Tecnoglass Inc. · NYSE:TGLS
Tecnoglass — Q1 2025 Earnings Presentation
22 slides from Tecnoglass's earnings presentation, May 8, 2025
Slide 1: First Quarter 2025 Earnings Conference Call
First Quarter 2025 Earnings Conference Call May 8, 2025 – TECNOGLASS INC. (NYSE: TGLS) www.tecnoglass.com
Slide 2: Disclaimer
Disclaimer FORWARD LOOKING STATEMENTS This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are bas
Slide 3: Highlights
300 Third Avenue Waltham, Massachusetts l Highlights www.tecnoglass.com
Slide 4: Q1 2025 Key Takeaways
Q1 2025 Key Takeaways • Revenues up 15.4% YoY to Q1 record of $222.3 mm, driven by strong performance in our main Revenues by Geography Q1’25 markets, continued market share gains through expanding presence in new geographies, and increased traction in the vinyl business 4% • Single-family residenti
Slide 5: U.S. Growth Driving Resilient Multi-family/Commercial Backlog
U.S. Growth Driving Resilient Multi-family/Commercial Backlog Backlog Overview Backlog as of Q1’25 by End Market • Backlog expanded 24.9% YoY to a record $1.14 bn, supported by our strong execution track record on high-profile projects and ability to gain Multifamily / market share, which continues
Slide 6: Demonstrated History of Converting Backlog to Revenue
Demonstrated History of Converting Backlog to Revenue Backlog to Revenue Conversion $ 1,250 130% 114% $ 1,150 106% 108% 104% 110% 111% 107% 110% 106% 102% 100% $ 1,050 98% 95% 97% 95% 92% 90% 93% 91% 90% $ 950 87% 86% 88% 88% 89% 89% 90% 75% 82% 70% $ millions $ 850 69% 73% 72% 71% 73% 69% 61% 70% 6
Slide 7: Single-Family Residential Business Expanding
Single-Family Residential Business Expanding Strong Presence in High-Demand U.S. Markets Product Innovation to Propel Effective Expansion Florida Texas East Coast California & Arizona Operational Showrooms Expected 2025 Openings Core Presence Today Developing Presence Mixed Energy Efficiency & Impac
Slide 8: Financial Update
l Aston Martin Miami, Florida l Financial Update www.tecnoglass.com
Slide 9: Revenue Bridge 2025 vs. 2024
Revenue Bridge 2025 vs. 2024 Q1 2025 Revenue Bridge (US$M) • Entirely organic revenue growth of 15.4% YoY to $222.3 mm in Q1’25 driven by market share gains in single family and multi-family / commercial revenues, as a result of robust demand for our best-in-class product offerings, coupled with abi
Slide 10: Adjusted EBITDA Bridge 2025 vs. 2024
Adjusted EBITDA(1) Bridge 2025 vs. 2024 Adjusted EBITDA margin Q1 2025 Adjusted EBITDA Bridge (US$M) 26.5% 31.6% • Gross margin increased 510 bps YoY to 43.9% primarily due stronger retail pricing and a higher vertical integration, a favorable mix with higher SF residential revenues, operating lever
Slide 11: U.S. Aluminum Tariff Dynamics & Mitigation
U.S. Aluminum Tariff Dynamics & Mitigation Tariff Update Mitigation Actions in Place Recent U.S. tariffs on aluminum imports ▪ Pricing adjustments in certain product lines within the single-family residential segment went into effect May 1st apply to certain TGLS products, to help mitigate tariff im
Slide 12: Strong Cash Flow & Balance Sheet
Strong Cash Flow & Balance Sheet • Strong cash conversion of Adj. EBITDA(1) driving $46.9 mm of cash Strong Cash Flow Generation ($ in Millions) flow from operations in Q1’25 200.0 184.0 180.0 170.5 160.0 141.9 • Strong free cash flow of $28.8 mm and expected to continue through 140.0 138.8 87.8 117
Slide 13: Track Record of Strong Returns Above Peers
Track Record of Strong Returns Above Peers 3 Year Average ROE 3 Year Average ROIC 26% 39% 17% 9% TGLS U.S. Building Products Peers 1 TGLS U.S. Building Products Peers 1 Stronger profitability and significant improvement in working capital driving strong returns Notes: 1. U.S. Building Products Peers
Slide 14: Outlook Update
205 Race Street Philadelphia, Pennsylvania l OUTLOOK UPDATE www.tecnoglass.com
Slide 15: 2025 Outlook
2025 Outlook Full Year 2025 Outlook Assumptions • Non-material impact to construction industry from aluminum or reciprocal tariffs; Mostly offset via favorable pricing High End • Continued downtrend in interest rates driving mortgage rates lower • Favorable FX with the Peso at $4,200 or weaker; Hedg
Slide 16: Appendix
3Eleven 601 Hudson Yards New York City, New York l APPENDIX www.tecnoglass.com
Slide 17: Vertically-Integrated & Well-Situated Operations Create Structural Advantages
Vertically-Integrated & Well-Situated Operations Create Structural Advantages Supplier JV & Long Term Sales, Raw Production Final s Suppliers Supply Distribution Materials Process Product Relationships & Installation Tecnoglass integration across the architectural glass and window value chain provid
Slide 18: ESG Strategy
ESG Strategy Outstanding Achievements Environmental Social Governance Enhancing Our Environment Promoting Continuous, Ethical and Responsible Leading Eco-Efficiency and Innovation Growth National Carbon Neutrality Employee Training and Ethics and Compliance Program Education Programs Program +15,000
Slide 19: ESG Strategy
ESG Strategy Our Sustainability Strategy contains the Company’s guidelines and value propositions to meet the expectations of our stakeholders Environmental Social Governance Enhancing Our Environment Promoting Continuous, Ethical and Responsible Leading Eco-Efficiency and Innovation Growth Encourag
Slide 20: Leading Eco-efficiency and Innovation
Leading Eco-efficiency and Innovation Over 85% of Tecnoglass’ total revenues are considered Green Revenues, including low emissivity and impact-resistant glass and windows, contributing to reducing global emissions and mitigating climate change effects 68% 65% 84% of our revenues are of our revenues
Slide 21: Non-GAAP Reconciliation
Non-GAAP Reconciliation1 Adjusted EBITDA and adjusted net (loss) income attributable to parent reconciliation Three months ended Twelve months ended Figures in U.S. $k Mar 31, Mar 31, 2025 2024 2025 2024 Net (loss) income 42,189 29,730 173,768 164,868 Less: Income (loss) attributable to non-controll
Slide 22: Non-GAAP Reconciliation
Non-GAAP Reconciliation1 Net Debt, Leverage and Total Investment Reconciliations Figures in U.S. $k As of Mar 31, 2024 2025 Short Term Debt and Current Portion of Long Term Debt 3,338 627 Long Term Debt 157,568 108,410 Gross Debt 157,905 109,036 Cash at the end of the period 135,881 157,302 Net Debt