33.1 € mn 33.9 € mn -2.2%Sales in Italy (% share) 15.9 € mn (16.9%) 15.5 € mn (16.7%) 2.2%

Sales in Europe ex-IT (% share) 14.2 € mn (15.2%) 15.4 € mn (16.6%) -7.5% Sales in RoW (% share) 3.0 € mn (3.2%) 2.9 € mn (3.1%) 2.8% 16

Tools: 1.9% decrease in Sales

Characteristics:•quick installation of connectors thanks to tools used for compressing and cutting the conductors •wide products range: mechanical, pneumatic, hydraulic and battery

operated toolsDevelopment of new products in last years: •B15-B54 battery operated "in line" hand-tools•hydraulic battery operated pump already marketed in Italy and Europe•the new generation of battery tools is intended to progressively substitute

the traditional ones, as they are more appreciated thanks to the elimination of physical endeavour

Investor Presentation

Tools: 9 months 2016 9 months 2015 ΔTotal Sales17.1 € mn17.5 € mn -1.9% Sales in Italy (% share) 4.4 € mn (4.6%) 3.6 € mn (3.9%)21.4% Sales in Europe ex-IT (% share) 7.0 € mn (7.5%) 6.9 € mn(7.5%) 1.2% Sales in RoW (% share) 5.8 € mn (6.2%) 7.0 € mn (7.5%) -17.0% 17

Railway Products: 1.3% decrease in Sales

Characteristics:•high quality products•constant R&D activities •high potential growthDevelopment of new products:•Nut Runner - NR-11P•Battery drillBoth the products are very competitive on the market since

they offer superior flexibility, lightness and velocity against alternative products

Investor Presentation

Railway Products: 9 months 2016 9 months 2015 ΔTotal Sales 18.5 € mn 18.7 € mn -1.3%Sales in Italy (% share) 1.3 € mn (1.4%) 2.1 € mn (2.3%)-37.3%

Sales in Europe ex-IT (% share) 12.0 € mn (12.8%) 11.6 € mn (12.5%) 3.4% Sales in RoW (% share) 5.2 € mn (5.5%) 5.0 € mn (5.4%) 2.9% 18

Cable Markers: 13.3% increase in Sales

With the introduction of these new products Cembre:•further enriched its offer with thousand of new articles (electrical

equipment wholesalers prefer supplier with a wide catalogue) •strengthened its competitive position in Italy and created big opportunities

to enter the European markets•entered a market, worth of Euro 25 million considering only Italy •improved the production structureDevelopment and production, in Brescia (Italy), of thermal

printer MG3

Investor Presentation

Cable Markers: 9 months 2016 9 months 2015 ΔTotal Sales14.6 € mn12.9 € mn 13.3% Sales in Italy (% share) 9.3 € mn (9.9%) 8.4 € mn (9.0%)11.3% Sales in Europe ex-IT (% share) 4.5 € mn (4.8%) 3.9 € mn(4.2%) 14.8% Sales in RoW (% share) 0.7 € mn (0.8%) 0.5 € mn (0.6%) 32.9% 19 Cable Glands: 3.2% increase in SalesInvestor Presentation Cable Glands: 9 months 2016 9 months 2015 ΔTotal Sales6.9 € mn6.7 € mn 3.2% Sales in Italy (% share) 5.8 € mn (6.2%) 5.7 € mn (6.2%)1.1% Sales in Europe ex-IT (% share) 0.9 € mn (1.0%) 0.8 € mn(0.9%) 9.8%

Sales in RoW (% share) 0.2 € mn (0.2%) 0.2 € mn (0.2%) 43.8%Terminal Blocks: 9 months 2016 9 months 2015 ΔTotal Sales 1.9 € mn 1.7 € mn 12.3%Sales in Italy (% share) 1.7 € mn (1.8%) 1.5 € mn (1.6%)13.6%

Sales in Europe ex-IT (% share) 0.2 € mn (0.3%) 0.2 € mn(0.2%) 2.1% 20

Consolidated Results of first nine months of 2016

Investor PresentationEuro Millions 9 months

20169 months

2015Changes

%9 months

2014Sales 90.5 91.3 -0.8% 83.7EBITDAIn % of sales

22.224.6%

22.224.3%

0.1% 18.2

21.7%

EBITIn % of sales

17.819.7%

18.019.7%

-0.8% 14.5 17.3%

EBTIn % of sales

17.819.6%

18.119.8%

-1.8% 14.7 17.5%

Net ProfitIn % of Sales

12.714.0%

12.914.2%

-1.6% 9.8 11.8%

Tax rate %28.4% 28.5% 32.9%

21
Group's Companies Turnover* for the first nine months of 2016

Investor Presentation

Company(Euro thousands)

9 months

20169 months

2015Change

%9 months 2014

Cembre S.p.A. (Italy)50,142 49,924 0.4% 43,371

Cembre Ltd. (UK)

13,633 14,479 -5.8% 15,376

Cembre S.a.r.l. (France)

6,899 6,481 6.4% 6,188

Cembre España S.L. (Spain)

5,990 6,217 -3.7% 5,101

Cembre Gmbh (Germany)

5,953 5,869 1.4% 5,706

Cembre AS (Norway)

7,878 7,553 4.3% 7,257

Cembre Inc. (US)

23 755 -97.0% 665

Cembre Group

90,518 91,278 -0.8% 83,664

* net of intragroup sales September 30, 2016 Consolidated Balance SheetInvestor Presentation Euro Millions Sept. 30, 2016 Dec. 31, 2015 Dec. 31, 2014 a

Net operating working capital% of sales

45.337.5%

47.639.2%

43.938.9%

Net fixed assets 69.8 71.0 69.6

Assets available for sales - - -

Severance indemnities 2.5 2.6 2.6

Provisions for risks and charges 0.3 0.4 0.3

Deferred taxes 2.1 2.2 2.4

Net invested capital (a+b+c-d-e-f) 110.2 113.4 108.2 g

Equity133.3 131.2 119.9

Net financial position (23.1) (17.8) (11.7)

Total sources (g+h) 110.2 113.4 108.2

23
Cembre's Revenue and Profitability Trend (€ '000) Investor Presentation 24

56.00356.94659.87065.14969.99784.127

93.41794.288

75.98493.934

103.028103.899104.547112.905121.377

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Revenues

11.017 10.25310.89212.18714.71819.131

21.710

19.273 13.41220.170

20,4%17,7%21,5%19,6%19,4%19,5%21,6%23,5%

05.00010.00015.00020.00025.00030.000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Ebitda

Index analysisInvestor Presentation

11,04%

9,16%

8,91%10,29%14,15%19,06%

19,67%

16,60%

10,81%16,57%

14,65%

12,80%

11,79%13,75%15,11%

0,00%

5,00%10,00%15,00%20,00%25,00%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

ROI (EBIT/Investments)

16,85%

13,73%

12,98%15,66%22,23%29,45%

29,05%

23,39%

15,01%24,34%

21,23%

17,12%

15,45%

18,35%20,61%

0,00%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

ROACE (EBIT/Net capital employed)

11,33%

9,02%

8,01%9,42%14,78%19,39%22,68%

18,81%

10,62%

15,80%

14,60%13,36%

11,08%

13,19%14,38%

0,00%

5,00%10,00%15,00%20,00%25,00%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

ROE (Net result/Equity)

12,38%

11,01%

10,63%11,75%15,75%

18,95%19,72%

17,20%

13,93%18,50%

16,78%

15,84%

15,15%17,21%18,81%

0,00%

5,00%10,00%15,00%20,00%25,00%

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

ROS (EBIT/Net sales)

Investments trendInvestor Presentation

€ '0002001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015Investments in tangible assets3,121 8,858 3,687 3,092 1,910 5,353 6,404 4,064 4,815 3.863 16,183 12,591 6,802 8,759 6,534

Investments in intangible assets28 1,812 130 112 142 87 500 544 182 169 418 597 573 477 601Total investments 3,149 10,670 3,817 3,204 2,052 5,440 6,904 4,608 4,997 4,032 16,601 13,188 7,375 9,236 7,13502.0004.0006.0008.00010.00012.00014.00016.00018.000

2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Investments in tangible assetsInvestments in intangible assetsTotal investments

2016 and onwards...Cembre focused on these targets:Increase of turnover

thanks to:

•A strengthening of Cembre competitive advantage by developing new products and continuous product range

renewing by an intense R&D activity,•An higher penetration in the foreign markets, especially in the US,•A commercial commitment focus on high growing potential products. Cost management

by a better operative efficiency obtained from economies of scale and process innovations;

Enforcing the

manufacturing structure by investing in high-tech, highly-automated machinery: •The purchase of the 13,500 m

2industrial area next to its plant (dec - 2011), by investing €9.7 mn (Brescia plant

and offices today cover a floor-space of 51,000 m

2while the total plant area reached 121,000 m

2), this area will be

dedicated to production enforcement.

Investor Presentation

27
28
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[PDF] [PDF] Presentazione Cembre 161116 ENG