Slide 1: Aquafil Group FY 2023 Financial Results
Aquafil Group [ECNL:IM] - [ECNLF: OTCQX] FY 2023 Financial Results March 14, 2024
Slide 2: 1. Key messages
1. Key messages ECONYL® BRANDED AND COMPLETED THE START-UP REGERATED PRODUCTS ACTIVITIES OF ENGINEERING ACCOUNTED PLASTICS IN EMEA FOR 49,6% OF REVENUES GENERATED FROM FIBERS DECLINE IN MARGINS IN 2023 SLIGHT DECLINE IN VOLUMES DUE TO THE HIGH UNIT VALUE OF COMPARED TO 2022 MAINLY THE INVENTORIES ST
Slide 3: 2. Financial results
2. Financial results Revenues EBITDA Net profit NFP 2023 2022 Δ% 2023 2022 Δ% 2023 2022 Δ% 31.12.23 31.12.22 Δ% FY 571,8 684,1 (16,4)% 47,5 92,3 (48,5)% (25,8) 29,2 (188,4)% 248,5 247,9 0,2% % on Revenues 8,3% 13,5% (4,5)% 4,3% 4Q 129,6 154,2 (16,0)% 10,5 19,1 (45,0)% (8,8) 3,0 (392,7)% % on Revenue
Slide 4: 2. Financial results - Revenues by components
2. Financial results - Revenues by components • Lower volumes of (4,7)% compared to FY 2022 but higher of 10,4% compared to 4Q 2022 4
Slide 5: 2. Financial results - Volumes
2. Financial results - Volumes EMEA: volumes ca (5,8)% vs FY22 and 22,9% vs 4Q22: – BCF, NTF and Polymers: lower quantity sold due to slow market demand on FY – Market recovery for BCF and polymers product lines in 4Q 2023 – Engineering plastics: ramp up of the project USA: volumes ca (4,2)% vs FY22
Slide 6: 2. Financial results – Revenues breakdown by Product Line and Area
2. Financial results – Revenues breakdown by Product Line and Area FY - % Revenues by Geographical Area FY - % Revenues by Product Line 16,1% 15,5% 7,8% 8,4% 18,6% 20,7% 31,9% 29,5% 73,6% 70,9% 51,6% 54,5% 2023 2022 2023 2022 EMEA North America Asia e Oceania BCF (fiber for carpet) NTF (fibre for te
Slide 7: 2. Financial results – Revenues: ECONYL® products
2. Financial results – Revenues: ECONYL® products • ECONYL® products increased from 43,5% to 49,6% vs FY22 FY - ECONYL Revenues on Fiber % 4Q - ECONYL Revenues on Fiber % 49,6% 43,5% 49,2% 43,8% 50,4% 56,5% 50,8% 56,2% 46,2% 37.4% 2023 2022 2023 2022 53,8% 62.9% Other Fibers ECONYL® Other Fibers ECO
Slide 8: 2. Financial results - P&L: KPI
2. Financial results - P&L: KPI FY 4Q 2023 2022 Δ% 2023 2022 Δ% Revenues 571,8 684,1 (16,4)% 129,6 154,2 (16,0)% EBITDA 47,5 92,3 (48,5)% 10,5 19,1 (45,0)% % on net Sales 8,3 % 13,5% 8,1% 12,4% EBIT (8,9) 37,6 (123,6)% (4,5) 5,2 (185,9)% % on net Sales (1,5)% 5,5% (3,4)% 3,4% EBT (26,0) 36,9 (170,4)
Slide 9: 2. Financial results - NFP and NPF/EBITDA
2. Financial results - NFP and NPF/EBITDA • NFP on 31st December 2023 equal to 248,5 €/mil versus 247,9 €/mil on 31st December 2022 • Ratio NPF/EBITDA LTM at x5,23 242 157 112 9
Slide 10: 3. Outlook
3. Outlook As stated during the previous events, in 2023 Europe witnessed a sharp, important decline in the prices of raw materials. This entailed a significant mismatch between the unit values of inventories stocked in 2022 and the market price, with a temporary, yet significant impact on the Group
Slide 11: 4. Appendix
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Slide 12: 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 13: Definitions
Appendix - Definitions “First choice revenues” are revenues generated by the sale of fibers and polymers, gross of any adjustments (for example, «FIRST CHOICE discounts and allowances), but excluding revenues generated by “non-first choice products”, revenues generated by REVENUES» Aquafil Engineeri
Slide 14: Consolidated Income Statement
Appendix - Consolidated Income Statement CONSOLIDATED INCOME STATEMENT December of wich December of wich Fourth of wich Fourth of wich €/000 2023 non-current 2022 non-current Quarter 2023 non-current Quarter 2022 non-current Revenue 571.806 209 684.074 1.160 129.577 208 154.169 311 of which related
Slide 15: Consolidated Income Statement – Revenues FY
Appendix - Consolidated Income Statement – Revenues FY FY 23 BCF (fiber for carpet) NTF (fibre for textile) Polymers TOTAL €/mln 2023 2022 Δ Δ% 2023 2022 Δ Δ% 2023 2022 Δ Δ% 2023 2022 Δ Δ% %23 %22 EMEA 184,6 217,9 (33,3) (15,3)% 71,4 103,3 (31,9) (30,9)% 39,2 51,8 (12,6) (24,3)% 295,2 372,9 (77,8) (
Slide 16: Consolidated Income Statement – Revenues 4Q
Appendix - Consolidated Income Statement – Revenues 4Q Q4 BCF (fiber for carpet) NTF (fibre for textile) Polymers TOTAL €/mln 2023 2022 Δ Δ% 2023 2022 Δ Δ% 2023 2022 Δ Δ% 2023 2022 Δ Δ% %23 %22 EMEA 44,0 46,0 (2,0) (4,4)% 13,5 24,1 (10,6) (44,0)% 9,4 9,6 (0,2) (2,4)% 66,8 79,7 (12,9) (16,1)% 51,6% 5
Slide 17: EBITDA and Adjusted Operating Results
Appendix - EBITDA and Adjusted Operating Results RECONCILIATION FROM NET PROFIT TO EBITDA December December Fourth Fourth €/000 2023 2022 Quarter 2023 Quarter 2022 Net Profit (Including Portion Attr. to Minority ) (25.849) 29.151 (8.781) 3.014 Income Taxes (143) 7.717 (2.320) 871 Amortisation & Depr
Slide 18: Consolidated Balance Sheet (1/2)
Appendix - Consolidated Balance Sheet (1/2) CONSOLIDATED BALANCE SHEET At December 31, At December 31, €/000 2023 2022 Intangible Assets 19.080 21.596 Goodwill 15.103 15.647 Tangible Assets 251.604 247.469 Financial Assets 534 831 of which related parties 79 318 Investments & Equity metod 1.023 1.01
Slide 19: Consolidated Balance Sheet (2/2)
Appendix - Consolidated Balance Sheet (2/2) CONSOLIDATED BALANCE SHEET At December 31, At December 31, €/000 2023 2022 Share Capital 49.722 49.722 Reserves 101.379 96.528 Group Net Profit for the year (25.849) 29.151 Group Shareholders Equity 125.252 175.401 Net Equity attributable to minority inter
Slide 20: Net Financial Position
Appendix - Net Financial Position NET FINANCIAL DEBT At December 31, At December 31, €/000 2023 2022 A. Liquidity 157.662 110.682 B. Cash and cash equivalents - C. Other current financial assets 5.703 9.964 D. Liquidity (A + B + C) 163.364 120.646 E. Current financial debt (including debt instrument
Slide 21: Consolidated Cash Flow Statement (1/2)
Appendix - Consolidated Cash Flow Statement (1/2) CASH FLOW STATEMENT At December 31, At December 31, €/000 2023 2022 Operation Activities Net Profit (Including Portion Attr. to Minority ) (25.849) 29.151 of which related parties (367) (57) Income Taxes (143) 7.717 Income (loss) from Investments (90
Slide 22: Consolidated Cash Flow Statement (2/2)
Appendix - Consolidated Cash Flow Statement (2/2) CASH FLOW STATEMENT At December 31, At December 31, €/000 2023 2022 Investing activities Investment in Tangible Assets (29.157) (34.864) Disposal of Tangible Assets 608 384 Investment in Intangible Assets (4.620) (4.163) Disposal of Intangible Assets
Slide 23: www.aquafil.com www.econyl.com www.dryarn.com
www.aquafil.com www.econyl.com www.dryarn.com