Frigoglass S.A.I.C. · ATHEX:FRIGO
Frigoglass S.A.I.C — Frigoglass — Hidden Riches of the Eastern Mediterranean Conference 2011
23 slides from Frigoglass S.A.I.C's conference presentation, Jun 20, 2011
Slide 1: Investor Presentation
www.frigoglass.com Hidden Riches of the Eastern Mediterranean Conference – London – June 20, 2011 Investor Presentation
Slide 2: What we do
www.frigoglass.com 2 Investor presentation What we do Ice Cold Merchandisers First Quarter 2011: Sales €109.8 million (81.4% of total revenues) Glass Operations First Quarter 2011: Sales €25 million (18.6% of total revenues)
Slide 3: Global presence
www.frigoglass.com 3 Investor presentation Global Cool operations Cool operations Cool operations Cool operations Cool operations Glass operations presence North America Western Europe Eastern Europe Asia Pacific Africa/Middle East Africa Production Production Production Production Production Produc
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: Consolidated Revenue Breakdown
www.frigoglass.com 5 Investor presentation Consolidated Revenue Breakdown Revenues by geography Revenue by customer 2010 Variance 2007 2010 Variance 2007 East Europe 131.4 -36% 206.0 Coca-Cola Hellenic 101.6 -32% 155.3 West Europe 72.3 -44% 130.0 Coca-Cola Bottlers 138.4 26% 113.3 Africa/Middle East
Slide 6: Operational and Financial Milestones
www.frigoglass.com 6 Investor presentation Operational and Financial Milestones • PET and vehicles operation divestment in 2006 • 2008 EBITDA excludes net restructuring charges of €2.9 million • SFA acquisition in Turkey in 2008 • 2008 Net Profit excludes net restructuring charges of • PET and TSG o
Slide 7: ICM Key Industry Features
www.frigoglass.com 7 Investor presentation ICM Key Industry Features Market Immediate Geographical Environment Tailwinds Consumption Diversification • Population increase • Most profitable channel for Beverage Companies • Expanded footprint, • GDP growth accommodates • Key industry priority • Furthe
Slide 8: First Quarter 2011 Highlights
www.frigoglass.com 8 Investor presentation First Quarter 2011 Highlights • Sales increased by 44.6% y-o-y in Q1, to €134.8 million, driven by both Cool and Glass Operations. • Sales at Cool Operations advanced by 40.2% in Q1, reflecting continuing momentum in Eastern Europe (+80.7%) and strong sales
Slide 9: First Quarter 2011 Financial Highlights
www.frigoglass.com 9 Investor presentation First Quarter 2011 Financial Highlights (in €m) 1Q10 1Q11 Y-o-Y % Sales 93.2 134.8 44.6% COGS 71.5 102.9 44.0% Gross Profit 21.8 31.9 46.6% Operational Expenses 12.6 15.7 24.3% EBIT 10.0 16.5 65.5% Profit Before Tax 7.3 13.3 82.1% Taxes 1.8 3.3 81.0% Tax Ra
Slide 10: Balance Sheet
www.frigoglass.com 10 Investor presentation Balance Sheet (in €m) 1Q10 1Q11 Fixed Assets 205.3 201.4 Deferred Tax Assets 11.0 13.9 Other Long Term Receivables 1.5 0.7 Inventories 105.6 169.1 Trade Debtors 116.4 153.9 Other Debtors 37.1 35.2 Cash at bank & in hand 76.4 43.4 TOTAL ASSETS 553.3 617.6 D
Slide 11: Cash Flow
www.frigoglass.com 11 Investor presentation Cash Flow (in €m) 1Q10 1Q11 Cash Generated 13.7 20.4 +48.5% Working Capital Movement -59.6 -103.5 Net Cash Flow from Operations -45.8 -83.1 Net Cash Flow from Investment Activities -6.2 -4.5 Free Cash Flow -52.0 -87.7 Increase in Bank Loans 81.7 54.7 Divid
Slide 12: Cool Operations
www.frigoglass.com Investor presentation Cool Operations
Slide 13: Cool operations (Ice cold merchandisers)
www.frigoglass.com 13 Investor presentation Cool operations (Ice cold merchandisers) ICMs are an integral part of the strategy of beverage companies to increase Immediate Consumption across different trade channels
Slide 14: Cool Operations First Quarter 2011 Highlights
www.frigoglass.com 14 Investor presentation Cool Operations First Quarter 2011 Highlights • Cool Operations Revenue advanced by 40.2% in Q1 to €109.8 million, driven by strong performance in Eastern and Western Europe. • Sales in Eastern Europe continued to demonstrate strong momentum, growing by 80
Slide 15: Cool Operations Revenue Breakdown
www.frigoglass.com 15 Investor presentation Cool Operations Revenue Breakdown Revenue by Geography Revenue by Customer 1Q11 1Q10 Y-o-Y % 1Q11 1Q10 Y-o-Y % Eastern Europe 42.7 23.6 80.7% Coca-Cola Hellenic 33.9 9.9 242.0% Western Europe 26.7 14.3 86.2% Coca-Cola Bottlers 36.3 35.3 3.0% Africa / Middl
Slide 16: Cool Operations First Quarter 2011 Financial Highlights
www.frigoglass.com 16 Investor presentation Cool Operations First Quarter 2011 Financial Highlights (in €m) 1Q10 1Q11 Y-o-Y % Sales 78.3 109.8 40.2% EBIT 7.0 11.9 71.0% Net Profit 3.0 6.8 125.9% EBITDA 10.9 15.7 45.0%
Slide 17: Greenovation: working together with our customers
www.frigoglass.com 17 Investor presentation Ecocool The first 25% of complete range European of sales in environmentally 2010 friendly coolers Efficient Eco-Life Natural Design Eco- Energy cycle Refrigerants Energy- Production Mgmt Compatibility Hydrocarbons efficient HFC-free System up with & Carbo
Slide 18: Glass Operations
www.frigoglass.com Investor presentation Glass Operations
Slide 19: Glass Operations
www.frigoglass.com 19 Investor presentation Glass Operations Glass bottles are the most important packaging form in Western Africa. Frigoglass offers a complete solution with the production of Metal Crowns and Plastic Crates
Slide 20: Glass Operations Financial Highlights
www.frigoglass.com 20 Investor presentation Glass Operations Financial Highlights • Glass Operations Sales increased by 67.8% in Euro terms in Q1 to €25.0 million. • Glass Sales increased 96.6% in Q1 to €16.2 million, cycling a weak Q1 2009. Last year’s sales were impacted by the closure of one of t
Slide 21: Outlook
www.frigoglass.com 21 Investor presentation 2011 Outlook • We expect all regions to record sales growth during the year, with the highest incremental contribution from Western Europe. We also expect sales growth in Asia/Oceania and Africa/Middle East to return to growth in the upcoming quarters, at
Slide 22: Our Strategy
www.frigoglass.com 22 Investor presentation Our Strategy Sustainability Creating ICM geographic integration in Sustain growth of optimum Innovation expansion corporate Glass Operations platform for Strategy future growth Development of new bespoke products that drive customers’ Sales and Profits, Co
Slide 23: Thank You
www.frigoglass.com 23 Investor presentation Thank You For further information on Frigoglass please visit our website at: www.frigoglass.com or contact our Investor Relations Department Lillian Phillips, Head of Corporate Communications [email protected] John Stamatakos, Investor Relations Man
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