Thrace Plastics Holding And Commercial S.a. · ATHEX:PLAT
Thrace Plastics Holding And Commercial — Thrace Group — Investor Presentation (May 2023)
43 slides from Thrace Plastics Holding And Commercial's investor presentation, May 2023
Slide 1: Corporate Presentation May 2023
CORPORATE PRESENTATION I MAY 2023
Slide 2: Thrace Group at a Glance
THRACE GROUP AT A GLANCE I 2021 in numbers [GRI: 102-6, 102-7] Operates in Meeting the demands of Group headcount of Sales network in Production capacity for Reuse of Operations in 3 business 25 market 2,069 80 countries 28 different 100% 9 countries units segments employees worldwide technologies i
Slide 3: Business Units
BUSINESS UNITS I Operating in three different BUs, realizing synergies and diversification TECHNICAL FABRICS BU PACKAGING SOLUTIONS BU AGRICULTURE BU PRODUCING 100% RECYCLABLE PRODUCTS 3
Slide 4: Technical Fabrics Business Unit
TECHNICAL FABRICS I BUSINESS UNIT
Slide 5: Technical Fabrics BU
TECHNICAL FABRICS BU I Top class European producer with wide and diversified product portfolio Product Categories: • Filter fabrics • Geosynthetic products (woven, non-woven) with application in • Fabrics with application in furniture / bedding large road construction, drainage, erosion control proj
Slide 6: Production & Revenue Breakdown
PRODUCTION & REVENUE BREAKDOWN I European based production with global footprint and extended sales network Technical Revenue 2022 EBITDA 2022 EBT 2022 EBT 2019 Fabrics BU 274.5mil 29.7mil 20.1mil 2.7mil PRODUCTION GEOGRAPHICAL BREAKDOWN SALES GEOGRAPHICAL BREAKDOWN Asia, Africa & Oceania UK America
Slide 7: Packaging Solutions Business Unit
PACKAGING SOLUTIONS I BUSINESS UNIT
Slide 8: Packaging BU
PACKAGING BU I Producer of food packaging and industrial products, being the market leader in SE Europe Product Categories: • FIBC/ filling solutions • Cups/ thermoforming glasses • Bags/ FFS Films (Form, Fill, Seal) • Plastic crates • Packaging film / Pallet covering • Bag in box • Container liners
Slide 9: Production & Revenue Breakdown
PRODUCTION & REVENUE BREAKDOWN I SE Europe based production and sales, with leading market shares in a variety of products Revenue 2022 EBITDA 2022 EBT 2022 EBT 2019 Packaging BU 132.7mil 18.9mil 12.2mil 6.6mil PRODUCTION GEOGRAPHICAL BREAKDOWN SALES GEOGRAPHICAL BREAKDOWN N.C. Asia, Africa & S-E Eu
Slide 10: Agriculture Business Unit
SAS ) =e AGRICULTURE BUSINESS UNIT
Slide 11: Agriculture BU
AGRICULTURE BU I Environmentally friendly Greenhouses with almost ZERO CO 2 footprint Green Company of the Year 2023 ▪ 18.5 Ha, the biggest hydroponic greenhouses in S.E Europe ▪ The only greenhouses in the world heated exclusively by geothermal energy ▪ Greek sun flavoured vegetables with almost ze
Slide 12: Agriculture BU Products
AGRICULTURE BU PRODUCTS I A focused range of products, well placed in the Greek market, with growth potential locally & abroad Our Products: Fresh & delicious hydroponic, low carbon footprint vegetables Cucumber Mini Cucumber Aubergines Cluster Tomato Beef Tomato Brioso Tomato Papeletto Tomato 12
Slide 13: Agriculture BU Products
AGRICULTURE BU PRODUCTS I A focused range of products, well placed in the Greek market, with growth potential locally & abroad Product packaging: In collaboration with our innovation & creative partners we can design multi-use & 100% recyclable packaging with endless branding capabilities for privat
Slide 14: Sustainable Development Approach
SUSTAINABLE DEVELOPMENT APPROACH G ROWING WITH RESPEC T TO SOC IETY AND THE ENV IRONMENT
Slide 15: Sustainable Development
SUSTAINABLE DEVELOPMENT I We are implementing a robust sustainability plan according to UN SDGs SUSTAINABLE DEVELOPMENT PRINCIPLES THRACE GROUP FOCUSES ON 7 SUSTAINABLE DEVELOPMENT GOALS THRACE GROUP IS CONSTANTLY ALIGNED WITH THE MOST SIGNIFICANT INITIATIVES 15
Slide 16: Sustainable Development: Circular Economy
SUSTAINABLE DEVELOPMENT I Focus on Circular Economy by developing sustainable & innovative products with a positive environmental impact DESIGN PRIORITIES NON-HAZARDOUS WASTE MANAGEMENT • Low environmental footprint • Lowest possible weight ensuring same durability • Reusability • 100% recyclability
Slide 17: Sustainable Development: Energy Efficiency
SUSTAINABLE DEVELOPMENT I Focus on energy efficiency, which is a never-ending effort CARBON FOOTPRINT ENERGY EFFICIENCY IMPROVEMENT For the monitoring & calculation of greenhouse gas emissions, we employ Energy consumption in 2022 -15% a specialized platform aligned with the REDUCTION OF ENERGY GHG
Slide 18: In-the-Loop Platform
SUSTAINABLE DEVELOPMENT I Strong progress in the expansion of “In-the-Loop”, a pioneer platform, aiming to link all stakeholders and upcycling the plastic waste IN THE LOOP • Is based on the 3 pillars of the circular economy REDUCE | REUSE | RECYCLE and networks companies, brands, public bodies and
Slide 19: Sustainable Development: Local Communities
SUSTAINABLE DEVELOPMENT I Creationtoand We contribute thesafeguarding of employment local societies, with many initiatives for the local communities SUPPORTING LOCAL COMMUNITIES RESPECT OF HUMAN RIGHTS The Group is committed to creating economic value for the • Committed to zero tolerance for acts o
Slide 20: Sustainable Development: Corporate Governance
SUSTAINABLE DEVELOPMENT I Creation and Robust Corporate safeguarding Governance of employment framework, being part of who we are and how we operate BOARD OF DIRECTORS CORPORATE GOVERNANCE COMPLIANCE • 11 Board Members: 2 executive members, • Full compliance with current CG code – First audit 9 non-
Slide 21: Actions & Performances 2022
SUSTAINABLE DEVELOPMENT I We improve our performance every year through targeted actions with tangible results ACTIONS & PERFORMANCES 2022
Slide 22: Strategy
STRATEGY I PURSUING PROFITABLE GROWTH THROUGH INNOVATION AND SUSTAINABILITY
Slide 23: Strategy Overview
STRATEGY OVERVIEW Group strategy implementation progressing, focusing on increased profitability and business development Sustainable Profitable Growth Value Capture New Business ▪ Further reduce production cost ▪ New business opportunities within the existing sectors ▪ Improvement of Product Mix (s
Slide 24: Capex Progress
CAPEX PROGRESS I An extensive CAPEX plan of €232 mil. during the last 8 years, targeting in value adding products and profitability increase ▪ In the period 2015 – 2019, the Group entered a new CAPEX plan for developing the Non-Wovens business, in parallel with capacity addition in Packaging BU. ▪ A
Slide 25: Strategy Overview: Capex Plan
STRATEGY OVERVIEW I CAPEX plan implementation progressed in 2022, followed by new investments in 2023 ▪ FY 2022 investment program progressed (€37 mil.): ▪ FY 2023 investment program (~€30 mil.*) already kicked off: ▪ New Fiber line used as the basic raw material for the ▪ New pilot investment in pa
Slide 26: Financial Review FY 2022
FINANCIAL REVIEW I FY 2022
Slide 27: FY22 Highlights
FY22 HIGHLIGHTS I Another year of strong financial performance in a highly challenging environment Highlights ▪ European economy suffered during the year, as a result of war crisis ▪ Satisfactory level of demand during the H1 of the year but significant slowdown in demand in H2 and especially Q4 ▪ M
Slide 28: Financial Highlights FY22
FINANCIAL HIGHLIGHTS FY22 I Strong recurring operating profitability, demonstrating resilience and adaptability in a turbulent environment Market Overview ▪ A large slowdown in demand in the second half of the year (historical low), coupled with client’s de -stocking and plants’ production decrease
Slide 29: Cost Base
COST BASE I Costs remain high, although drop in raw materials from May 2022 ICIS Index Raw & Secondary Materials ▪ After a significant increase in 2021, raw material cost gradually decreased, after reaching historical high prices in May2022 - still above pre-pandemic levels. ▪ Reduction of customer
Slide 30: Financial Analysis
FINANCIAL ANALYSIS I The Group managed to enter the post-pandemic era by posting enhanced profitability compared to the pre-pandemic levels Note: The financial figures between 2022 - 2021 are not directly comparable (or versus 2020), due to the special conditions (Due to sales related to Covid-19 pr
Slide 31: Financial Results FY 2022 vs FY 2019
FINANCIAL RESULTS FY 2022 vs FY 2019 I Robust financial performance, compared to the pre-pandemic FY2019 20.3% 32.6% 31
Slide 32: Segmental Performance
SEGMENTAL PERFORMANCE I The Group for another year achieved strong, recurring and significantly increased profitability, generated from the traditional product portfolio, compared to the pre-pandemic levels Turnover Gross Profit 350,000 120,000 113,245 318,878 300,000 274,488 100,000 240,604 250,000
Slide 33: Financial Position
FINANCIAL POSITION I Strong Balance Sheet, with relatively low debt level, after historical high total debt of >€100 mil. in 2019 Balance Sheet 2022 2021 2019 Key Ratios 2022 2021 2019 Fixed Assets 182,209 167,551 149,645 Total Debt 61,067 53,978 105,579 Other NC Assets 27,579 23,393 20,471 Cash 39,
Slide 34: Working Capital
WORKING CAPITAL I Normal WC pattern, despite the increased sales and Raw Materials prices ▪ DSO, DPO, DIO follow a normal pattern, excluding 2021, which is considered an outlier. ▪ DSO down by 29%, while total AR increased similar vs pre Covid period despite the relatively higher sales prices. ▪ Inv
Slide 35: Cash Flow Overview
CASH FLOW OVERVIEW I Cashflows follow the normal pattern – high outflows for CAPEX and dividends 35
Slide 36: Net Debt
NET DEBT I After the historical high net debt of €84 mil. in 2019, following the 5yrs restructuring plan, Net Debt is settled at relatively low level, albeit the period 2020-2022 CAPEX of c. €97 mil. ▪ Net Debt amounted to €21.5 million ▪ There has been an increase at the level of working capital, p
Slide 37: Outlook FY 2023
OUTLOOK I FY 2023
Slide 38: 2023 Outlook
2023 OUTLOOK I Thrace Group is now, more than ever, capable of capitalizing on the significant recurring profitability of the year 2022 Q1 2023 ▪ The economic environment remains challenging due to low demand, persistent inflation levels, high energy costs and also high financing costs ▪ Outlook is
Slide 39: Thrace Group Stock Data
~~ ’ ie sional THRACE GROUP STOCK DATA r xs (a 16.23 ee, : 04] ; . ~ se MO Buy ee ee
Slide 40: Shareholders Analysis
SHAREHOLDERS ANALYSIS I Sufficient free float and well diversified investors portfolio. Focusing on achieving strong dividend yields for our shareholders Shareholders Breakdown 8.6% Major Shareholders 5.5% Greek Institutional Investors International Institutional Investors 64.1% 20.0% Free float: 34
Slide 41: Alternative Performance Measures Analysis
ALTERNATIVE PERFORMANCE MEASURES I Analysis 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 wel
Slide 42: Corporate Presentation Disclaimer
CORPORATE PRESENTATION 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 Rec
Slide 43: Contacts
Contacts Investors Relations Elina Sideri ir@thraceplastics.gr +30 210 9875081 Connect with us: www.linkedin.com/company/thrace-group/ www.thracegroup.com