Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q1 2010 Earnings Presentation
16 slides from Frigoglass S.a.i.c's earnings presentation, 2010
Slide 1: Frigoglass Presentation First Quarter 2010 Results
Frigoglass Presentation First Quarter 2010 Results
Slide 2: Company overview: Our core business
Company overview Our core business Ice cold merchandising / Cool Operations Ice-cold Glass/ Nigeria Operations Global Presence: ICM’s support beverage Regional/Africa: Manufacture of glass companies' sales by creating cold drink availability and containers for beverage, pharmaceutical and stimulatin
Slide 3: Our History and Investment Proposition
Our History 1982 1996 1999 2001 2007 2008 2009 Acquisition Inception of of Norcool; Acquisition Greenfield Acquisition the Acquisition of SFA in Frigoglass Frigoglass plant at of Universal industrial of Husky in Turkey formed as a listed on the Guangzhou Nolin LLC in division of spin-off Athens S. A
Slide 4: Core Business
Core Business First quarter 2010 Sales €78.3 m Contribution 84% First quarter 2010 Sales €14.9 m Contribution 16%
Slide 5: Q1 2010 Highlights
Q1 2010 Highlights Q1 continued the positive momentum seen during latter part of 2009, with sales increasing 26.6% Cool led the way, driven by Eastern Europe and continued strong growth in Asia; Western Europe posted a d li decline, b but trend d iimproved d significantly i ifi l ffrom Q4 US c
Slide 6: Financial Highlights
Financial Highlights (in €m) 1st Quarter 2010 1st Quarter 2009 q-o-q% Sales 93.2 73.6 +26.6% COGS 71.5 59.4 +20.2% G Gross P fit Profit 21 8 21.8 14 2 14.2 +53 2% +53.2% Operational Expenses 12.6 11.3 +11.9% EBIT 10.0 5.4 +85.5% Profit Before Tax 7.3 2.4 +208.6% Taxes 1.8 0.6 +219.5% Tax Rate (%) 25
Slide 7: Cash Flow Statement
Cash Flow Statement (in €m) 1st Quarter 2010 1st Quarter 2009 Cash Generated 13.7 9.4 Working Capital Movement -59.5 -37.4 Net Cash Flow from Operations -45.8 -28.0 Net Cash Flow from Investing Activities -6.2 -3.0 Free Cash Flow -52.0 -31.0 Increase in Bank Loans 81.7 20.6 Dividends p paid -0.02 -0
Slide 8: Cool Operations
Cool Operations ICM’s support beverage companies' sales by creating cold drink availability and stimulating consumer purchases.
Slide 9: Q1 2010 Highlights
Q1 2010 Highlights Cool Revenue increased 39.5% to €78.3 million, driven by a 29.9% increase in volume Asia / Oceania Sales up 57.1% to €25.2 million, driven by significant incremental contributions from India, Indonesia, China and the Philippines . The regions represented 32.2% of ICM Sales E
Slide 10: Cool Operations Q1 2010
Cool Operations Q1 2010 Revenue by Geography Y-o-Y% Growth: 39.5% Eastern Europe 129.7% Western Europe -3.4% Africa/Middle East -10.3% Asia/Oceania 57.1% Revenue by Customer Y Y% G Y-o-Y% Growth: th 39.5% 39 5% CCH 96.5% CC Bottlers 14.5% Breweries 38.2% All Others 109.3%
Slide 11: Financial Highlights
Financial Highlights (in €m) Q1 2010 Q1 2009 q o q% q-o-q% Sales 78.3 56.1 39.5% EBIT 7.0 1.0 563.7% Net Profit 3.0 -1.3 326.3% 4.7 EBITDA 10.9 132.0%
Slide 12: Glass Operations
Glass Operations Manufacture of glass containers for beverage, pharmaceutical and cosmetic companies.
Slide 13: Q1 2010 Highlights
Q1 2010 Highlights Nigeria Operations Sales decreased 14.8% in Euro to €14.9 million, cycling strong growth of 17.3% in the prior year period Sales in Euro terms were impacted by Naira depreciation, with Sales in local currency decreasing d i 6.9% 6 9% Sales at Glass Operations decreased 37.8%
Slide 14: 2010 Outlook
2010 Outlook Positive momentum seen in last quarter of 2009 continued into first quarter of 2010 Timing and pace of economic recovery expected to vary by region Continue to focus on cost control and cash generation Continue to invest for growth, through innovation in ICM and through enhanced
Slide 15: Strategic Platform for Growth
Strategic Platform for Growth ICM Geographic Creating optimum Working Capital Innovation: Environment: Sustain growth portfolio tf li platform for future and d Tax T Planning Pl i Develop D l N New Be recognised B i d as andd efficiency ffi i expansion growth Bespoke products the industry leader imp
Slide 16: Thank You
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 Polina Atmatsiadi, Investors Relations patmatsiadi@frigoglass.com (+) 30.210.61.65