Viscofan, S.a. · BME:VIS
Viscofan — 9M 2021 Earnings Presentation
14 slides from Viscofan's earnings presentation, Oct 28, 2021
Slide 1: January - September 2021 Results
e January - September 2021 Visc)fan Results The casing company 28 October 2021
Slide 2: Sound performance in the main financial figures driven by top line growth
Sound performance in the main financial figures driven by top line growth Revenue 245.6 EBITDA 64.1 EBITDA margin 26.1% Operating profit 46.2 Profit before taxes 47.3 Taxes -11.7 Net profit 35.6 +9.2% +7.2% 0.0 p.p. 412.3% +16.5% +15.6% +16.7% ‘Like-for-like: For comparative purposes, like-for-like
Slide 3: Maintaining volumes strength together with price mix and energy sales and forex
Maintaining volumes strength together with price mix, which in this quarter also had a positive contribution from energy sales and forex @ Quarterly revenue Growth contribution (p.p.) 7 3021 49.2% \_vs.3Q20 Like-for-like’ +0.3pp +1.5pp +1.0p.p. -0.2p.p. | | -4.0p.p. -7.5p, Like-for-like! Like-for-li
Slide 4: All-time high in quarterly revenue
All-time high in quarterly revenue y Hf Viscofan Group revenue 12020 ™ 2021 (€ million) os 2456 237.5 pao 228.4 222.1 ae) pa +9.2% vs. 3Q20, | 1Q 2Q 3Q 4Q awa . Wi Casing sales 12020 M2021 233.6 2316 227.6 — A186 57 216.3 217 a ~ #0 +8.0% vs. 3Q20. l 1Q 2Q 3Q 4Q C Energy sales 02020 02021 12.0 10.4
Slide 5: Like-for-like growth above the historical average supported by volume and price mix
Like-for-like growth above the historical average supported by volume and price mix offsetting an adverse forex environment in 9M21 9M21 revenue Growth contribution (€ million and p.p.) +58.9 $3.8 -23.2 ( 6719 +5.9% 9M21 vs. 9M20 +8.8 p.p. +0.6 p.p. -3.5 p.p. Like-for-like! Like-for-like? Forex casi
Slide 6: Like-for-like growth in all reporting areas driven by China, Southeast Asia and Europe
Like-for-like growth in all reporting areas driven by the strength in China, Southeast Asia, and the recovery in Europe @ 9M21 Revenue Breakdown by geographical area’ (€ million) €711.4 Mn VISCOFAN GROUP +9.9% r 9.3.) +10.4% la.) Like-for-like® vs. 9M20 1 Revenues per origin of sales. 2 Like-for-lik
Slide 7: Energy cost inflation is offset by operating leverage due to higher volumes
Energy cost inflation is offset by the operating leverage due to higher volumes, commercial discipline and production efficiencies ... m@P&L9M21 Energy and 417.4% Year-on-year change ' transportation costs inflation Inflation in energy +14.4% | and raw materials (polyamides and i 49.3% | other auxil
Slide 8: Leading to EBITDA growth and margin improvement in cumulative terms
...leading to EBITDA growth and margin improvement in cummulative terms @ EBITDA 9M21 Growth contribution (€ million and p.p.) +29.4MN -12.9MN “4aL070» 169.0 +9.8y 9M21 vs. 9M20 | Ya +17.4 p.p. -7.6 p.p. Like-for-like’ Forex 9M20 9M21 7 Like-for-like: For comparative purposes, like-for-like growth e
Slide 9: Quarterly EBITDA maintains an upward trend despite higher cost inflation
Quarterly EBITDA maintains an upward trend despite a context of higher cost inflation \ >) @ Quarterly EBITDA 12020 m 2021 @ Quarterly EBITDA 112020 mi 2021 Reported (€ million) Reported (in percentage) +9.2% 0.0p.p VS. 3Q20 VS. 3Q20 65.5 63.8 64.1 (> 27.2% 57.6 (583 380 26.9% a | 26.1% 26.1% “ ~- a
Slide 10: Operational improvements are carried through Net profit, which grows at double digit rate
Operational improvements are carried through Net profit, which grows at double digit rate @ EBIT TO NET PROFIT Reported (€ million) Reported EBIT 131.3 114.7 +14.4% Financial result +0.02 9 -98.8% Effective tax rate 24.6% 24.0% Taxes -31.5 -28.7 +9.8% ( ° Viscpfan January September 2021 rests
Slide 11: Solid cash generation strengthening the balance sheet and funding growth projects
Solid cash generation that allows Viscofan to continue strengthening its balance sheet and to have enough flexibility to carry out current and future growth projects @ Net bank debt! ™@ Capex 9M21 (€ million) (€ million) 38.2 Net cash ) iti 27.2 position : / / / © Collagen capacity 9M20 9M21 increas
Slide 12: To wrap-up
To wrap-up * Growth strength driven by the Asian continent and based on a unique business model that combines a wide technological range with global geographic positioning. ¢ Higher volumes, improvement in price mix, production efficiencies and cost control counteract an adverse inflation environmen
Slide 13: Appendix. Disclaimer
Vise) fan Appendix. Disclaimer This document may include statements about intentions, expectations or forecasts of the Company additional to the mandatory financial reporting whose sole purpose is to provide information more accurately about the perspectives of future behaviors. Such intentions, exp
Slide 14: Appendix. Alternative Performance Measures
Vise) fan Appendix. Alternative Performance Measures The Alternative Performance Measures included in this report are as follows: * The EBITDA, or operating profit before depreciation and amortization, is calculated excluding depreciation and amortization costs from the operating profit. The EBITDA