O-i Glass, Inc. · NYSE:OI
O-i Glass — Q1 2025 Earnings Presentation
19 slides from O-i Glass's earnings presentation, Apr 30, 2025
Slide 1: First Quarter 2025 Earnings
FIRST QUARTER 2025 EARNINGS APRIL 29, 2025
Slide 2: Safe Harbor Comments and Forward-Looking Statements
SAFE HARBOR COMMENTS AND FORWARD-LOOKING STATEMENTS This presentation contains “forward-looking” statements related to O-I Glass, Inc. (“O-I Glass” or the “Company”) within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and Section 27A of the Secu
Slide 3: Strong Start to 2025
1Q25 OVERVIEW 1Q25 aEPS was $0.40/sh Adjusted Earnings Per Share (aEPS) Below PY, as anticipated, but above management’s plan Diluted ¹ $0.45 $0.40 STRONG Strong Volume & Fit To Win Benefits 4.4% sales volume growth and $61M initiative savings START TO 2025 Mitigated Expected Headwinds Lower net pri
Slide 4: Encouraging Demand Growth in 1Q25
ENCOURAGING DEMAND GROWTH IN 1Q25 SHIPMENTS UP ~ 4.4% reflecting normalization of inventory across the value chain and some advanced purchases ahead of new tariffs. Addressing excess capacity to improve O-I’s competitive position and enable profitable growth. O-I GLASS DEMAND TREND YoY Change in O-I
Slide 5: Delivering on Our Fit to Win Savings Objective
DELIVERING ON OUR FIT TO WIN SAVINGS OBJECTIVE STRONG FIT TO WIN BENEFITS and solid progress towards ≥ $650M savings target by 2027 2024 2025 1 3 YEAR 1 ($M) ACTUAL 1Q25 TARGET TARGET COMMENTS All actions completed to secure 2025 benefits Reshape SG&A 14 22 100 200 Expect all actions to achieve 2027
Slide 6: 1Q25 Earnings Review
1Q25 EARNINGS REVIEW 1Q25 adjusted earnings down from prior year but EXCEEDED MANAGEMENT’S PLAN due to stronger than anticipated sales volume growth and higher Fit To Win benefits aEPS¹ SEGMENT OPERATING PROFIT 0.45 31 +4% (in tons) 141 0.01 (2) +4% (in tons) 0.05 0.40 11 102 (0.01) 0.07 0.00 AMERIC
Slide 7: Reaffirming 2025 Guidance
REAFFIRMING 2025 GUIDANCE 2025 EARNINGS EXPECTED TO IMPROVE 50% TO 85% FROM 2024 EST. QUARTERLY ALLOCATION OF aEPS 2025 Guidance 10%-12% 2024 2025E 27%-33% Adjusted EPS $0.81 $1.20 - $1.50 Free Cash Flow ($M) ($128) $150 - $200 28%-35% Strong start to 2025 and successfully managing elements within 2
Slide 8: New Tariffs Represent Both Challenges and Opportunities
NEW TARIFFS REPRESENT BOTH CHALLENGES AND OPPORTUNITIES Changes in global trade policy may create both new challenges CROSS BORDER SHIPMENTS AND O-I CROSS BOARDER SHIPMENTS and opportunities which cannot be fully determined at this stage POTENTIAL TARIFF EXPOSURE AND NEW TARIFF EXPOSURES (Includes e
Slide 9: Conclusion – Executing on What Is in Our Control
CONCLUSION – EXECUTING ON WHAT IS IN OUR CONTROL EXECUTING VALUE CREATION ROADMAP STRONG START TO 2025 HORIZON 3 (2028+) STRATEGIC OPTIONALITY FUTURE O-I EP CAPTURE MARKETS ARE IMPROVING HORIZON 2 (2026+) PROFITABLE GROWTH HORIZON 1 (2024+) EXECUTING FIT TO WIN FIT TO WIN 2025 EARNINGS EXPECTED TO C
Slide 10: Appendix
APPENDIX 10
Slide 11: Summary Financial Results: 1Q25 vs 1Q24
SUMMARY FINANCIAL RESULTS: 1Q25 VS 1Q24 NET SALES SEGMENT OPERATING PROFIT $M except EPS and % AMERICAS EUROPE CORP TOTAL AMERICAS EUROPE TOTAL aEPS 1Q24 $ 854 $ 709 $ 30 $ 1,593 $102 $133 $235 $0.45 % Margin 11.9% 18.8% 15.0% FX (59) (14) - (73) (2) (2) (4) (0.01) SUBTOTAL $ 795 $695 $30 $1,520 $10
Slide 12: Key Assumptions and Sensitivities
KEY ASSUMPTIONS AND SENSITIVITIES APPROXIMATE ANNUAL IMPACT ON FX RATES AT KEY POINTS EPS FROM 10% FX CHANGE 28-Apr AVG AVG 2025 1Q25 1Q24 EUR 0.19 EUR 1.14 1.05 1.08 MXN 0.05 MXN 19.59 20.53 16.94 BRL 0.02 BRL 5.66 5.82 4.98 COP 0.02 COP 4,216 4,162 3,899 KEY 2025 ASSUMPTIONS • aEBITDA: $1.15B - $1
Slide 13: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES The company uses certain non-GAAP financial measures, which are measures of its historical or future financial performance that are not calculated and presented in accordance with GAAP, within the meaning of applicable SEC rules. Management believes that its presentation
Slide 14: Reconciliation to Adjusted Earnings
RECONCILIATION TO ADJUSTED EARNINGS The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted earnings and adjusted earnings per share, for the periods ending after March 31, 2025 to its most directly comparable GAAP financial measure, net earni
Slide 15: Segment Reconciliations
SEGMENT RECONCILIATIONS 1Q25 PRICE, SALES VOLUME AND CURRENCY IMPACT ON REPORTABLE SEGMENT SALES 1Q25 PRICE, SALES VOLUME, OPERATING COSTS AND CURRENCY IMPACT ON REPORTABLE SEGMENT OPERATING PROFIT 15 (a) Currency effect on net sales and segment operating profit determined by using 2025 foreign curr
Slide 16: Reconciliation for Segment Operating Profit
RECONCILIATION FOR SEGMENT OPERATING PROFIT 16
Slide 17: Reconciliation to Adjusted Effective Tax Rate
RECONCILIATION TO ADJUSTED EFFECTIVE TAX RATE The Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted effective tax rate, for the year ending December 31, 2025, to its most directly comparable GAAP financial measure, provision for income taxes
Slide 18: Reconciliation to Adjusted EBITDA
RECONCILIATION TO ADJUSTED EBITDA For the periods ending after March 31, 2025, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, adjusted EBITDA, to its most directly comparable U.S. GAAP financial measure, net earnings attributable to the Compan
Slide 19: Additional Reconciliations
ADDITIONAL RECONCILIATIONS RECONCILIATION TO FREE CASH FLOW RECONCILIATION TO NET DEBT LEVERAGE RATIO For the year ending December 31, 2025, the Company is unable to present a quantitative reconciliation of its forward-looking non-GAAP measure, net debt leverage ratio, which is defined as total debt