Thrace Plastics Holding And Commercial S.a. · ATHEX:PLAT
Thrace Plastics Holding And Commercial — Thrace Group — Investor Presentation (June 2024)
44 slides from Thrace Plastics Holding And Commercial's investor presentation, June 2024
Slide 1: Corporate Presentation I June 2024
CORPORATE PRESENTATION I June 2024
Slide 2: The Group
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 2 The Group ▪ At a Glance ▪ Technical Fabrics Segment ▪ Packaging Segment ▪ Agricultural Segment
Slide 3: Thrace at a glance
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 3 Thrace at a glance [GRI: 102-6, 102-7] Engages in Covers Employs Develops in Implements Reuse of Operations in 3 business 25 market 2,091 80 28 different 100% 9 countries units segments employees countries technologies internal recyc
Slide 4: Technical Fabrics Segment Applications
GROUP GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 4 Technical Fabrics Segment Geotextiles (woven, Fabrics Nets Yarns nonwoven) • Production and trade of synthetic fabrics for industrial Families Product and technical uses. Geogrids Membranes Strapes Fibres • Broad and diversifie
Slide 5: Technical Fabrics Segment: Production & Revenue breakdown
GROUP GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 5 Production & Revenue breakdown Technical Fabrics Segment Revenue 2023 EBITDA 2023 EBITDA MARGIN 230.8mil 24.6mil 10.7% European based production with global footprint and extended sales network PRODUCTION GEOGRAPHICAL SALES GEO
Slide 6: Packaging Segment Applications
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 6 Packaging Segment FIBC / filling solutions Container liners / Thermoforming Garbage bags • Production and trade of food and industrial product cargo protection cups Families Product packaging. Bags / FFS film Twines Packaging fabrics
Slide 7: Packaging Segment: Production & Revenue breakdown
GROUP GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 7 Production & Revenue breakdown Packaging Segment Revenue 2023 EBITDA 2023 EBITDA MARGIN 125.2mil 19.7mil 15.7% SE Europe based production and sales, with leading market share in a variety of products PRODUCTION GEOGRAPHICAL SAL
Slide 8: Agricultural Segment
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 8 Agricultural Segment Cluster Beef Eggplant Mini Cucumber • The largest hydroponic greenhouses in Southeast Tomato Tomato 600gr Families Product Europe. • The only greenhouses in the world heated exclusively Mini Cucumber Mini Tomato
Slide 9: Agricultural Segment
GROUP GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 9 Agricultural Segment Revenue 2023 EBITDA 2023 EBITDA MARGIN 8.9 mil. 2.0 mil. 22.5% ▪ New greenhouses (6.5 Ha), increase of volume and product portfolio ▪ Strong demand and positive feedback for our packaged products, new varie
Slide 10: Strategy
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 10 Strategy ▪ Overview ▪ CAPEX
Slide 11: Strategy Overview
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 11 Strategy Overview Group Strategy Pursuing Profitable growth through innovation and sustainability Focus on Adding Value Products Explore New Business Opportunities Safeguarding Financial Discipline Technical Fabrics Segment Packagin
Slide 12: Capex Progress
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 12 Capex Progress Focus is placed on profitability Normally, An extensive cash CAPEX plan increase and value adding • 70% of CAPEX for New Business technologies, in parallel with • 30% maintenance and of €149 mil. during the last 5 tar
Slide 13: FY2024 CAPEX Plan
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 13 FY2024 CAPEX Plan Aligned with strategic FY 2024 investment program (~€30 mil.) : priorities, FY2024 CAPEX ▪ New extrusion coating line, expanding the conversion capabilities and going focuses on increasing downstream the value chai
Slide 14: Approach to Sustainable Development
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 14 Approach to Sustainable Development ▪ Operating with respect to society and the environment ▪ Creating solutions for a sustainable future
Slide 15: Sustainable Development
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 15 Sustainable Development We are implementing a robust strategy according to UN SDGs PRINCIPLES OBJECTIVES SIGNIFICANT IMPACT ON 7 SDGs
Slide 16: Sustainable Development: Circular Economy
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 16 Sustainable Development Focus on Circular Economy by developing sustainable products with a positive environmental impact Design priorities Recyclability, traceability & transparency • Low environmental footprint • RecyClass • Lowes
Slide 17: Sustainable Development: Energy Efficiency
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 17 Sustainable Development Focus on energy efficiency, which is a never-ending effort ENERGY EFFICIENCY IMPROVEMENT RENEWABLE ENERGY Carbon footprint For the monitoring & calculation of Total energy consumption in 2023 7.8% greenhouse
Slide 18: Sustainable Development: In the Loop
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 18 Sustainable Development Strong progress in the expansion of IN THE LOOP platform, aiming to link stakeholders and upcycling the plastic waste In the Loop • Is based on the 3 pillars of the circular economy REDUCE | REUSE | RECYCLE a
Slide 19: Sustainable Development: Local Communities
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 19 Sustainable Development Creation We contribute to theand safeguarding local of employment societies, with many initiatives for the local communities SUPPORTING LOCAL COMMUNITIES RESPECT OF HUMAN RIGHTS The Group is committed to crea
Slide 20: Sustainable Development: Corporate Governance
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 20 Sustainable Development Creation Robust Corporate and safeguarding Governance of employment framework, being part of who we are and how we operate BOARD OF DIRECTORS CORPORATE GOVERNANCE COMPLIANCE • 11 Board Members: 2 executive me
Slide 21: Sustainable Development Recognitions
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 21 Sustainable Development The Group consistently aligns with the most significant initiatives for sustainable development 2018 Disclosure of the approach and the annual performance based on GRI standards 2019 Value chain collaboration
Slide 22: Financial Review FY 2023
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 22 Financial Review FY 2023 ❖ Another year of strong financial performance in a highly challenging environment
Slide 23: Financial Results FY2023 vs FY2022 Snapshot
FINANCIAL RESULTS FY2023 VS FY2022 CONSOLIDATED GROUP FIGURES Snapshot Financial Performance Segments (in €’000) Volumes sold(tons) Turnover FY 23 Dividend Change 2023 In the first months 2023 2022 of 2022, the prices +0.5% of raw materials 2022 Annual. 109.8 thous. 109.2 thous. had fluctuated at hi
Slide 24: FY23 Highlights
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 24 FY23 Highlights Macroeconomic Environment Markets ▪ European economy in recession, suffering from ▪ Weak demand in Construction segment across Europe, constant inflation and high interest rates – Greece at a
Slide 25: FY23 Highlights: Technical Fabrics and Packaging
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 25 FY23 Highlights Technical Fabrics Packaging ▪ Technical Fabrics in Europe suffered due to low demand ▪ High demand for packaging products in all countries of and increased imports in commodity products opera
Slide 26: Financial Analysis
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 26 Financial Analysis On comparable terms, EBITDA posted an increase of 2.4%, amounting to €44 mil. for 2023 Continuing Operations (in €’000) FY 2023 FY 2022 Δ% Volumes (Tons) 109,757 109,169 0.5% FY2023 volume
Slide 27: Financial Results
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 27 Financial Results Turnover Robust financial performance, with increased recurring EBITDA and lower Net Debt 2023 Recurring EBITDA Recurring EBT -12.4% 2022 50.0 30 +2.4% -8.9% 45.0 25 40.0 394.4 mil. 35.0 20
Slide 28: Segmental Performance
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 28 Segmental Performance Volumes Gross Profit ▪ Technical Fabrics business 100 70 56.5 60 suffered from low demand in 80 75.3 76.2 50 47.6 main market segments 60 40 (construction, agriculture) 40.2 38.5 30 28.
Slide 29: Financial Position
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 29 Financial Position Further strengthen of Group’s Balance Sheet, with increased assets base, as a result on new CAPEX Balance Sheet (in €’000) 2023 2022 Key Ratios Total Operations 2023 2022 Fixed Assets 191,
Slide 30: Working Capital
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 30 Working Capital Working Capital days have returned to normality. Inventories higher days, but lower in absolute numbers • DSO, DPO, DIO follow a normal pattern, excluding 2021, which is AR Evolution AP Evolu
Slide 31: Cash Flow Overview
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 31 Cash Flow Overview Strong Operating Cashflows, financing CAPEX, while FCF of €20mil. mainly allocated to debt repayment and dividends
Slide 32: Net Debt
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 32 Net Debt 120 3.5 100 3.0 2.5 • Net Debt/EBITDA (x) 80 Net Debt (Eur m) 2.0 After the historical high net debt of 60 1.5 €84 mil. in 2019, following the 5yrs 40 1.0 restructuring plan, Net Debt has 20 0.5 set
Slide 33: Financial Review Q1
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 33 Financial Review Q1 ❖ A quarter of robust financial performance and increased EBITDA margin
Slide 34: Key highlights of Q1 2024 performance
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 34 Key highlights of Q1 2024 performance Volumes EBITDA Net Debt Investments sold (tons) +5.4% €17.5 mil. ~€30 mil. +3.1% EBITDA amounted to Low level of Net The volumes sold €12.3 mil. due to: Debt, despite Th
Slide 35: Financial Results
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 35 Financial Results EBITDA EBITDA EBIT EBIT 14.0 8 8 14.0 +5.4% +5.4% +1.3% +1.3% 12.0 12.0 6 6 10.0 10.0 Continuing Operations (in €’000) Q1 2024 Q1 2023 Δ% 8.0 8.0 4 4 12.3 6.0 12.3 11.7 Turnover 88,347 92,9
Slide 36: Financial Position
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 36 Financial Position Balance Sheet (in €’000) 31/3/2024 31/12/2023 Fixed Assets 196,427 191,253 Other NC Assets 28,246 30,472 Non Current Assets 224,673 221,725 Inventories 76,703 72,003 Receivables 73,327 62,
Slide 37: Capex
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL FINANCIAL OUTLOOK SHARE STOCK PAGE 37 Capex FY 2024 investment program progress (~€30 mil.) : ▪ New extrusion coating line, expanding the conversion capabilities and going downstream the value chain CAPEX Evolution aiming the construction and ag
Slide 38: Outlook H1 & FY2024
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 38 Outlook Η1 & FY2024
Slide 39: 2024 Outlook
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 39 2024 Outlook H1 2024 FY 2024 • EBITDA will range at the Group’s Management same or higher level estimates that the annual compared to the first half of the previous year EBITDA of FY2024 could Thrace Group is now, be higher vs prior
Slide 40: Thrace Group Stock Data
GROUP SUSTAINABILITY STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 40 Thrace Group STOCK |DATA ❖ Sufficient free float and well diversified investors portfolio. Focusing on achieving strong dividend yields for our shareholders
Slide 41: Shareholders Analysis
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 41 Shareholders Analysis Strong and increasing dividend yields starting from 2020, 1.6.2024 clearly targeted by the Group Shareholders Breakdown Gross Dividend per share & Dividend Yield 6.5% 5.9% 5.7% 4.4% 8.7% 2.4% 0.27 € 0.26 € 1.9%
Slide 42: Alternative Performance Measures
GROUP STRATEGY SUSTAINABILITY FINANCIAL OUTLOOK SHARE STOCK PAGE 42 Alternative Performance Measures 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
Slide 43: Disclaimer
GROUP SUSTAINABILITY STRATEGY FINANCIAL OUTLOOK SHARE STOCK PAGE 43 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 addresse
Slide 44: Contacts
Contacts Investors Relations Elina Sideri ir@thraceplastics.gr +30 210 9875081 Connect with us: www.linkedin.com/company/thrace-group/ www.thracegroup.com