24
ITALIAN DESIGN & ENGINEERING A Luxury Design and Engineering Company September 4th, 2018
ITALIAN DESIGN & ENGINEERING
A Luxury Design and Engineering Company
September 4th, 2018
PININFARINA SIGNATURE
Ferrari Modulo (1970)
We do innovate defying conventions.
Inspired by nature and humans, our aim is to challenge what other people thought was impossible.
A WORLD LEADING DESIGN HOUSE ESTABLISHED IN 1930 IN TURIN, ITALY
19301957
19581971
19721981
19822000
20012007
2008 2016
Company foundation and Craftsmanship phase
From Craftsmanship to Factory
From Factoryto Technology
Technology and Design
Internationalization and full service provider
strategy
Design House,Product and Process Engineering, Niche
Manufacturing
GROUP MILESTONES
2017ONWARDS
Pininfarina as Global provider of high level Design, Engineering, Niche Manufacturing
services
Pininfarina Deutschland
Munich & Stuttgart
Miami
Pininfarina
Shanghai China
Pininfarina Turin Headquarter
GLOBAL PRESENCE
626 EMPLOYEES GLOBALLY & 120+ CONTRACTORS *
* as of 30/06/18
224 emp.Pininfarina of America
36 emp.
Pininfarina offshoring
center – Pune
20+ resources
352 emp.Los Angeles
14 emp.
AUTOMOTIVE
INDUSTRIAL DESIGN
TRANSPORTATION
ARCHITECTURE & INTERIORS
GRAPHIC & PACKAGING
CLIENTS AND PARTNERS
MORE THAN 110 ACTIVE CLIENTS
GOVERNANCE
PF Holdings BV
Tech M
PF SPA
Board of directors 9 members, 5 independent directors
Free float
PF SPA part of italian listed brands of Borsa Italiana
M&M
23.82% 76.18%
Treasury shares held by PF SPA 0.03%
60% 40%
KEY FINANCIALS
All figures in € M
Vop EBITDA Net Profit Net financialposition
Financial debts
2017
Vop EBITDA
Net ProfitNet financial
position
Financial debts
2011
Vop EBITDA
Net ProfitNet financial
position
Financial debts
2007670,4
609,0
207,2
12,8
-114,5
-157,4
62,0
4,7
-11,5
-82,9
87,1
7,5 1,3 7,5
37,8
2% 8% 9%
FROM A PERIOD OF CRISIS – TURNAROUND IN PLACE AND BACK TO PROFIT IN 2017 AFTER 14 YEARS
STRATEGY
BRANDR&D / TECHNOLOGY
ENGINEERING
Ferrari Sergio H600 eco-friendly luxury sedan
concept for Hybrid Kinetic Group
FOREVER Pininfarina CambianoEngineering development
SERGIO
STRATEGY DEPLOYED
2016 20172016 2017
+26 %+27 %
INCREASE IN VALUE OF PRODUCTION 2017 VS 2016
BRANDR&D / TECHNOLOGY
ENGINEERING
KEY FINANCIALSAll figures in € M
MARCH YTD RESULTS 2018 VS 2017
VOP EBITDA NET PROFIT
28,4
18,6
Q1 18 Q1 17
0,9
4,1
-0,4
2,1
Q1 18 Q1 17 Q1 18
Q1 17
GROUP NET
FINANCIAL POSITION
GROUP
SHAREHOLDER’S
EQUITY
13,1
Q1 18
61,1
-18,6
Q1 17
2018 2017
30,5
Q1 18 Q1 17
KEY FINANCIALSAll figures in € M
JUN YTD RESULTS 2018 VS 2017
VOP EBITDA NET PROFIT
55,3
39,6
H1 18 H1 17
2,2
7,0
-0,6
3,1
H1 18 H1 17 H1 18
H1 17
GROUP NET
FINANCIAL POSITION
GROUP
SHAREHOLDER’S
EQUITY
3,8
62,3
2018 2017
56,5
8,3
H1 18 H1 17 H1 18 H1 17
NEW GROUP STRUCTURE FROM 2018
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 2019
PININFARINA VISION AND BUSINESS STRATEGY DEPLOYED THROUGH A NEW COMPANY STRUCTURE
2016 2017
AMERICAS
2016 2017
EUROPE
2016 2017
CHINA
2016 2017
MIDDLE EAST
2016 2017
OTHER+2%
+10%
+50%
+600%
+20%
STRATEGY DEPLOYEDVALUE OF PRODUCTION GROWTH IN PININFARINA KEY MARKETS, 2017 vs 2016
VALUE OF PRODUCTION 2017 - BY SERVICES AND CLIENTS
SERVICES
DESIGN
27%
CLIENTS
100%
60% of tot VOP with
Top 4 clients
40% of tot VOP with
100+ clients
60%
40%
Note. Operating revenues only
WHERE DO WE SEE EXCEPTIONAL GROWTH OPPORTUNITIES FOR PININFARINA
• PF branded and
co-branded one
off/limited series
vehicles
• One-off non-
auto design
bespoke
solutions
• Autonomous
driving
• Design end 2 end
customer
experiences
• Digital & Physical
Design integrated
• Work packages,
turnkey services
• Focus on
connected,
autonomous,
shared and
electric
• Branded luxury
products
• Licensing of the
brand &
cobranding
activities
BRANDR&D / TECHNOLOGY
ENGINEERING
ENGINEERING SERVICES OUTSOURCING (ESO)
2020
22 B €
RoW
India
CAGR
2016-2020
2016
17 B €
NAFTA
China
4%
5%
14%
13%Global
auto ESO
market by
region
AUTOMOTIVE ESO MARKET GROWS BY 6% TO EUR 22 BN IN 2020.
EUROPE LARGEST MARKET, CHINA AND INDIA GROWTH REGIONS
6%
Europe 4%
CAGR
2016-2020
PF0Ferrari Sergio H2Speed
LUXURY COACHBUILDER
• 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.
INNOVATION & HERITAGE
TRANSPORTATIONARCHITECTURE
&INTERIORS
INTERIORS AND
FURNITUREPRODUCT DESIGN LIFESTYLE PRODUCTS DESIGN STRATEGY
• 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.
360° DESIGN HOUSE CAPTURING THE GROWING DEMAND FOR CUSTOMIZED PRODUCTS
WITH A HIGH LEVEL OF INNOVATION AND SENSE OF UNICITY
PF BRAND EXTENSION
PININFARINA VISION
A LUXURY DESIGN AND ENGINEERING COMPANY
BRANDR&D / TECHNOLOGY
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
