Sonae Indústria S.G.P.S. S.A

Sonae Indústria S.G.P.S — Sonae Indústria — Q1 2011 Earnings Presentation

15 slides from Sonae Indústria S.G.P.S's earnings presentation, May 12, 2011

  1. Slide 1: 1Q11 Results Investors and Analysts Conference Call

    1Q11 RESULTS INVESTORS AND ANALYSTS CONFERENCE CALL 12th May 2011 1

  2. Slide 2: Consolidated Operational Review

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW  EBITDA RECOVERED 3PP FROM 1Q10 TO 1Q11  EBITDA RECOVERED FROM 14 MIL. € IN 4Q10 TO 18 MIL. € 1Q11  TURNOVER INCREASED BY 10% € Mn Consolidated Turnover & € Mn Consolidated Recurrent EBITDA Recurrent EBITDA Margin 28 339 3

  3. Slide 3: Operational Review: Iberia

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL OPERATIONAL REVIEW IBERIA  IN IBERIA, WE WERE ABLE TO RECOVER MARGIN RECURRENT EBITDA FROM 5% IN 4Q10 TO 7% IN 1Q11 DESPITE HIGHER VARIABLE COSTS € Mn TURNOVER & RECURRENT EBITDA IBERIA 140 30,0% 120 Comparing with 4Q10 25,0% 99 98 100 92 93 84 20,0%  Tur

  4. Slide 4: Operational Review: Central Europe: Germany, France and the UK

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL OPERATIONAL REVIEW CENTRAL EUROPE: Germany, France and the UK  IN CENTRAL EUROPE, FROM 4Q10 TO 1Q11, WE WERE ABLE TO RECOVER 1.6PP RECURRENT EBITDA MARGIN AND 17% TURNOVER € Mn TURNOVER & RECURRENT EBITDA CENTRAL EUROPE 200 195 195 11,0% 190 185 181 6,0% 1

  5. Slide 5: Operational Review: Central Europe: 3 countries with different recovery pace

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL OPERATIONAL REVIEW CENTRAL EUROPE: Germany, France and the UK  3 COUNTRIES WITH A DIFFERENT RECOVERY PACE € Mn RECURRENT EBITDA BY COUNTRY 15 8,0 3,0 10 -0,2 1,9 5 0 -5 -10 -8,2 1Q10 2Q10 3Q10 4Q10 1Q11 UK France Germany 5

  6. Slide 6: Operational Review: Rest of the World: Canada and S.A.

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL OPERATIONAL REVIEW REST OF THE WORLD: Canada and S.A.  IN ROW REGION, RECURRENT EBITDA MARGIN DECLINED WHEN COMPARED O LAST YEAR DUE TO MUCH HIGHER VARIABLE COSTS € Mn ROW TURNOVER & RECURRENT EBITDA 65 65 62 62 59 18,8% 16,3% 12,7% 15,8% 17,0% 1Q10 2Q10 3

  7. Slide 7: Consolidated Operational Review: Variable Costs

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW VARIABLE COSTS CONSOLIDATED QUARTERLY AVERAGE COSTS (eur/m 3) BASE 100:1Q10  WOOD AND CHEMICAL 1,4 COSTS HAVE BEEN 1,2 INCREASING OVER THE 1,0 LAST 2 YEARS 0,8 0,6 0,4 1Q10 2Q10 3Q10 4Q10 1Q11 Chemicals Wood CONSOLIDATED QUA

  8. Slide 8: Consolidated Operational Review: Average Prices

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW AVERAGE PRICES CONSOLIDATED QUARTERLY AVERAGE PRICES (eur/m3) BASE 100:1Q10  PRICES HAVE BEEN IMPROVING 1,4 1,2 1,0 0,8 0,6 0,4 1Q10 2Q10 3Q10 4Q10 1Q11 PB MDF OSB MFC CONSOLIDATED QUARTERLY AVERAGE PRICES (eur/m3) BASE 100:

  9. Slide 9: Volumes Sold and Capacity Utilization

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL OUR RESTRUCTURING PROCESS VOLUMES SOLD AND CAPACITY UTILIZATION 2Q08: Stoppage of 2Q09: closure of 4Q09: closure of • MDF Line 1 in Meppen • Châtellerault and St. Kaisersesch 2Q10: Sale of (Germany) Dizier plants (France) plant (Germany) Lure plant (France)

  10. Slide 10: Managing for Cash

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL OUR RESTRUCTURING PROCESS MANAGING FOR CASH  WORKING CAPITAL HAS BEEN STABLE, DESPITE ACTIVITY INCREASE  CASH CONVERSION CYCLE DECLINED 2 DAYS WHEN COMPARED TO THE END OF 2010 AND 22 DAYS WHEN COMPARED WITH 1Q10  INVESTMENTS HAVE BEEN MINIMIZED Additiona

  11. Slide 11: Net Debt

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL OUR RESTRUCTURING PROCESS NET DEBT 3Q08: Acq. of 37% Tafisa Brasil and Dividends Payment 3Q09: Sale of Milion of Euros Brazil operations 950 Sale of 900 27 22 Lure plant 13 76 850 37 126 800 54 890 890 895 79 864 13 750 827 827 3 17 11 700 769 757 757 732 7

  12. Slide 12: Financial Review: Refinancing

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL FINANCIAL REVIEW REFINANCING  As already announced in April, we refinanced 50 million Euros SCHEDULED LOAN REPAYMENTS* (as of 31st March 2011) 160 140 50 million Euros thereof are already 120 refinanced 100 80 148 60 40 77 79 74 72 54 20 37 44 32 0 2Q11 2H

  13. Slide 13: Looking Forward

    LOOKING FORWARD 13

  14. Slide 14: Looking Forward

    SONAE INDÚSTRIA: EA_1Q11 – CONFERENCE CALL Looking Forward  We expect our EBITDA margins to continue to improve, based on a stronger performance in Central Europe.  Moreover, the optimization of our business operations, supported by the matrix organization we have implemented, is expected to bring

  15. Slide 15: Thank You, Questions?

    THANK YOU QUESTIONS? QD SONAE INDUSTRIA

Sonae Indústria — Q1 2011 Earnings Presentation on 6ix