ITALIAN DESIGN & ENGINEERING A Luxury Design and Engineering Company September 4th, 2018
PININFARINA SIGNATURE A WORLD LEADING DESIGN HOUSE ESTABLISHED IN 1930 IN TURIN, ITALY We do innovate defying conventions. Inspired by nature and humans, our aim is to challenge what other people thought was impossible. Ferrari Modulo (1970)
GROUP MILESTONES 1930 1958 1972 1982 2001 2008 2017 1957 1971 1981 2000 2007 2016 ONWARDS Pininfarina as Global Design House, provide r of high level Company foundation and From Craftsmanship From Factory Technology Internationalization and Product and Process Design, Engineering, Craftsmanship phase to Factory to Technology and Design full service provider Engineering, Niche Niche Manufacturing strategy Manufacturing services
GLOBAL PRESENCE 626 EMPLOYEES GLOBALLY & 120+ CONTRACTORS * Pininfarina Deutschland Munich & Stuttgart 224 emp. Pininfarina of America Pininfarina Turin Headquarter 14 emp. 352 emp. Los Angeles Pininfarina Shanghai China Miami 36 emp. Pininfarina offshoring center – Pune 20+ resources * as of 30/06/18
CLIENTS AND PARTNERS MORE THAN 110 ACTIVE CLIENTS AUTOMOTIVE TRANSPORTATION INDUSTRIAL DESIGN GRAPHIC & PACKAGING ARCHITECTURE & INTERIORS
GOVERNANCE Tech M M&M 60% 40% Free float PF Holdings BV 76.18% 23.82% PF SPA Board of directors 9 members, 5 independent directors Treasury shares held by PF SPA 0.03% PF SPA part of italian listed brands of Borsa Italiana
KEY FINANCIALS FROM A PERIOD OF CRISIS – TURNAROUND IN PLACE AND BACK TO PROFIT IN 2017 AFTER 14 YEARS 2007 2011 2017 670,4 609,0 207,2 87,1 62,0 37,8 2% 8% 9% Net financial 4,7 Net financial 12,8 1,3 7,5 Net Profit Net Profit 7,5 position position Vop EBITDA Net Profit Vop EBITDA Vop EBITDA Net financial Financial Financial Financial -11,5 position debts debts debts -82,9 -114,5 -157,4 All figures in € M
STRATEGY BRAND R&D / TECHNOLOGY ENGINEERING SERGIO FOREVER Pininfarina Cambiano H600 eco-friendly luxury sedan Engineering development Ferrari Sergio concept for Hybrid Kinetic Group
STRATEGY DEPLOYED INCREASE IN VALUE OF PRODUCTION 2017 VS 2016 BRAND R&D / TECHNOLOGY ENGINEERING +26 % +27 % 2016 2017 2016 2017
KEY FINANCIALS All figures in € M MARCH YTD RESULTS 2018 VS 2017 GROUP GROUP NET EBITDA NET PROFIT VOP SHAREHOLDER’S FINANCIAL POSITION EQUITY 28,4 61,1 18,6 13,1 30,5 4,1 2,1 Q1 17 Q1 17 0,9 -0,4 Q1 18 Q1 18 Q1 17 Q1 18 Q1 17 Q1 18 Q1 17 Q1 18 -18,6 2018 2017
KEY FINANCIALS All figures in € M JUN YTD RESULTS 2018 VS 2017 GROUP GROUP NET EBITDA NET PROFIT VOP SHAREHOLDER’S FINANCIAL POSITION EQUITY 55,3 62,3 56,5 39,6 8,3 7,0 3,8 3,1 H1 17 2,2 -0,6 H1 18 H1 17 H1 18 H1 18 H1 17 H1 18 H1 17 H1 18 H1 17 2018 2017
NEW GROUP STRUCTURE FROM 2018 PININFARINA VISION AND BUSINESS STRATEGY DEPLOYED THROUGH A NEW COMPANY STRUCTURE On going rationalization of the corporate structure of the Group. Objectives: Concentrate, in single legal entities, the different activities in which the Group operates • Centralize the commercial strategies and synergies in executive functions • Shorten the control chain - optimization of the structure and the relative costs • Current Actions: Grouping all engineering resources (Italian & German operations) : "Pininfarina Engineering S.r.l." operational as • of July 1 st , 2018 Grouping all design and brand activities: merger by incorporation project of Pininfarina Extra S.r.l. in Pininfarina • S.p.A. , effective from January 1 st 2019
STRATEGY DEPLOYED VALUE OF PRODUCTION GROWTH IN PININFARINA KEY MARKETS, 2017 vs 2016 EUROPE +10% CHINA 2017 2016 +50% 2017 2016 MIDDLE EAST AMERICAS +600% +2% OTHER +20% 2016 2017 2017 2016 2016 2017
VALUE OF PRODUCTION 2017 - BY SERVICES AND CLIENTS SERVICES CLIENTS 60% of tot VOP with 60% Top 4 clients 100% DESIGN 27% 40% of tot VOP with 40% 100+ clients Note. Operating revenues only
WHERE DO WE SEE EXCEPTIONAL GROWTH OPPORTUNITIES FOR PININFARINA BRAND R&D / TECHNOLOGY ENGINEERING Work packages, PF branded and Autonomous Branded luxury • • • • turnkey services co-branded one driving products Focus on off/limited series Design end 2 end Licensing of the • • • connected, vehicles customer brand & autonomous, One-off non- experiences cobranding • shared and auto design Digital & Physical activities • electric bespoke Design integrated solutions
ENGINEERING SERVICES OUTSOURCING (ESO) AUTOMOTIVE ESO MARKET GROWS BY 6% TO EUR 22 BN IN 2020. EUROPE LARGEST MARKET, CHINA AND INDIA GROWTH REGIONS CAGR CAGR 2016-2020 2016-2020 22 B € 6% 4% RoW 17 B € 14% India NAFTA 5% Global China 13% auto ESO market by region Europe 4% 2020 2016
LUXURY COACHBUILDER INNOVATION & HERITAGE Pininfarina has the exceptional prestige to become the leading company in the businesses of classic • cars and exclusive Fuoriserie production . The specific skills and craftsmanship related to these activities are unique assets for the company, to • be protected, developed and valued. Ferrari Sergio PF0 H2Speed
360 ° DESIGN HOUSE CAPTURING THE GROWING DEMAND FOR CUSTOMIZED PRODUCTS WITH A HIGH LEVEL OF INNOVATION AND SENSE OF UNICITY • The expression of innovation , purity and elegance is applied to all experiences and products, merging physical and digital, from luxury cars, to electronics, to architecture. • Integrated multidisciplinary and multicultural talents under one roof, in order to deliver superior customer experiences. ARCHITECTURE INTERIORS AND TRANSPORTATION PRODUCT DESIGN LIFESTYLE PRODUCTS DESIGN STRATEGY &INTERIORS FURNITURE
PF BRAND EXTENSION
PININFARINA VISION A LUXURY DESIGN AND ENGINEERING COMPANY R&D / TECHNOLOGY BRAND ENGINEERING
DISCLAIMER This document has been prepared solely for this presentation and does not constitute an offer of securities for sale in any jurisdiction. This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe or sell for, or any offer to underwrite or otherwise acquire any shares in the Company or any other securities, nor shall the presentation form the basis of or be relied on in connection with any contract or investment decision relation thereto, or constitute a recommendation regarding the securities of the Company or a proposal or an undertaking to enter into an agreement or a commitment to any kind of obligation. The actual results may differ materially from those expressed in any forward-looking statement and the Company does not assume any liability with respect thereto. The content of this document has a merely informative nature and the statements contained herein have not been independently verified. Neither the Company nor any of its representatives shall accept any liability whatsoever (whether in negligence or otherwise) arising in any way from the use of this document or its contents or otherwise arising in connection with this document or any material discussed during the presentation. The Manager in Charge of preparing the Company financial reports hereby certifies pursuant to paragraph 2 of art. 154-bis of Legislative Decree no. 58 of February 24, 1998, that the accounting disclosures of this document are consistent with the accounting documents, ledgers and entries.
Thank you! www.pininfarina.com store.pininfarina.com
Recommend
More recommend
