Thrace Plastics Holding And Commercial S.a. · ATHEX:PLAT
Thrace Plastics Holding And Commercial — Thrace Group — 12th Greek Roadshow London 2017
47 slides from Thrace Plastics Holding And Commercial's conference presentation, September 2017
Slide 1: Corporate Presentation September 2017
CORPORATE PRESENTATION September 2017 • JANUARY 2013 CORPORATE PRESENTATION I1
Slide 2: Converting polypropylene into a World of Materials & Solutions for over 38 years
Converting polypropylene into a World of Materials & Solutions for over 38 years CORPORATE PRESENTATION I2
Slide 3: 2 Business Units
2 BUSINESS UNITS TECHNICAL FABRICS PACKAGING SOLUTIONS CORPORATE PRESENTATION I3
Slide 4: Thrace Group at a Glance
Converting more than 100k MT of PP/PE per year Operations in 11 countries 28 different production technologies THRACE GROUP 59% production / 18% sales in Greece AT A GLANCE Sales network in 80 countries / Sales in 24 market segments FY 2016 Group Sales 292 mil € / 2015-2016 CAPEX 57 mil € 1,709 empl
Slide 5: Presence
PRESENCE Technical Fabrics BU Packaging BU CORPORATE PRESENTATION I5
Slide 6: Technical Fabrics Business Unit
TECHNICAL FABRICS BUSINESS UNIT CORPORATE PRESENTATION I6
Slide 7: Technical Fabrics Business Unit: Products by Application
TECHNICAL FABRICS BUSINESS UNIT I PRODUCTS ΒΥ APPLICATION GEOSYNTHETICS CONSTRUCTION AGRI/HORTICULTURE LANDSCAPE- SPORT & LEISURE AQUACULTURE GARDENING MEDICAL & HYGIENE FILTRATION FURNITURE & AUTOMOTIVE FIBC / PACKAGING BEDDING FABRICS ADVANCED FABRICS/ FLOOR COVERING INDUSTRIAL FABRICS ARNO WEBBIN
Slide 8: Technical Fabrics Business Unit: Overview
TECHNICAL FABRICS BUSINESS UNIT I OVERVIEW Production Geographical Breakdown Sales Geographical Breakdown America UK 14% 21% UK 29% Rest of America Europe 24% 9% Greece Asia, Africa European Greece 4% & Oceania Union excl. 57% 4% Greece, UK 38% 57% of production in Greece (following the investment
Slide 9: Technical Fabrics Business Unit: Competition
TECHNICAL FABRICS BUSINESS UNIT I COMPETITION CORPORATE PRESENTATION I9
Slide 10: Packaging Solutions Business Unit
PACKAGING SOLUTIONS BUSINESS UNIT CORPORATE PRESENTATION I 10
Slide 11: Packaging Business Unit: Products
PACKAGING BUSINESS UNIT I PRODUCTS BAGS/FFS FILMS PALLET COVERING/ CONTAINER LINERS/ FABRICS PACKAGING FILM CARGO PROTECTION INJECTION/BUCKETS/ THERMOFORMING EPS CONTAINERS & CRATES PAILS/CONTAINERS CUPS TRAYS 5 GAL BOTTLES & CAPS BAG IN BOX GARBAGE BAGS ROPES & TWINES CORPORATE PRESENTATION I 11
Slide 12: Packaging Business Unit: Overview
PACKAGING BUSINESS UNIT I OVERVIEW Production Geographical Breakdown Sales Geographical Breakdown S-E Europe S.E. Europe European 37% 31% Union excl Greece, UK 5% Rest of Europe 1% Greece UK 59% 2% Greece 63% Asia, Africa & Other 2% 63% of production and 59% of the sales in Greece. Main markets
Slide 13: Packaging Business Unit: Competition
PACKAGING BUSINESS UNIT I COMPETITION CORPORATE PRESENTATION I 13
Slide 14: Strategy
STRATEGY Pursuing profitable growth through investment in capacity & innovation CORPORATE PRESENTATION I 14
Slide 15: 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 16: Strategy Progress: Market-driven Organic Growth 2015-2016
THRACE GROUP I STRATEGY PROGRESS Market-driven Organic Growth Cost (‘000 Euros) Capacity (‘000 tons) CAPEX 2015 – 2016 56.742 25.600 Fiber line expansion (for Needle-punch fiber production) Technical Fabric BU Greece Needle-punch line Technical Fabric BU Greece Spundbond line Technical Fabric BU Gre
Slide 17: Strategy Progress: Market-driven Organic Growth 2017-2018
THRACE GROUP I STRATEGY PROGRESS Market-driven Organic Growth Cost (‘000 Euros) Capacity (‘000 tons) CAPEX 2017 – 2018 28.800 15.000 Grass yarn line Technical Fabric BU Scotland New Building Technical Fabric BU Scotland Spundbond line Technical Fabric BU Scotland Yarns Technical Fabric BU Scotland S
Slide 18: Strategy Progress: Value Capture
THRACE GROUP I STRATEGY PROGRESS Value Capture (increase margins) Further reduce Production Cost Energy Management: target to reduce kwh/kg by 30% Control cost per man-hour: improve competitiveness Reduce scrap rates Improvement of Product Mix Increase the number of sales people Add new channels to
Slide 19: Financials
FINANCIALS Statutory Financial Statements: The change of standards with regard to the consolidation of joint ventures (IFRS 10, 11 and 12) resulted into the change of the consolidation method. IFRS 11 abolishes the concept of the proportional consolidation of the jointly controlled entities. Instead
Slide 20: FY 2016 IFRS Financial Results: Group Production and Revenue Breakdown
FY 2016 IFRS FINANCIAL RESULTS I GROUP PRODUCTION AND REVENUE BREAKDOWN Production Geographical Breakdown Sales Geographical Breakdown S-E Europe Rest of UK 11% America Europe 16% 10% UK 9% 20% America 19% European Union excl. Greece, UK Asia, Africa 35% Greece Greece & Oceania 59% 18% 3% Sales Cont
Slide 21: FY 2016 IFRS Financial Results: P&L Summary
FY 2016 IFRS FINANCIAL RESULTS I P&L SUMMARY P&L (amounts in 000s €) 2016 2015 Improved Group Financial Performance driven by: Turnover 291,900 289,396 • Increase of sales volume in both sectors of Gross Profit 66,403 59,374 business activity (Technical Fabrics & Packaging) EBIT 22,905 19,080 EBITDA
Slide 22: FY 2016 Group Revenue Bridge
FY 2016 IFRS FINANCIAL RESULTS I GROUP REVENUE BRIDGE (€ ‘000) 320,000 22,166 +4.4% 300,000 9,553 302,009 +0.8% 289,396 10,109 291,900 280,000 260,000 240,000 220,000 200,000 FY 2015 Volume Sales / Price Mix FY 2016 with Translation FX FY 2016 Impact Impact Constant FX CORPORATE PRESENTATION I 22
Slide 23: FY 2016 Group EBT Bridge
FY 2016 IFRS FINANCIAL RESULTS I GROUP EBT BRIDGE (€ ‘000) 25,000 9,306 257 1,427 +47.2% 20,000 2,462 +37.9% 19,553 2,258 1,226 18,327 15,000 13,284 10,000 5,000 0 FY 2015 Gross Profit Distribution Administrative Other Income Financial FY 2016 with Translation FX FY 2016 Expenses Expenses & Expenses
Slide 24: Technical Fabrics Business Unit: Overview
TECHNICAL FABRICS BUSINESS UNIT I OVERVIEW Key P & L Items FY FY H1 H1 TF BU Volume Sold (amounts in €’000) 2016 2015 2017 2016 83 Sales 225,299 228,540 124,630 116,592 77 7% y-o-y Change % -1.4% +6.9% '000 Tons EBITDA 22,560 19,746 9,112 11,829 EBITDA Margin 10.0% 8.6% 7.3% 10.1% 2016 Sales Bridge
Slide 25: Packaging Business Unit: Overview
PACKAGING BUSINESS UNIT I OVERVIEW Key P & L Items FY FY H1 H1 Packaging BU Volume Sold (amounts in €’000) 2016 2015 2017 2016 Sales 76,021 70,433 42,647 39,217 27 10% 24 y-o-y Change % +7.9% +8.7% '000 Tons EBITDA 12,357 9,018 6,269 6,477 EBITDA Margin 16.3% 12.8% 14.7% 16.5% 2016 Sales Bridge (€ 0
Slide 26: FY 2016 IFRS Financial Results: BS Summary
FY 2016 IFRS FINANCIAL RESULTS I BS SUMMARY Balance Sheet Items 2016 2015 CAPEX (in mi €) 2016 2015 Non Current Assets 140,522 122,669 Technical Fabrics 22.5 18.2 Current Assets 148,969 141,862 Packaging 7.4 7.0 Total Assets 289,491 264,531 Agricultural & Other 0 1.6 Total CAPEX 29.9 26.8 Loans 85,8
Slide 27: FY 2016 Net Debt (including the JVs)
FY 2016 IFRS FINANCIAL RESULTS I NET DEBT (including the JVs) 70 3.5 Net Debt / EBITDA (x) Net Debt (EUR m) 60 3.0 50 2.5 40 2.0 30 1.5 20 1.0 10 0.5 0 0.0 2009 2010 2011 2012 2013 2014 2015 2016 Net Debt EBITDA Net Debt/EBITDA 35 High investment plan of 2015 – 2016 resulted 30 25 in increased Net
Slide 28: FY 2016 IFRS Financial Results: Earnings per Share
FY 2016 IFRS FINANCIAL RESULTS I EARNINGS PER SHARE 2016 2015 Earnings Before Taxes 18,327 13,284 Income Tax 4,668 3,263 Minority Interest 275 233 Profit Attributable to Shareholders 13,384 9,788 Adjusted # of Shares 44,022 44,406 EPS (in euro) 0.304 0.2204 CORPORATE PRESENTATION I 28
Slide 29: H1 2017 IFRS Financial Results: Key Financial Figures
H1 2017 IFRS FINANCIAL RESULTS I KEY FINANCIAL FIGURES (€ ‘000) H1 2017 H1 2016 Δ% VOLUMES (tons) 61.786 55.927 10.5% TURNOVER 161.101 150.638 6.9% GROSS PROFIT 34.461 35.350 -2.5% EBITDA 15.357 18.399 -16.5% EAT & MI 4.580 8.101 -43.5% CORPORATE PRESENTATION I 29
Slide 30: Corporate Governance: Board of Directors, Audit Committee
THRACE GROUP I CORPORATE GOVERNANCE BOARD OF DIRECTORS Constantinos Chalioris: Chairman & CEO Theodosios Kolyvas: Executive Vice-Chairman George Braimis: Executive Member Dimitris Malamos: Executive Member Vassilis Zairopoulos: Non-Executive Member Christos Chiatis: Independent Non-Executive Member
Slide 31: Alternative Performance Measures (APM) | ESMA
ALTERNATIVE PERFORMANCE MEASURES (APM) 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 w
Slide 32: Supplementary Material
SUPPLEMENTARY MATERIAL Group’s Production Plants and Product Range per Business Unit CORPORATE PRESENTATION I 32
Slide 33: Technical Fabrics Production Plants
THRACE GROUP I TECHNICAL FABRICS PRODUCTION PLANTS Thrace Nonwovens & Geosynthetics S.A. Don & Low Ltd Xanthi, Greece Forfar, Scotland Non-wovens plant Non-wovens plant Non-wovens plant Wovens plants Wovens plant [Needle punch] [Spun bond] [Spun bond] Products: Polypropylene woven flat and circular
Slide 34: Technical Fabrics Production Plants
THRACE GROUP I TECHNICAL FABRICS PRODUCTION PLANTS Thrace Linq Inc. Lumite Inc. Thrace Eurobent S.A. Summerville, SC USA Alto, GA USA Xanthi, Greece Non-wovens plant Wovens plant GCL plant [Needle punch] Products: Geosynthetics including Silt Fence, Products: Mining/solids separation, waste water Pr
Slide 35: Packaging Production Plants
THRACE GROUP I PACKAGING PRODUCTION PLANTS Thrace Plastics Pack S.A. Thrace Plastics S.A. Ioannina & Xanthi, Greece Xanthi, Greece Injection plant Thermoforming plant Injection plant Films plant Ioannina Ioannina Xanthi Garbage bags plant Products: Injection Moulded Containers, Thermoformed Cups & L
Slide 36: Packaging Production Plants
THRACE GROUP I PACKAGING PRODUCTION PLANTS Thrace Ipoma A.D. Thrace Greiner SRL Sofia, Bulgaria Sibiu, Romania Injection plant Thermoforming plant FIBC plant Injection plant Products: Rigid packaging (pails, containers), Crates (general purpose, soft drinks and Products: Round and oval buckets and l
Slide 37: Technical Fabrics Product Range and Applications
THRACE GROUP I TECHNICAL FABRICS PRODUCT RANGE AND APPLICATIONS Product Family Products Applications WHERE: Roads, railways, paving, landfills, mines, river banks, channels, pipe inlet/outlets, construction sites, slopes and shorelines, foundation walls, offshore breakwater construction. Nonwoven Er
Slide 38: Technical Fabrics Product Range and Applications
THRACE GROUP I TECHNICAL FABRICS PRODUCT RANGE AND APPLICATIONS Product Family Products Applications WHERE: Greenhouses, gardens, nurseries and landscaped areas, Outdoor storage of straw bales & sugar beets, indoor storage of goods, harvesting, multiple agricultural applications, in anchor & mooring
Slide 39: Technical Fabrics Product Range and Applications
THRACE GROUP I TECHNICAL FABRICS PRODUCT RANGE AND APPLICATIONS Product Family Products Applications WHERE: Tufted Carpets, automotive, residential, contract, Carpet tile backing, Woven carpet production WHY: primary carpet backing to provide a base cloth to Carpet Pile Yarns Carpet Tile Carpet Warp
Slide 40: Technical Fabrics Product Range and Applications
THRACE GROUP I TECHNICAL FABRICS PRODUCT RANGE AND APPLICATIONS Product Family Products Applications WHERE: surgical masks, head covers, surgical coats, aprons, shoe covers, protective overalls and face masks, chemical suits, transport of medical instruments, preventing fluid or blood transfer. base
Slide 41: Technical Fabrics Product Range and Applications
THRACE GROUP I TECHNICAL FABRICS PRODUCT RANGE AND APPLICATIONS Product Family Products Applications WHERE: protect stacks of big-bags and palletized products, Thrace Group tarpaulins can also be used for other protection purposes, Lamination substrate, construction, packaging, composites, automotiv
Slide 42: Technical Fabrics Product Range and Applications
THRACE GROUP I TECHNICAL FABRICS PRODUCT RANGE AND APPLICATIONS Product Family Products Applications Reel bags, loop bags and automatic filling systems which are developed for automatic (or not) filling lines suitable for a big range of bulk products: fertilisers, fish-feed, seeds, resins, chemicals
Slide 43: Packaging Product Range and Applications
THRACE GROUP I PACKAGING PRODUCT RANGE AND APPLICATIONS Product Family Products Applications Food: baking ingredients, biscuits, confectionery, desserts, dairy products, yellow fats, ice cream, pet food, seafood, salads, sauces, soups, salt, jams, honey Round and Square and Special Non-food: paints,
Slide 44: Packaging Product Range and Applications
THRACE GROUP I PACKAGING PRODUCT RANGE AND APPLICATIONS Product Family Products Applications Multiple packaging applications: sand bags, coal bags, animal feed bags, log bags, turf bags, grain sacks, timber bags, wood kindling bags, vegetable bags, rubble sacks, bin liners, refuse sacks, pallet line
Slide 45: Packaging Product Range and Applications
THRACE GROUP I PACKAGING PRODUCT RANGE AND APPLICATIONS Product Family Products Applications Ideal for multiple agricultural applications. Additionally, they can be used in anchor & mooring lines for small craft swings, lead ropes and rope ladders, ship docking, trucks Strapping of breeder. 3/4 Stra
Slide 46: 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 47: Contacts
Contacts Investors Relations Ioanna Karathanassi ikarathanasi@thraceplastics.gr +30 210 9875081 Group CFO Dimitris Malamos dmalamos@thraceplastics.gr +30 210 9875016 www.thracegroup.com CORPORATE PRESENTATION I 47