Slide 1: Analyst Presentation August 2004
CAPRAL ALUMINIUM LIMITED Analyst Presentation August 2004 e Half Year Results - Half Year Ended 30 June 2004 e Bremer Park Update e Strategic Imperatives © Coa ALUMINIUM AHA
Slide 2: Half Year Results
Half Year Results Half Year Ended 30 June 2004 © Coa ALUMINIUM
Slide 3: Earnings Summary
Earnings Summary Half Year 30 June 2004 Revenue from operating activities Revenue from outside the operating activities Total Revenue EBITDA D&A EBIT Interest Expense (Loss)/Profit Before Taxation Taxation (Expense) Benefit Profit After Taxation 2004 | 169,496| 186,181 1,790 483 171,286| 186,664 (14
Slide 4: Underlying Performance
a li NNN Underlying Performance Half Year 30 June 2004 Revenue from operating activities Sales Revenue Australia - core business Other (primarily scrap sales) * LME movement year on year represents a shift of approximately $99 per tonne generating a notional revenue decline of $2.5min 2004 EBIT Sign
Slide 5: Half Year Sales Tonnes by Segment
Half Year 02 to 04 Sales Tonnes by Segment 30,000 25,000 20,000 15,000 10,000 §,000 Core Sales (Tonnes) © 2002 29,415 m@ 2003 27,143 © 2004 25,169 © Coa ALATA Pt
Slide 6: Capral Monthly Tonnage
Capral Monthly Tonnage 2] 2002 m 2003 ©) 2004 Jan Feb Mar Apr May Jun © Coa ALATA Pt
Slide 7: Overhead Analysis
Overhead Analysis Half Year 30 June 2004 Warehouse Overheads Selling Expenses Information Technology Corporate Overheads Total Australia ae 2004 Hy 2003 FY 2003 ive 5,702 10,460 4,874 14,781 31,751 15,488 4,342 8,703 4,335 5,426 13,006 6,017 30,251 63,920 30,714 © Coa ALATA Pt
Slide 8: Balance Sheet
h ‘o TninT TT Balance Sheet Half Year 30 June 2004 Current Assets & Liabilities Cash Receivables Inventories Payables Borrowings Provisions Other Total Long Term Assets & Liabilities Receivables Tangible Fixed Assets Intangible Assets Deferred Tax Assets Investments in associates Deferred Tax Liabil
Slide 9: Operating Working Capital Performance
Operating Working Capital Performance (excluding Borrowings, Cash & Taxation) 2004 HY | 2003 FY | 2003 HY Current Assets Receivables 62,185 61,687 59 317 Inventories 44,037 48,132 49,390 Other Current Assets 4,139 4,313 2,484 Current Liabilites Payables (61,547)| (54,274) (42,909) Other Provisions (
Slide 10: Cash Flow
Cash Flow Half Year 30 June 2004 E ee — 000's . a | 2004HY | 2003FY | 2003HY | Net Cash Inflow /{Outflow) from Operating Activities (5,763) (2,652) (4,633) Cash Flows from investing Activities Capital Expenditure (24,163) (64,977) (28,632) Proceeds from Sale of PP&E 2,297 19,720] 514 Payments for In
Slide 11: Project Expenditure
Project Expenditure Bremer Park Budget Spent To Spend Bremer Park $91.4m $81.9m $9.5m Capex Operational $3.4m $1.1m $2.3m Readiness Project @ Coa ALATA Pt
Slide 12: Restructuring
Restructuring 2004HY 2004FY 2003 HY Actual Forecast Actual Redundancies $8.1m $11.0m $0.0m Restructuring $2.6m $3.0m $0.7m Costs @ Coa ALATA Pt
Slide 13: Renounceable Rights Issue
Renounceable Rights Issue June 2004 Highlights * 16,219,446 shares allotted @ $2.00 * 13,929,052 shares(being approximately 85.9%) were accepted ¢ 2,290,394 taken up by GPG — as underwriter Summary Shares issued @ $2.00 $32.4m Costs associated with issue $0.7m Total share capital $31.7m @ Coa ALATA
Slide 14: Bremer Park Update
Bremer Park Update © Coa ALUMINIUM
Slide 15: Bremer Park Aerial ~ June 2004
Bremer Park Aerial ~ 30 June 2004 © Coa ALATA Pt
Slide 16: View of Bremer Park from Warrego Highway
View of Bremer Park from Warrago Highway © Coa ALATA Pt mT
Slide 17: The side/rear view of Bremer Park
Slide 18: What is the current Bremer Park rollout plan? Extrusion
What is the current Bremer Park rollout plan? Extrusion The first new press (8”) became operational on Monday 16 August. A second 7” press (old QL2) will commence on Monday 30'* August. Once these two presses are extruding quality product at a rate that exceeds the current Minto presses, MT1 and MT2
Slide 19: First Extrusion from New Press
First Extrusion from New Press ~ 16 August 2004 ~ i i aN IA
Slide 20: Bremer Park rollout plan: Paint
What is the current Bremer Park rollout plan? Paint Bremer Park will have two state of the art vertical paint lines. The first will be operational on 13° September with the second to follow on 18 October. © Coa ALATA Pt
Slide 21: Bremer Park rollout plan: Anodising
What is the current Bremer Park rollout plan? Anodising The Bremer Park anodising facility comes on line week commencing 8° November © Coa ALATA Pt TM
Slide 22: Bremer Park rollout plan: Warehouse
What is the current Bremer Park rollout plan? Warehouse The new Bremer Park automated warehouse will be in operation during December © Coa ALATA Pt
Slide 23: Plant capabilities: Dies
What are the plant capabilities? Dies: We have a die warehouse with an automatic retrieval and put away process. This warehouse holds 18,000 dies with room to expand to 27,000 dies. © Coa ALATA Pt
Slide 24: Plant capabilities: Extrusion
What are the plant capabilities? Extrusion: Capacity of 59,000 tonnes per year with 4 presses. We have two additional press bays that allows us to expand our capacity to 88,000 tonnes. © Coa ALATA Pt
Slide 25: Plant capabilities: Paint
What are the plant capabilities? Paint: Capacity of 47,000 tonnes per year. Wood grain and marble finishing coming on line in 2005. © Coa ALATA Pt
Slide 26: Plant capabilities: Anodising
What are the plant capabilities? Anodising: Capacity of 8,700 tonnes per year with capability to add an additional tank, increasing capacity to 12,000 tonnes per year. « Standard finishes * Bright * Interference colour range comes on line in 2005 © Coa ALATA Pt
Slide 27: Plant capabilities: Packing
What are the plant capabilities? Packing: Packing is an automated process designed to give major protection to our product Extrusion will be sub bundled then fed through a spiral wrapper before being packed in to a master bundle. The automated process ensures tight, secure bundles reducing risk of d
Slide 28: Plant capabilities: Warehouse
What are the plant capabilities? Warehouse: The automated Bremer warehouse has holding capacity for 2,280 sku’s There is capability to expand this warehouse to 6,840 sku’s © Coa ALATA Pt
Slide 29: MRA
MRA
Slide 30: Strategic Initiatives
Strategic Initiatives © Coa ALUMINIUM LAA
Slide 31: Critical Success Factors
Critical Success Factors e That Bremer Park is commissioned on schedule and achieves the projected efficiency levels. « That the reconfiguration of the supply chain and warehouses provides the service and cost outcomes. « That Capral develops a flat products value adding centre in each Capital City.
Slide 32: Capral Through Three Phases
Capral Through Three Phases YEARS 0-2 YEARS 3-5 2004 2004-2005 2006-2008 © Coa ALATA Pt | iii
Slide 33: Model for Success
s Model for Success 3 Capral © i ALATA Pt CM.
Slide 34: ©
© Coa ALATA Pt