Ccl Industries Inc. Class A · TSX:CCL.A
Ccl Industries Inc. Class A — Q4 2015 Earnings Presentation
16 slides from Ccl Industries Inc. Class A's earnings presentation, Feb 25, 2016
Slide 1: Investor Update 4th Quarter 2015
Investor Update 4th Quarter 2015 February 25, 2016
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
Slide 3: Statement of Earnings
Statement of Earnings Periods Ended December 31st Three months Change Twelve months Change (millions of CDN $) 2015 2014 Reported Ex FX 2015 2014 Reported Ex FX Sales $ 798.8 $ 635.8 +26% +16% $ 3,039.1 $ 2,585.6 +18% +10% Operating income(1) 122.6 85.0 +44% +34% 496.6 369.9 +34% +27% Corporate expe
Slide 4: Earnings per Class B Share
Earnings per Class B Share Periods Ended December 31st Three months Twelve months Per Class B Share 2015 2014 Change 2015 2014 Change Net earnings - basic $ 2.05 $ 1.33 +54% $ 8.50 $ 6.31 +35% Net loss from restructuring and other items 0.11 0.18 0.11 0.22 Adjusted basic earnings(1) $ 2.16 $ 1.51 +4
Slide 5: Cash Flow
Cash Flow Periods Ended December 31st (millions of CDN $) Free Cash Flow(2) $320.7 $264.1 $144.7 $100.7 Q4 2015 Q4 2014 YTD December 2015 YTD December 2014 Page 5
Slide 6: Cash & Debt Summary
Cash & Debt Summary December December (millions of CDN $) 2015 2014 Senior Notes LTD (US$239.0MM) $ 330.8 $ 277.3 Non-revolving LTD (US$238.0MM and EUR61.6MM) - 362.6 Revolving LTD (US$208.0MM, EUR61.6MM and GBP134.0MM) 653.9 - Debt - all other 20.8 19.2 Total debt 1,005.5 659.1 Less: Cash and cash
Slide 7: Capital Spending
Capital Spending Twelve Months Ended December 31st, 2015 Capital Divisions Spending Depreciation(*) Difference Label $ 145.9 $ 124.3 $ 21.6 Avery 13.8 12.1 1.7 Container 12.5 15.2 (2.7) Corporate - 0.3 (0.3) $ 172.2 $ 151.9 $ 20.3 (*) excludes amortization of intangibles and other assets • Partly fu
Slide 8: Label
Label Periods Ended December 31st Three months Change Twelve months Change (millions of CDN $) 2015 2014 Reported Ex FX 2015 2014 Reported Ex FX Sales $ 553.1 $ 433.4 +28% +19% $ 2,030.3 $ 1,718.3 +18% +12% Operating income(1) $ 81.9 $ 58.0 +41% +32% $ 317.2 $ 242.7 +31% +25% Return on Sales 14.8% 1
Slide 9: Label
Label Emerging Fourth Quarter Ended December 31st Markets 21% North America North America Europe (incl. Eastern Europe) 48% Europe 31% • Healthcare & Specialty • Strong Healthcare & mixed: AgChem improved, Specialty results in all Sennett outperformed, geographies Label Sales by Geography Healthcare
Slide 10: Label Joint Ventures
Label Joint Ventures Periods Ended December 31st Results at 100% Three months Twelve months (millions of CDN $) 2015 2014 2015 2014 Sales $ 30.0 $ 25.0 $ 106.7 $ 84.6 Net income (loss) $ 3.9 $ 4.2 $ 9.1 $ 7.3 EBITDA $ 7.0 $ 5.9 $ 19.8 $ 14.1 % of Sales 23.3% 23.6% 18.6% 16.7% CCL equity share (*) $
Slide 11: Avery
Avery Periods Ended December 31st Three months Change Twelve months Change (millions of CDN $) 2015 2014 Reported Ex FX 2015 2014 Reported Ex FX Sales $ 191.2 $ 154.6 +24% +11% $ 782.7 $ 666.4 +17% +7% Operating income(1) $ 34.4 $ 22.9 +50% +38% $ 152.8 $ 109.3 +40% +29% Return on Sales 18.0% 14.8%
Slide 12: Container
Container Periods ended December 31st Three months Change Twelve months Change (millions of CDN $) 2015 2014 Reported Ex FX 2015 2014 Reported Ex FX Sales $ 54.5 $ 47.8 +14% +6% $ 226.1 $ 200.9 +13% +6% Operating income(1) $ 6.3 $ 4.1 +54% +42% $ 26.6 $ 17.9 +49% +40% Return on Sales 11.6% 8.6% 11.8
Slide 13: Summary
Summary Periods ended December 31st Three months Change Twelve months Change (millions of CDN $) 2015 2014 Reported Ex FX 2015 2014 Reported Ex FX Label $ 81.9 $ 58.0 +41% +32% $ 317.2 $ 242.7 +31% +25% Avery 34.4 22.9 +50% +38% 152.8 109.3 +40% +29% NM Container 6.3 4.1 +54% +42% 26.6 17.9 +49% +40
Slide 14: Outlook
Outlook • 2016 order levels solid so far • C$ translation tailwind at today’s rates • Easter occurs Q1 2016 vs Q2 2015 • Volatile currency issues in Emerging Markets continue • Raw materials cost environment benign, FX aside • Strong acquisition pipeline, considerable balance sheet capacity Page 14
Slide 15: Questions
Questions Page 15
Slide 16: Definitions Appendix
Definitions Appendix (1) Non-IFRS measure; see MD&A dated December 31, 2015 for definition (2) Free Cash Flow from Operations (non-IFRS measure) = cash from operating activities less capital expenditures, net of proceeds from sale of property, plant and equipment Page 16