Turpaz Industries Ltd · TASE:TRPZ
Turpaz Industries — Q3 2023 Earnings Presentation
18 slides from Turpaz Industries's earnings presentation, November 2023
Slide 1: Investor Presentation
Investor Presentation November 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 14 Production 469 employees Multinational Acquisitions YTD 2023- Founded sites globally 61 in R&D (15 PhD) fragrance Aromatique Food in 2011 & flavor house Food Base Fragrance, Taste, Specialty Fine IPO on TASE in May 2021 Continuous growth via Ingredients (incl
Slide 4: Q3 2023 Highlights (US $)
Q3 2023 Highlights (US $) Record Sales Result Gross Profit Adj. EBITDA / Margin $ 32.5M $ 13.0M $ 7.6M / 23.3% + 7.0% +8.6% +8.5% (6.5%) Organic Record Cash Flow Positive Cash Balance Net Profit from Operations $ 19.3M $ 4.0M $ 6.4M 4
Slide 5: 9M 2023 Highlights (US $)
9M 2023 Highlights (US $) Record Sales Result Gross Profit Adj. EBITDA / Margin $ 94.0M $ 36.0M $ 20.2M / 21.5% + 6.8% Sales growth +�5.0% growth (0.5%) (4.0%) Organic Cash Flow Net Profit 2 Acquisition YTD 2023 from Operations • Aromatique Food $ 6.6M $ 9.5M • Food Base 5
Slide 6: Growth – Q3 2023
Growth – Q3 2023 Sales (M US $) Adj. EBITDA (M US $) CAGR Q3 2020 – Q3 2023 CAGR 32.5 7.0% Q3 2020 – Q3 2023 30.3 43.5% 43.0% 7.6 7.0 17.8 4.4 11.0 2.6 Q3-2020* Q3-2021 Q3-2022 Q3-2023 Q3-2020* Q3-2021 Q3-2022 Q3-2023 (*) based on the company's internal reporting (**)Adj. EBITDA - Adjusted to reflec
Slide 7: Growth – 9M 2023
Growth – 9M 2023 Sales (M US $) Adj. EBITDA (M US $) CAGR CAGR 9M YTD 2020 –9M YTD 2023 94.0 9M YTD 2020 – 9M YTD 2023 88.1 39.1% 6.8% 30.4% 20.3 20.2 57.3 14.2 34.9 9.1 9M-2020* 9M-2021 9M-2022 9M-2023 9M-2020* 9M-2021 9M-2022 9M-2023 (*) based on the company's internal reporting (**)Adj. EBITDA -
Slide 8: Sales Breakdown By Territory
Sales Breakdown By Territory In M US $ Europe Asia & ROW Q3 2023 – 15.9 Q3 2023 – 4.0 Q3 2022 – 12.7 Q3 2022 – 4.2 North America Q3 2023 – 4.1 Q3 2022 – 6.5 Israel and Middle East Q3 2023 – 8.4 Q3 2022 – 6.9 8
Slide 9: Q3 2023 Turpaz – Consolidated
Q3 2023 Turpaz – Consolidated In K US $ / % Q3 2022 Q3 2023 Sales 30,346 32,476 Gross Profit 11,950 12,981 39.4% 40.0% 4,992 5,211 Operating Profit 16.5% 16.0% 6,971 7,561 Adjusted EBITDA 23.0% 23.3% 9
Slide 10: Q3 2023 Fragrance
Q3 2023 Fragrance In K US $ / % Q3 2022 Q3 2023 +27.5% Sales 6,687 8,528 2,128 2.694 Operating Profit 31.8% 31.6% Organic +0.9% Highlights The increase in sales stems from organic growth and the acquisition of Klabin in Q4 2022. 10
Slide 11: Q3 2023 Taste
Q3 2023 Taste In K US $ / % Q3 2022 Q3 2023 +11.1% Sales 15,114 16,796 2,164 2,612 Operating profit 14.3% 15.6% Organic (6.3%) Acquisitions Food Base Focusing on customers/products with higher margins in SDA, Highlights contributed to an increase in profitability, alongside a decline in organic sale
Slide 12: Q3 2023 Specialty Fine Ingredients
Q3 2023 Specialty Fine Ingredients In K US $ / % Q3 2022 Q3 2023 (15.9%) Sales 8,545 7,190 Operating Profit 2,315 1,302 27.1% 18.1% Organic (13.8%) Highlights Sales mainly affected by the destocking trend, which is expected to end in 2023.
Slide 13: 9M 2023 Segments Performance
9M 2023 Segments Performance Net Sales Operating Profit In K US $ / % 9M 2022 9M 2023 9M 2022 9M 2023 6,064 6,387 Fragrance 19,753 24,635 30.7% 25.9% 6,564 6,887 Taste 44,534 48,603 14.7% 14.2% Specialty Fine 6,523 4,313 23,769 20,902 Ingredients 27.4% 20.6% 13
Slide 14: P&L
P&L K US $ 2022 Q3 2022 Q3 2023 9M 2022 9M 2023 Revenues 118,556 30,346 32,476 88,056 94,016 Gross Profit 47,659 11,950 12,981 34,314 36,015 Gross Profit % 40.2% 39.4% 40.0% 39.0% 38.3% R&D Expenses 3,607 827 1,231 2,329 3,528 Sales & Marketing Expenses 10,016 2,496 2,591 7,010 7,690 Management & Ge
Slide 15: Balance Sheet
Balance Sheet K US $ 31/12/2022 30/9/2022 30/9/2023 Assets Current Assets 89,913 92,944 77,916 Non-Current Assets 123,493 93,124 139,837 Total Assets 213,406 186,068 217,753 Liabilities & Equity Current Liabilities 46,674 35,140 41,205 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 Aromatique Food SDA 100% 65% + option Florasynth 49% 35% 100% Balirom 60% + option Food Base 40% 60% + option SDA FIT 40% 51% 60% + option 40% Pentaor 100% Global acquisitions pipeline WFF Pilpel & Galilee Herbs Klabin Fragrances 70% + option
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 UO) TURPAZ