ITALIAN DESIGN & ENGINEERING - A Luxury Design and Engineering Company September 4th, 2018 - Pininfarina
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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, provider of high level
Company foundation and From Craftsmanship From Factory Technology Internationalization and Product and Process
Craftsmanship phase to Factory to Technology and Design full service provider Engineering, Niche Design, Engineering,
strategy Manufacturing Niche Manufacturing
services
GLOBAL PRESENCE
626 EMPLOYEES GLOBALLY & 120+ CONTRACTORS *
Pininfarina Deutschland
Munich & Stuttgart
224 emp.
Pininfarina of America
14 emp. Pininfarina Turin Headquarter
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
23.82% 76.18%
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
670,4
2007 609,0
2011 2017
207,2
87,1
62,0
37,8
2% 8% 9%
12,8 Net financial 4,7 Net financial
Net Profit position Net Profit position 7,5 1,3 7,5
Vop EBITDA Financial Vop EBITDA Financial Vop EBITDA Net Profit Net financial Financial
debts -11,5 debts position debts
-82,9
-114,5
-157,4
All figures in € M
STRATEGY
R&D / TECHNOLOGY BRAND
ENGINEERING
SERGIO
Engineering development Ferrari Sergio H600 eco-friendly luxury sedan FOREVER Pininfarina Cambiano
concept for Hybrid Kinetic GroupSTRATEGY DEPLOYED
INCREASE IN VALUE OF PRODUCTION 2017 VS 2016
R&D / TECHNOLOGY BRAND
ENGINEERING
+27 % +26 %
2016 2017 2016 2017KEY FINANCIALS All figures in € M
MARCH YTD RESULTS 2018 VS 2017
VOP EBITDA NET PROFIT GROUP NET GROUP
FINANCIAL POSITION SHAREHOLDER’S
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 17 Q1 18 Q1 17 Q1 18 Q1 18 Q1 18 Q1 17
-18,6
2018 2017KEY FINANCIALS All figures in € M
JUN YTD RESULTS 2018 VS 2017
VOP EBITDA NET PROFIT GROUP NET GROUP
FINANCIAL POSITION SHAREHOLDER’S
EQUITY
55,3
62,3
56,5
39,6
8,3
7,0
3,1 3,8
H1 17
2,2
-0,6
H1 18 H1 17 H1 18 H1 17 H1 18 H1 18 H1 17 H1 18 H1 17
2018 2017NEW 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 1st, 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 1st 2019STRATEGY DEPLOYED
VALUE OF PRODUCTION GROWTH IN PININFARINA KEY MARKETS, 2017 vs 2016
EUROPE
+10%
CHINA
2016 2017 +50%
2016 2017
MIDDLE EAST
AMERICAS
+2% +600%
OTHER
+20%
2016 2017
2016 2017
2016 2017VALUE OF PRODUCTION 2017 - BY SERVICES AND CLIENTS
SERVICES CLIENTS
60% 60% of tot VOP with
Top 4 clients
100%
DESIGN
27%
40% 40% of tot VOP with
100+ clients
Note. Operating revenues onlyWHERE DO WE SEE EXCEPTIONAL GROWTH OPPORTUNITIES FOR PININFARINA
R&D / TECHNOLOGY BRAND
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
solutionsENGINEERING 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 22 B € 2016-2020
6%
17 B € RoW 4%
India 14%
NAFTA 5%
Global
auto ESO China 13%
market by
region
Europe 4%
2016 2020LUXURY 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 H2Speed360° 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 FURNITUREPF BRAND EXTENSION
PININFARINA VISION
A LUXURY DESIGN AND ENGINEERING COMPANY
R&D / TECHNOLOGY BRAND
ENGINEERINGDISCLAIMER 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
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