Frigoglass S.a.i.c. · ATHEX:FRIGO

Frigoglass S.a.i.c — Frigoglass — Q2 2014 Earnings Presentation

12 slides from Frigoglass S.a.i.c's earnings presentation, Aug 7, 2014

1. Slide 1: Second quarter & first half 2014 results

   Second quarter & first half 2014 results Torsten Tuerling │Chief Executive Officer Nikos Mamoulis │Chief Financial Officer August 7, 2014

2. Slide 2: Key messages for the second quarter

   Key messages for the second quarter  €29m lower Cool sales due to: – Ukraine, Turkey & Africa – Business interruption in India  8.3% sales growth in Glass on strong Nigeria  Lower volume absorption diluting EBITDA margin  Restructuring of Turkish operations  Strong execution on Inventory reduct

3. Slide 3: €29m lower Cool sales in 2Q; solid growth in Glass

   €29m lower Cool sales in 2Q; solid growth in Glass Group sales by business segment (in €m) 139 -21% 110 +8% 33 36 2Q13 2Q14 2Q13 2Q14 Cool Glass Second quarter & first half 2014 results 3 August 7, 2014

4. Slide 4: India fire incident update

   India fire incident update  Substantial loss of sales  Resume 2 out of 3 lines  Rebuild to full capacity ongoing Second quarter & first half 2014 results 4 August 7, 2014

5. Slide 5: Manufacturing footprint rightsizing Turkey Integration

   Manufacturing footprint rightsizing Turkey Integration Turkey Romania  Overhead cost  Economies of scale  Operating expenses  Lean transformation  Interest & depreciation  Modular product platform Total pre-tax savings €7m Second quarter & first half 2014 results 5 August 7, 2014

6. Slide 6: Financial review

   Financial review Second quarter & first half 2014 results 6 August 7, 2014

7. Slide 7: Financial performance overview

   Financial performance overview 2Q14 2Q13 Change, % 1H14 1H13 Change, % Group Sales 145.9 172.4 -15.4% 270.2 313.0 -13.7% EBITDA 20.5 27.4 -25.1% 36.6 47.6 -23.2% EBITDA Margin, % 14.0% 15.9% -1.8pp 13.5% 15.2% -1.7pp Adj. Net Profit 0.0 6.2 n.m. -3.4 9.9 n.m. Cool Operations Sales 109.9 139.1 -21.0%

8. Slide 8: Lower cost absorption impacts margins

   Lower cost absorption impacts margins 2Q14 2Q13 Change, % Sales (€ m) 145.9 172.4 -15.4% Gross Profit 32.8 40.0 -18.2% Gross Profir Margin, % 22.5% 23.2% -0.8pp OPEX 13.5 13.6 -0.5% OPEX as % of sales 9.3% 7.9% 1.4pp 1H14 1H13 Change, % Sales (€ m) 270.2 313.0 -13.7% Gross Profit 61.5 74.2 -17.2% Gr

9. Slide 9: Net Debt reduction on working capital improvement

   Net Debt reduction on working capital improvement Inventory (in €m) Working Capital (in €m) 198 196 179 155 121 100 1H12 1H13 1H14 1H12 1H13 1H14 Net Debt (in €m) 257 242 240 1H12 1H13 1H14 Second quarter & first half 2014 results 9 August 7, 2014

10. Slide 10: Business outlook

    Business outlook Second quarter & first half 2014 results 10 August 7, 2014

11. Slide 11: Business outlook

    Business outlook Short-term focus  Successful execution of Turkey integration  Return to full capacity in India  High glass furnace utilisation in Nigeria  Improve Jebel Ali glass operating margins Long-term profitable growth  Innovative modular cooler range  Integrated services concept  Emer

12. Slide 12: 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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