Sonae Indústria S.G.P.S — Sonae Indústria — H1 2012 Earnings Presentation
13 slides from Sonae Indústria S.G.P.S's earnings presentation, Jul 30, 2012
Slide 1: Investors and Analysts Conference Call 1H12 Results
INVESTORS AND ANALYSTS CONFERENCE CALL 1H12 RESULTS 30th July 2012
Slide 2: Consolidated Operational Review
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Consolidated turnover in 1H12 reached 712 million Euros, 1% above 1H11. Recurrent EBITDA margin recovered 0.4pp from 1H11 to 1H12, reaching 55 million Euros, 7.8% of Turnover (when compared with 7.4% in 1H11) Comparing 2Q
Slide 3: Consolidated Operational Review: Volumes, Prices and Costs
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Quarterly Volumes Sold From the 1Q12 to the 2Q12, as well as in 1,39 1,24 1,29 1,39 1,42 1,32 1,27 1,39 1,34 1H12 when comparing to 1H11, volumes sold declined in France, Germany and in the UK. 2Q10 3Q10 4Q10 1Q11 2Q11 3Q11
Slide 4: Operational Review Europe
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL OPERATIONAL REVIEW EUROPE In Europe, when comparing 1H12 with 1H11: Turnover decreased by 1%, due to lower volumes sold Recurrent EBITDA Margin moved 0.8pp up, , reaching 6.9% of turnover, illustrating operational efficiency gains, product management
Slide 5: Operational Review Rest of the World: Canada and S.A.
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL OPERATIONAL REVIEW REST OF THE WORLD: Canada and S.A. In RoW region, when comparing 1H12 with 1H11: Volumes sold increased by 7% and turnover by 13% Nevertheless, recurrent EBITDA margin decreased by 2.5pp to 11.8% due to the much higher variable cost
Slide 6: Variable Costs Evolution
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Variable costs Evolution QUARTERLY AVERAGE COSTS (eur/m3) BASE 100:1Q10 Production costs were flat in this quarter because despite having 1,4 faced chemical costs increases, 1,3 1,2 wood costs eased. 1,1 1,0 In 3Q12, chem
Slide 7: Volumes Sold and Capacity Utilization
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW VOLUMES SOLD AND CAPACITY UTILIZATION 1Q09: closure of • PB Line in Coleraine Capacity utilization in 1H12 is 1Q10: closure of (UK) 3Q09: Sale of Duisburg plant 3pp lower when compared to • George plant (S.A.) Brazil (Germa
Slide 8: Managing for Cash
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW MANAGING FOR CASH WORKING CAPITAL increased slightly in 2Q12 because despite having decrease 4 million Euros inventories, Trade Creditors moved 7 million Euros down INVESTMENTS continue to be closely monitored Additional
Slide 9: Financial Review: Net Debt / EBITDA
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL FINANCIAL REVIEW Net Debt / Ebitda The Net Debt to Recurrent EBITDA ratio for the last 12 months is 6.3x, which is down from 7.7x, one year ago, and 13.0x in 1H10. Net Debt/ Net Debt Rec. EBITDA (million Euros) 14,0 1.300 12,0 1.200 1.100 10,0 1.000 8,0 9
Slide 10: Financial Review: Refinancing
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL FINANCIAL REVIEW Refinancing We continue working in alternatives to refinance well in advance. SCHEDULED LOAN REPAYMENTS* (as of 30th June 2012) 140 120 100 80 60 127 92 40 78 78 58 65 52 20 22 12 0 2H12 1H13 2H13 1H14 2H14 2015 2016 2017 ≥2018 Our debt
Slide 11: Looking Forward
.. today, tomorrow, let’s be better together! LOOKING FORWARD - CH 2 Use wood, store carbon
Slide 12: Looking Forward
SONAE INDÚSTRIA: EA_1H12 – CONFERENCE CALL Looking Forward 3Q12 activity is likely to be affected by the normal summer shut downs in the Northern Hemisphere and therefore we expect to sell lower volumes in all countries where we operate with the exception of South Africa. We will continue trying
Slide 13: Thank You, Questions?
THANK YOU QUESTIONS? jE} SONAE INDUSTRIA