FIRST QUARTER 2016 May 12 th , 2016 31.03.2016 2 Main Features - - PowerPoint PPT Presentation

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FIRST QUARTER 2016 May 12 th , 2016 31.03.2016 2 Main Features - - PowerPoint PPT Presentation

Dec 29, 2023 259 likes •409 views

FIRST QUARTER 2016 May 12 th , 2016 31.03.2016 2 Main Features TURNOVER at 33,7 M (-0,8%, in line with lift truck market) NET DEBT at 29,5 M, - 7,0 M in twelve months. 3 RECENT MARKET TREND 4 World market trend 200.000

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FIRST QUARTER 2016

May 12th, 2016

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31.03.2016

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Main Features

TURNOVER at € 33,7 M (-0,8%, in line with lift truck market) NET DEBT at € 29,5 M, -€ 7,0 M in twelve months.

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RECENT MARKET TREND

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World market trend

156.992 168.541 174.931 157.952 164.295 164.055 170.901 144.068 151.109 162.393

  • 40.000

80.000 120.000 160.000 200.000 Avg Q 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016

Avg Q 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q1 2016 vs Q1 2015 EUROPE 33.213 34.001 33.781 31.044 34.024 36.005 34.067 30.948 37.233 38.306 6,4% Of which West Europe 23.792 28.101 26.736 24.137 28.032 30.765 28.937 25.242 31.312 32.854 6,8% USA e CANADA 28.165 28.692 28.218 26.822 37.156 30.091 30.545 28.944 34.629 28.975

  • 3,7%

ASIA 82.168 91.782 97.502 85.483 78.555 84.566 93.049 71.726 67.731 83.531

  • 1,2%

REST OF THE WORLD 13.447 14.066 15.430 14.603 14.560 13.393 13.240 12.450 11.516 11.581

  • 13,5%

WORLD 156.992 168.541 174.931 157.952 164.295 164.055 170.901 144.068 151.109 162.393

  • 1,0%
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West European and North American market trend

28.165 28.692 28.218 26.822 37.156 30.091 30.545 28.944 34.629 28.975 23.792 28.101 26.736 24.137 28.032 30.765 28.937 25.242 31.312 32.854 5.000 10.000 15.000 20.000 25.000 30.000 35.000 40.000 Avg Q 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 USA and CANADA West Europe Avg Q 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q1 2016 vs Q1 2015 EUROPE 33.213 34.001 33.781 31.044 34.024 36.005 34.067 30.948 37.233 38.306 6,4% Of which West Europe 23.792 28.101 26.736 24.137 28.032 30.765 28.937 25.242 31.312 32.854 6,8% USA and CANADA 28.165 28.692 28.218 26.822 37.156 30.091 30.545 28.944 34.629 28.975

  • 3,7%

ASIA 82.168 91.782 97.502 85.483 78.555 84.566 93.049 71.726 67.731 83.531

  • 1,2%

REST OF THE WORLD 13.447 14.066 15.430 14.603 14.560 13.393 13.240 12.450 11.516 11.581

  • 13,5%

WORLD 156.992 168.541 174.931 157.952 164.295 164.055 170.901 144.068 151.109 162.393

  • 1,0%
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FINANCIALS - 31.03.2016

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Q1 2015 Q1 2016 24,4 24,4 5,1 5,2 4,5 4,2 EUROPE NORTH AMERICA REST OF THE WORLD

Net sales breakdown: 1Q 2015 vs 1Q 2016

  • 0,8%
  • 5,9%

+0,7%

  • 0,2%

33,7 34,0

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Consolidated income statement in 1Q 2016

EBITDA stands at 8,0% and it includes non current costs for Hyster- Yale operation. NET RESULT has been affected by a negative effect on exchange rates for € 0,6 M (last year positive for € 1,3 M).

Thousands of Euro Q1 2015 1Q 2016 % Var. 2015 vs 2014 TURNOVER 34.016 33.743

  • 0,8%

EBITDA 3.418 2.703

  • 20,9%

EBITDA margin % 10,0% 8,0% EBIT 1.850 1.135

  • 38,6%

EBIT margin % 5,4% 3,4% RESULT BEFORE TAXES 2.801 251

  • 91,0%

margin % 8,2% 0,7% GROUP RESULT AFTER TAXES 2.248 196

  • 91,3%

margin % 6,6% 0,6%

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Consolidated cash flow statement

(*) of which € 0,5 M of exchange rate effect

NET DEBT 01.01.2016 (29.134) Net result 240 Changes in reserves and associated companies (593) Depreciation 1.457 Changes in net working capital (451)

  • Inventories

(493)

  • Trade receivables

(884)

  • Trade payables

56

  • Others

870 Net capital expenditure (*) (341) FREE CASH FLOW 312 Equity and third parties changes (**) (664) Dividend distribution NET DEBT 31.03.2016 (29.486)

29.134 29.486 451 341 664 1.104 Net debt Dec 15 Operating cash flow Change in net working capital Capex Equity and minorities changes Net debt March 16

Net Result 240 Reserve

  • 593

Depreciation 1.457

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Net debt: Short and long term

Net financial position has been decreased by Euro 7,0 in twelve months. Thousands of Euro 31.03.2015 31.12.2015 31.03.2016 Cash and cash equivalent 6.292 9.080 7.137 Current portion of long term debts (23.808) (15.706) (15.425) Net financial position - short term (17.516) (6.626) (8.288) Non current portion of long term debts (19.013) (22.508) (21.198) Net financial position - M/L term (19.013) (22.508) (21.198) Net financial position (36.529) (29.134) (29.486)

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Working capital and other KPI

26,1 26,7 18,4 18,1 21,1 24,5 24,3 27,7 30,2 26,4 26,8 2007 2008 2009 2010 2011 2012 2013 2014 31.03.2015 2015 31.03.2016

Accounts payable turnover ratio at 31.03.2016: 85 days vs 82 days at 31.12.2015 Accounts receivables turnover ratio at 31.03.2016 : 77 days vs 71 days at 31.12.2015 Inventory turnover ratio at 31.03.2016 : 68 days vs 66 days at 31.12.2015

Million € % on net sales

17,90% 18,90% 24,00% 19,30% 18,20% 20,61% 20,10% 23,06% 21,87% 19,07% 19,81%

2007 2008 2009 2010 2011 2012 2013 2014 31.03.2015 2015 31.03.2016

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Assets and liabilities

Thousands of Euro 31.12.2015 31.03.2016 Net fixed assets 51.799 51.063 Net working capital 26.358 26.808 Leaving indemnity and other reserves (4.814) (4.631) Net capital employed 73.343 73.240 Net Equity 40.943 40.554 Minority interest 3.266 3.200 Net financial position 29.134 29.486 Net Debt / Equity 0,66 0,67

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Contacts:

ir@bolzonigroup.com +39 0523 555511

Visit our web site: www.bolzonigroup.com