Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Non-Deal Roadshow (May 2011)
24 slides from Frigoglass S.a.i.c's roadshow presentation, May 2011
Slide 1: Investor Presentation – Proton Bank Roadshow in Copenhagen
www.frigoglass.com Proton Bank Roadshow in Copenhagen (2 – 3 May) Investor Presentation
Slide 2: What we do
www.frigoglass.com 2 Investor presentation What we do Ice Cold Merchandisers Full Year 2010: Sales €375.2 million (82% of total revenues) Glass Operations Full Year 2010: Sales €82.0 million (18% of total revenues)
Slide 3: Global presence
www.frigoglass.com 3 Investor presentation Global Cool operations Cool operations Cool operations Cool operations Cool operations Glass operations presence North America Western Europe Eastern Europe Asia Pacific Africa/Middle East Africa Production Production Production Production Production Produc
Slide 4: Our History and Our investment proposition
www.frigoglass.com 4 Investor presentation Our History 1982 1996 1999 2001 Inception of the industrial Frigoglass formed as a Acquisition of Norcool, Acquisition of Husky in division of Cola-Cola spin-off Frigoglass listed on the South Africa Hellenic Bottling Company Athens Stock Exchange 2007 2008
Slide 5: Consolidated Revenue Breakdown
www.frigoglass.com 5 Investor presentation Consolidated Revenue Breakdown Revenues by geography Revenue by customer 2010 Variance 2007 2010 Variance 2007 East Europe 131.4 -36% 206.0 Coca-Cola Hellenic 101.6 -32% 155.3 West Europe 72.3 -44% 130.0 Coca-Cola Bottlers 138.4 26% 113.3 Africa/Middle East
Slide 6: Operational and Financial Milestones
www.frigoglass.com 6 Investor presentation Operational and Financial Milestones • PET and vehicles operation divestment in 2006 • 2008 EBITDA excludes net restructuring charges of €2.9 million • SFA acquisition in Turkey in 2008 • 2008 Net Profit excludes net restructuring charges of • PET and TSG o
Slide 7: ICM Key Industry Features
www.frigoglass.com 7 Investor presentation ICM Key Industry Features Immediate Geographical Market tailwinds Environment Consumption Diversification • Population Increase • Most profitable channel for Beverage Companies • Expanded footprint, • GDP growth accommodates • Key industry priority • Furthe
Slide 8: Fourth Quarter 2010 highlights
www.frigoglass.com 8 Investor presentation Fourth Quarter 2010 highlights • Sales advanced by 17.8% in Q4 y-o-y, cycling a strong Q4 2009. • Sales at Cool Operations increased by 19.0% in Q4, reflecting ongoing strong momentum in Eastern Europe (+95%) and sales growth acceleration in Africa/Middle E
Slide 9: Full Year 2010 highlights
www.frigoglass.com 9 Investor presentation Full Year 2010 highlights • Maintaining leading global position in the ICM market. • Continued positive trends in the emerging markets and signs of recovery in Europe. • EcoCool reached 25% of European sales, delivering sustainable environmentally-friendly
Slide 10: Full Year 2010 Financial Highlights
www.frigoglass.com 10 Investor presentation Full Year 2010 Financial Highlights (in €m) FY 2009 FY 2010 Y-o-Y % Q4 2009 Q4 2010 Y-o-Y % Sales 346.7 457.2 31.9% 93.9 110.6 17.8% COGS 273.6 350.4 28.1% 75.7 85.1 12.5% Gross Profit 73.0 106.8 46.2% 18.2 25.5 40.1% Operational Expenses 46.9 59.9 27.5% 1
Slide 11: Balance Sheet
www.frigoglass.com 11 Investor presentation Balance Sheet (in €m) FY 2009 FY 2010 Fixed Assets 198.4 208.9 Deferred Tax Assets 10.4 12.6 Other Long Term Receivables 1.3 0.7 Inventories 91.5 135.9 Trade Debtors 83.6 92.0 Other Debtors 30.9 30.6 Cash at bank & in hand 42.8 80.0 TOTAL ASSETS 458.8 560.
Slide 12: Cash Flow
www.frigoglass.com 12 Investor presentation Cash Flow (in €m) FY 2009 FY 2010 Cash Generated 37.3 62.6 +68% Working Capital Movement 14.8 -32.0 Net Cash Flow from Operations 52.1 30.7 Net Cash Flow from Investment Activities -16.7 -28.6 Free Cash Flow 35.3 2.1 Increase in Bank Loans -21.7 42.4 Divid
Slide 13: Cool Operations
www.frigoglass.com Investor presentation Cool Operations
Slide 14: Cool operations (Ice cold merchandisers)
www.frigoglass.com 14 Investor presentation Cool operations (Ice cold merchandisers) ICMs are an integral part of beverage companies’ strategy to increase Immediate Consumption across different trade channels
Slide 15: Cool Operations Full Year 2010 highlights
www.frigoglass.com 15 Investor presentation Cool Operations Full Year 2010 highlights • Cool Operations Revenue increased by 37.0% for the full year to €375.2 million, with a 30.0% increase in volume. • Sales in Eastern Europe continued to demonstrate strong growth in Q4, and increased by 89.0% for
Slide 16: Cool Operations Revenue Breakdown
www.frigoglass.com 16 Investor presentation Cool Operations Revenue Breakdown Revenue by Geography Revenue by Customer 2010 2009 Y-o-Y % 2010 2009 Y-o-Y % Eastern Europe 131.4 69.5 89.0% Coca-Cola Hellenic 62.6 39.3 59.1% Western Europe 72.3 65.9 9.7% Coca-Cola Bottlers 138.4 123.5 12.1% Africa / Mi
Slide 17: Cool Operations 2010 Financial Highlights
www.frigoglass.com 17 Investor presentation Cool Operations 2010 Financial Highlights (in €m) FY 2009 FY 2010 Y-o-Y % Q4 2009 Q4 2010 Y-o-Y % Sales 273.9 375.2 37.0% 74.0 88.1 19.0% EBIT* 15.8 33.6 112.3% 4.5 4.8* 6.8% Net Profit (Before one-off tax 2.7 13.1 390.4% 1.2 0.2 -86.1% contribution) Net P
Slide 18: Greenovation: working together with our customers
www.frigoglass.com 18 Investor presentation Ecocool The first 25% of complete range European of sales in environmentally 2010 friendly coolers Efficient Eco-Life Natural Design Eco- Energy cycle Refrigerants Energy- Production Mgmt Compatibility Hydrocarbons efficient HFC-free System up with & Carbo
Slide 19: Glass Operations
www.frigoglass.com Investor presentation Glass Operations
Slide 20: Glass Operations
www.frigoglass.com 20 Investor presentation Glass Operations Glass bottles are the most important packaging form in Western Africa. Frigoglass offers a complete solution with the production of Metal Crowns and Plastic Crates
Slide 21: Glass Operations Financial Highlights
www.frigoglass.com 21 Investor presentation Glass Operations Financial Highlights Full Year 2010 • Glass Operations Sales increased 12.7% in Euro terms for the full year to €82.0 million. 17% Glass • Glass Sales increased 9.2% for the full year to €56.6 14% Crowns million. The performance includes t
Slide 22: Outlook
www.frigoglass.com 22 Investor presentation 2011 Outlook • We expect to maintain our positive momentum in the emerging regions and continued recovery in Europe. • We expect increased sales contribution from our recent investments in North America and the Philippines. • Glass is expected to maintain
Slide 23: Strategic platform for growth
www.frigoglass.com 23 Investor presentation Third Quarter 2010 Financial Results Strategic platform form growth Sustainability Creating Sustain growth ICM Geographic Integration in optimum Innovation of Glass expansion Corporate platform for Operations Strategy future growth Development new bespoke
Slide 24: Thank You
www.frigoglass.com 24 Investor presentation Thank You For further information on Frigoglass please visit our website at: www.frigoglass.com or contact our Investor Relations Department Lillian Phillips, Head of Corporate Communications lphillips@frigoglass.com John Stamatakos, Investor Relations Man