presentación de powerpoint - ferreycorp...majes siguas ii us$ 550mm muelle norte us$ 320mm muelle...
TRANSCRIPT
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Corporate PresentationMay 2020
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Ferreycorp and
Strategy
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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 (Feb-2020) ~ $600MM• Shareholders +2,500
Pension funds36%
Local shareholders
38%
Foreign shareholders
26%
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 March 2020(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.
859 115 206
73% 10% 17%
92 17 14
75% 14% 11%
11% 15% 11%
4,819 754 1,229
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
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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
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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
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Fundamental
of the Business
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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 1Q'19 1Q'20
-
US$1.9Bn US$
1.7BnUS$
1.6BnUS$
1.4Bn
US$1.4Bn
US$1.5Bn
US$ MM
US$1.8 Bn
Sales by Business Lines
US$403MM
US$346MM
34%
50%
9%7%
Machinery
Spare parts andservices
Rental and used
Others
-
SALES BY GROUP OF COMPANIES(In S/ mm)
Other subsidiaries in Perú and abroad
CAT dealers and other businesses in CA
CAT dealers and allied brands in Perú
Sales by group of companies
25.0% 25.0% 25.0% 25.0% 25.0%0.0%
20.0%
40.0%
60.0%
80.0%
100.0%
120.0%
140.0%
Q2'19 Q3'19 Q4'19 Q1'19 Q1'20Gross margin
+ 9% - 3%
26.0% 25.0% 22.0%27.0% 26.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
Q2'19 Q3'19 Q4'19 Q1'19 Q1'20
Gross margin
-13%+10%
20.0% 20.0% 18.0% 19.0% 20%0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
Q2'19 Q3'19 Q4'19 Q1'19 Q1'20
Gross margin
- 12%+31%
11
77% 79% 75% 74% 73%
8% 6% 7% 9% 10%
15% 14% 18% 17% 17%
Q2'19 Q3'19 Q4'19 Q1'19 Q1'20Cat dealers and allied brands in Peru Cat dealers and other businesses in CAOther subsidiaries in Peru and abroad
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In unitsRolling 12 mo, Mar 2020
US$ FOB Rolling 12 mo, Mar 2020
US$ FOB Rolling 12 mo, Mar 2020
US$ FOB Rolling 12 mo, Mar 2020
CATERPILLAR56%
JOHN DEERE11%
KOMATSU9%
VOLVO2%
CASE3%
BOBCAT4%
WACKER NEUSON
2%
HYUNDAI3%
MANITOU2%
DOOSAN1%
OTROS7%
General construction
Heavy construction
Underground mining
Open pit mining
12
CATERPILLARMARKET SHARE IN PERU
CATERPILLAR58%
KOMATSU34%
HITACHI1%
EPIROC5%
LETORNEAU1%
SANDVIK1%
CATERPILLAR73%
SANDVIK14%
EPIROC12%
XWD1%
CATERPILLAR54%
KOMATSU19%
VOLVO10%
JOHN DEERE7%
HYUNDAI2%
BOMAG2%
XCMG1%
DOOSAN3% SEM
1%
OTROS1%
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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 SP&S 4Q'19P Sale mining equipment
Sale Mining equipment 4Q'19P Mining investment
MINING INVESTMENTMINING MACHINERY, SPARE PARTS AND SERVICES
13
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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
$10
199
5
199
6
199
7
199
8
199
9
200
0
200
1
200
2
200
3
200
4
200
5
200
6
200
7
200
8
200
9
201
0
201
1
201
2
201
3
201
4
201
5
201
6
201
7
201
8
201
9
0
100
200
300
400
500
600
700
Unidades entregadas camiones y palas Inversión MineraMining trucks and shovels population Mining investment
14
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MINING PROJECTS PORTFOLIOUS$ 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
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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
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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
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MAIN INFRASTRUCTURE PROJECTSUNDER CONSTRUCTION
Source: Apoyo Consultoría
INFRASTRUCTURE PROJECTS UNDER CONSTRUCTION
PROJECTTOTAL INVESTMENT
(US$ mm)2019
(US$mm)2020
(US$mm)
Linea 2 del Metro 5,350 400 400Jorge Chavez Airport exp. 1,500 0 150San Martín Port 260 120 130Salaverry Port 230 20 20First group of regional airports (Chiclayo and Piura)
400 20 40
7,740 560 740
✓ Projects for more tan US$ 3billion already awarded butpending to be executed (Public-Private partnerships)
Delays in land expropriation
Autopista del sol US$ 230mmAutopista del US$ 200mmNorteLongitudinal US$ 90mmde la Sierra T2Red Vial 6 US$ 180mm
Addendum approval
Majes Siguas II US$ 550mmMuelle Norte US$ 320mmMuelle Sur US$ 220mmVias Nuevas de US$ 200 mmLima
Project redefinition
Gaseoducto US$ 4,600mmSur PeruanAeropuerto US$ 584mmChincheroChavimocIII US$ 440mm
✓ Projects to be awarded by Proinversión (2019-2021):
3280
1830
1280
415
350
200
Transport
Water and sanit
Health and educ
Energy
Mining
Hydrocarbons
4
15
13
9
1
1
N° Projects
Total: US$7,355 mm 43
US$ mm MAIN PROJECTS TO BE AWARDED BY PROINVERSION IN 2020
PROJECTTOTAL INVESTMENT
(US$ mm)Award date
Anillo Vial Periférico 2,050 2S 2020Obras de cabecera 720 2S 2020Puerto Marcona 540 1S 2020Longitudinal de la Sierra Tramo 4 465 1S 2020
Ferrocarril Huancayo- Huancavelica 230 2S 2019US$ 4,005 mm
20
-
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
4,950 Transport Execution
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
2,432 Transport Execution
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)
2,292 Transport Execution
Ampliación del Terminal de Contenedores Muelle Sur - Callao - DP World Callao
2,102 Transport Execution
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
21
-
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.%)
22
Total Investmentgrowing at low rate Investment Flow of main projects
PROJECT2019
(US$mm)2020E
(US$mm)
Quellaveco 1,300 1,500
Toromocho expansion 500 550
Mina Justa 900 500
Lima Metro – Line 2 350 400
Jorge Chavez Airport exp 0 150
San Martin Port 85 130
6 roads 10 10
3,145 3,240
Main Projects for 2020
-
MAIN PROJECTS
Source: Apoyo Consultoría
Investment Flow of main projects
PROJECT2019
(US$mm)2020E
(US$mm)Quellaveco 1,300 1,500Toromocho expansion 500 550Mina Justa 900 500Lima Metro – Line 2 350 400Jorge Chavez Airport exp 0 150San Martin Port 85 1306 roads 10 10
3,145 3,240
23
Public Works Exectution
PROJECT2019
(US$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
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Financial
Performance
-
N
567621 680
183128
11.7% 11.9% 11.6%13.6%
10.8%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
0
100
200
300
400
500
600
700
800
900
1,000
2017 2018 2019 1Q'19 1Q'20
EBITDA EBITDA MARGIN
FINANCIAL RESULTSMillion soles (S/ mm)
4,8435,211
1,341 1,179
24.1% 24.1% 23.5% 25.2% 21.6%10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
2017 2018 2019 1Q'19 1Q'20
Sales Gross margin
- 12% 808 856916
216 219
16.7% 16.4% 15.6% 16.10% 18.60%0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
60.0%
70.0%
80.0%
90.0%
100.0%
2017 2018 2019 1Q'19 1Q'20
Selling and administ expenses As a % of sales
+1%
+13%
+7%
421466 459
12777
8.7%8.9% 7.8%
9.5%6.5%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
2017 2018 2019 1Q'19 1Q'20
- 39%
- 2%
Sales and Gross Margin SG & A Expenses
Operating Profit and Operating Margin
25
- 30%
+10%
5,865
EBITDA and EBITDA Margin
-
N
FINANCIAL RESULTSMillion soles (S/ mm)
267
225245
92
-21
5.5% 4.3% 4.2% 6.9%
-1.8% -5.00%
0.00%
5.00%
10.00%
15.00%
20.00%
25.00%
30.00%
35.00%
40.00%
-50
0
50
100
150
200
250
300
2017 2018 2019 1Q'19 1Q'20
- 123%
Net Profit 1Q’20
26
Positive variations
Negative variations
92
-104
55
1
4-1
42
-21
-80
-60
-40
-20
0
20
40
60
80
100
120
Q1'19 Δ EBITDA Δ Financial exp
Δ Gain(loss) to FX
Δ D&A Δ Share of profit of
associated
Δ Income tax
1Q'20
Net Profit and Net Margin
-
N
EBITDAMillion soles (S/ mm)
EBITDA 1Q’20
27
Positive Variations Negative Variations
183162
118
3 3 4 1
128
13.60%
10.8%
-2.00%
3.00%
8.00%
13.00%
18.00%
0
50
100
150
200
250
1Q'19 Δ Sales Δ COGS Δ SG&A Δ Other income (expenses)
Δ D&A Δ Financial income
1Q'20
- 30%
-
INVESTMENT IN ASSETSMillion soles (S/ mm)
• Common practice, 30 días para la recolección una vez que seentregue la factura al cliente.
Accounts Receivables Inventory
28
1,0311,195 1,128 1,098
932
8026
27 28
30
2017 2018 2019 1Q'19 1Q'20
Short term Long term
- 15%
1,221
9621,111 1,155
+6%
1,972
1,393
1,772
753 8971095 975 1137
548
788754
794761
92
8785 83
74
2017 2018 2019 1Q'19 1Q'20
Machinery and others Parts and serv. in process Consumables
1,9341,852
1,126
-
FIXED ASSETS AND CASH CYCLEMillion dollars (US$ mm)
• Intangibles: ERP SAP implementation2017: US$ 13mm2018: US$ 23mm2019: US$ 24mm2020: US$ 4mm
148 156 160 163 163 161 165
71 71 68 67 63 64 6256
59 57 53 53 55 52 48 47
136143 145
149155
149 150159
2Q'18 3Q'18 4Q'18 1Q'19 2Q'19 3Q'19 4Q'19 1Q'20
Cash cycle Collection days Payable days Inventory days
CAPEX Cash cycle
29
28
8 11 3
6
48
2
12
17
34
12
4
3
4
0.5
-21-7
-14 -10
2017 2018 2019 As of Mar 20
Infrastructure Machinery and equipment
Rental Fleet Vehicles, furniture and equipment
Sale of fixed assets
29
25
43
7
169
-
FINANCIAL DEBTMillion dollars (US$ mm)
Diversified funding base Debt by currency Debt Maturity
Average cost of debt Financial expenses
( S/ mm)
Adjusted Debt/ EBITDA
2.93
2.37 2.38 2.46
2.86 2.59
2.05 2.18 2.66
2.19 2.39
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 1Q'20
• Adjusted debt: exclude short term debt related to inventories• Covenant < 3.5x
30
4.12%
3.67%3.43%
3.68%
3.19%
2016 2017 2018 2019 As of Mar20
8573
96
23 22
1.8%1.4% 1.6%
1.7% 1.9%0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
0
10
20
30
40
50
60
70
80
90
100
110
120
130
140
2017 2018 2019 1Q'19 1Q'20
Financial expenses As a % of sales
- 4%
+31%
96.1%
3.5% 0.2%0.2%
USD PEN GFQ CLP
366
152
8559
341
2020 2021 2022 2023 2024 2025
327447
620 64175
60
45 55
100
100
38 34
2.73 3.20 3.31 3.43
-20.00
-15.00
-10.00
-5.00
0.00
0
100
200
300
400
500
600
700
800
2017 2018 2019 As of Mar'20
Banks Caterpillar Bonds IFRS16 Net debt/ EBITDA
502
607
703 730
-
Ferreycorp in the
Capital Market
-
FERREYCORPIN THE CAPITAL MARKET
Shareholder Structure as of March 2020
Ferreycorp & SP/BVL PERU
Main Shareholders as of March 2020
Share Price 2018-2020 (S/)
Shareholder Share
RI-Fondo 2 (Prima AFP) 7.00%
Onyx Latin America Equity Fund LP 6.68%
IN-Fondo 3 (AFP Integra) 5.39%
IN-Fondo 2 (AFP Integra) 5.25%
PR-Fondo 2 (Profuturo AFP) 4.84%
Interseguro Compañía de Seguros 4.35%
RI-Fondo 3 (Prima AFP) 4.33%
32
Pension funds36%
Local shareholders
38%
Foreign shareholders
26%
1.0
1.5
2.0
2.5
3.0
Ene-
18
Feb
-18
Mar
-18
Ab
r-1
8
May
-18
Jun
-18
Jul-
18
Ago
-18
Set-
18
Oct
-18
No
v-1
8
Dic
-18
Ene-
19
Feb
-19
Mar
-19
Ab
r-1
9
May
-19
Jun
-19
Jul-
19
Ago
-19
Set-
19
Oct
-19
No
v-1
9
Dic
-19
Ene-
20
Feb
-20
Mar
-20
0
20
40
60
80
100
120
Ene-
18
Feb
-18
Mar
-18
Ab
r-1
8
May
-18
Jun
-18
Jul-
18
Ago
-18
Set-
18
Oct
-18
No
v-1
8
Dic
-18
Ene-
19
Feb
-19
Mar
-19
Ab
r-1
9
May
-19
Jun
-19
Jul-
19
Ago
-19
Set-
19
Oct
-19
No
v-1
9
Dic
-19
Ene-
20
Feb
-20
Mar
-20
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%
33
-
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
35
-
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)
36
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Contact information:Patricia Gastelumendi: [email protected] Tamayo: [email protected]