Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q2 2022 Earnings Presentation
13 slides from Frigoglass S.a.i.c's earnings presentation, Oct 3, 2022
Slide 1: Results Presentation Second-quarter 2022
Results Presentation Second-quarter 2022 2019 3 October 2022
Slide 2: Forward Looking statements
Forward Looking statements This presentation contains forward-looking statements which are based on current expectations and assumptions about future events. All statements other than statements of historical fact included in this presentation, including, without limitation, statements regarding Fri
Slide 3: Operational Review
Operational Review Nikos Mamoulis, CEO 32
Slide 4: Challenging market conditions
Challenging market conditions Q2 2022 highlights ▪ Sales up by 22% y-o-y, driven by both segments ▪ Commercial Refrigeration segment impacted by order cancellations in Russia and persistent logistic related constraints ▪ Excellent sales performance in Glass; +74% y-o-y ▪ Adj. EBITDA margin improveme
Slide 5: Significant disruptions in Commercial Refrigeration
Significant disruptions in Commercial Refrigeration Sales impacted by order cancellations in Russia and delays in cooler deliveries in Europe East Europe: Order Commercial Refrigeration Sales by Geography cancellations in Russia and Ukraine; Growth (in €m) 91.9 elsewhere in the region 84.5 11.0 19.8
Slide 6: Sustained growth momentum
Sustained growth momentum Reported sales up by 74% y-o-y; FX-neutral +57% Glass containers: strong Glass Operations Sales double-digit sales growth, (in €m) led by volume and price 40 36.9 initiatives 35 3.5 3.9 30 25 8.3 Plastic Crates: Double-digit 21.2 20 sales growth, driven by 15 price adjustme
Slide 7: Financial Review
Financial Review Financial Manos Review Metaxakis, CFO 32
Slide 8: Q2 2022 financial performance overview
Q2 2022 financial performance overview Commercial Refrigeration Operations Glass Operations (in €m) Q2 2022 Q2 2021 Chng, % (in €m) Q2 2022 Q2 2021 Chng, % Sales 91.9 84.5 8.8% Sales 36.9 21.2 73.7% Adj. EBITDA 15.3 9.7 56.8% Adj. EBITDA 9.3 5.2 78.1% Adj. EBITDA margin, % 16.6% 11.5% 5.1pp Adj. EBI
Slide 9: Group's financial performance overview
Group’s financial performance overview (in €m) Q2 2022 Q2 2021 Chng, % Sales 128.8 105.7 21.8% Adj. EBITDA 24.6 15.0 64.2% Adj. EBITDA margin, % 19.1% 14.1% 5.0pp EBIT 19.8 10.5 89.5% Net Profit 6.8 -12.2 n.m. (in €m) H1 2022 H1 2021 Chng, % Sales 248.2 201.6 23.1% Adj. EBITDA 34.8 29.4 18.2% Adj. E
Slide 10: Net Trade Working Capital outflow impacted FCF
Net Trade Working Capital outflow impacted FCF Adjusted Free Cash Flow1 Adjusted Free Cash Flow1 (in €m) 15 -€36.1m; down €41.5m y-o-y 5.4 10 5.4 • Impacted by a net trade working capital 5 outflow 0 7.1 (25.2) • Increased trade debtors following (5) good progress in Q2 (10) (19.0) • Increased stock
Slide 11: Business Outlook
Business Outlook Financial Nikos Mamoulis, Review CEO 32
Slide 12: Business outlook
Business outlook ▪ Expect weak demand in Russia in H2 2022 – Continued customer order cancellations – Challenges in supporting orders in Europe ▪ Pricing and strong execution of commercial strategy to limit disruptions ▪ Raw materials and transportation cost to continue to impact profitability and l
Slide 13: Q&A
Q&A For further information on Frigoglass please visit our website at: www.frigoglass.com Or contact: John Stamatakos | Head of Treasury & Investor Relations jstamatakos@frigoglass.com +30 210 61 65 767 1