2022 ORIOR Group

HALF YEAR RESULTS

Disclaimer

This presentation is not a prospectus within the meaning of Article 652A of the Swiss Code of Obligations, nor a listing prospectus within the meaning of the Listing Rules of the Six Swiss Exchange AG or a prospectus under any other applicable law.

These materials do not constitute or form part of any offer to sell or issue, or any solicitation or invitation of an offer to purchase or subscribe for, securities, and any or all of these materials or distribution does not form the basis of, or be relied upon in connection with, any contract or investment decision relating to any securities.

The materials may contain forward-looking statements based on the beliefs and assumptions currently held by the management of ORIOR AG. Management believes that the expectations expressed in these statements are based on reasonable assumptions. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of ORIOR AG, or industry results, materially differ in results, financial condition, performance or achievements. expressed or implied by these forward-looking statements.

Note on performance metrics

ORIOR uses in this presentation alternative performance indicators that are not defined by Swiss GAAP FER. These alternative performance indicators provide useful and relevant information on the Group’s operational and financial performance. The “Alternative Performance Measures Half Year 2022” document, available at https://orior.ch/en/financial-reportsdefines these alternative performance measures.

2 First-half 2022 results | August 16, 2022

Agenda

1H 2022

  • CEO statement
  • Operational profile of the ORIOR Group
  • Group initiatives
  • ORIOR Segments
  • Consolidated income statement and balance sheet
  • Other key figures ORIOR Group

Outlook

  • CEO statement
  • ORIOR Group
  • ORIOR Segments

3 First-half 2022 results | August 16, 2022

CEO statement

Widespread organic growth

Top line > Strong 5.9% increase in revenue to CHF 309.2 million

  • Organic: +7.7%, currency effect -1.8%
    Well over half of this growth was driven by higher volumes – across all segments
  • Main growth drivers: the International segment with exceptionally good growth at Casualfood and Culinor; and the continued positive performance of Convenience, largely driven by trending product categories such as vegetable, regional and organic products.

Profitability > Considering the general environment, EBITDA is solid at CHF 30.2 million (H1 21: CHF 31.1 million)

  • 9.8% EBITDA margin
  • Key drivers: growth high-margin product categories; advance purchases; responsible and staggered price adjustments from spring 2022; and significantly lower pandemic relief payments.

Group key initiatives

  • ORIOR 2025 strategy
  • “ORIOR New Normal” / Site management:
    • New factory-based production capacity is commissioned
    • Two factories closed; production volumes transferred to larger existing production facilities
  • ORIOR / ESG Responsibility:
    • All ORIOR operations in Switzerland are certified climate neutral, since January 2022
    • Systematic sustainability management plan for the entire Group
    • Several upgrades from external sustainability rating agencies

4 First-half 2022 results | August 16, 2022

CEO statement

Update on the impact of the difficult global economic situation

  • Rising input costs have various consequences:
    • Durum wheat supply is scarce worldwide, prices have soared
      • ORIOR sources durum wheat from Canada; S1 prices were fixed in advance; negotiations for later periods are currently underway (the number of harvests and Ukrainian exports are critical factors).
    • Energy > A significant portion of our electricity needs have been secured in advance at fixed prices > subsequent cost increases cannot be passed on > efficiency improvement measures have been put in place.
    • In Switzerland, pork and beef (two most important commodities in CHF) are subject to a dynamic price adjustment mechanism (margins or markdowns) put in place by food manufacturers and retailers.
    • Rising prices of other products such as poultry, eggs, other types of meat, plastics, etc.
      • constant negotiations on price adjustments to pass on rising costs; incremental and deferred cost

pass-through from spring 2022.

    • Logistics > ORIOR’s supply chains are generally short and generally entirely localized in its target markets, but the possibilities of passing on cost increases are very limited.
    • Energy and commodity prices increased the most in Belgium > difficult price negotiations > new innovative product launches brought some relief.
    • Casualfood is less affected by rising costs as its B2C business model gives it greater pricing power.
  • Inflation weighs on household budgets
    • ORIOR’s German and Belgian target markets are clearly impacted by high inflation, currently in the range of +7.5% and +9.6%.
  • Forex > strong Swiss franc
    • Slightly positive impact on the purchase of foreign goods.
    • Negative impact on the Group’s turnover and results from the International segment.

5 First-half 2022 results | August 16, 2022

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Disclaimer

Orior AG published this content on August 16, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on August 16, 2022 04:11:10 UTC.

Public now 2022

2022 sales 644M
678M
678M
Net income 2022 29.0 million
30.5 million
30.5 million
Net debt 2022 139M
146 million
146 million
PER 2022 ratio 18.2x
2022 return 3.05%
Capitalization 525 million
552M
552M
EV / Sales 2022 1.03x
EV / Sales 2023 0.98x
# of employees 2,000
Floating 97.9%


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Medium consensus SURPASS
Number of analysts 4
Last closing price CHF80.40
Average target price CHF89.95
Average Spread / Target 11.9%