Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q1 2022 Earnings Presentation
13 slides from Frigoglass S.a.i.c's earnings presentation, May 19, 2022
Slide 1: Results Presentation First-quarter 2022
Results Presentation First-quarter 2022 2019 19 May 2022
Slide 2: Forward Looking statements
Forward Looking statements This presentation contains 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 Fri
Slide 3: Operational Review
Operational Review Nikos Mamoulis, CEO 32
Slide 4: Sustained demand recovery in January and February
Sustained demand recovery in January and February Q1 2022 highlights ▪ Sales up 25% y-o-y, driven by both segments ▪ Commercial Refrigeration segment significantly impacted in March by disruptions from the Russia- Ukraine conflict ▪ Record sales level in Glass; +56% y-o-y ▪ EBITDA margin impacted by
Slide 5: Continued top-line recovery in Commercial Refrigeration
Continued top-line recovery in Commercial Refrigeration March’s sales impacted by order cancelations in Russia and delays in cooler deliveries in Europe East Europe: Solid growth Commercial Refrigeration Sales by Geography in January and February on fewer restrictions in the (in €m) on-trade and sof
Slide 6: Solid performance on strong volume growth and pricing
Solid performance on strong volume growth and pricing FX-neutral sales up by 51% y-o-y; Reported +56% y-o-y Glass containers: double- Glass Operations Sales digit sales growth, led by (in €m) volume and price 40 initiatives 35 1.2 34.4 4.0 30 25 7.1 22.1 Plastic Crates: Sales 20 growth momentum 15 m
Slide 7: Financial Review
Financial Review Financial Manos Review Metaxakis, CFO 32
Slide 8: Q1 2022 financial performance overview
Q1 2022 financial performance overview Commercial Refrigeration Operations Glass Operations (in €m) Q1 2022 Q1 2021 Chng, % (in €m) Q1 2022 Q1 2021 Chng, % Sales 85.1 73.8 15.2% Sales 34.4 22.1 55.9% EBITDA 1.8 7.6 -76.6% EBITDA 8.4 6.9 22.6% EBITDA margin, % 2.1% 10.2% -8.2pp EBITDA margin, % 24.5%
Slide 9: Group's financial performance overview
Group’s financial performance overview (in €m) Q1 2022 Q1 2021 Chng, % Sales 119.5 95.9 24.6% EBITDA 10.2 14.4 -29.4% EBITDA margin, % 8.5% 15.1% -6.5pp EBIT 5.7 9.9 -42.8% Net Profit -2.1 1.2 n.m. First-quarter Results May 2022 9
Slide 10: Lower EBITDA and Inventory build-up impacted FCF
Lower EBITDA and Inventory build-up impacted FCF Adjusted Free Cash Flow1 Adjusted Free Cash Flow1 (in €m) 5 -€27.2m; down €27.4m y-o-y 0.2 • Lower operating profitability 0 • Impacted by a net trade working capital 7.1 (25.2) (5) outflow (4.2) • Inventories build-up to secure raw (10) materials ava
Slide 11: Business Outlook
Business Outlook Financial Nikos Mamoulis, Review CEO 32
Slide 12: Business outlook
Business outlook ▪ Russia-Ukraine conflict related impact continuous in April and May – Lingering disruptions and material uncertainty going forward – Customer order cancellations in Russia ▪ Taking actions and developing contingency plans to limit disruptions ▪ Raw materials and transportation cost
Slide 13: Q&A
Q&A For further information on Frigoglass please visit our website at: www.frigoglass.com Or contact: John Stamatakos | Head of Treasury & Investor Relations jstamatakos@frigoglass.com +30 210 61 65 767 1