ARISTON GROUP
INVESTOR
PRESENTATION
November 28th, 2023
TABLE OF CONTENTS
- ARISTON GROUP OVERVIEW
- DESCRIPTION OF THE GROUP
- SUSTAINABILITY
- FINANCIAL PERFORMANCE
-
OUTLOOK FOR 2023 AND MID TERM GUIDANCE
APPENDIX
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1. ARISTON GROUP OVERVIEW
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A €3.1B REVENUES GROUP, WITH A GLOBAL PRESENCE
2022 pro-forma
€3.1B REVENUES
PRO-FORMA1
44 : 56
PROPORTION OF RENEWABLE VS. FOSSIL FUEL PRODUCTS IN EUROPE (TARGET: 60 : 40 IN 2025)
2022 pro-forma
€286M ADJ. EBIT
PRO-FORMA1
AND 9.3%1 MARGIN
#28
PRODUCTION SITES AND
#30 R&D CENTERS1
43
COUNTRIES OF DIRECT PRESENCE AND 150+ COUNTRIES SERVED
#18
LARGE M&A AND BOLT ON ACQUISITIONS SINCE 2014
Note: figures adjusted for non recurring events or transactions, restructuring or employment termination agreements, other events not representative of normal business | 4 |
operations. 1Pro-forma figures including Wolf-Brink, consolidated from January 2, 2023. | |
A GLOBAL COMPANY WITH STRONG LOCAL ROOTS
Aristide Merloni founds the Industrie Merloni in the Marche Region, in Italy, starting the production of weighing scales.
In the Eighties, the company enters the heating sector and sets up up subsidiaries in Eastern Europe and Asia. In the Nineties, it acquires Racold, the largest water heating company in India, and opens its first factory in China.
In 2011, the company confirms its leadership in Switzerland by acquiring Cipag SA and Domotec AG. In 2013, it finalises the acquisition of DhE, an Italian leader in heating components.
The company acquires NTI, among the leaders in the condensing boiler segment in Canada and USA. In the same year, historical Arcevia and Osimo plants win the World Class Manufacturing bronze medal.
The company reaches an agreement with Whirlpool for the reindustrialisation of the Albacina site, to establish a competence centre for renewaables. Brand wise, the Company launches "The Ariston Comfort Challenge", the first Ariston global campaign.
The company celebrates the 90th Anniversary since its foundation.
The company finalizes the acquisition of Chromagen, a leading Israeli water heating player with solid footprint in Australia.
In the Sixties the company starts the production of gas cylinders and electric water heaters. In the Seventies, a period of intense growth, it creates the Ariston brand.
The company pursues a remarkable growth by acquiring historical companies and brands such as Chaffoteaux, ELCO, Cuenod and Ecoflam.
In 2014 the company acquires ATAG, a Dutch high-end brand in the heating industry, and South African water heating player Heat Tech Geysers. In the same year, it inaugurates a new plant in Vietnam. In 2015 it opens a new branch in Indonesia and debuts on the Danish market with the acquisition of Gastech-Energi A/S.
The company establishes a R&D centre dedicated to renewable and high-efficiency solutions nearby the Milan headquarters, in Italy. Investments continue with the acquisition of HTP, a well-established brand on the US, and of Atmor, an Israeli water heating company.
The company signs an agreement of Calorex, a leading company in Mexico that is the authorized licensee of the American Standard brand in the USA. In the same year, its Italian plant in Cerreto D'Esi, receives the World Class Manufacturing (WCM) bronze medal.
The company changes its name to Ariston Group. In the same year, it signs an agreement for the acquisition of Chromagen. It is again in 2021 that Ariston Group lists on Euronext Milan.
2023
The company finalizes the acquisition of CENTROTEC Climate Systems*, pioneer of new-generation high- efficiency heat pumps, successfully operating in domestic ventilation and air- handling and with a solid positioning in Europe.
*CENTROTEC Climate Systems now called Wolf-Brink | 5 |
SHAREHOLDING AND SIMPLIFIED ORGANIZATION CHART
MERLONI HOLDING
SPA
Voting rights% | 58.4% | 73.6% |
AMARANTA SRL
8.0% | 18.6% |
OTHERS / MARKET
33.5% | 7.8% |
TREASURY SHARES
0.2% | - |
Merloni Holding S.p.A. and Amaranta S.r.l. hold respectively 198M and 27M multiple voting shares 1
Ariston Holding NV is listed on Euronext Milan
Stock Exchange since November 2021
ARISTON HOLDING
N.V.
SUBSIDIARIES
SUBSIDIARIES
SUBSIDIARIES
Market Capitalization (29/09/2023): € 2.3B
Stock price (29/09/2023): €6.17
HIGHLY COMMITTED ANCHOR FAMILY SHAREHOLDER
Sums may not add up exactly to 100% due to rounding. Data as of September 29, 2023. | 6 |
1 Multiple voting shares are entitled to 20 votes each | |
EXPERIENCED TEAM WITH TRACK RECORD IN DELIVERING GROWTH AND PROFITABILITY
PAOLO MERLONI | MAURIZIO BRUSADELLI | UMBERTO G. CROVELLA | CARLO ANDREATINI | PIERLUIGI ASTORINO | SABRINA BAGGIONI | |||||
EXECUTIVE CHAIRMAN | CHIEF EXECUTIVE OFFICER | SENIOR EXECUTIVE VP THERMAL COMFORT | EXECUTIVE VP AMERICAS AND EUROPE | CHIEF OPERATING OFFICER | CHIEF DIGITAL AND MARKETING OFFICER |
18 EXPERIENCED
TEAM MEMBERS
MARCO CONTI | GIULIANO CONTICINI | COSIMO CORSINI | STEFANO DEMATTÈ | RICCARDO GINI | THOMAS KNEIP |
EXECUTIVE VP COMPONENTS DIVISION | EXECUTIVE VP BURNERS DIVISION | CSO AND EXECUTIVE VP ASIA & MEAR | EXECUTIVE VP HEATING BU | CHIEF FINANCIAL OFFICER | EXECUTIVE VP OF WOLF-BRINK |
LUCA MEZZOPERA | GABRIELE MONTESI | VITO SARACINO | GIORGIO SCALONI | PATRIZIA VALSESIA | GERDEWAN JACOBS | |||||
CHIEF QUALITY AND PARTS & SERVICES OFFICER | EXECUTIVE VP ELCO AND ATAG | CHIEF BUSINESS DEVELOPMENT OFFICER | EXECUTIVE VP WATER HEATING BU | CHIEF PEOPLE OFFICER | EXECUTIVE VP HEATING BU |
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3 GLOBAL STRATEGIC BRANDS
STRATEGIC GLOBAL BRANDS
Global expert in heating and water heating, offering a wide range of renewable and energy efficient solutions to provide sustainable comfort to every home.
European heating solutions provider, offering excellent products, tailored systems and first- class service through the entire customers' journey and solution lifecycle.
German heating specialist, providing the indoor climate solution customers need out of a comprehensive portfolio from heating to air handling, pioneer in heat pumps with natural refrigerants.
STRATEGIC REGIONAL BRANDS | BURNERS & COMPONENTS | |
Water heating | Heating | Ventilation |
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2. DESCRIPTION OF THE GROUP
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KEY PILLARS OF ARISTON STRATEGY
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CHAMPION OF | UNIQUELY BALANCED | GLOBAL FOOTPRINT OF | PROFITABLE GROWTH |
SUSTAINABLE | COMMITMENT TO | 40+ MARKETS | COMBINING STEADY |
COMFORT ACROSS ALL | BOTH HOT WATER | SUPPORTED BY AN | ORGANIC EXPANSION |
STAGES OF THE | AND HEATING | INTEGRATED AND AGILE | WITH PROVEN M&A |
ENERGY TRANSITION | INDUSTRIAL BACK-END | TRACK RECORD |
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Disclaimer
Ariston Holding NV published this content on 28 November 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 November 2023 16:56:31 UTC.