9M 2022 Results

October 24, 2022

Frédéric SIPAHI - CEO

Olivier PROUST - CFO

AGENDA

  • 9M 2022 Results
  • A resilient business model and a Sustainable Transformation
  • Market Outlook 2022

01

9M 2022 Results

9M 2022: Strong Results in an Unprecedented Market Scenario

Sales up thanks to market outperformance and benefiting of price increase related to pass-thought

Managing raw and energy price increase with pass-thought, indexation and internal efficiency actions to reduce energy intensity

Rapid cost base and organization adaptation to current market conditions thanks to execution of

strong structural actions

  • Despite of supply chain disruption, Covid, Russia/Ukraine and customer stop and go's'
  • Despite of huge material price and energy costs increase group defending margin / cash
  • The current unprecedented scenario (material shortage, lockdowns, customers/suppliers stop and go's) was faced with a more agile internal organization

4 I

Revenues at €1165.6m

vs 990.0m in 9M 2021

EBITDA at € 151.3m

vs €144.1m in 9M 2021

EBIT

Net Income

FCF1 at € 35.3m

vs €26.5m in 9M 2021

Net debt1 at € 219.7

vs € 258.2m Dec. 2021

1. FCF and Net debt excluding IFRS 16

9M 2022 Financial Highlights

  • +11.7% at constant exchange benefiting of price increase related to pass-thought and good Aftermarket performance, over performing the market (+7.5%)
  • Volume positive (+3.4%)
  • Contribution margin € 322.8m vs € 310.8m in 9M 2021
  • EBITDA excluding non-recurring: € 145.9 m€ vs € 133.2m in 9M 2021
  • Gross fixed costs substantially stable at € 175.0m vs € 170.0m in 9M 2021 with ratio to sales down from 17.2% to 15.0%
  • € 62.3m vs € 49.4m in 9M 2021 with higher growth in value excluding non recurring
  • (€ 56.8m vs € 40.3m)

Net income substantially up at € 34.2m vs € 24.3m in 9M 2021 excluding the accounting impact of Argentina disposal

Free Cash Flow positive at € 35.3m (€26.5m in 9M 2021) thanks to the positive operating results and a change in working capital less unfavorable than 9M 2021

Net debt of € 219.7m versus € 258.2m end of 2021 and € 267.4m end September 2021

5 I

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Sogefi S.p.A. published this content on 24 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 October 2022 06:39:03 UTC.