Vidrala Sa · BME:VID

Vidrala Sa — Investor Presentation (March 2015)

23 slides from Vidrala Sa's investor presentation, March 2015

  1. Slide 1: Company Presentation March 2015

    54,0 53,0 52,0 51,0 50,0 49,0 48,0 47,0 46,0 45,0 20,0 18,0 16,0 14,0 12,0 10,0 49,0 48,5 48,0 47,5 47,0 46,5 46,0 45,5 100% COMPANY PRESENTATION MARCH 2015

  2. Slide 2: Disclaimer

    DISCLAIMER This presentation includes or may include representations or estimations concerning the future about intentions, expectations or forecasts of VIDRALA or its management. which may refer to the evolution of its business performance and its results. These forward looking statements refer to

  3. Slide 3: Index

    INDEX - General overview - Business fundamentals - Business figures - Acquisition of Encirc

  4. Slide 4: Vidrala Group - Overview

    VIDRALA GROUP - Overview Vidrala is Western Europe’s fourth glass container manufacturer through eight complementary sites located in five countries (Spain, Portugal, Italy, Belgium and the United Kingdom). Vidrala supplies glass containers for a wide variety of products in the beverage and food ind

  5. Slide 5: Vidrala Group – Key milestones

    VIDRALA GROUP – Key milestones 1985 – IPO 2003– 2007– 2015– Madrid and Acquisition of Acquisition of Acquisition of Bilbao stock one plant in one plant in Encirc exchanges Portugal Belgium 1965 1985 1989 2003 2005 2007 2015 1965 – 1989 – Vidrala 2005 – Acquisition of two Vidrala begins second greenf

  6. Slide 6: Vidrala Group – Business profile

    VIDRALA GROUP – Business profile Towards an international projection... ... Optimizing the product mix SALES BREAKDOWN BY COUNTRY SALES BREAKDOWN BY PRODUCT 2002-2014. EUR mm. 5 years average. As a percentage of sales. IBERIA 468 PRESERVES 457 JUICES 3% WATER 450 3% 1% REST OF EU 387 406 SOFT DRINKS

  7. Slide 7: Vidrala Group – Business profile

    VIDRALA GROUP – Business profile # OF CUSTOMERS: 1,518 TOP 10 CUSTOMERS: 28.9% CUSTOMER LOYALTY: 96% 7

  8. Slide 8: Index

    INDEX - General overview - Business fundamentals - Business figures - Acquisition of Encirc

  9. Slide 9: Glass Packaging Production

    BUSINESS FUNDAMENTALS – The market Demand for food and beverage packaging in Western Europe (2006-2013) In thousands of tons. Source: FEVE 20.000 Average: The glass c.19mm tons per year packaging 15.000 market in Europe: 10.000 a solid and stable market 5.000 0 2006 2007 2008 2009 2010 2011 2012 201

  10. Slide 10: Business Fundamentals – The product

    BUSINESS FUNDAMENTALS – The product GLASS SHARE IN RIGID PACKAGING GLASS SHARE IN RIGID PACKAGING FOR FOOD AND BEVERAGES IN FOR TOP* BEVERAGES IN WESTERN EUROPE WESTERN EUROPE YEAR 2013 YEAR 2013 Glass, the preferred material: premium products Survey about preferred packaging material for food and b

  11. Slide 11: Index

    INDEX - General overview - Business fundamentals - Business figures - Acquisition of Encirc

  12. Slide 12: Vidrala – Profitable growth

    VIDRALA – Profitable growth REVENUES (EUR mm) 500 400 300 200 100 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 EBIT (EUR mm and % margin) EBIT (EURmm) EBIT (% margin) 80 20% 60 15% 40 10% 20 5% 0 0% 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

  13. Slide 13: Vidrala – Focused on cash generation

    VIDRALA – Focused on cash generation CASH GENERATION IN 2014 EUR in millions and as a percentage of sales 108.5 WORKING CAPITAL INTERESTS +0.9% & TAXES 72.3 -2.1% CAPEX -6.5% 23.2% 12.0% 15.4% EBITDA FREE CASH FLOW 2014 2014 13

  14. Slide 14: Vidrala – Shareholder remuneration

    VIDRALA – Shareholder remuneration DIVIDENDS AND ATTENDANCE BONUSES (EUR mm) 2014 + 15% 16 14 12 10 8 6 4 2 - 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 14

  15. Slide 15: Vidrala – Deleveraging profile

    VIDRALA – Deleveraging profile FINANCIAL PROFILE DEBT SINCE 2009 AT YEAR END EUR mm 300 257.0 250 218.9 200 189.3 159.6 150 117.9 100 67.9 50 0 DEC 2009 DEC 2010 DEC 2011 DEC 2012 DEC 2013 DEC 2014 15

  16. Slide 16: Index

    INDEX - General overview - Business fundamentals - Business figures - Acquisition of Encirc

  17. Slide 17: Encirc

    Y encirc

  18. Slide 18: I. Encirc Limited - Description

    I. ENCIRC LIMITED - DESCRIPTION  Encirc Glass is a glass packaging manufacturer for the food and beverage markets in UK and Ireland.  It operates two sites: Derrylin in Northern Ireland and Elton in England.  It is the sole player in Ireland and the second player within the UK (roughly 27% market

  19. Slide 19: I. Encirc Limited - Financials

    I. ENCIRC LIMITED - FINANCIALS SALES 2012A-2014A (GBP mm) EBITDA 2012A-2014A (GBP mm) 45,9 245,5 41,0 42,3 236,6 237,0 2012A 2013A 2014A 2012A 2013A 2014A

  20. Slide 20: II. UK & Ireland – The Glass Packaging Market

    II. UK&IRELAND – THE GLASS PACKAGING MARKET SALES BY MARKET (IN ‘000 TONS) Source: FEVE 2008 2013 -2.5% -7.4% -9.1% 2013/2008 3.755 3.661 3.774 MAIN GLASS 3.548 3.326 -12.1% 3.429 +1.5% 3.286 PACKAGING 2.923 MARKETS 2.312 2.345 IN EUROPE PLAYERS IN UK&IRELAND:  Market share (est.): 41%  #2 worldwi

  21. Slide 21: III. Transaction Rationale

    III. TRANSACTION RATIONALE 2014 REVENUES BY GEOGRAPHY Rest of Ireland continental Europe 23% + 34% Iberia 54% Italy Great Britain 12% (GB) 77% + Rest of continental Europe Iberia 22% 35% Italy 8% GB&Ireland 35% 21

  22. Slide 22: III. Transaction Rationale

    III. TRANSACTION RATIONALE 2014 REVENUES BY PRODUCT-MIX Others Soft Drinks Wine Soft Drinks 8% 15% 15% 8% + Food Food 10% Wine 15% 49% Spirits Spirits 16% 7% Beer Beer 13% 45% Others + Soft Drinks 10% 6% Wine 37% Food 13% Spirits 10% Beer 24% 22

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