Investor Presentation • Nov 15, 2017
Investor Presentation
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by consolidating our leadership in the European and Turkish markets
by increasing our penetration in dynamic markets (Latam, Middle East)
by entering newer markets (China, India)
in components for domestic appliances
in components for professional cooking
in components for gas appliances other than cooking
Brazil is a big market, difficult to supply from abroad, due to logistics, duties, forex impact.
Start of production in Brazil in 2001. A new factory was set up in Jundiaì (SP) in 2007, starting from greenfield. Total investment € 8.5 mnWhole manufacturing process of standard burners and, from 2016, of special burners Same products, technology and quality as in Italy
€ 5.9 mn sales in H1 17 (€ 4.4 mn in H1 16, +32%) 73 people employed 80% market share in gas hobs segment in Brazil Export sales (other Latam countries) at 43% in H1 17
Ongoing extension of the plant (from 5,100 to 7,200 sqm) Ongoing negotiations with large multinational groups Expected increase of share in the cookers segment
Turkey has become the largest manufacturer of white goods in Europe (domestic manufacturers and production sites of multinational groups).
Unrivalled competitiveness of Turkish production (low input costs, high productivity, environment industry-friendly)
In 2012 Sabaf built from greenfield a new factory in Manisa (Izmir) - € 12 mn investment - 11,600 sqm Manufacturing of standard burners Same products, technology and quality as in Italy. In H1 17 automation of all die-casting machinery
WHERE WE ARE€ 6.3 mn sales in H1 17 (€ 5.0 mn in H1 16, +26%) exl. traded goods 93 people employed
WHERE WE WILL BEFurther expansion of production capacity is ongoing Constant growth has been planned for next years
Market size: 26 mn hobs
19 mn hobs manufactured for the domestic market
7 mn hobs manufactured for export markets
Expected product mix trend: higher value, volume growth New standards concerning gas hobs apply starting from April 2015. The new
standards state 3 different energy clusters: >55%, >59% and >63% efficiency rate.
At present only 10%-15% of hobs meet the highest rate.
Sabaf has developed a new special burner that reaches an efficiency rate higher than 65%. €2mn capex
In June 2016 Sabaf acquired a 70% stake in ARC ARC is the Italian leader in burners for professional cooking Sabaf enters into a new market, with appealing growth rates and complementary to the core sector
Specifications traditionally belonging to professional burners are now asked also by manufacturers of premium / high-end domestic cookers (high power, heavy duty, materials, aesthetics,…) Access to foreign markets Joint forces in R&D
Mr. Loris Gasparini (previously sole owner of ARC) keeps a 30% stake and a CEO position for the next 5 years
2016 FIGURESSales €5.2 mn EBITDA EBIT €0.9 mn (18%) Net income 0.7 mn
€1.1 mn (21%)
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| A E B I T D |
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| De ia io t p rec n |
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| ho f l a S in ia t te ts r rm an c ss e |
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| € 1 0 0 0 x |
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| f d ls Inv isp tm ts, t o es en ne os a |
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Sabaf vs. FTSE Italia STAR – past 3 years
Certain information included in this document is forward looking and is subject to important risks and uncertainties that could cause actual results to differ materially.
The Company's business is in the domestic appliance industry, with special reference to the gas cooking sector, and its outlook is predominantly based on its interpretation of what it considers to be the key economic factors affecting this business. Forward-looking statements with regard to the Group's business involve a number of important factors that are subject to change, including: the many interrelated factors that affect consumer confidence and worldwide demand for durable goods; general economic conditions in the Group's markets; actions of competitors; commodity prices; interest rates and currency exchange rates; political and civil unrest; and other risks and uncertainties.
Pursuant to Article 154/2, paragraph 2 of the Italian Consolidated Finance Act (Testo Unico della Finanza), the company's Financial Reporting Officer Gianluca Beschi declares that the financial disclosure contained in this financial presentation corresponds to the company's records, books and accounting entries.
For further information, please contact Gianluca Beschi - [email protected]
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