Mayr-Melnhof Karton AG · VIE:MMK
Mayr-Melnhof Karton — H1 2012 Earnings Presentation
27 slides from Mayr-Melnhof Karton's earnings presentation, Aug 16, 2012
Slide 1: 1st Half-year Results 2012
Mayr-Melnhof Group 1st Half-year Results 2012 August 16, 2012
Slide 2: Market Position
Mayr-Melnhof Group 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, Growing presence outside of Europe 2
Slide 3: 39 Production Sites
Mayr-Melnhof Group 39 Production Sites - 39 Plants - in 18 Countries - on 4 Continents 8,618 Employees 3
Slide 4: Highlights 1st Half-Year 2012
Mayr-Melnhof Group Highlights 1st Half-Year 2012 • Sales held up • Non-recurring items weighed on solid results development • High capacity utilization in the first half of the year - customers are however planning more cautiously • Path of expansion continued 4
Slide 5: MMP - Entry Columbia
Mayr-Melnhof Packaging MMP - Entry Columbia Interest in largest Columbian folding carton manufacturer, Gráficas Los Andes, Santiago de Cali, acquired. 5
Slide 6: Development Center Rotogravure, Trier
Mayr-Melnhof Packaging Development Center Rotogravure, Trier 6
Slide 7: Development Center Rotogravure, Trier
Mayr-Melnhof Packaging Development Center Rotogravure, Trier Set-up of worldwide most modern development center for packaging gravure targeting on new growth opportunities with customers Start of operations: September 2012 7
Slide 8: New High-Performance Plant in Poland
Mayr-Melnhof Packaging New High-Performance Plant in Poland 8
Slide 9: New High-Performance Plant in Poland
Mayr-Melnhof Packaging New High-Performance Plant in Poland In line with the dynamic expansion of MM Packaging in Poland, a state-of-the-art folding carton plant is currently built in Bydgoszcz to be commissioned in January 2013 9
Slide 10: MMP in Chile
Mayr-Melnhof Packaging MMP in Chile Shareholding in Chilean Market Leader, Marinetti, Increased from 70% to 100%. 10
Slide 11: Group Results 1st Half-Year 2012
Group Results 1st Half-Year 2012 11
Slide 12: Group Results 1st Half-Year 2012
Mayr-Melnhof Group Group Results 1st Half-Year 2012 consolidated in millions of EUR, IFRS 1st HY/2012 1st HY/2011 +/- Sales 975.0 988.2 -1.3 % Operating profit 79.1 92.7 -14.7 % Operating margin (in %) 8.1 % 9.4 % Profit before tax 71.9 88.8 -19.0 % Income tax expense (20.7) (24.8) Profit for the pe
Slide 13: MM Group: Quarterly Overview
Mayr-Melnhof Group MM Group: Quarterly Overview millinos of EUR 13
Slide 14: Sales by Region
Mayr-Melnhof Group Sales by Region Latin America 4.3% 14
Slide 15: Consolidated Balance Sheet
Mayr-Melnhof Group Consolidated Balance Sheet consolidated in millions of EUR, IFRS Jun. 30, 2012 Dec. 31, 2011 Non-current assets 707.2 695.1 Current assets 846.8 871.5 Total assets 1,554.0 1,566.6 Equity 1,021.4 1,005.9 Liabilities 532.6 560.7 Total equity and liabilities 1,554.0 1,566.6 Total fun
Slide 16: Consolidated Cash-flow Statement
Mayr-Melnhof Group Consolidated Cash-flow Statement consolidated in millions of EUR, IFRS 1st HY/2012 1st HY/2011 Cash flow from operating activities 57.9 51.3 Cash flow from investing activities (69.9) (62.7) Cash flow from financing activities (60.3) (32.6) Cash and cash equivalents beg. of the pe
Slide 17: Mayr-Melnhof Karton
Mayr-Melnhof Karton MM KARTON AG
Slide 18: MMK 1st Half-year 2012
Mayr-Melnhof Karton MMK 1st Half-year 2012 • Short-term pick-up in demand at the start of the year, followed by clearly more cautious planning of our customers • Enhanced supply of non-European customers as of Q2 • Capacity utilization 97 % (1st HY 2011: 99 %) • Strong increase in raw material price
Slide 19: MMK Results 1st Half-Year 2012
Mayr-Melnhof Karton MMK Results 1st Half-Year 2012 in millions of EUR, IFRS 1st HY/2012 1st HY/2011 +/- Sales 466.5 492.5 -5.3 % Operating profit 29.5 43.3 -31.9 % Operating margin (in %) 6.3 % 8.8 % Tonnage sold (in thousands of tons) 765 803 -4.7 % Tonnage produced (in thousands of tons) 788 797 -
Slide 20: MMK - Quarters
Mayr-Melnhof Karton MMK - Quarters in millions of EUR, IFRS 1Q/2011 2Q/2011 3Q/2011 4Q/2011 1Q/2012 2Q/2012 Sales 243.4 249.1 241.3 213.4 231.4 235.1 Operating profit 24.3 19.0 13.4 11.7 16.6 12.9 Operating margin (in %) 10.0 % 7.6 % 5.6 % 5.5 % 7.2 % 5.5 % Tonnage sold (in thousands of tons) 399 40
Slide 21: Mayr-Melnhof Packaging
Mayr-Melnhof Packaging 21
Slide 22: MMP 1st Half-Year 2012
Mayr-Melnhof Packaging MMP 1st Half-Year 2012 • European folding carton market characterized by general decline in consumption and intensified competition • MMP holds up its grounds focusing on high efficiency and attractive market segments • Heterogeneity in capacity utilization and profit contribu
Slide 23: MMP Results 1st Half-Year 2012
Mayr-Melnhof Packaging MMP Results 1st Half-Year 2012 in millions of EUR, IFRS 1st HY/2012 1st HY/2011 +/- Sales 560.6 554.0 +1.2 % Operating profit 49.6 49.4 +0.4 % Operating margin (in %) 8.8 % 8.9 % Tonnage processed (in thousands of tons) 323 345 -6.4 % 23
Slide 24: MMP - Quarters
Mayr-Melnhof Group MMP - Quarters in millions of EUR, IFRS 1Q/2011 2Q/2011 3Q/2011 4Q/2011 1Q/2012 2Q/2012 Sales 281.2 272.8 296.6 274.3 289.3 271.3 Operating profit 25.7 23.7 29.3 23.8 25.5 24.1 Operating margin (in %) 9.1 % 8.7 % 9.9 % 8.7 % 8.8 % 8.9 % Tonnage processed (in thousands of tons) 177
Slide 25: Outlook
Mayr-Melnhof Group Outlook • General climate with recession indication in European main market hold up • Conservative customers’ planning and intensifies competition prevails on cartonboard and folding carton markets • Rely on flexibility and cost efficiency to defend margins and market shares • Any
Slide 26: APPENDIX
APPENDIX 26
Slide 27: MM Group - Quarters
Mayr-Melnhof Group MM Group - Quarters consolidated in millions of EUR, IFRS 1Q/2011 2Q/2011 3Q/2011 4Q/2011 1Q/2012 2Q/2012 Sales 494.7 493.5 510.6 460.8 494.9 480.1 EBITDA 70.7 62.5 62.4 56.2 62.6 59.2 EBITDA margin (in %) 14.3 % 12.7 % 12.2 % 12.2 % 12.6 % 12.3 % Operating profit 50.0 42.7 42.7 3