Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q1 2019 Earnings Presentation
12 slides from Frigoglass S.a.i.c's earnings presentation, Jun 13, 2019
Slide 1: Results Presentation First-quarter 2019
Results Presentation First-quarter 2019 Nikos Mamoulis │Chief Executive Officer Harris Goritsas │Chief Financial Officer 13 June 2019
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: First-quarter 2019 highlights
First-quarter 2019 highlights Strong Commercial Refrigeration business performance with sales growth across all regions Continued top-line growth momentum in Glass Group comparable EBITDA margin up by 230bps y-o-y, to 14.7% Net Debt/LTM EBITDA at 3.9x First-quarter 2019 results 3 13 June 201
Slide 4: Broad-based Commercial Refrigeration sales growth
Broad-based Commercial Refrigeration sales growth 1Q Commercial Refrigeration sales by region (in €m) Commercial Refrigeration sales up by 20% y-o-y Increased placements from +15% soft-drinks customers and 45 market share gains with breweries in East Europe 39 +24% West Europe up y-o-y on 29 higher
Slide 5: Continued growth momentum in Glass; sales +16% y-o-y
Continued growth momentum in Glass; sales +16% y-o-y 1Q Glass sales (in €m) Continuing Operations (Nigerian Operations) +3.3 +0.5 +0.2 29 25 Glass Plastic Metal 1Q18 1Q19 Containers Crates Crowns Glass containers sales up by double digit with strong demand from breweries and wine & spits Plastic
Slide 6: Financial review
Financial review First-quarter 2019 results 6 13 June 2019
Slide 7: Financial performance overview
Financial performance overview Group (in €m) 1Q19 1Q18 Change, % Sales 125.6 105.7 18.8% Comparable EBITDA1 18.4 13.1 40.4% Comparable EBITDA margin, %1 14.7% 12.4% 2.3pp Net Profit2 2.0 -3.7 n.m. Notes: 1Comparable EBITDA before IFRS 16 21Q18 include losses from discontinued operations of €1.4m Fir
Slide 8: 1Q segmental performance overview
1Q segmental performance overview ICM Operations Commercial Refrigeration Operations 1Q19 1Q18 Change, % (in €m) Sales: - Solid growth across all Sales 97.0 81.1 19.5% regions Comparable EBITDA1 11.1 7.1 57.7% EBITDA margin: Comparable EBITDA margin, %1 11.5% 8.7% 2.8pp - Better cost absorption Net
Slide 9: Cash flow impacted by working capital
Cash flow impacted by working capital Group (in €m) 1Q19 1Q18 Change Comparable EBITDA1 18.4 13.1 5.3 Net Trade Working Capital Change -32.8 -12.9 -19.9 Capital Expenditure -2.7 -3.8 1.1 Adjusted Free Cash Flow2 -13.2 -3.0 -10.2 Net Debt / LTM EBITDA 3.9x 4.0x Net Trade Working Capital – Inventory b
Slide 10: Business Outlook
Business Outlook First-quarter 2019 results 10 13 June 2019
Slide 11: Business Outlook
Business Outlook – Top-line growth and Comp. EBITDA margin improvement – Solid Commercial Refrigeration sales growth – Customer cooler investments skewed towards H1 – Sustained momentum in Glass – Ongoing cost base improvement initiatives – FY19 capex retained at €25-30 million First-quarter 2019 re
Slide 12: 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