Aquafil Group
[ECNL:IM] - [ECNLF: OTCQX]
FY 2024 Financial Results
March 18, 2025
Key Messages
Sharp profitability growth
-
(FY24 +31% vs FY23)
Volumes increased - compared to FY23
- US market slower than expected
- Reduction in personnel costs
ECONYL® branded and regenerated
-
products increased to 55% of fibers revenues
Capital increase with option rights - successfully completed (raised approx. €40 mln.)
2
Financial Results
Revenues | EBITDA | Net profit | NFP | ||||||||||||
2024 | 2023 | Δ% | 2024 | 2023 | Δ% | 2024 | 2023 | Δ% | 31.12.24 | 31.12.23* | Δ% | ||||
FY | |||||||||||||||
542,1 | 571,8 | (5,2)% | 62,4 | 47,5 | 31,3 % | (16,3) | (25,8) | 36,9 % | 213,5 | 242,8 | (12,0)% | ||||
% on Revenues | 11,5% | 8,3% | (3,0)% | (4,5)% | |||||||||||
4Q | 126,1 | 129,6 | (2,7)% | 14,3 | 10,5 | 36,0 % | (7,5) | (8,8) | 14,2 % | ||||||
% on Revenues | 11,3% | 8,1% | (6,0)% | (6,8)% | |||||||||||
EMEA and Asia
Market in line
with expectation
USA
Slower market
ECONYL®
Ca. 55% of Fiber Revenues
Higher to FY 2023
Due to
personnel costs decrease
and
lower raw material and
utilities costs
Higher to FY 2023
Mainly
due to
EBITDA increase
Lower vs Dec. 23
NFP/EBITDA LTM
x5,11*
on 31st December 2023
x3,42
on 31st December 2024
*Including restatement
3
Financial
Results
Revenues Variation by Components
Volumes
(on First Grade Product Revenues) - Index 100
+6.9%
compared to FY 2023
FY 2023 | Volume | Price & Sales | FY 2024 |
Mix |
4
Financial Results | Quantity Variations %
(on First Grade Product Revenues)
EMEA
FY24 vs FY23 | 4Q24 vs 4Q23 |
Volumes +13,9% vs FY23 and +9,2% vs 4Q23:
- BCF in line with expectations
- NTF lower quantity sold due to slow market demand on FY
- Stronger growth for Polymers
USA
Volumes (5,2)% vs FY23 and (5,9)% vs 4Q23:
- Fibers market slower than expected
Asia
Volumes +5,8% vs FY23 and (0,7)% vs 4Q23:
- BCF in line with budget
5
Financial Results | Revenues Breakdown
% by Product Line
FY24 vs FY23 | 4Q24 vs 4Q23 |
Financial Results | Revenues Breakdown
% by Geographical Area
FY24 vs FY23 | 4Q24 vs 4Q23 |
7
Financial
Results
ECONYL® Revenues on fibers
54,8%
of FY24 fibers revenues from ECONYL® and other regenerated fibers
8
Financial
Results
P&L
KPI
FY
2024 | 2023 | Δ% | |
Revenues | 542,1 | 571,8 | (5,2)% |
EBITDA | 62,4 | 47,5 | 31,3 % |
% on net Sales | 11,5 % | 8,3% | |
EBIT | 3,3 | (8,9) | 137,5 % |
% on net Sales | 0,6% | (1,5)% | |
EBT | (17,6) | (26,0) | 32,3 % |
% on net Sales | (3,2)% | (4,5)% | |
NET RESULT | (16,3) | (25,8) | 36,9 % |
% on net Sales | (3,0)% | (4,5)% |
Data in € million
4Q
2024 2023 Δ%
126,1 129,6 (2,7)%
14,3 | 10,5 | 36,0 % |
11,3% | 8,1% | |
(0,6) | (4,5) | 87,1 % |
(0,5)% | (3,4)% | |
(7,3) | (11,1) | 34,5 % |
(5,8)% | (8,6)% | |
(7,5) | (8,8) | 14,2 % |
(6,0)% | (6,8)% |
9
Financial Results | Net Financial Position
NFP - €/milNFP/EBITDA
242,8
NFP on December 31, 2024: 213,5 €/mil vs 242,8* €/mil on December 31, 2023
5,11
213,5
Ratio NPF/EBITDA: x3,42 on December 31,
3,42
2024
31-dic-24 | 31-dic-23 | 31-dic-24 | 31-dic-23 | |||
*Including restatement | 10 |