VIDRALA, S.A.

BUSINESS PERFORMANCE Q3 2020

MAIN FIGURES (NINE MONTHS ENDED)

September

September

Change

Change on

2020

2019

constant currency basis

Sales (EUR million)

749.8

761.9

-1.6%

-1.5%

EBITDA (EUR million)

203.6

206.3

-1.3%

-1.1%

Earnings per share (EUR)

4.11

3.99

+3.0%

Debt / EBITDA

1.0x

1.3x

-0.3x

Important: In order to allow comparability, last year's earnings per share has been adjusted for the effect of the bonus share issue carried out in December 2019.

Sales during the first nine months 2020 amounted to EUR 749.8 million, showing an organic change of -1.5%.

Operating profit, EBITDA, was EUR 203.6 million representing an operating margin of 27.2%.

Net debt at September 30, 2020 declines by 21% versus the previous year, reflecting a leverage ratio of 1.0 times last twelve months EBITDA.

VIDRALA. Earnings Report. Third quarter 2020. │ 1

Earnings performance

Sales

Sales reported by Vidrala during the first nine months 2020 amounted to EUR 749.8 million, a change of -1.6% over the previous year. On a constant currency basis, sales reflected an organic change of -1.5%.

SALES

YEAR OVER YEAR CHANGE

EUR million

800

-1.5%

-0.1%

700

761.9

749.8

600

500

400

9M 2019

Organic

FX

9M 2020

change

effect

EUR/GBP:

EUR/GBP:

0.8835

0.8851

Operating results

Operating profit -EBITDA- obtained in the first nine months 2020 reached EUR 203.6 million, a change of -1.3% over the figure reported last year. Organic change, on a constant currency basis, was -1.1%.

Over sales, EBITDA margin stood at 27.2%.

EBITDA

YEAR OVER YEAR CHANGE

EUR million

225

-1.1%

-0.2%

200

206.3

203.6

175

150

125

9M 2019

Organic

FX

9M 2020

change

effect

EUR/GBP:

EUR/GBP:

0.8835

0.8851

OPERATING MARGINS EBITDA

YEAR OVER YEAR CHANGE

As percentage of sales

28%

27.2%

27.1%

26%

+8 bps

24%

22%

20%

9M 2019

9M 2020

VIDRALA. Earnings Report. Third quarter 2020. │ 3

Results and financial position

Net profit in the first nine months amounted to EUR 111.0 million. As a result, earnings reached EUR 4.11 per share, an increase of 3.0% over the previous year.

Net debt at September 30, 2020 stood at EUR 262.6 million, reflecting a leverage ratio of 1.0 times last twelve months EBITDA.

DEBT

QUARTERLY EVOLUTION

Debt in EUR million and times EBITDA

500

1,4x

1.3x

1.2x

400

1.1x

1.1x

1,2x

300

1.0x

1,0x

200

0,8x

333

335

313

294

263

100

0,6x

0

0,4x

Sep-19

Dec-19

Mar-20

Jun-20

Sep-20

VIDRALA. Earnings Report. Third quarter 2020. │ 4

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Vidrala SA published this content on 21 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2020 05:54:02 UTC