Slide 1: Samuel Sigrist, CE
Samuel Sigrist, CE Anne Erkens, C]
Slide 2: Disclaimer and cautionary statement
Disclaimer and cautionary statement The information contained in this presentation is not for use within any country a jurisletion or by any persons where such use would constitute a violation of law. If this applies to you, you are not authorisedto access or use any such information. This presentat
Slide 3: Overview 2023
Overview 2023 Samuel Sigrist, CEO
Slide 4: Business Highlights
Business Highlights Implementing our strategy and driving growth Strong 2023 revenue growth Aseptic carton organic growth of 7.4% primarily driven by price Strong volume growth in chilled carton in APAC Bag-in-box & spouted pouch growth of 5.6%) driven by volume and value- based pricing initiatives.
Slide 5: SIG continues to be an industry leader in sustainability
SIG continues to be an industry leader in sustainability ESG ratings 2023 - SIG consistently rated highly Science-based targets: + 2050 Net Zero target approved by Science Based Target initiative + SIG among first 325 companies to have its targets validated and approved 69 i100 New design for recycl
Slide 6: 2023 financial highlights
2023 financial highlights Strong financial performance Revenue € 3.23 billion +18.5% constant currency Aseptic carton organic revenue growth ) +7.4% constant currency Reported revenue growth +16.2% <9) ) Proforma, unaudited Adjusted EBITDA € 803M (2022: € 652 million) Adj. EBITDA margin 24.9% (2022:
Slide 7: Q4 2023 financial highlights
Q4 2023 financial highlights Strong organic revenue growth and margin improvement Revenue Adjusted Adjusted Net capital € 891.0 million EBITDA net income investment % € 22 €95 € 20 +5.6% 4M M M constant currency (Q4 2022: €193 million) (Q4 2022: €84 million) (Q4 2022: €75 million) % +8.0% Organic as
Slide 8: Strong revenue and adj. EBITDA margin recovery Regional Summary
Strong revenue and adj. EBITDA margin recovery Regional Summary ❖ ❖ ❖ ❖
Slide 9: Strong full year growth Regional Summary
Strong full year growth Regional Summary ❖ ❖ ❖ ❖
Slide 10: Growth recovery following muted Q1 Regional Summary
Growth recovery following muted Q1 Regional Summary ❖ ❖ ❖ ❖ ❖
Slide 11: Strong revenue growth and margin improvement Regional Summary
Strong revenue growth and margin improvement Regional Summary ❖ ❖ ❖ ❖ ❖
Slide 12: Financials
Financials Anne Erkens, CFO bett
Slide 13: Adjusted EBITDA as % of revenue
(1) Adjusted EBITDA as % of revenue (2) Includes adjusted EBITDA movement for bag in box & spouted pouch businesses until May 31, and adjusted EBITDA for the chilled carton business up until June 30
Slide 14: EBITDA reconciliation
EBITDA reconciliation € million 2023 2022 EBITDA 861 482 Adjustments to Ebitda: Unrealized (gain)/loss on operating derivatives (9) 39 Restructuring costs, net of reversals 6 B Transaction and acquisition-related costs 1 24 Integration costs 13 17 Realized gain on settlement of deal contingent deriv
Slide 15: Net income reconciliation
Net income reconciliation € million 2023 2022 Profit for the period 243 38 Non-cash foreign exchange impact of non-functional currency loans and realized foreign (1) (5) exchange impact due to refinancing Amortization of transaction costs 5 7 Net change in fair value of financing-related derivatives
Slide 16: Capital expenditure
Capital expenditure Investment in growth markets and high level of filler additions € million 2023 2022 PP&E and intangible assets (net of sales) 164 108 Filling lines and other related equipment 233 173 Capital expenditure 397 281 Upfront cash (146) (137) Net capital expenditure 251 144 % of revenu
Slide 17: Free cash flow
(a) Free cash flow Resilient cash generation despite increases in capex and interest payments €million or % 2023 2022 Net cash from operating activities 663 578 Acquisition of property, plant and equipment and intangible assets (net of sales) (7) (ay) Payment of lease liabilities (47) (35) Free cash
Slide 18: Leverage and financing
Leverage and financing Strong leverage reduction € million 2023 202210) Gross debt 2,458 2,684 Cash 281 504 Net debt 2,177 2,180 Net leverage ratio 2.7x 3.1x (4) Inthe calculation of the net leverage ratio as of December 31, 2022 adjusted EBITDA includes the adjusted EBITDA of bag-in- box, spouted p
Slide 19: ROCE update
ROCE update Adjusted to better reflect filling line co-investments and right-of-use assets (leases) ROCE EBITA Capital employed Adjusted EBITDA = Depreciation of PP&E (S) Depreciation of right-of-use assets (S) Amortization of capitalized development and IT costs ROCE (post 30% tax) Previous ROCE (p
Slide 20: 2024 financial guidance
2024 financial guidance ~ Revenue growth Low end of range = Resin escalator for bag- (constant currency) in-box & spouted pouch not included in guidance Adjusted EBITDA Within lower half of 4 range . . margin = Quidance subject to end-market recovery in . . H2, input cost and forex asm | 26-28% a =
Slide 21: Mid-term financial guidance
Mid-term financial guidance Confirmed ~ Revenue growth 46% Upper half of range " Best-in-class margins (constant currency) = Strong cash generation Adjusted EBITDA margin = Attractive pay-out policy with progressive Net CAPEX dividend growth (% revenue) casita, ~ 50-60% | (of adjusted net income) ee
Slide 22: Concluding remarks
Concluding remarks
Slide 23: SIG's distinctive model for superior value creation
SIG’s distinctive model for superior value creation Culture of innovation and sustainability. For better. Attractive industry Systems-based Industry-leading Strong and end markets SS business model innovations y value creation % ¢4 Structural drivers i chomosreY Aseptic technology Above market growt
Slide 24: Thank you!
Thank you!
Slide 25: Appendix
Appendix
Slide 26: Adjusted EBITDA as % of revenue
(1) Adjusted EBITDA as % of revenue