Slide 1: FY 2022 Results
FY 2022 Results Conference call – March 14, 2023
Slide 2: Important information
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Slide 3: FY 2022 - Financial highlights
FY 2022 - Financial highlights €m FY 2020 FY 2021 FY 2022 Total Revenues 1,073.7 1,456.3 1,930.5 EBITDA 39.4 90.5 82.1 Net Income -2.4 35.1 26.6 - Total consolidated Revenues of 1,930.5€m (+32.6% on 2021 FY) - Inflation continued to penalize margins also in 4Q and EBITDA of FY 2022 amounted to 82.1€
Slide 4: FY 2022 - Sales
FY 2022 - Sales 4Q €m FY 1,896.6 1,666.7 including ca 25€m of +464.0€m sales contribution from 1,432.6 acquisitions: Verrini Group (consolidated 1,259.3 from 1 April 2021) for +54.4€m 425.1 1,065.4 ca 11€m and Frigor 386.3 370.7 Street Market 903.5 Carni (consolidated from 1 April 2022) for ca 14€m
Slide 5: FY 2022 - GM dynamics
FY 2022 - GM dynamics €/kg Gross Margin trend - basis 100% on 2019 4Q FY - In 2022 business year general food inflation affected Street Market Total Street Market Total Sales growth but also the Gross Margin, as a 114% 117% 113% consequence of a pass-through process having 110% different dynamics by
Slide 6: FY 2022 - Income statement
FY 2022 - Income statement 4Q 21 % 4Q 22 % €m FY 21 % FY 22 % 379.4 100.0% 435.5 100.0% Total revenues 1,456.3 100.0% 1,930.5 100.0% − Gross Margin in FY 2022 was affected by food inflation and different dynamics by segments (300.9) -79.3% (352.6) -81.0% Cost of goods sold (1,142.9) -78.5% (1,548.2)
Slide 7: Trade NWC as at December 2022
Trade NWC as at 31 December 2022 Trade NWC Cash conversion cycle - days €m 31.12.19 31.12.21 30.09.22 31.12.22 122 Accounts Receivable 368.6 321.3 414.8 353.8 108 Days 79 81 75 67 89 81 93 75 Inventory 170.4 199.9 213.4 209.9 79 64 67 Days 47 64 48 49 48 49 47 Accounts Payable (324.5) (381.0) (478.2
Slide 8: Net Debt as at December 2022
Net Debt as at 31 December 2022 Net Debt Net Debt €m €m 31.12.19 31.12.21 30.09.22 31.12.22 217.6 Liquidity 192.5 250.0 247.6 191.7 196.0 187.7 141.4 Short-term Net debt (175.2) (97.3) (124.2) (110.8) Long-term debt (166.9) (219.3) (230.1) (219.1) 149.6 138.3 106.7 Net Debt before IFRS 16 (149.6) (6
Slide 9: Gross Debt maturity as at December 2022
Gross Debt maturity as at 31 December 2022 €m Gross Debt (net of IFRS 16) Non-current debt 120.1 220.1 35.0 84.9 87.9 20.0 - Fixed component represented 48% of non-current Gross Debt as at 31 47.3 December 2022 and 41% of Total 5.0 80.0 85.1 Gross Debt (current portion included) 64.9 42.3 7.9 1Y 2Y
Slide 10: FY 2022 – Dividend proposal
FY 2022 – Dividend proposal € EPS consolidated EPS DPS 1.03 relating to MARR SpA, 0.97 1.00 0.97 Parent company of the MARR Group 0.78 0.53 0.48 0.47 0.40 0.38 0.38 0.35 -0.04 -0.06 2018 2019 2020 ott-21 2021 2022 - The BoD proposes for the approval of the Shareholders’ Meeting of next 28th April a
Slide 11: 2022 Sustainability Report
2022 Sustainability Report - The Board of Directors of MARR S.p.A. examined and approved the Sustainability Report - Consolidated Non-Financial Statement 2022 pursuant to Legislative Decree 254/2016 that will be made public on the Company's website within the terms of the law - MARR, for the purpose
Slide 12: Current trading
Current trading - Trend in sales to Street Market and National Account clients in the first two months of 2023 is consistent with the growth objectives expected for the year, also confirming the progressive and gradual recovery of margins - These results occurred in a context of Out-of-Home food con
Slide 13: Perspectives
Perspectives - The process of adjusting the sales prices continues, an operation that is still more effective in the Street Market segment and, within the National Account, in the Chains&Groups sub-segment (Groups and Chains of Hotels and Restaurants), while in that of the Canteens and direct suppli
Slide 14: Investor Relations contacts
Investor Relations contacts Antonio Tiso atiso@marr.it tel. +39 0541 746803 mob. +39 331 6873686 Léon Van Lancker lvanlancker@marr.it mob. +39 335 1872014 MARR S.p.A. Via Spagna, 20 - 47921 Rimini (Italy) website www.marr.it 14