Recticel Sa · EURONEXT:RECT
Recticel Sa — ING Benelux Conference 2022
28 slides from Recticel Sa's conference presentation, Nov 22, 2022
Slide 1: 3Q2022 Trading update and outlook
RECTICEL 3Q2022 Trading update and outlook ING Benelux Conference Brussels – November 22, 2022 Olivier Chapelle – Chief Executive Officer 1 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 2: Agenda
Agenda Key highlights 3Q & YTD 2022 Financial position & Outlook 2022 Sustainability 2 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 3: Highlights YTD September 2022
Highlights YTD September 2022 1 The Engineered Foams activities which are currently in process of being divested to the US-based Carpenter Company, are accounted for as Discontinued Operations (IFRS 5). 3Q 2022: sales from €107.6m to €153.5m (+42.7%): +€51.7m Trimo, -€8.9m raw material sales (no mar
Slide 4: Engineered Foams divestment to Carpenter
Engineered Foams divestment to Carpenter 3Q2022 Trading update (Recticel press release 28 Oct 2022) The divestment of Engineered Foams is expected to close at the latest by the first quarter of 2023, following the decision on 2 September 2022 by the Competition and Markets Authority in the UK to fas
Slide 5: Recticel Engineered Foams contributed to launch of NASA's Artemis I moon mission
Recticel Engineered Foams contributed to launch of NASA‘s Artemis I moon mission on 16/11/2022 U.S. subsidiary Soundcout, have played a part in the SpaceX (2020) and BlueOrigin (2021) rocket launches and contributes to the Artemis-I mission in 2022. This test flight will pave the way for future crew
Slide 6: 3Q & YTD 2022 Group key figures
3Q & YTD 2022 Group key figures Group Sales Group Sales 3Q 2022 YTD Sep 2022 €153.5m €427.9m +42.7% +26.9% Comparison to prior year quarter: Comparison to prior year: +€51.7m Trimo contribution +€90.3m Trimo contribution -€8.9m chemicals sales to divested -€39.9m chemicals sales to divested
Slide 7: Crude oil and Naphtha prices back to price levels prevailing in 1Q2022
Crude oil and Naphtha prices back to price levels prevailing in 1Q2022 7 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 8: Abrupt energy price correction after the August 2022 peaks
Abrupt energy price correction after the August 2022 peaks. But gas & electricity remain respectively 5x and 8x more expensive than beginning of 2021. 8 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 9: Raw material market stable/reducing slightly compared to peak in May 2022
Raw material market stable/reducing slightly compared to peak in May 2022 +122% 9 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 10: Chemical raw material suppliers: 3Q2022 figures illustrate global volume declines
Chemical raw material suppliers: 3Q2022 figures illustrate global volume declines. 26/10/2022 BASF achieved solid EBIT before special items despite BASF (€ m) 3Q2021 3Q2022 Change % 9M2021 9M2022 Change % continued high raw materials and energy prices Sales 19,669 21,946 12% 58,822 68,003 16% EBITDA
Slide 11: Chemical raw material suppliers: 3Q2022 figures illustrate global volume declines
Chemical raw material suppliers: 3Q2022 figures illustrate global volume declines. 20/10/2022 DOW achieves EBITDA guidance despite looming DOW ($ m) recession – high energy and raw material prices weigh 3Q2021 3Q2022 Change % 9M2021 9M2022 Change % Sales 14,837 14,115 -5% 40,604 45,043 11% on earnin
Slide 12: Chemical raw material suppliers: 3Q2022 figures illustrate global volume declines
Chemical raw material suppliers: 3Q2022 figures illustrate global volume declines. 25/10/2022 Covestro achieves EBITDA guidance despite looming COVESTRO (€ m) 3Q2021 3Q2022 Change % 9M2021 9M2022 Change % recession – high energy and raw material prices weigh Sales 4,302 4,618 7% 11,565 14,004 21% on
Slide 13: Covestro pauses investment project for world-scale MDI plant
Covestro pauses investment project for world-scale MDI plant 07/11/2022 Response to economic uncertainties, energy crisis and weakening global economy • No fundamental investment stop Owing to the European energy crisis and a global economy that continues to weaken, Covestro has decided to pause the
Slide 14: Agenda
Agenda Key highlights 3Q & YTD 2022 Financial position & Outlook 2022 Sustainability 14 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 15: Net financial debt decreased to €278.2m mainly due to lower net working capital need
Net financial debt decreased to €278.2m mainly due to lower net working capital need in million € 30 SEP 2021 31 DEC 2021 31 MAR 2022 30 JUN 2022 30 SEP 2022 Total Equity - 391.3 - 417.6 - Net financial debt excluding factoring 130.3 103.8 92.6 247.6 253.2 + Lease debt (IFRS 16) 58.7 44.0 37.0 7.3 7
Slide 16: Outlook 2022
Outlook 2022 In this challenging overall environment, we expect Adjusted Ebitda of our continued business to reach between €60 and €65 million for the full year 2022. 16 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 17: Agenda
Agenda Key highlights 3Q & YTD 2022 Financial position & Outlook 2022 Sustainability 17 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 18: All our product categories, based upon thermal insulation, contribute to a better world
All our product categories, based upon thermal insulation, contribute to a better and more sustainable world. We are in the right business. INSULATION INSULATED VACUUM INSULATED THERMO-ACOUSTIC BOARDS PANELS PANELS BOARDS 18 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Tradin
Slide 19: The GHG protocol sets the world's most widely used emissions standards
The GHG protocol sets the world’s most widely used standards for companies and organisations to measure and manage their emissions 19 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 20: Recticel joins the Science Based Targets initiative
Recticel joins the Science Based Targets initiative We are committed to two ambitious net-zero targets in a effort to limit global warming to 1.5°C 20 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 21: Our climate commitment
Our climate commitment is a clear statement that we fight climate change and consciously preserve our precious natural resources SCOPE 1 SCOPE 2 Direct emissions from Indirect emissions from As a company we make a lasting positive impact on the environment. owned or controlled purchased electricit
Slide 22: We will use ESG data as a critical planning tool
We will use ESG data as a critical planning tool for long-term sustainable growth To optimize our operations through energy, water, waste and carbon efficiency To change our mix of energy sources to de-carbonated sources To point to new product opportunities To identify areas to strengthen t
Slide 23: ESG ratings measure our company performance
ESG ratings measure our company performance, providing transparency and clarity to our stakeholders as well as identifying the areas where we can continue to improve o Focus on reduction GHG emissions, safeguarding water o Focus on ESG risk mitigations & long term value Others resources and protecti
Slide 24: Our 2021 impact on climate change: 51 times
Our 2021* impact on climate change Over the lifetime of their use, the insulation products we sold in 2021 will offset our total 2021 carbon footprint by 51 TIMES Compared to 2020 CLIMATE POSITIVE MULTIPLE + 11% CARBON FOOTPRINT INDICATOR - 4% CARBON INTENSITY - 17% RECYCLING - 76% SUSTAINABLE R&D P
Slide 25: Contacts
Contacts Media & Investor Relations Investor Relations Recticel NV Olivier Chapelle Dirk Verbruggen Avenue du Bourget/Bourgetlaan 42 Chief Executive Officer Chief Financial & Legal Officer 1130 Brussels - Belgium chapelle.olivier@recticel.com verbruggen.dirk@recticel.com +32 (0)2 775 18 01 +32 (0)2
Slide 26: Back-up
Back-up 26 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook
Slide 27: Fighting climate change requires actions on all three emission scopes
Fighting climate change requires actions on ALL three emission scopes SCOPE 1 Direct emissions from owned or controlled resources SCOPE 1 Direct SCOPE 3 SCOPE 3 Indirect Indirect SCOPE 2 Energy/heat SCOPE 2 Indirect generation at SCOPE 3 Leased company Transport & Indirect emissions from facilities
Slide 28: Insulation boards in residential buildings
Insulation boards in residential buildings 28 Brussels, November 22, 2022 ING Benelux Conference – Recticel 3Q2022 Trading update and outlook