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3
DEVELOPING TWO PROJECTS
UNIQUE business model developed SUCCESFULLY since 1996, with a solid TRACK RECORD and an IRR over 20%
Facing DIGITALIZATION in
productive activities, by applying knowledge and innovation to
achieve EFFICIENCY
Automotive components
Smart Innovation
4
WHAT IS C IE AUTOMOTIVE?
Integration, sum and management of processes in a sustainable, profitable and efficient way:
Automotive project carried forward in the context of the necessary consolidation of the TIER2 atomized sector.
Dominion project developed to challenge the status quo by applying Smart Innovation.
Succesful M&A track record: almost 70 M&A transactions since 1996, with 20.000 people integrated in Europe, Nafta, South America and Asia.
Strict acquisition discipline, requiring minimum ROI.
Mkt Cap: ≈ 2,300M€
Employees ≈ 25,000
Sales 2015: 2,632 M€
EBITDA (*) 2015:
366 M€
(*) EBITDA: Net Operating Income + Depreciation.
5 DOMINION IPO
AN INTEGRATION AND SUM STORY. . . Acquisition Joint venture
Greenfield
Divestment Biofuels
2000
1996 1998 2001 2004
2003 2005
2006 2007
2008
2009
2010 2011
2012
2013 2016
Inyectametal Udalbide
Egaña Galfor Orbelan Tarabusi
C.Vilanova Stuka Mecauto Mecasur
Autometal Bahía
Unitools Norma Autometal Plasfil
CIE Celaya
GSB-TBK
Gameko Promoauto
CIE Plasty
CIE Metal CIE Kataforesis SBC Cromado CIE China
Jardim Sistemas
Pemsa Saltillo
Praga Louny
Gave
Joamar
CIE Maroc
CIE Avtocom
Matic
CIE Stratis
Nanging Forg.
Century
1997 2002
Merger EGAÑA + AFORASA SBC Injection CIE Desc
Autoforjas
Durametal
Bionor
Matricon
Divestment GSB Acero
Pemsa Celaya
Recyde
Nakayone
Nugar
Resigras
BCGSA
NNE
Pemsa Ramos A.
Peer - LT Forge
Compiegne
ACS Group
Autometal D. Ávila
AUTOM IPO
Mahindra CIE 1st Phase
ACS México
Mahindra CIE 2nd Phase
2011
1997 2000
1996 1999 2001
2002
2004
2003 2005
2006 2007
2008 2009
2010
2012 2014
Merger INSSEC-CIE
DOMINION integration
Empresas tecnológicas información
Dominion: Soluciones y proyectos tecnológicos Dominion: Negocio Logístico
ECI Ibérica
Mexel
Install
Dominion Chile Business Excision: Dominion Services and Solutions and Dominion TI Dominion Perú
2013 SAP Mexico
Beroa
Creation INSSEC
Near
Bilcan
Dissolution of the JV CIE Avtocom
2016
CDI Abantia
Scorpio
Current Status
AUTOM Delisting
2014
Amaya Telleria
6
WEST EUROPE
AFRICA
USA • Plastic • Dominion MEXICO R&D • Aluminum • Forging • Stamping & Tube Forming • Machining • Plastic • Roof Systems • Dominion
NAFTA
. . .WITH GLOBAL FOOTPRINT…
SPAIN Headquarters R&D • Aluminum • Forging • Stamping & Tube Forming • Machining • Plastic • Roof Systems • Bionor • Dominion
ITALY • Machining • Dominion PORTUGAL R&D • Plastic • Dominion UK • Forging • Dominion
FRANCE R&D • Machining • Roof Systems • Dominion GERMANY R&D • Forging • Dominion DENMARK •Dominion
CZECH REP. • Stamping & Tube Forming • Machining • Plastic • Cold Forming LITHUANIA • Forging
RUSSIA • Aluminum & Machining
ROMANIA • Aluminum • Roof Systems SLOVAKIA • Machining • Dominion POLAND • Dominion
CENTRAL & EAST EUROPE
BRAZIL R&D • Forging • Stamping & Tube Forming • Machining • Aluminium • Plastic • Casting • Dominion
SOUTH AMERICA
PERU • Dominion ARGENTINA • Dominion
CHILE • Dominion
COLOMBIA •Dominion
HONDURAS •Dominion
GUATEMALA •Bionor
MOROCCO • Plastic
PANAMA • Dominion
SOUTH AFRICA • Dominion
ASIA & OCEANIA
CHINA • Forging • Stamping & Tube Forming • Machining • Plastic • Roof Systems INDIA R&D • Forging • Stamping • Machining • Casting • Composites • Dominion
AUSTRALIA • Dominion
BAHRAIN • Dominion INDONESIA • Dominion OMAN • Dominion QATAR • Dominion SAUDI ARABIA • Dominion UNITED ARAB EMIRATES • Dominion
VIETNAM • Dominion
7
53
80 91
116 133
157 181
116
193
234 224 240
291
365
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
481 570
670 782
910
1,109 1,261
1,016
1,429
1,673
1,562 1,696
2,160
2,632
2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
(*) From 2006 until 2014 , proforma values calculated by deducting turnover of diesel oil used for blending. CAGR (Compound Annual Growth Rate) EBITDA: Net Operating Income + Depreciation.
… WITH SUSTAINED AND PROFITABLE GROWTH…
Adjusted Turnover (*) (€ Mio)
EBITDA (€ Mio)
∆ 22% ∆ 26%
8
… AND WITH HEALTHY LEVERAGE EVOLUTION
(*) NFD = Net Financial Debt= Debt with banks and other financial institutions – Cash and equivalents / EBITDA: Net Operating Income + Depreciation
Net Financial Debt (€ Mio) NFD/EBITDA
NFD/Equity
535 538 507
342 394
575
720 670
3.0X
4.6X
2.6X
1.5X
1.8X
2.4X
2.5X
1.8X
2008 2009 2010 2011 2012 2013 2014 2015
2.0X
1.9X
1.4X
0.7X 0.8X
1.0X
0.8X 0.8X
2008 2009 2010 2011 2012 2013 2014 2015
9
CIE CULTURE: W H A T M A K E S T H E S E P R O J E C T S U N I Q U E ?
Multilocation, our own answer
Commercial diversification as
a defense tool
01 / 02 /
Diversity, a flexibility
instrument
03 / Decentralized
management, for value generation
04 / Investment
discipline and return exigence
05 /
Our Business Model:
11
STRATEGIC TARGETS - ORGANIC
(1) EBIT: Net Operating Income.
(2) RONA = “Return on Net Assets”: EBIT/ Net Assets (Fixed Assets + Net Working Capital – Goodwill not associated to cash outs)
(3) Net Financial Debt= Debt with banks and other financial institutions – Cash and equivalents
13
CIE CIE IN STOCK EXCHANGE
Net Income (€ Mio) and Net Income per share (€)
CIE share price Performance vs Ibex 35
-30%
-10%
10%
30%
50%
70%
90%
110%
130%
IBEX 35 CIE Automotive
98 €Mio
123 €Mio
0.76
0.95
30 Sept 2015 30 Sept 2016
14
Market Cap (€ Mio)
2015
% EBITDA s/ cifra negocio ajustada
Maximum price of period (euros)
1,993 1,453
12.29
Minimum price of period (euros) 10.65 7.21
Last price of period (euros) 15.45
Number of shares (Mio) 129 129
15.46
951
5.00
8.00
119
8.35
Volume (thousand shares) 62,970
Effective (€ Mio) 814 600
60,619
277
44,953
2014 2013
Source: Madrid Stock Exchange
CIE IN STOCK EXCHANGE
11.27
2016 Until end Oct
2,295
11.99
17.79
129
18.40
794
50,815