Sonae Indústria S.G.P.S — Sonae Indústria — Q1 2012 Earnings Presentation
14 slides from Sonae Indústria S.G.P.S's earnings presentation, May 9, 2012
Slide 1: Investors and Analysts Conference Call 1Q12 Results
INVESTORS AND ANALYSTS CONFERENCE CALL 1Q12 RESULTS 9th May 2012
Slide 2: Consolidated Operational Review
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Consolidated turnover in 1Q12 reached 361 million Euros, 3% above 1Q11 Recurrent EBITDA margin recovered 3.8pp from 1Q11 to 1Q12, reaching 32 million Euros, 8,8% of Turnover (when compared with 5,0% in 1Q11) € Mn Consolid
Slide 3: Consolidated Operational Review: Volumes, Prices and Costs
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Quarterly Volumes Sold Millions of m3 2,00 Volumes sold have been increasing in 1,80 1,60 1,39 1,39 1,42 1,32 1,39 almost all countries where we operate 1,40 1,24 1,29 1,27 1,20 1,00 0,80 0,60 0,40 0,20 0,00 2Q10 3Q10 4Q10
Slide 4: Operational Review Iberia
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL OPERATIONAL REVIEW IBERIA In Iberia, during 1Q12 when compared with 1Q11: Turnover increased by 4% and volumes sold were flat Average variable costs are at the same level but fixed costs declined by 5% Recurrent EBITDA Margin increased 3pp to 9.6% €
Slide 5: Operational Review Central Europe: Germany, France and the UK
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL OPERATIONAL REVIEW CENTRAL EUROPE: Germany, France and the UK In Central Europe, when comparing 1Q12 with 1Q11: Turnover increased by 3% and volumes sold were flat Recurrent EBITDA Margin moved 6pp up, illustrating the effectiveness of the restructuri
Slide 6: Operational Review Rest of the World: Canada and S.A.
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL OPERATIONAL REVIEW REST OF THE WORLD: Canada and S.A. In RoW region, when comparing 1Q12 with 1Q11: Volumes sold increased by 1% and turnover by 6% Recurrent EBITDA fell 2pp, due to 6% higher variable costs in S.A. € Mn ROW TURNOVER & RECURRENT EBITDA
Slide 7: Variable Costs Evolution
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Variable costs Evolution QUARTERLY AVERAGE COSTS (eur/m3) BASE 100:1Q10 Production costs were flat in this quarter as we have been benefiting 1,4 by strong efficiency gains. 1,3 1,2 In 2Q12, chemical costs are 1,1 1,0 exp
Slide 8: Volumes Sold and Capacity Utilization
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW VOLUMES SOLD AND CAPACITY UTILIZATION 1Q09: closure of • PB Line in Coleraine Capacity utilization in 1Q12 is 1Q10: closure of (UK) 3Q09: Sale of Duisburg plant 1pp higher when compared to • George plant (S.A.) Brazil (Germ
Slide 9: Managing for Cash
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW MANAGING FOR CASH WORKING CAPITAL increased by 7 million Euros in 1Q12 due to the normal seasonal effect on receivables and payables. INVESTMENTS continue to be closely monitored Additional Fixed Assets Million Euros 40 3
Slide 10: Financial Review: Net Debt / EBITDA
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL FINANCIAL REVIEW Net Debt / Ebitda The Net Debt to Recurrent EBITDA ratio for the last 12 months is 5.8x, which is down from 8.9x, one year ago, and 17.2x in 1Q10. This is the 10th quarter of a strong positive trend in the last 12 months of Recurrent EB
Slide 11: Financial Review: Refinancing
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL FINANCIAL REVIEW Refinancing We continue working in alternatives to refinance well in advance. SCHEDULED LOAN REPAYMENTS* (as of 31st March 2012) 120 100 80 60 112 93 40 78 78 66 58 53 20 31 34 0 1H12 2H12 1H13 2H13 1H14 2H14 2015 2016 ≥2017 Our debt ha
Slide 12: Looking Forward
.. today, tomorrow, let’s be better together! LOOKING FORWARD - CH 2 Use wood, store carbon
Slide 13: Looking Forward
SONAE INDÚSTRIA: EA_1Q12 – CONFERENCE CALL Looking Forward For the coming quarter, we expect to further improve operational efficiencies, to increase sales due to seasonal effects and to sell more value added products. Nevertheless, we forecast upward pressure on market prices due to chemical co
Slide 14: Thank You, Questions?
THANK YOU QUESTIONS? jE} SONAE INDUSTRIA