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Luxfer PLC(LXFR) - 2020 Q2 - Earnings Call Presentation
Luxfer PLCLuxfer PLC(US:LXFR)2020-07-28 12:07

Financial Performance - Sales decreased by 21.1% due to the impact of COVID-19[7], excluding the divested Czech Recycling Business[7, 8, 19, 20, 28, 31, 60, 62, 64, 65] - Adjusted EBITDA decreased by 49% to $10.4 million, with a margin decrease of 570 basis points to 11.6%[7] - Adjusted diluted EPS decreased by 61% to $0.17 due to COVID-19 impact[7] - Net cost savings of $0.7 million were achieved, staying on track with transformation plan savings[7, 28] Cash Flow and Capital Allocation - Free Cash Flow was $12.1 million, including $1.6 million in restructuring spend[7] - Net Debt was reduced by $9.1 million to $82.4 million, resulting in a Net Debt to EBITDA ratio of 1.5x[7] - Quarterly dividend payout was $3.4 million, or $0.125 per share[7] - ROIC decreased by 380 basis points from year-end to 12.7%[7] Segment Results (Q2 2020) - Elektron segment sales decreased by 29.3% to $39.1 million, and EBITDA decreased by 59.5% to $5.3 million[31, 55] - Gas Cylinders segment sales decreased by 13.3% to $50.4 million, and EBITDA decreased by 28.2% to $5.1 million[31, 58] Transformation Plan - The company is on track to deliver $24 million in net cost reductions by the end of next year[24] - $16 million of net cost savings have been achieved through cost reduction and waste elimination[24, 25, 26]