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February 2017
Group overview
February 2017 2
Founded in 1959 and fully owned by the Marcegaglia family, the group is headquartered in Gazoldo degli Ippoliti, Mantova.Focusing on downstream processing within its extended value chain, Marcegaglia develops the world’s widest range of customer tailored steel semi-products and finished goods.
The Marcegaglia business model relies on:• a combination of high flexibility and economy of scale• high diversification of products/markets/industry segments• capillary network in sale, international network in purchasing.
Steno Marcegaglia, Founder (1930-2013)
Antonio Marcegaglia Chairman Chief Executive Officer
Emma Marcegaglia Vice ChairmanChief Executive Officer
GROUP OVERVIEW February 2017 3
Marcegaglia at a glance
MARCEGAGLIA TODAY • 5,6 million ton processed yearly (2016)
• 4,1 billion euro sales (2016)
• 6,500 employees
• 1st product range in the world,
in terms of width and variety
• 43 plants, 60 sales offices
210 representatives
• 15,000 customers
• 6,000,000 sqm manufacturing areas
OTHERS*
* Others include metal solution for building industry, components for the Appliances Industry, Tourism and Real Estate
10%
90% STEEL
GROUP OVERVIEW February 2017 4
Marcegaglia at a glanceWORLDWIDE PRESENCE
Garuva
Düsseldorf
Lyon
Barcelona
Dudley
Kluczbork
Yangzhou
Pune
PraszkaBremen
Gazoldo degli IppolitiHEADQUARTERS
Tezze sul Brenta
Albignasego
Ravenna
Corsico
Osteria Grande
Casalmaggiore
Lomagna
Boltiere
Gazoldo degli Ippoliti
Lainate
Dusino San MicheleContino
Gazoldo degli Ippoliti
Gazoldo degli Ippoliti
Forlì
Outsourcing inox
Vladimir
Istanbul
San Giorgio di Nogaro
GROUP OVERVIEW February 2017 5
Marcegaglia key features
• Ownership 100% Marcegaglia family
• Strong company values
• Focus on quality, service, innovation
• Obsession with growth, constant and self-financed throughout 50 years
• Strong market presence (more than 15,000 customers)
• Wide range of products
• High diversification of markets
• Economies of scale + production flexibility
• Unique strategic positioning
GROUP OVERVIEW February 2017 6
Marcegaglia key features
OBSESSION FOR GROWTH
Turnover Production
2002 2003 2004 20072005 2008 20112006 2009 20122010 2013 2014 2015 2016
Recovery from crisis lows = +62% (year 2014 vs 2009)
5.000.000
4.500.000
2.500.000
3.500.000
1.500.000
500.000
4.000.000
2.000.000
3.000.000
1.000.000
0
1.694.8172.603.361
3.460.2324.244.885
1.987.5472.699.332
3.939.4072.526.612
3.821.8744.320.825
4.190.0004.127.000
4.090.0004.100.000
4.100.000
euro/000
Compound annual growth rate = ~8.2% (year 2002-2014)
YEAR
TONS
0
5.000.000
6.000.000
7.000.000
8.000.000
4.000.000
3.000.000
2.000.000
1.000.000
1000
1959
350.000
1980
1.100.000
1990
2.650.000
2000
2.985.000
2002
3.510.000
2004
4.500.000
2006
5.300.000
2008
4.600.000
2010 2012
5.100.0005.300.000
5.600.0005.400.000
5.000.000
2013 2014 20162015
GROUP OVERVIEW February 2017 7
Marcegaglia: Unique Strategic Positioning
Step Description Activities Output
Steel production, via either:• Blast furnace - using iron mineral and carbon• Electric furnace - using “re-melt” scrap steel
• Iron making • Steel making• Casting• Hot rolling
• Coils• Heavy plates• Bars• Sheets
Marcegaglia Group
Crude products are chemically and/or mechanically processed to make them suitable for specific industrial purposes
• Pickling• Cold Rolling• Galvanising• Pre-painting
• Galvanised, pickled, cold rolled and pre-painted coils
Advanced processing to customise steel products on clients specific request
• Tube forming and welding• Cutting and slitting• Stamping
• Strips• Drawn Bars• Tubes
Direct selling and/or retailing to industrial clients or further processing under request
• Finishing • Distribution
• Coils, strips, drawn bars, tubes in standard format
Horizontal integration - Widest range of products in the world
Ver
tica
l int
egra
tio
n -
Full
cove
rag
e o
f ke
y tr
ansf
orm
atio
n st
eps
Steel Production
First Transformation
Second Transformation
Distribution
End Users
Leveraging on a business model focused on steel processing, Marcegaglia can pass through raw material price fluctuations and maintain highly stable margins throughout the cycle
GROUP OVERVIEW February 2017 8
The Group structureThe Group has reorganized its activities by clearly separating the core business (steel) from the diversified activities and creating three different Newcos within the Steel (Marcegaglia Carbon Steel, Marcegaglia Specialties and Marcegaglia Plates) to better pursue dedicated growth opportunities in each segment.
MARCEGAGLIASTEEL
MARCEGAGLIA HOLDING
MARCEGAGLIASPECIALTIES
MARCEGAGLIACARBON STEEL
MARCEGAGLIAINVESTMENTS
MARCEGAGLIAPLATES
FIN. MAR. MARFIN Staff Corporate
1 PLANT ITALY
1 PLANT ITALY
San Giorgio di Nogaro2 PLANTS ITALY
3 WAREHOUSES ITALY
Mariven
MARCEGAGLIA TURKEY
MARCEGAGLIA RU
FLAT PRODUCTS
4 PLANTS ITALY3 PLANTS ITALY
WELDED TUBES STAINLESS STEELPRODUCTS
HEAVYPLATES
COLD-DRAWNBARS
HEADQUARTERS GAZOLDO DEGLI IPPOLITIHEADQUARTERS GAZOLDO DEGLI IPPOLITI
MARCEGAGLIA CHINA
MARCEGAGLIA DO BRASIL
MARCEGAGLIA POLAND
PLA
NTS
& S
ALE
S O
FFIC
ES
PLA
NTS &
SA
LES O
FFIC
ES
MARCEGAGLIA UK
MARCEGAGLIA BENELUX
MARCEGAGLIA DEUTSCHLAND
MARCEGAGLIA FRANCE
MARCEGAGLIA IBERICA
MARCEGAGLIA INDIA
MARCEGAGLIA NORTH EUROPE
SALE
S O
FFIC
ES
Consorzio Absolute
Metal Interconnector
Fontana
SIM
Consorzio ABSOLUTEOTH
ER
S PA
RTI
CIP
ATI
ON
S
Marcegaglia Buildtech
M. Gulf Italia M. Gulf Qatar
M. Romania
San Michele
Dalmine LS
Others particip.
Others particip.
Others particip.
Others particip.
Building
Home Products
Energy
Oskar
Imat
ETA
CO.GE.AM
Engineering
Elet.Ca
Made HSE
Gaia Turismo
Tourism & Real estate
Albarella
Palazzo Agricoltura
Gabetti Property Solution
Others participations
EuroEnergy Group
GROUP OVERVIEW February 2017 9
Marcegaglia flat capacities summary
CARBON STEEL STAINLESS STEEL
capacity n. of lines
Pickled and Oiled 3.500 3
Cold rolled 2.500 8
Annealing/Skinpass 1.200 75
Hot Dip Galvanized 1.800 4
Pre-painted 570 2
Service center 2.500 5 (plants)
Heavy plates 400 1
Tubes and pipes 3.000 ~100
capacity n. of lines
A/P lines (HR/CR) 500-300 2
Cold rolled 250 2
Tubes and pipes 500 ~100
k ton/y k ton/y
GROUP OVERVIEW February 2017 10
Marcegaglia key features
GLOBAL FIGURES 2014-2016
2014 2015 2016
Total Steel 5.300 5.400 5.600
Carbon Steel Flat Products 2.500 2.550 2.800
Carbon Steel Welded Tubes 1.500 1.550 1.400
Carbon Steel Heavy Plates 350 350 350
Stainless Steel Products 380 400 450
Carbon Steel Drawn Bars 200 200 200
Others 370 350 400
k ton
GROUP OVERVIEW February 2017 11
The growth guidelines
MORE VOLUME, WITH FOCUS ON SPECIALITIES
Carbon Steel Products
• Semi-processed Silicon Steel• Dual Phase Grades• High Strength Steels• Pre-painted Steels• Galvanized Steels• ERW Carbon Steel Precision Tubes• Cold-Drawn Tubes as replacement for Seamless Tubes• Specialty Quarto Plate for end-users
GROUP OVERVIEW February 2017 12
The growth guidelines
Stainless Steel Products
• FOCUS ON PROJECTS/END USERS
• AUTOMOTIVE TUBES growing presence in the automotive market in countries with high growth potential
• PROCESS PIPES - Heat Exchangers - Feedwater Heaters - Power Plant Evaporators - Boiler Tubes - Press Fitting - Thin Wall Small Tubes in Ferritic - Duplex and Exotic Grades
MORE VOLUME, WITH FOCUS ON SPECIALITIES
GROUP OVERVIEW February 2017 13
The growth guidelines
MORE INVESTMENTS, WITH WIDER INTERNATIONAL PRESENCE
Total
3.765 million euro
Produced abroad
8%
TURNOVER 2010
Total
4.1 million euro
Produced abroad
12%
TURNOVER 2014
INVESTMENTS ABROAD
up to 2008: 200 million euro
New 2009-2014: 460 million euro
Total invest. abroad: 660 million euro
Garuva, Brazil60 million euro
Munhall, Usa10 million euro
Kluczbork, Poland150 million euro
Corlu, Turkey10 million euro
Vladimir, Russia40 million euro
Yangzhou, China180 million euro
Dudley, UK10 million euro
GAZOLDO DEGLI IPPOLITI (ITALY) • HEADQUARTERS AND PLANT
RAVENNA (ITALY) PLANT
via Bresciani, 16 • 46040 Gazoldo Ippoliti, Mantova - Italy
www.marcegaglia.com
