Gr. Sarantis S.a. · ATHEX:SAR
Gr. Sarantis — Sarantis Group — FY2023 Earnings Presentation
17 slides from Gr. Sarantis's earnings presentation, Mar 12, 2024
Slide 1: Sarantis Group FY 2023 Financial Results
Slide 2: Forward-looking statement
Forward-looking statement This document contains certain “forward-looking” statements. These statements are based on management’s current expectations and are naturally subject to uncertainty and changes in circumstances, which could affect materially the expected results, because current expectatio
Slide 3: With you today
With you today Giannis Bouras Christos Varsos Deputy CEO Group Chief Financial Officer 3 Sarantis Group Full Year 2023 Financial Results
Slide 4: 2023 Highlights
2023 Highlights Setting the base for sustainable organic growth Giannis Bouras, Deputy CEO
Slide 5: Consistent organic growth with highest ever Net Sales
Consistent organic growth with highest ever Net Sales Organic revenue growth EBITDA EBIT EBT € 482.2m € 61.6m € 47.1m € 48.6m + 8.3% + 35.3% + 45.9% + 53.2% Margins Healthy Balance Sheet Enhancing shareholder’s Value GP 37.8% +370bps Proposed Dividend €15.0m EBITDA 12.8% +254bps Net Cash €43.6m EBIT
Slide 6: Well-placed for future growth
Well-placed for future growth CONTRIBUTION VOLUME (units) NET SALES TO TOTAL SALES Beauty, Skin +32.0% & Sun Care +25.0% € 48.2m 10.0% Personal +17.2% Care +4.2% € 102.8m 21.3% Home Care +4.7% Solutions -2.6% € 164.1m 34.0% Private -6.9% 6.4% Label -5.4% € 30.7m Strategic +4.6% Partnerships -5.8%* €
Slide 7: Strong growth across all geographies
Strong growth across all geographies CONTRIBUTION NET SALES TO TOTAL SALES € 156.0m Greece + 3.7% 32.4% Poland € 110.4m 22.9% + 2.9% € 79.1m Romania + 14.7% 16.4% Czech & € 41.1m Slovakia + 25.2% 8.5% € 37.5m West Balkans + 11.1% 7.8% € 25.3m Ukraine + 12.3% 5.2% € 19.7m Bulgaria 4.1% + 19.2% € 13.0
Slide 8: Simplification and efficiency – projects on track
Simplification and efficiency – projects on track Already brought results Release value and energy in the organisation ▪ Portfolio Optimisation (-40% of SKUs) ▪ Stock management – cash release ▪ New Polipak plan in full operation ▪ Innovation - Fewer and bigger initiatives ▪ More value through Reven
Slide 9: Stella Pack S.A. completion of acquisition
Stella Pack S.A. completion of acquisition ▪ A leading Polish consumer household products player, with strong brands ▪ 25 years of successful presence in the home care solutions categories ▪ Four production facilities enhancing the production footprint of the Group ▪ Reinforcement of Sarantis Group'
Slide 10: Financial Performance
Financial Performance Delivering strong performance Christos Varsos, Group Chief Financial Officer
Slide 11: 2023 Highlights
2023 Highlights Financial Performance FY 2023 - exceeding the Group’s latest outlook ▪ Record high Net Sales of €482.2m (+8.3% vs 2022) ▪ EBITDA of €61.6m (+35.3% vs 2022), with EBITDA margin 12.8% (+254bps vs 2022) ▪ EBIT of €47.1m (+45.9% vs 2022 ), with EBIT margin at 9.8% (+251bps vs 2022), ▪ Im
Slide 12: Margin improvement led by price and mix, offsetting cost pressures
Margin improvement led by price and mix, offsetting cost pressures Consolidated Statement of Comprehensive income Amounts In € m. (unless otherwise stated) FY 2023 FY 2022 Δ% Net Sales 482.2 445.1 8.3% Gross Profit 182.3 151.8 20.1% Gross Profit margin 37.8% 34.1% EBITDA 61.6 45.5 35.3% EBITDA margi
Slide 13: Balanced performance across our BUs
Balanced performance across our 8 BUs NET SALES EBIT EBIT% y-o-y y-o-y y-o-y € 156.0m* € 16.6m* 10.6%* Greece + 174bps + 3.7% + 24.0% Poland € 110.4m € 6.2m 5.6% + 2.9% + 88.2% + 256bps € 79.1m € 11.7m 14.8% Romania + 444bps + 14.7% + 63.8% Czech & € 41.1m € 4.9m 11.9% Slovakia + 25.2% + 52.8% + 216
Slide 14: Solid performance across our categories
Solid performance across our categories NET SALES EBIT EBIT % y-o-y y-o-y y-o-y Beauty, Skin € 48.2m* € 5.4m* 11.2%* & Sun Care + 32.0% + 14.0% - 177bps Personal € 102.8m € 13.2m 12.8% Care + 17.2% + 54.9% + 312bps Home Care €164.1m €22.4m 13.6% Solutions + 4.7% + 87.4% + 602bps € 30.7m -€ 0.3m -0.8
Slide 15: Healthy balance sheet
Healthy balance sheet ▪ Balance sheet provides firepower & flexibility ▪ Stella acquisition funded by existing cash to (concluded January 2024) ▪ invest organically ▪ support the transformation of the Group ▪ Secured facilities of c. €34m committed as ▪ fuel M&A activity a war-chest for further acqu
Slide 16: Enhancing shareholders value
Enhancing shareholders value EPS 0.59 Board’s proposal to AGM for 2023 per share dividend payment of (+ 50.3%) €15.0m (+50% to PY) €0.224381 per share Share buy back program Dividend payout in place ratio 38.2% 16 Sarantis Sarantis GroupGroup Full Year 2023 Half 2023 Financial Results year Results
Slide 17: 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