Sig Group Ag · SIX:SIGN
Sig — Q1 2023 Earnings Presentation
11 slides from Sig's earnings presentation, May 4, 2023
Slide 1: May 2023
4 May 2023
Slide 2: Disclaimer
The information contained in this presentation is not for use within any Neither SIG nor any of its directors, officers, employees, agents, affiliates or These alternative non-IFRS measures are presented as we believe that they country or jurisdiction or by any persons where such use would constitut
Slide 3: Price increases recovering cost inflation
Price increases Margin slightly above Q1 Growth in non-filler First 4th generation recovering cost 2022 despite dilution capex to support filling machine and inflation from price increases expanding global new packaging and acquisitions footprint format in field and on Strong contribution shelves Si
Slide 4: Q1 2023 key financials
Revenue Adjusted EBITDA Adjusted net income Free cash flow Leverage € 729.0 million (2) constant currency million million million (Q4 2022: 3.1x) (Q1 2022: € 119 m) (Q1 2022: € 45 m) (Q1 2022: € (25) m) Adjusted EBITDA Net capital margin investment organic(1) constant currency (Q1 2022: 23.9%) milli
Slide 5: Strong start to the year with pricing effects accelerating
€ million • Strong start to the year with pricing effects accelerating • Price increases reflect high level of cost increases Revenue growth(1) in 2022 and cost inflation in 2023 (1),(2) € million • Strong volume growth in dairy in South Africa, Egypt, Saudi Arabia and Algeria • Price increases offs
Slide 6: Chinese customer demand impacted by COVID-19; Americas and APAC growth
€ million • Chinese customer demand impacted by high level of COVID-19 cases in January and early Chinese New Year holidays Revenue growth(1) • Demand picking up in Q2 in China (1),(2) • Strong volume growth in Vietnam and India € million • Strong volume performance in Brazil and the USA • Price inc
Slide 7: Adjusted EBITDA bridge
€ million • Pricing increases ahead of cost (1) (1) curve: recovering cost inflation 23.9% 24.0% • Production costs include higher wage, freight and energy costs • SG&A includes higher growth -9 -12 -9 investments 31 45 10 • First time contribution from 175 acquisitions on a Q1 basis 119 129 • Seque
Slide 8: Free cash flow and capital expenditure
Three months Three months ended March ended March € million 31, 2023 31, 2022 - Ramp up of sleeves plant in Net cash from operating activities 30 30 Mexico, reducing lead times for Acquisition of property, plant and equipment and North American customers (114) (46) intangible assets (net of sales) -
Slide 9: Net debt and leverage
Mar 31, 2023(1) Dec 31, 2022(2) • Stable leverage reflects strong € million adjusted EBITDA generation Gross debt 2,681 2,684 • Cash flow seasonally low in H1 Cash 394 504 • Refinancing in place for June 2023 €450M bond maturity Net debt 2,287 2,180 • Committed to reduce gross debt by Net leverage r
Slide 10: Guidance 2023
• Pass through resin Revenue growth Includes organic(1) escalator for bag-in- (constant currency) growth of 7-9% box and spouted pouch excluded from guidance Adjusted EBITDA Range of margin 24-25% • Guidance subject to Adjusted effective input cost and forex tax rate volatility Net CAPEX (% revenue)
Slide 11: Thank you!
Thank you!