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I N V E S T M E N T O P P O R T U N I T Y

F O R I G R O U P

I N T E R N AT I O N A L A U TO M OT I V E , C A B L E A N D H O M E A P P L I A N C E I N D U S T R Y S U P P L I E R

M A R C H 2 0 1 9

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F O R I G R O U P I N T E R N AT I O N A L A U TO M OT I V E , C A B L E A N D H O M E

A P P L I A N C E I N D U S T R Y S U P P L I E R

The Group offers the following key investment opportuniti-es:

1. The group has a diverse product range segmented in several divisions/programmes: automotive program-me, technical textile division, cable programme, me-tal&plastic division and toolshop.

2. Group offers integrated solutions from design to assembly of components/products;

3. TT Okroglica d.d and Fori d.o.o. are Group’s core pro-duction facilities in Slovenia

4. Fori Group’s largest business unit is TT Okroglica d.d. one of the leading manufacturers of technical textile and cable tapes in Europe;

5. Fori d.o.o. plant in Velenje provides metal processing; cutting, bending, forming, welding, brushing and final phase assembly of metal and plastics components;

I N V E S T M E N T O P P O R T U N I T Y

I N V E S T M E N T O P P O R T U N I T Y

O W N E R S H I P

Source: GVIN, records per 18.03.2019

F I N A N C I A L D E B T S T R U C T U R E

Source: BAMC records per 31.12.2018 Note: Consolidated financial debt (TT Okroglica d.d., Fori d.o.o., Fori Skupina d.o.o., Elvel d.o.o., Emo-Tech d.o.o)

With the transfer of assets in 2014 from Slovenian banks, the Bank Asset Management Company (“BAMC”) became a creditor of the companies TT Okroglica d.d., Fori d.o.o., Fori Skupina d.o.o., Elvel d.o.o., Emo-Tech d.o.o. (“ from here on Fori Group”), a highly acclaimed international diversified group. At this point, BAMC is considering disposing of its collateralized loan exposure in the companies in the total amount of 18,1 million EUR (as of 28.02.2019).

TT Okroglica d. d. Ownership in %

Fori Skupina d.o.o. 80,60

Forštner Martin 17,59

Others 1,81

100,00

Fori d. o. o. Ownership in %

Fori Skupina d.o.o. 73,00 Mitja Forštner 20,00 NTU d.d. 7,00

100,00

BAMC78%

Others22%

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Cables Technical textiles Metal&Plastic

FORI Group is a group, integrating several companies and business systems (production, trade and engineering):

TT Okroglica, Fori, Fori Skupina, Elvel, Emo-Tech, Slo-venia

Fori Textile SER, Fori Products SER, Serbia

Sinositec, China

For RUS, Russia

Sales by customers segment:

Automotive industry 57%

Cable industry 25%

Plastic&white goods 15%

Other 3%

G R O U P P R O F I L E

A brief overview of the products and services is given below:

Automotive programme:

Technical textiles,

Metals,

Plastics,

Toolmaking.

Technical textile division:

Development and production of technical textiles for automotive industry (seat covers, headrests, armrests, door panels, floors…),

Sewing.

Metal & plastic division:

Metal pressing,

Plastic injection moulding,

Assembling.

Cable programme:

Water-blocking barriers, separation tapes, bedding tapes, binding tapes, semi-conductive tapes and heat-barrier tapes.

Toolshop:

Design and production of shaping tools.

P R O D U C T S A N D S E R V I C E S

I N V E S T M E N T O P P O R T U N I T Y

F O R I G R O U P I N T E R N AT I O N A L A U TO M OT I V E , C A B L E A N D H O M E

A P P L I A N C E I N D U S T R Y S U P P L I E R

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1. Volčja Draga (TT Okroglica)

2. Velenje (Fori, Fori Skupina, Elvel, Emo-Tech)

L O C AT I O N

I N V E S T M E N T O P P O R T U N I T Y

The company is a supplier to renowned customers such as BMW, Volvo, Škoda, Jaguar, Ford, Gorenje, Adient, Lear, Recaro, Blanco.

R E F E R E N C E S

F O R I G R O U P I N T E R N AT I O N A L A U TO M OT I V E , C A B L E A N D H O M E

A P P L I A N C E I N D U S T R Y S U P P L I E R

5 I N V E S T M E N T O P P O R T U N I T Y

Source: Gvin

000 € 2014 2015 2016 2017

Revenues 19.237 21.027 19.618 19.728

EBITDA 2.496 2.455 2.594 2.841

EBIT 1.816 1.858 1.980 2.330

Net income 83 766 592 853

Total assets 14.877 14.235 15.389 16.979

Equity 4.880 5.029 5.619 6.492

Debt 4.331 4.093 3.649 3.506

Average no. of employees 88 97 95 92

EBITDA margin 13% 12% 13% 14%

EBIT margin 9% 9% 10% 12%

Net income margin 0% 4% 3% 4%

ROA 1% 5% 4% 5%

ROE 2% 15% 11% 13%

Net debt/EBITDA 1,66x 1,67x 1,41x 1,22x

Disclaimer This document serves the purpose of introducing potential investors to the above-mentioned process and is based on information available at the date of publication. The analyses and conclusions are of a general nature and do not purport to contain all information that may be required or relevant to the investor’s evaluation of the above process and the investor is wholly responsible for conducting its own investigation and analysis. Information about previous performance does not guaran-tee future performance. The information contained herein has not been independently verified. Neither the seller, the financial advisor nor any of their respective affiliate persons makes any representation, warranty or guarantee of any kind, express or implied, as to the accuracy, completeness or reasonableness of the infor-mation contained herein or any other written or oral communication transmitted or made available to any investor. Only the representations and warranties that are made in a written agreement relating to the above process, when and if executed, and subject to any limitations and restrictions as may be specified in such agreement, shall have any legal effect.

K E Y F I N A N C I A L S O F T T O K R O G L I C A D. D.

F O R I G R O U P I N T E R N AT I O N A L A U TO M OT I V E , C A B L E A N D H O M E

A P P L I A N C E I N D U S T R Y S U P P L I E R

6 I N V E S T M E N T O P P O R T U N I T Y

Source: Gvin

000 € 2014 2015 2016 2017

Revenues 6.677 7.756 7.772 8.519

EBITDA 1.943 1.415 1.960 1.630

EBIT 930 614 1.229 880

Net income 2 59 248 163

Total assets 22.100 22.087 21.377 23.192

Equity 6.898 6.957 7.205 6.799

Debt 13.519 13.078 12.087 11.553

Average no. of employees 66 66 71 82

EBITDA margin 29% 18% 25% 19%

EBIT margin 14% 8% 16% 10%

Net income margin 0% 1% 3% 2%

ROA 0% 0% 1% 1%

ROE 0% 1% 3% 2%

Net debt/EBITDA 6,96x 9,24x 6,16x 7,09x

Disclaimer This document serves the purpose of introducing potential investors to the above-mentioned process and is based on information available at the date of publication. The analyses and conclusions are of a general nature and do not purport to contain all information that may be required or relevant to the investor’s evaluation of the above process and the investor is wholly responsible for conducting its own investigation and analysis. Information about previous performance does not guaran-tee future performance. The information contained herein has not been independently verified. Neither the seller, the financial advisor nor any of their respective affiliate persons makes any representation, warranty or guarantee of any kind, express or implied, as to the accuracy, completeness or reasonableness of the infor-mation contained herein or any other written or oral communication transmitted or made available to any investor. Only the representations and warranties that are made in a written agreement relating to the above process, when and if executed, and subject to any limitations and restrictions as may be specified in such agreement, shall have any legal effect.

K E Y F I N A N C I A L S O F F O R I D . O . O .

F O R I G R O U P I N T E R N AT I O N A L A U TO M OT I V E , C A B L E A N D H O M E

A P P L I A N C E I N D U S T R Y S U P P L I E R