Arctic Paper S.a. · GPW:ATC
Arctic Paper — Q1 2013 Earnings Presentation
20 slides from Arctic Paper's earnings presentation, May 2013
Slide 1: Arctic Paper Group Results for the first quarter of 2013
Arctic Paper Group Results for the first quarter of 2013 Michał Jarczyński, CEO Michał Bartkowiak, CFO Warsaw, May 2013
Slide 2: Disclaimer
Disclaimer Please read the information below carefully This presentation (the ‘Presentation’) was prepared by Arctic Paper S.A. (the ‘Company’) for information purposes only for use by investors, banks and the Company’s customers as well as market analysts and under no circumstances may it be treate
Slide 3: Agenda
Agenda Changes to 2012 consolidated figures Market environment Operating and financial results Summary of the first quarter of 2013 Page # 3 Arctic Paper S.A.
Slide 4: Changes to 2012 consolidated figures
Changes to 2012 consolidated figures
Slide 5: Main changes to 2012 consolidated figures
Main changes to 2012 consolidated figures YTD YTD Negative impact on Gross profit (PLN thousands) 2012* 2012** margin from impairments – gross impairments in the amount of PLN Sales volume (000' tonnes ) 789 789 248m (AP Grycksbo PLN 209m and AP Revenues 2 600 700 2 600 700 Mochenwangen PLN 39m). Gr
Slide 6: How we arrived at badwill?
How we arrived at badwill? PLN 472m PLN PLN 359m 204m for APSA PLN 78m for RROS PLN Minority PLN PLN 58m 126m 97m Rottneros equity Rottneros Non-controlling Consideration Negative book value carrying value based on interest goodwill AP assumptions Page # 6 Changes to 2012 consolidated figures Arctic
Slide 7: Q4 2012 report and annual report bridge
Q4 2012 report and annual report bridge PLN PLN +204m -170m of which APSA shareholders PLN -103m Rottneros shareholders PLN PLN -31m +126m PLN PLN PLN +3m 23m 17m Arctic Paper Total Grycksbo Mochenwangen Other Arctic Paper 2012 net result badwill impairment impairment adjustments 2012 net result (Q4
Slide 8: Market environment
Market environment
Slide 9: Deliveries of fine paper
Deliveries of fine paper Monthly deliveries of fine paper in Europe Quarterly and YTD deliveries of fine paper in Europe 1 200 1 115 1 088 1 068 1 059 1 038 1 001 1 060 1 013 1 022 988 962 979 950 3 250 3 051 762 (-6,1) thousand metric tons thousand metric tons 2 910 700 581 569 566 548 541 529 545
Slide 10: Fine paper prices
Fine paper prices Graphic fine paper prices - German market 1000 At the end of March 2013 the average prices for UWF decreased by -0,2% and for CWF stayed on the same level as at the end of Q4 2012. 900 EUR / ton Fine paper prices as at the end of Q1 2013 were lower 800 compared to the end of Q1
Slide 11: Pulp prices
Pulp prices Pulp PIX Indexes Europe 1 100 As at the end of Q1 2013 pulp prices were 1 023 976 973 977 at USD 837 per ton for NBSK and USD 800 949 958 per ton for BHKP. The average price for 889 900 NBSK in Q1 2013 was 1,2% lower than in 918 834 844 831 837 870 874 810 the corresponding period of 2
Slide 12: Currency exposure
Currency exposure EUR/PLN changes EUR/SEK changes EUR/USD changes 5,0 12,0 1,8 4,5 10,5 1,5 4,0 9,0 1,2 3,5 7,5 0,9 Revenues Costs 31/03 Revenues Costs 31/03 31/03 22% 7% 4,18 32% 12% 8,36 1,28 3,0 6,0 0,6 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 2008 2009 2010 2011 2012 7,00 14,00 1,50 5,2
Slide 13: Operating and financial results
Operating and financial results
Slide 14: Production capacity and sales volume
Production capacity and sales volume Production and use of production capacity for all paper mills In Q1 2013 use of production capacity for all Group paper mills was 98% and 4,7 p.p. higher 600 120% than in Q4 2012 and 1,5% higher than in the corresponding period of 2011. The average use 97% 97%
Slide 15: Paper sales revenue and revenue per ton
Paper sales revenue and revenue per ton Paper sales revenue 800 674 680 673 680 Arctic Paper Group paper sales revenue in Q1 641 657 657 635 632 614 2013 was PLN 657 million, representing 577 600 increase of 7,0% compared to Q4 2012 and decrease of 3,4% compared to Q1 2012. thousand PLN 400 200 0
Slide 16: Key consolidated figures
Key consolidated figures Q1 Q1 Q4 Q1 2013 sales volume higher than in (PLN thousands) 2013 2012 2012* Q4 2012 (+7,3%) and revenues higher by +32,4% (of which +28,1% is Paper s ales volume (000' tonnes ) 204 203 190 Rottneros revenue and +4,3% the Pulp s ales volume (000' tonnes ) 86 0 0 revenue incr
Slide 17: Operating result and EBITDA
Operating result and EBITDA Operating result bridge Operating result for the first quarter of 2013 +3 -42,2 reached level of 0,3 MPLN compared to 23,3 23,3 MPLN in the corresponding period of 2012. +27 -1,8 -3,3 Main contributor to such a decrease was price million PLN -1,0 -4,9 & fx (-42,2 MPLN).
Slide 18: Summary of the first quarter of 2013
Summary of the first quarter of 2013
Slide 19: The first quarter in brief
The first quarter in brief Arctic Paper Group Lower sales prices in comparison to 4Q 2012 due to decreased demand ecspecially in the second part of the quarter (by -1% in local curriencies and decrease by 2-3% at Swedish mills due to stronger Swedish kronor). Decreased level of orders in the sec
Slide 20: Thank you
you Michał Jarczyński, CEO ARCTIC PAPER GROUP Michał Bartkowiak, CFO ARCTIC PAPER GROUP Arctic Paper S.A. | Jana Henryka Dabrowskiego 334A | PL-60406 | Poznan | Poland © 2013 Arctic Paper S.A. | All rights reserved