Aquafil Spa · MIL:ECNL
Aquafil Spa — Mid & Small in Milan (December 2021)
71 slides from Aquafil Spa's conference presentation, Dec 2, 2021
Slide 1: Presentation to Investors - Mid & Small in Milan
Aquafil Group PRESENTATION TO INVESTORS Mid & Small in Milan Milan, 2nd December 2021
Slide 2: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 50 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 56 5. ANNEXES 59 2
Slide 3: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 3
Slide 4: Aquafil at glance
Aquafil at glance • A global Group with proximity to clients ‒ 19 plants in 3 continents and 8 countries ‒ 9M 2020, above 2.600 employees, € 419m of revenues and € 60m of EBITDA • Market leader in nylon for fiber for carpet flooring (BCF products), fabrics (NTF products) and polymers for EP and mold
Slide 5: Aquafil at glance – A global Group with proximity to clients
Aquafil at glance – A global Group with proximity to clients USA EUROPE ASIA PACIFIC Cartersville – Georgia ITALY CHINA Aquafil USA 1 & 2 Arco, Cares and Rovereto Jiaxing Aquafil Headquarter Aquafil Jiaxing Phoenix - Arizona Tessilquattro Aquafil Carpet Recycling ACR#1 JAPAN Aquafil Carpet Collectio
Slide 6: Aquafil at glance – Product lines
Aquafil at glance – Product lines KEY APPLICATIONS % on 9M2021 REVENUES Fiber for carpet flooring 64,1% BCF Product Fiber for fabric 21,3% NTF Product Industrial Molding Polymers EP Product 14,6% 6
Slide 7: Aquafil at glance – Business model
Aquafil at glance – Business model Raw Final Production Distribution Clients Material application BCF Flooring Solutions Selected Manufacturers Application Users Production and finishing of premium synthetic yarns, Contract principally Nylon 6, for Direct sale / Standard Caprolactam flooring solutio
Slide 8: Aquafil at glance – 50 years of growth – Key milestones
Aquafil at glance – 50 years of growth – Key milestones 1965 1988 1995 1999 2007 2010 Aquafil foundation Establishment of Acquisition of Establishment of Establishment of Establishment of Aquafil Engineering AquafilSLO Aquafil USA Aquafil Asia Pacific Aquafil China in Germany in Thailand 2011 2017 2
Slide 9: Fortune's 2019 Change the World List: Companies to Watch
Aquafil at glance – A Company to change the world MAGAZINE CHANGE THE WORLD Fortune’s 2019 Change the World List: Companies to Watch By Matthew Heimer and Erika Fry 19 August 2019 “Burberry and Prada both recently launched collections featuring ECONYL®, a recycled nylon that this Italian yarn manufa
Slide 10: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 10
Slide 11: Sustainability path – Driven by vision and business model
Sustainability path – Driven by vision and business model • Journey to circularity started with a deep business model review to prepare Group to next decades evolution based on cultural sensitiveness to environmental topics and Group R&D and technological strengths • Aquafil correctly identified fut
Slide 12: Sustainability path – Driven by vision and business model
Sustainability path – Driven by vision and business model 12
Slide 13: Sustainability path – A journey started in 1990
Sustainability path – A journey started in 1990 1990 1998 2007 2008 2011 2013 «Lactamic waters» Waste recovery The Eco Pledge® «Energy & ECONYL® «The Healthy Seas – A recovery from for techno polymers foundation Recycling» team: Regeneration System: journey from Waste to polymerization production de
Slide 14: Sustainability path – A journey started in 1990
Sustainability path – A journey started in 1990 • The milestones 2007 2011 2019-20 14
Slide 15: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 15
Slide 16: The ECO PLEDGE®
The ECO PLEDGE® RETHINKING PRODUCTS IN A CIRCULAR PERSPECTIVE SUPPORT LOCAL Innovating products to make them more COMMUNITIES and more circular, giving new life to waste materials, in an infinite cycle. Grow in harmony with local communities, promoting a prosperous and respectful development of thei
Slide 17: The ECO PLEDGE®
The ECO PLEDGE® SUSTAINABILITY PILLARS IMPROVEMENT AREAS TOPICS • Creation of new sustainable value chains • Creation of a new recycled products/ RE THINKING PRODUCTS IN A materials (PP, copper) CIRCULAR PERSPECTIVE • Research other sustainable value chains • Bio bases nylon • Investment in energy f
Slide 18: The ECO PLEDGE® – SDGs and GRI alignment
The ECO PLEDGE® – SDGs and GRI alignment SUSTAINABILITY PILLARS SUPPORTED SDGS SUPPORTED GRI RE THINKING PRODUCTS IN A Until now no GRI related CIRCULAR PERSPECTIVE to new material development PROTECTING THE ENVIRONMENT 302-1:2016 | 303-3:2018 303-4:2016 | 307-1:2016 ATTENTION TO THE WELL-BEING OF T
Slide 19: The ECO PLEDGE® – Re-thinking products
The ECO PLEDGE® – Re-thinking products • Eco-Design aim is to create products which “will come back” because are conceived and built to become future resources and not wastes • Collaboration on the entire value chain is the crucial successful driver TARKETT NAPAPIJRI CORAL EYEWEAR Closing the loop i
Slide 20: The ECO PLEDGE® – Protecting the environment
The ECO PLEDGE® – Protecting the environment • Aquafil is committed to respect the environment in every phase of its own production process 302-1:2016 | 303-3:2018 303- 4:2018 | 305-1:2016 305-2:2016 | • Therefore, activities and to reduce impacts and recover energy 306-3:2020 are constant among yea
Slide 21: The ECO PLEDGE® – Supply chain share responsibility
The ECO PLEDGE® – Supply chain share responsibility • Aquafil establish solid relationships with its customers and suppliers, based on the commitment and desire to improve together, 307-1:2016 | 308-1:2016 413- 1:2016 | 414-1:2016 leveraging on constant comparison and collaboration • Some example of
Slide 22: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 22
Slide 23: ECONYL®
ECONYL® • ECONYL® regenerated nylon is 100% recycled yarn made of plastic waste such as fishing nets, industrial scraps and used carpets • 37% of Aquafil fiber turnover in 2020 23
Slide 24: ECONYL® – Steps
ECONYL® – Steps • Step 1: rescue ‒ The ECONYL® Regeneration System starts with rescuing waste, like fishing nets, fabric scraps, carpet flooring and industrial plastic from all over the world ‒ That waste is then sorted and cleaned to recover all of the nylon possible • Step 2: regenerate ‒ Through
Slide 25: ECONYL® – A consistent growth
ECONYL® – A consistent growth 10.0% ECONYL® and “OTHER FIBRES” • 2015-2019: consistent historical growth delivery GROWTH RATE (1) 7.5% – average increase was more than 2x total fibres growth – % on net sales increased from 32.5% to 37.5% 5.0% 6.4% 2.5% • 2020 decreased related to COVID impact in BCF
Slide 26: ECONYL® – A consistent growth
ECONYL® – A consistent growth • Partner sharing same “circularity” vision were attracted by ECONYL® value proposition 26
Slide 27: ECONYL® – A consistent growth – Drivers
ECONYL® – A consistent growth – Drivers • Fundamental drivers of these results were – R&D activities – Industrial capacity increase – Creation of nylon waste reverse logistic platform ‒ Innovative marketing activities 27
Slide 28: ECONYL® – A consistent growth – R&D activities
ECONYL® – A consistent growth – R&D activities • Usual R&D activities shown us new opportunities in Group production process Recovery of the lactamic water 1990 Recovery of internal PA6 discard 1998 1998 Pre-consumer discard 2007 Post-consumer discard 2011 As reported in the EPD of the ECONYL(R) pol
Slide 29: ECONYL® – A consistent growth – Industrial capacity increase
ECONYL® – A consistent growth – Industrial capacity increase • Circularity is one of the milestones of Group CAPEX process – Support development and environmental KPI targets achievements • The capability to increase ECONYL® capacity, especially in Ljubljana, allowed to consistently follow demand gr
Slide 30: ECONYL® – Nylon waste reverse logistic platform
ECONYL® – A consistent growth – Nylon waste reverse logistic platform • Group was able to built a nylon “reverse” supply chain to collect raw materials for ECONYL® to create a stable and competitive quantity of nylon waste to be supplied to the regeneration plant in Slovenia – Pre consumer waste – C
Slide 31: ECONYL® – Innovating marketing activities
ECONYL® – A consistent growth – Innovating marketing activities • Aquafil products are ingredients incorporated into final client products and therefore are not visible to end consumer • Since its launch, ECONYL® ingredient proved to be the perfect fit for a different marketing strategy: a strong in
Slide 32: ECONYL® – Innovating marketing activities
ECONYL® – A consistent growth – Innovating marketing activities • “Traditional” marketing strategies ‒ B2B strategy: building marketing towards chain next link through a narrow and single-sided customer- supplier relationship – Multilevel Ingredient strategy (“pull strategy”): product demand is crea
Slide 33: ECONYL® – Innovating marketing activities
ECONYL® – A consistent growth – Innovating marketing activities • ECONYL® branding strategies ‒ Targeted only on the final brand, this approach surpasses limitations and dangers of a too narrow and single-sided customer-supplier relationship ‒ Selling process is based on partnerships and direct comm
Slide 34: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 34
Slide 35: 2021 Outlook – 2021 Group confirms expectation
2021 Outlook – 2021 Group confirms expectation • The economic growth outlook in the first nine months of the year has shown that the benefits of containment and control measures and vaccination campaigns are effective tools for combating the Covid-19 pandemic. The maintenance, if not expansion, of s
Slide 36: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 36
Slide 37: 3Q2021 Main Results
3Q2021 Main Results REVENUES EBITDA NET PROFIT NFP 2021 2020 Δ% 2021 2020 Δ% 2021 2020 Δ% 31.12.20 30.09.21 Δ% 3Q YTD 419,3 327,9 27,9% 3Q YTD 59,6 40,1 48,7% 3Q YTD 14,3 (2,9) - 3Q YTD (218,7) (183,6) 19,1% % on Revenues 14,2% 12,2% % on Revenues 3,4% -0,9% 3Q 144,6 105,2 37,5% 3Q 20,2 13,2 53,3% 3
Slide 38: Revenues – by Components
Revenues – by Components • 3Q2021: volumes increase of ca 8% compared to 3Q19 – Volume: ca +18% compared to 3Q20 – Price & sales mix: positive impact thanks to selling price adjustment to raw material price variation • 3QYTD2021: volumes increase of ca 4% compared to 3QYTD19 – Volume: ca +25% compar
Slide 39: Revenues – Components – Quantity (EMEA)
Revenues – Components – Quantity EMEA: volumes ca +34% vs 3QYTD20 and +37% vs 3Q20 and +7% vs 3QYTD19 and +16% vs 3Q19 – BCF: recovery consolidation of “residential” and “automotive” market; – NTF: ECONYL® branded products continues to grow; – Polymers: best in class of growth in the region, with ou
Slide 40: Revenues – Components – Quantity (USA)
Revenues – Components – Quantity USA: volumes ca +7% vs 3QYTD20 and +4% vs 3Q20 and -1% vs 3QYTD19 and -2% vs 3Q19 – BCF: in 3Q higher recovery of year thanks to “automotive” market; – NTF: consolidates the growth 40 In BCF, especially in first part of 2019, Group benefitted from the withdrawal by a
Slide 41: Revenues – Components – Quantity (Asia Pacific)
Revenues – Components – Quantity ASIA PACIFIC: volumes ca +21% vs 3QYTD20 and -17% vs 3Q20 and +3% vs 3QYTD19 and -9% vs 3Q19 – BCF: in 3Q YTD good performance of “residential”, with a slow down in the 3Q due to the lock down measures in Oceania. 41 In BCF, especially in first part of 2019, Group be
Slide 42: Revenues – Breakdown by Product Line and Area
Revenues – Breakdown by Product Line and Area (1) O’Mara Incorporated consolidated since 31st May 2019 (2) Rest of World not included 42
Slide 43: Revenues – ECONYL®
Revenues – ECONYL® • Back to normality after the pandemic impact on ECONYL® demand in 2020 ‒ between 1Q and 2Q20 in BCF “contract” customers-built warehouse stocks to face possible production breakdown due to COVID restrictive measures. • NTF trend again better than BCF ‒ BCF demand still influenced
Slide 44: EBITDA – Strong recovery driven by volumes
EBITDA – Strong recovery driven by volumes • € 59,6 m in 3Q21YTD compared to € 40,1 m of 3Q20YTD and € 54,9 m of 3Q19YTD – Strong impact of volumes increase; – Consolidation of 2019 savings plan and – some of COVID-19 actions. • During 3Q21 impact of higher utility costs. 44
Slide 45: P&L – KPI
P&L – KPI 3Q 3QYTD 2021 2020 ∆% 2021 2020 ∆% REVENUES 144,6 105,2 37,5% 419,3 327,9 27,9% EBITDA 20,2 13,2 53,3% 59,6 40,1 48,7% % on net sales 14,0% 12,5% 14,2% 12,2% EBIT 8,3 0,2 - 22,3 0,2 - % on net sales 5,7% 0,2% 5,3% 0,0% EBT 7,0 (1,4) - 18,0 (3,0) - % on net sales 4,8% -1,3% 4,3% -0,9% NET R
Slide 46: NFP – NPF/EBITDA LTM at 2.36x
NFP – NPF/EBITDA LTM at 2.36x • NFP on 30th September 2021 equal to 183,6 €/mil, improved by 19,1% compared to December 2020 • Ratio NPF/EBITDA LTM at 2,36x 242 157 112 46
Slide 47: NFP – Focus on NWC and CAPEX
NFP – Focus on NWC and CAPEX • CAPEX equal to € 23,9m mainly related to the capacity and technological improvements including partially EP investments. • The focus on NWC allowed cash generation despite impact on both turnover growth and raw material price increase 46,2% 37.4% 7 5 17 39 7 27 (1) Net
Slide 48: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 48
Slide 49: Projects updating – Bio based nylon project
Projects updating – Bio based nylon project • A pillar of Group “The ECO PLEDGE®” and one of the most relevant initiatives in which the Group takes part – 2 complementary and synergic paths: Genomatica and project EFFECTIVE • Genomatica – Joint technological development to produce the first ever bio
Slide 50: Projects updating – Bio based nylon project
Projects updating – Bio based nylon project • Project EFFECTIVE – Extending Aquafil-Genomatica initiative to the whole supply chain by validating bio-based polyamides and bio-based polyesters from renewable raw materials into large-consumer products o Polymers’ versatility allows application in a wi
Slide 51: Group development – Development in Japan
Group development – Development in Japan • In February important development steps were taken to expand Group presence in Japan – At BCF product line level: establishment of Aquafil Japan Co., Ltd., based in Tokyo, 100% owned by Aquafil S.p.A.: the subsidiary will transform and market polymers and s
Slide 52: Group development – Development in Japan
Group development – Development in Japan ‒ More recent trends o Strong cultural sensitiveness to environmental and sustainability topics ▪ extremely positive recognition for ECONYL® o Some signs of primary competitors withdrawal • Group is focusing its activities to built relationship with important
Slide 53: Group development – Acquisition of ca 32% in NOFIR
Group development – Acquisition of ca 32% in NOFIR ‒ Nofir: based in Bodø, Norway, is a leading European player in the collection and processing of fishing and aquaculture nets at the end of their life cycles. Since 2011, Nofir has collected over 48,000 tons of nets in 20 countries on five continent
Slide 54: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 49 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 55 5. ANNEXES 59 54
Slide 55: Ownership Structure & Governance – Ownership Structure
Ownership Structure & Governance – Ownership Structure • A capital structure with 3 type of Shares ‒ Ordinary Share ‒ Share B: dedicated to Giulio Bonazzi family with the same economic right of ordinary share but with 3 voting right for any share ‒ Share C: no transferable, no economic and voting ri
Slide 56: Ownership Structure & Governance – Ownership Structure
Ownership Structure & Governance – Ownership Structure • Main Aquafil’s shareholders is Aquafin Holding S.p.A., holding of Giulio Bonazzi Family ‒ Managers are involved too 56
Slide 57: Ownership Structure & Governance – Governance
Ownership Structure & Governance – Governance BOARD OF DIRECTORS Giulio Bonazzi Chairman and CEO Stefano Loro Adriano Vivaldi Executive Director Executive Director Silvana Bonazzi Franco Rossi Director Director Margherita Zambon Ilaria Maria Dalla Riva Independent Director(1) (6) Independent Directo
Slide 58: Index Page
Index Page 1. AQUAFIL AT GLANCE 4 2. SUSTAINABILITY PATH 11 2.1. The ECO PLEDGE® 16 2.2. ECONYL® 23 3. 2021 OUTLOOK & 1Q2021 RESULTS 35 3.1. 2021 OULOOK 35 3.2. 1Q2021 RESULTS 37 5. PROJECTS UPDATE 50 4. CORPORATE GOVERNANCE AND OWNERSHIP STRUCTURE 56 5. ANNEXES 59 58
Slide 59: Disclaimer
Disclaimer This presentation and any material distributed in connection herewith (together, the “Presentation”) prepared by Aquafil S.p.A. (“Aquafil” or “Company”) do not constitute or form a part of, and should not be construed as, an offer for sale or subscription of or solicitation of any offer t
Slide 60: Definitions
Definitions “First choice revenues” are revenues generated by the sale of fibers and polymers, gross of any adjustments «FIRST CHOICE (for example, discounts and allowances), but excluding revenues generated by “non-first choice products”, REVENUES» revenues generated by Aquafil Engineering GmbH and
Slide 61: Appendix - Sector Data – Caprolactam price evolution
Appendix - Sector Data – Caprolactam price evolution 61
Slide 62: Appendix - Consolidate Income Statements
Appendix - Consolidate Income Statements CONSOLIDATED INCOME STATEMENT September of wich non- September of wich non- Third Quarter of wich non- Third Quarter of wich non- €/000 2021 current 2020 current 2021 current 2020 current Revenue 419.310 587 327.930 287 144.610 587 105.197 120 of which relate
Slide 63: Appendix - Consolidate Income Statements – Revenues 3QYTD
Appendix - Consolidate Income Statements – Revenues 3QYTD 3QYTD BCF (fiber for carpet) NTF (fiber for fabric) Polymers Total €/mil 2021 2020 Δ Δ% 2021 2020 Δ Δ% 2021 2020 Δ Δ% 2021 2020 Δ Δ% % 21 % 20 EMEA 137,4 115,8 21,6 18,7 % 62,2 51,3 10,9 21,2 % 55,5 19,6 35,9 182,6 % 255,1 186,7 68,4 36,6 % 6
Slide 64: Appendix - Consolidate Income Statements – Revenues 3Q
Appendix - Consolidate Income Statements – Revenues 3Q 3Q BCF (fiber for carpet) NTF (fiber for fabric) Polymers Total €/mil 2021 2020 Δ Δ% 2021 2020 Δ Δ% 2021 2020 Δ Δ% 2021 2020 Δ Δ% % 21 % 20 EMEA 46,8 33,3 13,4 40,3 % 20,6 14,0 6,7 47,7 % 20,4 6,2 14,2 231,1 % 87,8 53,5 34,3 64,2 % 60,7 % 50,8 %
Slide 65: Appendix - Consolidate Income Statements – EBITDA & EBITD Adj
Appendix - Consolidate Income Statements – EBITDA & EBITD Adj RECONCILIATION FROM NET PROFIT TO EBITDA September September Third Quarter Third Quarter €/000 2021 2020 2021 2020 Net Profit (Including Portion Attr. to Minority ) 14.258 (2.899) 5.346 (964) Income Taxes 3.710 (68) 1.632 (439) Amortisati
Slide 66: Appendix - Consolidate Balance Sheet(1)
Appendix - Consolidate Balance Sheet(1) CONSOLIDATED BALANCE SHEET At September 30, At December 31, €/000 2021 2020 Intangible Assets 23.484 23.578 Goodwill 14.413 13.600 Tangible Assets 229.993 229.495 Financial Assets 663 650 of which related parties 312 313 Other Assets 1.586 1.336 Deferred Tax A
Slide 67: Appendix - Consolidate Balance Sheet(2)
Appendix - Consolidate Balance Sheet(2) CONSOLIDATED BALANCE SHEET At September 30, At December 31, €/000 2021 2020 Total Assets 659.196 679.698 Share Capital 49.722 49.722 Reserves 88.680 76.579 Group Net Profit for the year 14.258 595 Group Shareholders Equity 152.660 126.897 Net Equity attributab
Slide 68: Appendix - Net Financial Position
Appendix - Net Financial Position NET FINANCIAL DEBT At September 30, At December 31, €/000 2021 2020 A. Liquidity 163.680 208.954 B. Cash and cash equivalents 0 0 C. Other current financial assets 4.291 834 D. Liquidity (A + B + C) 167.971 209.787 E. Current financial debt (including debt instrumen
Slide 69: Appendix - Consolidated Cash Flow Statement (1)
Appendix - Consolidated Cash Flow Statement (1) CASH FLOW STATEMENT At September 30, At September 30, €/000 2021 2020 Operation Activities Net Profit (Including Portion Attr. to Minority ) 14.258 (2.899) of which related parties (141) (468) Income Taxes 3.710 (68) Financial income (693) (353) Financ
Slide 70: Appendix - Consolidated Cash Flow Statement (2)
Appendix - Consolidated Cash Flow Statement (2) CASH FLOW STATEMENT At September 30, At September 30, €/000 2021 2020 Investing activities Investment in Tangible Assets (20.547) (18.398) Disposal of Tangible Assets 291 762 Investment in Intangible Assets (3.640) (4.019) Disposal of Intangible Assets
Slide 71: Investors Contact
Investors Contact: Karim Tonelli Investor Relations & Performance Management Director karim.tonelli@aquafil.com Mob: +39 348 60 22 950 71