Armacell Investors Financials FINANCIALS Armacell has a long track record of growth, superior profitability and cash generation. Net sales of €591 million in 2020 Adjusted EBITDA of €120 million with an adjusted EBITDA margin of 20.2% Business model proves resilient in a challenging year Delivering positive adjusted free cash flow Significant strategic investments into production site upgrades, product portfolio extensions and innovation PAI Partners and KIRKBI committed to Armacell’s ongoing growth strategy NET SALES IN € MILLION 558.6 600.3 610.3 644.4 590.5 2016 2017 2018 2019 2020 NET SALES BY BUSINESS DIVISION Advanced Insulation Engineered Foams NET SALES BY REGION APAC AMERICAS EMEA FIVE-YEAR FINANCIAL OVERVIEW in €m 2016 2017 7 2018 2019 8 2020 INCOME STATEMENT 1 Net sales 558.6 600.3 610.3 644.4 590.5 Adjusted EBITDA 2 100.4 103.8 106.0 133.5 119.6 Adjusted EBITDA margin 18.0% 17.3% 17.4% 20.7 % 20.2% Adjusted EBITA 3 82.4 84.8 86.4 102.7 87.5 Adjusted EBITA margin 14.8% 14.1% 14.2% 15.9% 14.8% EBIT 37.4 43.8 28.6 56.0 28.8 CASH FLOW 1 Adjusted cash flow from operating activities 4 83.7 83.9 94.3 129.1 100.6 Investments (excluding acquisitions) 25.7 41.0 46.0 44.3 44.2 Adjusted free cash flow 5 58.0 43.4 48.9 85.6 57.9 BALANCE SHEET 1 Current assets 191.0 210.5 252.8 265.2 268.4 Non-current assets 981.3 966.0 978.9 1,020.6 1,437.4 Current liabilities 145.8 132.4 184.6 1,272.7 185.3 Non-current liabilities and equity 1,206.5 1,044.1 1,047.1 13.1 1,520.5 NET DEBT - EXCLUDING SHAREHOLDER LOANS 1 Economic equity 6 306.5 276.4 253.4 249.5 530.1 Net debt 552.6 603.5 623.3 621.4 736.2 NOTES 1 Consolidated financial statements for 2020 were prepared for Neptune Holdco and included ten months of Armacell Group activities in 2020. 2 Adjusted for non-recurring items. 3 Adjusted for non-recurring items and asset impairments. 4 Adjusted for non-recurring items, depreciation and interest expenses on lease in 2019. 5 Adjusted for depreciation and lease interest expenses in 2019. 6 Includes shareholder loans. 7 Adjusted for expenses related to closure of operation. 8 IFRS 16 applied since 1 January 2019. CORPORATE RATING Standard & Poor's B negative April 2020 Moody's B3 stable June 2019 Relevant disclosure is provided to our investors on an ongoing basis. Creditors of Armacell's 2020 credit facility have access to selected confidential information. Please register and login to make this exclusive investor information available on this page. Login Register ANNUAL REPORT READ ONLINE DOWNLOAD FOOTER MAIN ABOUT PRODUCTS PEOPLE SUSTAINABILITY INNOVATION INVESTORS FOLLOW ARMACELL FOOTER Home Contact Press room & library Sitemap Imprint / disclaimer Data protection Whistleblower portal Copyright © 2021 Armacell - All rights reserved. WE USE COOKIES TO ENSURE THAT WE GIVE YOU THE BEST EXPERIENCE ON OUR WEBSITE Please access our Data Protection Policy to find out more about the cookies we use and how to disable them. YES, I ACCEPT MANAGE COOKIES