Ad Plastik D.d. · ZSE:ADPL
Ad Plastik D.d — Q1 2024 Earnings Presentation
26 slides from Ad Plastik D.d's earnings presentation, Dec 21, 2024
Slide 1: Results for 2023 and the First Quarter of 2024
RESULTS FOR AND THE FIRST QUARTER OF
Slide 2: Content
CONTENT 1 2023 REVIEW 2FINANCIAL RESULTS FORRESULTS 2023 3 MAIN FEATURES AND THE FIRSTAND FINANCIAL QUARTER OFRESULTS Q1 2024 4 EXPECTATIONS www.adplastik.hr • 2
Slide 3: 2023 Review
2023 REVIEW www.adplastik.hr • 3
Slide 4: Main Features 2023
MAIN FEATURES 2023 1 PREPARATION SEALED DEALS MARKET FOR SERIAL WORTH EUR 112 RECOVERY PRODUCTION MILLION CORRECTION OF RAW FINANCING OF SUPPLY CHAIN MATERIAL AND NEW PROJECTS NORMALIZATION ENERGY SOURCE PRICES www.adplastik.hr • 4
Slide 5: Important Events in 2023
IMPORTANT EVENTS IN 2023 1 IN THE CATEGORY FORD Q1 SUSTAINABLE CORPORATE THE BEST SUPPLIER GOVERNANCE FOR EASTERN EUROPE www.adplastik.hr • 5
Slide 6: Important Events in 2023
IMPORTANT EVENTS IN 2023 1 76 88.64 87% RATES 552 ALL EUROPEAN PRODUCTION SITES www.adplastik.hr • 6
Slide 7: The Most Important Development Projects in 2023
THE MOST IMPORTANT 1 DEVELOPMENT PROJECTS IN 2023 FOR THE FIRST TIME DEVELOPMENT SUPPLIER FOR A WELL-KNOWN CUSTOMER 9 NEW • WHEEL ARCH LINERS AND ROCKER CLADDINGS • DOOR TRIMS AND TRUNK SIDE TRIMS 30 • SPOILER ACTIVE www.adplastik.hr • 7
Slide 8: The Newly Registered Car Market
THE NEWLY REGISTERED CAR MARKET 1 7.7% 3.0% Plug-in hybrid electric Vehicles (PHEV) Other EU MARKET 13.6% 35.3% Diesel Gasoline 10.5 M 14.6% (+13.9%) Battery (BEV) 25.8% Hybrid electric vehicles (HEV) www.adplastik.hr • 8
Slide 9: Financial Results 2023
FINANCIAL RESULTS 2023 www.adplastik.hr • 9
Slide 10: Operating Revenue
OPERATING REVENUE 2 AD PLASTIK GROUP AD PLASTIK D.D. EFFECT ON REVENUE Revenue (M€) Revenue (M€) • SUPPLY CHAIN +17.4% +15.4% NORMALIZATION • ORDER GROWTH 140,0 129.3 140,0 120,0 110.1 120,0 • PRICE UPDATES 100,0 94.5 100,0 81.9 80,0 80,0 60,0 60,0 40,0 40,0 20,0 20,0 0,0 0,0 2022 2023 2022 2023 www
Slide 11: EBITDA
EBITDA 2 AD PLASTIK GROUP AD PLASTIK D.D. EFFECT ON EBITDA EBITDA (M€) EBITDA (M€) EBITDA margin EBITDA margin • REVENUE GROWTH • BETTER CAPACITY 8,0 20,0% 7.2 UTILIZATION 7,0 6,0 15,0% • CORRECTION OF RAW 5,0 MATERIAL AND ENERGY 4,0 3.4 10,0% SOURCE PRICES 3,0 5.6% • GROWTH IN THE COST 2,0 1.0 3.6%
Slide 12: Net Profit
NET PROFIT 2 AD PLASTIK GROUP AD PLASTIK D.D. EFFECT ON NET PROFIT Net profit (M€) Net profit (M€) Net profit margin Net profit margin • HIGHER EBITDA 2,0 1.0 4,0% 0,0 1.1% • VALUE ADJUSTMENT 0,0% IN 2022 -2,0 -1.0% -1.3 -4,0% -4,0 • NEGATIVE EXCHANGE -6,0 -8,0% RATE DIFFERENCES -8.8% -8,0 -12,0% •
Slide 13: Net Financial Debt
NET FINANCIAL DEBT 2 AD PLASTIK GROUP AD PLASTIK D.D. EFFECT ON DEBT NFD (M€) NFD (M€) +21.4% +30.6% • FINANCING OF 45.9 NEW PROJECTS 45,0 43.9 45,0 40,0 37.8 40,0 35,0 33.6 35,0 30,0 30,0 25,0 25,0 20,0 20,0 2022 2023 2022 2023 www.adplastik.hr • 13
Slide 14: Investments and Capacity Utilization
INVESTMENTS 2 20 20 20 20 CAPACITY 20 21 22 23 UTILIZATION EUR EUR EUR EUR 60% 8.9 10.2 6.9 8.9 EU + SERBIA million million million million www.adplastik.hr • 14
Slide 15: Affiliated Company EAPS (JV)
AFFILIATED COMPANY EAPS (JV) 2 REVENUE 100.2 M€ EBITDA 12.1 M€ EBITDA MARGIN 12.0% NET PROFIT 8.7 M€ • HIGH LEVEL OF CAPEX 9.1 M€ CAPACITY UTILIZATION • PREPARATION FOR NEW PROJECTS CASH ON ACCOUNT 11.3 M€ • RENOVATION OF MACHINE PARK www.adplastik.hr • 15
Slide 16: Main Features and Financial Results Q1 2024
MAIN FEATURES AND FINANCIAL RESULTS Q1 2024 www.adplastik.hr • 16
Slide 17: Main Features Q1 2024
MAIN FEATURES Q1 2024 3 GROWTH IN TOOL SALES EU CUSTOMER FOR NEW ORDERS PROJECTS FOCUS ON CAPACITY PROJECT UTILIZATION ACTIVITIES GROWTH www.adplastik.hr • 17
Slide 18: The Newly Registered Car Market
THE NEWLY REGISTERED CAR MARKET 3 7.4% 3.5% Plug-in hybrid electric vehicles (PHEV) Other EU MARKET 12.8% 35.4% Diesel Gasoline 2.8 M 12.0% (+4.4%) Battery (BEV) 28.9% Hybrid electric vehicles (HEV) www.adplastik.hr • 18
Slide 19: Operating Revenue
OPERATING REVENUE 3 AD PLASTIK GROUP AD PLASTIK D.D. EFFECT ON REVENUE Revenue (M€) Revenue (M€) • GROWTH IN +28.1% +34.6% CUSTOMER ORDERS 45,0 42.4 45,0 • TOOL SALES 40,0 40,0 FOR NEW PROJECTS 33.1 34.2 35,0 35,0 30,0 25.4 30,0 25,0 25,0 20,0 20,0 15,0 15,0 10,0 10,0 5,0 5,0 0,0 0,0 Q1 2023 Q1 2024
Slide 20: EBITDA
EBITDA 3 AD PLASTIK GROUP AD PLASTIK D.D. EFFECT ON EBITDA EBITDA (M€) EBITDA (M€) • REVENUE GROWTH EBITDA margin EBITDA margin • TOOL EFFECT 4,0 3.7 20,0% • INDUSTRIALIZATION 3,5 OF NEW PROJECTS 3,0 2.8 2.8 15,0% 2,5 2.2 8.7% 2,0 8.7% 10,0% 1,5 8.2% 8.5% 1,0 5,0% 0,5 0,0 0,0% Q1 2023 Q1 2024 Q1 202
Slide 21: Net Profit
NET PROFIT 3 AD PLASTIK GROUP AD PLASTIK D.D. EFFECT ON NET PROFIT Net profit (M€) Net profit (M€) • EBITDA-RELATED EFFECTS Net profit margin Net profit margin • LESS SHARE IN EAPS PROFIT 1,2 1.1 1,0 3,5% 0.9 0,8 0.7 2.5% 2.5% 2,5% 0,6 2.1% 0,4 1,5% 0.2 0,2 0.8% 0,0 0,5% Q1 2023 Q1 2024 Q1 2023 Q1 2
Slide 22: Net Financial Debt
NET FINANCIAL DEBT 3 AD PLASTIK GROUP AD PLASTIK D.D. EFFECT ON DEBT NFD (M€) NFD (M€) -0.9% -1.8% • FINANCING OF NEW PROJECTS 50,0 50,0 • REGULAR REPAYMENT 48,0 48,0 45.9 45.5 OF EXISTING DEBT 46,0 43.9 46,0 44,0 43.1 44,0 42,0 42,0 40,0 40,0 38,0 38,0 36,0 36,0 34,0 34,0 32,0 32,0 30,0 30,0 2023 Q
Slide 23: Affiliated Company EAPS (JV)
AFFILIATED COMPANY EAPS (JV) 3 REVENUE 25.5 M€ EBITDA 2.2 M€ EBITDA MARGIN 8.6% NET PROFIT 1.2 M€ • VEHICLE MODEL REPLACEMENT CAPEX 3.2 M€ • COSTS OF START OF PRODUCTION CASH ON ACCOUNT 8.1 M€ • EXPECTED REVENUE GROWTH www.adplastik.hr • 23
Slide 24: Expectations
EXPECTATIONS www.adplastik.hr • 24
Slide 25: Expectations
EXPECTATIONS 4 AVERAGE ANNUAL REVENUE GROWTH >10% IN THREE YEARS AVERAGE AVERAGE ANNUAL INVESTMENTS EBITDA MARGIN 10 m€ >10% www.adplastik.hr • 25
Slide 26: Questions & Answers
QUESTIONS & ANSWERS www.adplastik.hr • 26