Sonae Indústria S.G.P.S. S.A

Sonae Indústria S.G.P.S — Sonae Indústria — H1 2011 Earnings Presentation

18 slides from Sonae Indústria S.G.P.S's earnings presentation, August 2011

  1. Slide 1: Highlights of 1H11 Results

    HIGHLIGHTS OF 1H11 RESULTS August 2011

  2. Slide 2: Consolidated Operational Review

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW Comparing 2Q11 with 1Q11:  Turnover increased by 1%, to 356 million Euros  Recurrent EBITDA doubled to 35 million Euros  Net losses increased to 24 million Euros, entirely due to charging non-operational provisions of 25 m

  3. Slide 3: Price and Cost Evolution

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA PRICE AND COST EVOLUTION CONSOLIDATED QUARTERLY AVERAGE PRICES * (eur/m3) BASE 100:1Q07 1,4 1,2  Prices have been moving 1,0 0,8 0,6 0,4 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 3Q10 4Q10 1Q11 2Q11 1Q07 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 PB MDF OSB MFC CONSOLIDATED Q

  4. Slide 4: Capacity Utilization and Volumes Sold

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA CAPACITY UTILIZATION AND VOLUMES SOLD  Capacity utilization in 1H11 is 5pp higher when compared to 1H10 and 16pp higher when compared to1H09. Millions of m 3 12 10,1 9,9 10,1 100% 90% 85% 10,0 9,7 10 75% 77% 79% 8,8 74% 80% 1,6 70% 71% 1,9 2,6 2,9 63% 66%

  5. Slide 5: Chemicals: Urea and Methanol

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA CHEMICALS: UREA AND METHANOL  CHEMICAL COSTS HAVE A SIGNIFICANT IMPACT IN OUR COST STRUCTURE (AROUND 30% VARIABLE COSTS)  UREA AND METHANOL ARE THE MAIN CHEMICALS USED TO PRODUCE RESINS USED IN OUR PRODUCTION NWE ICIS Methanol Prices - Out. 2003_2011 480

  6. Slide 6: Consolidated Operational Review

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW  Consolidated operational figures:  Consolidated turnover in 2Q11 totalled 356 million Euros, representing a marginal increase compared to 1Q11. The Recurrent EBITDA margin increased 5pp up to 10%.  Compared to 1H10, conso

  7. Slide 7: Geographic Review of Operations: Iberia

    HIGHLIGHTS OF 1H11 RESULTS Geographic Review of Operations IBERIA € Mn Iberia Turnover & Recurrent EBITDA Margin  Iberia continued to experience tough market conditions due to the 105 macroeconomic situation and the 99 98 93 84 consequent austerity measures, which are causing a very depressed deman

  8. Slide 8: Geographic Review of Operations: Central Europe

    HIGHLIGHTS OF 1H11 RESULTS Geographic Review of Operations CENTRAL EUROPE (Germany, France and the UK) € Mn Central Europe Turnover & Recurrent EBITDA Margin  In France, comparing 2Q11 with 1Q11, volumes sold were kept but turnover increased by 3% and capacity utilization 195 199 achieved 74%. This

  9. Slide 9: Central Europe: 3 Countries with a Different Recovery Pace

    HIGHLIGHTS OF 1H11 RESULTS Geographic Review of Operations CENTRAL EUROPE (Germany, France and the UK)  3 COUNTRIES WITH A DIFFERENT RECOVERY PACE € Mn RECURRENT EBITDA BY COUNTRY € Mn RECURRENT EBITDA BY COUNTRY 20 25 18,0 15,0 20 15 8,0 15 10 3,0 -0,2 10 1,9 -6,3 5 5 0 0 -5 -5 -10 -10 -15 2Q10 3Q

  10. Slide 10: Geographic Review of Operations: Rest of the World

    HIGHLIGHTS OF 1H11 RESULTS Geographic Review of Operations REST OF THE WORLD (Canada and South Africa) € Mn RoW Turnover &  In Canada, our volumes sold in 2Q11 have Recurrent EBITDA Margin increased 3% compared to 1Q11, turnover in local currency is 6% above 1Q11 and the Recurrent 65 65 62 62 62 EB

  11. Slide 11: Capex, Working Capital

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA CAPEX, WORKING CAPITAL  Additions to Fixed Assets in 1H11 were 12 million Euros, mostly related to investments in essential maintenance, Health & Safety and Environmental improvements.  Working Capital increased by 22 million Euros during 2Q11, mainly due

  12. Slide 12: Net Debt

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA NET DEBT  During 2Q11, Net Debt levels were stable. Compared to 1H10, Net debt reduced by 4 million Euros. The Net Debt to Recurrent EBITDA ratio for the last 12 months is 7.7x, which is down from 13.0x, one year ago. 3Q08: Acq. of 37% Tafisa Brasil and Di

  13. Slide 13: Scheduled Loan Repayments

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA SCHEDULED LOAN REPAYMENTS  As already announced, we raised in July 81 million CADs at Tafisa Canada SCHEDULED LOAN REPAYMENTS* (as of 30th June 2011) 160 140 120 Refinancing already 100 assured 80 148 60 120 40 82 47 54 20 42 44 41 34 0 2H11 1H12 2H12 1H13

  14. Slide 14: Profit & Loss Account

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA PROFIT & LOSS ACCOUNT (euro millions) 2Q11 2Q11 (euro millions) % chg /2Q10 /1Q11 2011/ 2Q10 1Q11 2Q11 1H10 1H11 2010 Consolidated Turnover 339 352 356 5% 1% 659 708 7% Other Operational Income 25 9 12 (53%) 36% 45 20 (55%) EBITDA 24 17 34 40% 99% 18 51 186

  15. Slide 15: Balance Sheet

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA BALANCE SHEET (euro millions) 2010 1Q11 1H 11 Non Current Assets 1.135 1.103 1.081 Tangible Assets 984 953 935 Goodwill 94 93 93 Deferred Tax 40 38 36 Other Non Current Assets 17 19 17 Current Assets 351 383 398 Inventories 129 138 147 Trade Debtors 159 202

  16. Slide 16: Looking Forward

    CR. ayy ... today, tomorrow, ~~ ae let's be better oa~ ees together! LOOKING FORWARD 16

  17. Slide 17: Looking Forward

    HIGHLIGHTS OF 1H11 RESULTS SONAE INDÚSTRIA LOOKING FORWARD  We expect to be able to continue to achieve the recent recurrent EBITDA margin levels, supported by operational efficiency gains and strong markets in Central Europe. However, 3Q11 activity is likely to be affected by the normal summer shu

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