Ad Plastik D.d. · ZSE:ADPL
Ad Plastik D.d — FY2024 and Q1 2025 Earnings Presentation
26 slides from Ad Plastik D.d's earnings presentation, April 2025
Slide 1: Results for 2024 and the First Quarter of 2025
RESULTS FOR 2024 AND THE FIRST QUARTER OF 2025
Slide 2: Contents
A B C D CONTENTS A REVIEW OF 2024 3 B FINANCIAL RESULTS 2024 9 C MAIN FEATURES AND FINANCIAL RESULTS Q1 2025 16 D EXPECTATIONS 24 www.adplastik.hr • 2
Slide 3: Review of 2024
REVIEW OF 2024 MAIN FEATURES 2024 4 SUSTAINABILITY INDICATORS IN 2024 THE MOST IMPORTANT DEVELOPMENT PROJECTS IN 2024 THE NEWLY REGISTERED CAR MARKET 5 7 8 A www.adplastik.hr • 3
Slide 4: Main Features 2024
SEALED DEALS WORTH EUR 54.8 MILLION START OF SERIAL DELEVERAGING PRODUCTION MAIN FEATURES 2024 REVENUE GROWTH IMPACT OF EAPS (TOOL EFFECT) PROFITABILITY GROWTH www.adplastik.hr • 4
Slide 5: Sustainability Indicators in 2024
SUSTAINABILITY INDICATORS IN 2024 SHARE OF WOMEN 2024 vs 2023 Δ ELECTRICITY -2.1% TOTAL EMPLOYEES 50.1% WATER CONSUMPTION -7.3% WATER DISCHARGE -7.4% MANAGEMENT 39.3% PROPORTION OF RECYCLED +46.0% MATERIAL TOP MANAGEMENT LEVEL 40.0% WASTE RECYCLING +101.5% INJURY RATE -22.3% www.adplastik.hr • 5
Slide 6: Sustainability Indicators in 2024
SUSTAINABILITY INDICATORS IN 2024 464 POINTS ALL EUROPEAN PRODUCTION SITES C 73 87.63 89% B ESG SCORE 2023 www.adplastik.hr • 6
Slide 7: The Most Important Projects in 2024
THE MOST IMPORTANT PROJECTS IN 2024 DEVELOPMENT AND MANUFACTURING SUPPLIER ▪ BUMPERS ▪ SPOILERS 7 14 ▪ ▪ FRONT GRILLES ROOF RAILS NEW ACTIVE www.adplastik.hr • 7
Slide 8: The Newly Registered Car Market
THE NEWLY REGISTERED CAR MARKET ▪ 33.3% GASOLINE EU ▪ 30.9% HYBRIDS (HEV) MARKET EU ▪ 13.6% BATTERY ELECTRIC VEHICLES (BEV) ▪ 11.9% DIESEL ▪ 7.1% PLUG-IN HYBRID ELECTRIC VEHICLES (PHEV) 10.6 M ▪ 3.1% OTHER ( ∆ +0,8% ) www.adplastik.hr • 8
Slide 9: Financial Results 2024
FINANCIAL RESULTS 2024 OPERATING REVENUE 10 EBITDA 11 NET PROFIT NET FINANCIAL DEBT INVESTMENTS 12 13 14 B AFFILIATED COMPANY EAPS (JV) 15 www.adplastik.hr • 9
Slide 10: Operating Revenue
OPERATING REVENUE REVENUE (M€) Δ +17.9% 0 20 40 60 80 100 120 140 160 AD PLASTIK 2024 152,4 EFFECT ON REVENUE GROUP 2023 129,3 ▪ NEW PROJECTS (TOOLS) REVENUE (M€) Δ +22.9% ▪ ORDER GROWTH AD PLASTIK 2024 116,0 D.D. 2023 94,5 www.adplastik.hr • 10
Slide 11: EBITDA
EBITDA EBITDA (M€) EBITDA MARGIN 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% EFFECT ON EBITDA 8,8% AD PLASTIK 2024 5,6% 13,4 ▪ REVENUE GROWTH GROUP 2023 7,2 ▪ BETTER CAPACITY UTILIZATION 6,6% ▪ PROFITABILITY OF NEW AD PLASTIK 2024 3,6% 7,7 PROJECTS D.D. 2023 3,4 ▪ INDUSTRIALIZATION COSTS 0 1 2 3 4 5 6 7
Slide 12: Net Profit
NET PROFIT NET PROFIT (M€) NET PROFIT MARGIN EFFECT ON -2% -1% 0% 1% 2% 3% 4% NET PROFIT 1,4% AD PLASTIK 2024 2,1 -1,0% ▪ HIGHER EBITDA GROUP 2023-1,3 ▪ NEGATIVE EXCHANGE RATE 0,3% DIFFERENCES AD PLASTIK 2024 0,4 1,1% ▪ PROFIT AND DIVIDEND OF EAPS D.D. 2023 1,0 ▪ IMPAIRMENT OF INVESTMENT -1,5 -1,0 -
Slide 13: Net Financial Debt
NET FINANCIAL DEBT NFD (M€) Δ -12.1% 20 25 30 35 40 45 50 AD PLASTIK 2024 40,4 EFFECT ON DEBT GROUP 2023 45,9 ▪ TOOL COLLECTION NFD (M€) Δ -14.4% ▪ WORKING CAPITAL AD PLASTIK 2024 37,6 D.D. 2023 43,9 www.adplastik.hr • 13
Slide 14: Investments
INVESTMENTS 2021 2022 2023 2024 CAPACITY UTILIZATION 10.2 6.9 8.9 12.9 63% million € million € million € million € EU + SERBIA www.adplastik.hr • 14
Slide 15: Affiliated Company EAPS (JV)
AFFILIATED COMPANY EAPS (JV) 130.3 M€ REVENUE MODEL CHANGE IN SERIAL 9.9 M€ EBITDA ▪ PRODUCTION 7.6 % EBITDA MARGIN ▪ INDUSTRIALIZATION COSTS 6.2 M€ NET PROFIT ▪ RENOVATION OF MACHINE PARK 4.3 M€ CAPEX www.adplastik.hr • 15
Slide 16: Main Features and Financial Results Q1 2025
MAIN FEATURES AND FINANCIAL RESULTS Q1 2025 MAIN FEATURES Q1 2025 17 THE NEWLY REGISTERED CAR MARKET 18 C OPERATING REVENUE 19 EBITDA 20 NET PROFIT 21 NET FINANCIAL DEBT 22 AFFILIATED COMPANY EAPS (JV) 23 www.adplastik.hr • 16
Slide 17: Main Features Q1 2025
EXPECTED LOWER TOOL REVENUE INCREASED DELEVERAGING AND CAPACITY RESTRUCTURING MAIN UTILIZATION FEATURES NEW DEALS Q1 2025 PROFITABILITY 126.8 M GROWTH POSITIVE EXCHANGE RATE DIFFERENCES AND EFFECTS OF EAPS www.adplastik.hr • 17
Slide 18: The Newly Registered Car Market
THE NEWLY REGISTERED CAR MARKET ▪ 28.7% GASOLINE EU ▪ 35.5% HYBRIDS (HEV) MARKET EU ▪ 9.5% DIESEL ▪ 15.2% BATTERY ELECTRIC VEHICLES (BEV) ▪ 7.6% PLUG-IN HYBRID ELECTRIC VEHICLES (PHEV) 2.7 M ▪ 3.4% OTHER ( ∆ -1.9% ) www.adplastik.hr • 18
Slide 19: Operating Revenue
OPERATING REVENUE REVENUE (M€) Δ -16.9% 0 5 10 15 20 25 30 35 40 45 AD PLASTIK Q1 2025 35,2 EFFECT ON REVENUE GROUP Q1 2024 42,4 ▪ EFFECT OF TOOLS IN 2023 REVENUE (M€) Δ -22.4% ▪ GROWTH IN REVENUE FROM SERIAL PRODUCTION AD PLASTIK Q1 2025 26,5 D.D. Q1 2024 34,2 www.adplastik.hr • 19
Slide 20: EBITDA
EBITDA EBITDA (M€) EBITDA MARGIN 0% 5% 10% 15% 20% 12,5% EFFECT ON EBITDA AD PLASTIK Q1 2025 8,7% 4,4 GROUP Q1 2024 3,7 ▪ PROFITABILITY OF NEW PROJECTS 10,9% ▪ INCREASED CAPACITY AD PLASTIK Q1 2025 8,2% 2,9 UTILIZATION D.D. Q1 2024 2,8 0,0 0,5 1,0 1,5 2,0 2,5 3,0 3,5 4,0 4,5 www.adplastik.hr • 20
Slide 21: Net Profit
NET PROFIT NET PROFIT (M€) NET PROFIT MARGIN 0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% EFFECT ON NET 11,3% AD PLASTIK Q1 2025 4,0 PROFIT 2,5% GROUP Q1 2024 1,1 ▪ EBITDA-RELATED EFFECTS 3,8% ▪ EXCHANGE RATE AD PLASTIK Q1 2025 2,5% 1,0 DIFFERENCES D.D. Q1 2024 0,9 ▪ EFFECTS OF EAPS 0,0 0,5 1,0 1,5 2,0 2,
Slide 22: Net Financial Debt
NET FINANCIAL DEBT NFD (M€) Δ -2.7% 0 5 10 15 20 25 30 35 40 45 AD PLASTIK Q1 2025 39,2 EFFECT ON DEBT GROUP 2024 40,3 ▪ RESTRUCTURING NFD (M€) Δ -3.5% ▪ REGULAR REPAYMENT OF EXISTING DEBT AD PLASTIK Q1 2025 36,3 D.D. 2024 37,6 www.adplastik.hr • 22
Slide 23: Affiliated Company EAPS (JV)
AFFILIATED COMPANY EAPS (JV) 42.4 M€ REVENUE ▪ EFFECT OF FULL PRODUCTION 6.3 M€ EBITDA VOLUMES ▪ HIGH LEVEL OF CAPACITY 14.9 % EBITDA MARGIN UTILIZATION 4.4 M€ NET PROFIT ▪ HIGH PROFITABILITY OF NEW VEHICLES 0.2 M€ CAPEX www.adplastik.hr • 23
Slide 24: Expectations
EXPECTATIONS D EXPECTATIONS 25 QUESTIONS AND ANSWERS 26 www.adplastik.hr • 24
Slide 25: Expectations
EXPECTATIONS REVENUE GROWTH EBITDA CAPEX (FROM OWN PRODUCTS) MARGIN PITANJA I ODGOVORI IN THE NEXT 6% 5 mil.€ 12 % THREE YEARS ANNUALLY www.adplastik.hr • 25
Slide 26: Questions and Answers
QUESTIONS AND ANSWERS www.adplastik.hr • 26
Ad Plastik d.d. — FY2024 and Q1 2025 Earnings Presentation on 6ix