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Cembre Investor Presentation 2019

Jun 4, 2019

4425_ip_2019-06-04_394b2774-8332-41d6-bd9a-979bfb8c38d8.pdf

Investor Presentation

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1st Quarter 2019 Results

Cembre at a Glance

Cembre 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 18 years (2001-2018), from €56 mn in 2001 to €144.1 mn in 2018;

It is a dividend-payer with a 18 years average dividend payout ratio of 49.0%, and an average dividend yield of 3.6%(2001-2018);

In 2018, the Group invested €18.5 mn; the total amount of investments made by the company in the last five years (2014-2018) is €55.3 mn; at December 31, 2017 investments amounted to€12.8 mn;

The product mix (a total of more than 15k end products sold during 2018) is offered to around 8k single clients around the world, with 10-biggest clients' purchases corresponding to c.19% of the consolidated turnover.

Contents

Management Team

Business overview

1st Quarter 2019 Results

1st Quarter 2019 Guidance

Stock data & shareholding structure

Contact

Management team

Giovanni Rosani

Chief Executive Officer (CEO)

Aldo Bottini Bongrani

Chief Sales and Marketing Officer (CSO)

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

Human resources

The Group employs 734 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 (117 salesmen) are significant competitive advantages for Cembre.

Number of employees in the segment, at March 31, 2019

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 60,000 m2 on a total land area of 121,000 m2.

In December 2011 Cembre purchased a 13,500 m2 industrial area next to its plant, by investing €9.7 mn.

… 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 15% of 1st Quarter 2019 consolidated turnover.

Cembre Ltd.Factory in Curdworth Birmingham (UK)

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, 2 in Germany) 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

18-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: 28.3% increase in Sales

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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: 1.2% decrease in Sales

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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: 12.2% decrease in Sales

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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: 10.5% increase in Sales

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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: 13.7% increase in Sales

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1st Quarter 2019 Consolidated Results

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Patent Box Fiscal Benefit

The Parent Company Cembre S.p.A. in December 2017 signed, with the support of Business Tax and Consulting firm Deloitte, an agreement with the Italian Revenue Office defining the calculation methods and criteria for the economic contribution to business revenue of intangible assets in the context of the «Patent Box» scheme, for tax years 2015-2019.

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1st Quarter 2019 Group's Companies Turnover*

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* net of intragroup sales

** company acquired in May 2018

March 31, 2019 Consolidated Balance Sheet

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

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

Index analysis

Investments trend

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6

2019 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,

  • •A new product line for plumbing sector;
  • •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.

2019 and onwards…

The automated warehouse, located in a 4,800 m2 industrial building built in 2012, has been operating fromJanuary, 2013. This warehouse is 3 time more efficient, and has a 50% increase in end-product capacity warehousing. In 2018, a new 9,600 m2 industrial building (two floors) started to be used, increasing the dimensionof the new logistic center of the company and production areas.

2019 and onwards…

•On May 3rd, 2018 wholly-owned German subsidiary Cembre GmbH acquired the entire capital stock of Germancompany Ikuma GmbH & Co. KG ("Ikuma KG"). Cembre GmbH also acquired the entire capital stock of Ikuma Verwaltungs GmbH, a company whose only activity is to manage and provide strategic advice to Ikuma KG.

Ikuma KG is active on the German market in the electrical equipment sector supplying a number of Germandistributors and is one of the main domestic suppliers of cable terminals. At March 31, 2019, the company had 21employees, while turnover for the period amounted to €2.2 million. Its product range is very similar to Cembre's.

Stock Data & Shareholding Structure

1

Using consolidated profit 2 Using the year-end share price

32

Share price evolution

Contact

Claudio BornatiCFO 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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