Reno De Medici S p A : FY 2020 Results Investor call

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".