Grupa Kety Sa · GPW:KTY
Grupa Kety Sa — Q2 2015 Earnings Presentation
14 slides from Grupa Kety Sa's earnings presentation, 2015
Slide 1: Results' Presentation of Second Quarter 2015
RESULTS' PRESENTATION OF SECOND QUARTER 2015 DARIUSZ MAŃKO PRESIDENT & CEO ADAM PIELA BOARD MEMBER & CFO 1
Slide 2: Good Quarter, Optimistic Forecasts
GOOD QUARTER, OPTIMISTIC FORECASTS Foreign sales after the first half of the year reached already 43% of Group sales. The increase in consolidated profit both at the operational level (+ 2%) and net profit (+ 10%). Prices on the market only at the end of the first half began to adjust to the lower E
Slide 3: Macro Factors in the First Quarter 2015
MACRO FACTORS IN THE FIRST QUARTER 2015 Price of aluminium 3M on LME (in USD/t) EUR/PLN 2 200 4,4 4,3 2 000 4,2 4,1 1 800 4 1 600 3,9 Price of aluminium 3M on LME (in PLN/t) USD/PLN 7500 4,1 7000 3,9 3,7 6500 3,5 6000 3,3 5500 3,1 5000 2,9 3
Slide 4: Extruded Products Segment – strong exports, stable domestic sale
EXTRUDED PRODUCTS SEGMENT– strong exports, stable domestic sale Sales revenues Q2_2015 Q2_2014 change 2Q_2015 2Q_2014 change Sales 215,0 175,7 22% 416,8 338,1 23% 250 Increase by 22% yoy domestic 136,7 114,3 20% 262,2 210,7 24% 201,8 215,0 200 199,8 192,7 export 78,3 61,4 28% 154,6 127,5 21% 175,7 1
Slide 5: Aluminium Systems Segment – maintained an upward trend
ALUMINIUM SYSTEMS SEGMENT – maintained an upward trend Sales revenues Q2_2015 Q2_2014 change 2Q_2015 2Q_2014 change Sales 197,8 168,5 17% 368,0 304,2 21% 250 Increase by 17% yoy domestic 130,0 109,7 19% 242,0 197,5 23% 208,2 197,8 200 185,0 170,2 export 67,8 58,9 15% 126,0 106,7 18% 168,5 150 100 50
Slide 6: Flexible Packaging Segment – another quarter of growth in Western Europe
FLEXIBLE PACKAGING SEGMENT – another quarter of growth in the markets of Western Europe Sales revenues Q2_2015 Q2_2014 change 2Q_2015 2Q_2014 change Sales 103,9 92,1 13% 211,1 193,8 9% Increase by 13% yoy 150 domestic 61,3 54,8 12% 120,8 116,2 4% 103,9 export 42,6 37,3 14% 90,4 77,6 16% 100,0 103,6
Slide 7: Building Services Segment – shifting projects result in a drop in sales
BUILDING SERVICES SEGMENT – shifting projects result in a drop in sales Sales revenues Q2_2015 Q2_2014 change 2Q_2015 2Q_2014 change Sales 30,0 37,0 -19% 54,0 77,9 -31% 60 Decrease by 19% yoy domestic 20,5 23,3 -12% 21,4 54,4 -61% export 9,4 13,7 -31% 32,6 23,5 39% 45 37,0 37,1 26,8 30,0 30 24,1 15
Slide 8: Building Accessories Segment – in line with the assumptions
BUILDING ACCESSORIES SEGMENT – in line with the assumptions Sales revenues Q2_2015 Q2_2014 change 2Q_2015 2Q_2014 change Sales 11,1 11,6 -4% 20,0 20,1 0% decrease by 4% yoy 20 domestic 8,3 8,2 1% 15,9 14,9 6% export 2,7 3,4 -18% 4,2 5,2 -20% 15 14,5 11,6 11,1 9,8 8,9 10 5 0 • The increase in the dom
Slide 9: Implementation of Major Investment Projects
IMPLEMENTATION OF MAJOR INVESTMENT PROJECTS Progress EXTRUDED PRODUCTS SEGMENT (from the perspective of payments) 18MN Extrusion press 90% - start up in third quarter ALUMINIUM SYSTENS SEGMENT The construction and extension of buildings 40% Machinery and equipment 60% Automation of logistics 20% FLE
Slide 10: The Delayed Price Adjustments to Changes in the EUR / USD
THE DELAYED PRICE ADJUSTMENTS TO CHANGES IN THE EUR / USD PLN million Q2 2015 Q2 2014 change 2Q 2015 2Q 2014 change Revenues 494,9 438,7 +13% 960,9 851,6 +13 Operating profit 62,2 61,1 +2% 114,5 109,5 +5% margin 12,6% 13,9% 11,9% 12,8% EBITDA 84,2 81,1 +4% 157,9 149,2 +6% margin 17,0% 18,5% 16,4% 17
Slide 11: Increasing Demand for Working Capital
INCREASING DEMAND FOR WORKING CAPITAL Working capital in PLN million 2Q_2014 3Q_2014 4Q_2014 1Q_2015 2Q_2015 600 Working Capital 453 509 496 532 551 509 532 551 496 Inventories 260 285 308 305 327 500 453 Receivables 362 399 363 405 410 400 Liabilities 169 174 175 178 186 300 200 Turnover ratio (in
Slide 12: Stable Financial Position
STABLE FINANCIAL POSITION Bank debt in PLN million • The increase in debt resulting from the need to finance the 300 233,4 investment program. 225,6 233,0 211,9 200 194,4 • Net debt at around 202 million . 100 • Safe indicators net debt / equity (0.17) and net debt / EBITDA 50,8 19,7 30,3 23,3 20,7
Slide 13: Summary
SUMMARY Successful second quarter Management expects very good results of the second half Major projects of the new strategy in line with the schedule 13
Slide 14: Legal Note
Legal Note. This presentation has been prepared by Grupa Kęty S.A. only for informational purposes and it does not form a purchase or sale offer or an offer aiming at soliciting a purchase or sale offer as regards any securities or financial instruments, or the participation in any commercial undert