Vidrala FY2014 Results

2014 RESULTS PRESENTATION

20 FEBRUARY 2015

100%45,045,546,046,547,047,548,048,549,010,012,014,016,018,020,046,047,048,049,050,051,052,053,054,0

2014 KEY FIGURES

2

EUR in millions 2014 Change (yoy)

Sales 468.4 -1.0%

Operating income 69.6 -3.9%

Net income 51.6 -1.3%

EPS (EUR/share) 2.08 -1.0%

Free cash flow 72.3 +27.5%

Debt 67.9 -42.4%

EPS (EARNINGS PER SHARE)

ADJUSTED, SINCE 2004

EUR/SHARE

3

2.08

0,00

0,50

1,00

1,50

2,00

2,50

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

SALES

ANNUAL ACCUMULATED SINCE 2010

EUR in millions

405.9 433.3

456.9 472.9 468.4

0

50

100

150

200

250

300

350

400

450

500

2010 2011 2012 2013 2014

4

SALES

HALF YEAR FIGURES SINCE 2012

EUR in millions

235.0 221.9

245.8 227.2

240.4 227.9

0

50

100

150

200

250

300

H1 H2

2012 2013 2014

yoy

-2.2% yoy

+0.3%

5

OPERATING PROFIT (EBIT)

ANNUAL ACCUMULATED SINCE 2010

EUR in millions

62.9 61.0 65.3

72.4 69.6

0

10

20

30

40

50

60

70

2010 2011 2012 2013 2014 6

OPERATING MARGIN (EBIT)

FIGURES SINCE 2005

EBIT as a percentage of sales

14.9%

0%

2%

4%

6%

8%

10%

12%

14%

16%

2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

7

65.3 72.4 69.6 70.9

83.6 77.9

2012 2013 2014

EBIT EBITDA after CAPEX

OPERATING PROFILE

EBIT and EBITDA after Capex SINCE 2012

EUR in millions and as a percentage of sales

15.5% 17.7% (% of sales) 14.3% 14.9% 16.6% 15.3%

8

CASH PROFILE

CASH GENERATION IN 2014

EUR in millions and as a percentage of sales

WORKING

CAPITAL INTERESTS

&

TAXES

CAPEX

23.2%

-2.1%

-6.5%

12.0%

EBITDA

2014

FREE CASH FLOW

2014

108.5

72.3

15.4%

+0.9%

9

CASH ALLOCATION

2014

EUR in millions

(16.2)

DIVIDEND

PAYMENT (6.1)

SHARE

BUYBACKS

(50.0)

DEBT

REDUCTION

NET

INCOME

FREE

CASH

FLOW

10

NET

INCOME

FREE

CASH

FLOW

51.6

72.3

FINANCIAL PROFILE

DEBT AND EQUITY, SINCE 2009 AT YEAR END

EUR in millions

DEBT/EBITDA 2.9x 2.2x 1.9x 1.5x 1.0x 0.6x

GEARING 102% 76% 61% 47% 31% 17%

11

257.0

218.9 189.3

159.6

117.9

67.9

252.0

287.0 311.8

338.5

374.5 404.5

0

50

100

150

200

250

300

350

400

DEC 2009 DEC 2010 DEC 2011 DEC 2012 DEC 2013 DEC 2014

DEBT SHAREHOLDERS' EQUITY

ROCE* * EBIT after taxes for the year/capital employed for the year

SINCE 2009

12

11.5%

0,0%

2,0%

4,0%

6,0%

8,0%

10,0%

12,0%

14,0%

2009 2010 2011 2012 2013 2014

DERRYLIN

County Fermanagh,Northern Ireland, UK

Built in 1998

Unique glass packaging plant in Ireland

ELTON

County Chesire , England, UK

Built in 2005

Largest glass packaging plant in Europe

Includes filling and logistics facilities

13

Appendix

ACQUISITION OF ENCIRC

Appendix

PROFORMA 2014 FINANCIAL STATEMENTS

14

2014A 2014A 2014A PROFORMA

2014 Currency EUR GBP EUR* EUR

TURNOVER 468,8 245,5 304,5 773,3

Net sales 468,4 238,4 295,7 764,1

Other income 0,4 7,1 8,8 9,3

EBITDA 108,5 45,9 56,9 165,4

EBITDA margin** 23,2% 19,2% 19,2% 21,6%

EBIT 69,6 21,2 26,2 95,8

EBIT margin** 14,9% 8,9% 8,9% 12,4%

* EUR/GBP: 0.8062

** EBITDA and EBIT margins as a percentage of net sales

Encirc figures are pre-audited pending of reconciliation from UK GAAP to IFRS. Theses figures exclude certain items

management considers not representative of ongoing operations.

Iberia

54%

Italy

12%

Rest of

continental

Europe

34%

Iberia

35%

UK&Ireland

35%

Italy

8%

Rest of

continental Europe

22%

2014 SALES BY GEOGRAPHY

+

+

UK

77%

Ireland

23%

15

Appendix

Q&A