apresentação do powerpoint · 2019-05-23 · sector - ceramic tiles fragmented market player...
TRANSCRIPT
Teleconference
of Acquisition
CECRISA
May/2019
Strategic Context
2
Cultural Transformation
▪ New Way of Being and Doing▪ Assiduous Search for Simplicity;▪ High Performance Culture.
“Solutions for Better Living”
▪ A new purpose;▪ Consumer oriented solutions;▪ Clearly defined strategies.
Duratex Management System
▪ Productivity; Cost Efficiency.▪ Demand Management; Prices and services level.▪ Working Capital Control and Investments
Year founded: 1970
Net income 2018: R$652m
EBITDA 2018: R$112m
Website: www.ceramicacecrisa.com.br/
Ceramics Portfolio:
▪ Porcelain & Ceramic Floor tiles;▪ Wall tiles;▪ Roof tiles.
Acquisition Summary
442 264 275
Debt Cash Contingent Price
Borges de Freitas Family
23%77%
Shareholder Structure Net Revenue EBITDA
Transaction
Santa Luzia
1 plant
Cemisa 1.8m m³
Criciúma
2 plants
Portinari 13.8m m³
Eldorado 4.8m m³
A
B
667564 559
652
15A 16A 17A 18A
+17%
102
65
99112
16%12%
18% 18%
-1
1
3
5
7
9
11
13
15
17
19
0
200
15A 16A 17A 18A
EBITDA (R$ million) Mg. EBITDA (%)
+15%
Why CECRISA?
✓ Premium positioning of the
PORTINARI brand;
✓ Strategic positioning of the product
and attractive returns;
✓ Portfolio complements CEUSA;
✓ Strategic location: close to the CEUSA unit in SC;
CECRISA focuses on high-end products and more profitable channels, expanding the offering to cover SOLUTIONS FOR ALL ENVIRONMENTS.
Sector - Ceramic Tiles
Fragmented Market
PlayerCapacity
(million m²)
Capacity
Share
A 48 4.6%
B 39 3.7%
C 38 3.6%
Duratex 31 3.0%
E 30 2.9%
Market 1051 100%2018
793
Portfolio of Tiles (million m²)
o The demand for plain tiles was negatively impacted by the fall in civil construction;
o Potential demand in the order of 900 million m² per year –opportunity for g r owth;
o Expected recovery in the sector with an uptick in civil construction.
o Average production in the sector last year was60-70 million m²/month;
o Capacity utilization for the sector was100%;o Production stable in 2018 vs 2017.
Capacity Utilization Potential Future Growth
3%
17%
20%
60% FLOOR
WALL
PORCELAIN
FACADES
Source: ANFACER; internal estimates.
Accelerates delivery of the Duratex Proposition;
Accelerates initiatives for offering complete solutions (one stop shop);
Product line fits alongside the existing Duratex portfolio;
Rationale for Transaction and Opportunities
75
Solutions for Better Living
Same consumer profile as the Ceusa products; Trade and operational synergies between CEUSA and PORTINARI;Complementary ceramic product portfolios – more complete and wide-ranging portfolio;Synergies with distribution channels: Home centers, retail, construction companies and others;Administrative structure;
Synergies with CEUSA
Durafloor: laminated floors and LVT;Duratex: Ceramic tiles for walls and linings;CEUSA+PORTINARI: porcelain and ceramic tiles for the floor, walls and roof;
Ceramic Tile Portfolio
Expected Synergies above R$250 million.
The information contained herein was prepared by Duratex SA and does notconstitute an offer material for the subscription or purchase of securities of theCompany. This material contains general information about Duratex and markets inwhich it is inserted. No representation or warranty, express or implied, is made, andno trust shall be deposited, in the accuracy, justification or completeness of theinformation presented.
Duratex can not give any certainty as to the fulfillment of the presentedexpectations.
May 2019
Disclaimer and Glossary
6