Grupa Kety Sa · GPW:KTY
Grupa Kety Sa — Q1 2021 Earnings Presentation
21 slides from Grupa Kety Sa's earnings presentation, May 7, 2021
Slide 1: Results for the 1st Quarter of 2021
RESULTS FOR THE 1st QUARTER of 2021 DARIUSZ MAŃKO RAFAŁ WARPECHOWSKI PIOTR WYSOCKI TOMASZ GRELA RAFAŁ LECHOWICZ CHAIRMAN OF THE BOARD MEMBER BOARD MEMBER BOARD MEMBER CEO ALUPOL PACKAGING BOARD May 7th, 2021
Slide 2: Quarter Results Above Expectations
QUARTER RESULTS ABOVE EXPECTATIONS MARKET OPERTIONS & FINANCE ENVIRONMENT CAPEX + GOOD BUSINESS + INCREASE OF SALES IN ALL + PLN 200 million - EBITDA ENVIRONMENT ON MAIN SEGMENTS PROFIT MARKETS + OPERATING ACTIVITIES + PLN 137 million - NET + FAVORABLE EUR/PLN WITHOUT ANY INTERRUPTION PROFIT EXCHANG
Slide 3: Segments Operating Activity
SEGMENTS OPERATING ACTIVITY 3
Slide 4: Flexible Packaging Segment – Market situation
FLEXIBLE PACKAGING SEGMENT Market situation LDPE ICIS spot low (EUR/tonę) PP ICIS spot low (EUR/tonę) 1 980 2 000 1 838 2 000 1 872 1 738 1 600 1 478 1 600 1 383 1 230 1 168 1 200 1 058 1 200 1 005 880 948 885 848 800 800 400 400 paź'20 lis'20 gru'20 sty'21 lut'21 mar'21 kwi'21 paź'20 lis'20 gru'20
Slide 5: Flexible Packaging Segment
FLEXIBLE PACKAGING SEGMENT (PLN million) 1 Q 2021 1 Q 2020 change Sales 284,5 245,0 +16% domestic 139,2 117,6 +18% foreign 145,2 127,4 +14% EBITDA increase by 54% due to higher sales EBITDA 77,0 50,1 +54% value and improved margins (both in the film incl. BOPP films 30,8 11,9 +159% and packaging seg
Slide 6: Flexible Packaging Segment
FLEXIBLE PACKAGING SEGMENT volume sales ('000 tons) capacity utilisation (%) 98% 96% 88% 96% 100% 92% 81% 30 High capacity utilization, despite strong 25 price pressure on the market in both areas 20 of the segment's activity. 50% 15 23,6 23,0 24,5 21,1 19,2 10 17,6 5 0% 0 4Q 2019 1Q 2020 2Q 2020 3Q
Slide 7: Extruded Products Segment – Market situation
EXTRUDED PRODUCTS SEGMENT Market situation 850 LME aluminium 3M (USD/t) Billets premium (USD/t), DDP North Germany 750 650 550 450 350 250 Oct Nov Dec 2021 Feb Mar April Observed strong recovery in demand for extruded products. Increase in aluminum quotations on the stock exchange. Increase of the c
Slide 8: Extruded Products Segment
EXTRUDED PRODUCTS SEGMENT (PLN million) 1 Q 2021 1 Q 2020 change Sales volume increase by 9%, revenues Sales 370,7 318,4 16% higher both domestically and on foreign markets. domestic 191,2 162,8 17% foreign 179,5 155,6 15% Increase in EBITDA thanks to high utilization EBITDA 52,4 37,3 40% of product
Slide 9: Extruded Products Segment
EXTRUDED PRODUCTS SEGMENT volume output ('000 tons) capacity utilisation (%) 92% 92% 95% 30,0 89% 85% 100,0% 90,0% Use of production capacity at a level close to 25,0 80,0% the maximum thanks to: 70,0% 20,0 60,0% • dynamic increase in orders 15,0 50,0% • record level of products sold in March - 40,0
Slide 10: Aluminum Systems Segment
ALUMINUM SYSTEMS SEGMENT DOMESTIC MARKET Examples of projects acquired in Q1 - Lower dynamics on office investment market. - Investments in the hotel industry - postponing the completion date to the following quarters. INTEL IGK6, Gdańsk + Observed high dynamics of new housing investments in the are
Slide 11: Aluminum Systems Segment
ALUMINUM SYSTEMS SEGMENT (PLN million) 1 Q 2021 1 Q 2020 change High level of sales in Q1 2021 as a result of the Sales 410,5 335,1 23% effectiveness of commercial activities domestic 240,3 214,0 12% undertaken in the previous quarters foreign 170,2 121,1 41% EBITDA 73,5 61,1 20% EBITDA margin 17,9%
Slide 12: Aluminum Systems Segment
ALUMINUM SYSTEMS SEGMENT • Aluprof S.A. Research and Development Center conducted (April 2021) the first study according to CWCT guidelines (methods more restrictive than European methods). • Tested facade mock-up (representative sample) - dimensions 9.5 m x 7.4 m. • Test under the supervision of th
Slide 13: Aluprof brand rebranding
ALUMINUM SYSTEMS SEGMENT ALUPROF brand rebranding 13
Slide 14: Consolidated Financial Results
CONSOLIDATED FINANCIAL RESULTS 14
Slide 15: Consolidated P&L
CONSOLIDATED P&L PLN million 1Q 2021 1Q 2020 change • Revenue increase resulting from higher sales volumes and higher Revenues 990,1 829,0 19% costs of raw materials. EBITDA 199,7 145,6 37% • EBITDA improvement in all EBITDA margin 20,2% 17,6% segments: EPS + PLN 15 million, EBIT 162,4 108,5 50% ASS
Slide 16: Cash Flow in the 1st Quarter
CASH FLOW IN THE 1st QUARTER Operating cash flow (PLN million) CAPEX (PLN million) 250 100 209 200 144 117 159 152 55 150 43 50 43 99 100 30 23 50 0 0 4Q 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 4Q 2019 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Cash flow in 1Q (PLN million) 250 • Decline in net de
Slide 17: Safe Level of Financial Indicators
SAFE LEVEL OF FINANCIAL INDICATORS Net debt (PLN million) and net debt/EBITDA ratio Debt maturity structure Debt currency structure 1000 1,3 1,4 short term EUR 1,2 1,2 38% 800 25% 1,0 0,8 0,8 600 0,7 0,8 400 0,5 0,6 703 641 460 562 511 0,4 PLN 200 322 0,2 long term 75% 0 0,0 62% 4Q 2019 1Q 2020 2Q 2
Slide 18: Summary – Prospects for the 2nd Quarter
SUMMARY – PROSPECTS FOR THE 2nd QUARTER MARKET OPERATIONS & FINANCE ENVIRONMENT CAPEX • STABLE DEMAND, • MAINTAINING HIGH • RECOMMENDATION OF THE ESTIMATED SALES CAPACITY UTILISATION MANAGEMENT BOARD WITH HIGHER BY APPROX. 10% WHILE ENSURING WORK A RECORD DIVIDEND FROM 1Q SAFETY PAYMENT (DECISION TO
Slide 19: Additional Information
ADDITIONAL INFORMATION 19
Slide 20: Additional Information
ADDITIONAL INFORMATION VOLUME SALES (‚000 tons) 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Extruded Products Segment 20,8 22,0 22,5 19,9 22,8 Flexible Packaging Segment 23,6 23,0 21,1 19,2 24,5 EBITDA per Segment (PLN million) 1Q 2020 2Q 2020 3Q 2020 4Q 2020 1Q 2021 Extruded Products Segment 37,3 43,4
Slide 21: Legal Note
Legal Note. This presentation has been prepared by Grupa Kęty S.A. only for informational purposes and it does not form a purchase or sale offer or an offer aiming at soliciting a purchase or sale offer as regards any securities or financial instruments, or the participation in any commercial undert