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Cembre Investor Presentation 2021

Mar 24, 2021

4425_ip_2021-03-24_47fd7086-2e94-40f6-9157-11ba5894741b.pdf

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Investor presentation

Results of financial year 2020

CEMBRE at a glance Group management team Main product lines & applications Results of financial year 2020 Financial year 2020 guidance Stock data & shareholding structure Contact

CEMBRE | Investor relations

CONTENTS

  • 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 4.6% in the last 20 years (2001-2020), from 56 M€ in 2001 to 137.1 M€ in 2020. In the last 5 years the Group has grown by aCAGR of 2.3%(2016-2020).

  • It is a dividend payer with a 20 years average dividend payout ratio of 45,2%, and an average dividend yield of 3.7% (2000-2020). The average dividend yield in the last 5 years has been of4.3%(2016-2020).

  • In 2020, the Group invested 8,0 M€; the total amount of investments made by the company in the last five years (2016-2020) is 58,6 M€; at December 31, 2019 investments amounted to11,7 M€.

  • The product mix (a total of more than 18K end products sold during 2020) is offered to around 7K single clients around the world, with 10-biggest clients' purchases corresponding toc.18% of the consolidated turnover.

2021/02

MISSION

4

CEMBRE cooperates with the users of its products to search the best technical and economical solutions related to electrical connection applications

CEMBRE | Investor relations

  • Giovanni Rosani Chief Executive Officer (CEO)
  • Aldo Bottini Bongrani Member of the board M&A and Special Projects
  • Claudio Bornati Chief Financial Officer (CFO)
  • Felice Albertazzi Member of the board Chief Sales & Marketing Officer (CSMO)

Franco Celli

Member of the board Chief Operating Officer (COO)

The Group employs 759 employees worldwide (at December 31, 2020)

GROUP STRUCTURE

Manufacturing and trading unit

Trading unit

Manufacturing

•432

•223

Marketing, Sales & Distribution

Administration & services •83

CEMBRE has extensive knowhow 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 (120 salesmen) are significant competitive advantages for CEMBRE.

MAIN PRODUCT LINES

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

APPLICATIONS: RAILWAY

18,000 product types sold every year

2021/03

4.5 Millions electrical connectors sold by CEMBRE Group each working day

22,800 product types for immediate delivery

11

NUMBERS

MADE IN BRESCIA

CEMBRE has been established in 1969 and 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 area of 121,000 m2.

In December 2011 CEMBRE purchased a 13,500 m2 industrial area next to its plant, by investing 9,7 M€.

CEMBRE S.p.A. – Headqquarter in Brescia (Italy)

2021/03

… AND MADE IN UK

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 12% of the consolidated turnover of the financial year 2020.

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 4 subsidiaries in Europe (UK, France, Spain and Germany) and1 in the USA.

Group companies

Regional offices

Main importers

… PRESENT ALL OVER THE WORD

CEMBRE has a network of importers and agents who provide technical and commercial assistanceandrapid delivery worldwide

Electrical connectors Tools Marking SystemsCable Glands

Others

REVENUES BREAKDOWN beforecommercial rebatesby productfamily (€'000)

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GEOGRAPHICAL REVENUES BREAKDOWN

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CONSOLIDATED RESULTS OF THE FINANCIAL YEAR 2020

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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. The renewal of the agreement for tax years 2020-2024 is under evaluation, but, at the time of present document, the closing date and the result of this process is not foreseeable.

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GROUP'S COMPANIES TURNOVER* OF FINANCIAL YEAR 2020

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* net of intragroup sales

** 2019 and 2018 data include IKUMA turnover

DECEMBER, 2020 CONSOLIDATED BALANCE SHEET

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CEMBRE'S REVENUES AND PROFITABILITY TREND (€ '000)

CEMBRE'S REVENUES AND PROFITABILITY TREND (€ '000)

CEMBRE'S REVENUES AND PROFITABILITY TREND (€ '000)

CEMBRE'S REVENUES AND PROFITABILITY TREND (€ '000)

INDEX ANALYSIS

ROE (Net profit/Equity) 9.89% 8.08% 7.28% 8.13% 12.54% 15.69% 17.83% 15.19% 9.06% 13.23% 12.24% 11.28% 9.59% 11.29% 12.15% 12.30% 15.88% 14.87% 13.52% 11.60% 0.00% 4.00% 8.00% 12.00% 16.00% 20.00%

INVESTMENTS TREND

597

573

477

601

569

1.101

691

1.057

418

Investments in intangible

Total investments

assets 142

87

500

544

182

169

Implications of COVID-19 pandemic

In2020CembreGroupincurredthefollowingadditionalcosts:

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Cembre Group used for the first time in his history Government wages guarantee fund (Cassa Integrazione), but product deliveries have never been interrupted because the Group supplies railway and electrical companies

CEMBRE focused on these targets:

Business developmentthanks to:

  • A strengthening of CEMBRE competitive advantage by developing new products and continuous product range renewing by an intense R&D activity
  • Improvement of the distributor channel in foreign countries
  • An higher penetration in the foreign markets, especially in the US and Germany
  • A commercial commitment focus onhigh 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, highlyautomated machinery.

The automated warehouse, located in a 4,800 m 2 industrial building built in 2012, has been operating fromJanuary, 2013.

This automated warehouse is 3 time more efficient, and has a 50% increase in end-product capacity warehousing compared to the previous automated warehouse that has been converted to stock raw material.

2020 AND ONWARDS

In 2018, a new 9,600 m2 industrial building (two floors) started to be used, increasing the dimension of the production and parking area.

2020 AND ONWARDS

In January 2021 CEMBRE signed the convention for additional 15,000 m2 area dedicated to future expansion on the manufacturing plant. Future structures Automated warehouse

STOCK DATA & SHAREHOLDING STRUCTURE

Cembre has been listed since December 1997, and is a part of theStar Index since September

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i
S
R
a
r
a
o
s
a
n		 %
8
6
5
i
i
i
G
R
o
v
a
n
n
o
s
a
n		 %
8
5
3
i
f
i
A
M
O
n
n
a
a
r
a
n
o
r		 %
0
7
1
O
t
h
e
r
s		 2
9
2
%
7
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
4
1		 2
0
1
5		 2
0
6
1		 2
0
1
7		 2
0
8
1		 2
0
9
1		 2
0
2
0
D
iv
i
de
d
ha
(
€
)
n
p
er
s
re		 0.
1
0		 0.
0
8		 0.
0
7		 0.
1
0		 0.
1
5		 0.
2
2		 0.
2
6		 0.
1
6		 0.
1
2		 0.
2
6		 0.
1
6		 0.
1
6		 0.
2
6		 0,
3
6		 0.
4
6		 0.
7
0		 0.
8
0		 0.
9
0		 0.
9
0		 0.
9
0
io
Pa
t
Ra
t
1
y
ou		 4
4
%		 4
2
%		 4
%
1		 4
%
1		 3
9
%		 4
0
%		 3
%
7		 2
%
5		 3
0
%		 3
9
%		 2
4
%		 2
4
%		 4
2
%		 4
%
5		 4
9
%		 0
%
7		 9
%
5		 6
6
%		 6
9
%		 9
%
7
iv
i
de
d
ie
l
d
2
D
Y
n		 4.
1
%		 4.
4
%		 2.
9
%		 3.
3
%		 3.
2
%		 3.
6
%		 4.
2
%		 4.
8
%		 2.
6
%		 4.
2
%		 2.
9
%		 2.
5
%		 2.
9
%		 3.
5
%		 3.
3
%		 5.
0
%		 3.
7
%		 4.
4
%		 4.
8
%
3		 4.
8
%

1 Using consolidated profit

2 Using the year-end share price

SHARE PRICE EVOLUTION

20
01		 20
02		 20
03		 20
04		 20
05		 20
06		 20
07		 20
08		 20
09		 20
10		 20
11		 20
12		 20
13		 20
14		 20
15		 20
16		 20
17		 20
18		 20
19		 202
0
A)
ice
Sh
1
are
pr		 2,
42		 1,
90		 2,
68		 2,
99		 4,
75		 6,
12		 6,
25		 3,
30		 4,
66		 6,
25		 5,
45		 6,
34		 8,
99		 10,
21		 13,
90		 13,
90		 21
60
,		 20
25
,		 24
00
,		 18.
85
Ch
in
sha
ice
an
ge
re
pr		 -21
.5%		 41
.1%		 11.
6%		 58
.9%		 28
.8%		 2.1
%		 -47
.2%		 41
.2%		 34
.1%		 -12
.8%		 16.
3%		 41
.8%		 13.
6%		 36
.1%		 0.0
%		 55
.4%		 -6.
3%		 18.
5%		 -21
.5%
Re
ive
d
div
ide
nd
ce		 0,
10		 0,
08		 0,
07		 0,
10		 0,
15		 0,
22		 0,
26		 0,
16		 0,
12		 0,
26		 0,
16		 0,
16		 0,
26		 0,
36		 0,
46		 0,
70		 0,
80		 0,
90		 0.9
0
B)
ed
eiv
ed
Ac
cru
rec
div
ide
nd
s		 0,
10		 0,
18		 0,
25		 0,
35		 0,
50		 0,
72		 0,
98		 14
1,		 26
1,		 52
1,		 68
1,		 84
1,		 2,
10		 2,
46		 2,
92		 3,
62		 4,
42		 32
5,		 6.2
2
(
B)
Sh
tur
A+
are
re
n		 2,
42		 2,
00		 2,
86		 3,
24		 5,
10		 6,
62		 6,
97		 4,
28		 5,
80		 7,
51		 6,
97		 8,
02		 10,
83		 12,
31		 16,
36		 16,
82		 25
22
,		 24
67
,		 29
32
,		 25
.07
Pric
ta
e q
uo		 100
.0%		 95
.0%		 93
.7%		 92
.3%		 93
.1%		 92
.4%		 89
.7%		 77
.1%		 80
.3%		 83
.2%		 78
.2%		 79
.1%		 83
.0%		 82
.9%		 85
.0%		 82
.6%		 85
.6%		 82
.1%		 81
.9%		 .2%
75
Div
ide
nd
ota
qu		 0.0
%		 5.0
%		 6.3
%		 %
7.7		 6.9
%		 7.6
%		 10.
3%		 22
.9%		 19.
7%		 16.
8%		 21
.8%		 20
.9%		 0%
17.		 1%
17.		 0%
15.		 4%
17.		 14.
4%		 9%
17.		 1%
18.		 24
.8%

1 at the end of the year

in

CONTACTS

Thank you

Claudio Bornati

CFO & IR

Via Serenissima 9 • 25135 Brescia (BS) ITALY ph. +39 030 36921 [email protected] 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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