F I L A Fabbrica Italiana Lapis ed Affini S p A : FILA 9M 2021 Results Presentation

9M 2021 FILA Group Results

Disclaimer

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9M 2021 Highlights

• Adjusted Core Business Sales of 496,5 mln €, +5,3% (+25,2mln €) on the same period of the previous year (471,3mln € in 9M 2020); +8,9% at comparable FX rates (+42,0mln €). School&Office +12,2%, Fine Art +2,3% and Industrial +10,4% vs 9M 2020.
• Adjusted EBITDA, excluding IFRS 16 impact, of 91,0mln €, +16,6% (+12,9mln €) on the same period of the previous year (78,0mln € in 9M 2020); +19,1% at comparable FX rates (+14,9mln €), mainly related to Europe and North America performance;
• Adjusted EBITDA margin at 18,3% (16,6% in 9M 2020) due to better operating margin related to the growth in School&Office sales in Europe and North America, Fine Art growth, better Sale Price/Mix and good operating cost management compared to 9M 2020;
• COVID-19impacts on India and Mexico Sales (+11,1mln € vs 9M 2020 but -36,2mln € vs 9M 2019) and EBITDA (-0,3mln € vs 9M 2020 and -8,0 mln € vs 9M 2019), including FX rates effects;
• Adjusted Net Result of 39,7mln € with a strong improvement respect to 21,5mln € in 9M 2020 (+84,8%);
• Net Bank Debt of 389,4mln € (396,1mln € as at 31 December 2020 and 470,3mln € as at 30 September 2020) with a decrease in last twelve months of 80,9mln €, including negative FX effect of approx. -2,7mln €;
• "Free Cash Flow to Equity" at +21,4mln €, better than 9m 2020 (-38,0mln €) for EBIT growth and NWC improvement.

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9M 2021 Highlights

For a better analysis of 9M 2021 results, hereunder the comparison of the last three years, considering the Covid 19 impacts on 9M 2020 and 9M 2021 (FX effects included).

(€ million)		9M 2019A		9M 2020A		9M 2021A
Core Business Sales Adjusted	535,9	471,3	496,5
Ebitda Adjusted (excluded IFRS16)	88,2	78,1	91,0
Ebitda Margin %	16,5%	16,6%	18,3%

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9M 2021 Core Business Sales

(€ million)

+25,2mln€

+5,3%

496,5

471,3

9M 2020A		Adjusted	9M 2021A

• Adjusted Core Business Sales of 496,5mln €, +5,3% on the same period of the previous year; +8,9% (+42,0mln €) at comparable FX rates of which:
• • By Geographic Area: Europe +23,0mln € (+14,4%), Centre & South America +10,3mln € (+47,4%), Asia +8,1mln € (+21,3%), Other Countries +0,5mln € (+23,3%), North America +0,1mln € (+0,03%);
  • By Product line: School & Office +36,8mln € (+12,2%), Fine Art, Hobby & Digital +3,5mln € (+2,3%), Industrial +1,7mln € (+10,4%).
  • 0,2mln € adjustment in 9M 2021 due to customer claims for Covid- 19; 0,2mln € adjustment in 9M 2020 mainly due to customer claims for Covid-19.

F.I.L.A.- Arches S.A.S. consolidated in FY 2020 since the month of March.

(€ million)

Dixon (Mexico)

DOMS Industries PVT Ltd (India) Total 3rd Parties Sales

9M 2019A		9M 2020A		9M 2021A
34,5	12,1	18,4
53,6	28,7	33,5
88,1	40,8	51,9

Data in millions of euros; for precise data refer to 9M FILA financial report

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