19 slides from Ccl Industries Inc. Class A's earnings presentation, Feb 18, 2005
Slide 1: Investor Update Fourth Quarter 2004 Review
Investor Update Fourth Quarter 2004 Review Friday, February 18, 2005 Disclaimer Any forward-looking statements contained in this presentation involve risks, uncertainties and assumptions and should not be taken as guarantees of future performance. Actual results could vary materially from those anti
Slide 2: Statement of Earnings - Fourth Quarters
Statement of Earnings Fourth Quarters Ended December 31st (Millions of Cdn $, except per share data) Net of currency translation & 2004 2003 Change divestitures 1) Sales $ 372.7 $ 346.7 +7.5% +13% EBITDA 41.6 37.2 +11.8% Net of currency translation, transactions Depreciation and amortization 13.9 15
Slide 3: Statement of Earnings - Years Ended December 31st
Statement of Earnings Years Ended December 31st (Millions of Cdn $, except per share data) Net of currency translation & 2004 2003 Change divestitures 1) Sales $ 1,518.5 $ 1,518.4 +0.0% +10% EBITDA 169.4 168.8 +0.4% Net of currency translation, transactions Depreciation and amortization 68.4 67.4 &
Slide 4: Earnings per Class B Share
Earnings per Class B Share Years Ended December 31st (Millions of Cdn $, except per share data) Q4 YTD 2004 2004 Before Unusual Items $ 0.50 $ 1.78 Gain on sale of Leeds U.K. property (relocation costs Q4) (0.03) +0.18 Repatriation of capital (foreign exchange loss) (0.04) (0.04) Gain on sale of Win
Slide 5: E.P.S. Bridge before Unusual Items
E.P.S. Bridge before Unusual Items Fourth Quarters Ended December 31st (Millions of Cdn $, except per share data) 4th Quarter YTD Full Year 2004 2004 2003 vs. vs. vs. 2003 2003 2002 4Q 03 $0.41 YTD 03 $1.80 2002 $1.70 Operations +0.20 +0.26 +0.10 Interest rate swaps (0.01) +0.02 +0.06 Corporate cost
Slide 6: Impact of Changes in Exchange Rates
Impact of Changes in Exchange Rates Currency Translation: 2003 – Negative effect of U.S. dollar (down 11% on average from $1.57 in 2002); partly offset by Euro strength ($1.58 average for the year) 2004 – U.S. dollar averaged $1.30 vs. $1.40 in 2003 for the year (down 7%), partly offset by Euro stre
Slide 7: Balance Sheet
Balance Sheet As At December 31st (Millions of Cdn $, except Book Value per Share) 2004 2003 Change Net working capital (receivables, inventory, prepaids, payables and accruals) $ 57.7 $ 56.9 +1.4% Capital assets (net) $ 471.8 $ 442.8 +6.5% Intangible assets $ 27.5 $ 19.1 +44.0% Goodwill $ 315.5 $ 2
Slide 8: Debt Summary
Debt Summary As At December 31st (Millions of Cdn $) Increase 2004 2003 (Decrease) Bank advances $ 39.4 $ 7.5 $ 31.9 Long-term debt - senior notes (2004 - $304.9 MM U.S., 2003 - $314.3 MM U.S.) 366.5 407.5 (41.0) Long-term debt - all other 20.5 11.8 8.7 Total debt 426.4 426.8 (0.4) Cash and cash equ
Slide 9: Cash Flow Highlights
Cash Flow Highlights Years Ended December 31st (Millions of Cdn $) Inflows: 2004 2003 Net earnings $ 59.2 $ 53.0 Depreciation and amortization 68.4 67.4 Stock-based compensation 0.2 - Future income taxes 8.1 8.0 1) Unusual items (2.0) 4.3 Gross Cash Inflow 133.9 132.7 Outflows: 2) Net increase (decr
Slide 10: Capital Spending Highlights
Capital Spending Highlights Years Ended December 31st, 2004 (Millions of Cdn $) Capital Divisions Spending Depreciation Difference Major Investment Projects Custom Manufacturing $ 19.8 $ 20.1 $ (0.3) German expansion $ 1.7 Danville Unilever line $ 1.2 $ 2.9 Container 44.9 17.4 27.5 Penetang (3 new A
Slide 11: Income From Operations
Income From Operations Years Ended December 31st (Millions of Cdn $) Excl. currency translation, transactions & 2004 2003 Change divestitures Custom Manufacturing $ 37.2 $ 44.1 (15.6%) (1.6%) Container 17.2 31.3 (45.0%) (1.4%) Label 55.0 35.1 +56.7% +69.3% 109.4 110.5 (1.0%) +22.4% Corporate expense
Slide 12: Custom Manufacturing
Custom Manufacturing Fourth Quarters Ended December 31st Excl. currency translation & (in millions of Cdn dollars) 2004 2003 % transactions 1) Sales $ 199.6 $ 185.3 7.7% +11.7% Operating Income $ 9.7 $ 11.3 (14.2%) +3.5% Return on Sales 4.9% 6.1% Return on Service Revenue 15.9% 18.3% EBITDA $ 13.7 $
Slide 13: Custom Manufacturing
Custom Manufacturing Years Ended December 31st Excl. currency translation & (in millions of Cdn dollars) 2004 2003 % transactions 1) Sales $ 800.3 $ 801.0 (0.1%) +3.8% Operating Income $ 37.2 $ 44.1 (15.6%) (1.6%) Return on Sales 4.6% 5.5% Return on Service Revenue 15.6% 17.2% EBITDA $ 58.2 $ 63.3 (
Slide 14: Custom Manufacturing
Custom Manufacturing Unit Volume - Millions Fourth Quarters Ended December 31st 4th QUARTERS YTD 2004 2003 2004 2003 ACT ACT Change ACT ACT Change Aerosol / sticks - North America 93.4 106.1 (12.0% ) 382.1 421.8 (9.4% ) Liquid - North America 102.3 72.4 41.3% 365.7 312.1 17.2% Total North America 19
Slide 15: Container
Container Fourth Quarters Ended December 31st Excl. currency translation & (in millions of Cdn dollars) 2004 2003 % transactions 1) Sales $ 53.3 $ 47.9 11.3% +18.2% Operating Income $ 4.2 $ 4.0 5.0% +50.0% Return on Sales 7.9% 8.4% EBITDA $ 8.3 $ 7.9 5.1% % of Sales 15.6% 16.5% 1) Excluding foreign
Slide 16: Container
Container Years Ended December 31st Excl. currency translation & (in millions of Cdn dollars) 2004 2003 % transactions 1) Sales $ 212.7 $ 294.8 (27.8%) +4.3% Operating Income $ 17.2 $ 31.3 (45.0%) (1.4%) Return on Sales 8.1% 10.6% EBITDA $ 34.9 $ 53.5 (34.8%) % of Sales 16.4% 18.1% 1) Excluding fore
Slide 17: Container
Container Actual Unit Volume Comparison Q4 2004 YTD 2004 Year 2003 vs. vs. vs. Q4 2003 YTD 2003 Year 2002 Aerosol Cans & Beverage Bottles +24.2% +22.3% +14.8% Plastic Tubes - (5.6%) (2.7%) 17
Slide 18: Label
Label Fourth Quarters Ended December 31st Excl. currency translation & (in millions of Cdn dollars) 2004 2003 % divestitures 1) Sales $ 119.8 $ 113.5 +5.6% +12.7% Operating Income $ 15.9 $ 9.2 +72.8% +89.8% Return on Sales 13.3% 8.1% EBITDA $ 21.3 $ 16.2 +31.5% % of Sales 17.8% 14.3% 1) Excluding fo
Slide 19: Label
Label Years Ended December 31st Excl. currency translation & (in millions of Cdn dollars) 2004 2003 % divestitures 1) Sales $ 505.5 $ 422.6 +19.6% +26.6% Operating Income $ 55.0 $ 35.1 +56.7% +69.3% Return on Sales 10.9% 8.3% EBITDA $ 83.6 $ 59.9 +39.6% % of Sales 16.5% 14.2% 1) Excluding foreign ex