Frigoglass S.a.i.c. · ATHEX:FRIGO
Frigoglass S.a.i.c — Frigoglass — Oddo Midcap Forum 2012
22 slides from Frigoglass S.a.i.c's conference presentation, January 2012
Slide 1: Investor Presentation
www.frigoglass.com Oddo Midcap Forum – January 5 & 6, 2012 Investor Presentation
Slide 2: What we do
www.frigoglass.com 2 Investor presentation What we do Ice-Cold Merchandisers 9M11 Sales: €364.6 million (83% of total sales) Glass Operations 9M11 Sales: €73.9 million (17% of total sales)
Slide 3: Global presence
www.frigoglass.com 3 Investor presentation Global presence
Slide 4: Our History and Our investment proposition
www.frigoglass.com 4 Investor presentation Our History 1996 1999 2001 2007 Frigoglass is established Acquisition of Norcool; Acquisition of Husky in Greenfield plant at Frigoglass listed on the South Africa Guangzhou, China Athens Stock Exchange 2008 2009 2011 Acquisition of SFA in Acquisition of Un
Slide 5: ICM Key Industry Features
www.frigoglass.com 5 Investor presentation ICM Key Industry Features Market Immediate Geographical Environment Tailwinds Consumption Diversification • Population increase • Most profitable channel for • GDP growth • Expanded global beverage companies footprint, accommodating • Key industry priority
Slide 6: Third Quarter 2011 Highlights
www.frigoglass.com 6 Investor presentation Third Quarter 2011 Highlights • Consolidated sales increased by 4.9% to €116.1 million in the third quarter of 2011, cycling strong double digit growth in the comparable prior year period. • Sales at Cool Operations advanced by 1% to €88.6 million in Q3, cy
Slide 7: Nine Months 2011 Highlights
www.frigoglass.com 7 Investor presentation Nine Months 2011 Highlights • Consolidated sales increased by 26.5% in the nine months of the year, reaching €438.6 million. • Cool Operations led the way, with Sales advancing by 27% to €364.6 million, mainly driven by Eastern (+49.6%) and Western Europe (
Slide 8: Nine Months & Third Quarter 2011 Financial Highlights
www.frigoglass.com 8 Investor presentation Nine Months & Third Quarter 2011 Financial Highlights (in €m) 9M11 9M10 Y-o-Y % 3Q11 3Q10 Y-o-Y % Sales 438.6 346.6 26.5% 116.1 110.6 4.9% COGS 347.9 265.3 31.1% 96.1 85.6 12.4% Gross Profit 90.6 81.3 11.5% 19.9 25.1 -20.4% Operating Expenses 48.5 42.2 14.8
Slide 9: Balance Sheet
www.frigoglass.com 9 Investor presentation Balance Sheet (in €m) 9M11 9M10 Fixed Assets 242.3 201.5 Deferred Tax & Other LT Assets 14.5 13.6 Total Non-Current Assets 256.8 215.1 Inventories 162.8 113.1 Trade & Other Receivables 171.0 156.4 Cash & Cash Equivalents 57.9 45.0 Total Current Assets 391.7
Slide 10: Cash Flow
www.frigoglass.com 10 Investor presentation Cash Flow (in €m) 9M11 9M10 Cash Generated 66.8 60.7 Change in Working Capital -116.7 -90.4 Net Cash Flow from Operations -49.9 -29.7 Net Cash Flow from Investment Activities -23.8 -17.3 Free Cash Flow -73.6 -46.9 Increase in Bank Loans 58.7 69.1 Interest
Slide 11: Cool Operations
www.frigoglass.com Investor presentation Cool Operations
Slide 12: Cool Operations (Ice-cold merchandisers)
www.frigoglass.com 12 Investor presentation Cool Operations (Ice-cold merchandisers) ICMs facilitate beverage companies Immediate Consumption sales across different trade channels
Slide 13: Cool Operations Nine Months 2011 Highlights
www.frigoglass.com 13 Investor presentation Cool Operations Nine Months 2011 Highlights • Sales at Cool Operations increased by 27% to €364.6 million, following one of the strongest Q3 with growth across most customer segments and geographies. • Sales in Eastern Europe grew 49.6% to €149.4 million i
Slide 14: Cool Operations Revenue Breakdown
www.frigoglass.com 14 Investor presentation Cool Operations Revenue Breakdown Revenue by Geography Revenue by Customer (in €m) 9M11 9M10 Y-o-Y % (in €m) 9M11 9M10 Y-o-Y % Eastern Europe 149.4 99.9 49.6% Coca-Cola Hellenic 100.5 48.7 106.6% Western Europe 87.4 61.6 41.7% Coca-Cola Bottlers 103.7 111.
Slide 15: Cool Operations Nine Months & Third Quarter 2011 Financial Highlights
www.frigoglass.com 15 Investor presentation Cool Operations Nine Months & Third Quarter 2011 Financial Highlights (in €m) 9M11 9M10 Y-o-Y % 3Q11 3Q10 Y-o-Y % Sales 364.6 287.1 27.0% 88.6 87.7 1.0% EBIT 30.7 28.8 6.5% 3.4 5.8 -41.7% Net Profit 13.7 12.9 6.2% -0.2 2.0 n.m. EBITDA 43.4 40.5 7.2% 7.5 9.
Slide 16: 2010 Sustainability Report – Wins Gold Award from CCBPI
www.frigoglass.com 16 Investor presentation 2010 Sustainability Report – Wins Gold Award from CCBPI Frigoglass won the “Gold Frigoglass launched its Award for Best Supplier of Our updated 2010 Sustainability the Year” during the 2nd Sustainability Report Strategy is based on Coca-Cola Bottlers three
Slide 17: Glass Operations
www.frigoglass.com Investor presentation Glass Operations
Slide 18: Glass Operations
www.frigoglass.com 18 Investor presentation Glass Operations Frigoglass is one of the leading Glass Container manufacturers in West Africa and Middle East. The production of Metal Crowns and Plastic Crates offers a complete packaging solution.
Slide 19: Glass Operations Nine Months 2011 Financial Highlights
www.frigoglass.com 19 Investor presentation Glass Operations Nine Months 2011 Financial Highlights • Sales increased by 24.2% to €73.9 million, with Frigoglass Jebel Ali accounting for €8.1 million for the four months consolidation. • Sales relating to Glass (excl. Frigoglass Jebel Ali) advanced by
Slide 20: Outlook
www.frigoglass.com 20 Investor presentation 2011 Outlook • For the remainder of the year, we expect input cost inflation to continue to weigh on our profit margins. • In a challenging market environment, we expect Western Europe to continue its positive course and both Asia and Africa to demonstrate
Slide 21: Our Strategy
www.frigoglass.com 21 Investor 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’ Sales and P
Slide 22: Thank You
www.frigoglass.com 22 Investor 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 presentati