COSTAMP GROUP INVESTOR PRESENTATION MILANO, 24 MAGGIO 2018 1968 │ 2018 COSTAMP GROUP INVESTOR PRESENTATION
CO.STAMP – MODELLERIA BRAMBILLA MAIN STEPS OF THE REVERSE TAKEOVER MATTEO PONTELLO Gruppo INVEST BANCA SpA – Corporate Finance 2 COSTAMP GROUP INVESTOR PRESENTATION
MAIN STEPS OF THE REVERSE TAKEOVER Modelleria Brambilla S.p.A. and Co.Stamp S.r.l. signed a non-binding Letter of Intent (LOI) containing the May 31 st 2017 intentions to reach an Agreement that could lead to the integration of the two companies. July 28 th 2017 Modelleria Brambilla signed the Investment Agreement which concerns its combination with Co.Stamp S.r.l. The investment agreement foresees that the deal takes place through a capital injection by Modelleria Brambilla up to a maximum of Euro 62,621,100 inclusive of price premium, through the issuance of a maximum number of shares of n. 38,655,000 which will be fully underwritten by Co.Stamp via a provision of the total amount of the shares of a newly established company (i.e. Co.Stamp Tools S.r.l.), which will consist of the whole Co. Stamp’s existing operating activity. As an effect of the capital increase, Co.Stamp will acquire the 90.9757% of the Issuer’s equity. Feb 21 st 2018 Execution of the capital injection by Modelleria Brambilla up to a maximum of Euro 62,621,100 inclusive of price premium, through the issuance of a maximum number of shares of n. 38,655,000 which will be fully underwritten by Co.Stamp via a provision of the total amount of the shares of Co.Stamp Tools S.r.l. (newly established company 100% by Co.Stamp S.r.l. which consists of the whole Co. Stamp’s existing operating activity). Feb 21 st 2018 The execution of the capital injection resulted in the obligation to promote a tender offer at Euro 3.00 per share, in order to purchase all of the shareholders’ shares of Modelleria Brambilla. Next steps Capital increase of a maximum of Euro 4,999,000 between the conclusion of the tender offer and Aug 30 th 2018, already approved on Dec 14 th 2017 and sale of shares by major shareholder Co.Stamp Srl, in order to achieve a minimum of 10% of floating capital. Both actions aim at increasing the free float and fostering investments. 3 COSTAMP GROUP INVESTOR PRESENTATION
COSTAMP GROUP BUSINESS MODEL, FINANCIALS AND STRATEGIC GUIDELINES MARCO CORTI CHAIRMAN & CEO GABRIELE BONFIGLIOLI HEAD OF “LPDC & GRAVITY” MICHELE TOMBINI CHIEF COMMERCIAL OFFICER 4 COSTAMP GROUP INVESTOR PRESENTATION
Business Units Costamp Group is the global leader in the engineering, production and trade of dies for die casting LPDC & GRAVITY DIES PLASTIC DIES HPDC DIES Business Unit (46% 2016 revenues) (36% 2016 revenues) (18% 2016 revenues) Aluminum Aluminum Alloy Plastic Cast iron Magnesium Automotive (95% of 2016 revenues) / lighting / heating/ industrial appliances Market Main Structural parts Powertrain Bumpers application Powertrain Structural parts Door Panels Machines HPDC machines from 500 tons up Pouring machines Injection machines from 160 tons Used by to 4500 tons up to 3000 tons customers 5 COSTAMP GROUP INVESTOR PRESENTATION
International Presence Sales Office: Aichi – ken (Japan) • Sales Office: Shanghai (China) • Production and Sales Office: Mumbai (India): Sales Office • Bhiwadi (India): Production and Sales Office • Sales Office: Sales Office: Sao Paulo (Brazil) • Teheran (Iran) • After Sales Support: Queretaro (Mexico) • After Sales Support: Auburn Hills (USA) • Personnel # EMPLOYEES BREAKDOWN BY COMPETENCES Sirone HQ 176 Production 17% Turin facility 32 Design Quality Pama 21 5% Logistics PiQ 2 5 Administration 4% 65% Purchase Correggio 63 3% Sales 3% San Giovanni in Persiceto 14 3% Total 311 6 COSTAMP GROUP INVESTOR PRESENTATION
Costamp Group Milestones 1968 Foundation 1982 Purchase of first CNC milling machines 1988 Mr. Marco Corti joins the Company Management 1994 First automotive die – Steering Housing 1999 Move to the new premises in Sirone (LC) Purchase and installation of the 1 st HPDC press, for our internal sampling department 2003 2004 Acquisition of 49% of the shares of PAMA Srl 2008 First structural part HPDC die - Shock Tower 2011 ISO/TS 16949 Certification 2013 Opening and start up of new plant in Rivalta (TO), for plastic injection molds 2014 New expansion of Sirone plant: rough cutting & drilling facility 2015 Launch of new dedicated warehouse for finished castings 2016 Takeover of PiQ2, company that develops simulation software 2017 Horizon 2020Award 2018 Reverse takeover with Modelleria Brambilla, founded in 1951 and listed on AIM Italia. ISO 14001 Environmental Certification and OHSAS 18001 Safety And Health Certification. 7 COSTAMP GROUP INVESTOR PRESENTATION
Governance BOARD OF DIRECTORS Marco Corti Chairman & CEO Aldo Alessandro Corti Director Carlo Corti Director Davide Corti Director Cesare Carbonchi Director Gabriele Bonfiglioli Director Giacomo Maria Molteni Director GROUP STRUCTURE SHAREHOLDERS LPDC 0,17% 2,05% COSTAMP GROUP SPA* HPDC and Plastics 100% 51% 50% Co.Stamp S.r.l. Own Share 49% 72.6% Other shareholders* 97,78% Die holders Software * of which 0.165% owned by Gabriele Bonfiglioli (Director) 8 COSTAMP GROUP INVESTOR PRESENTATION
Costamp Group – Total Revenues over the years (in k €) 60.000 *58.700 CAGR ’10 - ’16: +22% *2016 data are pro-forma consolidated 50.000 40.615 40.000 36.700 31.900 30.000 25.800 21.800 20.000 17.700 17.200 14.800 14.700 11.80012.500 10.400 8.500 10.000 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 9 COSTAMP GROUP INVESTOR PRESENTATION
Main competitors in EU die-casting mould manufacturers 2012 2016 Aluminum large dies Manufacturers Country Turnover Turnover % ∆ ( €M ) ( €M ) EXCO Technologies Ltd. (2) CAN 116 126 9% Costamp Group SpA (1) IT 23 59 157% Meco Eckel GmbH (3) D 66 49 -26% Schaufler D 21 48 129% Aurrenak E 24 26 8% Heck & Becker GmbH (4) D 22 25* 14% Delaware Dynamics (4) USA 15 20* 33% SAPP Spa IT 13 19 46% Vetimec Soc. Coop. IT 14 19 36% SCS Rodegari IT 7 10 43% SCM Zanussi Srl IT 10 9 -10% CO.ME.ST. Srl IT 3 6 100% (1) Pro-forma consolidated 2016 (2) Casting and Extrusion Division only (3) LPDC sold in 2016 (4) 2015 10 COSTAMP GROUP INVESTOR PRESENTATION
Value Chain T URN - KEY S ERVICE A) P ROJECT D) T RY - OUTS /S MALL B) D ESIGN C) HPDC/LPDC D IES M ANAGEMENT P RODUCTIONS 1. Equipment 1. Part co-design; 1. Complete dies; 1. Samplings : Costamp manufacturing; 2. Die design; 2. Complete sets of casting Group is equipped with 2. Consultancy service 3. Simulation work (PIQ 2 ). inserts; an internal foundry from A to Z. 3. Maintenance & department in the Sirone Refurbishment. 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. 11 COSTAMP GROUP INVESTOR PRESENTATION
High Pressure Die Casting (HPDC): products Rear Grill – Aesthetic part Magnesium – FEC Magnesium – Instrument panel Door frame Structural part – Tailgate Structural part – Shock tower Battery Housing Powertrain die – Gearbox Housing Third plate & 4 slides – Camshaft Housing 12 COSTAMP GROUP INVESTOR PRESENTATION
High Pressure Die Casting (HPDC): applications STRUCTURAL PARTS Window Frames InstrumentPanels BearingFlange Front Crossbeam ShockTowers POWERTRAIN CylinderHead Cover Gearboxhousing Steering housing Cylinderblocks ClutchHousing FlangeHousing TRUCK Ladderframe TransmissionHousing Flywheel Housing Cover CoolingDuct Oil Pan 13 COSTAMP GROUP INVESTOR PRESENTATION
Case History Lamborghini Huracan – Rear Grille ❖ Casting and trimming ❖ Dimensional check through dedicated fixtures and gauges ❖ Machining ❖ Teflon coating ❖ Delivery to customer for assembly 14 COSTAMP GROUP INVESTOR PRESENTATION
Case History Lamborghini Huracan – Rear Grille COSTAMP GROUP INVESTOR PRESENTATION
Case History BMW – C-Evolution Electric Scooter ❖ Casting and Trimming 16 COSTAMP GROUP INVESTOR PRESENTATION
Low Pressure Die Casting (LPDC) / Gravity: products and applications Products Applications Gearbox Housing Engine Blocks CylinderHead Cover Exhaust Manifold ( Various configurations ) 17 COSTAMP GROUP INVESTOR PRESENTATION
Main Customers 58% of revenues is generated by the first 10 Clients, in line with market concentration High level of Client loyalty 18 COSTAMP GROUP INVESTOR PRESENTATION
PUZZLE DIE: Official Endorsement By Premium OEM For The Horizon 2020 Funding Program Daimler AG Jaguar Land Rover BMW AG COSTAMP GROUP INVESTOR PRESENTATION
PUZZLE_DIE: a short introduction Standard die Puzzle die 20 COSTAMP GROUP INVESTOR PRESENTATION
PUZZLE_DIE: a short introduction Standard die Puzzle die 21 COSTAMP GROUP INVESTOR PRESENTATION
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