Investor Presentaiton
Consolidated NET EQUITY and NFP
NET EQUITY VARIANCE (M€)
160,1
15,4
-3,5
-0,2
1,6
0,3
173,7
Net Equity
FY 2020
Net Profit
Dividend
Buy back
9M 2021
Hedging
reserves
Others
Net Equity
9M 2021
NFP EXCL. IFRS 16 VARIANCE - ILLUSTRATIVE (M€)
7,2
29,4
-9,6
3,5
-3,5
-0,2
74,4
47,6
-27,5
75,1
FY 2020 Cash Flow
Excl.
IFRS 16
NWC
change
Operating Other net Dividend Buy
Capex divestiture
back
9M 2021
Excl.
IFRS16
IFRS16
effect
9M 2021
incl IFRS16
COMMERCIAL NWC - SEASONAL EVOLUTION (M€)
-7,2
55,0
50,3
50,0
47,0
47,0
44,5
43,0
37,9
34,6
30,7
32,4
30,6
Dec.
Jun.
Dec.
Jun.
2017 PF (2018 2018
2019
Dec. Mar. Jun. Sep. Dec. Mar.
2019 2020 2020 2020 2020 2021 2021
Giu.
Sep.
2021
•
Filli
Orsero
QUALITA
GRUPPO
ORSERO
Total Shareholders' Equity improves to 173,7 M€ as a results of:
-
-
Net profit of the period (15,4 M€)
► Dividend paid in May 2021 (0,2 EUR/share)
Positive impact of MTM change of hedging instruments of 1,6 M€
Buy back of 0,2 M€
NFP excl. IFRS stands at 47,6 M€, or 75,1 M€ with IFRS 16 liabilities:
Positive cash flow generation, abt. 29,4 M€
Commercial net working capital release of 7,2 M€
Operating Cash Capex (*) are 9,6 M€, for investments in core activities:
► 2,2 M€ new warehouse in Tenerife (Granadilla)
1,5 M€ related to expansion of Spanish distribution footprint (new market stands,
warehouse enlargement)
1,1 M€ spent on French warehouses of Rungis (cool rooms) and Cavaillon (social areas)
0,6 M€ for new ripening and cooling rooms in Alverca/Portugal
0,5 M€ of new equipment for water distribution and fresh cut equipment (Verona)
0,3 M€ for a new small ripening/cool storage facility in Sicily
0,2 M€ for the revamping of ripening centre in Greece.
1 M€ of new ERP implementation in Italy
2,2 M€ of several minor investments on the European distribution platforms
Other net divestiture of 3,5 M€ related to the disposal of the Milan site (4,2 M€)
and of a small plot of land in Sicily partially offset by the acquisition of a minority
stake of a company distributing Italian products
Buy Back of 0,2 M€ (further 0,28 M€ purchased in Oct. 2021)
Dividend paid to Orsero's shareholders of 3,5 M€ (0,2 €/share)
Liabilities related to IFRS 16 are equal to abt. 27,5 M€
(*) Noncash capex excluded from variance analysis: incremental IFRS 16 right-of-use equal to 4,3 M€.
(**) 2017 Pro forma data reflect all the effects of the acquisition carried on during the year 2017. Limited to this purpose, the acquired companies have been assumed fully controlled from Jan. 1,2017.
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