Alpek, S.a.b. De C.v. Class A · BMV:ALPEK/A
Alpek, S.a.b. De C.v. Class A — Alpek Sab De Cv Ord — Q4 2024 Earnings Presentation
17 slides from Alpek, S.a.b. De C.v. Class A's earnings presentation, Feb 18, 2025
Slide 1: Fourth Quarter and Full Year 2024 Earnings Webcast
FOURTH QUARTER AND FULL YEAR 2024 Earnings Webcast 2
Slide 2: Today's Speakers
TODAY’S SPEAKERS JORGE YOUNG JOSÉ CARLOS PONS BÁRBARA AMAYA CEO CFO IRO 3
Slide 3: Today's Agenda
TODAY’S AGENDA 1 Full-Year Overview 2 Key Initiatives 3 Financial Performance 4 2025 Outlook & Priorities 5 Q&A 4
Slide 4: 2024 Review
2024 REVIEW • Exceeded both original and revised Comparable EBITDA Guidance • Focused on deleveraging through Cash Flow Generation & Disciplined Capital Allocation • Positioned to navigate the market conditions as the industry gradually continues to recover 5
Slide 5: Cost Reduction Initiatives
COST REDUCTION INITIATIVES Priorities • Improving operative performance • Reducing fixed & variable costs $100M • Optimizing footprint by 3Q25 $75M • EPS Footprint Optimization • Polyester Footprint Optimization • Improved Power Supply Agreements • Organizational Restructuring COMPLETED IN PROGRESS
Slide 6: Financial Results
FINANCIAL RESULTS 7
Slide 7: 2024 Financial Results
2024 FINANCIAL RESULTS VOLUME COMPARABLE EBITDA 4Q24 Volume 1,124 ktons +2% Stable demand 5,065 4,635 4,745 Exceeded 1396 Guidance 4Q24 Comp. EBITDA by 17% $168 million Strong reference margins 734 699 646 Dividend Yield 9% Higher than historical 2022 2023 2024 2022 2023 2024 average Reported EBITDA
Slide 8: Polyester
POLYESTER VOLUME COMPARABLE EBITDA • Volume +2% YoY due to +2% Reported EBITDA -18% sustained demand levels. 907 995 926 155 122 100 • Comparable EBITDA 59 decreased by 18% YoY. 4Q23 3Q24 4Q24 4Q23 3Q24 4Q24 PX PRICES REFERENCE MARGINS -13% +3% 1,235 1,235 297 305 285 1,055 1,073 985 879 166 170 155
Slide 9: Plastics & Chemicals
PLASTICS & CHEMICALS VOLUME COMPARABLE EBITDA • Volume growth supported +3% +51% Reported EBITDA by strong regional demand. 193 222 198 63 65 43 46 • Comp. EBITDA improved, as reference margins improved sequentially, particularly for 4Q23 3Q24 4Q24 4Q23 3Q24 4Q24 EPS. POLYPROPYLENE EPS Propylene Pri
Slide 10: Free Cash Flow Generation
FREE CASH FLOW GENERATION 170 53 1,884 1,729 646 2024 HIGHLIGHTS 84 37 78 155 224 $121M Total CAPEX $104M Operating FCF $104M Operating FCF Net Debt EBITDA NWC Financial Taxes CAPEX CAPEX Dividends Other Net Debt Dec 2023 Expenses Maint. Strat. Dec 2024 All amounts in millions of U.S. dollars unless
Slide 11: Net Debt & Leverage
NET DEBT & LEVERAGE Net Debt Leverage 22% (Times) Reduction +4% from 1Q 1,884 3.7 3.3 3.1 1,807 1,814 2.9 Determined to reaching 2.5x target 1,726 1Q24 2Q24 3Q24 4Q24 1Q24 2Q24 3Q24 4Q24 All amounts in millions of U.S. dollars unless otherwise noted 12
Slide 12: 2025 Guidance
2025 GUIDANCE 2025 CHANGE METRICS UNITS 2024 GUIDANCE (VS. 2024) Asia PTA/PET Margin US$/Ton 270 297 -9% MARKET China PTA/PET Margin US$/Ton 160 159 +1% Polypropylene Margin CPP 14 15 -7% Volume Mtons 4.8 4.7 +2% FINANCIALS Comparable EBITDA1 US$M 625 699 -11% CAPEX US$M 150 121 +25% Net Sales US$B
Slide 13: 2025 Priorities
2025 PRIORITIES 1. Additional structural cost reductions 2. Focus on cash flow generation and strengthening the balance sheet 14
Slide 14: oe et EOS
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Slide 15: Q&A
Q&A JORGE YOUNG JOSÉ CARLOS PONS CEO CFO 16
Slide 16: Investor Relations
INVESTOR RELATIONS BÁRBARA AMAYA ALEJANDRA BUSTAMANTE IRO | Strategic Planning Director | IR Manager Corporate Finance Director bamaya@alpek.com abustamante@alpek.com VISIT ALPEK.COM OR CONTACT US FOR ADDITIONAL INFORMATION: IR@ALPEK.COM 17
Slide 17: Fourth Quarter and Full Year 2024 Earnings Webcast
FOURTH QUARTER AND FULL YEAR 2024 Earnings Webcast 18