Slide 1: Q1 2022 Results
FLUIDRA FLUIDRA BOIMAUP7ZE NEUES May 5% 2022
Slide 2: Disclaimer
Q1 RESULTS 2022 Disclaimer ● This document is for information purposes only and does not constitute an offer to sell, exchange or buy, or an invitation to make offers to buy, securities issued by any of the companies mentioned. This financial information has been prepared in accordance with internat
Slide 3: Today's Speakers
Q1 RESULTS 2022 Today’s Speakers Eloi Planes Bruce Brooks Xavier Tintoré Executive Chairman CEO CFTO 05/05/2022 3
Slide 4: Key Messages
Q1 RESULTS 2022 Key Messages 1. Solid Q1 results, driven by strong demand, price actions and M&A run rate. 2. Fundamentals of the business remain positive led by New Build activity. 3. Supply chain management and flexibility to adapt and increase capacity enabled Fluidra to service customers and ach
Slide 5: YTD Financial Highlights
Q1 RESULTS 2022 YTD Financial Highlights Solid Cash EPS Growth Despite Inflationary Environment • Solid Sales growth in Q1 over a record Q1 2021, boosted by New Build activity, Evol. Const. FX & price and perimeter expansion, despite YTD €M 2021 2022 22/21 Perimeter supply chain challenges. Sales 50
Slide 6: Highlights of the Quarter
Q1 RESULTS 2022 Highlights of the Quarter ESG “Responsibility Blueprint” Plan for Accretive Capital Allocation Business Evolution 2020-2026 • Earnings growth and cash generation supports • 30%+ capacity expansion to meet customer • Reduction of Scope 2 emissions in 2021 by M&A and increasing shareho
Slide 7: Sales by Geography
Q1 RESULTS 2022 Sales by Geography Strong Organic Demand in Southern Europe Complemented by M&A Contribution • Southern Europe, excellent performance across all regions led by Spain. % % Evol. Const. FX & YTD €M 2021 2022 Sales Sales 22/21 Perimeter • Rest of Europe, difficult Q1 2021 comp and volat
Slide 8: Sales by Business Unit
Q1 RESULTS 2022 Sales by Business Unit Solid Growth Across Segments • Residential Pool performed nicely backed by continuous robust demand and inorganic activity. % % Evol. Const. FX & YTD €M 2021 2022 Solid growth across most large Sales Sales 22/21 Perimeter categories of products (Filters, Pool &
Slide 9: YTD Results
Q1 RESULTS 2022 YTD Results Inflation Impacted Margins and Operating Leverage, Partially Offset by Pricing Initiatives • Solid Sales growth in Q1. % % Evol. • Gross Margin impacted by extraordinary YTD €M 2021 2022 Sales Sales 22/21 inflation and mix, partially compensated by Sales 508.4 100% 666.7
Slide 10: Cash Flow and Net Debt YTD
Q1 RESULTS 2022 Cash Flow and Net Debt YTD Strong Cash Flow Generation Enables Investment in Inventory YTD €M 2021 2022 € Evol. 22/21 Reported EBITDA 127.8 165.6 37.9 • Operating Cash Flow impacted by higher investment in Inventory to Net Interest Expense Paid (8.3) (11.0) (2.7) prepare for the pool
Slide 11: Outlook and 2022 Guidance
Q1 RESULTS 2022 Outlook and 2022 Guidance 1. April delivering in line with expectations, with Company maintains guidance for FY 2022: a difficult comp due to COVID comparison, Texas Freeze and a lower number of working days. 2022 Comments Guidance 2. Positive momentum continues for New Builds + Mid
Slide 12: Conclusions
Q1 RESULTS 2022 Conclusions 1. Solid Q1 results. Builders’ backlog, price actions and run rate of M&A provide solid foundation for 2022. 2. Industry prospects remain strong aided by: • Outdoor living and migration to the south / warmer regions. • Larger number of installed pools will pay-off in the
Slide 13: Appendix
Q1 RESULTS 2022 Appendix Q1 2022 RESULTS 05/05/2022 13
Slide 14: (I) Sales by Geography
Q1 RESULTS 2022 (I) Sales by Geography Constant Const. FX & YTD Evol. 22/21 Const. FX Perimeter Perimeter Southern Europe 25.3% 25.3% 25.0% 25.0% Rest of Europe 5.0% 4.5% 3.8% 3.4% North America 49.3% 38.8% 16.5% 8.3% Rest of the World 29.8% 25.4% 23.4% 19.2% Total 31.1% 26.8% 17.6% 13.9% 05/05/2022
Slide 15: (II) Reported Profit & Loss Account YTD
Q1 RESULTS 2022 (II) Reported Profit & Loss Account YTD €M 2021 % Sales 2022 % Sales Evol. 22/21 Sales 508.4 100% 666.7 100% 31.1% Gross Margin 272.4 53.6% 352.2 52.8% 29.3% Opex before Dep. & Amort. 144.6 28.5% 186.6 28.0% 29.0% Reported EBITDA 127.8 25.1% 165.6 24.8% 29.7% D&A 28.0 5.5% 35.6 5.3%
Slide 16: (III) Reconciliation to Reported EBITDA YTD
Q1 RESULTS 2022 (III) Reconciliation to Reported EBITDA YTD €M 2021 2022 Evol. 22/21 EBITDA 134.8 169.5 25.8% Integration Related Non-Recurring Expense (3.5) (0.6) (81.4%) Other & FX impact on Non-Recurring Expense 0.1 (0.2) (397.2%) Stock Based Compensation (3.6) (3.0) (14.6%) Run Rate Synergies (0
Slide 17: (IV) Reconciliation of Reported to Cash Net Profit and Cash EPS YTD
Q1 RESULTS 2022 (IV) Reconciliation of Reported to Cash Net Profit and Cash EPS YTD €M 2021 2022 Evol. 22/21 Reported Net Profit from Continued Operations 67.3 75.4 12.0% Integration Related & Other Non-Recurring Expense 3.4 0.9 (74.6%) Stock Based Compensation 3.6 3.0 (14.6%) Run Rate Synergies 0.1
Slide 18: (V) Reported Balance Sheet
Q1 RESULTS 2022 (V) Reported Balance Sheet Assets 03/2021 03/2022 Liabilities 03/2021 03/2022 PPE & Rights of Use 254.7 333.7 Share Capital 195.6 195.6 Goodwill 1,218.8 1,330.2 Share Premium 1,148.6 1,148.6 Other Intangible Assets 710.5 902.9 Retained Earnings 303.6 508.7 Other Non-Current Assets 10
Slide 19: Thanks For Your Attention
Thanks For Your Attention +34 93 724 39 00 Investor_relations@fluidra.com Avda. Alcalde Barnils 69 - 08174 Sant Cugat (Barcelona) www.fluidra.com