Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q3 2019 Earnings Presentation
13 slides from Frigoglass S.a.i.c's earnings presentation, Dec 12, 2019
Slide 1: Results Presentation Third-quarter 2019
Results Presentation Third-quarter 2019 Nikos Mamoulis │Chief Executive Officer Harris Goritsas │Chief Financial Officer 12 December 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: Third-quarter 2019 highlights
Third-quarter 2019 highlights Sustained Commercial Refrigeration sales growth momentum; +23% y-o-y Double-digit sales growth in Glass Group comparable EBITDA margin improvement by 117bps y-o-y, to 16.1% Solid Free Cash Flow generation, despite higher y-o-y capex Net Debt/LTM EBITDA at 3.0x
Slide 4: Commercial Refrigeration sales growth in Europe and Asia
Commercial Refrigeration sales growth in Europe and Asia Commercial Refrigeration 3Q Commercial Refrigeration sales by region (in €m) sales up by 23% y-o-y Growth momentum accelerated in East Europe; +52% incremental placements from 32 soft-drink customers and market share gains with breweries +7% 2
Slide 5: Continued growth momentum in Glass; sales +13% y-o-y
Continued growth momentum in Glass; sales +13% y-o-y 3Q Glass sales (in €m) Continuing Operations (Nigerian Operations) +5 -2 27 24 Glass Metal Plastic 3Q18 3Q19 Containers Crowns Crates Sales growth reflects volume growth and pricing in glass containers business Glass containers sales up by dou
Slide 6: Financial review
Financial review Third-quarter 2019 results 6 12 December 2019
Slide 7: Financial performance overview
Financial performance overview Group (in €m) 3Q19 3Q18 Change, % Sales 96.6 80.3 20.3% Comparable EBITDA1 15.5 12.0 29.7% Comparable EBITDA margin, %1 16.1% 14.9% 1.2pp Net Profit2 -1.6 -3.4 n.m. Group (in €m) 9M19 9M18 Change, % Sales 384.8 328.4 17.2% Comparable EBITDA1 62.9 48.4 29.9% Comparable
Slide 8: 3Q segmental performance overview
3Q segmental performance overview ICM Operations Commercial Refrigeration Operations 3Q19 3Q18 Change, % (in €m) Sales: - Strong growth in Europe Sales 69.7 56.6 23.2% and Asia Comparable EBITDA1 7.0 4.2 64.6% EBITDA margin: Comparable EBITDA margin, %1 10.0% 7.5% 2.5pp - Better cost absorption Net
Slide 9: 9M segmental performance overview
9M segmental performance overview ICM Operations Commercial Refrigeration Operations 9M19 9M18 Change, % (in €m) Sales: - Incremental sales in Sales 299.9 254.2 18.0% Europe and Asia; Comparable EBITDA1 38.2 27.0 41.3% - Africa down y-o-y Comparable EBITDA margin, %1 12.7% 10.6% 2.1pp EBITDA margin:
Slide 10: Strong cash flow generation
Strong cash flow generation Group (in €m) 9M19 9M18 Change Comparable EBITDA1 62.9 48.4 14.5 Net Trade Working Capital Change -14.8 12.9 -27.7 Capital Expenditure -13.3 -11.2 -2.1 Adjusted Free Cash Flow2 26.1 25.9 0.2 Net Debt / LTM EBITDA 3.0x 3.3x Net Trade Working Capital – Higher trade receivab
Slide 11: Business Outlook
Business Outlook Third-quarter 2019 results 11 12 December 2019
Slide 12: Business Outlook
Business Outlook Significant top-line growth and Comp. EBITDA margin improvement in FY19 Strong y-t-d performance Exceptional order from an ICM customer in 4Q19 Enhancement of Frigogserve’s customer base Operational improvements Cost base reduction initiatives Glass furnace rebuild in-
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