Slide 1: 1Q 2023 Results
1Q 2023 Results Conference call – May 12, 2023
Slide 2: Important information
Important information This presentation is being shown to you solely for your information and may not be reproduced, distributed to any other person or published, in whole or in part, for any purpose. The information in this presentation could include forward-looking statements which are based on cu
Slide 3: 1Q 2023 - Financial highlights
1Q 2023 - Financial highlights €m Total Revenues EBITDA EBIT 1Q 2019 1Q 2022 1Q 2023 1Q 2019 1Q 2022 1Q 2023 1Q 2019 1Q 2022 1Q 2023 426.6 333.4 325.8 17.3 14.8 10.7 5.1 6.2 -2.5 - 1Q 2023 Total Revenues increase compared to 1Q 2022 that was still affected in the first part of the quarter by the eff
Slide 4: 1Q 2023 - Sales
1Q 2023 - Sales €m Total Sales* 420.0 329.3 321.7 253.9 Sales to Street Market and National Account in 1Q 189.4 192.2 2023 amount to 373.0€m (+39.1% on 1Q 2022) and include 2.4€m of sales contribution from the Frigor 83.4 75.9 119.1 Carni acquisition consolidated from 1 April 2022 56.5 53.6 47.0 1Q
Slide 5: 1Q 2023 - GM dynamics
1Q 2023 - GM dynamics €/kg Gross Margin trend - basis 100% on 2019 4Q 1Q - In a foodservice environment affected by a Street Market Total Street Market Total general food inflation, more severe since 2Q 123% 114% 117% 2022, the pass-through process of price increase, 106% 119% measured in terms of €
Slide 6: 1Q 2023 - Income statement
1Q 2023 - Income statement 1Q 2019 % €m 1Q 2022 % 1Q 2023 % 333.4 100.0% Total Revenues 325.8 100.0% 426.6 100.0% − Total revenues increase and GM improvement compared to 1Q 2022 are (266.9) -80.0% COG’s (263.7) -81.0% (344.3) -80.7% also affected respectively by food inflation (39.2) -11.8% Service
Slide 7: Trade NWC as at 31 March 2023
Trade NWC as at 31 March 2023 Trade NWC Cash conversion cycle - days €m 31.03.19 31.03.22 31.03.23 Accounts Receivable 368.8 308.7 350.7 112 Days 100 85 74 100 98 95 Inventory 173.6 235.4 245.3 85 Days 59 80 64 80 74 Accounts Payable (289.6) (327.7) (362.5) 60 59 64 54 Days 98 112 95 43 Trade NWC 25
Slide 8: Net Debt as at 31 March 2023
Net Debt as at 31 March 2023 Net Debt Net Debt net of IFRS 16 - trend €m 31.12.21 31.12.22 31.03.22 31.03.23 €m Liquidity 250.0 191.7 148.4 155.0 192.3 Short-term net debt (97.3) (110.8) (99.4) (127.6) +65.0 138.3 127.3 Long-term net debt (219.3) (219.1) (176.2) (219.7) +71.7 Net Debt before IFRS 16
Slide 9: Events after 31 March 2023
Events after 31 March 2023 - On 28 April 2023 the Shareholders' Meeting approved the distribution of a gross dividend of 0.38 Euro per share with “ex- coupon” (no. 18) on 22 May 2023, record date on 23 May and payment on 24 May. The undistributed profit, the size of which will be determined on the b
Slide 10: Current trading
Current trading - The trend of sales to Street Market and National Account clients in April is consistent with the growth objectives for 2023 and confirms the progressive recovery in margins already highlighted in 1Q 2023, with the first quarter being historically characterized by a low seasonality
Slide 11: Investor Relations contacts
Investor Relations contacts Antonio Tiso atiso@marr.it tel. +39 0541 746803 mob. +39 331 6873686 Léon Van Lancker lvanlancker@marr.it mob. +39 335 1872014 MARR S.p.A. Via Spagna, 20 - 47921 Rimini (Italy) website www.marr.it 11