Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q4 2021 Earnings Presentation
13 slides from Frigoglass S.a.i.c's earnings presentation, Apr 13, 2022
Slide 1: Results Presentation Fourth-quarter 2021
Results Presentation Fourth-quarter 2021 2019 13 April 2022
Slide 2: Forward Looking statements
Forward Looking statements This presentation contains 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 Fri
Slide 3: Operational Review
Operational Review Nikos Mamoulis, CEO 32
Slide 4: Solid performance in a challenging cost environment
Solid performance in a challenging cost environment Q4 2021 highlights Sustained demand recovery in both segments Record sales level in Glass; Exceeding Q4 2019 (the last comparable period pre-COVID-19) EBITDA margin impacted by elevated raw material and transportation costs, less favorable energy m
Slide 5: Continued sales' recovery in Commercial Refrigeration
Continued sales’ recovery in Commercial Refrigeration Favorable beverage consumption trends maintained, supporting post-pandemic period East Europe: Solid sales Commercial Refrigeration Sales by Geography growth aided by fewer restrictions to on-trade (in €m) and soft comparable period; Strong order
Slide 6: Record sales on strong volume growth and pricing
Record sales on strong volume growth and pricing FX-neutral sales up by 53% y-o-y and 65% vs Q4 2019 pre-pandemic levels Glass containers: double- Glass Operations Sales digit volume growth; price (in €m) initiatives offset Naira’s 40 devaluation 35 3.1 (3.0) 34.1 30 10.2 23.8 25 Plastic Crates: Sal
Slide 7: Financial Review
Financial Review Financial Manos Review Metaxakis, CFO 32
Slide 8: Q4 2021 financial performance overview
Q4 2021 financial performance overview Commercial Refrigeration Operations Glass Operations (in €m) Q4 2021 Q4 2020 Chng, % (in €m) Q4 2021 Q4 2020 Chng, % Sales 57.0 39.7 43.6% Sales 34.1 23.8 42.9% EBITDA -1.3 -1.7 n.m. EBITDA 8.7 8.2 5.1% EBITDA margin, % -2.4% -4.4% n.m. EBITDA margin, % 25.4% 3
Slide 9: Group's financial performance overview
Group’s financial performance overview (in €m) Q4 2021 Q4 2020 Chng, % Sales 91.0 63.5 43.3% EBITDA 7.3 6.5 12.3% EBITDA margin, % 8.0% 10.3% -2.2pp EBIT 2.5 1.9 34.8% Net Profit -1.9 -8.8 n.m. (in €m) FY 2021 FY 2020 Chng, % Sales 384.3 333.2 15.3% EBITDA 49.2 42.2 16.8% EBITDA margin, % 12.8% 12.7
Slide 10: Inventory build-up impacted Free Cash Flow
Inventory build-up impacted Free Cash Flow Adjusted Free Cash Flow1 Adjusted Free Cash Flow1 (in €m) €10.6m; down €7.4m y-o-y 26 • Increased operating profitability • Impacted by a net trade working capital 22 7.1 (25.2) outflow 18.0 • Increase in trade debtors, owing to 18 higher year-on-year sales
Slide 11: Business Outlook
Business Outlook Financial Nikos Mamoulis, Review CEO 32
Slide 12: Business outlook
Business outlook Cautious on sales evolution as the impact of the Russia-Ukraine conflict on our European Commercial Refrigeration business currently cannot be fully assessed, including due to continuously evolving sanctions regulations ▪ Taking actions and developing contingency plans to limit disr
Slide 13: Q&A
Q&A For further information on Frigoglass please visit our website at: www.frigoglass.com Or contact: John Stamatakos | Head of Treasury & Investor Relations jstamatakos@frigoglass.com +30 210 61 65 767 1