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Cembre Investor Presentation 2019

Mar 15, 2019

4425_ip_2019-03-15_72419adf-e7c1-4b19-b09b-f260cb5b72a0.pdf

Investor Presentation

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2018 Consolidated Results

Cembreat 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

2018 Results

2018 Guidance

Stock data & shareholding structure

Contact

Management team

Giovanni Rosani

Chief ExecutiveOfficer (CEO)

Aldo Bottini Bongrani

Chief Sales andMarketing Officer (CSO)

OURMISSION

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

Humanresources

TheGroup employs 729 employees worldwide.

Cembre has extensive know‐howin 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 (101 salesmen) are significant competitive advantages forCembre.

Number of employees in the segment, at December 31, 2018

BusinessOverview

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

Made inBrescia…

Cembre, established in 1969, manufactures its products in its state‐of‐ art production facility located in Brescia. The facility covers an area of 60,000 m2 on a total land areaof 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 UK which operates on a 8,800 m2 land. This plant in Birmingham manufactures mainly for the local market. The sales generated in the UK are 13% of 2018consolidated 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 technicalassistance.

Abroad, it operates through 5 subsidiaries in Europe (UK, France, Spain, 2 in Germany) and1 in the USA.

Present All Aroundthe World…

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

Revenues* breakdownby Product Family (€ '000)

Geographical Revenue Breakdown

18‐Year RevenueEvolution

AWide Product‐Mix

In order to maintain its leading position and increase the penetration of market, Cembre hadsensibly 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 industrialplant engineering),

•Improvement and update of existing products to get them easier to use and more efficient intheir performances,

•Introduction of complementary products (e.g. cable markers).

Electrical Connectors:15.9%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

16

Tools:0,1% increase 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‐B54battery 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 ofphysical endeavour

Railway Products: 6.2%increase in Sales

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Characteristics:

•high quality products

•constant R&Dactivities

•high potential growth

Development of new products:

•NutRunner ‐ NR‐11P

•Battery drill

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

Cable Markers: 13.0%increase in Sales

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‐

With the introduction of these newproducts 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 toenter the European markets

•entereda 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: 10.5%increase in Sales

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7

2018 ConsolidatedResults

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*Tax rate is influenced by benefit from the application of Patent Box regime (tax rate without benefit: 2017 29.2%; 2018 26.2%)

2018Group's Companies Turnover*

C
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* net of intragroup sales

** company acquired in May 2018

*** company liquidated in December 2016

December31, 2018 Consolidated Balance Sheet

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Cembre's Revenue andProfitability Trend (€ '000)

Cembre's Revenue andProfitability Trend (€ '000)

Indexanalysis

Investmentstrend

'0
€
0
0		 2
0
0
5		 2
0
0
6		 2
0
0
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0
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3
7
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8
3
3
1		 8,
6
6
1
4

2018 andonwards…

Cembre focused on these targets:

Increase of turnover thanksto:

•A strengthening of Cembre competitive advantage by developing new products and continuous product range renewing by an intense R&D activity,

  • •A newproduct line for plumbing sector;
  • •Anhigher penetration in the foreign markets, especially in the US,
  • •Acommercial commitment focus on high growing potential products.

Cost management by a better operative efficiency obtained from economies of scale andprocess innovations;

Enforcing the manufacturing structure by investing in high‐tech, highly‐automated machinery.

2018 andonwards…

The automated warehouse, located in a 4,800 m2 industrial building built in 2012, has been operating from January, 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 dimension of the new logistic center of the company and production areas.

2018 andonwards…

•On May 3rd, 2018 wholly‐owned German subsidiary Cembre GmbH acquired the entire capital stock of German company 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 German distributors and is one of the main domestic suppliers of cable terminals. At December 31, 2018, the company had 18 employees, while turnover for the year amounted to €8.5 million (May‐December turnover €5.2 million). Its product range is very similar to Cembre's.

Stock Data &Shareholding Structure

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

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4

1

Using consolidated profit 2 Using the year‐end share price 3Proposed to Shareholders' Meeting

Shareprice 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, Claudio Bornati, declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance, that the accounting information contained in this presentation corresponds to the document results, books and accounting records.

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