Aluflexpack : Full year 2022 results presentation

Aluflexpack AG

Full Year 2022 Results Presentation

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This presentation may contain "forward-looking statements" that are based on our current expectations, assumptions, estimates and projections about us and our industry. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain the words "may", "will", "should", "continue", "believe", "anticipate", "expect", "estimate", "intend", "project", "plan", "will likely continue", "will likely result", or words or phrases with similar meaning. Undue reliance should not be placed on such statements because, by their nature, forward-looking statements involve risks and uncertainties, including, without limitation, economic, competitive, governmental and technological factors outside of the control of Aluflexpack AG (Aluflexpack, Group), that may cause Aluflexpack's business, strategy or actual results to differ materially from the forward-looking statements (or from past results). Nothing contained in this presentation is or should be relied upon as a promise or representation as to the future. It is up to the recipient of the presentation to make its own assessment as to the validity of such forward- looking statements and assumptions.

The information contained in the presentation does not purport to be comprehensive. Aluflexpack undertakes no obligation to publicly update or revise any information contained herein or forward- looking statements, whether to reflect new information, future events or circumstances or otherwise. It should further be noted, that past performance is not a guide to future performance. Please also note that interim results are not necessarily indicative of the full-year results. Persons requiring advice should consult an independent adviser. Some financial information in this presentation has been rounded and, as a result, the figures shown as totals in this presentation may vary slightly from the exact arithmetic aggregation of the figures that precede them. While we are making great efforts to include accurate and up-to-date information, we make no representations or warranties, expressed or implied, and no reliance may be placed by any person as to the accuracy and completeness of the information provided in this presentation and we disclaim any liability for the use of it. Neither Aluflexpack nor any of its directors, officers, employees, agents, affiliates or advisers is under an obligation to update, correct or keep current the information contained in this presentation to which it relates or to provide the recipient of it with access to any additional information that may arise in connection with it and any opinions expressed in this presentation are subject to change.

In this presentation, we utilise certain alternative performance measures, including EBITDA, EBITDA before special effects, Operating Profit before special effects, organic growth, Working Capital ratio, and others that in each case are not recognized under International Financial Reporting Standards ("IFRS"). These non-IFRS measures are presented as we believe that they and similar measures are widely used in the markets in which we operate as a means of evaluating a company's operating performance and financing structure. They may not be comparable to other similarly titled measures of other companies and are not measurements under IFRS or other generally accepted accounting principles, nor should they be considered as substitutes for the information contained in the financial statements included in this presentation. For a particular definition of any of the mentioned and non-mentioned alternative performance indicators please see either notes in this presentation or definitions in our Annual Report 2022.

By receiving this Presentation, you agree to be bound by the foregoing limitations. Any failure to comply with these restrictions may constitute a violation of applicable securities laws. This Presentation does not constitute investment, legal, accounting, regulatory, taxation or other advice.

THIS PRESENTATION IS NOT AN INVITATION TO PURCHASE SECURITIES OF ALUFLEXPACK AG OR THE GROUP.

2

Business & Financial

Overview 2022

Business highlights 2022

Strong performance amidst challenging market conditions

Robust business

Dynamic cost

Peak of CAPEX

3-WIN 2025

Outlook for 2023

development

structures

cycle passed

strategy

affirmed

Historically high

Dynamic cost

Good progress on

Substantial

Stability of

net sales growth

development

major on-site

progress on

business model

due to broad-

throughout the

expansion in

strategic

prevailing and net

based expansion

year

Drniš, all

roadmap to 2025

sales of € 390-

of business and

machines

430m expected

support from price

Measures to

expected to be

Achievement

increases

mitigate impact

operational by

across all targets

EBITDA before

of increased

Q2

recorded

SE targeted

costs in our

between € 50-55m

Diligent supply

business put in

Significant

chain

place

decrease in

management and

capex to net sales

strong operational

ratio targeted for

performance

2023

4

Financial highlights 2022

Strong increase in absolute EBITDA, but margin diluted by cost increases

Net sales		EBITDA before		EBITDA margin		ROCE	(2)		Leverage (3)
	SE (1)		before SE (1)
+34.2%	+11.3%		270 bps lower			increase

+27.9% organic	owing to robust
growth	operational
	performance
	despite rising
	material prices
	46.6
	41.8
€ 357m	37.4
€ 266m

2021

2022

2020

2021

2022

decrease as a result of higher costs and dilutive impact from pass- through achieved

15.6% 15.7%

13.0%

2020 2021 2022

due to increase of	as a result of Teko
CE following	acquisition,
major expansion	organic expansion
in Drniš	and higher TWC

2.5x

11.7%

10.3% 9.9%

0.8x

0.2x

2020	2021	2022	2020	2021	2022

Note(s): (1)	EBITDA before SE refers to EBITDA before special effects. A detailed reconciliation of the reported and adjusted figures can be found on slide 25 of this presentation.
(2)	ROCE stands for return on capital employed (CE) and refers to EBIT before SE for the last twelve months divided by capital employed, which is defined as average equity plus average net financial debt for the last twelve months.	5
(3)	Leverage defined as net debt divided by EBITDA before SE. The EBITDA contribution of the newly acquired Turkish subsidiary Teko is included as if the transaction would have taken place on 1 January 2022.