F I L A Fabbrica Italiana Lapis ed Affini S p A : FILA H1 2021 Results Presentation

H1 2021 FILA Group Results

Disclaimer

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H1 2021 Highlights

• Adjusted Core Business Sales of 324,7 mln €, +5,6% (+17,1mln €) on the same period of the previous year (307,6mln € in H1 2020); +11,1% at comparable FX rates (+34,2mln €), Fine Art + 13%, School&Office +9,4% and Industrial +28,6% vs H1 2020;
• Adjusted EBITDA, excluding IFRS 16 impact, of 58,5mln €, +26,8% (+12,4mln €) on the same period of the previous year (46,2mln € in H1 2020); +30,8% at comparable FX rates (+14,2mln €), mainly related to Europe and North America performance;
• EBITDA margin at 18% (15% in H1 2020) due to better operating margin related to the continuous Fine Art growth, to the strong recovery in School&Office sales in Europe and North America and to a better Sale Price/Mix compared to H1 2020;
• COVID-19impacts on India and Mexico Sales (+1,3mln € vs H1 2020 but -21,3mln € vs H1 2019) and EBITDA (-2,4mln € vs H1 2020 and -5,3 mln € vs H1 2019), including FX rates effects;
• Adjusted Net Result of 26,6mln € with a strong improvement vs H1 2020 (+9,5mln € in H1 2020);
• Net Bank Debt of 425,5mln € (396,1mln € as at 31 December 2020 and 503,9mln € as at 30 June 2020) with a decrease in last twelve months of 78,4mln € including positive FX effect of approx. 11mln €;
• "Free Cash Flow to Equity" at -17,4mln € due to business seasonality impact, better than H1 2020 (-62,9mln €).

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H1 2021 Highlights

For a better analysis of H1 2021 results, hereunder the comparison of the last three years, considering the Covid 19 impacts on H1 2020 and H1 2021 (FX effects included).

(€ million)		H1 2019A		H1 2020A		H1 2021A
Core Business Sales Adjusted	350,7	307,6	324,7
Ebitda Adjusted (excluded IFRS16)	58,2	46,2	58,5
Ebitda Margin %	16,6%	15,0%	18,0%

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H1 2021 Core Business Sales

(€ million)

+17,1mln€

+5,6%

307,6324,7

H1 2020A		Adjusted	H1 2021A

• Adjusted Core Business Sales of 324,7mln €, +5,6% on the same period of the previous year; +11,1% (+34,2mln €) at comparable FX rates of which:
• • By Geographic Area: Europe +22,1mln € (+22,1%), Centre & South America +6,8mln € (+39,8%), North America +4,1mln € (+2,5%), Asia +0,9mln € (+3,4%), Other Countries +0,3mln € (+23,7%);
  • By Product line: School & Office +19,1mln € (+9,4%), Fine Art, Hobby & Digital +12,5mln € (+13,0%), Industrial +2,6mln € (+28,6%).
  • 0,2mln € adjustment in H1 2021 due to customer claims for Covid- 19; 0,1mln € adjustment in H1 2020 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)		H1 2019A		H1 2020A		H1 2021A
Dixon (Mexico)	19,4	10,6	14,0
DOMS Industries PVT Ltd (India)	35,0	21,2	19,1
Total 3rd Parties Sales		54,4		31,8		33,1

Data in millions of euros; for precise data refer to 6M FILA financial report

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