Viscofan, S.a. · BME:VIS
Viscofan — Q1 2021 Earnings Presentation
11 slides from Viscofan's earnings presentation, Apr 23, 2021
Slide 1: January-March 2021
January-March 2021 23 April 2021 January – March 2021 results 1
Slide 2: Growth in the main financial figures
Growth in the main financial figures Like-for-like1 € million 1Q21 1Q20 % y-o-y % y-o-y Revenue 228.4 222.1 +2.8% +10.3% EBITDA 57.6 52.0 +10.8% +27.8% EBITDA margin 25.2% 23.4% +1.8 p.p. +3.7 p.p. Operating profit 39.4 33.3 +18.3% Profit before taxes 40.2 36.0 +11.7% Taxes -10.1 -8.7 +15.9% Net pro
Slide 3: Higher volumes and better price/mix offset forex weakness
Higher volumes and better price/mix offset forex weakness Revenue 1Q21 Growth contribution (€ million and p.p.) +23.3MN -0.4MN -16.6MN 228.4 222.1 +2.8% 1Q21 vs. 1Q20 +10.5 p.p. -0.2 p.p. -7.5 p.p. € Like-for-like 1 Like-for-like 1 Forex casings co-generation 1Q20 1Q21 1 Like-for-like: For comparati
Slide 4: Like-for-like growth in all reporting areas
Like-for-like growth in all reporting areas Revenue 1Q21 Breakdown by geographical area1 (€ million) €228.4 Mn 54.4% 30.5% 15.1% VISCOFAN GROUP EUROPE AND NORTH SOUTH ASIA PACIFIC AMERICA AMERICA + 2.8% + 10.3 % + 4.7% +6.3 % - 1.6% +6.9 % + 5.3% +31.9 % vs. 1Q20 Like-for-like2 vs. 1Q20 Like-for-lik
Slide 5: Quarterly casings revenue maintains the upward trend
Quarterly casings revenue maintains the upward trend Viscofan Group revenue 2020 2021 Casings sales 2020 2021 (€ million) 231.6 240.3 218.6 215.7 216.3 211.7 228.4 224.9 224.9 222.1 +3.2% vs. 1Q20 1Q 2Q 3Q 4Q + 2.8% Co-generation revenue 2020 2021 vs. 1Q20 10.4 9.8 9.2 8.7 1Q 2Q 3Q 4Q 8.5 - 5.9% 1T1
Slide 6: Revenue growth, high capacity utilization, and efficiencies drive up our operating leverage
Revenue growth, high capacity utilization, and efficiencies drive up our operating leverage P&L 1Q21 Year-on-year change +27.8% +18.3% +10.3% +10.8% +4.6% +2.8% +2.1% -2.4% -4.7% Revenue Revenue Cost of Personnel Other operating EBITDA EBITDA D&A EBIT like-for-like1 consumption2 costs costs like-for
Slide 7: EBITDA growth in Q1 in reported and like-for-like terms
EBITDA growth in Q1 in reported and like-for-like terms EBITDA 1Q21 EBITDA margin 1Q21 Growth contribution (€ million and p.p.) +14.4MN -8.8MN +1.8p.p. +3.7p.p. vs. 1Q20 Like-for-like 1 57.6 52.0 27.1% +10.8% 25.2% 23.4% 1Q21 vs. 1Q20 +27.8 p.p. -17.0 p.p. € Like-for-like 1 Forex 1Q20 1Q21 1Q20 1Q21
Slide 8: Sound cash generation allows us to keep on strengthening the balance sheet
Sound cash generation allows us to keep on strengthening the balance sheet Net bank debt1 Capex 1Q21 (€ million) (€ million) Fibrous capacity increase in Cáseda -51.7% vs. Dec 20 2 comparable Collagen technology 70 improvement in North America 0.1x Net bank debt/ EBITDA Guidance for 2021 38.2 Collag
Slide 9: To wrap-up
To wrap-up • Volume growth and better price/mix offset forex weakness • Production efficiencies and cost control lead to margin expansion • Growth in the main financial figures of the first quarter profit and loss account. • Higher cash generation translates into a more solid balance sheet while inv
Slide 10: Appendix. Alternative Performance Measures
Appendix. Alternative Performance Measures The Alternative Performance Measures included in this report are as follows: • The EBITDA, or operating profit before depreciation and • Net bank debt: This is calculated as non-current borrowings amortisation, is calculated excluding depreciation and plus
Slide 11: Appendix. Disclaimer
Appendix. Disclaimer This document may include statements This circumstance must be taken into account about intentions, expectations or forecasts mainly for all persons or entities that may have to of the Company additional to the take decision, develop or spread opinions relative mandatory financi