Slide 1: Aquafil Group 9M and 3Q 2022 Financial Results
Aquafil Group 9M and 3Q 2022 Financial Results 8th November 2022
Slide 2: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 2
Slide 3: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 3
Slide 4: Key Messages
Key Messages REVENUES 9M 2022 OF RESULTS ECONYL® SHARPLY INCREASING BRANDED COMPARED TO PRODUCTS 9M 2021 UP BY 64.5% VS 9M21 REVENUES +26,4% VS 9M21 43.5% OF REVENUES EBITDA +23% VS 9M21 GENERATED BY FIBERS (1) On a like for like consolidation basis 4
Slide 5: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 5
Slide 6: 9M2022 Main Results
9M2022 Main Results REVENUES EBITDA NET PROFIT NFP 2022 2021 Δ% 2022 2021 Δ% 2022 2021 Δ% 30.06.22 31.12.21 Δ% 9M 529,9 419,3 26,4% 9M 73,2 59,6 22,9% 9M 26,1 14,3 83,3% 9M (231,5) (179,3) -29,1% % on Revenues 13,8% 14,2% % on Revenues 0,0 0,0 3Q 178,9 144,6 23,7% 3Q 21,7 20,2 7,2% 3Q 8,5 5,3 58,3%
Slide 7: Revenues – by Components
Revenues – by Components • Lower volumes of ca 8% compared to 9M2021 and 11% compared to 3Q21 – Volume: lower sales in EMEA – Price & sales mix: positive impact thanks to better mix and selling price adjustment. 7
Slide 8: Revenues – Quantity
Revenues – Quantity EMEA: volumes ca -20% vs 9M21 and -28% vs 3Q21: – BCF, NTF and Polymers: lower quantity due to slow market demand; USA: volumes ca +21% vs 9M21 and +22% in 3Q21: – BCF: higher quantity (+47%) due to increase of BCF fiber for contract and competitor withdrawal – NTF: lower quantit
Slide 9: Revenues – Breakdown by Product Line and Area
Revenues – Breakdown by Product Line and Area (1) Rest of World not included in Asia & Oceania 9
Slide 10: Revenues – ECONYL®
Revenues – ECONYL® • Strong growth +65% vs 9M22 due to price increase and higher quantities driven by: ‒ BCF fiber: higher demand in contract sector ‒ NTF: higher demand from fashion brands 46,2% 37.4% 53,8% 62.9% 10
Slide 11: Revenues – ECONYL® – BCF the support and NTF the accelerator
Revenues – ECONYL® – BCF the support and NTF the accelerator • ECONYL® has represented an accelerator driver for the Group growth both by strengthening relationship with consolidated customers and the attracting new ones ‒ BCF sector historically drove ECONYL® development due to cultural sensitivene
Slide 12: P&L – KPI
P&L – KPI 9M 3Q 2022 2021 ∆% 2022 2021 ∆% REVENUES 529,9 419,3 26,4% 178,9 144,6 23,7% EBITDA 73,2 59,6 22,9% 21,7 20,2 7,2% % on net sales 13,8% 14,2% 12,1% 14,0% EBIT 32,4 22,3 45,1% 7,9 8,3 -5,1% % on net sales 6,1% 5,3% 4,4% 5,7% EBT 33,0 18,0 83,6% 8,9 7,0 26,8% % on net sales 6,2% 4,3% 4,9% 4,
Slide 13: NFP – NPF/EBITDA
NFP – NPF/EBITDA • NFP on 30th September 2022 equal to 231,5 €/mil, higher of ca 29% compared to 31st December 2021 • Ratio NPF/EBITDA LTM at 2,70x 242 157 112 13
Slide 14: NFP – Increase of NWC mainly driven by inventory
NFP – Increase of NWC mainly driven by inventory • NWC growth driven by increase of inventory value due to ❖ higher unitary cost of raw material and ❖ increase of raw material quantities; 46,2% 37.4% 7 5 17 39 7 27 14
Slide 15: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 15
Slide 16: Outlook
Outlook As a result of the different global political and macroeconomic contexts, it is appropriate to analyze the Group’s performance separately in the different geographical areas where it operates in order to provide a more comprehensively information on its performance. EMEA is showing the expec
Slide 17: Index Page
Index Page 1. KEY MESSAGES 4 2. FINANCIAL RESULTS 6 3. OUTLOOK 16 4. APPENDIX 18 17
Slide 18: Disclaimer
Appendix - Disclaimer This presentation and any material distributed in connection herewith (together, the “Presentation”) prepared by Aquafil S.p.A. (“Aquafil” or “Company”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of
Slide 19: Definitions
Appendix - Definitions “First choice revenues” are revenues generated by the sale of fibers and polymers, gross of any adjustments «FIRST CHOICE (for example, discounts and allowances), but excluding revenues generated by “non-first choice products”, REVENUES» revenues generated by Aquafil Engineeri
Slide 20: Sector Data – Caprolactam price evolution
Appendix - Sector Data – Caprolactam price evolution 20
Slide 21: Consolidate Income Statements
Appendix - Consolidate Income Statements CONSOLIDATED INCOME STATEMENT September of wich non- September of wich non- Third Quarter of wich non- Third Quarter of wich non- €/000 2022 current 2021 current 2022 current 2021 current Revenue 529.905 849 419.310 587 178.896 324 144.610 587 of which relate
Slide 22: Consolidate Income Statements – Revenues 9M
Appendix - Consolidate Income Statements – Revenues 9M 9M BCF (fiber for carpet) NTF (fiber for fabric) Polymers Total €/mil 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% % 22 % 21 EMEA 171,9 137,4 34,5 25,1 % 79,2 62,2 17,0 27,2 % 42,2 55,5 (13,3) (24,0)% 293,2 255,1 38,1 14,9 % 55,3
Slide 23: Consolidate Income Statements – Revenues 3Q
Appendix - Consolidate Income Statements – Revenues 3Q 3Q BCF (fiber for carpet) NTF (fiber for fabric) Polymers Total €/mil 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% 2022 2021 Δ Δ% % 22 % 21 EMEA 54,0 46,8 7,2 15,5 % 21,3 20,6 0,7 3,4 % 13,4 20,4 (7,0) (34,4)% 88,7 87,8 0,9 1,1 % 49,6 % 60,7 % N
Slide 24: Consolidate Income Statements – EBITDA & EBITDA Adj
Appendix - Consolidate Income Statements – EBITDA & EBITD Adj RECONCILIATION FROM NET PROFIT TO EBITDA €/000 September September Third Quarter Third Quarter 2022 2021 2022 2021 Net Profit (Including Portion Attr. to Minority ) 26.137 14.258 8.463 5.346 Income Taxes 6.846 3.710 389 1.632 Investment i
Slide 25: Consolidate Balance Sheet (1)
Appendix - Consolidate Balance Sheet(1) CONSOLIDATED BALANCE SHEET At September 30, At December 31, €/000 2022 2021 Intangible Assets 22.458 23.551 Goodwill 17.121 14.735 Tangible Assets 251.353 240.489 Financial Assets 765 710 of which related parties 318 318 Investments & Equity metod 1.018 1.018
Slide 26: Consolidate Balance Sheet (2)
Appendix - Consolidate Balance Sheet(2) CONSOLIDATED BALANCE SHEET At September 30, At December 31, €/000 2022 2021 Share Capital 49.722 49.722 Reserves 115.353 91.708 Group Net Profit for the year 26.136 10.670 Group Shareholders Equity 191.212 152.101 Net Equity attributable to minority interest 1
Slide 27: Net Financial Position
Appendix - Net Financial Position NET FINANCIAL DEBT At September 30, At December 31, €/000 2022 2021 A. Liquidity 136.634 152.656 B. Cash and cash equivalents C. Other current financial assets 4.544 860 D. Liquidity (A + B + C) 141.178 153.516 E. Current financial debt (including debt instruments b
Slide 28: Consolidated Cash Flow Statement (1)
Appendix - Consolidated Cash Flow Statement (1) CASH FLOW STATEMENT At September 30, At September 30, €/000 2022 2021 Operation Activities Net Profit (Including Portion Attr. to Minority ) 26.137 14.258 of which related parties -358 -141 Income Taxes 6.846 3.710 Income (loss) from Investments 70 0 o
Slide 29: Consolidated Cash Flow Statement (2)
Appendix - Consolidated Cash Flow Statement (2) CASH FLOW STATEMENT At September 30, At September 30, €/000 2022 2021 Investing activities Investment in Tangible Assets -24.566 -20.547 Disposal of Tangible Assets 406 291 Investment in Intangible Assets -3.213 -3.640 Disposal of Intangible Assets 22