Sonae Indústria S.G.P.S — Sonae Indústria — FY2012 Earnings Presentation
14 slides from Sonae Indústria S.G.P.S's earnings presentation, Feb 27, 2013
Slide 1: Investors and Analysts Conference Call FY12 Results
INVESTORS AND ANALYSTS CONFERENCE CALL FY12 RESULTS 27th February 2013
Slide 2: Consolidated Operational Review
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Compared to FY11, consolidated turnover* for FY12 decreased by 2% to 1,321 million Euros with a reduction of approximately 3% in volumes sold. Price adjustments were not enough to compensate the lower activity which resulte
Slide 3: Consolidated Operational Review: 4Q12 Turnover and EBITDA
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Consolidated turnover* in 4Q12 totalled 316 million Euros, representing a 1% recovery from 3Q12. Recurrent EBITDA margin recovered slightly, despite seasonal higher costs, being helped by the improvement in South Africa. To
Slide 4: Consolidated Operational Review: Volumes, Prices and Costs
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Quarterly Volumes Sold 1,42 1,40 In FY12 when comparing to FY11, 1,29 1,39 1,32 1,27 1,34 1,20 1,22 volumes sold declined in France, Germany and in the UK (and only slightly in S.A.) 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4
Slide 5: Operational Review Europe
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL OPERATIONAL REVIEW EUROPE In Europe*, when comparing FY12 with FY11: Volumes sold and turnover declined by 5% Recurrent EBITDA margin was kept at the same level, as a result of operational efficiency gains and more value added products sold € Mn Europ
Slide 6: Operational Review Rest of the World: Canada and S.A.
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL OPERATIONAL REVIEW REST OF THE WORLD: Canada and S.A. In RoW region, when comparing FY12 with FY11: Volumes sold increase by 3% and turnover recovered by 9%, being strongly helped by the Canadian market Nevertheless, recurrent EBITDA margin fell by 3p
Slide 7: Consolidated Operational Review: Variable Costs Evolution
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Variable costs Evolution QUARTERLY AVERAGE COSTS (eur/m3) BASE 100:1Q10 1,4 Average variable costs moved 2% 1,3 up from 3Q12 to 4Q12 1,2 1,1 Wood costs were negatively afected 1,0 by the winter season 0,9 0,8 1Q10 2Q10 3Q
Slide 8: Volumes Sold and Capacity Utilization
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW VOLUMES SOLD AND CAPACITY UTILIZATION 4Q09: closure of 1Q09: closure of Kaisersesch 4Q12: closure of • PB Line in Coleraine plant (Germany) Solsona plant (UK) (Spain) • George plant (S.A.) 3Q09: Sale of 2Q10: Sale of Brazil L
Slide 9: Managing for Cash
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW MANAGING FOR CASH WORKING CAPITAL improved strongly in 4Q12, decreasing by 45 million Euros (having decreased 45 million Euros trade debtors) INVESTMENTS continue to be closely monitored Additional Fixed Assets Million Eu
Slide 10: Financial Review: Net Debt
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL FINANCIAL REVIEW Net Debt Net Debt declined by 50 million Euros over the last 12 months NET DEBT ND / REC. EBITDA 950 25 Net Debt 900 ND/Rec.Ebitda 20 850 15 800 10 750 5 700 650 0 1Q'09 3Q'09 1Q'10 2Q'10 4Q'10 2Q'11 4Q'11 2Q'12 4Q'12 2Q'09 4Q'09 3Q'10 1Q
Slide 11: Financial Review: Refinancing
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL FINANCIAL REVIEW Refinancing We continue refinancing the maturing debt with the relationship banks of the group and in the local markets of our strongest subsidiaries. SCHEDULED LOAN REPAYMENTS* (as of 31st December 2012) 140 120 100 80 60 129 40 84 71 62
Slide 12: Looking Forward
.. today, tomorrow, let’s be better together! LOOKING FORWARD - CH 2 Use wood, store carbon
Slide 13: Looking Forward
SONAE INDÚSTRIA: EA_FY12 – CONFERENCE CALL Looking Forward During the coming year we expect the economy in Europe to slowly improve. Nevertheless it will still be a tough year in terms of private and public consumption. We expect to improve our performance supported by the restructuring measures a
Slide 14: Thank You, Questions?
THANK YOU QUESTIONS? jE} SONAE INDUSTRIA