Vidrala Sa · BME:VID
Vidrala Sa — H1 2019 Earnings Presentation
14 slides from Vidrala Sa's earnings presentation, Jul 24, 2019
Slide 1: H1 2019 Results
H1 2019 RESULTS 24TH JULY 2019
Slide 2: Disclaimer
DISCLAIMER This presentation includes or may include representations or estimations concerning the future about intentions, expectations or forecasts of VIDRALA or its management. which may refer to the evolution of its business performance and its results. These forward looking statements refer to
Slide 3: H1 2019 Key Figures
H1 2019 KEY FIGURES - H1 2019 Change Organic change (constant currency basis) Net sales (EUR million) 507.5 +5.6% +5.3% EBITDA (EUR million) 131.2 +10.1% +9.8% Earnings per share (EUR/share) 2.60 +22.6% Debt (EUR million) 402.1 -15.9% Debt / LTM EBITDA (multiple) 1.6x -0.5x 3
Slide 4: Sales
SALES YEAR OVER YEAR CHANGE EUR million 600 +5.6% +5.3% +0.3% YoY 500 507.5 480.6 400 300 200 H1 2018 Organic FX H1 2019 4
Slide 5: EBITDA
EBITDA YEAR OVER YEAR CHANGE EUR million +10.1% YoY 150 +9.8% +0.3% 131.2 119.2 100 50 0 H1 2018 Organic FX H1 2019 5
Slide 6: Operating Margins
OPERATING MARGINS YEAR OVER YEAR CHANGE As percentage of sales 28% 26% 25.9% 24.8% +110 bps 24% 22% 20% H1 2018 H1 2019 6
Slide 7: Earnings per Share
EARNINGS PER SHARE SIX-MONTHLY EVOLUTION, SINCE 2015 EUR per share +22.6% YoY 3 2.60 2.12 2 1 0 H1 2015 H1 2016 H1 2017 H1 2018 H1 2019 7
Slide 8: Cash Profile
CASH PROFILE FREE CASH FLOW GENERATION LAST 12 MONTHS TO JUNE 2019 EUR million / as percentage of sales 300 25.6% 250 251.4 200 -10.6% 150 -3.8% 11.2% 100 109.5 50 0 EBITDA Capex WC & Others FCF 8
Slide 9: Debt
DEBT SIX-MONTHLY EVOLUTION, SINCE 2015 Debt in EUR million and times EBITDA 800 2.9x 3,0x 700 2,5x 2.2x 600 2.1x 2,0x 500 1.6x 1.6x 400 1,5x 300 * 1,0x 474 478 200 370 402 299 0,5x 100 0 0,0x Jun-15 Jun-16 Jun-17 Jun-18 Jun-19 *The increase is due to the acquisition of Santos Barosa in October 2017,
Slide 10: H1 2019 Main Highlights
H1 2019 MAIN HIGHLIGHTS ORGANIC TOP-LINE GROWTH OF 5.3% Sales during the first six months of 2019 amounted to EUR 507.5 million, showing an organic growth of 5.3%. OPERATING MARGIN OF 25.9% Operating profit, EBITDA, was EUR 131.2 million representing an operating margin of 25.9%. >20% GROWTH IN EARN
Slide 11: FY 2019 Outlook, Reiterated
FY 2019 OUTLOOK, REITERATED Actuals Last Twelve Months Full Year 2019 Full Year at June 2019 Trends 2018 Sales +3.8% YoY organic +5.0% YoY organic Mid-digit growth supported on price/mix growth like-for-like like-for-like and moderate volume contribution. Gradual modest expansion supported on Operat
Slide 12: Slide 12
Slide 13: Annex. Alternative Performance Measures (APM)
ANNEX. ALTERNATIVE PERFORMANCE MEASURES (APM). Vidrala publishes this information in order to promote comparability and interpretation of its financial information and in compliance with the Directive of the European Securities and Markets Authority (ESMA) on Alternative Performance Measures (APM).
Slide 14: Annex. Alternative Performance Measures (APM)
ANNEX. ALTERNATIVE PERFORMANCE MEASURES (APM). i) EBITDA EUR million H1 2019 Source of data Profit before income tax from continuing operations 82,212 Consolidated Income Statement Amortisation and depreciation +46,252 Consolidated Income Statement Finance income -919 Consolidated Income Statement F