Sonae Indústria S.G.P.S — Sonae Indústria — FY2013 Earnings Presentation
11 slides from Sonae Indústria S.G.P.S's earnings presentation, Mar 13, 2014
Slide 1: Investors and Analysts Conference Call - FY13 Results
INVESTORS AND ANALYSTS CONFERENCE CALL - FY13 RESULTS - 13 March 2014
Slide 2: Highlights
SONAE INDÚSTRIA: EA FY13 – CONFERENCE CALL HIGHLIGHTS OPERATIONAL • Improved performance and increased profitability in Rest of the World operations • On a comparable basis*, average capacity utilization was up by 2.2 pp versus 2012 • Record OSB production and sales volumes FINANCIAL: • Turnover dec
Slide 3: Operational Review | Turnover
SONAE INDÚSTRIA: EA FY13 – CONFERENCE CALL OPERATIONAL REVIEW| TURNOVER -7% • Turnover reduced 7% y.o.y. due to a 1,400 1,321 combination of reduced industrial footprint 1,232 14.0% 1,200 and lower levels of activity in Europe 12.0% 1,000 Turnover 10.0% • The reduction was a combined impact of 800 7
Slide 4: Operational Review | Variable Costs
SONAE INDÚSTRIA: EA FY13 – CONFERENCE CALL OPERATIONAL REVIEW| VARIABLE COSTS QUARTERLY AVERAGE COSTS (eur/m3) BASE 100:1Q12 QUARTERLY AVERAGE COSTS (eur/m3) BASE 100:1Q12 1.3 1.02 1.2 1.00 1.1 1.0 0.98 0.9 0.96 0.8 0.7 0.94 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 Chemicals Wood 0.92 0.90 UREA SPOT
Slide 5: Operational Review | Capacity Utilization
SONAE INDÚSTRIA: EA FY13 – CONFERENCE CALL OPERATIONAL REVIEW| CAPACITY UTILIZATION xx Average capacity utilization index excludes idle production lines 1Q09: closure of 4Q09: closure of • PB Line in Coleraine (UK) Kaisersesch plant (Germany) • George plant (S.A.) 4Q12: closure of Solsona 2Q10: Sale
Slide 6: Financial Review | P&L Account
SONAE INDÚSTRIA: EA FY13 – CONFERENCE CALL FINANCIAL REVIEW P&L ACCOUNT Million euros 2012* 2013 Consolidated turnover 1,321 1,232 Other operational income 34 29 EBITDA 97 65 Non Recurrent items of 15 million Euros (9.4 Recurrent EBITDA 99 80 million Euros related with severance costs) Recurrent EBI
Slide 7: Financial Review | Revaluation Impact
SONAE INDÚSTRIA: EA FY13 – CONFERENCE CALL FINANCIAL REVIEW | REVALUATION IMPACT • In 2013 the accounting treatment of tangible assets “Land and Buildings” was changed from a cost model to a revaluation model. P&L ACCOUNT 2013 / P&L Accounts Impacts Million euros 2012* 2013 2012* Profit before taxes
Slide 8: Financial Review | Managing for Cash
SONAE INDÚSTRIA: EA FY13 – CONFERENCE CALL FINANCIAL REVIEW | MANAGING FOR CASH WORKING CAPITAL: 1Q10 - FY13 Additional fixed assets Million euros € Mn 40 200 35 35 35 6 150 30 14 25 23 100 13 20 19 50 15 9 6 6 0 10 7 6 9M10 9M11 9M12 9M13 FY13 1H10 1H11 1H12 1H13 2010 2011 2012 4 1Q10 1Q11 1Q12 1Q1
Slide 9: Financial Review | Net Debt
SONAE INDÚSTRIA: EA FY13 – CONFERENCE CALL FINANCIAL REVIEW| NET DEBT • Comparing to 9M13, Net Debt decreased by 1 million Euros and is mainly the result of an improvement in Working Capital. When compared to year end 2012, net debt increased by 13 million Euros Net Debt ND/Rec. EBITDA (Million euro
Slide 10: Financial Review | Refinancing
SONAE INDÚSTRIA: EA FY13 – CONFERENCE CALL FINANCIAL REVIEW | REFINANCING • As part of the defined financing strategy, we expect to be able to refinance most of the upcoming debt maturities in 2014 and to adjust the profile of our debt to estimated cash flow generation SCHEDULED LOAN REPAYMENTS* (as
Slide 11: Thank You - Questions?
THANK YOU QUESTIONS? (>) sonae INDUSTRIA