Elopak Asa · OSL:ELO
Elopak Asa — Elopak A S — Q2 2024 Earnings Presentation
22 slides from Elopak Asa's earnings presentation, Aug 15, 2024
Slide 1: Quarterly presentation Q2 2024
Quarterly presentation Q2 2024
Slide 2: Disclaimer
Disclaimer Certain statements included in this announcement contain forward -looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Elopak management concerning plans, objectives and strategies, such as planned expansio
Slide 3: Elopak at a glance
Elopak at a glance Russia Historical revenue development1 1 132 1 151 Group 1 024 940 910 909 906 909 856 872 85 The world’s largest player in fresh liquid carton 776 packaging 855 14 billion cartons produced in 2023 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 LTM Sales to 70+ markets 2,7
Slide 4: We're in the business of sustainable packaging
We’re in the business of Protecting essential commodities Enabling world nutrition sustainable Reducing plastics packaging 4
Slide 5: Business performance
Q2 2024 Business performance CEO Thomas Körmendi
Slide 6: Q2 2024 Business highlights
Q2 2024 Business highlights Revenue at 288 EURm Adjusted EBITDA of 44 EURm Highest dividend paid since IPO of Growth of 4% YoY Increase of 2 EURm YoY 34.4 EURm, corresponding to a Margin of 15.2% (14.9%) dividend yield of 4.0%* Inaugural 2.5 NOKb green bonds Pure-Pak® volume growth in Continued stro
Slide 7: Financial highlights: Q2 2024
Financial highlights: Q2 2024 Solid revenue growth and margin improvement Group revenues (EURm) Adjusted EBITDA (EURm) +3% 14.9% 15.2% 14.7% 15.5% 561 580 2023 +9% 2024 90 83 +4% 278 288 +5% 42 44 Q2 YTD Q2 YTD ▹ Q2 2024 organic* revenue growth of 11 EURm, 4% YoY ▹ Strong EBITDA growth in Q2 mainly
Slide 8: Business update: Europe, Middle East and Africa (EMEA)
Business update: Europe, Middle East and Africa (EMEA) Revenues (EURm) - EMEA Key comments +5% ▹ Quarterly revenue growth of 1%, organic* growth of 450 2% 2023 430 2024 ▹ Strong Pure-Pak® sales from new business and increased market share in central and northern Europe ▹ Strong volume growth in Indi
Slide 9: Business update: Americas
Business update: Americas Very strong revenue development from Pure-Pak® dairy and plant-based growth Revenues (EURm) - Americas Key comments +6% ▹ Quarterly revenue growth of 12%, organic* growth of 147 13% 138 2023 ▹ Pure-Pak® growth with existing customers in dairy 2024 and plant-based segment –
Slide 10: Sustainable value creation
Sustainable value creation Fresh opportunity in Aseptic growth Broaden geographic Plastic to carton Commercial North America roadmap footprint conversion excellence Expand our end-to-end, Leverage our historical Broaden our geographical Grow accessible Drive business sustainable Pure-Pak® know-how a
Slide 11: Popular Hungarian dairy brand relaunches in Pure-Pak cartons
Popular Hungarian dairy brand relaunches in Pure- Pak® cartons Tolnatej’s Tolle brand is one of the most popular fresh milk brands in Hungary The dairy produces over 260 million liters annually equivalent to 20% of the country's milk production Tolle’s fresh and flavored milk is now available in Pur
Slide 12: Germany's most sought-after milk brand chooses Pure-Pak cartons
Germany’s most sought-after milk brand chooses Pure-Pak® cartons for all fresh and mixed beverages With the new packaging solution, Hochwald’s ‘Bärenmarke’ achieves a significant reduction of plastics The Pure-Pak® cartons have a ten percent higher proportion of renewable raw materials which reduces
Slide 13: Lithuanian dairy Žemaitijos pienas swaps plastic bottles for cartons
Lithuanian dairy, Žemaitijos pienas swaps plastic bottles for cartons One of the best-known dairies in Lithuania has switched the packaging for fresh organic milk from plastic bottles to Pure-Pak® cartons The company has calculated the expected effect of the switch to a fiber- base packaging to be 8
Slide 14: Financial performance
Q2 2024 Financial performance CFO Bent Kilsund Axelsen
Slide 15: Adjusted EBITDA, Q2 2024
Adjusted EBITDA, Q2 2024 Continued margin accretive growth in both value chains Adjusted EBITDA (EURm) and adjusted EBITDA margin (%) Key comments EMEA EMEA Americas ▹ Pure-Pak® volume growth in northern and central Europe from new business and increased market share ▹ Favorable input cost developme
Slide 16: Adjusted EBITDA, Q2 2024: Margin improvement year-on-year
Adjusted EBITDA, Q2 2024 Margin improvement year-on-year Adjusted EBITDA and EBITDA margin % quarterly (EURm) 2,2 EURm +5% 1,7 0,1 2,3 1,4 1,3 43,8 15.2% 41,6 14.9% Q2 2023 Net revenue mix* Raw materials** Operations Other Currency*** Q2 2024 * Net revenue mix consists of the impact from volume and
Slide 17: Cash flow YTD 2024
Cash flow YTD 2024 Solid cash flow from operations partially reinvested in US production plant and distributed as dividends Cash flow from operations Cash flow to investments Cash flow from financing 15 -17 -4 -39 9 90 4 -34 -11 -7 18 13 0 Cash at Adj. Change in Taxes paid Other Purchase of Other Ne
Slide 18: Financial position YTD 2024
Financial position YTD 2024 Strong cash from operations reducing the impact from dividend pay-out and US plant investments Leverage ratio Key comments Net debt Leverage (mEUR) ratio ▹ Leverage ratio remain below mid-term 400 391 386 5.0 target at 1.9x 363 367 347 348 ▹ Net debt of 339 EURm, up 26 EU
Slide 19: Summary and outlook
Summary and outlook Positive momentum created in the first quarter maintained with strong performance across all markets The strong financial performance in the first half of 2024 reaffirms our higher run rates – which we expect to continue in the second half of the year 19
Slide 20: Capital markets day
Elopak welcomes you to Capital markets day September 4, 2024 Haakon VIIs gate 2, Oslo / digital 20
Slide 21: Financial calendar
Financial calendar Event Dates Capital September 4, 2024 markets day Q3 2024 October 30, 2024 Q4 2024 February 11, 2025 Q1 2025 May 7, 2025 Q2 2025 August 14, 2025 Q3 2025 October 28, 2025
Slide 22: Thank you!
Thank you! Visit us at Elopak.com