Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q3 2021 Earnings Presentation
13 slides from Frigoglass S.a.i.c's earnings presentation, Nov 18, 2021
Slide 1: Results Presentation Third-quarter 2021
Results Presentation Third-quarter 2021 2019 18 November 2021
Slide 2: Forward Looking statements
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 regarding
Slide 3: Operational Review
Operational Review Nikos Mamoulis, CEO 32
Slide 4: Strong performance in a challenging cost environment
Strong performance in a challenging cost environment Q3 2021 highlights Strong demand recovery in both segments with Glass exceeding pre-pandemic levels EBITDA margin enhancement despite elevated raw material and logistic costs Advance payment from co-insurance scheme Successful production ramp-up i
Slide 5: Strong growth across all regions in Commercial Refrigeration
Strong growth across all regions in Commercial Refrigeration Demand growth supported by sustained beverage consumption trends East Europe: Solid Commercial Refrigeration Sales by Geography recovery, cycling weak comparatives; Strong (in €m) orders in Poland, Ukraine and Hungary 63.3 60 5.1 8.7 4.2 W
Slide 6: Accelerated FX-neutral Glass business sales growth
Accelerated FX-neutral Glass business sales growth FX-neutral sales up by 72% y-o-y and 52% vs Q3 2019 pre-pandemic level Glass containers: strong Glass Operations Sales double-digit volume (in €m) growth, led by breweries 35 and spirits; price 30 3.7 (3.8) initiatives offset Naira’s 28.4 25 devalua
Slide 7: Financial Review
Financial Review Financial Manos Review Metaxakis, CFO 32
Slide 8: Q3 2021 financial performance overview
Q3 2021 financial performance overview Commercial Refrigeration Operations Glass Operations (in €m) Q3 2021 Q3 2020 Chng, % (in €m) Q3 2021 Q3 2020 Chng, % Sales 63.3 42.8 47.9% Sales 28.4 18.3 55.2% EBITDA 4.5 2.2 >100% EBITDA 8.0 4.1 97.4% EBITDA margin, % 7.1% 5.2% 1.9pp EBITDA margin, % 28.2% 22
Slide 9: Group's financial performance overview
Group’s financial performance overview (in €m) Q3 2021 Q3 2020 Chng, % Sales 91.6 61.1 50.1% EBITDA 12.5 6.3 99.1% EBITDA margin, % 13.7% 10.3% 3.4pp EBIT 8.1 0.3 >100% Net Profit 7.3 -7.7 n.m. (in €m) 9M 2021 9M 2020 Chng, % Sales 293.2 269.7 8.7% EBITDA 41.9 35.6 17.6% EBITDA margin, % 14.3% 13.2%
Slide 10: Sustained cash flow generation
Sustained cash flow generation Adjusted Free Cash Flow1 YTD September Adjusted Free Cash Flow1 (in €m) 14 €9m, +€2m y-o-y 12 6.3 (13.9) • Increased operating profitability 10 9.5 • Capital expenditure prioritization 7.7 3.0 8 • Impacted by a net trade working capital outflow 6 • Increase in trade de
Slide 11: Business Outlook
Business Outlook Financial Nikos Mamoulis, Review CEO 32
Slide 12: Business outlook
Business outlook Mid single-digit sales growth in Commercial Refrigeration Double-digit sales growth in Glass Price adjustments and cost reduction measures to offset cost inflation Slight EBITDA margin expansion despite elevated raw material and logistic cost Capex remains at €15m Maintain solid liq
Slide 13: Q&A
Q&A For further information on Frigoglass please visit our website at: www.frigoglass.com Or contact: John Stamatakos | Head of Treasury & Investor Relations jstamatakos@frigoglass.com +30 210 61 65 767 1