Slide 1: Second Quarter 2021 Earnings Conference Call
SECOND QUARTER 2021 EARNINGS CONFERENCE CALL August 6, 2021 – TECNOGLASS INC. (NASDAQ: TGLS)
Slide 2: Safe Harbor
Safe Harbor FORWARD LOOKING STATEMENTS This presentation includes certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding future financial performance, future growth and future acquisitions. These statements are ba
Slide 3: Summary & Highlights
One Thousand Museum Florida, United States SUMMARY & HIGHLIGHTS 3
Slide 4: Q2 2021 Key Takeaways
Q2 2021 Key Takeaways Sales By Geography Structural advantages drove record revenues, gross profit, operating income, net income, Adjusted EBITDA, and cash flow from operations 10% Total Revenues increased 48.5% to a record $121.7 mm led by strong U.S. Total Revenues US growth, up 38.8% to $109.
Slide 5: U.S. Growth Driving Resilient Backlog
U.S. Growth Driving Resilient Backlog Backlog Overview Backlog as of Q2’21 by End Market Multi Family / Residential Related Our track record of successfully delivering high profile 37% Commercial projects has earned us an increasing number of Backlog opportunities across the US, evidenced by our e
Slide 6: Continued Expansion Into U.S. SF Residential
Continued Expansion Into U.S. SF Residential Single family residential segment accounts for ~27% of U.S. Single Family Residential Mix LTM US revenues (37% in Q2), compared to 3% in 2017 FY 2017 LTM Q2’21 Residential housing growth in the US supported by record-low mortgage rates and a migration
Slide 7: Vertically-Integrated & Well-Situated Operations Driving Step-Change in Results
Vertically-Integrated & Well-Situated Operations Driving Step-Change in Results Suppliers JV & Long Term Sales, Raw Production Final Suppliers Supply Distribution Materials Process Product Relationships & Installation Tecnoglass integration across the architectural glass and window value chain provi
Slide 8: Financial Update
Park Grove Tower Florida, United States FINANCIAL UPDATE 8
Slide 9: Revenue Bridge Q2 2021 vs Q2 2020
Revenue Bridge Q2 2021 vs Q2 2020 Q2 2021 Revenue Bridge (US$M) Total revenues increased $39.8 mm or 49% in Q2'21, mainly due to higher sales in the US and a recovery in LatAm markets U.S. revenues of $109.9 mm, which represented 90% of total revenues, grew 38.8% or $30.7 mm compared to $79.1 mm
Slide 10: Adjusted EBITDA Bridge Q2 2021 vs Q2 2020
(1) Adjusted EBITDA Bridge Q2 2021 vs Q2 2020 Adjusted EBITDA margin Q2 2021 Adjusted EBITDA Bridge (US$M) 29.3% 28.4% Gross margin increased 120 bps to 40.0% attributable to a higher mix of revenue from manufactured products vs installation, operating leverage on higher sales SG&A as a percent of
Slide 11: Improved Balance Sheet & Leverage Profile
Improved Balance Sheet & Leverage Profile Weighted Average Interest Rate(2) ($ in Millions) 25.0 7.8% 7.7% 8.0% In October 2020, entered into new $300 mm credit 7.3% 7.4% 7.0% facility: $250 mm term loan plus $50 mm revolver 20.0 21.2 20.4 6.0% 19.7 15.0 18.7 5.0% Weighted average interest continu
Slide 12: Outlook Update
Residential Project, Florida, United States OUTLOOK UPDATE 12
Slide 13: Improved 2021E Growth Outlook
Improved 2021E Growth Outlook Revenue growth led by U.S. activity and continued Revenue 2021E penetration into the single family residential segment $450-$465 MM Adjusted EBITDA outlook incorporates gross margins in +20-24% YoY the high 30% range, mainly attributable to more favorable mix of man
Slide 14: Appendix
APPENDIX Echo Brickell Florida, United States 14
Slide 15: Non-GAAP Reconciliation
(1) Non-GAAP Reconciliation Adjusted EBITDA and adjusted net (loss) income attributable to parent reconciliation Figures in US $k Three months ended Six months ended Jun 30, Jun 30, 2021 2020 2021 2020 Net (loss) income 19.275 16.054 27.527 (2.614) Less: Income (loss) attributable to non-controlling
Slide 16: Non-GAAP Reconciliation
(1) Non-GAAP Reconciliation Net Debt, Leverage and Total Investment Reconciliations Figures in US $k As of June 30, 2020 2021 Short Term Debt and Current Portion of Long Term Debt 18.744 13.376 Long Term Debt 35.955 218.949 Corporate Bond 207.853 - Gross Debt 262.552 232.325 Cash at the end of the p