Slide 1: Ercros Annual Results Year 2024
ERCROS ANNUAL RESULTS YEAR 2024 Barcelona, February 25, 2025 ERCROS - Documento público
Slide 2: Keys to the 2024 Financial Year (I)
KEYS TO THE 2024 FINANCIAL YEAR (I) CONTINUATION OF THE DOWNWARD CYCLICAL PHASE DUE TO THE PERSISTENCE OF WEAK EUROPEAN DEMAND AND HIGH ENERGY COSTS ADJUSTED EBITDA EUR 29 MILLION RESULTS FOR THE YEAR EUR -12 MILLION 2 ERCROS - Documento público
Slide 3: Keys to the 2024 Financial Year (II)
KEYS TO THE 2024 FINANCIAL YEAR (II) MARCH 5, 2024: BONDALTI TAKEOVER BID FOR 100% OF ERCROS' SHARES AT A PRICE OF €3.60 PER SHARE (adjusted to €3.505 per share after the dividend paid by Ercros on July 10). JUNE 28, 2024: ESSECO TAKEOVER BID FOR 100% OF ERCROS' SHARES AT A PRICE OF €3.84 PER SHARE
Slide 4: Tons Sold
TONS SOLD 4 ERCROS - Documento público
Slide 5: Sales
SALES 5 ERCROS - Documento público
Slide 6: Effects on Sales Variation
EFFECTS ON SALES VARIATION 6 ERCROS - Documento público
Slide 7: Quarterly Evolution of Contribution
QUARTERLY EVOLUTION OF CONTRIBUTION 7 ERCROS - Documento público
Slide 8: Effects on Variation in Contribution
EFFECTS ON VARIATION IN CONTRIBUTION 8 ERCROS - Documento público
Slide 9: Adjusted EBITDA Evolution
ADJUSTED EBITDA EVOLUTION 9 ERCROS - Documento público Adjusted ebitda: ebitda excluding atypical items.
Slide 10: Effects of Unit Contribution and Volume on the Reduction in Adjusted EBITDA
EFFECTS OF UNIT CONTRIBUTION AND VOLUME ON THE REDUCTION IN ADJUSTED EBITDA 10 ERCROS - Documento público
Slide 11: Profit and Loss Account
PROFIT AND LOSS ACCOUNT Thousands of euros 2024 2023 % Activities that continue Revenue 700,358 757,626 -7.6 Sale of finished products 643,426 707,214 -9.0 Service provision 23,989 18,080 32.7 Other income 26,177 31,143 -15.9 Reversal of provisions and other non-recurring income 5,378 1,189 ×4.5* In
Slide 12: Economic Analysis of the Balance Sheet
ECONOMIC ANALYSIS OF THE BALANCE SHEET Thousands of euros 31-12-24 31-12-23 Variation % Non-current assets 403,800 419,152 -15,352 -3.7 Working capital 97,988 64,218 33,770 52,6 Current assets 207,994 169,527 38,467 22,7 Current liabilities -110,006 -105,309 -4,697 4,5 Resources used 501,788 483,370
Slide 13: Why Is Net Financial Debt Rising?
WHY IS NET FINANCIAL DEBT RISING? 13 ERCROS - Documento público
Slide 14: Detail of the Financial Debt
DETAIL OF THE FINANCIAL DEBT Thousands of euros 31-12-24 31-12-23 Variation % Loans 91,013 108,831 -17,818 -16.4 Lease creditors 13,982 9,260 4,722 51.0 Working capital financing 67,340 13,158 54,182 ×5.1* Gross financial debt 172,335 131,249 41,086 31.3 Treasury -36,729 -39,145 2,416 -6.2 Deposits
Slide 15: Liquidity
LIQUIDITY Thousands of euros 31-12-24 31-12-23 % Treasury 36,729 39,145 -6.2 Undrawn financing 73,410 109,487 -33.0 Total liquidity 110,139 148,632 -25.9 15 ERCROS - Documento público
Slide 16: Results by Business
RESULTS BY BUSINESS Thousands of euros 2024 2023 % Chlorine derivatives division Product sales 386,224 442,729 -12.8 Adjusted ebitda 12,452 33,873 -63.2 Adjusted ebitda /product sales (%) 3.2 7.7 -57.9 Intermediate chemicals division Product sales 194,558 197,392 -1.4 Adjusted ebitda 14,972 13,423 1
Slide 17: Differences Between Businesses
DIFFERENCES BETWEEN BUSINESSES Sales (millions of euros) Adjusted ebitda (millions of euros) 800 -12.8% -1.4% -6.6% -9.0% 60 -63.2% 11.5% 48.2% -39.6% 707 700 643 48 50 600 40 500 443 34 386 29 400 30 300 20 197 195 13 15 200 12 67 10 100 63 0,8 1,2 0 0 Chlorine Intermediate Pharmaceuticals Ercros C
Slide 18: Differences Between Businesses
DIFFERENCES BETWEEN BUSINESSES Adjusted ebitda margin* 12,0 8,0 7.7% 7.7% 6.8% 6.8% 4.4% 4,0 3.2% 1.9% 1.2% 0,0 Chlorine derivatives Intermediate Pharmaceuticals Ercros chemicals * Adjusted ebitda/sales. 18 2022 2023 ERCROS - Documento público
Slide 19: Foreign Trade by Business
FOREIGN TRADE BY BUSINESS Sales in the export and domestic markets 100% 4% 80% 33% 46% 59% 60% 96% 40% 67% 54% 20% 41% 0% Chlorine derivatives Derivados Intermediate del cloro Química chemicals Pharmaceuticals intermedia Farmacia Ercros Ercros Foreing market Domestic market 19 ERCROS - Documento púb
Slide 20: Sales Structure
SALES STRUCTURE Sales by destination Sales by currency Rest of the world 9% Other* 0.6% Rest of Dollars 20.4% OECD 16% Spain 46% Rest of the UE Euros * Pound sterling and yen. 29% 79% 20 ERCROS - Documento público
Slide 21: 3D Plan Investments
3D PLAN INVESTMENTS The 3D Plan includes 20 projects that, over the period 2021-2029, will represent a cumulative investment of 92 million euros and an additional cumulative ebitda of 194 million euros. The Plan's investments are being carried out according to the scheduled timeline. As of today, th
Slide 22: 3D Plan Investments
3D PLAN INVESTMENTS Digitalization (continued) ▪ The following projects are at an advanced stage: Big Data and IoT (Internet of Things); the introduction of improvements in production plant control through artificial intelligence (AI); the use of mobile devices in maintenance and logistics; infrastr
Slide 23: 2025 Forecast
2025 FORECAST ▪ The consensus among specialized publications delays the start of the European chemical sector's recovery to the second half of 2025. ▪ In this environment of high uncertainty, weak demand, high energy costs, and strong international competition, it cannot be ruled out that Ercros' ma
Slide 24: For more information: Ercros
For more information: Ercros Av. Diagonal, 593-595 08014 Barcelona Tel.: 934 393 009 609 880 630 E-mail: ercros@ercros.es www.ercros.es ERCROS - Documento público