Understanding Coats
Financial performance
| Continuing operations | FY 2022 | FY 20213 | FY 2022 vs FY 2021 | ||
| Reported | 4CER | 4Organic | |||
| Revenue* | $1,584m | $1,447m | 9% | 16% | 10% |
| Adjusted4 | |||||
| Operating profit* | $235m | $198m | 19% | 27% | 22% |
| EBITDA* | $284m | $243m | |||
| Basic earnings per share* | 8.2c | 7.2c | |||
| Free cash flow* | $114m | $124m | |||
| Net debt (excl. IFRS 16) | $394m | $147m | |||
| Pro forma leverage*2 | 1.4x | 0.7x | |||
| Reported1 | |||||
| Operating profit | $181m | $178m | 2% | 9% | 9% |
| Basic earnings per share | 4.8c | 5.8c | |||
| Net cash generated by operating activities | $96m | $129m | |||
| Final dividend per share | 1.73c | 1.50c | |||
| Total dividend per share | 2.43c | 2.11c | |||
* Indicates our KPI measures. See pages 30-31 for more details and historical performance.
1. Reported metrics refer to values contained in the IFRS column of the primary financial statements in either the current or comparative period.
2. Leverage calculated on a pro forma and frozen GAAP basis and therefore excludes the impact of IFRS 16 on both adjusted EBITDA and net debt and includes a full 12 months of EBITDA for Texon and Rhenoflex.
3. Restated to reflect the results of the Brazil and Argentina business, divested in 2022, as a discontinued operation.
4. Alternative Performance Measures – see note 37.
2022 HIGHLIGHTS
| 10% Organic revenue growth |
$20m Strategic projects savings in 2022 On track to deliver $70m in 2024 |
14.8% Adjusted EBIT margin |
| 37% Recycled sales growth |
$235m Adjusted EBIT |
$114m Adjusted Free cash flow |
