Q1 2021 Results - Investor call
Milan, 29 April 2021
AGENDA
- Q1 2021 Financial Results
- Final Remarks
Michele Bianchi - CEO | Luca Rizzo - CFO |
2
Q1 2021 AT A GLANCE
The inflation of the paper for recycling affects the Group marginality in the ST
La Rochette reclassified as asset held for sale
Demand in WLC (-0.9%)
Increase in RDM volumes (+2.8%)
Decrease in selling prices in Q1 2021 compared to Q1 2020
Significant surge in paper for recycling prices & higher cost of energy
Solid market position
Two subsequent price increases announced in January and
March 2021
Lower spread
Time mismatch between the increase in the price of recycled fibers and the implementation of higher selling prices currently underway
RDM Barcelona Cartonboard
Lower contribution from IBE market mainly due to challenging
business conditions
EBITDA margin at 8.2%
(vs. 11.7% in Q1 2020)
Decrease in NET PROFIT -48.1%
(€4.9m vs. €9.4 in Q1 2020)
NFP turning positive
(from net debt at €8.9m at December 31, 2020 to cash positive at €4.9m at March 31, 2021)
3
HIGHLIGHTS*
+19.4% | +82.2% |
+66.6%
*2019-2020ROCE included the write-down of the fixed assets of La Rochette mill for | *NFP as 31 March 2021 includes €15.2m liabilities due to the adoption of the new |
€13.2m. Without these write-downs, ROCE would have been 17.56% at December 31, | IFRS 16 "Leases". |
2020 and 13% at December 31, 2019. |
*SALES, EBITDA and ROCE at March 31, 2021 include the WCL segment alone, as R.D.M. La Rochette S.A.S. was classified as "Asset held for sale" in accordance with IFRS 5, and its operating results were recognized under | 4 |
"Discontinued operations" in the Group's Consolidated Income Statement at March 31, 2021. |
SALES AND EBITDA*
+1.8%
-28.3%
+
_
+
_
_
The increase in SALES (+1.8%) is due to : Increase in tons sold in WLC (+2.8%);
Reductions in selling prices compared to Q1 2020.
Lower EBITDA margin (8.2% in Q1 2021 compared to 11.7% in Q1 2020) reflects the following drivers:
Increase in SALES (+1.8%);
Significant surge in the costs of fibers;
Increase in energy costs compared with Q1 2020.
*SALES and EBITDA include the WCL segment alone, as R.D.M. La Rochette S.A.S. was classified as "Asset held for sale" in accordance with IFRS 5, and its operating results were recognized under "Discontinued operations" in the
Group's Consolidated Income Statement at March 31, 2021. Accordingly, the figures at March 31, 2021 as well were restated to make them comparable with those at March 31, 2020. | 5 |
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Reno De Medici S.p.A. published this content on 29 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 April 2021 15:17:06 UTC.