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
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