FY2020 Results - Investor call
Milan, 15 February2021
AGENDA
1 FY 2020 Financial Results
2 Final Remarks
Michele Bianchi - CEO
Luca Rizzo - CFO
FY2020 AT A GLANCE
EBITDA margin improved in both business segments
Favorable external drivers both in WLC and FBBDemand: flat in WLC and stronger in FBB
Slight increase in volumes (+0.8%)
Decrease in selling prices in FY 2020 compared to FY 2019
Lower raw materials costs both for recycled and pulp
Lower cost of energy
Solid market position
Efficiency and synergy plan boosting a favorable scenario both in demand and input costs
EBITDA margin at 12.3%
(vs. 10.3% in FY 2019)
High increase in NET PROFIT +115.1%
(€33.6m vs. €15.6 in FY 2019)
Higher spread
Decrease in selling prices lower than the decrease in input costs
Decrease in NFD
(from €52m at December 31, 2019 to €8.9m at December 31, 2020)
HIGHLIGHTS
*2019-2020 ROCE included the write-down of the fixed assets of La Rochette mill for €13.2m. Without these write-downs, ROCE would have been 17.56% at December 31, 2020 and 13% at December 31, 2019.
*Net Debt as 31 December 2020 includes €15.6m liabilities due to the adoption of the new IFRS 16 "Leases".
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Reno De Medici S.p.A. published this content on 16 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 February 2021 13:24:06 UTC.