Metalfrio S A : 4Q21 Earnings Release Presentation
April 05, 2022
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In this presentation we make statements about future events (forward-looking statements) that are subject to risks and uncertainties. These statements are based on beliefs and suppositions of our Management and information to which the company currently has access. Statements about future events include information about our present intentions, beliefs or expectations, and those of the members of the company's Board of Directors, and Executive Officers. Reservations in relation to statements and information about the future also include information about possible or presumed operational results, and also statements that are preceded or followed by or which include the words "believe", "may", "will", "continue", "expect", "forecast", "intend", "plan", "estimate", or similar expressions. Statements and information about the future are not guarantees of performance. They involve risk, uncertainties and suppositions because they refer to future events, and thus depend on circumstances which may or may not occur. Future results and the creation of value for stockholders may differ significantly from those expressed or suggested by forward-looking statements. Many of the factors that will determine these results and amounts are beyond Metalfrio Solutions' capacity to control or forecast.
Information on performance that is not directly derived from financial statements, such as, for example, information about the market, quantities produced and sold, production capacity, or calculation of adjustments on our results were not subject of audit by our external auditors.
4Q21 Highlights
Million Reais
4Q21
4Q20
% Var
FY2021
FY2020
% var.
Revenues
559.1
386.6
44.6
2,046.4
1,445.2
41.6
Gross Profit
123.4
63.8
93.5
350.9
252.2
39.1
Operational Profit
71.1
14.7
382.4
163.4
72.6
124.9
EBITDA
90.0
31.6
184.5
230.2
130.7
76.1
Adjusted EBITDA
90.2
37.0
143.7
232.0
151.3
53.3
Net Profit
(43.1)
17.4
(347.8)
(56.0)
(140.1)
(60.0)
Revenues increased by 45% in 4Q21 to R$559 million and 42% in 2021 to R$2,046 million benefiting from the diversified customer base developed during the pandemic and the contribution from all the geographies;
Revenues from Services increased 36% to R$76 million for 4Q21, compared to R$56 million in 4Q20;
In 4Q21 EBITDA was R$90million and R$230 million in 2021, an increase of 185% and 76% respectively;
Net Loss of R$43 million in 4Q21 and R$56 million for full year 2021, compared with net loss of R$140 million for the full 2020 as a result of higher Operational Profit and lower Financial Expenses.
COVID-19 Impact
Revenues
• Continuous momentum with demand exceeding pre-covid levels
Revenues YoY
• Key Accounts resuming investment program in the latter part of the year
• Versatility to adjust sales mix
• Service contribution
Material Costs
• Impacted by commodities super cycle
• Material shortage requesting extraordinary costs
• Freight constrains
722.8
48.8%
FY19
14.4%
36.8%
545.4
730.4
212.6
50.5%
51%
FY2039%
11%
38.5%
556.6
10.9%
158.2
South America
Central & North America
1,038.9
10.3%
39.0%
50.8%
FY21
210.1
EMEA
308
2,046
1,481
1,445
2,046
797.5
FY19
South america Central and
North AmericaEMEA
FY20
South america Central and
North AmericaEMEA
FY21
Values in R$ MM
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Metalfrio Solutions SA published this content on 06 April 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 April 2022 00:24:03 UTC.
Metalfrio Solutions SA is a Brazil-based company involved in the production of plug-in commercial refrigerators and freezers. The Company's activities are divided into two business segments: Products and Services. The Products division is responsible for the manufacture and sale of domestic and commercial refrigerators and freezers. The Services division focuses on the maintenance and technical assistance for the products, sale of spare parts to authorized dealers and product customers, as well as logistics services. The Company distributes products under a number of brand names, such as Metalfrio, Derby, Caravell and Klimasan. It operates production plants in Europe and the Americas. The Company's subsidiaries include Metalfrio Solutions Sogutma Sanayi ve Ticaret Anonim Sirket, Metalfrio Solutions Inc, Begur Transportes Rodoviarios, Logistica e Servicos Ltda and Metalfrio Solutions Mexico SA de CV.