Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Q1 2021 Earnings Presentation
12 slides from Frigoglass S.a.i.c's earnings presentation, May 20, 2021
Slide 1: Results Presentation First-quarter 2021
Results Presentation First-quarter 2021 2019 20 May 2021
Slide 2: Forward Looking statements
Forward Looking statements This presentation may contain forward-looking statements which are based on current expectations and assumptions about future events. All statements other than statements of historical fact included in this presentation, including, without limitation, statements regarding
Slide 3: Operational Review
Operational Review Financial Review Nikos Mamoulis 32
Slide 4: Q1 2021 highlights
Q1 2021 highlights Sales -29% y-o-y; COVID-19 impact Adverse FX impact High comparatives EBITDA margin at 15.1%, in-line with prior year despite sales decline €75m of liquidity Successful expansion of Frigoserve in Switzerland Initiation of furnace rebuild project in Nigeria First-qu
Slide 5: Q1 impacted by COVID-19 restrictions
Q1 impacted by COVID-19 restrictions Solid growth in Asia more than offset by lower investments in Europe and Africa • East Europe: Lower y-o-y Commercial Refrigeration Sales Evolution by Geography sales, cycling high comparatives in pre- (in €m) pandemic Q1 2020; 140 underlying trend improved compa
Slide 6: FX-neutral Glass business sales increased by 22%
FX-neutral Glass business sales increased by 22% Sustained volume recovery in glass containers • Medium to high single-digit Glass Sales Evolution volume growth in glass containers, driven by (in €m) breweries, pharmaceutical 40 companies and distillers 35 • Increased export activity 30 • Strong pla
Slide 7: Financial Review
Financial Review Financial Review Manos Metaxakis 32
Slide 8: Q1 2021 financial performance overview
Q1 2021 financial performance overview Commercial Refrigeration Operations Change, Q1 2021 Q1 2020 (in €m) % Sales 73.8 111.2 -33.6% EBITDA 7.6 13.7 -44.9% EBITDA margin, % 10.2% 12.3% -2.1pp Glass Operations Change, Q1 2021 Q1 2020 (in €m) % Sales 22.1 24.7 -10.8% EBITDA 6.9 6.8 0.9% EBITDA margin,
Slide 9: FCF generation, despite lower business activity
FCF generation, despite lower business activity Key Free Cash Flow elements (in €m) Q1 2021 Q1 2020 Change EBITDA 14.4 20.5 -6.1 Net Trade Working Capital Change -15.5 -17.6 2.1 Capital Expenditure -1.4 -4.5 3.1 Adjusted Free Cash Flow1 0.2 2.1 -1.8 Adjusted Net Debt2 260.7 249.9 Adj. Free Cash Flow
Slide 10: Business Outlook
Business Outlook Financial Review Nikos Mamoulis 32
Slide 11: Business outlook
Business outlook Uncertainty on pace and scale of the economic recovery Lifting of measures and vaccination rates to support beverage consumption in on- trade and cooler investments Volume growth momentum to build up in Nigeria Q2 sales to return to growth; April’s sales +31% y-o-y Glass f
Slide 12: Q&A
Q&A For further information on Frigoglass please visit our website at: www.frigoglass.com Or contact: John Stamatakos Head of Treasury & Investor Relations jstamatakos@frigoglass.com +30 210 61 65 767 1