Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q2 2019 Earnings Presentation
13 slides from Frigoglass S.a.i.c's earnings presentation, Aug 7, 2019
Slide 1: Results Presentation Second-quarter 2019
Results Presentation Second-quarter 2019 Nikos Mamoulis │Chief Executive Officer Harris Goritsas │Chief Financial Officer 7 August 2019
Slide 2: Forward Looking statements
Forward Looking statements This presentation may contain 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
Slide 3: Second-quarter 2019 highlights
Second-quarter 2019 highlights Continued Commercial Refrigeration sales growth momentum; +14% y-o-y Double-digit sales growth in Glass Group comparable EBITDA margin enhancement by 140bps y-o-y, to 17.8% Strong Free Cash Flow generation Net Debt/LTM EBITDA at 3.1x Second-quarter 2019 resul
Slide 4: Commercial Refrigeration sales growth in Europe and Asia
Commercial Refrigeration sales growth in Europe and Asia Commercial Refrigeration 2Q Commercial Refrigeration sales by region (in €m) sales up by 14% y-o-y Growth momentum +25% accelerated in East Europe; 72 incremental placements from soft-drink customers and 58 market share gains with breweries +1
Slide 5: Continued growth momentum in Glass; sales +14% y-o-y
Continued growth momentum in Glass; sales +14% y-o-y 2Q Glass sales (in €m) Continuing Operations (Nigerian Operations) +1.5 -0.7 30 +2.7 26 Glass Metal Plastic 2Q18 2Q19 Containers Crowns Crates Glass containers sales up by double digit with strong demand from breweries and wine & spirits Conti
Slide 6: Financial review
Financial review Second-quarter 2019 results 6 7 August 2019
Slide 7: Financial performance overview
Financial performance overview Group (in €m) 2Q19 2Q18 Change, % Sales 162.7 142.4 14.2% Comparable EBITDA1 28.9 23.3 24.2% Comparable EBITDA margin, %1 17.8% 16.3% 1.4pp Net Profit2 8.8 -0.8 n.m. Group (in €m) 1H19 1H18 Change, % Sales 288.3 248.1 16.2% Comparable EBITDA1 47.3 36.4 30.0% Comparable
Slide 8: 2Q segmental performance overview
2Q segmental performance overview ICM Operations Commercial Refrigeration Operations 2Q19 2Q18 Change, % (in €m) Sales: - Solid growth across in Sales 133.2 116.4 14.4% Europe and Asia Comparable EBITDA1 20.1 15.7 27.7% EBITDA margin: Comparable EBITDA margin, %1 15.1% 13.5% 1.6pp - Improved cost ab
Slide 9: 1H segmental performance overview
1H segmental performance overview ICM Operations Commercial Refrigeration Operations 1H19 1H18 Change, % (in €m) Sales: - Incremental sales in Sales 230.2 197.6 16.5% Europe and Asia; Africa Comparable EBITDA1 31.2 22.8 37.0% flat y-o-y Comparable EBITDA margin, %1 13.6% 11.5% 2.1pp EBITDA margin: N
Slide 10: Strong cash flow generation
Strong cash flow generation Group (in €m) 1H19 1H18 Change Comparable EBITDA1 47.3 36.4 10.9 Net Trade Working Capital Change -28.0 -15.9 -12.1 Capital Expenditure -8.3 -7.1 -1.2 Adjusted Free Cash Flow2 21.0 18.5 2.5 Net Debt / LTM EBITDA 3.1x 3.3x Net Trade Working Capital – Inventory build-up, an
Slide 11: Business Outlook
Business Outlook Second-quarter 2019 results 11 7 August 2019
Slide 12: Business Outlook
Business Outlook FY19 top-line growth and Comp. EBITDA margin expansion Commercial Refrigeration sales growth in FY19; growth to moderate in 2H Sustained momentum in Glass Cost base reduction initiatives; Production discontinuation of Greek plant to support margin enhancement FY20 glass fu
Slide 13: Q&A
Q&A For further information on Frigoglass please visit our website at: www.frigoglass.com Or contact: John Stamatakos Group Treasury & IR Manager jstamatakos@frigoglass.com +30 210 61 65 767