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Investor Presentaiton

9M 2021 RESULTS - ROBUST RESULTS DELIVERY • • COVID-19: all safety measures are still in place, adapting to crisis evolution Economic and Financial Response Filli Orsero QUALITA GRUPPO ORSERO CORPORATE BUSINESS • • - - Supply chain constantly monitored in order to manage inflationary pressure and operational constraints due to international maritime transport issues (e.g. container shortage, surging freights) Focus on working capital management, with particular regard to the enhancement of credit collection Capex in line with planned investments ➤ minor recurring investments on distribution platforms in Europe some expansion capex in particular in Spain (New warehouse in Tenerife, new market stand and enlargement of warehouse in Sevilla; new ripening centre in Sicily) Post 9M 2021 closing - - - - M&A: executed earlier in October 2021 the acquisition of 50% of Agricola Azzurra for a cash consideration of 7,3 M€ Signing of a new 2-year lease contract, relevant for the purposes of IFRS 16, for the fifth reefer ship in use Market context Fruit and vegetables consumptions are still overall flat but with mixed results among different products, Q3 shows some signs of recovery after several months of lagging volumes sold compared to booming sales achieved in H1 2020 Distribution channels are normalizing Import & Distribution BU Good sales in absolute value: slightly below (-0,4%) 9M 2020 but largely positive vs 9M 2019 (+5,2%) ➤ Excellent growth in France, Greece and Mexico, positive performance in Spain, lower sales in Italy, Portugal Volumes are all in all declining while the price/mix effect is positive ➤ Good sales of kiwi, avocado, stone fruits and table grape offset by declining basic products (banana, apple/pear, citrus). ➤ Fresh-cut is gaining momentum leaping the pre-covid levels and over pacing the market trend Adjusted EBITDA margin of 4,0%, unchanged as last year certain fruit campaigns were closed earlier than usual, i.e. in Q3 instead of Q4 anticipating a portion of the last quarter results Shipping BU - CAM Line is keeping a high level of operational and economic performance, with historically high loading factor Overperformance of revenues from dry containers carried on the way back from EU to Central-South America - Adjusted EBITDA margin of 23,6% vs 18,9% LY 24
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