Aquafil Spa · MIL:ECNL
Aquafil Spa — Mid & Small in London (April 2023)
37 slides from Aquafil Spa's conference presentation, Apr 19, 2023
Slide 1: Investor Presentation - Mid & Small in London
Investor Presentation [ECNL:IM] - [ECNLF: OTCQX] Mid & Small in London London, 19° April 2023
Slide 2: Aquafil is Market Leader in Nylon
Aquafil is Market Leader in Nylon % on FY22 REVENUES Carpet yarn Textile yarn Polymers • Contract • Apparel • Industrial • Residential 71% • Swimwear 21% Molding 8% • Automotive • Sportwear 70 % 8%
Slide 3: And Market Leader Worldwide
And Market Leader Worldwide % on FY22 REVENUES USA Europe Asia Pacific 29,5% 54,5% 16%
Slide 4: From Family Business To Global Sustainability Champion
From Family Business To Global Sustainability Champion 20 Plants, 9 Countries on 3 Continents Ca. 2,800 Employees € 684,1 Million of Revenues FY22 € 92,3 Million EBITDA FY22 43,5% ECONYL® fiber turnover
Slide 5: Aquafil Group
Aquafil Group USA UK THAILAND Cartersville (Georgia) Kilbirnie Rayong Aquafil USA 1 Aquafil UK Aquafil Asia Pacific Phoenix (Arizona) SLOVENIA JAPAN ITALY Aquafil Carpet Recycling Ljubljana Tokyo Arco (TN) ACR#1 Aquafil Japan Aquafil (Headquarter) Aquafil Carpet Collection AquafilSLO ACC Senožeče CH
Slide 6: Aquafil Brand Manifesto - Our Vision
Aquafil Brand Manifesto - Our Vision At Aquafil, we design better to do better. We are conscious innovators. We think as beginners and act as pioneers to provide unique products and services that leverage performance and reduce the impact on a global scale. We are thoughtful listeners. We step out o
Slide 7: Leading the Circular Economy Revolution
Leading the Circular Economy Revolution Developed of the Group current business Our path to circularity began in 1990, when the Group started Linear Recycling Circular recovering “lactamic waters” produced during the polymerisation process. Since then, we have invested time and money to “close the E
Slide 8: Company Strengths
Company Strengths A successful Business Pioneer of Circularity Glocal. Model. Proprietary with the ECONYL® A Global Company technology with Regeneration System, with continuous R&D producing sustainable local productions. innovation. Manufacturing fibers and polymers from and operational excellence
Slide 9: ECONYL Regeneration System
ECONYL® Regeneration System • ECONYL® nylon is 100% coming from waste. No fossil oil used! • It has the same quality and performance as standard nylon. Infinitely regenerable! • Unique proprietary technology. • Global warming potential reduced up to 90% if compared with traditional oil-based raw mat
Slide 10: ECONYL: Our Source Of (Sustainable) Competitive Advantage
ECONYL ® : Our Source Of (Sustainable) Competitive Advantage
Slide 11: Waste In
WASTE IN ECONYL® nylon is made from waste otherwise destined for the landfill
Slide 12: No Waste Out
rf NO WASTE OUT
Slide 13: Our Main 2025 Environmental Targets
Our Main 2025 Enviromental Targets 60% Of Revenues Generated By Fibers From ECONYL® Branded Products 35,000 Tons Of Post consumer Waste Collected Annually Water Consumption Reduced By 30% Compared To 2018
Slide 14: Our path to Sustainability
Our path to Sustainability RETHINKING PRODUCTS IN A CIRCULAR PERSPECTIVE Innovating products to make them more Since 2008, we have formalized our commitment in our ECO PLEDGE®, and more circular, giving new life to waste a set of five principles that guide and inspire all the work of the Group. mate
Slide 15: Our Top Achievements
Aquafil is a top Italian After joining the Circular Economy Ellen McArthur Our Top Achievements excellence according to Symbola and Enel’s Foundation in 2020, our Group report, “100 Italian joined the Circular Economy Plastics Stories”. Recyclers Europe ESG goals association. Aquafil contributes to
Slide 16: Financial Results
Financial Results
Slide 17: FY22 – Key Message
FY22 – Key Message FY22 General Results Year 2022 better profitability of ever • Revenues +20,1% vs FY21 • EBITDA +28% vs FY21 ECONYL® Branded Products • Revenues up by 52,0% vs FY21 • 43,5% of revenues generated by fibers SUSTAINABILITY PLAN CONTINUATION OF PROCESS TO UPDATED ACQUIRE MAJORITY INTER
Slide 18: FY22 – Main Result
FY22 – Main Result REVENUES EBITDA NET PROFIT NFP 2022 2021 Δ% 2022 2021 Δ% 2022 2021 Δ 31.12.22 31.12.21 Δ FY 684,1 569,7 20,1% FY 92,3 72,1 28,0% FY 29,2 10,7 18,5 FY (247,9) (179,3) (68,6) % on Revenues 13,5% 12,7% % on Revenues 4,3% 1,9% 4Q 154,2 150,4 2,5% 4Q 19,1 12,5 52,5% 4Q 3,0 (3,6) 6,6 %
Slide 19: Revenues - Breakdown by Product Line
Revenues Breakdown by Product Line
Slide 20: Revenues - Breakdown by Area
Revenues Breakdown by Area FY - % Revenues by Geographical Area 2022 2021 EMEA fi NorthAmerica mi Asia e Oceania 4Q - % Revenues by Geographical Area 2022 2021 mEMEA m@NorthAmerica mi Asia e Oceania
Slide 21: Revenues - ECONYL regenerated nylon
Revenues ECONYL® regenerated nylon Strong growth +52% vs FY21 due to price increase and higher quantities
Slide 22: P&L – KPI
P&L – KPI €/mil FY 4Q 2022 2021 ∆ 2022 2021 ∆ REVENUES 684,1 569,7 114,4 154,2 150,4 3,8 EBITDA 92,3 72,1 20,2 19,1 12,5 6,6 % on net sales 13,5% 12,7% 12,4% 8,3% EBIT 37,6 21,5 16,1 5,2 (0,9) 6,0 % on net sales 5,5% 3,8% 3,3% -0,6% EBT 36,9 14,6 22,3 3,9 (3,4) 7,2 % on net sales 5,4% 2,6% 2,5% -2,2
Slide 23: NFP – NFP on EBITDA
NFP – NFP on EBITDA • NFP on 31st December 2022 equal to (247,9) €/mil, higher of ca 68,6 €/mil compared to 31st December 2021 • Ratio NPF/EBITDA LTM at 2,69x
Slide 24: NFP
NFP Increase of NWC mainly driven by inventory NWC growth driven by increase of inventory value due to: • higher unitary cost of raw material • increase of quantities
Slide 25: Outlook
Outlook In 2022, the Aquafil Group proved its ability to achieve excellent results even in difficult economic contexts. The Aquafil Group's markets of reference will remain subject to considerable volatility in 2023 due to the constant, ongoing evolution of the macroeconomic and geopolitical scenari
Slide 26: Corporate Governance
Corporate Governance Giulio Bonazzi Franco Rossi Margherita Zambon Chairman and CEO Director Director (1) (6) (1) Director who has declared that he satisfies the independence requirements pursuant to Articles 147-ter, paragraph 4 of the Consolidating Law on Finance, as well as Article 3 of the Code
Slide 27: Ownership Structure
Ownership Structure A capital structure with 2 type of Shares: a) Share A: ordinary share; b) Share B: dedicated to Giulio Bonazzi family with the same economic right of ordinary share but with 3 voting right for any share;
Slide 28: Definition
Definition «FIRST CHOICE REVENUES» NFP “First choice revenues” are revenues generated by the sale of fiber and polymers, gross of any adjustments (for example, discounts This was calculated as per Consob Communication of July 28, 2006 and allowances), but excluding revenues generated by “non-first a
Slide 29: Consolidated Income Statements
Appendix Consolidated Income Statements CONSOLIDATED INCOME STATEMENT December of wich December of wich Fourth of wich Fourth of wich €/000 2022 non-current 2021 non-current Quarter 2022 non-current Quarter 2021 non-current Revenue 684.074 1.160 569.701 784 154.169 311 150.391 197 of which related p
Slide 30: Consolidated Income Statements – Revenues FY22
Appendix Consolidated Income Statements – Revenues FY22 FY22 BCF (fiber for carpet) NTF (fiber for fabric) Polymers Total €/mil 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% % 22 % 21 EMEA 217,9 186,3 34,5 18,5 % 103,3 90,2 17,0 18,8 % 51,8 68,8 (13,3) (19,4)% 372,9 345,4 38,1 11,0 % 5
Slide 31: Consolidated Income Statements – EBITDA & EBITDA Adj
Appendix Consolidated Income Statements – EBITDA & EBITD Adj (*) The financial items include: (i) financial income of Euro 4.9 million (ii) financial charges and other bank charges of Euro (8.4) million, (iii) cash discounts of Euro (3.8) million, and (iv) exchange gains of Euro 2.8 million. (**) Th
Slide 32: Consolidated Balance Sheet (1)
Appendix Consolidated Balance Sheet (1)
Slide 33: Consolidated Balance Sheet (2)
Appendix Consolidated Balance Sheet (2)
Slide 34: Net Financial Debt
Appendix Net Financial Debt NET FINANCIAL DEBT At December 31, At December 31, €/000 2022 2021 A. Liquidity 110.682 152.656 B. Cash and cash equivalents C. Other current financial assets 9.964 860 D. Liquidity (A + B + C) 120.646 153.516 E. Current financial debt (including debt instruments but excl
Slide 35: Consolidated Cash Flow Statement (1)
Appendix Consolidated Cash Flow Statement (1)
Slide 36: Consolidated Cash Flow Statement (2)
Appendix Consolidated Cash Flow Statement (2)
Slide 37: Investors Contact: Karim Tonelli - CPO & IR
www.aquafil.com www.econyl.com www.dryarn.com Investors Contact: Karim Tonelli - CPO & IR karim.tonelli@aquafil.com Mob: +39 3486022950