Elopak Asa · OSL:ELO
Elopak Asa — Q3 2022 Earnings Presentation
22 slides from Elopak Asa's earnings presentation, Oct 26, 2022
Slide 1: Q3-22 Quarterly Presentation
Q3-22 QUARTERLY PRESENTATION OCTOBER 26, 2022 AMARCH Leading2021 Global Fresh Liquid Packaging Company and True Sustainability Champion March 2021
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 11 The World’s Largest Player in Fresh Liquid Carton Packaging 22 14 Billion Cartons Produced in 2021 Across 11 Manufacturing Sites 3 Product Suite with More Than 400 SKUs 44 Sales to 70+ Markets with ~2,500 Employees 56 Established in 1957 Historical Revenue Development1 Revenue
Slide 4: Chosen by people, packaged by nature
AR ae j Chosen 6 by people, packaged by nature : E
Slide 5: Committed to remaining our customers' partner
As worldwide makers of carton-based packaging, we are committed to remaining our customers’ partner and the consumers’ favorite, through relentlessly developing new solutions for an expanding range of content. Applying market-leading technology, skills and natural material sourcing, we always aim to
Slide 6: Russia entity deconsolidated as of July 15, 2022
Russia entity deconsolidated as of July 15, 2022 On July 15, 2022 Elopak entered into an agreement to divest the Russian legal entity. The agreement terms implies that Elopak lost control of the Russian entity on the date it was signed, hence the entity is no longer consolidated in the Elopak Group.
Slide 7: Q3-22 Business Performance
Q3-22 BUSINESS PERFORMANCE CEO Thomas Körmendi
Slide 8: Q3 2022 Business Highlights
Q3 2022 Business Highlights Margin recovery driven by price increases on our products and continued growth in Americas segment Revenue at Adjusted EBITDA of Margin recovery q-o-q 272 EURm 32 EURm - Higher input costs reduced margin y-o-y 26% y-o-y growth 11.8% margin 15% organic Price Initiatives in
Slide 9: Q3 2022 Financial Highlights
Q3 2022 Financial Highlights Strong revenue growth, Adj. EBITDA up 7% y-o-y Group Revenues (EURm), CAGR (%) Group Adjusted AdjustedEBITDA EBITDA (EURm) 18% -14% 757 640 93 80 26% 2021 +7% 2021 272 14.5% 11.0% 216 2022 30 32 2022 13.9% 11.8% Q3 YTD Q3 YTD ▹ Revenue growth of 56 EURm, 26% y-o-y ▹ Adju
Slide 10: Business update: EMEA
Business update: EMEA Solid Q3-22 performance – growth mainly driven by price increases and acquisition in MENA Revenues Q3-22 (EURm) – EMEA Key commentary EURm ▹ Revenue growth of 34 EURm, 20% y-o-y +14% – 12 EURm positive impact from acquired business (7 % y-o-y) 588 600 ▹ Organic revenue growth o
Slide 11: Business update: Americas
Business update: Americas Quarterly revenue is up by 50% y-o-y, and continued strong profitability performance Revenues Q3-22 (EURm) – Americas Key commentary EURm ▹ Significant revenue growth of 23 EURm, 50 % y-o-y – Positive currency translation effects of 11 EURm – Growth in juice and plant-based
Slide 12: Profitable Growth Drivers
Profitable Growth Drivers Fresh Opportunity Aseptic Growth Broaden Plastic to Carton Commercial Mid to Long Today in North America Roadmap Geographic Footprint Conversion Excellence Term Goal Growth on the back of the Execute Americas Margin Global Liquid Pure-Pak® Aseptic MENA: Profitable Global Fr
Slide 13: Our Growth Strategy – In The Market Place
Our Growth Strategy – In The Market Place Pfanner, Austria Feiraco, Spain Tesco, UK Beta Site Installation of Zero emissions milk – Pure-Pak® Launch of new plant-based range 2 ltr. Aseptic Line Sense Aseptic 12
Slide 14: Q3-22 Financial Performance
Q3-22 FINANCIAL PERFORMANCE CFO Bent Kilsund Axelsen
Slide 15: Adj. EBITDA above comparable period – driven by Americas
Adj. EBITDA above comparable period – driven by Americas Adj. EBITDA (EURm), CAGR (%) and Adj. EBITDA margin (%) Key commentary Americas EMEA ▹ EMEA 21.0% 19.7% 18.9% 19.0% 14.3 11.8% 15.7% 11.3% – Price increases implemented mitigated high +42% raw material costs -18% – High raw-material and energy
Slide 16: Adjusted EBITDA, third quarter 2022
Adjusted EBITDA, third quarter 2022 EBITDA growth in third quarter 2022 compared to 2021, primarily due to volume growth and price increases Quarterly Adjusted EBITDA (EURm) Key commentary ▹ Positive margin impact from revenue growth -17 ▹ Raw material prices remained high throughout 24 the third qu
Slide 17: Cash flow YTD as of Q3 2022
Cash flow YTD1 as of Q3 2022 Working capital build-up YTD is driven by inflation and price increases Cash flow from operations Cash flow to investments Cash flow from financing EURm 57 1 14 46 24 25 6 120 97 5 29 20 9 Cash at Profit Depreciation, Change Other Acquisitions Purchase of Other Dividend
Slide 18: Financial position
Financial position Leverage Ratio for third quarter 2022 at 3.3x Leverage Ratio1 Key commentary Net Debt Leverage Ratio (mEUR) ▹ Leverage Ratio decreased to 3.3x as of 400 363 4.5 third quarter 2022, primarily driven by 345 347 340 347 improved NWC 350 329 311 318 4.0 300 3.6 ▹ In Q4 our new High Ba
Slide 19: Outlook
Outlook ▹ Revenues from continued operations above EUR 1 billion FY 2022 ▹ Continued high uncertainty on input costs, Q4 adjusted EBITDA margin in line with Q3 ▹ Geopolitical and macro-economic uncertainty remain a concern 18
Slide 20: Summary
Summary ▹ Despite a challenging environment recently, Elopak continues to deliver growth and profitability, as we further develop the company ▹ We are in extraordinary times – Elopak is resilient and well positioned ▹ Strategy implementation on track; – Americas growing strong and broadening portfol
Slide 21: Financial calendar
Financial calendar Event Date Q4 2022 Financials February 21, 2023 Q1 2023 Financials May 4, 2023 Q2 2023 Financials August 17, 2023 Q3 2023 Financials November 2, 2023 20
Slide 22: Q&A
Q&A