Ccl Industries Inc. Class A · TSX:CCL.A
Ccl Industries Inc. Class A — Q3 2004 Earnings Presentation
16 slides from Ccl Industries Inc. Class A's earnings presentation, Oct 29, 2004
Slide 1: Investor Update Third Quarter 2004 Review
Investor Update Third Quarter 2004 Review Friday, October 29, 2004 Disclaimer Any forward-looking statements contained in this presentation involve risks, uncertainties and assumptions and should not be taken as guarantees of future performance. Actual results could vary materially from those antici
Slide 2: Statement of Earnings - Third Quarters
Statement of Earnings Third Quarters Ended September 30th (Millions of Cdn $, except per share data) Net of currency translation & 2004 2003 Change divestitures 1) Sales $ 378.3 $ 354.5 +6.7% +17% EBITDA 45.4 41.1 +10.5% Net of currency translation, transactions Depreciation, and amortization of oth
Slide 3: Statement of Earnings - Nine Months
Statement of Earnings Nine Months Ended September 30th (Millions of Cdn $, except per share data) Net of currency translation & 2004 2003 Change divestitures 1) Sales $ 1,145.8 $ 1,171.7 (2.2%) +10% EBITDA 127.8 131.6 (2.9%) Net of currency translation, transactions Depreciation, and amortization of
Slide 4: Earnings per Class B Share
Earnings per Class B Share Nine Months Ended September 30th (Millions of Cdn $, except per share data) Q3 YTD 2004 2004 Before Unusual Items $ 0.45 $ 1.28 Sale of Winnipeg +0.14 +0.14 Sale of Leeds property +0.21 +0.21 Plastic business restructuring & asset write-down (0.18) (0.18) Label Division as
Slide 5: E.P.S. Bridge before Unusual Items
E.P.S. Bridge before Unusual Items Third Quarters Ended September 30th (Millions of Cdn $, except per share data) 3rd Quarter YTD Full Year 2004 2004 2003 vs. vs. vs. 2003 2003 2002 3Q 03 $0.43 YTD 03 $1.39 2002 $1.70 Operations +0.08 +0.06 +0.09 Interest rate swaps +0.01 +0.03 +0.06 Tax rate +0.01
Slide 6: Impact of Changes in Exchange Rates
Impact of Changes in Exchange Rates 2003 - 2004 Currency Translation: 2003 – Negative effect of U.S. dollar (down 11% on average); partly offset by European currency strength 2004 – U.S. dollar averaged $1.33 vs. $1.43 in 2003, for first nine months of the year Currency Transactions (U.S. $ Forwards
Slide 7: Balance Sheet
Balance Sheet As At September 30th (Millions of Cdn $, except Book Value per Share) 2004 2003 Change Net working capital (receivables, inventory, prepaids, payables and accruals) $ 79.4 $ 78.2 +1.5% Capital assets (net) $ 461.2 $ 410.2 +12.4% Goodwill $ 335.7 $ 263.6 +27.4% Total assets $ 1,261.3 $
Slide 8: Debt Summary
Debt Summary As At September 30th (Millions of Cdn $) Increase 2004 2003 (Decrease) Bank advances $ 40.1 $ 13.8 $ 26.3 Long-term debt - senior notes (2004 - $304.9 MM U.S., 2003 - $314.2 MM U.S.) 384.7 424.2 (39.5) Long-term debt - all other 16.8 8.0 8.8 Total debt 441.6 446.0 (4.4) Cash and cash eq
Slide 9: Cash Flow Highlights
Cash Flow Highlights Nine Months Ended September 30th (Millions of Cdn $) Inflows: 2004 2003 Net earnings $ 45.3 $ 35.6 Depreciation, & amortization of other assets 54.5 52.0 Stock-based compensation 0.2 - Future income taxes 3.6 11.8 1) Unusual items (3.9) 9.3 Gross Cash Inflow 99.7 108.7 Outflows:
Slide 10: Capital Spending Highlights
Capital Spending Highlights Nine Months Ended September 30th, 2004 (Millions of Cdn $) Capital Divisions Spending Depreciation Difference Major Investment Projects Custom Manufacturing $ 14.1 $ 16.8 $ (2.7) German expansion $ 1.7 Container 31.2 13.2 18.0 Penetang (4 new Aerosol lines) $ 22.9 Label 3
Slide 11: Income From Operations
Income From Operations Nine Months Ended September 30th (Millions of Cdn $) Excl. currency translation, transactions & 2004 2003 Change divestitures Custom Manufacturing $ 27.5 $ 32.8 (16.2%) (4.3%) Container 13.0 27.3 (52.4%) (12.4%) Label 39.1 25.9 +51.0% +62.1% 79.6 86.0 (7.4%) +15.9% Corporate e
Slide 12: Custom Manufacturing
Custom Manufacturing Third Quarters Ended September 30th Excl. currency translation & (in millions of Cdn dollars) 2004 2003 % transactions 1) Sales $ 205.1 $ 183.6 11.7% 15.0% Operating Income $ 12.1 $ 10.0 21.0% +34.0% Return on Sales 5.9% 5.4% Return on Service Revenue 19.6% 16.8% EBITDA $ 19.3 $
Slide 13: Custom Manufacturing Unit Volume
Custom Manufacturing Unit Volume - Millions Third Quarters Ended September 30th 3rd QUARTERS YTD 2004 2003 2004 2003 ACT ACT Change ACT ACT Change Aerosol / sticks - North America 98.2 101.7 (3.4% ) 288.8 315.7 (8.5% ) Liquid - North America 97.3 72.5 34.2% 263.4 239.7 9.9% Total North America 195.5
Slide 14: Container
Container Third Quarters Ended September 30th Excl. currency translation, transactions & (in millions of Cdn dollars) 2004 2003 % divestitures 1) Sales $ 54.0 $ 70.1 (23.0%) +8.0% Operating Income $ 4.0 $ 7.5 (46.7%) +8.7% Return on Sales 7.4% 10.7% EBITDA $ 8.6 $ 12.3 (30.1%) % of Sales 15.9% 17.5%
Slide 15: Container Unit Volume Comparison
Container Actual Unit Volume Comparison Q3 2004 YTD 2004 Year 2003 vs. vs. vs. Q3 2003 YTD 2003 Year 2002 Aerosol Cans & Beverage Bottles +24.2% +21.5% +14.8% Plastic Tubes +0.7% (7.3%) (2.7%) 15
Slide 16: Label
Label Third Quarters Ended September 30th Excl. currency (in millions of Cdn dollars) 2004 2003 % translation 1) Sales $ 119.2 $ 100.8 +18.3% +24.4% Operating Income $ 10.5 $ 8.5 +23.5% +33.7% Return on Sales 8.8% 8.4% EBITDA $ 18.7 $ 15.2 +23.0% % of Sales 15.7% 15.1% 1) Excluding foreign exchange,