presentación de powerpoint · 2020. 10. 29. · cerro verde cuajone toquepala toromocho mina justa...

Corporate PresentationMarch 2020

Ferreycorp and

Strategy

SHAREHOLDER STRUCTURE

HIGHLIGHTSFERREYCORP

• Established in Peru in 1922.• 98 years of business, 78 years of alliance with CAT. Currently

operating thru 17 companies within 10 countries employing aworkforce of +6,000.

• Key facts:• 60% Caterpillar Market Share• Market cap (Mar-2020) ~ $600MM• Shareholders +2,500

Pension funds36%

Local shareholders

36%

Foreign shareholders

28%

3

Guatemala

El Salvador

Belice

El Salvador, Honduras

Nicaragua

Chile, Colombia , Ecuador, Perú

BVL: FERREYC1

CORPORATE STRUCTURE

Caterpillar dealers and alliedbrands in Peru

Caterpillar dealers and other businesses in Central America

Other subsidiaries in Peru and abroad

4

DIVERSIFICATION STRATEGY

Sales

%of Total Sales

EBITDA

% of Total EBITDA

EBITDA Margin

#of employees

As of December 2019(S/. Million)

Caterpillar dealers and allied brands in Peru

Caterpillar dealers and other businesses in Central America

Other subsidiaries in Peru and abroad

(*) Third group of companies increasing their share in total sales: 2013(10%), 2014 (11%), 2015 (12%), 2016(15%), 2017 and 2018 (16%) – as a result of diversification strategy through complementary businesses.

4,481 436 948

76% 8% 16%

550 51 96

79% 7% 14%

12% 12% 10%

4,695 744 1,210

5

Machinery

Agriculture business

Automotive business

Consumables

Services

6

STRATEGYCOMPLETE VALUE PROPOSITION

http://www.carmix.com/index.htmlhttp://images.google.com/imgres?imgurl=http://www.dirtygirlmotorracing.com/sponsor-lincoln-logo.gif&imgrefurl=http://www.dirtygirlmotorracing.com/links.html&h=99&w=300&sz=7&hl=en&start=4&sig2=jWq9ZYoisSj2st2xqvCGgQ&um=1&usg=__m5mmvVNmKmOZa80vrDB0fn2AyMQ=&tbnid=c5HfR0YbMezaIM:&tbnh=38&tbnw=116&ei=frr7SNbJG5GweviW2CE&prev=/images?q=Lincoln+electric+logo&um=1&hl=en&safe=offhttp://www.3m.com/us

7

PRESENCE IN SOUTH AND CENTRAL AMERICAREPRESENTING LEADER BRANDS

http://www.carmix.com/index.htmlhttp://images.google.com/imgres?imgurl=http://mtzionmh.com/i/Genie-Logo.jpg&imgrefurl=http://mtzionmh.com/&h=379&w=1000&sz=138&hl=en&start=1&sig2=f0GMH1mF9IX40IcI0em2dg&um=1&usg=__PSqMUmkt4UsdYGPcCAzQnFji8dc=&tbnid=bat_jYyHiD0XnM:&tbnh=56&tbnw=149&ei=M7v7SO60LIeOeeDjpRg&prev=/images?q=Genie+logo&um=1&hl=en&safe=off&sa=Nhttp://images.google.com/imgres?imgurl=http://www.dirtygirlmotorracing.com/sponsor-lincoln-logo.gif&imgrefurl=http://www.dirtygirlmotorracing.com/links.html&h=99&w=300&sz=7&hl=en&start=4&sig2=jWq9ZYoisSj2st2xqvCGgQ&um=1&usg=__m5mmvVNmKmOZa80vrDB0fn2AyMQ=&tbnid=c5HfR0YbMezaIM:&tbnh=38&tbnw=116&ei=frr7SNbJG5GweviW2CE&prev=/images?q=Lincoln+electric+logo&um=1&hl=en&safe=offhttp://www.3m.com/us

KEY CAPABILITIESCREATING VALUE

Long term strategic partnerships

Market coverage

Unmatched supply chain and logisticscapabilities

Financial strength and funding sources

In-depth market knowledge

Innovation and technology

Ethics and compliance, Corporate Governanceand Sustainability

8

Fundamental

of the Business

SUSTAINABLE BUSINESS MODEL

• Resilient business model.

• Spare parts and services support business.

• Diversification strategy through business lines,presence in different economic sectors,different countries, various represented brandsand a diversified portfolio of products relatedto capital goods.

10

31%

52%

9%

8%

52%33%

6%9%

51%

31%

10%

8%

(*) Other lines include: logistic businesses, lubricants and consumables.

-

500

1,000

1,500

2,000

2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

-

34%

50%

9%7%

Machinery

Spare parts andservices

Rental and used

Others

US$1.9Bn US$

1.7BnUS$

1.6BnUS$

1.4BnUS$

1.4Bn

US$1.5Bn

US$ MM

US$1.8 Bn

Sales by Business Lines

SALES BY GROUP OF COMPANIES(In S/ mm)

Other subsidiaries in Perú and abroad

CAT dealers and other businesses in CA

CAT dealers and allied brands in Perú

Sales by group of companies

116 102 113

424 436

19.6%25.0% 25.0% 22.5% 25.0%

0.0%

20.0%

40.0%

60.0%

80.0%

100.0%

120.0%

140.0%

Q4'18 Q3'19 Q4'19 2018 2019Gross margin

- 3%

+ 3%

1,122 1,267 1,164

3,952

24.5% 25.0% 22.0% 25.40% 24% 10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

Q4'18 Q3'19 Q4'19 2018 2019

Gross margin

+13%

+4%

201 232274

836

18.0% 20.0% 18.0% 18.3% 19.0%0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

Q4'18 Q3'19 Q4'19 2018 2019

Gross margin

+13%

+36%

11

78% 79% 75% 76% 78%

8% 6% 7% 8% 7%

14% 14% 18% 16% 15%

Q4'18 Q3'19 Q4'19 2018 2019Cat dealers and allied brands in Peru Cat dealers and other businesses in CAOther subsidiaries in Peru and abroad

4,481

948

In unitsRolling 12 mo, Dec 2019

US$ FOB Rolling 12 mo, Dec 2019



CATERPILLAR54%

JOHN DEERE13%

JCB2%

KOMATSU8%

VOLVO2%

CASE3%

BOBCAT4%

WACKER NEUSON

2%

HYUNDAI2%

MANITOU2%

DOOSAN1%

OTROS7%

General construction

Heavy construction

Underground mining

Open pit mining

12

CATERPILLARMARKET SHARE IN PERU

CATERPILLAR61%

KOMATSU25%

HITACHI3%

EPIROC9%

P&H2%

CATERPILLAR75%

SANDVIK14%

EPIROC10%

XWD1%

CATERPILLAR59%

KOMATSU18%

VOLVO7%

JOHN DEERE6%

HYUNDAI2%

BOMAG2%

XCMG1%

DOOSAN3% SEM

1%

OTROS1%

Source: Minem & Ferreyros

US$ MillionMining Invest.

US$ Bn

198 229268

325 325 361 354407

500 528137

205

314

343

136

179 160119

87

150

0

1

2

3

4

5

6

7

8

9

10

0

100

200

300

400

500

600

700

800

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Sales of spare parts and services (mining) Sale mining equipment Mining investment

MINING INVESTMENTMINING MACHINERY, SPARE PARTS AND SERVICES

13

Mining Investment

US$ Billion Units

*Considers mining trucks 785 onwards + electric and hydraulic shovels former Bucyrus

MINING INVESTMENT EVOLUTIONCATERPILLAR EQUIPMENT FOR MINING

7 16 16

57

98

131

165 166 173192

215234

249281

323

360376

416

482

515

563592

617 627651

$0

$2

$4

$6

$8

$10

199

5

199

6

199

7

199

8

199

9

200

0

200

1

200

2

200

3

200

4

200

5

200

6

200

7

200

8

200

9

201

0

201

1

201

2

201

3

201

4

201

5

201

6

201

7

201

8

201

9

0

100

200

300

400

500

600

700

Unidades entregadas camiones y palas Inversión MineraMining trucks and shovels population Mining investment

14

MINING PROJECTS PORTFOLIOUS$ 59 BILLION

• Yanacocha Sulfuros• Anubia• Los Chancas• Quicay II• San Gabriel• Haquira• Michiquillay• Antilla• AZOD• Bayovar 12• Cotabamba• Don Javier• El Galeno• Fosfato Mantaro• Hierro Apurimac• La Granja• Los Calatos• Macusani• Pukaqaqa• Racaycocha Sur• Rondoni• Trapiche

• Amp Pachapaqui• Integración Coroccohuayco• Zafranal• Fosfatos Pacífico• Magistral• Amp Bayóvar• Cañon Florida• Conga• Cañariaco• El Padrino e Hilarión• Ollachea• Quechua• Río Blanco• San Luis

• Amp Santa María• Optimización Lagunas Norte• Corani• Tia Maria• Pampa de Pongo

• Amp Toquepala• Quecher Main• Relaves B2 San Rafael• Amp Toromocho• Ariana• Mina Justa• Quellaveco

Pre Feasibility Feasibility Engineering ConstructionUS$31 BILLION US$13 BILLION US$5 BILLION US$10 BILLION

PROJECTINVESTMENT

(US$ MM)

Construction period

Relaves B2 San Rafael 200

Mina Justa 1,600

Quecher Main 300

Amp Toromocho 1,355

Ariana 125

Quellaveco 5,300

Amp Santa María 110

9,000

2018 2019 2020 2021 2022

PROJECTS IN CONSTRUCTION STAGE (2019)

Source: MINEM

15

MINING PROJECTSCONSTRUCTION STAGE – NEXT YEARS

2019 2020 2021 2022

US$ 9,000mm US$ 3,959mm US$ 3,357mm US$ 5,140mm

PROJECTINVESTMENT

(US$ MM)

Relaves B2 San Rafael 200

Mina Justa 1,600

Quecher Main 300

Amp Toromocho 1,355

Ariana 125

Quellaveco 5,300

Amp Santa María 110

9,000

PROJECTINVESTMENT

(US$ MM)

Optimiz Inmaculada (UG) 136Integración Coroccohuayco 590

Amp Pachapaqui (UG) 117

Corani 585

San Gabriel (UG) 431

Yanacocha Sulfuros 2,100

3,959

PROJECTINVESTMENT

(US$ MM)

Pampa de Pongo 2,200

Zafranal 1,157

3,357

PROJECTINVESTMENT

(US$ MM)

Magistral 480

Haquira 1,860

Los Chancas 2,800

5,140

Source: MINEM

16

17

Yanacocha

Las Bambas

Shougang

Constancia

Antapaccay

Cerro Verde Cuajone

Toquepala

Toromocho

Mina Justa

Quellaveco

Cerro Corona

Raura (UG)

Islay (UG)

Cerro Lindo (UG)

Marcona

Iscaycruz

El Porvenir (UG)

Atacocha (UG)

San Cristobal (UG)

Carahuacra (UG)

Andaychagua (UG)

San Rafael (UG)

Pucamarca

Animon (UG)

PRESENCE IN LARGE OPEN PIT,MEDIUM SIZE AND UNDERGROUND MINING

Shahuindo

Yauliyacu

Inmaculada (UG)

Pallancata (UG)

Morococha

Uchucchacua

La Zanja

Iscaycruz

17

Antamina

HEAVY CONSTRUCTIONINDUSTRY EVOLUTION

Units

18

14

55

14

52

13

90

12

67

12

09

11

45

10

47

97

09

32

84

07

99

77

68

00

82

07

71

78

9 82

68

42 9

09

98

7 10

30 10

99 1

19

3 12

64

12

85 13

45

13

79

14

29

15

57

16

02 1

68

51

70

5 18

00

18

29

18

50

18

56

18

96

19

07

19

42

19

62

19

85 20

48 21

06 21

74

21

73

22

08

21

53

21

70 22

34

22

15

22

29

22

20

21

48

21

18

20

80

20

51

19

89

19

34

19

36

19

43

18

62

18

32

17

85

17

81

17

43

17

39

16

41

15

99

15

69

15

70

15

14

13

87

13

74

13

50

12

30

11

86

11

70

10

94

10

51

10

19

96

09

41

94

59

65

96

29

06 94

59

53

93

79

25

91

78

73

87

68

26

78

77

60

71

87

20

68

16

20

56

25

41

52

15

07

51

95

21

53

85

57

54

15

27

52

8 56

95

94 62

76

39

64

16

49

64

56

66

66

56

77 7

34 76

47

50

77

17

70

79

18

08

78

87

96

79

48

17

82

8

0%

10%

20%

30%

40%

50%

60%

70%

0

500

1000

1500

2000

2500

No

v-0

8

Ene-

09

Mar

-09

May

-09

Jul-

09

Set-

09

No

v-0

9

Ene-

10

Mar

-10

May

-10

Jul-

10

Set-

10

No

v-1

0

Ene-

11

Mar

-11

May

-11

Jul-

11

Set-

11

No

v-1

1

Ene-

12

Mar

-12

May

-12

Jul-

12

Set-

12

No

v-1

2

Ene-

13

Mar

-13

May

-13

Jul-

13

Set-

13

No

v-1

3

Ene-

14

Mar

-14

May

-14

Jul-

14

Set-

14

No

v-1

4

Ene-

15

Mar

-15

May

-15

Jul-

15

Set-

15

No

v-1

5

Ene-

16

Mar

-16

May

-16

Jul-

16

Set-

16

No

v-1

6

Ene-

17

Mar

-17

May

-17

Jul-

17

Set-

17

No

v-1

7

Ene-

18

Mar

-18

May

-18

Jul-

18

Set-

18

No

v-1

8

Ene-

19

Mar

-19

May

-19

Jul-

19

Set-

19

No

v-1

9

INDUSTRIA PINS % PINS (Rolling 12)

INFRASTRUCTURE GAP IN PERUUS$ 160 BILLION

US$ Billion 2016-2025

Water and sanitation 12.5

Telecom 27.0

Transport 57.5

Energy 30.7

Health 18.9

Education 4.6

Hydraulic 8.5

Total 159.7

Source: AFIN

Water and sanitation

8%

Telecom17%

Transport36%

Energy19%

Health12%

Education3%

Hydraulic5%

Investment by sector

19

NATIONAL PLAN FORCOMPETITIVENESS AND PRODUCTIVITY

• National Infrastructure Plan: Projects for US$30 billion to reduce the gap of basic services in 30% and will be developed in the next10 years.

Agriculture6% Energy

5%Sanitation

6%

Transport and communications

83%

Investment by sector

ProjectInvestment

(S/mm)Sector Stage

Línea 2 y Ramal Av. Faucett-Av. Gambeta de la Red Básica del Metro de Lima y Callao

17,105 Transport Execution

Línea 3 Red básica del metro de Lima, provincia de Lima, departamento de Lima

12,373 Transport Filing

Longitudinal de la Sierra Tramo 4: Huancayo-Ayacucho-Andahuaylas - Pte.

Sahuinto y dv. pisco - Ayacucho9,862 Transport Structuring

Construcción del anillo vial periférico de la ciudad de Lima y Callao

6,772 Transport Structuring

Programa de infraestructura vial para la competitividad regional - Proregión

6,120 Transport Filing

Ampliación del Aeropuerto Internacional Jorge Chávez


Chavimochic (Tercera Etapa) 3,149 Agriculture ExecutionAmpliación del Terminal Multipropósito Muelle Norte - Callao - APM Terminals

Callao3,000 Transport Execution

Obras de cabecera y conducción para el abastecimiento de agua potable para Lima

2,513 Sanitation Execution

Mejoramiento y ampliación del servicio aeroportuario en la región Cusco mediante

el nuevo aeropuerto internacional de Chinchero-Cusco


ProjectInvestment

(S/mm)Sector Stage

Construcción y Mejoramiento de la Carretera Central, Tramo: Autopista puente los Ángeles - Ricardo Palma

2,321 Transport Feasibility

Mejoramiento y ampliación del servicio aeroportuario (Piura y Trujillo)


Ampliación del Terminal de Contenedores Muelle Sur - Callao - DP World Callao


Majes Siguas (Segunda Etapa) 2,019 Agriculture ExecutionMejoramiento y ampliación de los

servicios de agua potable y alcantarillado en las ciudades de Puno, Juliaca y Pucallpa

1,780 SanitationTechnical

record

Rehabilitación y mejoramiento de la carretera Ruta N PE-8, EMP. PE-1N (Ciudad

de Dios) y EMP. PE-3N Cajamarca1,599 Transport

Technicalrecord

Mejoramiento de la Carretera puente Ricardo Palma - La Oroya: Variante emp. PE-022 km. 101+379 (Rio Blanco) - emp.

ruta PE-3S km. 21+918 (Huari)

1,481 Transport Viability

Central Hidroeléctrica San Gabán III 1,445 Energy ExecutionAutopista del Sol: Trujillo - Sullana 1,333 Transport Execution

Tercer grupo de aeropuertos regionales 1,299 Transport PlanningMejoramiento de la Carretera Oyón –

Ambo1,248 Transport Execution

(*) Main projects: over S/ 1 Bn

Source: MEF

20

GDP,PRIVATE AND PUBLIC INVESTMENT

Source: Apoyo

Consultoría

4.0%

2.5%

4.0%

2.2%2.7%

0%

3%

6%

2016 2017 2018 2019E 2020E

GDP (Var.%)

2.60%

24.00%

3.40%

-4.30%

1.20%

-8.00%

1.50%

5%

Total Investment

Mining

Diversified investment

Infraest. for public use20192020

Total Investment by Type

-0.2%

-2.3%

6.8%

-1.5%

3.0%

-5.4%

0.2%4.2% 2.0%

0.0%

-8%

-4%

0%

4%

8%

2016 2017 2018 2019E 2020E

Public Investment Private Investment

Public and Private Investment (Var.%)

21

Total Investmentgrowing at low rate Investment Flow of main projects

PROJECT2019

(US$mm)2020E

(US$mm)

Quellaveco 1,300 1,500

Toromocho expansion 500 550

Mina Justa 900 500

Lima Metro – Line 2 350 400

Jorge Chavez Airport exp 0 150

San Martin Port 85 130

6 roads 10 10

3,145 3,240

Main Projects for 2020

MAIN PROJECTS

Source: Apoyo Consultoría

Investment Flow - Main projects

PROJECT2019

(US$mm)2020E

(US$mm)Quellaveco 1,300 1,500Toromocho expansion 500 550Mina Justa 900 500Lima Metro – Line 2 350 400Jorge Chavez Airport exp 0 150San Martin Port 85 1306 roads 10 10

3,145 3,240

22

Public Investment – Projects

PROJECT2019

(US$mm)2020E

(US$mm)Reconstruction of North Part 950 1,130Talara Refinery 900 650Panamerican Games 230 0Regular public projects 8,150 9,370

10,230 11,150

Financial

Performance

N

667583 567 621

618

62

12.5% 12.0% 11.7% 11.9% 11.6%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

0

100

200

300

400

500

600

700

800

900

1000

2015 2016 2017 2018 2019

EBITDA IFRS16 EBITDA MARGIN

FINANCIAL RESULTSMillion soles (S/ mm)

5,3334,856 4,843

5,211

5,865

24.2% 24.3% 24.1% 24.1% 21.6%10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

2015 2016 2017 2018 2019

Sales Gross margin

820 797 808 856916

15.4% 16.4% 16.7% 16.4% 15.6%0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

2015 2016 2017 2018 2019

Selling and administ expenses As a % of sales

+13%

+7%

490425 421

466 459

9.2%8.7% 8.7% 8.9% 7.8%

0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

40.00%

2015 2016 2017 2018 2019

-2%

Sales and Gross Margin SG & A Expenses

Operating Profit and Operating Margin

24

+10%

EBITDA and EBITDA Margin

680

N

FINANCIAL RESULTSMillion soles (S/ mm)

230

267

225245

4.7% 5.5% 4.3% 4.2%0.00%

5.00%

10.00%

15.00%

20.00%

25.00%

30.00%

35.00%

40.00%

2016 2017 2018 2019

Net profit Net Margin

+9%

Net Profit 2019 Net Profit and Net Margin

25

+9%

Positive variations

Negative variations

225

5923

58 66

2 11

245

0

50

100

150

200

250

300

2018 Δ EBITDA Δ Financial expenses

Δ Gain (loss) to FX

Δ D&A Δ Share of profit of

associated

Δ Income tax 2019

INVESTMENT IN ASSETSMillion soles (S/ mm)

• Common practice, 30 días para la recolección una vez que seentregue la factura al cliente.

• Inventories: components, factory delays in the supply of spareparts, mining equipment.

Accounts Receivables Inventory

26

1,080 1,0311,195 1,128

45 8026

27

2016 2017 2018 2019

Short term Long term

-5%

1,2211,125 1,111

1,155

+9%

1,2331,393

1,772

661 753897

1095

468548

788754

10492

8785

2016 2017 2018 2019

Machinery and others Parts and serv. in process Consumables

1,934

FIXED ASSETS AND CASH CYCLEMillion dollars (US$ mm)

• Intangibles: ERP SAP implementation2017: US$ 13mm2018: US$ 23mm2019: US$ 24mm

144 148156 160 163 163 161 164

71 71 71 68 67 63 64 62

55 59 57 53 53 55 52 47

128136

143 145149

155149 150

1Q'18 2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 4Q'19

Cash cycle Collection days Payable days Inventory days

CAPEX Cash cycle

27

1728

8 11

5

6

48

15

12

17

343

4

3

4

-1

-21-7

-14

2016 2017 2018 2019

Infrastructure Machinery and equipment

Rental Fleet Vehicles, furniture and equipment

Sale of fixed assets

39

29

25

43

106

125

8573

96

2.0%2.6%

1.8% 1.4% 1.6%0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

0

10

20

30

40

50

60

70

80

90

100

110

120

130

140

2015 2016 2017 2018 2019

Financial expenses As a % of sales

FINANCIAL DEBTMillion dollars (US$ mm)

Diversified funding base Debt by currency Debt Maturity

Average cost of debt Financial expenses

( S/ mm)

Adjusted Debt/ EBITDA

2.68 2.93

2.37 2.38 2.46

2.86 2.59

2.05 2.18

2.66

2.19

2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

• Adjusted debt: exclude short term debt related to inventories• Covenant < 3.5x

28

4.40% 0.50%

95.10%

PEN Quetzales USD

307 327447

620161 100

10053 75

604538

2.86 2.73 3.20 3.31

-20.00

-15.00

-10.00

-5.00

0.00

0

100

200

300

400

500

600

700

800

2016 2017 2018 2019

Banks Bonds Caterpillar IFRS16 Net debt/ EBITDA

521 502

607703

4.12%

3.67%3.43%

3.68%

2016 2017 2018 2019

+31%

390

114 78

56 26

2020 2021 2022 2023 2024

Ferreycorp in the

Capital Market

FERREYCORPIN THE CAPITAL MARKET

Shareholder Structure as of December 2019

Ferreycorp & SP/BVL PERU

Main Shareholders as of December 2019

Share Price 2017-2019 (S/)

Shareholder Share

RI-Fondo 2 (Prima AFP) 7.00%

Onyx Latin America Equity Fund LP 6.64%

IN-Fondo 3 (AFP Integra) 5.54%

IN-Fondo 2 (AFP Integra) 5.25%

PR-Fondo 2 (Profuturo AFP) 4.84%

RI-Fondo 3 (Prima AFP) 4.34%

30

Pension funds36%

Local shareholders

36%

Foreign shareholders

28%

Div Yield: 9%

1.5

1.7

1.9

2.1

2.3

2.5

2.7

Ene-17 Jun-17 Nov-17 Abr-18 Set-18 Feb-19 Jul-19 Dic-1920

50

80

110

140

170

200

Ene-17 Jun-17 Nov-17 Abr-18 Set-18 Feb-19 Jul-19 Dic-19

FERREYC1 IGBVL

DIVIDEND POLICYANNUAL COMPLIANCE

✓ In 1997, the company´s Shareholders meeting approved the dividend policy.

✓A modification was approved to assign minimum and maximum ranges. Cash dividends will amount to 5% of the capital or a ceiling equal to 60% of freely available profits.

✓The 2013 Shareholders Meeting approved to increase the upper limit from 50% to 60% of freely available profits.

✓The 2018 Shareholders Meeting modified the policy: dividends in advance.

✓The 2019 Shareholders Meeting modified the policy: extraordinary dividends.

Period:Cash dividend

(*) Payout

(% Dividend / Net Profit)

Cash dividend per share

(%)

Dividend per share

(S/.)

2003 9.1 50% 4.46% 0.0446

2004 11.9 48% 5.50% 0.055

2005 13.3 49% 5.50% 0.055

2006 28.4 36% 11.00% 0.110

2007 40.2 35% 13.20% 0.132

2008 20.7 29% 5.50% 0.055

2009 28.0 31% 6.00% 0.066

2010 31.8 26% 6.00% 0.066

2011 41.9 29% 6.00% 0.060

2012 48.1 30% 6.00% 0.060

2013 55.7 60% 5.90% 0.059

2014 60.8 52% 6.00% 0.060

2015 87.3 60% 8.87% 0.0887

2016 124.4 60% 12.8457% 0.128457

2017 132.1 55% 13.5465% 0.135465

2018121.5 60% 12.4543% 0.124543

50.0 5.1246% 0.051246

50.0 5.1246% 0.051246

(*) In million

(**) Upper Limit: 60%

31

Corporate

Governance and

Sustainability

SUSTAINABILITYSTAKEHOLDERS

✓ Ferreycorp Program for Professional Development -Ferreycorp Association

✓ Heavy Equipment Operators Club✓ Think Big Program✓ Works for taxes✓ Corporate volunteering

✓ Mutually beneficial and long-term relations.✓ Comprehensive solutions for their business.✓ Varied portfolio of high quality products and services.✓ Constant monitoring of customer satisfaction.✓ Respect for customers´privacy.✓ Training customers.

✓ Ferreycorp is a member of the United Nations GlobalCompact Network

✓ Every year, the Corporation published a Progress Reportabout actions implemented consistently with subjectsincluded in the ten principles of the UN Compact Network

✓ Hiring policy: transparency, equitable treatment.✓ Select suppliers based on: quality of product or service, price,

delivery terms, human resources policies and practices,occupational health and safety programs.

✓ Formalization and development of local suppliers

Community

Customers

Government and Society

Suppliers

Environment

Employees

Shareholders

✓ Standard Environmental Management System based onthe ISO 14001 standard

✓ Comprehensive Policy on Health, Safety and theEnvironment

✓ Environmental Management Programs: planning, trainingand awareness, operational control and verification.

✓ Health, safety and working conditions✓ Professional and personal development✓ Diversity and inclusion✓ Relations with the unions✓ Social activities

✓ Principles of Good Corporate Governance✓ Respect of Shareholders’ rights✓ Transparent and timely reporting✓ Highly qualified Board of Directors that represents all of

the shareholders

33

CORPORATE STANDARDSSTRONG CORPORATE GOVERNANCE

• Ferreycorp (FERREYC1) is listed in the Lima Stock Exchange since 1962.• Ferreycorp is included in the Corporate Governance Index of the Lima

Stock Exchange since its launch in 2008.

Board of Directors:• The last General Shareholders Annual Meeting agreed to reduce the

board members from 10 to 9 members.

• The Board of Directors of Ferreycorp is complemented by threecommittees: LEAD BY INDEPENDENT DIRECTORS✓ Nominations, Remuneration, Corporate Governance and

Sustainability Committee✓ Audit and Risk Committee✓ Innovation and Systems Committee

Composition of the Board:Independent Directors Dependent Directors✓ Jorge Ganoza Oscar Espinosa✓ Humberto Nadal Carlos Ferreyros✓ Gustavo Noriega Juan Manuel Peña✓ Javier Otero Andreas von Wedemeyer

Manuel Bustamante

Recognitions• Key of the Lima Stock Exchange: 2008, 2011, 2012, 2013, 2017, 2018 and

2019.• Member of the Companies Circle of the Latin America launched by OECD

and IFC• International recognitions: World Finance Award 2011 and 2012; Latin

America Investor Relations Awards 2011 (LirA’11), Ethical BoardroomCorporate Governance Awards 2015: South America, Industrial servicessector, Dow Jones Sustainability Index (2018, 2019)

34

Contact information:Patricia Gastelumendi: [email protected] Tamayo: [email protected]

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