Gr. Sarantis S.a. · ATHEX:SAR
Gr. Sarantis — Sarantis Group — Investor Presentation (April 2025)
36 slides from Gr. Sarantis's investor presentation, April 2025
Slide 1: Sarantis Group Investors Presentation
Sarantis Group Investors Presentation April 2025
Slide 2: Forward-looking statement
Forward-looking statement This document contains certain “forward-looking” statements. These statements may generally, but not always, be identified by the use of words such as “outlook”, “forecast”, “objective”, “expect”, “plan”, “intend”, “anticipate”, “believe”, “target”, “will”, “aim” and other
Slide 3: With you today
With you today Giannis Bouras Christos Varsos Group Chief Executive Officer Group Chief Financial Officer 3 Sarantis Group Investors Presentation
Slide 4: Operational and Business Update
Operational and Business Update Continuing our sustainable growth momentum Giannis Bouras, Group Chief Executive Officer
Slide 5: A long history of 60 years
A long history of 60 years 2015 Milestone acquisitions: 1964 Establishment of 1994 New production facilities Polipak, Ergopack, Stella GR. SARANTIS S.A. 2000 in Athens 2024 Pack Expansion in Eastern Investments in Europe infrastructure New exclusive strategic agreements Intense Acquisition Listed on
Slide 6: We care for the future the same way we care about the present
We care for the future the same way we care about the present OUR COMPETITIVE ADVANTAGE OUR SCOPE ▪ We design for the CEE region with deep local consumer understanding ▪ CEE and selected international markets on beauty ▪ We are the revitalisers of local “jewel” brands ▪ Home Care solutions ▪ We inve
Slide 7: Consistent organic growth with acquisitions coming on top
Consistent organic growth with acquisitions coming on top Sarantis Group Growth Drivers Beauty & Skin Personal Home Care Strategic Care Care Solutions Partnerships Disproportionate Core Profit Significant growth driver Market leverage growth Generator Complementary acquisitions on top in key priorit
Slide 8: Simplification and efficiency – progress
Simplification and efficiency – progress Main projects on track – First milestones achieved ▪ New SAP implementation: Go-live of first wave successfully completed for Greece Czech Slovakia Hungary Accelerating digital ▪ Second wave to follow in 2026 for West Balkans, Romania, Bulgaria transformation
Slide 9: Committing to Science-Based Targets initiative (SBTi)-aligned targets
Committing to Science-Based Targets initiative (SBTi)-aligned targets We align our strong financial performance with measurable sustainability initiatives that drive business value 2023 2026 2027 2030 2050 we commit to setting a we commit to Net-zero mid-term CO2 scope 3 carbon footprint across the
Slide 10: Well-placed for Sustainable Growth
Well-placed for 10 Sustainable Growth Net Sales €740m Net Sales €660m 2X EBITDA to €120m Net Sales €600.1m Net Sales €482.2m EBITDA €81.6m EBITDA €100m 2X EBIT to 95€m Net Sales €445.1m EBITDA €61.6m EBIT €61.0m EBIT 77€m EBITDA €45.5m √ from 2023 EBIT €47.1m EBIT €32.2m 2022 2023 2024 2026 2028 www
Slide 11: Accelerating momentum across our categories
Accelerating momentum across our categories CONTRIBUTION FY 2024 VOLUME (units) NET SALES TO TOTAL SALES Beauty, Skin € 59.8m & Sun Care + 10.4% + 24.1% 10.0% Personal € 116.5m Care + 14.2% + 13.4% 19.4% Home Care € 212.0m Solutions + 38.5% + 29.2% 35.3% € 59.8m Private Label + 71.9% + 94.7% 10.0% S
Slide 12: Winning across our geographies
Winning across our geographies CONTRIBUTION FY 2024 NET SALES TO TOTAL SALES € 170.6m Greece + 9.3% 28.4% € 184.1m Poland 30.7% + 66.8% € 98.9m Romania + 25.0% 16.5% Czech & € 45.8m Slovakia + 11.5% 7.6% € 40.4m West Balkans + 7.8% 6.7% € 25.0m Ukraine -0.9% 4.2% € 21.9m Bulgaria 3.7% + 10.9% € 13.2
Slide 13: Enhancing our international expansion footprint
Enhancing our international expansion footprint Growth Drivers for Exports 2024 Exports Beauty, Skin & Suncare to selected international markets Net Sales €19.3m +11.9% y-o-y EBIT €5.0m +41.5% y-o-y EBIT% 26.1% +545bps y-o-y 13 Sarantis Group Investors Presentation
Slide 14: Financial Performance
Financial Performance Strong execution in 2024 marks key milestone in the growth journey Christos Varsos, Group Chief Financial Officer
Slide 15: Focused execution drives continued growth
Focused execution drives continued growth 2024 Revenue Growth 2024 Gross Profit € 600.1m € 226.2m + 24.4% + 24.1% GP margin 37.7% -11bps 2024 EBITDA 2024 EBIT € 81.6m € 61.0m 2024 Organic Revenue Growth 2024 Organic EBITDA + 32.5% (excluding Stella Pack) (excluding Stella Pack) + 29.6% EBITDA margin
Slide 16: Strong performance drives profitability
Strong performance drives profitability Consolidated Statement of Comprehensive income Amounts In €m FY 2024 FY 2023 Δ (unless otherwise stated) Net Sales 600.1 482.2 24.4% Gross Profit 226.2 182.3 24.1% Gross Profit margin 37.7% 37.8% - 11bps EBITDA 81.6 61.6 32.5% EBITDA margin 13.6% 12.8% + 82bps
Slide 17: All our product categories delivering strong growth
All our product categories delivering strong growth FY 2024 figures NET SALES EBIT EBIT % y-o-y y-o-y y-o-y Beauty, Skin € 59.8m € 8.9m 14.9% & Sun Care + 24.1% + 65.5% + 373bps Personal € 116.5m € 17.9m 15.4% Care + 13.4% + 36.0% + 257bps Home Care € 212.0m €24.4m 11.5% Solutions + 29.2% + 9.2% - 2
Slide 18: Strong growth across our geographies
Strong growth across our geographies FY 2024 figures NET SALES EBIT EBIT% y-o-y y-o-y y-o-y NET SALES EBIT EBIT% y-o-y y-o-y y-o-y € 170.6m € 21.7m 12.7% Greece € 170.6m € 21.7m 12.7% + 9.3% + 31.0% + 210bps Greece + 9.3% + 31.0% + 210bps € 184.1m € 10.6m 5.7% Poland Domestic market € 151.3m € 16.7m
Slide 19: Stella Pack: generated strong synergies in 2024
Stella Pack: generated strong synergies in 2024 1st phase of 2025 complete €15m investments in Acquisition completed integration completed supply chain regranulation to support in January 2024 the full portfolio in 2024 optimization FY 2024 (€m) Net Sales 74.5 EBITDA 10.9 EBITDA margin 14.7% EBIT 7.
Slide 20: Strong balance sheet
Strong balance sheet ▪ Balance sheet provides firepower & flexibility to ▪ invest organically ▪ support the transformation of the Group ▪ Stella Pack’s acquisition funded by ▪ fuel M&A activity existing cash ▪ Stable financial position with net debt of €8.5m as ▪ Committed loan facilities as a war-c
Slide 21: Enhancing shareholders value
Enhancing shareholders value Board’s proposal to AGM for 2024 dividend payment €20.0m (+33.3% to PY) €0.299174 per share Dividend payout ratio 43.5% (vs 38.2% in the PY) EPS €0.7125 Share buy-back per share program (+ 20.8%) in place 21 Sarantis Group Investors Presentation
Slide 22: 2025 Outlook building momentum in results delivery
2025 Outlook building momentum in results delivery 2025 Net Sales €628.0m + 4.7% vs 2024 in line with 5-year plan for 2025 2025 EBITDA 2025 EBIT growth €92.0m €70.0m + 12.7% vs 2024 + 14.8% vs 2024 +1.9% vs 5-year plan for 2025 +3.6% vs 5-year plan for 2025 Margins expansion EBITDA% 14.6% for 2025 +
Slide 23: Why Sarantis has a strong Investment Case
Why Sarantis has a strong Investment Case ▪ Sustainable organic growth engine 01 ▪ Leading presence in all geographies ▪ Strong brand portfolio in the right categories ▪ Strong supply chain footprint with continuous investment plan 2X EBITDA in 5 years from 2023 ▪ 02 ▪ Consistent dividend ~ 38% payo
Slide 24: Appendix
Appendix
Slide 25: Delivering Strong Shareholder Value
Delivering Strong Shareholder Value 5-Year Plan* *as communicated during the Investor Day in March 2024
Slide 26: Disproportional growth on Beauty & Skin care
Disproportional growth on Beauty & Skin care CAGR Net Sales (€m) 2023 2024* 2025 2026 2027 2028 2023-2028 Own brands 349.6 454.3 481.7 509.0 537.7 568.7 10.2% Beauty & Skin Care 48.2 57.2 70.0 77.7 87.1 99.7 15.7% Personal Care 102.8 108.1 112.7 120.1 127.8 134.9 5.6% Home Care 198.7 288.9 299.1 311
Slide 27: Doubling the EBITDA Organically in the next 5 years
Doubling the EBITDA Organically in the next 5 years (€m) 2023 2024* 2025 2026 2027 2028 Net Sales 482.2 595.2 627.9 662.5 698.9 737.4 %YoY 23.5% 5.5% 5.5% 5.5% 5.5% Gross Margin 182.0 225.1 239.3 254.5 270.6 287.6 % on NS 37.8% 37.8% 38.1% 38.4% 38.7% 39.0% A&P 28.6 33.9 37.2 40.6 41.5 42.4 % on NS
Slide 28: Investing for our future - Capex
Investing for our future - Capex Capex 2024 2025 2026 2027 2028 Oinofyta DC* € 7.0m € 18.0m Digital* € 5.0m € 4.0m € 3.0m transformation Stella € 3.0m € 6.0m € 5.0m € 2.0m € 2.0m Rest of Group € 5.0m € 5.0m € 4.0m € 6.0m € 6.0m Total € 20.0m € 33.0m € 12.0m € 8.0m € 8.0m €81.0 million investment pla
Slide 29: A business with Strong Free Cash Flow generation
A business with Strong Free Cash Flow generation € million 2023 2024 2025 2026 2027 2028 EBITDA 61.6 80.2 90.3 100.5 110.3 120.2 Tax 9.6 10.2 11.5 13.3 14.9 16.5 Working capital change (7.2) 14.1 0.8 (0.6) 0.4 2.2 Capex 7.3 20.0 33.0 12.0 8.0 8.0 Estee Lauder Sale Receivable 20.6 20.6 FCF 51.9 35.9
Slide 30: Raising Corporate Governance Standards
Raising Corporate Governance Standards New Board of Directors * Executive Directors Long-term incentive scheme established: ✓ 4 Executive Directors * Kyriakos Sarantis, Chairman of the ✓ Running in three-year performance cycles with targets EBITDA ✓ 6 Non-Executive Directors Board margin, Operating
Slide 31: Our brands
Our brands Beauty, Skin & Sun Care Personal Care
Slide 32: Our brands – Home Care Solutions
Our brands – Home Care Solutions
Slide 33: Strategic Partnerships – Mass Distribution
Strategic Partnerships – Mass Distribution
Slide 34: Strategic Partnerships – Selective Distribution
Strategic Partnerships – Selective Distribution
Slide 35: Recent Acquisitions
Recent Acquisitions 2014 2015 2015 2018 2018 2020 2024 Before Acquisition Before Acquisition Before Acquisition Before Acquisition Before Acquisition Before Acquisition Before Acquisition ✓ Cosmetics brand ✓ Hand-dishwashing ✓ Production of PL ✓ Cosmetics brand ✓ Leading player in the ✓ Cosmetics br
Slide 36: Q&A
Q&A For further information on Sarantis Group please visit our website at https://sarantisgroup.com/ or contact our Investor Relations team: Eleni Moustakidou Investor Relations Manager emoustakidou@sarantisgroup.com +30 210 6173065