Frigoglass S.a.i.c. · ATHEX:FRIGO

Frigoglass S.a.i.c — Frigoglass — Q3 2014 Earnings Presentation

13 slides from Frigoglass S.a.i.c's earnings presentation, Nov 11, 2014

  1. Slide 1: Third quarter & nine months 2014 results

    Third quarter & nine months 2014 results Torsten Tuerling │Chief Executive Officer Nikos Mamoulis │Chief Financial Officer November 11, 2014

  2. Slide 2: Key messages for the third quarter

    Key messages for the third quarter  High 32% sales growth in Glass – Booming Nigerian market – Strong demand for lightweight bottles from Jebel Ali  4% decline in Cool sales on lower brewery investments, despite higher Coca-Cola sales – Russia & South Africa  EBITDA up 14%; 30bps margin improveme

  3. Slide 3: Strong growth in Glass; broadly stable Cool

    Strong growth in Glass; broadly stable Cool Group sales by business segment (in €m) 55 -4% 52 +32% 37 28 3Q13 3Q14 3Q13 3Q14 Cool Glass Third quarter & nine months 2014 results 3 November 11, 2014

  4. Slide 4: Sales to Coca-Cola back on strong recovery in Q3

    Sales to Coca-Cola back on strong recovery in Q3 Cool sales by customer group (in €m) 36 -35% +57% 29 24 18 3Q13 3Q14 3Q13 3Q14 Coca-Cola All Other Bottlers Third quarter & nine months 2014 results 4 November 11, 2014

  5. Slide 5: Significant demand growth in Glass Operations

    Significant demand growth in Glass Operations Glass sales by operation (in €m) 27 +30% 21 +41% 10 7 3Q13 3Q14 3Q13 3Q14 Nigeria Jebel Ali Third quarter & nine months 2014 results 5 November 11, 2014

  6. Slide 6: Financial review

    Financial review Third quarter & nine months 2014 results 6 November 11, 2014

  7. Slide 7: Financial performance overview

    Financial performance overview 3Q14 3Q13 Change, % 9M14 9M13 Change, % Group Sales 89.4 82.7 8.1% 359.5 395.7 -9.1% EBITDA 5.9 5.2 13.5% 42.5 52.8 -19.6% EBITDA Margin, % 6.6% 6.3% 0.3pp 11.8% 13.3% -1.5pp Adj. Net Profit -10.8 -8.2 n.m. -14.2 1.7 n.m. Cool Operations Sales 52.2 54.6 -4.4% 253.3 302

  8. Slide 8: OPEX as % of sales flat in Q3

    OPEX as % of sales flat in Q3 3Q14 3Q13 Change, % Sales (€ m) 89.4 82.7 8.1% Gross Profit 18.0 16.3 10.2% Gross Profit Margin, % 20.1% 19.7% 0.4pp OPEX 13.1 12.1 8.5% OPEX as % of sales 14.7% 14.6% 0.1pp 9M14 9M13 Change, % Sales (€ m) 359.5 395.7 -9.1% Gross Profit 79.4 90.5 -12.3% Gross Profit Mar

  9. Slide 9: Inventory driven working capital improvement

    Inventory driven working capital improvement Inventory (in €m) Working Capital (in €m) 220 192 176 151 134 105 9M12 9M13 9M14 9M12 9M13 9M14 Third quarter & nine months 2014 results 9 November 11, 2014

  10. Slide 10: Net debt reduction on working capital improvement

    Net debt reduction on working capital improvement Net Debt (in €m) Gross Debt €300m 297 271 253 ST Loans €39m RCFs €16m Bond €245m 9M12 9M13 9M14 Third quarter & nine months 2014 results 10 November 11, 2014

  11. Slide 11: Business outlook

    Business outlook Third quarter & nine months 2014 results 11 November 11, 2014

  12. Slide 12: Business outlook

    Business outlook Cool business  Fragile macroeconomic environment  Turkey integration in Romania by year-end  Re-instating full capacity in India plant  ICOOL – Innovation leadership Glass business  Continued growth momentum  Capture Nigeria market potential  Dubai operations margin improveme

  13. Slide 13: For further information on Frigoglass, please visit our website

    For further information on Frigoglass, please visit our website at: www.frigoglass.com or contact: John Stamatakos Investor Relations Manager jstamatakos@frigoglass.com +30 210 61 65 767 Disclaimer This presentation contains forward-looking statements which are based on current expectations and assu

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