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Cembre Interim / Quarterly Report 2016

Nov 17, 2016

4425_cp_2016-11-17_de978de0-9272-45ab-a00c-a5b704177bac.pdf

Interim / Quarterly Report

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Results of the first 9 months of 2016

Cembre at a Glance

Cembre is Europe's leading manufacturer of electrical crimp type connectors and relatedinstallation 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 Group invested €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 around8k single clients around the world, with 10-biggest clients' purchases corresponding to c.16% of the consolidated turnover.

Contents

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

Management team

Giovanni Rosani

Chief Executive Officer (CEO)

Aldo Bottini Bongrani

Sales and Marketing Director

OUR MISSION

Cembre cooperates with the users of its products to find the best technical and economical solutions related to electrical connection applications.

Claudio Bornati

Chief Financial Officer (CFO)

Group Structure

Production and commercial units

Commercial units

Number of employees at September 30, 2016

Business Overview

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

Made in Brescia…

Cembre, established in 1969, manufactures its products in its state-ofart production facility located in Brescia. The facility covers an area of 51,000 m2 on a total land area of 121,000 m2.

… and U.K.

In addition, Cembre has a production facility in the UKwhich operates on a 8,800m2 land. This plant inBirmingham manufactures mainly for the local market. The sales generated in the UK are 16% of the consolidated turnover of the first nine months of 2016.

Cembre Ltd.Factory in Curdworth Birmingham (UK)

An Integrated Business Partner…

The Group employs 677 employees worldwide.

Cembre has extensive know-how in its operating field, and its strong R&D team allows it to respond quickly to market demands.

Sharp focus on customer needs and the efficient international sales network (100 salesmen) are significant competitive advantages for Cembre.

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

Very 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…

Revenues* breakdown by Product Family (€ '000)

Geographical Revenue Breakdown

15-Year Revenue Evolution

A Wide Product-Mix

In 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).

Electrical Connectors: 2.2% decrease in Sales

l
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2.
8

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

Tools: 1.9% decrease in Sales

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%
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-

Characteristics:

•quick installation of connectors thanks to tools used for compressing and cutting the conductors

•wide products range: mechanical, pneumatic, hydraulic and battery operated tools

Development 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

Railway Products: 1.3% decrease in Sales

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%
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(
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0
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%
5.
5.
m
n		 2.
9
%

Characteristics:

•high quality products

•constant R&D activities

•high potential growth

Development of new products:

•Nut Runner - NR-11P

•Battery drill

Both the products are very competitive on the market since they offer superior flexibility, lightness and velocity against alternative products

Cable Markers: 13.3% increase in Sales

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m
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1
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m
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)
%
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m
n		 %
3
2.
9

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 structure

Development and production, in Brescia (Italy), of thermal printer MG3

Cable Glands: 3.2% increase in Sales

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m
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m
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1
%

Consolidated Results of first nine months of 2016

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9

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

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4

* net of intragroup sales

September 30, 2016 Consolidated Balance Sheet

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2

Cembre's Revenue and Profitability Trend (€ '000)

3.8063.213 2.9883.8306.6059.32711.89610.8576.88711.340 11.40011.50710.50313.54215.9336,8% 5,6% 5,0% 5,9% 9,4%11,1%12,7%11,5%9,1%12,1% 11,1% 11,1% 10,0% 12,0% 13,1%02.0004.0006.0008.00010.00012.00014.00016.0002001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Index analysis

Investments trend

Investments in intangible assets

Total investments

€
'00
0		 2
0
0
1		 2
0
0
2		 2
0
0
3		 2
0
0
4		 2
0
0
5		 2
0
0
6		 2
0
0
7		 2
0
0
8		 2
0
0
9		 2
0
0
1		 2
0
1
1		 2
0
2
1		 2
0
3
1		 2
0
1
4		 2
0
1
5
b
le
Inv
in
i
tm
ts
ta
ts
es
en
ng
as
se		 3,
1
2
1		 8,
8
5
8		 3,
6
8
7		 3,
0
9
2		 1,
9
1
0		 5,
3
5
3		 6,
4
0
4		 4,
0
6
4		 4,
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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 m2 industrial area next to its plant (dec – 2011), by investing €9.7 mn (Brescia plant and offices today cover a floor-space of 51,000 m2 while the total plant area reached 121,000 m2), this area will be dedicated to production enforcement.

2016 and onwards…

•The construction of a new 4,800 m2 industrial building which is the new logistic center. This center include anautomated warehouse with 16-metre-high shelves. The construction started in March 2012, and the newautomatic warehouse is operative since January 2013. This warehouse is 3 time more efficient, and has a 50%increase in end-product capacity warehousing.

Stock Data & Shareholding Structure

h
h
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Cembre has been listed since December 1997, and is a part of the Star Index since September 2001.

2
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*
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1

* Using consolidated profit ** Using the year-end share price

Contact

Claudio Bornati:CFO and IRVia Serenissima 9, 25135 Brescia (BS) Italy

Phone: ++39 030 36921Email: [email protected]Company Webpage: www.cembre.com

The manager responsible for preparing the Company's financial reports, ClaudioBornati, declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Lawon Finance, that the accounting information contained in this presentationcorresponds to the document results, books and accounting records.

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