CUMULATIVE RESULTS OF 1ST SEMESTER 2022

1st Semester 2022 Earnings Announcement

28 July 2022

Results of the 1st Semester 2022

Highlights

  • Turnover reaches 67.8 million euros, an increase of 36.8%compared to the previous year;
  • EBITDA of 11.2 million eurosrepresents an increase of 38.5%compared to the same period in 2021;
  • Negative net result of 77 thousand euros;
  • Consolidated net debt decreased 4.3 million eurosin the 1st semester of 2022 compared with 2021;
  • Foreign markets represent 77.4%of turnover;

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Vista Alegre Atlantis, SGPS, S.A. * Public company * Head office: Lugar da Vista Alegre, Ílhavo * Registered with the Commercial Registry of Ílhavo * Taxpayer no 500 978 654 * Share capital 134,120,048.00 Euros

1st Semester 2022 Earnings Announcement

28 July 2022

Activity

The first half of 2022 was marked by sharply rising energy prices (mainly the cost of natural gas), fuel and raw materials, due to the geopolitical situation resulting from the invasion of the Ukraine by the military forces of the Russian Federation in February.

In the first semester, Grupo Vista Alegre achieved a turnover of 67.8 million euros and an EBITDA of 11.2 million euros. Foreign markets represented 77.4% of Vista Alegre's turnover, with 52.5 million euros of sales.

The growth of revenues in the Earthenware and Stoneware segments are worth highlighting, representing an increase of 31% and 45%, respectively, in relation to the sales of the same period of the previous year.

Sales of Porcelain reached 21.6 million euros, representing an increase of 25% compared to the previous year.

T €

Porcelain and related products

21 612

17 265

25%

Earthenware

7 342

5 617

31%

Stoneware

31 832

21 916

45%

Crystal and Glass

7 057

4 788

47%

Total

67 842

49 587

37%

The Vista Alegre brand is increasingly recognized internationally, with the markets of Brazil, the United States of America, France and Spain the largest contributors to the sales of own brand products.

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Vista Alegre Atlantis, SGPS, S.A. * Public company * Head office: Lugar da Vista Alegre, Ílhavo * Registered with the Commercial Registry of Ílhavo * Taxpayer no 500 978 654 * Share capital 134,120,048.00 Euros

1st Semester 2022 Earnings Announcement

28 July 2022

Results

Grupo Vista Alegre consolidated results for the first semester of 2022 showed positive performance in terms of turnover, reaching 67.8 million euros (36.8% above the same period of 2021) and EBITDA reaching 11.2 million euros.

The recent energy crisis, aggravated by the conflict between Russia and Ukraine, caused a sharp rise in natural gas prices and a strong impact on the cost structure of Vista Alegre, in the order of 485% compared to 2021, leading to a negative net result in the first semester.

Despite this adverse context, Vista Alegre has managed to mitigate some of this negative impact, thanks to investments over the last few years to improve efficiency in its processes and through more efficient management of the means of production and resource utilization. In addition, urgent government measures are expected to support the ceramics and glass industries, among the largest consumers of natural gas.

Consolidated Results

M€

Turnover

67,8

49,6

18,3

36,8%

E B I T D A

11,2

8,1

3,1

38,5%

EBITDA Margin

16,5%

16,3%

0,2 pp

Operating Income

2,2

1,8

0,4

23,9%

Operating Margin

3,3%

3,6%

-0,3 pp

Income before taxes

0,1

-0,8

0,9

107%

Income tax

-0,1

0,3

Net income

-0,1

-0,5

0,4

85%

The Group recorded a positive operating result of 2.2 million euros and a negative net

result of -77 thousand euros.

4/7

Vista Alegre Atlantis, SGPS, S.A. * Public company * Head office: Lugar da Vista Alegre, Ílhavo * Registered with the Commercial Registry of Ílhavo * Taxpayer no 500 978 654 * Share capital 134,120,048.00 Euros

1st Semester 2022 Earnings Announcement

28 July 2022

Debt

Consolidated net debt declined in June 2022 by approximately 4.3 million euros compared to December 2021, with the company maintaining a high level of cash and cash equivalents and thereby a solid treasury position:

Financial debt (bank loans, bond and leasing)

82 871

85 583

88 585

Operating debt (export remittances, confirming and factoring)

9 153

9 043

8 612

Operating lease (IFRS 16)

6 752

7 188

7 898

Consolidated debt

98 775

101 814

105 095

Cash and cash equivalents

-22 046

-21 722

-24 079

Consolidated net debt

76 729

80 092

81 015

Grants to be converted

-5 704

-5 704

-5 704

Consolidated net debt after converted prizes

71 025

74 388

75 312

5/7

Vista Alegre Atlantis, SGPS, S.A. * Public company * Head office: Lugar da Vista Alegre, Ílhavo * Registered with the Commercial Registry of Ílhavo * Taxpayer no 500 978 654 * Share capital 134,120,048.00 Euros

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VAA - Vista Alegre Atlantis SGPS SA published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 21:53:09 UTC.