Turpaz Industries Ltd · TASE:TRPZ
Turpaz Industries — Q2 2023 Earnings Presentation
18 slides from Turpaz Industries's earnings presentation, August 2023
Slide 1: Investor Presentation August 2023
Investor Presentation August 2023 1
Slide 2: Disclaimer
Disclaimer This presentation was prepared by Turpaz Industries Ltd. These forward-looking statements are included, inter alia, (the "Company") for the sole purpose of conveying information in discussions of strategy, objectives, goals, plans, events, future regarding the Company and its subsidiaries
Slide 3: Turpaz - A Leading Global F&F Company
Turpaz - A Leading Global F&F Company Founded Enhancement and 14 Production 485 employees Multinational expansion of global in 2011 fragrance sites globally 61 in R&D (15 PhD) management to support & flavor house global growth strategy IPO on TASE in May 2021 Fragrance, taste, specialty fine Trade o
Slide 4: H1 2023 Highlights (US $)
H1 2023 Highlights (US $) Sales Gross Profit Adjusted EBITDA $ 61.5M $ 23.0M $ 12.6M + 6.6% Sales growth + 3.0% growth (5.2%) (2.7%) Organic Sales were impacted Gross profit increased mainly The change in adjusted by continued customer due to the increase in sales. EBITDA stems mainly from destockin
Slide 5: Q2 2023 Highlights (US $)
Q2 2023 Highlights (US $) Sales Gross Profit Adjusted EBITDA $ 30.6M $ 11.2M $ 6.0M + 1.1% Sales growth (3.8%) (13.8%) (6.6%) Organic Sales were impacted by Profitability declined The change in adjusted continued customer primarily due to an organic EBITDA stems mainly from destocking, driven by sal
Slide 6: Growth – H1 2023
Growth – H1 2023 Sales (M US $) Adj. EBITDA (M US $) CAGR CAGR H1 2020 –H1 2023 61.5 H1 2020 – H1 2023 57.7 6.6% 39.8% 30.3% 39.4 13.3 12.6 9.9 22.5 5.7 H1 2020* H1 2021 H1 2022 H1 2023 H1 2020* H1 2021 H1 2022 H1 2023 (*) based on the company's internal reporting (**)Adj. EBITDA - earnings before i
Slide 7: Growth – Q2 2023
Growth – Q2 2023 Sales (M US $) Adj. EBITDA (M US $) CAGR CAGR Q2 2020 – Q2 2023 Q2 2020 – Q2 2023 30.3 30.6 41.9% 1.1% 30.5% 20.2 7.0 6.0 5.2 10.7 2.7 Q2 2020* Q2 2021 Q2 2022 Q2 2023 Q2 2020* Q2 2021 Q2 2022 Q2 2023 (*) based on the company's internal reporting (**)Adj. EBITDA - earnings before in
Slide 8: Sales Breakdown By Territory
Sales Breakdown By Territory In M US $ Europe Asia & ROW Q2 2023 – 14.3 Q2 2023 – 3.8 Q2 2022 – 13.8 Q2 2022 – 4.1 North America Q2 2023 – 4.4 Q2 2022 – 4.3 Israel and Middle East Q2 2023 – 8.0 Q2 2022 – 8.1 8
Slide 9: H1 2023 Segments Performance
H1 2023 Segments Performance Net Sales Operating Profit* In K US $ / % H1 2022 H1 2023 H1 2022 H1 2023 3,936 3,693 Fragrance 13,066 16,107 30.1% 22.9% 4,400 4,275 Taste 29,420 31,807 15.0% 13.4% Specialty Fine 4,208 3,011 15,224 13,712 Ingredients 27.6% 22.0% *Operating profit was impacted by organi
Slide 10: Q2 2023 Turpaz – Consolidated
Q2 2023 Turpaz – Consolidated In K US $ / % Q2 2022 Q2 2023 Sales 30,305 30,626 Gross Profit 11,660 11,215 38.5% 36.6% 4,954 3,680 Operating Profit 16.3% 12.0% 6,990 6,026 Adjusted EBITDA 23.1% 19.7% 10
Slide 11: Q2 2023 Fragrance
Q2 2023 Fragrance In K US $ / % Q2 2022 Q2 2023 +15.1% Sales 7,074 8,139 2,143 2,111 Operating profit 30.3% 25.9% Organic (5.6%) Acquisitions Klabin The increase in sales stems from the acquisition of Klabin in the fourth quarter of 2022. Highlights Organic decrease arises from an increase in orders
Slide 12: Q2 2023 Taste
Q2 2023 Taste In K US $ / % Q2 2022 Q2 2023 (3.5%) Sales 16,222 15,662 2,657 1,415 Operating profit 16.4% 9.0% Organic (9.4%) Acquisitions Aromatique Food Sales decrease is mainly attributed to SDA, as intensified market Highlights competition and entry of new players into the market prompted the co
Slide 13: Q2 2023 Specialty Fine Ingredients
Q2 2023 Specialty Fine Ingredients In K US $ / % Q2 2022 Q2 2023 (1.4%) Sales 7,009 6,911 2,010 1,675 Operating profit 28.7% 24.2% Organic 0.1% Highlights Sales mainly affected by customer destocking, and exchange rate impact. The change in profitability was driven by higher raw materials prices, co
Slide 14: P&L
P&L K US $ 2022 Q2 2022 Q2 2023 H1 2022 H1 2023 Revenues 118,556 30,305 30,626 57,710 61,540 Gross Profit 47,659 11,660 11,215 22,364 23,034 Gross Profit % 40.2% 38.5% 36.6% 38.8% 37.4% R&D Expenses 3,607 717 1,203 1,502 2,297 Sales & Marketing Expenses 10,016 2,171 2,573 4,514 5,099 Management & Ge
Slide 15: Balance Sheet
Balance Sheet K US $ 31/12/2022 30/6/2022 30/6/2023 Assets Current Assets 89,913 91,769 72,370 Non-Current Assets 124,267 95,954 132,232 Total Assets 214,180 187,723 204,602 Liabilities & Equity Current Liabilities 46,674 35,437 33,202 Turpaz’s strong equity structure, low leverage, cash flow from o
Slide 16: Proven Acquisitions Track Record
Proven Acquisitions Track Record 2020 2021 2022 2023 Lori 100% (Fragrance) Aromatique Food Florasynth SDA 65% (Taste) 100% (Taste) 49% (Taste) Balirom 60% + option Food Base 40% (Taste) 60% (Taste) SDA FIT 60% + option 51% (Taste) 40% (Taste) Pentaor Global acquisitions 100% (Taste) pipeline WFF Pil
Slide 17: Multinational Company
Multinational Company Belgium Poland Latvia Romania Hungary Taste Taste & Fragrance Taste Taste Sales Fragrance Sales Sales Sales Production Sales Production Production Production R&D Production R&D R&D R&D R&D USA Vietnam Fragrance & Taste & Fragrance Taste Sales Sales Production Production R&D R&D
Slide 18: Thank You
Thank You )TURPAZ