Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — FY2011 Earnings Presentation
17 slides from Frigoglass S.a.i.c's earnings presentation, 2012
Slide 1: Conference Call Presentation Full Year 2011 Financial Results
www.frigoglass.com Conference Call Presentation Full Year 2011 Financial Results
Slide 2: Participants
www.frigoglass.com 2 Conference Call Presentation Participants Doros Constantinou Executive Director Panos Tabourlos Chief Financial Officer John Stamatakos Investor Relations Manager
Slide 3: 2011 Highlights
www.frigoglass.com 3 Conference Call Presentation 2011 Highlights • Maintaining leading global position in the ICM market. • Full year sales growth of 21.4%, building on a strong 31.9% growth of the prior year. • Continued recovery in Europe and strong performance in Africa and North America. • 23 n
Slide 4: 4Q11 Highlights
www.frigoglass.com 4 Conference Call Presentation 4Q11 Highlights • Sales increased by 5.5% to €116.7 million. • Sales within Cool Operations declined by 1.2% to €87 million, cycling tough comparatives in 4Q10. • Sales in Eastern Europe declined in double digits, cycling 103% growth in the previous
Slide 5: Full Year & Fourth Quarter P&L Highlights
www.frigoglass.com 5 Conference Call Presentation Full Year & Fourth Quarter P&L Highlights (in €m) FY11 FY10 Y-o-Y % 4Q11 4Q10 Y-o-Y % Sales 555.2 457.2 21.4% 116.6 110.6 5.5% COGS 441.7 350.4 26.0% 93.7 85.1 10.1% Gross Profit 113.5 106.8 6.3% 22.9 25.5 -10.1% Operating Expenses 63.4 59.9 5.9% 14.
Slide 6: Balance Sheet
www.frigoglass.com 6 Conference Call Presentation Balance Sheet (in €m) FY11 FY10 Fixed Assets 261.9 208.9 Deferred Tax & Other LT Assets 14.7 13.3 Total Non-Current Assets 276.5 222.2 Inventories 180.0 135.9 Trade & Other Receivables 145.3 122.6 Cash & Cash Equivalents 88.1 80.0 Total Current Asset
Slide 7: Cash Flow
www.frigoglass.com 7 Conference Call Presentation Cash Flow (in €m) FY11 FY10 Cash Generated 82.1 77.0 Change in Working Capital -75.6 -36.0 Net Cash Flow from Operations 6.5 41.0 Net Cash Flow from Investment Activities -46.0 -28.6 Free Cash Flow -39.5 12.4 Increase in Bank Loans 54.8 42.0 Interest
Slide 8: Cool Operations
www.frigoglass.com Conference Call Presentation Cool Operations
Slide 9: Cool Operations │Full Year 2011 Highlights
www.frigoglass.com 9 Conference Call Presentation Cool Operations │Full Year 2011 Highlights • Sales increased by 20.4% to €451.7 million, cycling 37% growth in 2010, primarily reflecting strong growth in Europe. • Sales in Eastern Europe grew 24.2% to €163.2 million, driven by strong performances i
Slide 10: Cool Operations │Revenue Breakdown
www.frigoglass.com 10 Conference Call Presentation Cool Operations │Revenue Breakdown Revenue by Geography Revenue by Customer Group (in €m) FY11 FY10 Y-o-Y % (in €m) FY11 FY10 Y-o-Y % Eastern Europe 163.2 131.4 24.2% Coca-Cola Hellenic 113.1 62.6 80.8% Western Europe 100.6 72.3 39.2% Coca-Cola Bott
Slide 11: Cool Operations │Full Year & Fourth Quarter 2011 P&L Highlights
www.frigoglass.com 11 Conference Call Presentation Cool Operations │Full Year & Fourth Quarter 2011 P&L Highlights (in €m) FY11 FY10 Y-o-Y % 4Q11 4Q10 Y-o-Y % Sales 451.7 375.2 20.4% 87.0 88.1 -1.2% EBIT 36.8 33.6 9.3% 6.0 4.8 26.0% Net Profit 13.1 13.1 0.0% -0.6 0.2 n.m. EBITDA 53.5 48.9 9.3% 10.1
Slide 12: Recent Developments
www.frigoglass.com 12 Conference Call Presentation Recent Developments Updated Sustainability Strategy Environmental Quality & Environmental Customer Supplier impacts of safety of impacts of Workplace Community Engagement Engagement products products operations Awards Frigoglass won the “Gold Award
Slide 13: Glass Operations
www.frigoglass.com Conference Call Presentation Glass Operations
Slide 14: Glass Operations │Full Year 2011 P&L Highlights
www.frigoglass.com 14 Conference Call Presentation Glass Operations │Full Year 2011 P&L Highlights Revenue Mix by Operations • Sales increased by 26.3% to €103.5 million, with Frigoglass 2011 Jebel Ali accounting for €15.1 million for the seven months consolidation. Glass (ex-FJA) • Sales relating t
Slide 15: 2012 Outlook
www.frigoglass.com 15 Conference Call Presentation 2012 Outlook • Expect to maintain our positive momentum in Africa and deliver a strong performance in Asia. • Anticipate North America to remain strong, leveraging on the benefit of last year’s new product launches. • Cautious on the outlook in Euro
Slide 16: Our Strategy
www.frigoglass.com 16 Conference Call Presentation Our Strategy Sustainability Creating Sustain selective ICM geographic integration in optimum Innovation growth of Glass expansion corporate platform for Operations strategy future growth Development of new bespoke products that drive customers’ Sale
Slide 17: Thank You
www.frigoglass.com 17 Conference Call Presentation Thank You For further information on Frigoglass please visit our website at: www.frigoglass.com or contact our Investor Relations Department John Stamatakos, Investor Relations Manager jstamatakos@frigoglass.com +30 210 61 65 700 Disclaimer This pre