Thrace Plastics Holding And Commercial S.a. · ATHEX:PLAT
Thrace Plastics Holding And Commercial — Thrace Group — Investor Presentation (April 2018)
34 slides from Thrace Plastics Holding And Commercial's investor presentation, Apr 26, 2018
Slide 1: Corporate Presentation
CORPORATE PRESENTATION 26 April 2018 CORPORATE PRESENTATION I 1 1
Slide 2: Converting polypropylene into a World of Material & Solutions for over 38 years
THRACE GROUP I WHAT WE DO Converting polypropylene into a World of Material & Solutions for over 38 years CORPORATE PRESENTATION I 2 2
Slide 3: Thrace Group: 2 Business Units
THRACE GROUP I 2 BUSINESS UNITS TECHNICAL FABRICS PACKAGING SOLUTIONS 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 11 countries 28 different production technologies 58% production / 17% sales in Greece Sales network in 80 countries / Sales in 24 market segments FY 2017 Group Sales 319 mil € / 2017 CAPEX 21.7 mil € 1,800 emplo
Slide 5: Thrace Group Global Presence
THRACE GROUP I GLOBAL PRESENCE ▪ Presence in 11 countries ▪ Production and trading facilities in 11 locations ▪ Trading facilities in 5 locations 100% JV Technical Fabrics BU Packaging BU CORPORATE PRESENTATION I 5 5
Slide 6: Production & Revenue Breakdown
THRACE GROUP I PRODUCTION & REVENUE BREAKDOWN Production Geographical Breakdown Sales Geographical Breakdown S-E Europe Rest of 11% America Europe UK 11% 8% 16% UK 20% America 16% European Union excl. Greece, UK 39% Asia, Africa Greece & Oceania Greece 17% 4% 58% ▪ 58% of group production in Greece
Slide 7: Technical Fabrics Business Unit
TECHNICAL FABRICS BUSINESS UNIT CORPORATE PRESENTATION I 7 7
Slide 8: Technical Fabrics BU: Products by Application
TECHNICAL FABRICS BU I PRODUCTS BY APPLICATION GEOSYNTHETICS CONSTRUCTION AGRI/HORTICULTURE LANDSCAPE- SPORT & LEISURE AQUACULTURE GARDENING MEDICAL & HYGIENE FILTRATION FURNITURE & AUTOMOTIVE FIBC / PACKAGING BEDDING FABRICS ADVANCED FABRICS/ FLOOR COVERING INDUSTRIAL FABRICS ARNO WEBBINGS/ INDUSTR
Slide 9: Technical Fabrics BU Overview 2017
TECHNICAL FABRICS BU I OVERVIEW 2017 Production Geographical Breakdown Sales Geographical Breakdown America UK 15% 20% UK Rest of 29% Europe America 9% 21% Asia, Africa European & Oceania Greece Union excl. 4% 56% Greece, UK 43% Greece 3% ▪ 56% of production in Greece (following the investments of 2
Slide 10: Technical Fabrics BU Competition
TECHNICAL FABRICS BU I COMPETITION CORPORATE PRESENTATION I 10 10
Slide 11: Packaging Solutions Business Unit
PACKAGING SOLUTIONS BUSINESS UNIT CORPORATE PRESENTATION I 11 11
Slide 12: 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 12 12
Slide 13: Packaging BU Overview 2017
PACKAGING BU I OVERVIEW 2017 Production Geographical Breakdown Sales Geographical Breakdown S-E Europe S.E. Europe* 36% 28% N.C. Europe** 14% UK 2% Greece Asia, Africa Greece 55% & Other 64% 1% * Includes Bulgaria, Albania, Romania, Serbia, Slovenia, Croatia, FYROM, Bosnia-Herzegovina, Montenegro, K
Slide 14: Packaging BU Competition
PACKAGING BU I COMPETITION CORPORATE PRESENTATION I 14 14
Slide 15: Strategy
STRATEGY Pursuing profitable growth through investment in capacity & innovation CORPORATE PRESENTATION I 15 15
Slide 16: 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 17: Strategy Progress: Market-driven Organic Growth
THRACE GROUP I STRATEGY PROGRESS Market-driven Organic Growth CAPEX (in mil €) 2015 - 2016 2017 - 2018 Technical Fabrics 40.7 31.6 Packaging 14.4 11.9 Agricultural & Other 1.6 - Total CAPEX 56.7 43.5 CAPEX in Greek subsidiaries 42.7 13.7 CAPEX in subsidiaries abroad 14.0 29.9 Additional Volumes (in
Slide 18: Strategy Progress: Value Capture
THRACE GROUP I STRATEGY PROGRESS Value Capture (increase margins) Further reduce Production Cost Energy Management: target to reduce kwh/kg by 30% Control cost per man-hour: improve competitiveness Reduce scrap rates Improvement of Product Mix Increase the number of sales people Add new channels to
Slide 19: Financial Review
FINANCIAL REVIEW CORPORATE PRESENTATION I 19 19
Slide 20: FY 2017 IFRS Financial Results: P&L Summary
FY 2017 IFRS FINANCIAL RESULTS I P&L SUMMARY amounts in 000s € 2017 2016 y-o-y Turnover 318.509 291.900 9,1% Cost of Goods Sold (251.619) (225.497) 11,6% Gross profit 66.890 66.403 0,7% Gross profit margin 21,0% 22,7% Operating Expenses (49.711) (43.498) 14,3% Operating Expenses 2017 2016 y-o-y EBIT
Slide 21: FY 2017 IFRS Financial Results: Highlights
FY 2017 IFRS FINANCIAL RESULTS I HIGHLIGHTS Year under review highlights: ▪ Growth in the consolidated sales volume (+11.6%) as a result of the investments in new production lines during the 2-year period 2015-2016. The Sales volume increase refers to both business units of the Group (Technical Fabr
Slide 22: Group Revenue Bridge
FY 2017 IFRS FINANCIAL RESULTS I GROUP REVENUE BRIDGE (€ ‘000) 33.880 +11.3% +9.1% 1.029 324.751 6.242 318.509 291.900 FY 2016 Volume Sales / Price Mix FY 2016 with Translation FX FY 2017 Impact Impact Constant FX CORPORATE PRESENTATION I 22 22
Slide 23: Group EBT Bridge
FY 2017 IFRS FINANCIAL RESULTS I GROUP EBT BRIDGE (€ ‘000) 1.711 18.327 -9.7% 2.522 3.906 16.541 1.311 -22.4% -24.5% 1.121 892 14.223 101 389 13.834 3.629 Freight: 1,826 CORPORATE PRESENTATION I 23 23
Slide 24: FY 2017 Technical Fabrics Business Unit Overview
FY 2017 TECHNICAL FABRICS BUSINESS UNIT I OVERVIEW Key P & L Items FY FY TF BU Volume Sold (amounts in €’000) 2017 2016 '000 Tons Sales 247.789 225.299 96 12,1% 86 y-o-y Change % +10.0% EBITDA 18.907 22.560 EBITDA margin 7.6% 10.0% 2017 2016 TF BU 2017 Sales Bridge 27.333 1.428 +12.8% +10.0% 254.060
Slide 25: FY 2017 Packaging Business Unit Overview
FY 2017 PACKAGING BUSINESS UNIT I OVERVIEW Key P & L Items FY FY Packaging BU Volume Sold (amounts in €’000) 2017 2016 Sales 83.726 76.021 '000 Tons 31 9,1% 28 y-o-y Change % +10.1% EBITDA 11.519 10.825 EBITDA margin 13.8% 14.2% 2017 2016 Pack BU 2017 Sales Bridge 6.953 723 +10.1% 29 +10.1% 83.697 8
Slide 26: FY 2017 IFRS Financial Results: BS Summary
FY 2017 IFRS FINANCIAL RESULTS I BS SUMMARY amounts in 000s € 2017 2016 Key Ratios 2017 2016 Tangible Assets 114.507 107.550 Total Bank Debt 88.400 85.802 Intangible Assets 11.424 11.605 Cash 30.593 31.080 Other NC Assets 21.842 21.367 Net Debt 57.807 54.722 Non Current Assets 147.773 140.522 Net De
Slide 27: FY 2017 IFRS Financial Results: Cash Flow Summary
FY 2017 IFRS FINANCIAL RESULTS I CASH FLOW SUMMARY amounts in 000s € 2017 2016 Profit before Taxes & MI 13.834 18.327 Depreciation 12.952 12.255 Interest & related (income)/expense 5.439 5.833 Other (543) (698) Adjusted EBITDA 31.682 35.717 (Increase)/Decrease in WC (3.510) (6.499) Interest & Taxes
Slide 28: Net Debt / EBITDA
FY 2017 IFRS FINANCIAL RESULTS I NET DEBT 30 03 ▪ The high investment plan 25 03 that started in 2015 resulted 20 02 in increased Net Debt in CAPEX (EUR m) 15 02 2016 and 2017. 10 01 ▪ Net Debt/EBITDA remains 5 01 below 2x which is the max 0 00 set by the Group. 2009 2010 2011 2012 2013 2014 2015 20
Slide 29: FY 2017 IFRS Financial Results: Earnings per Share
FY 2017 IFRS FINANCIAL RESULTS I EARNINGS PER SHARE 2017 2016 Earnings Before Taxes 13.834 18.327 Income Tax 3.025 4.668 Minority Interest 258 275 Profit Attributable to Shareholders 10.551 13.384 Adjusted # of Shares 43.741 44.022 EPS (in euro) 0,2412 0,3040 CORPORATE PRESENTATION I 29 29
Slide 30: Group Financial Performance: Stock Data
GROUP FINANCIAL PERFORMANCE I STOCK DATA Stock Price & Volume 3.5 140 3.0 120 Vo l u me (thousan ds ) 2.5 100 C l o si ng P ri c e ( € ) 2.0 80 1.5 60 1.0 40 0.5 20 0.0 0 Volume Price Relative Performance (vs ASE index) 140 P ri c e R e lat ive i n d icat or 120 100 80 ASE GI PLAT Market Making: On
Slide 31: Corporate Governance: Board of Directors, Audit Committee
THRACE GROUP I CORPORATE GOVERNANCE BOARD OF DIRECTORS Constantinos Chalioris: Chairman & Group CEO Theodosios Kolyvas: Executive Vice-Chairman George Braimis: Executive Member & Group COO Dimitris Malamos: Executive Member & Group CFO Vassilis Zairopoulos: Non-Executive Member Christos Chiatis: Ind
Slide 32: Alternative Performance Measures I 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 33: Thrace Group 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 34: Contacts
Contacts Investors Relations Ioanna Karathanassi ikarathanasi@thraceplastics.gr +30 210 9875081 Group CFO Dimitris Malamos dmalamos@thraceplastics.gr +30 210 9875016 www.thracegroup.com CORPORATE PRESENTATION I 34 34