Vidrala Sa · BME:VID
Vidrala Sa — H1 2020 Earnings Presentation
14 slides from Vidrala Sa's earnings presentation, Jul 24, 2020
Slide 1: H1 2020 Results
H1 2020 RESULTS 24TH JULY 2020
Slide 2: Disclaimer
DISCLAIMER This presentation includes or may include representations or estimations concerning the future about intentions, expectations or forecasts of VIDRALA or its management. which may refer to the evolution of its business performance and its results. These forward looking statements refer to
Slide 3: H1 2020 Key Figures
H1 2020 KEY FIGURES - H1 2020 Change Organic change (constant currency basis) Net sales (EUR million) 474.4 -6.5% -6.5% EBITDA (EUR million) 122.4 -6.7% -6.6% Earnings per share (EUR/share) 2.30 -7.2% Debt (EUR million) 294.5 -26.8% Debt / LTM EBITDA (multiple) 1.1x -0.5x 3
Slide 4: Sales
SALES YEAR OVER YEAR CHANGE EUR million 600 -6.5% -6.5% YoY 500 -0.0% 507.5 400 474.4 300 200 100 H1 2019 Organic FX H1 2020 change effect 4
Slide 5: EBITDA
EBITDA YEAR OVER YEAR CHANGE EUR million 150 -6.7% -6.6% -0.1% YoY 125 131.2 100 122.4 75 50 25 0 H1 2019 Organic FX H1 2020 change effect 5
Slide 6: Operating Margins
OPERATING MARGINS YEAR OVER YEAR CHANGE As percentage of sales 28% 26% 25.9% 25.8% -10 bps 24% 22% 20% H1 2019 H1 2020 6
Slide 7: Earnings per Share
EARNINGS PER SHARE YEAR OVER YEAR EVOLUTION, SINCE 2016 EUR per share 3 -7.2% YoY 2.48 2.30 2 1 0 H1 2016 H1 2017 H1 2018 H1 2019 H1 2020 *Important: In order to improve comparability, historical data has been adjusted for the effect of bonus share issues. 7
Slide 8: Cash Profile
CASH PROFILE FREE CASH FLOW GENERATION LAST 12 MONTHS TO JUNE 2020 EUR million / as percentage of sales 300 27.2% 250 265.8 -10.4% 200 -1.2% 15.6% 150 152.6 100 50 0 EBITDA Capex WC & Others FCF 8
Slide 9: Debt
DEBT YEAR OVER YEAR EVOLUTION, SINCE 2018 Debt in EUR million and times EBITDA 700 2,5x 2.1x 600 2,0x 500 1.6x 1,5x 400 1.1x 300 1,0x 478 200 402 294 0,5x 100 0 0,0x Jun-18 Jun-19 Jun-20 9
Slide 10: H1 2020 Main Highlights
H1 2020 MAIN HIGHLIGHTS RESILIENT TOP-LINE PERFORMANCE AMID THE PANDEMIC Sales during the first six months 2020 amounted to EUR 474.4 million, showing an organic decline of 6.5%. SOLID OPERATING MARGINS Operating profit, EBITDA, was EUR 122.4 million representing an operating margin of 25.8%. FURTHE
Slide 11: FY 2020 Outlook, Reiterated
FY 2020 OUTLOOK, REITERATED BUSINESS UPDATE • Sales volumes during Q2 standalone down approx. -15%, as expected • Operating margins year-to-date consolidated at levels above 25% EBITDA over sales • Financial position remains solid, debt reduction approx. -25% year-on-year STRATEGIC GUIDELINES UNDER
Slide 12: Responsible
RESPONSIBLE CONSUMER CONSUMPTION COLLECTION THE JOURNEY OF A RECYCLED PACKAGING RECYCLING PRODUCTION yrecseleg , ’ cs cay + INFINITE _ CYCLE “Oduced bm
Slide 13: Annex. Alternative Performance Measures (APM)
ANNEX. ALTERNATIVE PERFORMANCE MEASURES (APM). Vidrala publishes this information in order to promote comparability and interpretation of its financial information and in compliance with the Directive of the European Securities and Markets Authority (ESMA) on Alternative Performance Measures (APM).
Slide 14: Annex. Alternative Performance Measures (APM)
ANNEX. ALTERNATIVE PERFORMANCE MEASURES (APM). i) EBITDA EUR million H1 2020 Source of data Profit before income tax from continuing operations 74.900 Consolidated Income Statement Amortisation and depreciation +43.523 Consolidated Income Statement Finance income -1.305 Consolidated Income Statement