Vidrala Sa · BME:VID
Vidrala Sa — FY 2023 Earnings Presentation
12 slides from Vidrala Sa's earnings presentation, Feb 29, 2024
Slide 1: FY 2023 Results
FY 2023 RESULTS 29th FEBRUARY 2024
Slide 2: Disclaimer
DISCLAIMER This presentation includes or may include representations or estimations concerning the future about intentions, expectations or forecasts of VIDRALA or its management. which may refer to the evolution of its business performance and its results. These forward-looking statements refer to
Slide 3: FY 2023 Key Figures
FY 2023 KEY FIGURES FY 2023 Change Change at constant currency & comparable scope Sales (EUR million) 1,558.8 +15.8% +15.3% EBITDA (EUR million) 393.7 +45.6% +43.5% Earnings per share (EUR) 7.23 +53.5% Debt (EUR million) 472.2 +182.4% Debt / LTM EBITDA* (multiple) 1.1x +0.5x Important: Debt figure a
Slide 4: Sales: Year Over Year Change
SALES YEAR OVER YEAR CHANGE EUR million +15.8% 1.750 YoY +15.3% -0.9% 1.500 1,558.8 +1.4% 1.250 1,345.6 1.000 750 FY 2022 Scope Change FX FY 2023 at constant currency Scope refers to the contribution of EUR 19.1 million from Vidroporto, which consolidates since December 1, 2023. 4
Slide 5: EBITDA: Year Over Year Change
EBITDA YEAR OVER YEAR CHANGE EUR million +45.6% 500 YoY +43.5% -0.8% 400 393.7 300 +2.9% 270.4 200 100 0 FY 2022 Scope Change FX FY 2023 at constant currency Scope refers to the contribution of EUR 7.8 million from Vidroporto, which consolidates since December 1, 2023. 5
Slide 6: Operating Margin
OPERATING MARGIN YEAR OVER YEAR CHANGE As percentage of sales 30% 25.3% 25% 20.1% 20% +520 bps 15% 10% FY 2022 FY 2023 FY 2023 reported figure includes the contribution from Vidroporto, which consolidates since December 1, 2023. Excluding this effect, FY 2023 EBITDA margin would amount to 25.1% over
Slide 7: Cash Profile
CASH PROFILE FREE CASH FLOW GENERATION FY 2023 EUR million / as percentage of sales 450 25.3% 393.7 -9.7% 300 -5.7% 9.8% 150 153.5 0 EBITDA Capex WC & Others FCF FCF refers to free cash flow generation, excluding payments for M&A transactions. 7
Slide 8: Net Debt
NET DEBT SIX-MONTHLY EVOLUTION, SINCE DECEMBER 2021 EUR million and times EBITDA* **Acquisition of The Park and Vidroporto for a 600 total EV amount of EUR 420 million 6,0x 472 400 ** 4,0x 284 215 200 167 2,0x 0.9x 1.1x 97 0.8x 0.6x 0.4x 0 0,0x Dec-21 Jun-22 Dec-22 Jun-23 Dec-23 Important: Debt figu
Slide 9: Business Distribution, by Region
BUSINESS DISTRIBUTION, BY REGION FY 2023 PRO-FORMA FIGURES EUR million Sales EBITDA Iberia & Others 131 33 159 56 UK & Ireland 799 Brazil 237 Italy 609 116 THE NEW VIDRALA GROUP NEW PERIMETER AND RESHAPED GEOGRAPHICAL FOOTPRINT 9
Slide 10: FY 2023 Results | Main Highlights
FY 2023 RESULTS | Main highlights TOP-LINE GROWTH OF 15.8% Sales in the year 2023 amounted to EUR 1,558.8 million, showing a reported growth of +15.8% OPERATING MARGIN OF 25.3% Operating profit, EBITDA, amounted to EUR 393.7 million representing an operating margin of 25.3% STRONG FREE CASH FLOW Cas
Slide 11: Sale of the Italian Business
SALE OF THE ITALIAN BUSINESS STRATEGIC RATIONALE Refocus the business in three core areas Crystallise the opportunity to realise the value created Reinforce financial position and return cash to shareholders SALE FOR A CONSIDERATION OF EUR 230 MILLION* CLOSING OF THE TRANSACTION, SUBJECT TO APPROVAL
Slide 12: Vidrala, S.A. Investor Relations
VIDRALA, S.A. Investor Relations Tel: +34 94 671 97 50 investors@vidrala.com www.vidrala.com