Thrace Plastics Holding And Commercial S.a. · ATHEX:PLAT
Thrace Plastics Holding And Commercial — Thrace Group — Investor Presentation (May 2019)
35 slides from Thrace Plastics Holding And Commercial's investor presentation, May 2019
Slide 1: Corporate Presentation May 2019
CORPORATE PRESENTATION May 2019 CORPORATE PRESENTATION I 1 1
Slide 2: What We Do
THRACE GROUP I WHAT WE DO Converting polypropylene into a World of Material & Solutions for over 38 years CORPORATE PRESENTATION I 2 2
Slide 3: 2 Business Units
THRACE GROUP I 2 BUSINESS UNITS TECHNICAL FABRICS PACKAGING SOLUTIONS CORPORATE PRESENTATION I 3 3
Slide 4: At a Glance
THRACE GROUP I AT A GLANCE Converting more than 110k MT of PP/PE per year Operations in 10 countries 28 different production technologies 58% production / 17% sales in Greece Sales network in 80 countries / Sales in 24 market segments FY 2018 Group Sales 322 mil € / 2015-2018 CAPEX 113.8 mil € 1,843
Slide 5: Global Presence
THRACE GROUP I GLOBAL PRESENCE ▪ Presence in 10 countries ▪ Production and trading facilities in 11 locations ▪ Trading facilities in 3 locations 100% JV Technical Fabrics BU Packaging BU CORPORATE PRESENTATION I 5 5
Slide 6: Production & Revenue Breakdown (2018)
THRACE GROUP I PRODUCTION & REVENUE BREAKDOWN (2018) Production Geographical Breakdown S-E Europe 11% America 11% UK 20% Greece 58% ▪ 58% of group production in Greece (increased due to the investment plan of 2015 – 2016 which was focused in Greece. ▪ Strong sales diversification through our global
Slide 7: Technical Fabrics Business Unit
TECHNICAL FABRICS BUSINESS UNIT CORPORATE PRESENTATION I 7 7
Slide 8: Technical Fabrics BU: Products by Application
TECHNICAL FABRICS BU I PRODUCTS BY APPLICATION GEOSYNTHETICS CONSTRUCTION AGRI/HORTICULTURE LANDSCAPE- SPORT & LEISURE AQUACULTURE GARDENING MEDICAL & HYGIENE FILTRATION FURNITURE & AUTOMOTIVE FIBC / PACKAGING BEDDING FABRICS ADVANCED FABRICS/ FLOOR COVERING INDUSTRIAL FABRICS ARNO WEBBINGS/ INDUSTR
Slide 9: Technical Fabrics BU: Overview 2018
TECHNICAL FABRICS BU I OVERVIEW 2018 ▪ 55% of production in Greece (following the investments of 2015-2016) but only 2% of sales in Greece ▪ Global sales presence but mainly Europe (well diversified within Europe) and America CORPORATE PRESENTATION I 9 9
Slide 10: Technical Fabrics BU: Competition
TECHNICAL FABRICS BU I COMPETITION CORPORATE PRESENTATION I 10 10
Slide 11: Packaging Solutions Business Unit
PACKAGING SOLUTIONS BUSINESS UNIT CORPORATE PRESENTATION I 11 11
Slide 12: Packaging BU: Products
PACKAGING BU I PRODUCTS BAGS/FFS FILMS PALLET COVERING/ CONTAINER LINERS/ FABRICS PACKAGING FILM CARGO PROTECTION INJECTION/BUCKETS/ THERMOFORMING EPS CONTAINERS & CRATES PAILS/CONTAINERS CUPS TRAYS BAG IN BOX GARBAGE BAGS ROPES & TWINES CORPORATE PRESENTATION I 12 12
Slide 13: Packaging BU: Overview 2018
PACKAGING BU I OVERVIEW 2018 * Includes Bulgaria, Albania, Romania, Serbia, Slovenia, Croatia, FYROM, Bosnia-Herzegovina, Montenegro, Kosovo ** Includes all other European countries plus Russia, ▪ 65% of production and 55% of sales in Greece Ukraine and Georgia ▪ Main markets are Greece and SE Europ
Slide 14: Packaging BU: Competition
PACKAGING BU I COMPETITION CORPORATE PRESENTATION I 14 14
Slide 15: Strategy
STRATEGY Pursuing profitable growth through investment in capacity & innovation CORPORATE PRESENTATION I 15 15
Slide 16: Strategy Overview: Profitable Growth
THRACE GROUP I STRATEGY OVERVIEW Profitable Growth Market-driven Value Capture Organic growth (increase margins) ▪ Increase Capacity ▪ Further reduce production cost ▪ Geographical expansion ▪ Improvement of Product Mix (shift of sales to the high margin products) ▪ Focus on two major growth markets
Slide 17: Strategy Progress: Market-driven Organic Growth
THRACE GROUP I STRATEGY PROGRESS Market-driven Organic Growth CAPEX (in mil €) 2015 - 2016 2017 - 2018 Technical Fabrics 40.7 48.9 Packaging 14.4 13.2 Agricultural & Other 1.6 4.8 Total CAPEX 56.7 57.1 CAPEX in Greek subsidiaries 42.7 18.0 CAPEX in subsidiaries abroad 14.0 39.1 Additional Volumes (i
Slide 18: Strategy Progress: Value Capture
THRACE GROUP I STRATEGY PROGRESS Value Capture (increase margins) Further reduce Production Cost Energy Management: target to reduce kwh/kg by 30% Control cost per man-hour: improve competitiveness Reduce scrap rates Improvement of Product Mix Increase the number of sales people Add new channels to
Slide 19: Financial Review
FINANCIAL REVIEW CORPORATE PRESENTATION I 19 19
Slide 20: FY 2018 IFRS Financial Results: P&L Summary
FY 2018 IFRS FINANCIAL RESULTS I P&L SUMMARY amounts in 000s € 2018 2017 y-o-y Turnover 322,733 318,509 1.3% Cost of Goods Sold -259,508 -251,619 3.1% Gross profit 63,225 66,890 -5.5% Gross profit margin 19.6% 21.0% Operating Expenses -49,528 -49,711 -0.4% EBIT 13,697 17,179 -20.3% EBIT margin 4.2%
Slide 21: FY 2018 IFRS Financial Results: Highlights
FY 2018 IFRS FINANCIAL RESULTS I HIGHLIGHTS ▪ The Group’s sales volume remained in the same levels with the year 2017 at 121.9 thousand tons. ▪ Sales volume in Technical Fabrics B.U. reached 93.5 th. tons in 2018 versus 96.3 th. tons in 2017 (-2.9%) ▪ Sales volume in Packaging B.U. reached 34.5 th.
Slide 22: Group Revenue Bridge
FY 2018 IFRS FINANCIAL RESULTS I GROUP REVENUE BRIDGE (€ ‘000) CORPORATE PRESENTATION I 22 22
Slide 23: Group EBT Bridge
FY 2018 IFRS FINANCIAL RESULTS I GROUP EBT BRIDGE (€ ‘000) CORPORATE PRESENTATION I 23 23
Slide 24: Polymer Prices 2015–2018
FY 2018 IFRS FINANCIAL RESULTS I POLYMER PRICES 2015 – 2018 1,600 1,500 1,400 1,300 1,200 1,100 1,000 ▪ Significant increase in Polymer prices during 2017-2018 with unfavourable trend ▪ Continuing to manage pricing impact CORPORATE PRESENTATION I 24 24
Slide 25: FY 2018 Technical Fabrics Business Unit Overview
FY 2018 TECHNICAL FABRICS BUSINESS UNIT I OVERVIEW Key P & L Items FY FY (amounts in €’000) 2018 2017 Sales 243.980 247.789 y-o-y Change % -1.5% EBITDA 15.528 18.910 EBITDA margin 6.4% 7.6% CORPORATE PRESENTATION I 25 25
Slide 26: FY 2018 Packaging Business Unit Overview
FY 2018 PACKAGING BUSINESS UNIT I OVERVIEW Key P & L Items FY FY (amounts in €’000) 2018 2017 Sales 91.642 83.726 y-o-y Change % +9.5% EBITDA 11.978 11.519 EBITDA margin 13.1% 13.8% CORPORATE PRESENTATION I 26 26
Slide 27: FY 2018 IFRS Financial Results: BS Summary
FY 2018 IFRS FINANCIAL RESULTS I BS SUMMARY amounts in 000s € 2018 2017 Key Ratios 2018 2017 Tangible Assets 136,076 114,507 Total Bank Debt 101,186 88,400 Intangible Assets 11,567 11,424 Cash 22,824 30,593 Other NC Assets 19,377 21,842 Net Debt 78,362 57,807 Non Current Assets 167,020 147,773 Net D
Slide 28: Cash Flow Summary
FY 2018 IFRS FINANCIAL RESULTS I CASH FLOW SUMMARY amounts in 000s € 2018 2017 Profit before Taxes & MI 10,005 13,834 Depreciation 13,803 12,952 Interest & related (income)/expense 4,547 5,439 Other -933 -543 Adjusted EBITDA 27,422 31,682 (Increase)/Decrease in WC -4,194 -3,510 Interest & Taxes paid
Slide 29: Net Debt
FY 2018 IFRS FINANCIAL RESULTS I NET DEBT ▪ The high investment plan that started in 2015 resulted in increased Net Debt in 2017 and 2018. ▪ Net Debt/EBITDA in 2018 was increased above the Group’s max ratio of 2x (2.85) however this is projected to reach the desired levels by 2020. CORPORATE PRESENT
Slide 30: Earnings Per Share
FY 2018 IFRS FINANCIAL RESULTS I EARNINGS PER SHARE 2018 2017 Earnings Before Taxes 10.005 13.834 Income Tax 1.976 3.025 Minority Interest 308 258 Profit Attributable to Shareholders 7.721 10.551 Adjusted # of Shares 43.737 43.741 EPS (in euro) 0,1765 0,2412 CORPORATE PRESENTATION I 30 30
Slide 31: Group Financial Performance: Stock Data
GROUP FINANCIAL PERFORMANCE I STOCK DATA Market Making: On March 26, 2018, the Company started Market Making with Alpha Finance and Eurobank Equities CORPORATE PRESENTATION I 31 31
Slide 32: Corporate Governance
THRACE GROUP I CORPORATE GOVERNANCE BOARD OF DIRECTORS Constantinos Chalioris: Chairman & Group CEO Christos Komninos: Non Executive Vice-Chairman George Braimis: Executive Member & Group COO Dimitris Malamos: Executive Member & Group CFO Vassilis Zairopoulos: Non-Executive Member Christos Chiatis:
Slide 33: Alternative Performance Measures: ESMA
ALTERNATIVE PERFORMANCE MEASURES I ESMA Alternative Performance Measures (APM) During the description of the developments and the performance of the Group, ratios such as the EBIT and the EBITDA are utilized. • EBIT (The indicator of earnings before the financial and investment activities as well as
Slide 34: Disclaimer
THRACE GROUP I DISCLAIMER This material (the “Presentation”) has been prepared, issued and presented by Thrace Plastics Co S.A. (the “Company”) on the terms set out below for the exclusive and confidential use of the persons to whom it is addressed (“Recipients”), solely for use by the Recipients in
Slide 35: Contacts
Contacts Investors Relations Ioanna Karathanassi ikarathanasi@thraceplastics.gr +30 210 9875081 Group CFO Dimitris Malamos dmalamos@thraceplastics.gr +30 210 9875016 www.thracegroup.com CORPORATE PRESENTATION I 35 35