COSTAMP GROUP INVESTOR PRESENTATION

Transcription

1 IR TOP LUGANO SMALL & MID CAP INVESTOR DAY, SEPTEMBER 21 st

2 1968 Foundation Milestones Purchase of the first CNC machines First automotive mold Steering Housing Transfer to the new buildings of Sirone (LC) First press installation, for the sampling department Acquisition of 49% of PAMA Srl Certifications ISO/TS Opening and launch of the new plant in Rivalta (TO), for plastic injection molds. New expansion of the Sirone plant: roughing & drilling 2015 Launch of the new dedicated warehouse for finished parts Acquisition of PiQ2, which develops simulation softwares. Horizon 2020 Award and Reverse Takeover with Modelleria Brambilla 2018 & Coming soon Takeover bid, Accelerated Bookbuilding and Environmental certification 14001

3 Business Units Costamp Group is the global leader in the engineering, production and trade of dies for die casting Business Unit HPDC DIES (64% 2017 revenues) LPDC & GRAVITY DIES (28% 2017 revenues) PLASTIC DIES (8% 2017 revenues) Alloy Aluminum Magnesium Aluminum Cast iron Plastic Market Automotive (95% of 2017 revenues) / lighting / heating / industrial appliances Main application Structural parts Powertrain Powertrain Structural parts Bumpers Door Panels Machines Used by customers HPDC machines from 500 tons up to 4500 tons Pouring machines Injection machines from 160 tons up to 3000 tons 3

4 International Presence Sales Office: Aichi ken (Japan) Sales Office: Shanghai (China) Production and Sales Office: Mumbai (India): Sales Office Bhiwadi (India): Production and Sales Office Sales Office: Sao Paulo (Brazil) Sales Office: Teheran (Iran) After Sales Support: Queretaro (Mexico) After Sales Support: Auburn Hills (USA) 65% EMPLOYEES BREAKDOWN BY COMPETENCES 17% 5% 4% 3% 3% 3% Production Design Quality Logistics Administration Purchase Sales Personnel # Sirone HQ 176 Turin facility 32 Pama 21 PiQ 2 5 Correggio 63 San Giovanni in Persiceto 14 Total 311 4

5 Costamp Group Total Revenues over the years (in k ) CAGR 10-17: +18,76% *2016 and 2017 data are pro-forma consolidated * *

6 Main competitors in EU die-casting mould manufacturers Aluminum large dies Manufacturers Country 2012 Turnover ( M) 2016 Turnover ( M) EXCO Technologies Ltd. (2) CAN % Costamp Group SpA (1) IT % Meco Eckel GmbH (3) D % Schaufler D % Aurrenak E % Heck & Becker GmbH (4) D 22 25* 14% Delaware Dynamics (4) USA 15 20* 33% SAPP Spa IT % Vetimec Soc. Coop. IT % SCS Rodegari IT % SCM Zanussi Srl IT % CO.ME.ST. Srl IT % % (1) Pro-forma consolidated 2016 (2) Casting and Extrusion Division only (3) LPDC sold in 2016 (4)

7 Value Chain TURN-KEY SERVICE A) PROJECT MANAGEMENT B) DESIGN C) HPDC/LPDC DIES D) TRY-OUTS/SMALL PRODUCTIONS 1. Equipment manufacturing; 2. Consultancy service from A to Z. 1. Part co-design; 2. Die design; 3. Simulation work (PIQ 2 ). 1. Complete dies; 2. Complete sets of casting inserts; 3. Maintenance & Refurbishment. 1. Samplings: Costamp Group is equipped with an internal foundry department in the Sirone plant; 2. Dimensional and metallurgical controls; 3. Complete set-up process; 4. Process development; 5. Production of small batches & special series; 6. Post-sales service/support. 7

8 High Pressure Die Casting (HPDC): Applications Powertrain Gearbox housing Cylinder blocks Cylinder Head Cover Flange Housing Steering housing Clutch Housing 8

9 High Pressure Die Casting (HPDC): Applications_Structural Parts Instrument Panels Window Frames Shock Towers Front Crossbeam Bearing Flange 9

10 High Pressure Die Casting (HPDC): Trucks Ladderframe TransmissionHousing Flywheel Housing Cover Cooling Duct Oil Pan 10

11 Low Pressure Die Casting (LPDC) / Gravity: products and applications Products Applications Engine Blocks ( Various configurations ) Cylinder Head Cover Gearbox Housing Exhaust Manifold 11

12 Case History Lamborghini Huracan Rear Grille 12

13 Main Customers 58% of revenues is generated by the first 10 Clients, in line with market concentration High level of Client loyalty 13

14 HORIZON 2020: Puzzle_Die Costamp has been awarded the Horizon 2020 from the European Commission for the «puzzle die» project. Objective Costamp, thanks to FEM/CFD simulation suppliers, had been able to implement a new design and construction technique that allowed to build tools in a way to make them last longer than ever before. The need to get FEM results in a shorter time, gave Costamp the idea to start the development of a brand new software, based on an easy-to-use configuration and with the hope to be possibly having a disruptive impact on the HPDC market. 14

15 PUZZLE DIE: Official Endorsement By Premium OEM For The Horizon 2020 Funding Program BMW AG Daimler AG Jaguar Land Rover 15

16 Regulations in Europe force OEMs to significantly reduce CO 2 emissions ALUMINUM: best balance between weight reduction vs steel (-40%) and additional cost involved (+30%) Source: McKinsey In 2025 penalties of 12,350 per car if the car sold overcomes the average of 75 gr CO 2 emissions per km Source: McKinsey + ITF 16

17 Growth Strategy Development of cross-selling on low pressure, coming from Modelleria Brambilla, exploiting Costamp network and the strong demand for high performance aluminum components in the electric market. New organization of the group workflow through make or buy concept, in order to develop a higher turnover, focusing only on the most critical processes and outsourcing processes with lower added value. Creation of a new premium line on HPDC, thanks to the proprietary Puzzle Die technology. Development of partnerships with OEM and Tier 1 on specific innovative projects: lowpression forging, forged safety parts, aluminum wheel rims in mass production, aluminum chassis, structural parts in magnesium, each as a unique partner of an international leading Tier 1. International expansion through a glocal approach with a direct and well established presence in the countries where OEM and Tier 1 operate: Germany, USA, Mexico (today's market), China and India (tomorrow's market). 17

18 Income Statement & Balance Sheet 2017 Consolidated Pro Forma 2017 Consolidated Pro Forma Euro (/mln) Euro (/mln) Value of Production 59.0 Net Working Capital (NWC) 9.4 EBITDA 4.6 Fixed net assets 50.5 EBITDA % 7.8% Other funds and provisions (6.3) EBIT 1.7 Net Capital Employed 53.6 EBIT % 2.8% Equity 26.7 Net Profit 0.4 Net Financial Position (Cash) 26.9 Net Profit % 0.6% Sources 53.6 Order Backlog (as of March 31 st 2018): 55 mln VS % Order Backlog (as of March 31 st 2017): 32 mln 18

19 CONTACTS COSTAMP GROUP Via Verdi, Sirone (LC) T BANCA INTERMOBILIARE DI INVESTIMENTI E GESTIONI NomAd Via Meravigli, Milano (MI) T corporatefinance@bancaintermobiliare.it INVEST BANCA Specialist Via Luigi Cherubini, Empoli (FI) T negoziazione@investbanca.it IR TOP CONSULTING Equity Research & Investor Relations Maria Antonietta Pireddu Via C. Cantù, Milano T /4 m.pireddu@irtop.com INVEST ITALY SIM Corporate Broker Via San Clemente, Milano (MI) T capitalmarket@investbanca.it 19