Ccl Industries Inc. Class A · TSX:CCL.A
Ccl Industries Inc. Class A — Q1 2013 Earnings Presentation
16 slides from Ccl Industries Inc. Class A's earnings presentation, May 2, 2013
Slide 1: Investor Update 1st Quarter 2013 Review
CCL Industries Inc. Investor Update 1st Quarter 2013 Review May 2, 2013
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information and forward-looking statements (hereinafter collectively referred to as “forward-looking statements”), as defined under applicable securities laws, that involve a number of risks and uncertainties. Forward-looking statements include a
Slide 3: Statement of Earnings
Statement of Earnings First Quarter Ended March 31st (Millions of Cdn$) Excluding Currency 2013 2012 Change Translation Sales $ 363.6 $ 341.4 +7% +6% Operating income* 61.9 52.6 +18% +17% Corporate expense 7.5 6.5 +15% 54.4 46.1 Finance cost, net 5.2 5.2 - 49.2 40.9 Restructuring and other items 1.3
Slide 4: Earnings per Class B Share
Earnings per Class B Share Periods Ended March 31st Twelve Three Months Months Per Class B Share 2013 2012 Change Net earnings - basic $ 1.01 $ 0.91 +11% Diluted earnings $ 0.99 $ 0.89 +11% Restructuring and other items - loss $ 0.03 $ - Adjusted basic earnings* $ 1.04 $ 0.91 +14% Adjusted basic ear
Slide 5: Cash Flow Highlights
Cash Flow Highlights Periods Ended March 31st (Millions of Cdn$) Statement of Cash Flows Free Cash Flow* Three Months Ended March 31st 106.8 97.3 2013 2012 Net earnings $ 34.1 $ 30.4 Adjustments for: Depreciation & amortization 26.6 25.1 Net finance cost 5.2 5.2 Equity accounted investments (0.4) (0
Slide 6: Cash & Debt Summary
Cash & Debt Summary As At March 31st (Millions of Cdn$) Increase 2013 2012 (Decrease) Long-term debt - senior notes (2013 - US$ 319.0 MM, 2012 - US$ 328.4 MM) $ 324.1 $ 327.5 $ (3.4) Debt - all other 9.4 18.8 (9.4) Total debt 333.5 346.3 (12.8) Less: Cash and cash equivalents (189.6) (141.9) (47.7)
Slide 7: Capital Spending Highlights
Capital Spending Highlights First Quarter Ended March 31st (Millions of Cdn$) Capital Divisions Spending Depreciation( 1 ) Difference Label $ 38.4 $ 21.6 $ 16.8 Container 0.8 3.6 $ (2.8) Corporate - 0.1 $ (0.1) $ 39.2 $ 25.3 $ 13.9 (1) excludes amort izat ion of int angibles and ot her asset s • Pla
Slide 8: Label
Label First Quarter Ended March 31st (Millions of Cdn$) Excluding Currency 2013 2012 Change Translation Sales $ 312.2 $ 295.3 +6% +6% Operating income* $ 56.6 $ 50.2 +13% +12% Return on sales 18.1% 17.0% EBITDA* $ 79.4 $ 71.6 +11% +11% % of Sales 25.4% 24.2% The following commentary is based on cons
Slide 9: Label: North America (42% of Label sales)
Label First Quarter Ended March 31st (Millions of Cdn$) North America (42% of Label sales) • Healthcare & Specialty results strong on top of a very good 1Q12. • HPC sales mixed: tube strong/label soft; profits down on a strong prior year; good operating margin maintained. • Sleeve sales strong; prof
Slide 10: Label: Europe (37% of Label sales)
Label First Quarter Ended March 31st (Millions of Cdn$) Europe (37% of Label sales) (incl. Eastern Europe) • HPC sales down slightly; focus on cost and productivity underpinned significant improvement in profitability. • Sales at Healthcare & Specialty flat; profitability improved on cost reductions
Slide 11: Label: Emerging Markets (21% of Label sales)
Label First Quarter Ended March 31st (Millions of Cdn$) Emerging Markets (21% of Label sales) (Asia, Latin America, Australia & South Africa) • Double digit sales gains in Latin America drove robust profitability; good recovery in Brazil after soft 2H12. • Strong double digit sales gains across Asia
Slide 12: Label Joint Ventures
Label Joint Ventures Periods Ended March 31st (Millions of Cdn$) Three Months Results at 100% 2013 2012 Sales $ 16.0 $ 13.5 Net income (loss) $ 0.8 $ 1.7 EBITDA $ 2.3 $ 2.1 % of Sales 14.4% 15.6% CCL equity share* $ 0.4 $ 0.8 • Unusual prior year one time gain in Russia: revaluation rouble-euro. Sal
Slide 13: Container
Container First Quarter Ended March 31st (Millions of Cdn$) Excluding Currency 2013 2012 Change Translation Sales $ 51.4 $ 46.1 +11% +10% Operating income* $ 5.3 $ 2.4 +121% +116% Return on sales 10.3% 5.2% EBITDA* $ 8.9 $ 5.9 +51% +48% % of Sales 17.3% 12.8% The following commentary is based on con
Slide 14: Operating Income
Operating Income* First Quarter Ended March 31st (Millions of Cdn$) Excluding Currency 2013 2012 Change Translation Label $ 56.6 $ 50.2 +13% +12% Container 5.3 2.4 +121% +116% Operating income* $ 61.9 $ 52.6 +18% +17% Sales $ 363.6 $ 341.4 +7% +6% Return on sales 17.0% 15.4% EBITDA* $ 81.0 $ 71.2 +1
Slide 15: Avery OCP & DES acquisition
Avery OCP & DES acquisition • Regulatory filings approved. Close expected early Q3; many transition activities underway. • $550k million in transaction-related fees in Q1; additional $1+ million including financing fees in Q2. • OCP internationally and DES performed to expectations in Q1. • OCP US h
Slide 16: Summary & Outlook
Summary & Outlook • Pleased with record start to 2013. • Q2 Container growth rate will moderate significantly as 1H12 sun care seasonal abnormality is lapped. • Q1 order intake very solid, tailed off late March, April continued slower. • Many customers reported solid organic growth in Q1; some signa