Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q4 2020 Earnings Presentation
14 slides from Frigoglass S.a.i.c's earnings presentation, Mar 19, 2021
Slide 1: Results Presentation: Fourth-quarter & full-year 2020
Results Presentation Fourth-quarter & full-year 2020 2019 19 March 2021
Slide 2: Forward Looking statements
Forward Looking statements This presentation may contain forward-looking statements which are based on current expectations and assumptions about future events. All statements other than statements of historical fact included in this presentation, including, without limitation, statements regarding
Slide 3: Operational & Strategic Review / Financial Review
Operational & Strategic Review Financial Review Nikos Mamoulis 32
Slide 4: Our response to COVID-19 challenges
Our response to COVID-19 challenges 1 Safeguarding our teams #1 priority Health & Safety Improved digital capabilities Regular internal communications and HR support 2 Business continuity Minimal production interruptions Operational supply chain Continued customer support 3 Proactive cost mitigation
Slide 5: Strong progress against our key priorities
Strong progress against our key priorities Commercial • Market share gains in Asia and Europe; customer base expansion • New products to capture post COVID-19 recovery phase • Frigoserve’s expansion in Africa • Sustainability score improvement • Customer base expansion and pricing in Glass Cost effi
Slide 6: Q4 2020 highlights
Q4 2020 highlights Sales down 35% y-o-y; COVID-19 impact Adverse currency movements Tough comparison base Opex reduction initiatives; -40% y-o-y EBITDA margin +50bps y-o-y to 10.3% on cost mitigation measures Strong free cash flow generation €90m of liquidity Fourth-quarter & Full-Ye
Slide 7: Segmental Q4 2020 sales review
Segmental Q4 2020 sales review Commercial Refrigeration sales €39.7m; -42% y-o-y East Europe: Underlying trend improved compared to Q3; Poland and Russia showed good improvement West Europe: Impacted by renewed lockdown restrictions in Q4 Africa: Growth momentum sustained in Nigeria; lower cus
Slide 8: Financial Review
Financial Review Financial Review Harris Goritsas 32
Slide 9: Q4 2020 financial performance overview
Q4 2020 financial performance overview Commercial Refrigeration Operations Change, Q4 2020 Q4 2019 Low cost absorption, idle cost (in €m) % Sales 39.7 68.5 -42.1% and adverse FX, partly offset by EBITDA -1.7 -0.8 n.m. production right-sizing initiatives EBITDA margin, % -4.4% -1.2% -3.2pp Prompt
Slide 10: FY 2020 financial performance overview
FY 2020 financial performance overview Commercial Refrigeration Operations Change, FY 2020 FY 2019 (in €m) % Sales 250.8 386.4 -31.9% EBITDA 21.2 39.0 -45.7% EBITDA margin, % 8.5% 10.6% -2.1pp Glass Operations Change, FY 2020 FY 2019 (in €m) % Sales 82.4 113.9 -27.6% EBITDA 21.0 35.0 -40.2% EBITDA m
Slide 11: Strong working capital improvement
Strong working capital improvement Key Free Cash Flow elements (in €m) FY 2020 FY 2019 Change EBITDA 42.2 74.1 -31.9 Net Trade Working Capital Change 14.7 -23.3 38.0 Capital Expenditure -14.1 -30.5 16.4 Adjusted Free Cash Flow1 18.0 21.3 -3.3 Adjusted Net Debt2 255.6 235.0 Adj. Free Cash Flow – EBIT
Slide 12: Business Outlook
Business Outlook Financial Review Nikos Mamoulis 32
Slide 13: Business outlook
Business outlook Volatile economic outlook and commodities price increase Despite signs of restrictions easing, high uncertainty remains Cautiously optimistic on customers’ cooler investments Volume growth momentum to build up in Nigeria Tough comparisons in Q1 2021 Cost reduction initia
Slide 14: Q&A
Q&A For further information on Frigoglass please visit our website at: www.frigoglass.com Or contact: John Stamatakos Group Treasury & IR Manager jstamatakos@frigoglass.com +30 210 61 65 767 1