TO CREATE THE PERFECT POOL & WELLNESS
EXPERIENCE, RESPONSIBLY
Investor Relations Materials
May 2021
DISCLAIMER
- This document is for information purposes only and does not constitute an offer to sell, exchange or buy, or an invitation to make offers to buy, securities issued by any of the companies mentioned. This financial information has been prepared by Fluidra, S.A. ("Fluidra", and with all its subsidiaries, the "Fluidra Group") in accordance with International Financial Reporting Standards (IFRS).
- The assumptions, information and forecasts contained herein do not guarantee future results and are exposed to risks and uncertainties; actual results may differ significantly from those used in the assumptions and forecasts for various reasons.
- The information contained in this document may contain statements regarding future intentions, expectations or projections. All statements, other than those based on historical facts, are forward-looking statements, including, without limitation, those regarding our financial position, business strategy, management plans and objectives for future operations. Such forward-looking statements are affected, as such, by risks and uncertainties, which could mean that what actually happens does not correspond to them.
- These risks include, amongst others, seasonal fluctuations that may change demand, industry competition, economic and legal conditions, restrictions on free trade and/or political instability in the markets where the Fluidra Group operates or in those countries where Fluidra Group's products are manufactured or distributed, and those that may arise from potential COVID 19-related contingencies. The Fluidra Group makes no commitment to issue updates or revisions concerning the forward-looking statements included in this financial information or concerning the expectations, events, conditions or circumstances on which these forward- looking statements are based.
- In any event, the Fluidra Group provides information on these and other factors that may affect the company's forward-looking statements, business and financial results in documents filed with the Spanish National Securities Market Commission (Comisión Nacional del Mercado de Valores). We invite all interested persons or entities to consult these documents.
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ACCELERATING GROWTH & IMPROVING VALUE CREATION
1 | Global leader - at scale, in a long-term structural growth industry |
2 | Track record of delivery, expecting to fulfill 2022 Strategic Plan one year ahead of |
target | |
Winning regional strategies for growth and profitability | |
3 | IoT increasing barriers to entry - Fluidra leading the transformation |
Significant inorganic growth opportunities in a fragmented industry | |
ESG at the heart of Fluidra's activity | |
4 | Clear medium-term objectives based on improving outlook further enhanced by |
megatrends and current lifestyle shifts | |
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FLUIDRA CONTINUES TO DELIVER ON FINANCIAL OBJECTIVES - AHEAD OF PLAN
Targets set - Strategic Plan 2018-2022
€1.2bn
Sales
2017
€199m
EBITDA1
2017
Cash Net Profit
2017
€152m
Free Cash Flow2
2017
3.5x
Net Debt
2017
12%
ROCE3
2017
€1.7bn
€1.5bn
€351m
€321m
€160m €166m
€247m
c. 2.0x 1.8x
>20%
18%
Margin guidance at c. 23% vs 22% target in 2022
€345m
PF CMP
Acquisition for
2020 of 2.3x
FY 2020 results
- Executed ahead of plans set with transformational 2018 Zodiac merger
- All 2022 Strategic Plan objectives to be met by 2021
- Step change continues: 2021 guidance will be met (at minimum)
- "Stay at home" & "Flight to suburbs" trends continue to stimulate growth
- Texas freeze disaster (Feb 2021) increasing after- market replacement demand
2021 Guidance pre CMP acquisition | 2021 Guidance PF for CMP acquisition |
2022 Strategic Plan objectives
- €351m EBITDA 2022 objective is pre IFRS 16, becoming €375m once adjusted, also to be achieved during 2021
- FCF calculated as adjusted EBITDA - Capex +/- Changes in Operating Working Capital
3: ROCE is defined as adjusted EBITA / Cash Equity. Cash Equity includes (€527M) adjustment to reflect delta in between 6 months average share price pre-merger announcement 4 (€7.37 p.s.) and share price pre closing (€13.72 p.s.) times 83 million issued shares. 18% ROCE on IFRS accounting, becoming 19% once measured as per US GAAP
GLOBAL LEADER IN A GROWTH INDUSTRY
Structurally attractive industry - long-term growth, accelerated by
1 recent lifestyle changes
2 | Global leader - based on unique footprint and offering |
3 | Growth, improving margin and value creation for shareholders |
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Fluidra SA published this content on 07 May 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 May 2021 07:33:07 UTC.