Thrace Plastics Holding And Commercial S.a. · ATHEX:PLAT
Thrace Plastics Holding And Commercial — Thrace Group — Investor Presentation (April 2020)
37 slides from Thrace Plastics Holding And Commercial's investor presentation, April 2020
Slide 1: Corporate Presentation April 2020
CORPORATE PRESENTATION April 2020 CORPORATE PRESENTATION I 1 1
Slide 2: Converting polypropylene into a World of Material & Solutions for over 40 years
THRACE GROUP I WHAT WE DO Converting polypropylene into a World of Material & Solutions for over 40 years CORPORATE PRESENTATION I 2 2
Slide 3: 2 Business Units
THRACE GROUP I 2 BUSINESS UNITS TECHNICAL FABRICS PACKAGING SOLUTIONS 72% 28% CORPORATE PRESENTATION I 3 3
Slide 4: Thrace Group at a Glance
THRACE GROUP I AT A GLANCE Converting more than 110k MT of PP/PE per year Operations in 9 countries 28 different production technologies 60% production / 19% sales in Greece Sales network in 80 countries / Sales in 24 market segments FY 2019 Group Sales 328 mil € / 2015-2019 CAPEX 135.9 mil € 1,605
Slide 5: Global Presence
THRACE GROUP I GLOBAL PRESENCE ▪ Presence in 9 countries ▪ Production and trading facilities in 11 locations ▪ Trading facilities in 3 locations 100% JV Technical Fabrics BU Packaging BU CORPORATE PRESENTATION I 5 5
Slide 6: Production & Revenue Breakdown (2019)
THRACE GROUP I PRODUCTION & REVENUE BREAKDOWN (2019) ▪ 60% of group production in Greece ▪ Strong sales diversification through our global presence. Only 19% of sales in Greece. CORPORATE PRESENTATION I 6 6
Slide 7: Technical Fabrics Business Unit
TECHNICAL FABRICS BUSINESS UNIT CORPORATE PRESENTATION I 7 7
Slide 8: Technical Fabrics BU Products
TECHNICAL FABRICS BU I PRODUCTS CORPORATE PRESENTATION I 8 8
Slide 9: Technical Fabrics BU Overview 2019 (1/2)
TECHNICAL FABRICS BU I OVERVIEW 2019 (1/2) ▪ 56% of production in Greece ▪ Global sales presence but mainly Europe (well diversified within Europe) and America CORPORATE PRESENTATION I 9 9
Slide 10: Technical Fabrics BU Overview 2019 (2/2)
TECHNICAL FABRICS BU I OVERVIEW 2019 (2/2) Key P & L Items FY FY (amounts in €’000) 2019 2018 Sales 240.604 243.980 y-o-y Change % -1.4% EBITDA 15.745 15.528 EBITDA margin 6.5% 6.4% CORPORATE PRESENTATION I 10 10
Slide 11: Technical Fabrics BU Competition
TECHNICAL FABRICS BU I COMPETITION CORPORATE PRESENTATION I 11 11
Slide 12: Packaging Solutions Business Unit
PACKAGING SOLUTIONS BUSINESS UNIT CORPORATE PRESENTATION I 12 12
Slide 13: Packaging BU Products
PACKAGING BU I PRODUCTS BAGS/FFS FILMS PALLET COVERING/ CONTAINER LINERS/ FABRICS PACKAGING FILM CARGO PROTECTION INJECTION/BUCKETS/ THERMOFORMING EPS CONTAINERS & CRATES PAILS/CONTAINERS CUPS TRAYS BAG IN BOX GARBAGE BAGS ROPES & TWINES CORPORATE PRESENTATION I 13 13
Slide 14: Packaging BU Applications
PACKAGING BU I APPLICATIONS Agricultural Animal / Fish Butter / Spread / Catering / Beer / Coffee Cheese Product Packaging Feed Yellow fats Disposables Confectionary / Food Bulk Dairy Fertilizers Ice Cream Kid Specialties Honey Products Lubricants / Paints / Building Processed Meat / Salads / Pickle
Slide 15: Packaging BU Overview 2019 (1/2)
PACKAGING BU I OVERVIEW 2019 (1/2) * Includes Bulgaria, Albania, Romania, Serbia, Slovenia, Croatia, FYROM, Bosnia-Herzegovina, Montenegro, Kosovo ** Includes all other European countries plus Russia, ▪ 69% of production and 58% of sales in Greece Ukraine and Georgia ▪ Main markets are Greece and SE
Slide 16: Packaging BU Overview 2019 (2/2)
PACKAGING BU I OVERVIEW 2019 (2/2) Key P & L Items FY FY (amounts in €’000) 2019 2018 Sales 94.895 91.642 y-o-y Change % +3.5% EBITDA 13.280 11.978 EBITDA margin 14.0% 13.1% CORPORATE PRESENTATION I 16 16
Slide 17: Packaging BU Competition
PACKAGING BU I COMPETITION CORPORATE PRESENTATION I 17 17
Slide 18: Strategy
STRATEGY Pursuing profitable growth through investment in capacity & innovation CORPORATE PRESENTATION I 18 18
Slide 19: Strategy Overview: Profitable Growth
THRACE GROUP I STRATEGY OVERVIEW Profitable Growth Market-driven Value Capture Organic growth (increase margins) ▪ Increase Capacity ▪ Further reduce production cost ▪ Geographical expansion ▪ Improvement of Product Mix (shift of sales to the high margin products) ▪ Focus on two major growth markets
Slide 20: Circular Economy
THRACE GROUP I CIRCULAR ECONOMY Thrace Group commits and invests in the “EU Strategy for Plastics in a circular economy” Fully aligned with the European strategy for plastics and the transition to a more circular economy, Thrace Group turns today’s challenges into opportunities ensuring sustainable
Slide 21: In the Loop: Solving the Problem of Waste
THRACE GROUP I IN THE LOOP SOLVING THE PROBLEM OF WASTE • We have created In the Loop an upcycling system though which, in cooperation with our customers and suppliers we collect, recycle and reuse the used plastic material creating valuable raw material for thousand new products https://www.in-the-
Slide 22: Financial Review
FINANCIAL REVIEW CORPORATE PRESENTATION I 22 22
Slide 23: FY 2019 IFRS Financial Results: P&L Summary
FY 2019 IFRS FINANCIAL RESULTS I P&L SUMMARY amounts in 000s € 2019 2018 y-o-y Turnover 327,795 322,733 1.6% Cost of Goods Sold -264,247 -259,508 1.8% Gross profit 63,548 63,225 0.5% Gross profit margin 19.4% 19.6% Operating Expenses -51,446 -49,528 3.9% EBIT 12,102 13,697 -11.6% EBIT margin 3.7% 4.
Slide 24: FY 2019 IFRS Financial Results: Highlights
FY 2019 IFRS FINANCIAL RESULTS I HIGHLIGHTS ▪ The Group’s sales volume remained in the same levels with the year 2018 at 121.3 thousand tons. ▪ Sales volume in Technical Fabrics B.U. reached 90.3 th. tons in 2019 versus 93.5 th. tons in 2018 (-3.4%) ▪ Sales volume in Packaging B.U. reached 35.7 th.
Slide 25: FY 2019 IFRS Financial Results: Outlook for 2020
FY 2019 IFRS FINANCIAL RESULTS I OUTLOOK FOR 2020 In relation to the current financial conditions, the improved financial results of the first quarter of 2020, compared to the previous financial year, will increase the capability of limiting potential risks, if they arise in the future. Regarding th
Slide 26: Group Revenue Bridge
FY 2019 IFRS FINANCIAL RESULTS I GROUP REVENUE BRIDGE (€ ‘000) CORPORATE PRESENTATION I 26 26
Slide 27: Group Adjusted EBT Bridge
FY 2019 IFRS FINANCIAL RESULTS I GROUP Adjusted EBT BRIDGE (€ ‘000) CORPORATE PRESENTATION I 27 27
Slide 28: Adjusted EBITDA to Adjusted EBT Bridge
FY 2019 IFRS FINANCIAL RESULTS I Adjusted EBITDA to Adjusted EBT BRIDGE (€ ‘000) CORPORATE PRESENTATION I 28 28
Slide 29: FY 2019 IFRS Financial Results: BS Summary
FY 2019 IFRS FINANCIAL RESULTS I BS SUMMARY amounts in 000s € 2019 2018 Key Ratios 2019 2018 Tangible Assets 123,323 136,076 Total Debt 105,579 101,186 Rights-of-use assets 14,972 0 Cash 22,051 22,824 Intangible Assets 11,350 11,567 Net Debt 83,528 78,362 Other NC Assets 20,471 19,377 Net Debt / EBI
Slide 30: Cash Flow Summary
FY 2019 IFRS FINANCIAL RESULTS I CASH FLOW SUMMARY CORPORATE PRESENTATION I 30 30
Slide 31: Net Debt
FY 2019 IFRS FINANCIAL RESULTS I NET DEBT ▪ The high investment plan that started in 2015 resulted in increased Net Debt in 2017 and 2018. ▪ Net Debt/EBITDA in 2019 was increased above the Group’s max ratio of 2x (2.9) however this is projected to reach the desired levels by 2020. CORPORATE PRESENTA
Slide 32: Earnings Per Share
FY 2019 IFRS FINANCIAL RESULTS I EARNINGS PER SHARE 2019 2018 Earnings Before Taxes 8.348 10.005 Income Tax* 4.331 1.976 Minority Interest 301 308 Profit Attributable to Shareholders 3.716 7.721 Adjusted # of Shares 43.737 43.737 EPS (in euro) 0,0850 0,1765 *2018 income tax was reduced using deferre
Slide 33: Group Financial Performance: Stock Data
GROUP FINANCIAL PERFORMANCE I STOCK DATA CORPORATE PRESENTATION I 33 33
Slide 34: Corporate Governance
THRACE GROUP I CORPORATE GOVERNANCE BOARD OF DIRECTORS Constantinos Chalioris: Chairman & Group CEO Christos Komninos: Non-Executive Vice-Chairman Dimitris Malamos: Executive Member & Group Deputy CEO Vassilis Zairopoulos: Non-Executive Member Christos Chiatis: Non-Executive Member Petros Fronistas:
Slide 35: Alternative Performance Measures ESMA
ALTERNATIVE PERFORMANCE MEASURES I ESMA Alternative Performance Measures (APM) During the description of the developments and the performance of the Group, ratios such as the EBIT and the EBITDA are utilized. • EBIT (The indicator of earnings before the financial and investment activities as well as
Slide 36: Disclaimer
THRACE GROUP I DISCLAIMER This material (the “Presentation”) has been prepared, issued and presented by Thrace Plastics Co S.A. (the “Company”) on the terms set out below for the exclusive and confidential use of the persons to whom it is addressed (“Recipients”), solely for use by the Recipients in
Slide 37: Contacts
Contacts Investors Relations Ioanna Karathanassi ikarathanasi@thraceplastics.gr +30 210 9875081 Group CFO Dimitris Fragkou dfragkou@thraceplastics.gr +30 210 9875015 www.thracegroup.com Connect with us: https://www.linkedin.com/company/thrace-group/ CORPORATE PRESENTATION I 37 37