Thrace Plastics Holding And Commercial S.a. · ATHEX:PLAT
Thrace Plastics Holding And Commercial — Thrace Group — Investor Presentation (June 2020)
37 slides from Thrace Plastics Holding And Commercial's investor presentation, June 2020
Slide 1: Corporate Presentation
CORPORATE PRESENTATION June 2020 CORPORATE PRESENTATION I 1 1
Slide 2: What We Do: Converting polypropylene into a World of Material & Solutions
THRACE GROUP I WHAT WE DO Converting polypropylene into a World of Material & Solutions for over 40 years CORPORATE PRESENTATION I 2 2
Slide 3: Business Sectors
THRACE GROUP I 3 BUSINESS SECTORS PACKAGING SOLUTIONS CORPORATE PRESENTATION I 3 3
Slide 4: Thrace Group at a Glance
THRACE GROUP I AT A GLANCE Converting more than 110k MT of PP/PE per year Operations in 9 countries 28 different production technologies 60% production / 19% sales in Greece Sales network in 80 countries / Sales in 24 market segments FY 2019 Group Sales 328 mil € / 2015-2019 CAPEX 135.9 mil € 1,605
Slide 5: Global Presence
THRACE GROUP I GLOBAL PRESENCE ▪ Presence in 9 countries ▪ Production and trading facilities in 11 locations ▪ Trading facilities in 3 locations 100% JV Technical Fabrics BU Packaging BU Production moved to European facilities CORPORATE PRESENTATION I 5 5
Slide 6: Production & Revenue Breakdown (2019)
THRACE GROUP I PRODUCTION & REVENUE BREAKDOWN (2019) ▪ 60% of group production in Greece ▪ Strong sales diversification through our global presence. Only 19% of sales in Greece. CORPORATE PRESENTATION I 6 6
Slide 7: Technical Fabrics Business Unit
TECHNICAL FABRICS BUSINESS UNIT CORPORATE PRESENTATION I 7 7
Slide 8: Technical Fabrics BU Products
TECHNICAL FABRICS BU I PRODUCTS CORPORATE PRESENTATION I 8 8
Slide 9: Technical Fabrics BU Overview 2019 (1/2)
TECHNICAL FABRICS BU I OVERVIEW 2019 (1/2) ▪ 56% of production in Greece ▪ Global sales presence but mainly Europe (well diversified within Europe) and America CORPORATE PRESENTATION I 9 9
Slide 10: Technical Fabrics BU Overview 2019 (2/2)
TECHNICAL FABRICS BU I OVERVIEW 2019 (2/2) Key P & L Items FY FY (amounts in €’000) 2019 2018 Sales 240.604 243.980 y-o-y Change % -1.4% EBITDA 15.745 15.528 EBITDA margin 6.5% 6.4% CORPORATE PRESENTATION I 10 10
Slide 11: Packaging Solutions Business Unit
PACKAGING SOLUTIONS BUSINESS UNIT CORPORATE PRESENTATION I 11 11
Slide 12: Packaging BU Products
PACKAGING BU I PRODUCTS BAGS/FFS FILMS PALLET COVERING/ CONTAINER LINERS/ FABRICS PACKAGING FILM CARGO PROTECTION INJECTION/BUCKETS/ THERMOFORMING EPS CONTAINERS & CRATES PAILS/CONTAINERS CUPS TRAYS BAG IN BOX GARBAGE BAGS ROPES & TWINES CORPORATE PRESENTATION I 12 12
Slide 13: Packaging BU Applications
PACKAGING BU I APPLICATIONS Agricultural Animal / Fish Butter / Spread / Catering / Beer / Coffee Cheese Product Packaging Feed Yellow fats Disposables Confectionary / Food Bulk Dairy Fertilizers Ice Cream Kid Specialties Honey Products Lubricants / Paints / Building Processed Meat / Salads / Pickle
Slide 14: Packaging BU Overview 2019 (1/2)
PACKAGING BU I OVERVIEW 2019 (1/2) * Includes Bulgaria, Albania, Romania, Serbia, Slovenia, Croatia, FYROM, Bosnia-Herzegovina, Montenegro, Kosovo ** Includes all other European countries plus Russia, ▪ 69% of production and 58% of sales in Greece Ukraine and Georgia ▪ Main markets are Greece and SE
Slide 15: Packaging BU Overview 2019 (2/2)
PACKAGING BU I OVERVIEW 2019 (2/2) Key P & L Items FY FY (amounts in €’000) 2019 2018 Sales 94.895 91.642 y-o-y Change % +3.5% EBITDA 13.280 11.978 EBITDA margin 14.0% 13.1% CORPORATE PRESENTATION I 15 15
Slide 16: Strategy
STRATEGY Pursuing profitable growth through investment in capacity & innovation CORPORATE PRESENTATION I 16 16
Slide 17: Strategy Overview: Profitable Growth
THRACE GROUP I STRATEGY OVERVIEW Profitable Growth Market-driven Value Capture Organic growth (increase margins) ▪ Increase Capacity ▪ Further reduce production cost ▪ Geographical expansion ▪ Improvement of Product Mix (shift of sales to the high margin products) ▪ Focus on two major growth markets
Slide 18: Circular Economy
THRACE GROUP I CIRCULAR ECONOMY Thrace Group commits and invests in the “EU Strategy for Plastics in a circular economy” Fully aligned with the European strategy for plastics and the transition to a more circular economy, Thrace Group turns today’s challenges into opportunities ensuring sustainable
Slide 19: In the Loop: Solving the Problem of Waste
THRACE GROUP I IN THE LOOP SOLVING THE PROBLEM OF WASTE • We have created In the Loop an upcycling system through which, in cooperation with our customers and suppliers we collect, recycle and reuse the used plastic material creating valuable raw material for thousand new products https://www.in-the
Slide 20: Financial Review
FINANCIAL REVIEW CORPORATE PRESENTATION I 20 20
Slide 21: FY 2019 IFRS Financial Results: P&L Summary
FY 2019 IFRS FINANCIAL RESULTS I P&L SUMMARY amounts in 000s € 2019 2018 y-o-y Turnover 327,795 322,733 1.6% Cost of Goods Sold -264,247 -259,508 1.8% Gross profit 63,548 63,225 0.5% Gross profit margin 19.4% 19.6% Operating Expenses -51,446 -49,528 3.9% EBIT 12,102 13,697 -11.6% EBIT margin 3.7% 4.
Slide 22: FY 2019 IFRS Financial Results: Highlights
FY 2019 IFRS FINANCIAL RESULTS I HIGHLIGHTS ▪ The Group’s sales volume remained in the same levels with the year 2018 at 121.3 thousand tons. ▪ Sales volume in Technical Fabrics B.U. reached 90.3 th. tons in 2019 versus 93.5 th. tons in 2018 (-3.4%) ▪ Sales volume in Packaging B.U. reached 35.7 th.
Slide 23: FY 2019 IFRS Financial Results: Outlook for 2020
FY 2019 IFRS FINANCIAL RESULTS I OUTLOOK FOR 2020 ▪ New Investments: (a) Meltblown: The Management has decided to purchase and install mechanical equipment for the production of meltblown material in Don & Low Ltd, based in Forfar, Scotland, a total investment of GBP 4.5 million, which will be partl
Slide 24: Group Revenue Bridge
FY 2019 IFRS FINANCIAL RESULTS I GROUP REVENUE BRIDGE (€ ‘000) CORPORATE PRESENTATION I 24 24
Slide 25: Group Adjusted EBT Bridge
FY 2019 IFRS FINANCIAL RESULTS I GROUP Adjusted EBT BRIDGE (€ ‘000) CORPORATE PRESENTATION I 25 25
Slide 26: Adjusted EBITDA to Adjusted EBT Bridge
FY 2019 IFRS FINANCIAL RESULTS I Adjusted EBITDA to Adjusted EBT BRIDGE (€ ‘000) CORPORATE PRESENTATION I 26 26
Slide 27: FY 2019 Balance Sheet Summary
FY 2019 IFRS FINANCIAL RESULTS I BS SUMMARY amounts in 000s € 2019 2018 Key Ratios 2019 2018 Tangible Assets 123,323 136,076 Total Debt 105,579 101,186 Rights-of-use assets 14,972 0 Cash 22,051 22,824 Intangible Assets 11,350 11,567 Net Debt 83,528 78,362 Other NC Assets 20,471 19,377 Net Debt / EBI
Slide 28: FY 2019 Cash Flow Summary
FY 2019 IFRS FINANCIAL RESULTS I CASH FLOW SUMMARY CORPORATE PRESENTATION I 28 28
Slide 29: FY 2019 Net Debt
FY 2019 IFRS FINANCIAL RESULTS I NET DEBT ▪ The high investment plan that started in 2015 resulted in increased Net Debt in 2017 and 2018. ▪ Net Debt/EBITDA in 2019 was increased above the Group’s max ratio of 2x (2.9) however this is projected to reach the desired levels by 2020. CORPORATE PRESENTA
Slide 30: FY 2019 Earnings Per Share
FY 2019 IFRS FINANCIAL RESULTS I EARNINGS PER SHARE 2019 2018 Earnings Before Taxes 8.348 10.005 Income Tax* 4.331 1.976 Minority Interest 301 308 Profit Attributable to Shareholders 3.716 7.721 Adjusted # of Shares 43.737 43.737 EPS (in euro) 0,0850 0,1765 CORPORATE PRESENTATION I 30 30
Slide 31: 2020 Q1 IFRS Financial Results: P&L Summary
2020 Q1 IFRS FINANCIAL RESULTS I P&L SUMMARY amounts in 000s € 2020 Q1 2019 Q1 y-o-y Turnover 78,401 83,574 -6.2% Cost of Goods Sold -60,881 -66,795 -8.9% Gross profit 17,520 16,779 4.4% Gross profit margin 22.3% 20.1% Operating Expenses -12,788 -12,223 4.6% EBIT 4,732 4,556 3.9% EBIT margin 6.0% 5.
Slide 32: 2020 Q1 Balance Sheet Summary
2020 Q1 IFRS FINANCIAL RESULTS I BS SUMMARY amounts in 000s € 31-03-20 31-12-19 Key Ratios 31-03-20 31-12-19 Tangible Assets 122,349 123,323 Total Debt 112,776 105,579 Rights-of-use assets 13,879 14,972 Cash 30,700 22,051 Intangible Assets 11,096 11,350 Net Debt 82,076 83,528 Other NC Assets 20,149
Slide 33: Group Financial Performance: Stock Data
GROUP FINANCIAL PERFORMANCE I STOCK DATA CORPORATE PRESENTATION I 33 33
Slide 34: Corporate Governance
THRACE GROUP I CORPORATE GOVERNANCE BOARD OF DIRECTORS Constantinos Chalioris: Chairman & Group CEO Christos Komninos: Non-Executive Vice-Chairman Dimitris Malamos: Executive Member & Group Deputy CEO Vassilis Zairopoulos: Non-Executive Member Christos Chiatis: Non-Executive Member Petros Fronistas:
Slide 35: Alternative Performance Measures: ESMA
ALTERNATIVE PERFORMANCE MEASURES I ESMA Alternative Performance Measures (APM) During the description of the developments and the performance of the Group, ratios such as the EBIT and the EBITDA are utilized. • EBIT (The indicator of earnings before the financial and investment activities as well as
Slide 36: Thrace Group Disclaimer
THRACE GROUP I DISCLAIMER This material (the “Presentation”) has been prepared, issued and presented by Thrace Plastics Co S.A. (the “Company”) on the terms set out below for the exclusive and confidential use of the persons to whom it is addressed (“Recipients”), solely for use by the Recipients in
Slide 37: Contacts
Contacts Investors Relations Ioanna Karathanassi ikarathanasi@thraceplastics.gr +30 210 9875081 Group CFO Dimitris Fragkou dfragkou@thraceplastics.gr +30 210 9875015 www.thracegroup.com Connect with us: https://www.linkedin.com/company/thrace-group/ CORPORATE PRESENTATION I 37 37