Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q3 2015 Earnings Presentation
14 slides from Frigoglass S.a.i.c's earnings presentation, Nov 10, 2015
Slide 1: Results Presentation
Results Presentation 2015 third quarter and nine months Nikos Mamoulis │Chief Executive Officer Dimosthenis Bouras │Group Finance Director November 10, 2015
Slide 2: Third quarter highlights
Third quarter highlights Coca-Cola bottlers up 39%; ICOOL & ILOOK 27% sales growth; soft comps in Africa Weak market conditions in Russia EBITDA margin improvement on OpEx savings, despite adverse sales mix Completion of Glass transaction by year-end Third quarter 2015 results 2 November 1
Slide 3: Continued robust growth with Coca-Cola customers
Continued robust growth with Coca-Cola customers Quarterly sales evolution (in €m) +41% 64 +40% 46 +39% 40 40 29 29 1Q14 1Q15 2Q14 2Q15 3Q14 3Q15 Third quarter 2015 results 3 November 10, 2015
Slide 4: Sales growth to Coca-Cola bottlers in all territories
Sales growth to Coca-Cola bottlers in all territories Sales Regions Growth* Drivers/Market East Europe • Poland • +20% • Romania Russia West Europe • France +7% • UK Africa • S. Africa +60% • Nigeria Asia • Vietnam +67% • China *3Q15 y-o-y sales growth Third quarter 2015 results 4 November 10, 2015
Slide 5: Solid growth in Africa; cycling weak 3Q14
Solid growth in Africa; cycling weak 3Q14 3Q Cool sales by region (in €m) +103% 24 -12% +2% 15 13 14 14 +40% 12 12 8 +5% 3 4 3Q14 3Q15 3Q14 3Q15 3Q14 3Q15 3Q14 3Q15 3Q14 3Q15 East West North Asia Africa & ME Europe Europe America Third quarter 2015 results 5 November 10, 2015
Slide 6: Financial review
Financial review Third quarter 2015 results 6 November 10, 2015
Slide 7: Financial performance overview
Financial performance overview (in €m) 3Q15 3Q14 Change, % 9M15 9M14 Change, % Continuing Operations Sales 66.1 52.2 26.5% 263.7 253.3 4.1% EBITDA 0.2 -1.6 n.m. 20.3 20.7 -2.2% EBITDA Margin, % 0.3% -3.1% 3.4pp 7.7% 8.2% -0.5pp Adj. Net Profit -16.9 -10.9 n.m. -21.0 -14.7 n.m. Net Profit from Discon
Slide 8: Coca-Cola & Breweries up; All other customers down y-o-y
Coca-Cola & Breweries up; All other customers down y-o-y 3Q Cool sales by customer group (in €m) +39% 40 29 +37% -9% 14 13 11 12 1Q14 1Q15 2Q14 2Q15 3Q14 3Q15 Coca-Cola Breweries All Other Bottlers 9M15* +40% -3% -40% Third quarter 2015 results *y-o-y sales growth 8 November 10, 2015
Slide 9: Opex containment in 3Q on ongoing efficiency measures
Opex containment in 3Q on ongoing efficiency measures (in €m) 3Q15 3Q14 Change, % Sales (€ m) 66.1 52.2 26.5% Gross Profit 9.5 8.5 11.7% Gross Profit Margin, % 14.3% 16.2% -1.9pp Operating Expenses 9.4 10.4 -10.3% OPEX as % of sales 14.2% 20.0% -5.8pp (in €m) 9M15 9M14 Change, % Sales (€ m) 263.7 25
Slide 10: Working capital improvements on lower inventories
Working capital improvements on lower inventories Inventory (in €m) Working Capital (in €m) 110 107 75 71 9M14 9M15 9M14 9M15 Capex (in €m) Net Debt (in €m) 301 271 7 7 All figures refer to Continuing Operations (Cool Operations) 9M14 9M15 9M14 9M15 Third quarter 2015 results 10 November 10, 2015
Slide 11: Business Outlook
Business Outlook Third quarter 2015 results 11 November 10, 2015
Slide 12: Business outlook
Business outlook Short term focus Weak Q4 top-line trends Cost containment Conclude Glass disposal by year-end Long-term profitable growth Market share gains – New product platform & EvoCool – Integrated Service roll-out Africa’s growth & product innovations Cost competitiveness in Asia
Slide 13: Q&A
Q&A 13
Slide 14: For further information on Frigoglass, please visit our website
For further information on Frigoglass, please visit our website at: www.frigoglass.com or contact: John Stamatakos Investor Relations Manager jstamatakos@frigoglass.com +30 210 61 65 767 Disclaimer This presentation contains forward-looking statements which are based on current expectations and assu