Slide 1: Aquafil Group FY 2022 Financial Results
Aquafil Group FY 2022 Financial Results 16th March 2023
Slide 2: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 2
Slide 3: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 3
Slide 4: Key Messages
Key Messages YEAR 2022 ECONYL® BRANDED PRODUCTS BEST PROFITABILITY EVER UP 52.0% REVENUES GREW BY 20.1% RATIO TO REVENUES GENERATED BY FIBERS EBITDA UP BY 28.0% AT 43.5% RATIO TO REVENUES AT 13.5% CONTINUATION OF SUSTAINABILITY PLAN PROCESS TO ACQUIRE UPDATED MAJORITY INTEREST IN THE INDIAN COMPANY
Slide 5: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 5
Slide 6: FY2022 Main Results
FY2022 Main Results REVENUES EBITDA NET PROFIT NFP 2022 2021 Δ% 2022 2021 Δ% 2022 2021 Δ 31.12.22 31.12.21 Δ FY 684,1 569,7 20,1% FY 92,3 72,1 28,0% FY 29,2 10,7 18,5 FY (247,9) (179,3) (68,6) % on Revenues 13,5% 12,7% % on Revenues 4,3% 1,9% 4Q 154,2 150,4 2,5% 4Q 19,1 12,5 52,5% 4Q 3,0 (3,6) 6,6 %
Slide 7: Revenues – by Components
Revenues – by Components • Lower volumes of ca 11% compared to FY2021 and 21% compared to 4Q21 – Volume: lower sales in EMEA – Price & sales mix: positive impact thanks to better mix and selling price adjustment. 7
Slide 8: Revenues – Quantity
Revenues – Quantity EMEA: volumes ca -23% vs FY2021 and -36% vs 4Q21: – BCF, NTF and Polymers: lower quantity due to slow market demand; USA: volumes ca +18% vs FY2021 and +8% in 4Q21: – BCF: higher quantity due to increase of BCF fiber for contract and competitor withdrawal – NTF: lower quantity du
Slide 9: Revenues – Breakdown by Product Line and Area
Revenues – Breakdown by Product Line and Area (1) Rest of World included in Asia & Oceania 9
Slide 10: Revenues – ECONYL®
Revenues – ECONYL® • Strong growth +52% vs FY2021 due to price increase and higher quantities: 46,2% 37.4% 53,8% 62.9% 10
Slide 11: Revenues – ECONYL® – BCF the support and NTF the accelerator
Revenues – ECONYL® – BCF the support and NTF the accelerator • ECONYL® has represented an accelerator driver for the Group growth both by strengthening relationship with consolidated customers and the attracting new ones ‒ BCF sector historically drove ECONYL® development due to cultural sensitivene
Slide 12: P&L – KPI
P&L — KPI | 2022 2021 A 2022 2021 A REVENUES 684,1 569,7| 114,4) 154,2 150,4) 3,8) EBITDA 92,3 72,1 20,2 19,1 12,5 6,6 % on net sales 13, 5% 12.7% 12,4% 8 3% EBIT 37,6 21,5) 16,1 5,2 (09 6,0 % on net sales 5,5% 3 8% 33% -0,6% % on net sales 54% 2.6% 25% -2,.2% NET RESULT 29,2 10,7 18,5 3,0) 06] 6,6)
Slide 13: NFP – NPF/EBITDA
NFP – NPF/EBITDA • NFP on 31st December 2022 equal to (247,9) €/mil, higher of ca (69) €/mil compared to 31st December 2021 • Ratio NPF/EBITDA LTM at 2,69x 242 157 112 13
Slide 14: NFP – Increase of NWC mainly driven by inventory
NFP – Increase of NWC mainly driven by inventory • NWC growth driven by increase of inventory value due to - higher unitary cost of raw material and - increase of quantities; 46,2% 37.4% 7 5 17 39 7 27 14
Slide 15: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 15
Slide 16: Outlook
Outlook In 2022, the Aquafil Group proved its ability to achieve excellent results even in difficult economic contexts. The Aquafil Group's markets of reference will remain subject to considerable volatility in 2023 due to the constant, ongoing evolution of the macroeconomic and geopolitical scenari
Slide 17: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 17
Slide 18: Disclaimer
Appendix - Disclaimer This presentation and any material distributed in connection herewith (together, the “Presentation”) prepared by Aquafil S.p.A. (“Aquafil” or “Company”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of
Slide 19: Definitions
Appendix - Definitions “First choice revenues” are revenues generated by the sale of fibers and polymers, gross of any adjustments «FIRST CHOICE (for example, discounts and allowances), but excluding revenues generated by “non-first choice products”, REVENUES» revenues generated by Aquafil Engineeri
Slide 20: Sector Data – Caprolactam price evolution
Appendix - Sector Data – Caprolactam price evolution 20
Slide 21: Consolidated Income Statements
Appendix - Consolidated Income Statements CONSOLIDATED INCOME STATEMENT December of wich December of wich Fourth of wich Fourth of wich €/000 2022 non-current 2021 non-current Quarter 2022 non-current Quarter 2021 non-current Revenue 684.074 1.160 569.701 784 154.169 311 150.391 197 of which related
Slide 22: Consolidated Income Statements – Revenues FY
Appendix - Consolidated Income Statements – Revenues FY FY22 BCF (fiber for carpet) NTF (fiber for fabric) Polymers Total €/mil 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% % 22 % 21 EMEA 217,9 186,3 34,5 18,5 % 103,3 90,2 17,0 18,8 % 51,8 68,8 (13,3) (19,4)% 372,9 345,4 38,1 11,0 % 5
Slide 23: Consolidated Income Statements – Revenues 4Q
Appendix - Consolidated Income Statements – Revenues 4Q 4Q 22 BCF (fiber for carpet) NTF (fiber for fabric) Polymers Total €/mil 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% % 22 % 21 EMEA 46,0 48,9 (2,9) (5,9)% 24,1 28,0 (3,9) (13,9)% 9,6 13,3 (3,7) (28,0)% 79,7 90,2 (10,5) (11,7)% 5
Slide 24: Consolidated Income Statements – EBITDA & EBITDA Adj
Appendix - Consolidated Income Statements – EBITDA & EBITD Adj RECONCILIATION FROM NET PROFIT TO EBITDA December December Foruth Fourth €/000 2022 2021 Quarter 2022 Quarter 2021 Net Profit (Including Portion Attr. to Minority ) 29.151 10.670 3.014 (3.588) Income Taxes 7.717 3.934 871 224 Investment
Slide 25: Consolidated Balance Sheet (1)
Appendix - Consolidated Balance Sheet(1) CONSOLIDATED BALANCE SHEET At December 31, At December 31, €/000 2022 2021 Intangible Assets 21.596 23.551 Goodwill 15.647 14.735 Tangible Assets 247.469 240.489 Financial Assets 831 710 of which related parties 318 318 Investments & Equity metod 1.018 1.018
Slide 26: Consolidated Balance Sheet (2)
Appendix - Consolidated Balance Sheet(2) CONSOLIDATED BALANCE SHEET At December 31, At December 31, €/000 2022 2021 Share Capital 49.722 49.722 Reserves 96.528 91.708 Group Net Profit for the year 29.151 10.670 Group Shareholders Equity 175.401 152.101 Net Equity attributable to minority interest 1
Slide 27: Net Financial Position
Appendix - Net Financial Position NET FINANCIAL DEBT At December 31, At December 31, €/000 2022 2021 A. Liquidity 110.682 152.656 B. Cash and cash equivalents C. Other current financial assets 9.964 860 D. Liquidity (A + B + C) 120.646 153.516 E. Current financial debt (including debt instruments bu
Slide 28: Consolidated Cash Flow Statement (1)
Appendix - Consolidated Cash Flow Statement (1) CASH FLOW STATEMENT At December 31, At December 31, €/000 2022 2021 Operation Activities Net Profit (Including Portion Attr. to Minority ) 29.151 10.670 of which related parties -57 -591 Income Taxes 7.717 3.934 Income (loss) from Investments -23 0 of
Slide 29: Consolidated Cash Flow Statement (2)
Appendix - Consolidated Cash Flow Statement (2) CASH FLOW STATEMENT At December 31, At December 31, €/000 2022 2021 Investing activities Investment in Tangible Assets -34.864 -34.632 Disposal of Tangible Assets 384 353 Investment in Intangible Assets -4.163 -4.977 Disposal of Intangible Assets 132 2