Corporate Presentation 31/12/2024

www.flexopack.com

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Product Portfolio

✓ Shrink films for bottling industries
✓ Lamination films
✓ Thermoforming films
✓ Vacuum Pouches and Tubing
✓ Shrink Bags
✓ Vacuum Skin Packaging films
✓ Barrier and high barrier FFS films
✓ Barrier and high barrier films for Liners
✓ Customized film structures

Highlights

Thous. €	12M-2024	D
Sales	156,593	2.3%
EBITDA	20,658	-19.8%
EBT	14,063	-26.2%
EAT	10,675	-29.3%
Shareholders Equity	131,154	8.0%
Total Assets	223,535	12.9%

2024 Overview

Important milestones of the year 2024:

❑ Around 90% of our business is outside of Greece
❑ Continuous product development
❑ Further expansion of sales team and distribution network
❑ Investments in fixed assets of EUR 22 Mil. for the Group
❑ Issuance of two Common Bond Loans of EUR 28 Mil., to serve corporate activities and business expansion
❑ Strong financial position

Subsidiaries

CONSOLIDATED FINANCIALS

Income Statement

	GROUP			COMPANY
Thous. €		12M-2024 12M-2023	D	12M-2024 12M-2023		D
Sales	156,593	153,090	2.3%	119,085	112,521	5.8%
Gross Profit	39,338	41,996	-6.3%	27,775	25,857	7.4%
Gross Profit Margin	25.1%	27.4%		23.3%	23.0%
EBITDA	20,658	25,773	-19.8%	17,711	16,822	5.3%
EBITDA Margın	13.2%	16.8%		14.9%	15.0%
EBIT	13,505	19,834	-31.9%	12,746	12,612	1.1%
EBIT Margin	8.6%	13.0%		10.7%	11.2%
EBT	14,063	19,057	-26.2%	12,715	10,795	17.8%
EBT Margin	9.0%	12.4%		10.7%	9.6%
Earnings After Tax	10,675	15,101	-29.3%	9,774	8,297	17.8%
EAT Margin	6.8%	9.9%		8.2%	7.4%
EPS BASIC	0.9067	1.2857	-29.5%	0.8302	0.7064	17.5%
EPS DILUTED	0.8992	1.2806	-29.8%	0.8233	0.7036	17.0%

Country Turnover Breakdown

Thous. €	12M - 2024	12M - 2023	0/0
Greece	15,643	14,673	6.6%
% of total sales	10.0%	9.6%
Europe	67,207	59,532	12.9%
% of total sales	42.9%	38.9%
Other Countries	73,743	78,885	-6.5%
% of total sales	47.1%	51.5%
Total Exports	140,950	138,417	1.8%
% of total sales	90.0%	90.4%
Total Sales	156,593	153,090	2.3%

Cash Flow

Thous. €	12M-2024	12M-2023
Earnings before taxes	14,063	19,057
Adjustements	7,134	6,937
Gross Cash Flow	21,197	25,994
Change in Working Capital	(7,317)	7,780
Income tax paid	(3,204)	(5,695)
Operating Cash Flow	10,676	28,080
Cash Flow from Investment	(19,968)	(13,779)
Net Cash Flow Before Financing Activities	(9,292)	14,301
Net Cash Flow from Financing	7,613	2,302
Change in Cash and Cash Equivalents	(1,679)	16,602
Cash at Beginning	39,955	23,772
Effect from foreign exchange differeences	140	(419)
Cash at End	38,416	39,955

Capital Management

	GROUP		COMPANY
Thous. €		12M-2024 12M-2023	12M-2024	12M-2023
Long-term debt obligations	43,055	32,259	38,829	27,191
Short-term bebt obligations	8,110	6,878	6,148	4,861
Total bank debt	51,165	39,137	44,977	32,052
Liabilities for Leases	1,169	1,128	751	643
Debt Total	52,334	40,265	45,728	32,695
Minus : Cash and cash equivalents	38,416	39,955	30,889	24,418
Net Debt (1)	13,918	309	14,839	8,277
Total Equity (2)	131,154	121,386	115,821	107,535
Total Employed Capital (1)+(2)	145,072	121,695	130,660	115,812
Net Debt / Total Employed Capital	9.6%	0.3%	11.4%	7.1%

Thous. €	2020	2021	2022	2023
Sales			96,953 114,181 151,012 153,091 156,593 671,830
CAPEX			6,578 3,187 13,490 15,923 22,054 61,232
% On Sales	6.8%	2.8%		8.9% 10.4% 14.1% 14.1% 9.1%

Statement of Financial Position

Thous. €		12M-2024 12M-2023	D
ASSETS
Tangible & Intangible Assets	89,021	73,588	21.0%
Investments in Associate Companies	8,320	7,300	14.0%
Other L.T.assets	1,832	1,227	49.3%
Total Non Current Assets	99,173	82,115	20.8%
Inventories	54,942	45,699	20.2%
Trade Debtors	24,051	23,045	4.4%
Other Receivables	6,953	7,118	-2.3%
Cash & cash equivalents	38,416	39,955	-3.9%
Total Current Assets	124,362	115,818	7.4%
Total Assets	223,535	197,933	12.9%
SHAREHOLDER'S EQUITY & LIABILITIES
Share Capital	6,409	6,409	0.0%
Share Premium-Reserves-Retained Earnings	124,744	114,977	8.5%
Shareholders Equity	131,154	121,386	8.0%
Minority interest	0	0
Total Shareholders Equity	131,154	121,386	8.0%
L-T Bank Loans	43,055	32,259	33.5%
Deferred Tax Liabilities	725	982	-26.2%
Retirement Benefit Obligations	763	637	19.8%
Other L.T.L. & Provisions	3,371	3,425	-1.6%
Total Non Current Liabilities	47,914	37,303	28.4%
Trade Creditors and related liabilities	31,746	28,977	9.6%
S-T Bank Loans	8,110	6,878	17.9%
Current tax Liabilities	4,611	3,390	36.0%
Total Current Liabilities	44,467	39,245	13.3%
Total Liabilities	92,381	76,548	20.7%
Total Liabilities & Equity	223,535	197,933	12.9%

This presentation contains public available information, serves only informative purposes and it does not form or can either be referred as a buy, sell or hold encouragement for shares. Investors must decide upon their investments based on their own investing preferences, financial status and advice from those registered investment advisors who consider appropriate. This presentation belongs to Flexopack S.A.

FLEXOPACK S.A. Ifestou 36, Thesi Tzima, Koropi, 19400 GREECE T +30 21 0668 0000, F +30 21 0662 6583 [email protected]

FLEXOPACK POLSKA SP. z.o.o. Tragamin 17, Malbork, 82-200, Polska T +48 (55)2720048, F +48 (55)2731806

FLEXOPACK PTY LTD 17 Dixon Street, Yatala, QLD, 4207 AUSTRALIA T +61 73386 2999, F +61 73386 2900

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