Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — FY2019 Earnings Presentation
12 slides from Frigoglass S.a.i.c's earnings presentation, Mar 19, 2020
Slide 1: Results Presentation: Fourth-quarter & full-year 2019
2019 Results Presentation Fourth-quarter & full-year 2019 19 March 2020
Slide 2: Forward Looking statements
2019 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 regar
Slide 3: Full-year 2019 highlights
2019 Full-year 2019 highlights Solid Commercial Refrigeration sales growth (+16.8% y-o-y) Double-digit sales growth in Glass (+11.9% y-o-y) Comparable EBITDA margin up 130bps to 14.9% Net profit of €5.6 million, from net loss of -€8.7 million in 2018 Comparable adjusted free cash flow up 5
Slide 4: Fourth-quarter 2019 highlights
2019 Fourth-quarter 2019 highlights Results in line with expectations Sustained growth momentum in Commercial Refrigeration Glass sales up 5%, driven by pricing and Nigeria’s Naira appreciation Stable comparable EBITDA margin, at 9% Fourth-quarter & full-year Results March 2020 4
Slide 5: ICM: Strong growth in Europe and Asia
2019 ICM: Strong growth in Europe and Asia 4Q Commercial Refrigeration sales by region (in €m) +32% 187 142 +11% 93 84 -15% 62 52 +28% 36 28 4Q18 4Q19 4Q18 4Q19 4Q18 4Q19 4Q18 4Q19 East Europe West Europe Africa & ME Asia Fourth-quarter & full-year Results March 2020 5
Slide 6: Glass: Continued growth momentum
2019 Glass: Continued growth momentum 4Q Glass sales (in €m) 28 +1 +1 -1 29 Glass Metal Plastic 4Q18 4Q19 Containers Crowns Crates Pricing and stronger Nigerian Naira Continued growth momentum in metal crowns Demand for plastic crates remained soft Fourth-quarter & full-year Results March 2020
Slide 7: Financial Review
2019 SECTION 4 Financial Review Section 4 2019 32
Slide 8: Financial performance overview
2019 Financial performance overview Commercial Refrigeration Operations 4Q19 4Q18 Change, % FY19 FY18 Change, % (in €m) Sales 68.5 61.3 11.8% 368.4 315.5 16.8% Comparable EBITDA1 -1.5 -0.5 n.m. 36.7 26.5 38.4% Comparable EBITDA margin, %1 -2.2% -0.8% -1.4pp 10.0% 8.4% 1.6pp Net Profit -8.3 -8.9 n.m.
Slide 9: Strong cash flow generation
2019 Strong cash flow generation Key Free Cash Flow elements (in €m) FY19 FY18 Change Comparable EBITDA1 71.7 56.4 15.2 Net Trade Working Capital Change -23.3 20.3 -43.6 Capital Expenditure -30.5 -36.2 5.7 Comparable Adjusted Free Cash Flow2 19.5 12.6 6.9 Net Debt / EBITDA 3.1x 4.0x Net Trade Workin
Slide 10: Business Outlook
2019 SECTION 4 Business Outlook Section 4 2019 32
Slide 11: A challenging year ahead
2019 A challenging year head Highly volatile market environment due to COVID-19 outbreak 1Q20 in-line with expectations Full impact and duration of the COVID-19 outbreak is unknown at this time No meaningful impact on orders and minimal interruption in supply chain so far 2-to-3 months delay
Slide 12: Q&A
Q&A 2019 For further information on Frigoglass please visit our website at: www.frigoglass.com Or contact: John Stamatakos Group Treasury & IR Manager jstamatakos@frigoglass.com +30 210 61 65 767 1