Mayr-melnhof Karton Ag · VIE:MMK
Mayr-melnhof Karton — H1 2014 Earnings Presentation
20 slides from Mayr-melnhof Karton's earnings presentation, Aug 19, 2014
Slide 1: First Half-Year Results 2014
MAYR-MELNHOF GROUP First Half-Year Results 2014 August 19, 2014
Slide 2: Market Position
Market Position MM KARTON World‘s largest producer of recycled fiber based cartonboard with a rising position in virgin fiber based board MM PACKAGING Leading European folding carton producer with growing presence outside of Europe 2
Slide 3: 41 Production Sites
41 Production Sites - 41 Plants - in 20 Countries - on 4 Continents 9,502 Employees MM Karton, 7 Mills MMK FollaCell MM Packaging, 34 Plants 3
Slide 4: Headlines 1st Half-Year 2014
Headlines 1st Half-Year 2014 • Profit and sales above previous year • Margin at MM Karton improved • Continuing lack of impulses from private consumption 4
Slide 5: Group Results 1st Half-Year 2014
Group Results 1st Half-Year 2014 consolidated in millions of EUR, IFRS 1st HY/2014 1st HY/2013 +/- Sales 1,033.1 981.8 +5.2 % Operating profit 88.7 77.5 +14.5 % Operating margin (in %) 8.6 % 7.9 % Profit before tax 82.7 73.4 +12.7 % Income tax expense (21.7) (18.7) Profit for the period 61.0 54.7 +1
Slide 6: MM Group – Quarterly Overview
MM Group – Quarterly Overview 600 Sales Operating Margin 14% 500 12% 400 10% 8% 300 6% 200 4% 100 2% in millions of EUR - 0% Sales Operating Margin 6
Slide 7: Sales by Destination
Sales by Destination Western Europe Westeuropa 59 % Eastern Europe Osteuropa 26 % Asia 6% Sonstige Other Latin AsienAmerica 4% 5% 7
Slide 8: Consolidated Balance Sheet
Consolidated Balance Sheet consolidated in millions of EUR, IFRS Jun. 30, 2014 Dec. 31, 2013 Non-current assets 805.1 791.3 Current assets 863.1 911.2 Total assets 1,668.2 1,702.5 Equity 1,063.8 1,111.8 Liabilities 604.4 590.7 Total equity and liabilities 1,668.2 1,702.5 Total funds available to the
Slide 9: Mayr-Melnhof Karton
Mayr-Melnhof Karton
Slide 10: MM Karton Overview 1st Half-Year 2014
MM Karton Overview 1st Half-Year 2014 • Stable market development • Continuous cautious / short-term planning of customers • Capacity utilization 1HY 2014: 98% (1HY: 2013: 99%) • Extended product mix and better average prices • Stability on raw materials markets, decline in specific energy prices •
Slide 11: MMK Results 1st Half-Year 2014
MMK Results 1st Half-Year 2014 in millions of EUR, IFRS 1st HY/2014 1st HY/2013 +/- Sales 511.4 476.7 +7.3 % Operating profit 39.0 26.9 +45.0 % Operating margin (in %) 7.6 % 5.6 % Tonnage sold (in thousands of tons) 806 803 +0.4 % Tonnage produced (in thousands of tons) 805 804 +0.1 % Employees 2,58
Slide 12: MMK – Quarterly Overview
MMK – Quarterly Overview in millions of EUR, IFRS 1Q/2013 2Q/2013 3Q/2013 4Q/2013 1Q/2014 2Q/2014 Sales 237.6 239.1 249.5 238.4 259.4 252.0 Operating profit 11.3 15.6 25.7 12.7 18.8 20.2 Operating margin (in %) 4.8 % 6.5 % 10.3 % 5.3 % 7.2 % 8.0 % Tonnage sold (in thousands of tons) 404 399 410 386
Slide 13: MM FoodBoard
MM FOODBOARDTM Cartonboard-Novelty for optimal protection of food Major investment at Austrian Frohnleiten main mill (EUR ~ 50 Mio.) Implementation focus in 4th quarter of 2014 13
Slide 14: Mayr-Melnhof Packaging
Mayr-Melnhof Packaging
Slide 15: MMP Overview 1st Half-Year 2014
MMP Overview 1st Half-Year 2014 • Demand reflects overall weak picture of private consumption in Europe • Intensive competition • Rise in volume and market share • Further efficiency and productivity gains • Expansion course continued (new site in Gaziantep, TK) • Continuity in sales and earnings 15
Slide 16: MMP – 1st Half-Year 2014
MMP – 1st Half-Year 2014 in millions of EUR, IFRS 1st HY/2014 1st HY/2013 +/- Sales 573.0 557.5 +2.8 % Operating profit 49.7 50.6 -1.8 % Operating margin (in %) 8.7 % 9.1 % Tonnage processed (in thousands of tons) 351 334 +5.1 % Sheet equivalent (in millions) 986.6 924.9 +6.7 % Employees 6,917 6,940
Slide 17: MMP – Quarterly Overview
MMP – Quarterly Overview in millions of EUR, IFRS 1Q/2013 2Q/2013 3Q/2013 4Q/2013 1Q/2014 2Q/2014 Sales 285.6 271.9 292.0 289.2 290.4 282.6 Operating profit 27.1 23.5 27.0 22.5 27.4 22.3 Operating margin (in %) 9.5 % 8.6 % 9.2 % 7.8 % 9.4 % 7.9 % Tonnage processed (in thousands of tons) 168 166 168
Slide 18: Outlook
Outlook • Overall stable but regionally more heterogeneous picture • Lack of market momentum – intensified competition • Continuation of growth path • Focus on productivity, volume increase, optimization of product portfolio • Target – Keep high level profitability 18
Slide 19: Appendix
Appendix KARTON AG
Slide 20: MM Group – Quarterly Overview
MM Group – Quarterly Overview consolidated in millions of EUR, IFRS 1Q/2013 2Q/2013 3Q/2013 4Q/2013 1Q/2014 2Q/2014 Sales 496.7 485.1 515.3 502.3 523.9 509.2 EBITDA 60.3 61.8 73.5 56.7 68.5 65.0 EBITDA margin (in %) 12.1 % 12.7 % 14.3 % 11.3 % 13.1 % 12.8 % Operating profit 38.4 39.1 52.7 35.2 46.2