Sonae Indústria S.G.P.S — Sonae Indústria — 9M13 Earnings Presentation
12 slides from Sonae Indústria S.G.P.S's earnings presentation, Nov 15, 2013
Slide 1: Investors and Analysts Conference Call - 9M13 Results
INVESTORS AND ANALYSTS CONFERENCE CALL - 9M13 RESULTS - 15 November 2013
Slide 2: Consolidated Operational Review
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW • During the 9M13, consolidated turnover totaled 939 million Euros, 7% lower than the 9M12. • Recurrent EBITDA was 63 million Euros in the 9M13, which translated into a recurrent EBITDA margin of 6.7%, down by 0.8 pp versus l
Slide 3: Consolidated Operational Review: Volumes, Prices and Costs
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Quarterly Volumes Sold Millions of m 3 1.32 1.27 1.40 1.34 • Comparing 9M13 to 9M12 sales 1.20 1.22 1.22 1.24 1.14 volumes were down by 8.6%. • On a quarterly basis, and comparing with 3Q12, sales volumes were down by 4.7%. 3
Slide 4: Consolidated Operational Review: Variable Costs
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Variable Costs QUARTERLY AVERAGE COSTS (eur/m3) BASE 100:1Q11 • Variable costs moved up 1% from 1.3 9M12 to 9M13. 1.2 • Compared to 2Q13, wood costs 1.1 were relatively stable overall, but 1.0 due to improvements in chemicals
Slide 5: Volumes Sold & Capacity Utilisation
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Volumes Sold & Capacity Utilisation 1Q09: closure of 4Q09: closure of • PB Line in Coleraine (UK) Kaisersesch plant (Germany) • George plant (S.A.) 4Q12: closure of Solsona 2Q10: Sale of plant (Spain) 3Q09: Sale of Brazil ope
Slide 6: Managing for Cash
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Managing for Cash • We continue to focus on cash management with strict controls over new investments and a rigorous working capital management. WORKING CAPITAL: 1Q10 - 9M13 € Mn • WORKING CAPITAL was 31 million Euros 200 bel
Slide 7: Operational Review | Southern Europe
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL OPERATIONAL REVIEW | SOUTHERN EUROPE • 9M13 Turnover and sales volumes reduced by circa 7%, with the negative contribution from the Iberian Peninsula (-15%), being partially offset by an improved performance in France (+10%). • Average selling prices increa
Slide 8: Operational Review | Northern Europe
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL OPERATIONAL REVIEW | NORTHERN EUROPE • Compared to 9M12, 9M13 Volumes sold decreased by 2.7% (negative evolution experienced in the particleboard market, but improved volumes in OSB). • The pressure felt in terms of wood and combustibles costs, contributed
Slide 9: Operational Review | Rest of the World
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL OPERATIONAL REVIEW | REST OF THE WORLD • Volumes sold from plants located in the Rest of the World (RoW) segment decreased by 2% during the 9M13, when compared to last year. • Total Turnover for the RoW also decreased by 4.8%, when compared to the 9M12, mos
Slide 10: Financial Review | Net Debt
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL FINANCIAL REVIEW | NET DEBT • Comparing to 1H13, Net Debt decreased by 5 million EUR and is mainly the result of an improvement in Working Capital. Net Debt ND/Rec. EBITDA (Million euros) 950 25.0 x Net debt 900 Net debt to LTM Rec. EBITDA 20.0 x 850 15.0 x
Slide 11: Financial Review | Refinancing
SONAE INDÚSTRIA: EA 9M13 – CONFERENCE CALL FINANCIAL REVIEW | REFINANCING • As part of the defined financing strategy, we have been negotiating the refinancing of most of the 2013 debt maturities, seeking to extend the average life of our credit facilities SCHEDULED LOAN REPAYMENTS* (as of 30th Sept
Slide 12: Thank You - Questions?
THANK YOU QUESTIONS? (>) sonae INDUSTRIA