Mayr-melnhof Karton Ag · VIE:MMK
Mayr-melnhof Karton — FY2010 Earnings Presentation
27 slides from Mayr-melnhof Karton's earnings presentation, Mar 17, 2011
Slide 1: Mayr-Melnhof Group Annual Results 2010
Mayr-Melnhof Group Annual Results 2010 March 17, 2011
Slide 2: Mayr-Melnhof Group
Mayr-Melnhof Group - The worldwide largest producer of coated recycled cartonboard with a rising position in virgin fiber based board - Europe‘s largest manufacturer of folding cartons
Slide 3: 37 Production Sites
37 Production Sites Cartonboard Mills (7) Packaging Plants (30) ~ 8,680 Employees
Slide 4: Highlights 2010
Highlights 2010 • Growth in sales and results • Strong rise on raw material markets tackled • Price increases implemented • Full capacity utilization • Strong operating margin exceeding 9 % • Expansion Latin America • Profit for the year with EUR 110.4 million +13.3 % above last year • Dividend incr
Slide 5: Group Results 2010
GROUP RESULTS 2010
Slide 6: Consolidated Results 2010
Consolidated Results 2010 consolidated in millions of EUR, IFRS 2010 2009 +/- Sales 1,778.9 1,601.5 +11.1 % Operating profit 162.3 149.9 +8.3 % Operating margin 9.1 % 9.4 % Result from disposal of businesses (6.9) 0.0 Profit before tax 151.7 132.4 +14.6 % Income tax expense (41.3) (35.0) Profit for
Slide 7: MM Group: Quarters
MM Group: Quarters Sales Operating margin % 500 16% 450 400 14% 350 12% 300 10% 250 8% 200 6% 150 4% 100 50 2% 0 0% 07 08 9 10 7 8 09 0 7 8 9 0 07 08 9 10 /0 0 0 1 I/0 I/0 I/0 I/1 /0 / / / II/ II/ II/ II/ / / / III III III III in millions of EUR IV IV IV IV
Slide 8: Development Dividend
Development Dividend in EUR / Share Bonus 0,75 2,00 1,95 * 1,70 1,70 1,70 1,20 1,50 1,40 1,30 1,10 1,00 1,00 0,90 0,78 0,83 0,73 0,62 0,50 0,00 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 * Proposal
Slide 9: Consolidated Balance Sheet
Consolidated Balance Sheet consolidated in millions of EUR, IFRS Dec. 31, 2010 Dec. 31, 2009 Non-current assets 664.2 602.9 Current assets 856.7 785.7 Total assets 1,520.9 1,388.6 Equity 983.1 964.3 Liabilities 537.8 424.3 Total equity and liabilities 1,520.9 1,388.6 Total funds available to the Gro
Slide 10: MM Group: Key Figures 2010
MM Group: Key Figures 2010 • Total equity to total assets: 65 % • Return on equity: 11.3 % • Return on capital employed: 18.9 %
Slide 11: Consolidated Cash-Flow Statement
Consolidated Cash-Flow Statement consolidated in millions of EUR, IFRS 2010 2009 Cash flow from operating activities 144.6 200.5 Cash flow from investing activities (111.6) 102.3 Cash flow from financing activities (56.7) (139.1) Cash and cash equivalents beg. of the year 353.3 189.8 Net change in c
Slide 12: Mayr-Melnhof Karton
MAYR-MELNHOF KARTON
Slide 13: MM Karton: Mills
MM Karton: 7 Mills • Capacity: approx. 1.6 million tons / year • 9 cartonboard machines • Sales in more than 100 countries • Employees: 2,283 MM Karton Mill MM Karton Sales Office
Slide 14: MM Karton: Overview 2010
MM Karton: Overview 2010 • Volume sold – 1.56 million tons (+6 %) • Average capacity utilization 98 % (2009: 88 %) • Strong rise in raw material prices • Cartonboard price increases implemented • Margin improved • Operating profit significantly above previous year
Slide 15: MM Karton: Results 2010
MM Karton: Results 2010 in millions of EUR, IFRS 2010 2009 +/- Sales 879.7 766.0 +14.8 % Operating profit 65.1 51.5 +26.4 % Operating margin 7.4 % 6.7 % Return on capital employed 19.9 % 12.2 % Tonnage sold (in thousands of tons) 1,564 1,481 +5.6 % Tonnage produced (in thousands of tons) 1,579 1,499
Slide 16: MM Karton: Start 2011
MM Karton: Start 2011 • Good capacity utilization since beginning of the year • Rise in raw material costs accelerates • Price increase announced
Slide 17: Mayr-Melnhof Packaging
MAYR-MELNHOF PACKAGING
Slide 18: MM Packaging: Plants
MM Packaging: 30 Plants • 14 countries • 4 continents • 6,396 employees • 675,000 tons tonnage processed
Slide 19: MM Packaging: Processed Tonnage
In 1,000 t / year 0 100 200 300 400 500 600 700 19 93 19 94 19 95 19 96 19 97 19 98 19 99 20 00 20 01 20 02 20 03 20 04 20 05 20 06 20 07 20 08 20 09 20 10 MM Packaging: Processed Tonnage
Slide 20: MM Packaging: Overview 2010
MM Packaging: Overview 2010 • Market shares increased and defended • High capacity utilization • Passing on of cartonboard price increases • Expansion path continued - Startup of MMP Tehran, Iran - Acquisition of Marinetti S.A., Chile
Slide 21: MM Packaging: Results 2010
MM Packaging: Results 2010 in millions of EUR, IFRS 2010 2009 +/- Sales 1,020.7 952.0 +7.2 % Operating profit 97.2 98.4 -1.2 % Operating margin 9.5 % 10.3 % Return on capital employed 18.3 % 20.0 % Tonnage processed (in thousands of tons) 675 630 +7.1 % Employees 6,396 5,585 Investments 55.2 28.4 De
Slide 22: MM Packaging: Start 2011
MM Packaging: Start 2011 • High utilization continued • Passing on of recent cartonboard price increases mainly finalized • Further announced cartonboard price increase to be tackled • Use of further growth opportunities
Slide 23: Outlook
Outlook • Market tends towards normalization • Well filled order books since start of the year • Sustainability uncertain • Further rise in costs (fibers, transport, chemicals) • Price increases • Continuous investment activity • Further growth steps in planning
Slide 24: Appendix
APPENDIX
Slide 25: MM Group - Quarters
MM Group - Quarters consolidated in millions of EUR, IFRS 4Q/2009 1Q/2010 2Q/2010 3Q/2010 4Q/2010 Sales 415.0 439.2 423.8 452.7 463.2 EBITDA 57.3 58.9 48.8 66.4 62.4 EBITDA margin 13.8 % 13.4 % 11.5 % 14.7 % 13.5 % Operating profit 39.8 40.2 37.4 45.7 39.0 Operating margin 9.6 % 9.2 % 8.8 % 10.1 % 8
Slide 26: MM Karton - Quarters
MM Karton - Quarters in millions of EUR, IFRS 4Q/2009 1Q/2010 2Q/2010 3Q/2010 4Q/2010 Sales 200.4 219.9 207.4 225.0 227.4 Operating profit 11.4 12.2 13.0 19.8 20.1 Operating margin 5.7 % 5.5 % 6.3 % 8.8 % 8.8 % Tonnage sold (in thousands of tons) 391 415 387 392 370 Tonnage produced (in thousands of
Slide 27: MM Packaging - Quarters
MM Packaging - Quarters in millions of EUR, IFRS 4Q/2009 1Q/2010 2Q/2010 3Q/2010 4Q/2010 Sales 240.8 249.6 245.1 260.5 265.5 Operating profit 28.4 28.0 24.4 25.9 18.9 Operating margin 11.8 % 11.2 % 10.0 % 9.9 % 7.1 % Tonnage processed (in thousands of tons) 159 170 163 171 171