Frigoglass S.a.i.c. · ATHEX:FRIGO

Frigoglass S.a.i.c — Q1 2016 Earnings Presentation

14 slides from Frigoglass S.a.i.c's earnings presentation, May 31, 2016

  1. Slide 1: Results Presentation

    Results Presentation First quarter 2016 results Nikos Mamoulis │Chief Executive Officer Manolis Fafalios │Chief Financial Officer May 31, 2016

  2. Slide 2: Ongoing review of Capital Structure

    Ongoing review of Capital Structure  €30m loan by Boval SA (Term Loan) approved at April AGM – Mature on 31 March 2017 – General corporate and working capital purposes – Substantially similar terms and conditions with RCFs  Extension of RCFs to March 2017 – €10m payment and cancellation  €20m dra

  3. Slide 3: First quarter highlights

    First quarter highlights  Cool sales decline – Difficult trading conditions in Russia – Breweries significantly down y-o-y – ICOOL penetration in West Europe  Glass sales reduction; – Economic challenges in Nigeria  EBITDA margin increase; +50bps y-o-y – Efficiency gains on Glass business – Cost

  4. Slide 4: Sales decline on weak Russia and competition in Asia

    Sales decline on weak Russia and competition in Asia 1Q Cool sales by region (in €m) -19% 33 27 -26% 24 +24% 18 18 15 +25% 12 10 1Q16 1Q15 1Q16 1Q15 1Q16 1Q15 1Q16 1Q15 East West Asia Africa & ME Europe Europe First quarter 2016 results 4 May 31, 2016

  5. Slide 5: Breweries down y-o-y; Coca-Cola up on ICOOL

    Breweries down y-o-y; Coca-Cola up on ICOOL 1Q Cool sales by customer group (in €m) +22% 49 -62% 40 34 +17% 13 14 12 1Q16 1Q15 1Q16 1Q15 1Q16 1Q15 Coca-Cola Breweries All Other Bottlers First quarter 2016 results 5 May 31, 2016

  6. Slide 6: Glass EBITDA margin improvement; +6.5pp y-o-y

    Glass EBITDA margin improvement; +6.5pp y-o-y 1Q Glass Sales (in €m) 1Q Glass EBITDA (in €m) -35% 26 +19% 17 5 Jebel Ali +18% 4  Efficiency improvement  Lower energy costs 8 7 Nigeria  Lower glass and plastics sales 1Q16 1Q15 1Q16 1Q15 1Q16 1Q15 Nigeria FJA Glass 18.2% 11.7% EBITDA margin, % Firs

  7. Slide 7: Financial review

    Financial review First quarter 2016 results 7 May 31, 2016

  8. Slide 8: Financial performance overview

    Financial performance overview 1Q16 1Q15 Change, % Group Sales 101.9 120.0 -15.1% EBITDA 10.7 12.0 -10.6% EBITDA Margin, % 10.5% 10.0% 0.5pp Net Profit -8.3 -3.9 n.m. Cool Operations Sales 76.3 86.5 -11.7% EBITDA 6.1 8.1 -24.9% EBITDA Margin, % 7.9% 9.3% -1.4pp Glass Operations Sales 25.6 33.5 -23.7

  9. Slide 9: Gross Profit margin improvement on efficiency gains

    Gross Profit margin improvement on efficiency gains (in €m) 1Q16 1Q15 Change, % Sales (€ m) 101.9 120.0 -15.1% Gross Profit 21.6 22.9 -5.8% Gross Profit Margin, % 21.2% 19.1% 2.1pp Operating Expenses 11.5 11.9 -4.0% OPEX as % of sales 11.3% 9.9% 1.4pp Gross profit and Operating Expenses exclude depr

  10. Slide 10: Net Debt at €309m, +7% y-o-y

    Net Debt at €309m, +7% y-o-y 370 61 RCFs 48 309 ST Loans 76 Bond 246 1Q16 1Q16 1Q16 Gross Debt Cash Net Debt First quarter 2016 results 10 May 31, 2016

  11. Slide 11: Business Outlook

    Business Outlook First quarter 2016 results 11 May 31, 2016

  12. Slide 12: Business outlook

    Business outlook  Ongoing market challenges; cautious on Russia and Nigeria  Execute innovation agenda for 2016  Across the board cost reduction  Free Cash Flow improvement  Stable, long-term capital structure by year-end First quarter 2016 results 12 May 31, 2016

  13. Slide 13: Q&A

    Q&A 13

  14. Slide 14: For further information on Frigoglass, please visit our website

    For further information on Frigoglass, please visit our website at: www.frigoglass.com or contact: John Stamatakos Investor Relations Manager jstamatakos@frigoglass.com +30 210 61 65 767 Disclaimer This presentation contains forward-looking statements which are based on current expectations and assu

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