Elopak Asa · OSL:ELO
Elopak Asa — Q1 2023 Earnings Presentation
22 slides from Elopak Asa's earnings presentation, May 4, 2023
Slide 1: Q1 2023 Quarterly presentation
Q1 2023 Quarterly presentation MAY 4, 2023
Slide 2: Disclaimer
Disclaimer Certain statements included in this announcement contain forward -looking information, including, without limitation, information relating to (a) forecasts, projections and estimates, (b) statements of Elopak management concerning plans, objectives and strategies, such as planned expansio
Slide 3: Elopak at a glance
Elopak at a glance Group Historical revenue development1 1 081 1 024 Russia 940 910 909 906 909 856 872 85 The world’s largest player in fresh liquid carton packaging 778 780 781 769 776 14 billion cartons produced in 2022 855 Sales to 70+ markets 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 20
Slide 4: We're in the business of sustainable packaging
I We’re in the business of sustainable packaging
Slide 5: We're in the business of protecting essential commodities
I We’re in the business of protecting essential commodities
Slide 6: We're in the business of enabling world nutrition
I We’re in the business of enabling world nutrition
Slide 7: Q1 2023 Business performance
Q1 2023 Business performance CEO Thomas Körmendi
Slide 8: Q1 2023 Business highlights
Q1 2023 Business highlights Strong start to the year, driven by continued profitable growth in Americas and acquired business Revenue at Adjusted EBITDA of Excellent performance in Americas with strong 283 EURm 41 EURm India, with strengthened and profitable growth – 26% YoY growth 16 EURm YoY growt
Slide 9: Financial highlights
Financial highlights Q1 2023 strong revenue and Adj. EBITDA growth driven by price increases in EMEA, volume in Americas, and acquired business Group Revenues, Adjusted EBITDA (EURm), CAGR (%) Key Commentary 11.1% 14.5% ▹ Strong recovery after a slow start to the quarter, as volumes came back in the
Slide 10: Business update: EMEA
Business update: EMEA Solid Q1 23 performance – growth mainly driven by pricing and inventory turn and acquired business Revenues (EURm) - EMEA Key Commentary ▹ Growth in aseptic Pure-Pak® volumes in the quarter, driven +39 by placement of filling machines in the UHT segment (+22%) 214 ▹ Growth in R
Slide 11: Business update: Americas
Business update: Americas Quarterly revenue is up by 27% YoY, driven by volume growth from existing and new customers Revenues (EURm) - Americas Key Commentary +15 ▹ Volumes continued to grow supported by onboarding of new (+27%) customers and strengthening of our product portfolio – Growth in dairy
Slide 12: Five profitable growth drivers steer Elopak's future direction
Five profitable growth drivers steer Elopak’s future direction TODAY MID TO LONG TERM GOAL FRESH BROADEN ASEPTIC GROWTH PLASTIC TO CARTON COMMERCIAL OPPORTUNITY GEOGRAPHIC ROADMAP CONVERSION EXCELLENCE IN NORTH AMERICA FOOTPRINT Global fresh Execute Americas Growth on the MENA: profitable Non-food g
Slide 13: Examples of our growth strategy in the market
Examples of our growth strategy in the market Liquid Liquid detergent detergent Liquid detergent Paperdent from Luoro, Grahams, UK Two major product launches in Nutrinor, Quebec - North Germany Launched milk in Pure-Pak® household products in Europe America The first mouthwash in D- cartons with tet
Slide 14: Q1 2023 Financial performance
Q1 2023 Financial performance CFO Bent Kilsund Axelsen
Slide 15: Adjusted EBITDA by segment
Adjusted EBITDA, Q4 2022 EBITDA growth YoY in Q1, primarily driven by price increases in Europe, growth in Americas, and new business in MENA & India Adj. EBITDA (EURm), CAGR % and Adj. EBITDA margin (%) Key commentary ▹ EMEA EMEA Americas – Q1 strong revenue growth supported growth in adj. EBITDA a
Slide 16: Adjusted EBITDA, Q1 2023
Adjusted EBITDA, Q1 2023 Quarterly adjusted EBITDA (EURm) +16 (64%) 8 7 41 31 1 0 25 Q1 2022 Top Line Raw materials* Operations FX effects** Other Q1 2023 Adj. EBITDA Adj. EBITDA *Raw materials are only related to carton production and caps sourcing in Europe ** FX related to EURUSD translation impa
Slide 17: Cash flow Q1 2023
Cash flow Q1 2023 Strong cash generation from operations in Q1, offset by down payment of long-term debt Cash flow from operations Cash flow to investments Cash flow from financing -4 0 15 -9 -1 0 -8 15 23 -41 -1 26 16 Cash at Profit before Depreciation, Change Other Acquisitions Purchase of Other D
Slide 18: Financial position
Financial position Leverage ratio in the quarter decreased to 2.7x from improved EBITDA and down payment of long-term debt Leverage ratio1 Key commentary Net Debt Leverage (mEUR) Ratio 400 391 5.0 ▹ Net debt of EUR 367 million 363 367 345 347 347 4.5 – Bank debt EUR 276 million 350 340 91 329 – Leas
Slide 19: Outlook 2023
I Outlook 2023 ▹ Strong start to the year, somewhat better than anticipated ▹ Increased liquid board cost for Elopak will take effect from Q2 ▹ Significant inflationary pressures on costs, expected to impact our full year EBITDA margin in 2023 compared to current level
Slide 20: Summary
I IMAGES TO BE UPDATED Summary ▹ Elopak started the year on a strong note, delivering strong profitable organic growth ▹ In Q1 we experienced some tailwind from fluctuation and timing effects in pricing of raw materials and our own products ▹ We continue to deliver on our strategic initiatives and e
Slide 21: Financial calendar
I IMAGES TO BE UPDATED Financial calendar Event Date Annual General Meeting May 11, 2023 Q2 2023 Financials August 17, 2023 Q3 2023 Financials November 2, 2023
Slide 22: Thank you!
Thank you!