Lubelski Wegiel BOGDANKA SA · GPW:LWB
Lubelski Wegiel BOGDANKA SA — Q3 2012 Earnings Presentation
25 slides from Lubelski Wegiel BOGDANKA SA's earnings presentation, November 2012
Slide 1: Investors Presentation 3Qs 2012
INVESTORS PRESENTATION 3Qs 2012 November 2012
Slide 2: Presenting Team
PRESENTING TEAM Krystyna Borkowska The Deputy to the President of Waldemar Bernaciak Management for Economic and The Deputy to the Financial Affairs President of Management - Chief Accountant for Trade and Logistics Zbigniew Stopa The Deputy to the President of Management for Technical Affairs
Slide 3: Agenda
AGENDA LW BOGDANKA in three quarters of 2012 and after the balance-sheet date Situation on the coal market Financial highlights Extraction and investments at the Company in 3Qs 2012 Appendices – financial data 3
Slide 4: LW BOGDANKA in three quarters of 2012 and after the balance-sheet date
LW BOGDANKA in three quarters of 2012 and after the balance-sheet date Financial parameters: Revenue on sales 3Qs 2012 – PLN 485.7m (increase over 3Qs 2011 by 71.21%) 1-3Q 2012 – PLN 1,392.2m (increase over 1-3Q 2011 by 60.81% Gross profit 3Qs 2012 – PLN 127.8m (increase over 3Qs 2011 by 108.58%
Slide 5: Agenda
AGENDA LW BOGDANKA in three quarters of 2012 and after the balance-sheet date Situation on the coal market Financial highlights Extraction and investments at the Company in 3Qs 2012 Appendices – financial data 5
Slide 6: Demand on the domestic market
DEMAND ON THE DOMESTIC MARKET … In three quarters of 2012 a decrease in demand for power coal on the domestic market was observed. Coal reserves on mounds have increased significantly. An average price of power coal (in all sizes) in the period between January and September 2012 amounted to PLN 2
Slide 7: ...Affect the sales of coal
...AFFECT THE SALES OF COAL Coal output in the industry Domestic sales of power coal in the industry (million of tonnes) (in million tonnes) Increase in the market share of LW BOGDANKA by 6.05% 14,95% 8,91% 70,00 1-3Q2011 1-3Q2012 60,00 3,83 6,07 50,00 50,00 3,83 6,07 4,00 40,00 40,00 5,93 30,00 30,
Slide 8: ...Affects the stock and import of coal
...AFFECTS THE STOCK AND IMPORT OF COAL The stock of hard coal in mines Import and export of coal (million of tonnes) (million of tonnes) 13,0 12,0 11,0 2,2 10,0 9,0 8,00 8,0 0,17 7,00 7,0 1,0 0,17 6,0 6,00 5,0 5,00 9,3 1,2 4,0 1,2 4,00 6,85 3,0 6,1 3,00 5,85 0,02 0,02 2,0 3,9 2,00 3,3 1,0 1,00 1,81
Slide 9: Agenda
AGENDA LW BOGDANKA in three quarters of 2012 and after the balance-sheet date Situation on the coal market Financial highlights Extraction and investments at the Company in 3Qs 2012 Appendices – financial data 9
Slide 10: Results of the LW BOGDANKA Group for 3Qs 2012
RESULTS OF THE LW BOGDANKA GROUP FOR 3Qs 2012 the increase in total revenue is attributable to higher revenue on sales of coal (by more than Increase in revenue on sales 67%) Revenue on sales - LW BOGDANKA GROUP: higher amount of coal sold (+50.3%) by more than 60% higher unit sale price increase in
Slide 11: Results of the LW BOGDANKA Group
RESULTS OF THE LW BOGDANKA GROUP Change Change Item IIIQ2012/ IIIQ2012/ 3Q2010 3Q2011 3Q2012 (PLN’000) IIIQ2010 IIIQ2011 [%] [%] Revenue 356 125 283 680 485 702 36.39 71.21 Gross profit 134 129 61 264 127 787 -4.73 108.58 EBITDA 142 749 75 477 202 133 41.60 167.81 EBIT 106 502 31 282 125 663 17.99 3
Slide 12: Results of the LW BOGDANKA Group
RESULTS OF THE LW BOGDANKA GROUP Change Change Item 3Qs2012/ 3Qs2012/ 3Qs2010 3Qs2011 3Qs2012 (PLN’000) 3Qs2010 3Qs2011 [%] [%] Revenue 934 224 865 761 1 392 240 49% 61% Gross profit 317 232 182 880 429 232 35% 135% EBITDA 337 458 220 662 567 476 68% 157% EBIT 233 140 101 691 338 478 45% 233% Net pr
Slide 13: Profitability Ratios
PROFITABILITY RATIOS 45,00% 40.76% 40,00% 35,00% 30,00% 24.31% 25.49% 25,00% 19.89% 20,00% 15,00% 11.75% 10.17% 10,00% 5,00% 0,00% net profit margin EBIT margin EBITDA margin 3Qs2011 3Qs2012 13
Slide 14: Agenda
AGENDA LW BOGDANKA in three quarters of 2012 and after the balance-sheet date Situation on the coal market Financial highlights Extraction and investments at the Company in 3Qs 2012 Appendices – financial data 14
Slide 15: Extraction of commercial coal in LW BOGDANKA in 3Qs 2012
EXTRACTION OF COMMERCIAL COAL IN LW BOGDANKA IN 3Qs 2012 Gross extraction (8.58 million tonnes for three quarters of 2012, i.e. a 42.8% increase in comparison with three quarters of 2011) was executed with the use of maximum power and extraction capacity. Net extraction (6.07 million tonnes in t
Slide 16: Commercial coal yield
COMMERCIAL COAL YIELD 90% 81% 81% 80% 75% 74% 76% 74% 73% 74% 70% 71% 72% 72% 72% 71% 71% 67% 69% 70% 65% 66% 65% 65%64% 66% 64% 64% 60% 60% 58% 50% 40% 30% 20% 10% 0% January February March April May June July August September 2010 2011 2012 16
Slide 17: Key material investments of the LW BOGDANKA Group
Key material investments of the LW BOGDANKA Group in the 3Qs2012 and the 3Qs2011 Key material investments of the Outlays incurred Outlays incurred LW BOGDANKA Group in the from 1 January 2012 from 1 January 2011 3Q2012 and the 3Q2011 to 30 September 2012 to 30 September 2011 [PLN '000] Construction
Slide 18: Thank You
THANK YOU Lubelski Węgiel BOGDANKA S.A. Bogdanka, 21-013 Puchaczów Tel. +48 81 462 51 00 bogdanka@lw.com.pl Investor Relations Tel. +48 81 462 56 29 Fax +48 81 462 54 26 ri@lw.com.pl 18
Slide 19: Agenda
AGENDA LW BOGDANKA in three quarters of 2012 and after the balance-sheet date Situation on the coal market Financial highlights Extraction and investments at the Company in 3Qs 2012 Appendices – financial data 19
Slide 20: GK LW BOGDANKA - Profit and Loss Account
GK LW BOGDANKA - PROFIT AND LOSS ACCOUNT Change (PLN ‘000) 3Qs2012 3Qs2011 3Qs2012/3Qs2011 [%] Revenue 1 392 240 865 761 60.81 Cost of products, goods and materials sold, 1 060 174 767 118 38.20 sales and administrative costs Gross profit on sales 332 066 98 643 236.63 Other revenue 31 525 8 056 291
Slide 21: GK LW BOGDANKA - Balance Sheet
GK LW BOGDANKA - BALANCE SHEET (PLN ‘000) 2012.09.30 2011.12.31 Fixed assets, including: 2 840 487 2 674 216 Cash and cash equivalents 61 115 58 288 Current assets, including: 554 222 402 012 Cash and cash equivalents 212 279 102 820 Total assets 3 394 709 3 076 228 Current liabilities 380 013 307 0
Slide 22: GK LW BOGDANKA - Cash Flow
GK LW BOGDANKA - CASH FLOW (PLN ‘000) 3Qs2012 3Qs2011 Operating cash flow 540 248 237 989 Operating cash inflow 610 650 255 192 Interest paid (2 506) (1 833) Income tax paid (67 896) (15 370) Investing cash flow (394 739) (553 143) Acquisition of tangible fixed assets (382 626) (554 371) Interest pa
Slide 23: GK LW BOGDANKA - Sales Structure
GK LW BOGDANKA - SALES STRUCTURE Item (PLN ‘000) 3Qs2012 Share [%] 3Qs2011 Share [%] Coal sales 1 348 281 96.84 805 380 93.03 Sales of ceramics 5 007 0.36 7 043 0.81 Other activities 29 368 2.11 32 552 3.76 Sales of goods and 9 584 0.69 20 786 2.40 materials Total sales revenue 1 392 240 100.00 865
Slide 24: Structure of Costs by Type at Bogdanka
STRUCTURE OF COSTS BY TYPE AT BOGDANKA 3Qs2012 3Qs2011 1.59% 0.59% 1.95% 1.66% 18.35% 0.85% 1.67% 26.03% 12.12% 27.95% 30.16% 26.26% 25.23% 25.59% Depreciation and amortisation Materials and energy consumption External services Employee benefits Entertainment and advertising expenses Taxes, fees and
Slide 25: Disclaimer
DISCLAIMER This presentation ("Presentation") has been prepared by BOGDANKA S.A. ("Company"). The information contained in the Presentation has been gathered and prepared with due diligence, based on facts and information originating from sources which the Company views as reliable, and in particula
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