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Investor Presentaiton

October 12, 2021 VITROMEX: THE ROAD TOWARDS A STABLE AND PROFITABLE OPERATION GBM A failed attempt and execution to redesign the Vitromex brand coupled with a strategy addressed to larger and premium formats, missing the focus on its best value proposition across Mexico, ended up affecting the business as a whole and drove it to report operating losses. Consequently, GISSA's board of directors decided to change the company's management, which in turn outlined a strategy to reincorporate technical talent, rationalize operations, and go back to basics. This operational turnaround has proven successful, taking profitability to historical levels in 2021 (~12% EBITDA Mg.). As a result, GISSA's management thinks there is room for further improvement and believes the margin could stabilize at a 14-18% range in the future. To us, the company's challenge remains to demonstrate the operation can run smoothly and profitably in the long term. If they succeed, Vitromex's strong cash-generating profile would allow for additional organic growth and gain more relevance within GISSA. Process: 2018 2019 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Reincorporation of Technical and Managerial Talent Phase I Recover Key Customer Trust Product Portfolio Rationalization Capacity Rationalization Product Renewal and Launch of Vitroker S&OP Implementation - Customer Service Inventory Rationalization Operational Discipline and Rightsizing Source: Company data Focus on Best Value Products Showroom Update 50% Product Portfolio Reduction Design and Development Phase II Cost Reduction Focus Modular Showrooms 2020 2021 22 Q2 Q3 Q4 Q1 LAMOSA/CERAMIC: THE ROAD TO GROWTH IS PAVED WITH TILES. | 55
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