INVESTOR PRESENTATION - August 2021 - Turpaz
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INVESTOR
PRESENTATION
August 2021
1 1
DISCLAIMER This presentation was prepared by Turpaz Industries Ltd. (the "Company") for the sole purpose of conveying
information regarding the Company and its subsidiaries (together with the Company "Turpaz Group"). This
presentation does not constitute, or form part of, an offer to sell, or a solicitation of an offer to purchase any
securities of the Company and is intended to provide information only. This presentation is not intended to
replace the need to review the Company's full reports to the Securities Authority and the Tel Aviv Stock
Exchange Ltd. including, inter alia, the Company's periodic reports for the first half of 2021 and immediate
reports (hereinafter: “Company Reports”) prior to making a decision regarding investment in the Company's
securities.
In addition, this presentation cannot replace investment consulting by a lawfully licensed investment consultant.
This presentation includes statements data, forecasts, goals and Company plans that are "forward-looking
statements“, as defined in the Securities Law - 1968, whose occurrence is not certain, and which are not solely
in the Company's control. These forward-looking statements are included, inter alia, in discussions of strategy,
objectives, goals, plans, events, future intentions or other information relating to future events or issues whose
occurrence is not certain.
By their nature, forward-looking statements involve risk and uncertainty. Whether the forward-looking
information occurs or not is affected, inter alia, by risk factors characteristic to the Company's operations and
developments in the general environment and external factors which impact the Turpaz Group and its area of
activities.
Subject to the requirements of applicable law, the Company does not intend to update any industry information
or forward-looking statements appearing in this presentation and is not required to publish any additional
presentations for its shareholders in future.
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TURPAZ -
A LEADING
GLOBAL
F&F COMPANY Founded 8 globally 260 Multinational
in 2011 Production sites employees fragrance &
25 in R&D flavor house
(5 PhD) with specialty
ingredients site
Scent Double digit growth IPO on TASE
Taste via organic growth in May 2021 &
Pharma intermediates and M&A Trade on TA-SME60
Specialty ingredients since August 2021
3
DOUBLE DIGIT GROWTH
Revenues (M $) Adj. EBITDA (M $)
CAGR 52.7 CAGR
2018 – 92% 2018 – 141%
2020 2020
75.4% 39.4
32.1 14
72%
9.8
22.4 [-]%
5.7
14.2 13.4% 18.7% 5.9
Organic
Organic 2.4
Growth
Growth
2018 2019 2020 H1 2020 H1 2021 2018 2019 2020 H1 2020 H1 2021
4
REVENUES 52.7
AND Flavors Fragrances
OPERATING 13.6
P P - Intermediates S S - Intermediates
PROFIT 39.4
BREAKDOWN
BY SECTOR
7.1
32.2
($M)
14.2
12.5
9.5 9.5
22.5 3.1
9.3
6.8 2
7.7 9.6 6.8 3.5
15.1
14.2
2 5.1 2.9
6.3
1.5 1.6
12.1
13.6 2.3 5
13.2
1.4 3.6
9.8 7 3.2
2.4 2
0.9 0.8
2.1 2.3 1.5 0.1 0.1
2018 2019 2020 H1 2020 H1 2021
2018 2019 2020 H1 2020 H1 2021
Revenues Operating Profit
5
REVENUES 2020
BREAKDOWN 46%
Europe
BY TERRITORY 21%
Middle East
17%
North America
16%
Asia & ROW
H1 2021
33%
Europe
23%
Middle East
32%
North America
12%
Asia & ROW
6
HIGHLY EXPIRIENCED MANAGEMENT TEAM
KAREN EYAL OHAD ARI YONI
COHEN - KHAZON AZULAY BLUSTEIN ROSENTHAL ADINI
Chairperson & CEO VP VP Finance VP Food Division General Counsel
CEO, Chemada
CINDY MICHAEL MOSHE AVISHAI
NGUYEN REISS KATZ MORDEHOVICH
CEO, WFF President, CEO, CEO, SDA
Pollena Aroma Turpaz USA
7
INFLUENCING
EVERY SENSE
OF LIFE HAIR CARE WET WIPES FINE
FRAGRANCES
SOFT DRINKS ICE CREAM
MAKEUP BODY CARE & CONFECTIONERY DIETARY BAKERY
TOILETRIES SUPPLEMENTS
COSMETICS SCENTED COFFEE PHARMA DAIRY
CANDELS
HOME FABRIC CARE FRUITS ENERGY HERBS & SPICES
FREGRANCES BARS
8 ORAL CARE FLAVORS FOR CBD FLAVORS FOR ODOR CITRUS
PRODUCTS TOBACCO NEUTRALIZERS
THE
”GOLDEN Fragrance Flavor
TRIANGLE”
Pharma & Specialty
Ingredients
9
P S
Multinational Company Poland
1 site
Sales
Production
R&D
Israel
5 sites
USA Sales
Production
1 site R&D
Sales
Production
R&D
Vietnam
1 site
Sales
Production
R&D
10STRATEGY –
THINK GLOBAL,
ACT LOCAL Innovation
Organic
growth
Leverage
synergies
New
markets
M&A
New
New customers
products
11ACQUISITIONS
STRATEGY
Small and medium Inefficient Loyal Relatively low
size local businesses management customers EBITDA multiples
in Europe, Asia and base
North America
Revenues – Significant Significant Unique
up to growth synergetic products or
$25 M potential advantages technologies
12PROVEN TRACK RECORD OF ACQUISITIONS
2016 2017 2018 2019 2020 2021
implementation Pollena Intuiscent Continental Florasynth Pipeline
of acquisition Aroma 100% 100% Aromatics 100% 100% (Flavors) candidates
strategy (F&F) (Fragrance) (Fragrance)
SDA
51% (Flavors)
Eden Essentials Chemada WFF
100% (F&F) 100% (Specialty 60% + option 40%
ingredients) (F&F)
13ORGANIC
GROWTH
STRATEGY
Strengthening Improving supply Expanding global
research, development chain processes and marketing & sales
& innovation systems production arrays network deployment
Fast response to Enhance synergies
customer needs among the Group
based on experience
14FINANCIALS 15
P&L – K$ 2018 2019 2020 H1 2020 H1 2021
SIGNIFICANT Revenues 14,260 32,187 52,730 22,485 39,444
GROWTH Gross Profit 5,138 11,737 21,824 9,452 15,780
GP% 36.0% 36.5% 41.4% 42.0% 40.0%
R&D costs / Expenses 432 550 862 311 889
Management &
2,704 6,820 6,625 3,122 4,032
General expenses
Sales & Marketing
924 2,968 3,848 1,785 2,688
expenses
Other Expense
)178( )4,130( 304 60 167
(Income)
Operating Profit 1,256 5,529 10,185 4,174 8,004
OP% 8.8% 17.1% 19.3% 18.6% 20.3%
Net Profit 713 3,969 8,131 3,251 6,317
Adj. EBIDTA 2,365 5,903 14,025 5,726 9,854
% 16.6% 18.3% 26.6% 25.5% 25.0%
Net Cash flow from
999 3,065 11,151 4,945 4,907
operation
16BALANCE K$ 31.12.2020 30.6.2020 30.6.2021
SHEET
Assets
Current Assets 35,258 23,007 99,368
Non-Current Assets 35,132 22,563 34,790
Total Assets 70,390 45,570 134,158
Liabilities & Equity
Current Liabilities 29,121 13,758 26,594
Non-Current Liabilities 28,491 21,682 26,582
Equity 12,778 10,130 80,982
Total Liabilities and Equity 70,390 45,570 134,158
17SUMMARY
Global F&F company Double digit growth Management
with customer based on organic with vast
intimacy growth and M&A experience
Operating in a growing Supplying to all
industry that benefits customers (SMB) -
from positive drivers that ONE STOP SHOP
support continued growth solutions
18THANK
YOU
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