Slide 1: H1 2024 Results Presentation
H1 2024 RESULTS PRESENTATION
Slide 2: Contents
CONTENTS OUTLOOK H1 2024 3 H1 2024 - RESULTS 5 2
Slide 3: Outlook
OUTLOOK Confirming the positive outlook for FY 2024, maintaining current EBITDA margin levels and showing an improvement in cash generation, already evident in the first semester. o Investments: New machinery dedicated to closure systems for body-care will be operational in H2 2024, increasing reven
Slide 4: Contents
CONTENTS OUTLOOK H1 2024 3 H1 2024 - RESULTS 5 4
Slide 5: H1 2024 - KPIs
H1 2024 - KPIS REVENUES EBITDA ADJUSTED(1) € mln € mln NFP ADJUSTED(1) EBITDA MARGIN ADJUSTED(1) € mln € mln, % Revenues Notes: (1) Adjustments mainly related to IFRS 16 effect with elimination of lease payments and a finance lease transaction, see p.13 for details. 5
Slide 6: Revenues Breakdown
REVENUES BREAKDOWN REVENUES BY PRODUCT REVENUES BY GEOGRAPHIC AREA € mln € mln 6
Slide 7: Breakdown of Sales by Product H1 2024
BREAKDOWN OF SALES BY PRODUCT H1 2024 € mln Tapes Closure systems for body-care Other PRINTED TAPE AND SIDE TAPE, THE HIGHEST-MARGIN PRODUCTS, ARE THE BEST-SELLING PRODUCTS IN TERMS OF VALUE 7
Slide 8: Net Working Capital
NET WORKING CAPITAL NET WORKING CAPITAL € mln ▪ DSO: Limited increase in trade receivables due to the new customer mix, but all remains under control. ▪ DPO: Controlled decrease in trade payables due to strategic management of payment delays to supplier, fostering commercial conditions. ▪ Inventorie
Slide 9: NFP Evolution 2023 – H1 2024
NFP EVOLUTION 2023 – H 1 2024 NFP ADJ(1) BRIDGE 2023 € mln NFP ADJ(1) BRIDGE H1 2024 € mln Notes: (1) Adjustments mainly related to IFRS 16 effect with elimination of lease payments and a finance lease transaction, see p.13 for details. 9 Source: Management
Slide 10: P&L H1 2024 - ITA GAAP
P&L H1 2024 - ITA GAAP PROFIT AND LOSS ACCOUNT H1 2023 H1 2024 Revenues from sales and services 41.587.284 42.425.530 Changes in inventories of work in progress, semi-finished and finished products (91.845) 440.319 Increases in fixed assets for internal work - 201.206 Other revenues and income 708.9
Slide 11: Balance Sheet H1 2023 - ITA GAAP
BALANCE SHEET H1 2023 - ITA GAAP Balance Sheet 2023A 1H 2024 € '000 % NIC € '000 % NIC Intangible fixed assets 3.248 3.359 Tangible fixed assets 19.457 19.849 Finacial fixed assets 5 5 Total fixed assets 22.710 69% 23.213 69% Inventories 11.822 14.399 Trade receivables 14.837 17.724 Trade payables (
Slide 12: Cash Flow H1 2024
CASH FLOW H1 2024 Cash flow 2023A H1 2024 EBIT 11.980 6.560 Current, deferred and prepaid income taxes for the year (2.771) (1.592) Ammortisation, depreciation and write downs 2.791 1.434 - ∆ NWC (996) (2.836) ∆ Funds 28 8 Operating cash flow 11.032 3.574 - Capex (1.718) (1.938) Intangible Capex (17
Slide 13: Adjustments Summary: IFRS 16
ADJUSTMENTS SUMMARY: IFRS 16 ADJUSTED EBITDA AJDUSTED NET FINANCIAL POSITION Adjustments EBITDA Adjustments PFN € '000 H1 2023 H1 2024 € '000 2023A H1 2024 EBITDA Reported 7.869 7.994 Bank and postal deposit (17.100) (16.103) IFRS 16 effect - elimination of lease payments 379 379 Cash and cash equiv