Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q2 2021 Earnings Presentation
16 slides from Frigoglass S.a.i.c's earnings presentation, Aug 5, 2021
Slide 1: Results Presentation Second-quarter 2021
Results Presentation Second-quarter 2021 2019 5 August 2021
Slide 2: Forward Looking statements
Forward Looking statements This presentation may contain forward-looking statements which are based on current expectations and assumptions about future events. All statements other than statements of historical fact included in this presentation, including, without limitation, statements regarding
Slide 3: Operational Review
Operational Review Nikos Mamoulis, CEO 32
Slide 4: Solid performance in a recovery quarter
Solid performance in a recovery quarter Q2 2021 highlights Significant increase in cooler placements and glass container volume Solid EBITDA margin improvement June’s fire incident in our plant in Romania; assets write-offs and related expenses Strong adj. Free Cash Flow in Q2 Solid liquidity Succes
Slide 5: Increased demand driving Commercial Refrigeration sales
Increased demand driving Commercial Refrigeration sales Demand growth supported by the gradual easing of COVID-19 restrictive measures East Europe: Significant Commercial Refrigeration Sales by Geography sales recovery, cycling weak comparatives; Strong (in €m) 100 orders in Russia and Hungary (0.6)
Slide 6: FX-neutral Glass business sales increased by 67%
FX-neutral Glass business sales increased by 67% Sustained volume recovery in glass containers and plastics; crowns returned to growth Strong double-digit Glass Operations Sales volume growth in the glass (in €m) container business 30 25 2.6 (5.3) 21.2 20 8.4 Increased orders in Plastic 15.6 15 Crat
Slide 7: Financial Review
Financial Review Financial Manos Review Metaxakis, CFO 32
Slide 8: Q2 2021 financial performance overview
Q2 2021 financial performance overview Commercial Refrigeration Operations Glass Operations (in €m) Q2 2021 Q2 2020 Chng, % (in €m) Q2 2021 Q2 2020 Chng, % Sales 84.5 57.2 47.7% Sales 21.2 15.6 36.5% EBITDA 9.7 7.0 39.8% EBITDA 5.2 1.8 >100% EBITDA margin, % 11.5% 12.2% -0.6pp EBITDA margin, % 24.5%
Slide 9: Group's financial performance overview
Group’s financial performance overview (in €m) Q2 2021 Q2 2020 Chng, % Sales 105.7 72.8 45.3% EBITDA 15.0 8.8 69.7% EBITDA margin, % 14.1% 12.1% 2.0pp EBIT 10.5 3.9 >100% Net Profit -12.2 -3.9 n.m. (in €m) H1 2021 H1 2020 Chng, % Sales 201.6 208.7 -3.4% EBITDA 29.4 29.4 0.1% EBITDA margin, % 14.6% 1
Slide 10: Solid Cash Flow generation in Q2
Solid Cash Flow generation in Q2 Adjusted Free Cash Flow1 (in €m) Q2 Adjusted Free Cash Flow1 €5m, +€9m y-o-y 7 5.3 5.4 • Higher operating profitability 5 5.1 8.5 • Strong focus on enhancing liquidity by prioritising capital expenditure largely 14.1 3 towards maintenance and efficiency 2.1 improveme
Slide 11: Business Outlook
Business Outlook Financial Nikos Mamoulis, Review CEO 32
Slide 12: Fire incident in Romania
Fire incident in Romania Strong execution of Business Continuity Plan Insurance Claim Russia ramp-up SKD production Rebuild plant • List with damaged • Quality Control of • Industrial space • EPCM contractors fixed assets and Romania’s raw rented in Romania already contacted inventory nearly materia
Slide 13: Successful completion of furnace rebuild project in Nigeria
Successful completion of furnace rebuild project in Nigeria Larger furnace enables Frigoglass to capture long-term growth in West Africa Growth Overpass Delivered 41 days Platform COVID-19 headwinds ahead of schedule Extra Quarantine days Color change on 196 Overseas engineers adjacent furnace visas
Slide 14: ICOOL
ICOOL XXX Second-quarter Results August 2021 6
Slide 15: Business outlook
Business outlook Global economic recovery remains uncertain Challenges following the fire incident in Romania Sales growth in Commercial Refrigeration Double-digit sales growth in Glass EBITDA growth Capex remains at €15m Maintain liquidity Second-quarter Results August 2021 15
Slide 16: Q&A
Q&A For further information on Frigoglass please visit our website at: www.frigoglass.com Or contact: John Stamatakos Head of Treasury & Investor Relations jstamatakos@frigoglass.com +30 210 61 65 767 1