COSTAMP GROUP INVESTOR PRESENTATION€¦ · Presentazione standard di PowerPoint Author: Alberto...
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1968 │ 2018 COSTAMP GROUP INVESTOR PRESENTATION 1968 │ 2019 COSTAMP GROUP INVESTOR PRESENTATION
Transcript of COSTAMP GROUP INVESTOR PRESENTATION€¦ · Presentazione standard di PowerPoint Author: Alberto...
1968 │ 2018
COSTAMP GROUP INVESTOR PRESENTATION
1968 │ 2019
COSTAMP GROUP INVESTOR PRESENTATION
HPDC DIES
(70% 2018 revenues)
AlloyAluminum
Magnesium
Market Automotive (95% of 2018 revenues) / lighting / heating / industrial appliances
Main
applicationStructural parts
Powertrain components
Machines
Used by customers
LPDC & GRAVITY DIES
(20% 2018 revenues)
PLASTIC DIES
(10% 2018 revenues)
Plastic
Business Units
Aluminum
Cast iron
Powertrain
Structural parts
Bumpers
Door Panels
Costamp Group is a leading company in the engineering,
production and trade of dies for HPDC / LPDC and gravity casting
Business Unit
Injection machines from 160 tons
up to 3000 tons
HPDC machines from 500 tons up
to 4500 tonsPouring machines
Foundation
Purchase of the first CNC machines
1968
1982
1994
1999
2003
2004
2011
2013
2016
2014
2015
2017
First automotive mold – Steering Housing
Transfer to the new buildings of Sirone (LC)
First press installation, for the sampling department
Acquisition of 49% of PAMA Srl
Certifications ISO/TS 16949
Opening and launch of the new plant in Rivalta
(TO), for plastic injection molds.
New expansion of the Sirone plant: roughing & drilling
Launch of the new dedicated warehouse for finished parts
Acquisition of PiQ2, which develops simulation
softwares.
Horizon 2020 Award and Reverse Takeover
with Modelleria Brambilla
2018Takeover bid, Accelerated Bookbuilding,
Environmental certification 14001 and 18001
Milestones
2019Acquisition of the remaining 41%
of Modelleria ARA
After sales support:Auburn Hills, MI
U.S.A.
After sales support:Queretaro
Mexico
Sales officeKomaki City
Japan
International Presence
Sales office:Sao Paolo
Brasil
Sales officeShanghai
China
Production and Sales Office:Mumbai (India): Sales OfficeBhiwadi (India): Production and Sales Office
Sales officeSeo-gu IncheonSouth Korea
Production Plants
65%
17%
5%
4%
3%
3%
3%
Production
Design
Quality
Logistics
Administration
Purchase
Sales
Personnel #
Sirone HQ 196
Turin facility 30
Pama 21
PiQ2 5
Correggio + ARA 70
Total 322
Human resources and facility dimensions
Sq. m Shop floor Offices
Sirone HQ 11.400 1.830
Correggio 4.500 800
Turin facility 2.100 450
Total 18.000 3.080
Costamp Group – Total Revenues over the years (in k €)
8.500
11.80012.50010.400
14.700
17.200
14.800
17.700
25.800
21.800
31.900
36.700
40.615
*58.700
10.000
20.000
30.000
40.000
50.000
60.000
CAGR ’10-’18: +16,0%*2016, 2017 and 2018 data are pro-forma
consolidated
*58.964
0
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
*58.038
Main Customers
58% of revenues is generated by the first 10 Clients, in line with market concentration
High level of Client loyalty
High Pressure Die Casting (HPDC): Our Core Business
Products
High Pressure Die Casting (HPDC): Applications Powertrain
Cylinder Head CoverFlange Housing
Gearbox Housing
Clutch Housing
Engine Blocks
Steering Housing
High Pressure Die Casting (HPDC): Applications_Structural Parts
Shock Towers
Front Crossbeam
Crossmember
Instrument Panels
Window Frames
High Pressure Die Casting (HPDC): Trucks
Cover Cooling Duct
TransmissionHousing
Ladderframe
Flywheel Housing
Oil Pan
Value Chain
TURN-KEY SERVICE
A) PROJECT
MANAGEMENTB) DESIGN
D) TRY-OUTS/SMALL
PRODUCTIONSC) HPDC/LPDC DIES
1. Equipment
manufacturing;
2. Consultancy service
from A to Z.
1. Part co-design;
2. Die design;
3. Simulation work (PIQ2).
1. Complete dies;
2. Complete sets of casting
inserts;
3. Maintenance &
Refurbishment.
1. Samplings: Costamp
Group is equipped with
an internal foundry
department in the Sirone
plant;
2. Dimensional and
metallurgical controls;
3. Complete set-up
process;
4. Process development;
5. Production of small
batches & special series;
6. Post-sales
service/support.
Low Pressure Die Casting (LPDC) / Gravity: products and applications
Products
Applications
Cylinder Head
Cover
Engine Blocks
( Various
configurations )
Gearbox
HousingExhaust
Manifold
Case History
Lamborghini Huracan – Rear Grille
Case History
BMW _ C-Evolution electric scooter
Research & Development
« PUZZLE DIE » CONFIGURATIONA ground-breaking new tooling layout which enablesextraordinary extension of die lifetime thanks to efficientthermal-mechanical stress dissipation. It also allows a drasticreduction of production cycle time and die maintenance,thus resulting in remarkable overall cost-optimization.
CAVITY INSERT FAST CHANGE CONFIGURATION
Innovative tooling design including mechanical features
which will allow the replacement of damaged /exhausted cavities from the die holder, without removing
the die from the HPDC machine. This means hugedowntime reduction and fast resuming of seriesproduction.
LOW PRESSURE FORGING TECHNOLOGY
A unique combination of the best features of LPDC and HPDC.
Costamp is currently executing in-house production tests thanksto an expressly installed vertical press. Once it has beenoptimized and consolidated, this technology will be especiallysuitable for the manufacturing of Aluminum car / truck wheels,
thus opening new possibilities in a potentially huge market.
«It is not the strongest of the species that survives. Nor the most intelligent that survives. It is the one which is the most adaptable to change»
Research & Development
NEW AREA DEDICATED TO FOUNDRY: LOW PRESSURE AND LOW
PRESSURE FORGINGNew investments have been approved to transform the currentwarehouse, in Sirone plant, into a new area dedicated to foundry.In fact, n.2 machines have been purchased: one for low pressureprocess and the other one for low pressure – forging technology,aiming to sample all of our tolls built at Correggio plant and alsorun production of small and medium batches.
OTHER R&D PROJECTS CANNOT BE UNVEILED DUE TONDA AGREEMENTS….
Costamp has been awarded the Horizon 2020 from the European
Commission for the « Puzzle Die » project.
Objective
Thanks to the cooperation with FEM/CFD simulation software suppliers,
Costamp has been able to develop a new design and construction
technique allowing the manufacturing of special HPDC dies, the so called
«Puzzle Die», whose lifespan is at least the double than standard-designed
ones.
The need to get FEM results in a much shorter time, pushed Costamp idea to
start with the development of a brand new simulation software based on an
“easy-to-use” configuration, aiming at having a disruptive impact on the
HPDC market.
HORIZON 2020 – Puzzle Die
PUZZLE DIE: Official Endorsement By Premium OEM
For The Horizon 2020 Funding Program
BMW AG Daimler AG Jaguar Land Rover
Regulations in Europe force OEMs
to significantly reduce CO2 emissions
In 2025 penalties of € 12,350 per car if
the car sold overcomes the average of
75 gr CO2 emissions per km
Source: McKinsey
ALUMINUM: best balance between
weight reduction vs steel (-40%) and
additional cost involved (+30%)
Source: McKinsey + ITF
ALUMINUM is the material of choice to boost fuel economy and cut
total carbon emissions. Most innovative vehicles rely on ALUMINUM
Key financials and statistics
58.964 58.039
28.711
4.5841.562
2.942361
-1.681
610
12.620
23.036 23.64117.557
21.758
28.641
7,77%
2,69%
10,25%
0,00%
2,00%
4,00%
6,00%
8,00%
10,00%
12,00%
-10.000
0
10.000
20.000
30.000
40.000
50.000
60.000
70.000
31/12/2017* 31/12/2018* 30/06/2019
Total Revenues EBITDA Net Income BV Equity NFP % EBITDA
Trade agreements breakdown (GIFA)
Order Backlog
*Pro-forma data; data in €/000
06/2018 06/2019
€46,0m€54,8m 53%
36%
8%
3%
Italy Europe North America Asia
Revenues breakdown (2018)
Historical financials
Growth
19,13%
During the GIFA trade fair, Costamp managed to sign trade
agreements for a total of € 26,6 million significantly boosting its
orders backlog, below the breakdown by client and product
Data in € M
€40,0m
06/2017
Growth
15%
Income Statement
data in €/000 31/12/2017* 31/12/2018* 30/06/2019
Sales 57.957 55.624 27.691
Other revenues 1.008 2.415 1.020
Total Revenues 58.964 58.039 28.711
% Revenues growth YoY -1,57%
COGS 38.279 39.652 -17.190
Other operating Costs 862 651 -302
Gross Margin 19.823 17.736 11.219
Personnel Costs 15.239 16.174 -8.277
EBITDA 4.584 1.562 2.942
% EBITDA Margin 7,77% 2,69% 10,25%
D&A 2.914 3.223 1.739
EBIT 1.670 -1.661 1.203
Net interest position 1.092 715 405
Writedowns of financial assets 40 4 0
EBT 618 -2.373 798
Taxes -257 692 -187
Net income 361 -1.681 610
Financial Statements
Balance Sheet
data in €/000 31/12/2017 31/12/2018 30/06/2019
Intangible fixed assets 712 9.173 9.409
Tangible fixed assets 29.021 37.397 39.667
Property investments 0 2.252 2.224
Financial fixed assets 497 493 497
A) Total fixed assets 30.230 49.315 51.796
Inventory 14.482 13.245 15.158
Trade receivables 8.899 7.900 11.429
Trade receivables twds others 2.167 3.386 3.750
Other trade receivables 374 426 84
Trade payables -18.224 -14.914 -14.598
Other payables -3.929 -8.384 -9.650
Tax payables -3.096 -4.642 -4.439
B) Total capital invested 672 -2.983 1.734
C) Net invested capital (A+B) 30.902 46.332 53.531
D) Pension Liabilities -725 -1.538 -1.249
E) Net capital requirements (C+D) 30.176 44.794 52.282
F) Shareholders’ capital -12.620 -23.036 -23.641
Share capital -10 -2.130 -2.130
Reserves -12.066 -22.528 -20.900
Net income reserves 0 -57 0
Net income of the year -544 1.680 -610
G) Net financial position -17.557 -21.758 -28.641
Long term financial debts -10.866 -16.023 -19.695
Short term financial debts -12.034 -12.890 -18.431
Cash and cash equivalents 5.344 7.155 9.485
H) Capital employed (F+G) -30.176 -44.794 -52.282
Growth Strategy
Development of cross-selling on low pressure, coming from Modelleria Brambilla,exploiting Costamp network and the strong demand for high performance aluminumcomponents in the electric market.
New organization of the group workflow through “make or buy” concept, in order todevelop a higher turnover, focusing only on the most critical processes and outsourcingprocesses with lower added value.
Creation of a new premium line on HPDC, thanks to the proprietary Puzzle Dietechnology.
Development of partnerships with OEM and Tier 1 on specific innovative projects: low-pression forging, forged safety parts, aluminum wheel rims in mass production,aluminum chassis, structural parts in magnesium, each as a unique partner of aninternational leading Tier 1.
International expansion through a “glocal” approach with a direct and well establishedpresence in the countries where OEM and Tier 1 operate: Germany, USA, Mexico(today's market), China and India (tomorrow's market).
COSTAMP GROUPVia Verdi, 6 - 23844 Sirone (LC)
T +39 031 875195
CONTACTS
IR TOP CONSULTING
Equity Research & Investor RelationsMaria Antonietta Pireddu
Via C. Cantù, 1 - 20123 Milano
T +39 02 45473883/4
INVEST ITALY SIM
Corporate BrokerVia San Clemente, 1 – 20122 Milano (MI)
T +39 02 84924277
BANCA INTERMOBILIARE DI INVESTIMENTI E GESTIONINomAd
Via Meravigli, 4 - 20123 Milano (MI)
T +39 02 99968111
INVEST BANCA
SpecialistVia Luigi Cherubini, 99 – 50053 Empoli (FI)
T +39 05 715331301
THANK YOU
