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    AFP   CH0453226893

ALUFLEXPACK AG

(AFP)
  Report
Delayed Swiss Exchange  -  11:30 2022-12-05 am EST
18.30 CHF   -3.17%
11/02Aluflexpack : Q3 Earnings Release
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10/05Aluflexpack : Sustainability report 2021 is published!
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Aluflexpack : Half year 2022 results presentation

08/23/2022 | 01:48pm EST

Aluflexpack AG

H1 2022 Results Presentation

Disclaimer

The information contained in this presentation is not for use within any country or jurisdiction or by any persons where such use would constitute a violation of law. If this applies to you, you are not authorized to access or use any such information. The presentation may not be reproduced, published or transmitted, in whole or in part, directly or indirectly, to any person (whether within or outside such person's organization or firm) other than its intended recipients.

The attached information is not an offer to sell or a solicitation of an offer to purchase any security in the United States or elsewhere and shall not constitute an offer, solicitation or sale any securities of Aluflexpack AG (Aluflexpack, Group) in any state or jurisdiction in which, or to any person to whom such an offer, solicitation or sale would be unlawful nor shall it or any part of it form the basis of, or be relied on in connection with, any contract or investment decision. No securities may be offered or sold within the United States or to U.S. persons absent registration or an applicable exemption from registration requirements. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from any issuer of such securities and that will contain detailed information about us. Any failure to comply with the restrictions set out in this paragraph may constitute a violation of the securities laws of any such jurisdiction. This presentation is not an offering circular within the meaning of article 652a of the Swiss Code of Obligations, nor is it a listing prospectus within the meaning of the listing rules of the SIX Swiss Exchange or a prospectus under any other applicable laws.

This presentation may contain "forward-looking statements" that are based on our current expectations, assumptions, estimates and projections about us and our industry. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "may", "will", "should", "continue", "believe", "anticipate", "expect", "estimate", "intend", "project", "plan", "will likely continue", "will likely result", or words or phrases with similar meaning. Undue reliance should not be placed on such statements because, by their nature, forward-looking statements involve risks and uncertainties, including, without limitation, economic, competitive, governmental and technological factors outside of the control of Aluflexpack AG (Aluflexpack, Group), that may cause Aluflexpack's business, strategy or actual results to differ materially from the forward-looking statements (or from past results). Nothing contained in this presentation is or should be relied upon as a promise or representation as to the future. It is up to the recipient of the presentation to make its own assessment as to the validity of such forward- looking statements and assumptions.

The information contained in the presentation does not purport to be comprehensive. Aluflexpack undertakes no obligation to publicly update or revise any information contained herein or forward- looking statements, whether to reflect new information, future events or circumstances or otherwise. It should further be noted, that past performance is not a guide to future performance. Please also note that interim results are not necessarily indicative of the full-year results. Persons requiring advice should consult an independent adviser. Some financial information in this presentation has been rounded and, as a result, the figures shown as totals in this presentation may vary slightly from the exact arithmetic aggregation of the figures that precede them. While we are making great efforts to include accurate and up-to-date information, we make no representations or warranties, expressed or implied, and no reliance may be placed by any person as to the accuracy and completeness of the information provided in this presentation and we disclaim any liability for the use of it. Neither Aluflexpack nor any of its directors, officers, employees, agents, affiliates or advisers is under an obligation to update, correct or keep current the information contained in this presentation to which it relates or to provide the recipient of it with access to any additional information that may arise in connection with it and any opinions expressed in this presentation are subject to change.

In this presentation, we utilise certain alternative performance measures, including EBITDA, EBITDA before special effects, Operating Profit before special effects, organic growth, Working Capital ratio, and others that in each case are not recognized under International Financial Reporting Standards ("IFRS"). These non-IFRS measures are presented as we believe that they and similar measures are widely used in the markets in which we operate as a means of evaluating a company's operating performance and financing structure. They may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS or other generally accepted accounting principles, nor should they be considered as substitutes for the information contained in the financial statements included in this presentation. For a particular definition of any of the mentioned and non-mentioned alternative performance indicators please see either notes in this presentation or definitions in our H1 2022 report.

By receiving this Presentation, you agree to be bound by the foregoing limitations. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. This Presentation does not constitute investment, legal, accounting, regulatory, taxation or other advice.

THIS PRESENTATION IS NOT AN INVITATION TO PURCHASE SECURITIES OF ALUFLEXPACK AG OR THE GROUP.

2

Business & Financial Overview

Key highlights H1 2022

Solid performance despite challenging market environment

Strong operational

Dynamic cost

performance

development

Paved the way to

Higher costs for

historically high

materials, energy

growth in net

and other items

sales

weigh on

profitability

Diligent supply

chain

Continuous

management

measures to

ensured stability in

mitigate impact

an uncertain

of increased

environment

costs on our

business

Teko acquisition

Guidance raised

Strengthening of

Net sales of € 320

position in Turkey

-350m expected

and MENA region

(previously: € 310-

by acquisition of

330m)

80% of Teko

First progress on

EBITDA before

synergies already

SE anticipated

made

between € 39-44m

(previously € 35-

40m)

"3-WIN 2025"

strategy

Strategic roadmap until

2025 with emphasis on innovation and sustainability

Transformation to

solution-oriented

provider of flexible packaging and barrier solutions

4

Key figures H1 2022

Pricing effects supporting top line, profitability impacted by increased costs

Net sales

EBITDA before

SE (1)

EBITDA margin

before SE (1)

ROCE (2)

Leverage (3)

+30.2%

+27.0% organic growth

  • 165m
  • 127m

H1 2021 H1 2022

+13.6%

thanks to strong operational performance despite high cost inflation

24.3

21.4

17.3

H1

H1

H1

2020

2021

2022

220 bps

decrease as a result of higher costs

16.9%

15.0%14.7%

H1

H1

H1

2020

2021

2022

lower

due to significant increase of CE following major expansion in Drniš

11.7%

10.7%

9.4%

LTM LTM LTM 6/2020 6/2021 6/2022

increase

as a result of Teko acquisition, organic expansion and higher TWC

2.1x

0.5x

-0.2x

LTM LTM LTM 6/2020 6/2021 6/2022

Note(s): (1)

EBITDA before SE refers to EBITDA before special effects. A detailed reconciliation of the reported and adjusted figures can be found on slide 30 of this presentation.

(2)

ROCE stands for return on capital employed (CE) and refers to Adjusted EBIT for the last twelve months divided by capital employed, which is defined as average equity plus average net financial debt for the last twelve months.

5

(3)

Leverage defined as net debt divided by LTM EBITDA before SE and includes 2 months contribution of the newly acquired Turkish subsidiary Teko.

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Aluflexpack AG published this content on 23 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 23 August 2022 17:47:35 UTC.


ę Publicnow 2022
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Sales 2022 349 M 367 M 367 M
Net income 2022 9,30 M 9,77 M 9,77 M
Net Debt 2022 92,4 M 97,1 M 97,1 M
P/E ratio 2022 34,1x
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Capitalization 320 M 337 M 337 M
EV / Sales 2022 1,18x
EV / Sales 2023 1,03x
Nbr of Employees 1 462
Free-Float 42,7%
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Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 18,51 €
Average target price 25,02 €
Spread / Average Target 35,2%
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Johannes Steurer Chief Executive Officer
Lukas Kothbauer Chief Financial Officer
Martin Ohneberg Chairman
Jens Christian Lamprecht Head-Operations
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