Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q1 2011 Earnings Presentation
21 slides from Frigoglass S.a.i.c's earnings presentation, May 12, 2011
Slide 1: First Quarter 2011 Financial Results Investor Presentation
www.frigoglass.com First Quarter 2011 Financial Results Investor Presentation
Slide 2: What we do
www.frigoglass.com 2 Investor presentation What we do Ice Cold Merchandisers First Quarter 2011: Sales €109.8 million (81.4% of total revenues) Glass Operations First Quarter 2011: Sales €25 million (18.6% of total revenues)
Slide 3: Global presence
www.frigoglass.com 3 Investor presentation Global Cool operations Cool operations Cool operations Cool operations Cool operations Glass operations presence North America Western Europe Eastern Europe Asia Pacific Africa/Middle East Africa Production Production Production Production Production Produc
Slide 4: Our History and Our investment proposition
www.frigoglass.com 4 Investor presentation Our History 1982 1996 1999 2001 Inception of the industrial Frigoglass formed as a Acquisition of Norcool, Acquisition of Husky in division of Cola-Cola spin-off Frigoglass listed on the South Africa Hellenic Bottling Company Athens Stock Exchange 2007 2008
Slide 5: ICM Key Industry Features
www.frigoglass.com 5 Investor presentation ICM Key Industry Features Market Immediate Geographical Environment Tailwinds Consumption Diversification • Population increase • Most profitable channel for Beverage Companies • Expanded footprint, • GDP growth accommodates • Key industry priority • Furthe
Slide 6: First Quarter 2011 highlights
www.frigoglass.com 6 Investor presentation First Quarter 2011 highlights • Sales increased by 44.6% y-o-y in Q1, to €134.8 million, driven by both Cool and Glass Operations. • Sales at Cool Operations advanced by 40.2% in Q1, reflecting continuing momentum in Eastern Europe (+80.7%) and strong sales
Slide 7: First Quarter 2011 Financial Highlights
www.frigoglass.com 7 Investor presentation First Quarter 2011 Financial Highlights (in €m) 1Q10 1Q11 Y-o-Y % Sales 93.2 134.8 44.6% COGS 71.5 102.9 44.0% Gross Profit 21.8 31.9 46.6% Operational Expenses 12.6 15.7 24.3% EBIT 10.0 16.5 65.5% Profit Before Tax 7.3 13.3 82.1% Taxes 1.8 3.3 81.0% Tax Ra
Slide 8: Balance Sheet
www.frigoglass.com 8 Investor presentation Balance Sheet (in €m) 1Q10 1Q11 Fixed Assets 205.3 201.4 Deferred Tax Assets 11.0 13.9 Other Long Term Receivables 1.5 0.7 Inventories 105.6 169.1 Trade Debtors 116.4 153.9 Other Debtors 37.1 35.2 Cash at bank & in hand 76.4 43.4 TOTAL ASSETS 553.3 617.6 De
Slide 9: Cash Flow
www.frigoglass.com 9 Investor presentation Cash Flow (in €m) 1Q10 1Q11 Cash Generated 13.7 20.4 +48.5% Working Capital Movement -59.6 -103.5 Net Cash Flow from Operations -45.8 -83.1 Net Cash Flow from Investment Activities -6.2 -4.5 Free Cash Flow -52.0 -87.7 Increase in Bank Loans 81.7 54.7 Divide
Slide 10: Cool Operations
www.frigoglass.com Investor presentation Cool Operations
Slide 11: Cool operations (Ice cold merchandisers)
www.frigoglass.com 11 Investor presentation Cool operations (Ice cold merchandisers) ICMs are an integral part of the strategy of beverage companies to increase Immediate Consumption across different trade channels
Slide 12: Cool Operations First Quarter 2011 highlights
www.frigoglass.com 12 Investor presentation Cool Operations First Quarter 2011 highlights • Cool Operations Revenue advanced by 40.2% in Q1 to €109.8 million, driven by strong performance in Eastern and Western Europe. • Sales in Eastern Europe continued to demonstrate strong momentum, growing by 80
Slide 13: Cool Operations Revenue Breakdown
www.frigoglass.com 13 Investor presentation Cool Operations Revenue Breakdown Revenue by Geography Revenue by Customer 1Q11 1Q10 Y-o-Y % 1Q11 1Q10 Y-o-Y % Eastern Europe 42.7 23.6 80.7% Coca-Cola Hellenic 33.9 9.9 242.0% Western Europe 26.7 14.3 86.2% Coca-Cola Bottlers 36.3 35.3 3.0% Africa / Middl
Slide 14: Cool Operations First Quarter 2011 Financial Highlights
www.frigoglass.com 14 Investor presentation Cool Operations First Quarter 2011 Financial Highlights (in €m) 1Q10 1Q11 Y-o-Y % Sales 78.3 109.8 40.2% EBIT 7.0 11.9 71.0% Net Profit 3.0 6.8 125.9% EBITDA 10.9 15.7 45.0%
Slide 15: Greenovation: working together with our customers
www.frigoglass.com 15 Investor presentation Ecocool The first 25% of complete range European of sales in environmentally 2010 friendly coolers Efficient Eco-Life Natural Design Eco- Energy cycle Refrigerants Energy- Production Mgmt Compatibility Hydrocarbons efficient HFC-free System up with & Carbo
Slide 16: Glass Operations
www.frigoglass.com Investor presentation Glass Operations
Slide 17: Glass Operations
www.frigoglass.com 17 Investor presentation Glass Operations Glass bottles are the most important packaging form in Western Africa. Frigoglass offers a complete solution with the production of Metal Crowns and Plastic Crates
Slide 18: Glass Operations Financial Highlights
www.frigoglass.com 18 Investor presentation Glass Operations Financial Highlights • Glass Operations Sales increased by 67.8% in Euro terms in Q1 to €25.0 million. • Glass Sales increased 96.6% in Q1 to €16.2 million, cycling a weak Q1 2009. Last year’s sales were impacted by the closure of one of t
Slide 19: Outlook
www.frigoglass.com 19 Investor presentation 2011 Outlook • We expect all regions to record sales growth during the year, with the highest incremental contribution from Western Europe. We also expect sales growth in Asia/Oceania and Africa/Middle East to return to growth in the upcoming quarters, at
Slide 20: Strategic platform for growth
www.frigoglass.com 20 Investor presentation Third Quarter 2010 Financial Results Strategic platform form growth Sustainability Creating ICM Geographic Integration in Sustain growth of optimum Innovation expansion Corporate Glass Operations platform for Strategy future growth Development of new bespo
Slide 21: Thank You
www.frigoglass.com 21 Investor presentation Thank You For further information on Frigoglass please visit our website at: www.frigoglass.com or contact our Investor Relations Department Lillian Phillips, Head of Corporate Communications lphillips@frigoglass.com John Stamatakos, Investor Relations Man