Frigoglass S.a.i.c. · ATHEX:FRIGO

Frigoglass S.a.i.c — Frigoglass — Q1 2014 Earnings Presentation

12 slides from Frigoglass S.a.i.c's earnings presentation, May 8, 2014

  1. Slide 1: First quarter 2014 results

    First quarter 2014 results Torsten Tuerling │Chief Executive Officer Nikos Mamoulis │Chief Financial Officer May 8, 2014

  2. Slide 2: Key messages for the first quarter

    Key messages for the first quarter  Emerging markets weakness impacts customers’ investments  Strong demand from breweries in Europe  Continued cost reduction initiatives  EBITDA margin decline of 150bps on adverse raw material cost impact in Glass  Strong execution on Inventory reduction First

  3. Slide 3: Significant lower sales in Asia; solid Glass performance

    Significant lower sales in Asia; solid Glass performance Group sales by Geography (in €m) Europe & N. America Asia Africa 54 53 45 43 42 5 28 27 29 54 53 4 40 24 15 14 1Q13 1Q14 1Q13 1Q14 1Q13 1Q14 ICM Glass First quarter 2014 results 3 May 8, 2014

  4. Slide 4: €34m lower sales from Coca-Cola bottlers; brewers higher

    €34m lower sales from Coca-Cola bottlers; brewers higher 1Q13 Group sales customer mix 1Q14 Group sales customer mix All Other Coca-Cola All Other €32m Bottlers €34m Coca-Cola €41m Bottlers Breweries €75m €34m Breweries €49m 1Q13 1Q14 €141m €124m First quarter 2014 results 4 May 8, 2014

  5. Slide 5: India fire incident

    India fire incident  Significant damage in warehouses, Production space less affected  No major injuries  Insurance policies in place  Recovery plan fully activated  Strong support from customers  Resume production shortly First quarter 2014 results 5 May 8, 2014

  6. Slide 6: Financial review

    Financial review First quarter 2014 results 6 May 8, 2014

  7. Slide 7: Financial performance overview

    Financial performance overview 1Q14 1Q13 Ch. Group Sales 124.2 140.6 -11.6% EBITDA 16.1 20.3 -20.7% Margin % 12.9% 14.4% -1.5pp Net Profit -3.4 3.6 n.m. Cool Operations Sales 91.1 108.5 -16.0% EBITDA 9.2 11.8 -21.9% Margin % 10.1% 10.8% -0.7pp Glass Operations Sales 33.1 32.1 3.1% EBITDA 6.9 8.5 -18

  8. Slide 8: Operating expenses down y-o-y in line with sales

    Operating expenses down y-o-y in line with sales 1Q14 1Q13 Ch. Sales (€ m) 124.2 140.6 -12% Gross Profit* (€ m) 28.7 34.2 -16% Margin % 23.1% 24.3% -1.2pp Operating Expenses* (€ m) 12.9 14.6 -12% as % of sales 10.4% 10.4% 0.0pp Phto on BBH Russia? *Excluding depreciation charges First quarter 2014 r

  9. Slide 9: Inventory reduction & working capital improvement

    Inventory reduction & working capital improvement Inventory (in €m) Working Capital (in €m) 156 217 192 124 1Q13 1Q13 1Q14 1Q14 1Q13 1Q13 1Q14 1Q14 Net Debt (in €m) Capex (in €m) 292 276 3 2 1Q13 1Q13 1Q14 1Q14 1Q13 1Q13 1Q14 1Q14 First quarter 2014 results 9 May 8, 2014

  10. Slide 10: Business outlook

    Business outlook First quarter 2014 results 10 May 8, 2014

  11. Slide 11: Business outlook

    Business outlook Short-term challenges  Emerging markets volatility  Uncertainty about Ukraine/Russia  Fire incident in India Mitigation actions  Grow service business in Europe  Strong value proposition in Africa  Rebuild India  Cost reduction & Fix dilutive entities  Continued inventory re

  12. Slide 12: For further information on Frigoglass, please visit our website

    For further information on Frigoglass, please visit our website at: www.frigoglass.com or contact: John Stamatakos Investor Relations Manager jstamatakos@frigoglass.com +30 210 61 65 767 Disclaimer This presentation contains forward-looking statements which are based on current expectations and assu

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