SIG Group AG · SIX:SIGN
SIG — H1 2022 Earnings Presentation
17 slides from SIG's earnings presentation, Jul 26, 2022
Slide 1: SIG Group AG H1 2022 Financial Results
SIG GROUP AG H1 2022 FINANCIAL RESULTS CEO SAMUEL SIGRIST CFO FRANK HERZOG 26 JULY 2022 H1 2022 FINANCIAL RESULTS
Slide 2: Disclaimer and Cautionary Statement
DISCLAIMER AND CAUTIONARY STATEMENT The information contained in this presentation is not for use within any country or Neither SIG nor any of its directors, officers, employees, agents, affiliates or advisers These alternative non-IFRS measures are presented as we believe that they and jurisdiction
Slide 3: H1 2022 Highlights
H1 2022 PROVING RESILIENCE HIGHLIGHTS IN VOLATILE ENVIRONMENT STRONG REVENUE GROWING ACQUISITIONS AND SUSTAINABILITY GROWTH GLOBALLY CONTRIBUTION FROM REFINANCING PRICE INCREASES ACROSS REGIONS Scholle IPN completion on Increasing on-site renewable Aseptic carton business 1 June 2022 energy in Germa
Slide 4: H1 2022 Key Figures
H1 2022 REVENUE GROWTH ADJ. EBITDA AHEAD KEY FIGURES OF PRIOR YEAR REVENUE ADJUSTED EBITDA ADJUSTED EBITDA ADJUSTED NET FREE CASH FLOW €1,142.6 MILLION MARGIN INCOME +12.4% €280.5 24.6% €115.0 €(9.4) REVENUE GROWTH AT MILLION (H1 2021: 27.3%) MILLION MILLION CONSTANT CURRENCY (H1 2021: €264.1m) (H1
Slide 5: Q2 2022 Key Figures
Q2 2022 GROWTH ACCELERATION KEY FIGURES IN Q2 2022 REVENUE ADJUSTED EBITDA ADJUSTED EBITDA ADJUSTED NET FREE CASH FLOW €645.9 MILLION MARGIN INCOME +17.9% €161.8 25.1% €74.4 €15.4 REVENUE GROWTH AT MILLION (Q2 2021: 28.4%) MILLION CONSTANT CURRENCY MILLION (Q2 2021: €146.2m) (Q2 2021: €57.6m) (Q2 20
Slide 6: Sustainability and Business Highlights H1 2022
BUSINESS HIGHLIGHTS H1 2022 NETHERLANDS BELGIUM NORTH AMERICA SIGNATURE EVO SUSTAINABILITY Lipton iced tea Olympia Dairy Copacker Leahy is first The world’s first adopts becomes the first to offer SIGNATURE aluminum-free full SIGNATURE FULL company in Belgium FULL BARRIER packaging barrier packaging
Slide 7: Europe Notable Growth
EUROPE NOTABLE GROWTH Volume growth: expanding reach and product diversification Volume performance driven by: NCSD1on-the-go consumption Continued expansion into plant-based alternatives Sales of sleeves to Russia discontinued in H2 Approximately 125bps of revenue growth impact Hochwald
Slide 8: Middle East and Africa Continued Momentum
MIDDLE EAST AND AFRICA CONTINUED MOMENTUM Robust performance across categories Ramp-up of 12 new fillers since end of Q2 2021 Ongoing recovery post COVID-19 Non-recurrence of drought in South Africa which affected H1 2021 Continued execution of liquid dairy expansion in one litre format A
Slide 9: Asia Pacific: South-East Asia and India Momentum
ASIA PACIFIC SOUTH-EAST ASIA AND INDIA MOMENTUM CHINA – COVID-19 lockdown disruptions SOUTH-EAST ASIA - 1 litre formats driving volume COVID-19 lockdown disruptions in April and May Strong volume growth in Indonesia, Malaysia and Thailand Customer restocking in June as restrictions eased: safe
Slide 10: Americas Solid Growth Against High 2021 Comparable
AMERICAS SOLID GROWTH AGAINST HIGH 2021 COMPARABLE Strong volume momentum From high level of past filler placements especially in Brazil Ongoing expansion in neighbouring countries to Brazil Strong bag-in-box sales in Q2 Construction of sleeves plant in Mexico on track for commercial product
Slide 11: Adjusted EBITDA Evolution Half Year 2022 and Q2 2022
ADJUSTED EBITDA EVOLUTION HALF YEAR 2022 AND Q2 2022 H1 2022 Q2 2022 € MILLION € MILLION 27.3%1 24.6%1 28.4%1 25.1%1 54 -69 11 19 -15 -1 18 264 283 281 37 -13 11 4 14 -37 0 146 160 162 H1 2021 FX impacts FX adjusted Top line Raw Production SG&A Acquisitions Other H1 2022 Q2 2021 FX impacts FX adjust
Slide 12: H1 2022 Regional Summary Revenue and Adjusted EBITDA Performance
H1 2022 REGIONAL SUMMARY REVENUE AND ADJUSTED EBITDA PERFORMANCE €million EUROPE2 MEA3 APAC AMERICAS 2022 2021 2022 2021 2022 2021 2022 2021 REVENUE 376 357 155 101 367 331 243 174 ADJUSTED EBITDA 99 117 40 32 116 91 54 50 ADJUSTED EBITDA %1 26% 33% 26% 32% 32% 27% 22% 29% Regional margins reflect
Slide 13: Free Cash Flow Reflecting Seasonality
FREE CASH FLOW CASH GENERATION REFLECTING SEASONALITY WEIGHTED TO H2 €million H1 2022 H1 2021 2021A NET CASH FROM OPERATING ACTIVITIES 94 151 531 Acquisition of property, plant and equipment and intangible assets (net of sales) (87) (113) (246) Payment of lease liabilities (16) (13) (27) FREE CASH F
Slide 14: Capital Expenditure
CAPITAL CONTINUED INVESTMENT EXPENDITURE IN FILLERS €million H1 2022 H1 2021 2021A PROPERTY, PLANT & EQUIPMENT 36 29 93 GROSS FILLER CAPEX 70 84 153 UPFRONT CASH (71) (45) (103) NET FILLER CAPEX (1) 39 50 TOTAL NET CAPEX 35 68 143 PP&E investment includes new plant in Mexico Gross filler investm
Slide 15: Leverage and Financing
LEVERAGE AND FINANCING LEVERAGE GUIDANCE LONG TERM FINANCING SECURED TOWARDS 2x MID-TERM €million H1 20221 H1 2021 20212 GROSS DEBT 2’638 1’828 1’732 CASH 526 152 305 NET DEBT 2’111 1’676 1’428 NET LEVERAGE RATIO (LAST TWELVE MONTHS) 3.1x 2.9x 2.5x Long term acquisition financing implemented at at
Slide 16: 2022 Financial Guidance Unchanged
2022 FINANCIAL GUIDANCE MAINTAINING UNCHANGED GUIDANCE HEADLINE REVENUE GROWTH (constant currency) 22–24% ADJ. EBITDA MARGIN AROUND 26% EFFECTIVE TAX RATE 26–28%1 NET CAPEX (% REVENUE) 7-9% DIVIDEND PAYOUT RATIO (of adjusted net income) 50-60% 1Represents management’s estimated adjusted effective ta
Slide 17: Thank You
THANK YOU 26 JULY 2022