Sims Ltd. · ASX:SGM
Sims — Sims Metal Management — FY2011 Earnings Presentation
21 slides from Sims's earnings presentation, Aug 29, 2011
Slide 1: Financial results for the full year ended 30 June 2011
Financial results for the full year ended 30 June 2011 Sims Metal Management Limited ASX Code: SGM NYSE Code: SMS Supplemental Information 26 August 2011
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements, including statements about Sims Metal Management’s financial condition, results of operations, earnings outlook and prospects. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “antic
Slide 3: Financial Overview
Financial Overview FY 2011 FY 2010 Change (%) Sales Revenue ($m) 8,846.8 7,452.6 18.7 EBITDA ($m)* 431.7 352.9 22.3 Depreciation ($m) 102.2 109.1 (6.3) Amortisation ($m) 28.4 34.8 (18.4) EBIT ($m) 301.1 208.1 44.7 NPAT ($m) 192.1 126.7 51.6 EPS (cents) 93.3 64.5 44.7 Net cash inflow/(outflow) from o
Slide 4: Sales Revenue by Region
Sales Revenue by Region Australasia North America Europe Change $m FY 2011 FY 2010 (%) Australasia 1,369.2 1,221.3 12.1 North America 5,993.0 5,040.0 18.9 Europe 1,484.6 1,191.3 24.6 Total $8,846.8 $7,452.6 18.7
Slide 5: Sales Revenue by Product
Sales Revenue by Product Ferrous Trading Non Ferrous Shred Recovery Ferrous Brokerage Non Ferrous Trading Non Ferrous Brokerage Manufacturing/Other Recycling Solutions * Ferrous brokerage sales associated with SAR JV were A$1.0 billion and A$0.7 billion, in FY2011 and FY2010, respectively. $m FY 201
Slide 6: EBIT by Region
EBIT by Region Change FY 2011 FY 2010 $m (%) Australasia 87.3 81.2 7.5 North America 141.1 113.3 24.5 Europe 102.3 69.0 48.3 EBIT by Region* $330.7 $263.5 25.5 Unallocated Group Corporate Costs** (1.2) (20.6) 94.2 Amortisation of intangibles (28.4) (34.8) 18.4 EBIT $301.1 $208.1 44.7 *EBIT by Region
Slide 7: EBIT by Product
Change $m FY 2011 FY 2010 (%) Ferrous Trading (incl. NFSR) 181.7 133.2 36.4 Ferrous Brokerage 23.4 21.4 9.3 Non Ferrous Trading 92.9 95.5 (2.7) Non Ferrous Brokerage 1.6 3.2 (50.0) Manufacturing/JVs/Other 31.4 29.3 7.2 Recycling Solutions 114.4 89.4 28.0 EBIT by Product* $445.4 $372.0 19.7 Group & R
Slide 8: EBIT Change by Region
EBIT Change by Region Australasia $6m Europe (incl. UK) $33m North America $28m Group Corporate Costs $19m Amortisation of intangibles $7m
Slide 9: EBIT Change by Product
EBIT Change by Product Ferrous Trading & Brokerage (incl. NFSR) $50m Non Ferrous Trading & Brokerage ($4m) Recycling Solutions $25m Manufacturing/JVs/Other $2m Group and Regional Corporate Costs $13m Amortisation of Intangibles $7m
Slide 10: Intake Volume by Region
Intake Volume by Region Australasia North America Europe Change Total Tonnes (‘000’s) FY 2011 FY 2010 (%) Australasia 1,745 1,718 1.6 North America 11,044 10,156 8.7 Europe 1,482 1,449 2.3 Total 14,271 13,323 7.1
Slide 11: Intake Volume by Product
Intake Volume by Product Ferrous Shredded (incl. NFSR) Other Processed Ferrous Ferrous Brokerage Non Ferrous Trading/Brokerage Other Change Total Tonnes (‘000’s) FY 2011 FY 2010 (%) Ferrous Shredded (inc. NFSR) 5,489 5,346 2.7 Other Processed Ferrous 4,732 4,057 16.6 Ferrous Brokerage* 3,433 3,271 5
Slide 12: Sales Volume by Region
Sales Volume by Region Australasia North America Europe Change Total Tonnes (‘000’s) FY 2011 FY 2010 (%) Australasia 1,774 1,597 11.1 North America 10,964 9,906 10.7 Europe 1,466 1,394 5.2 Total 14,204 12,897 10.1
Slide 13: Sales Volume by Product
Sales Volume by Product Ferrous Shredded (inc. NFSR) Other Processed Ferrous Ferrous Brokerage Non Ferrous Trading/Brokerage Other Change Total Tonnes (‘000’s) FY 2011 FY 2010 (%) Ferrous Shredded (inc. NFSR) 5,416 5,164 4.9 Other Processed Ferrous 4,663 3,866 20.6 Ferrous Brokerage* 3,518 3,264 7.8
Slide 14: Sales by Destination
Sales by Destination Europe NE Asia China & HK SE Asia & Oceania Middle East USA/Canada South/Central America Domestic Sales • Domestic sales refer to sales in country of sourcing
Slide 15: Group Income Statement
Group Income Statement $m FY 2011 FY 2010 Change ($) Change (%) Sales Revenue $8,846.8 $7,452.6 $1,394.2 18.7 EBITDA* 431.7 352.9 78.8 22.3 EBIT 301.1 208.1 93.0 44.7 Net Interest Expense (23.9) (13.6) (10.3) (75.7) Tax Expense (85.1) (67.8) (17.3) (25.5) Net Profit After Tax $192.1 $126.7 $65.4 51.
Slide 16: Group Balance Sheet
Group Balance Sheet $m FY 2011 FY 2010 Change ($) Change (%) Current Assets 1,766.5 1,494.1 272.4 18.2 Non-current Assets 2,413.3 2,745.6 (332.3) (12.1) Total Assets 4,179.8 4,239.7 (59.9) (1.4) Current Liabilities 823.3 674.1 149.2 22.1 Non-current Borrowings 291.2 116.6 174.6 149.7 Other Non-curre
Slide 17: Group Cash Flow
Group Cash Flow $m FY 2011 FY 2010 Change ($) Profit / (Loss) for the year 192.1 126.7 65.4 Adjustments for non-cash items Depreciation and amortisation 130.6 143.9 (13.3) Share-based payment 15.7 16.9 (1.2) Equity accounted profits net of dividends received (13.7) 5.2 (18.9) Other (11.7) 1.1 (12.8)
Slide 18: North America Regional Results
North America Regional Results FY 2011 FY 2010 Change (%) Sales Revenue ($m) $5,993.0 $5,040.0 18.9 EBITDA ($m)* $197.4 $178.6 10.5 Depreciation (56.3) (64.4) 12.6 EBITA ($m)* $141.1 $114.2 23.6 Amortisation of intangibles (26.0) (32.3) 19.5 EBIT ($m)* $115.1 $81.9 40.5 Assets ($m) $2,656.0 $3,032.3
Slide 19: Australasia Regional Results
Australasia Regional Results FY 2011 FY 2010 Change (%) Sales Revenue ($m) $1,369.2 $1,221.3 12.1 EBITDA ($m) $108.7 $102.2 6.4 Depreciation ($m) (21.4) (21.0) (1.9) EBITA ($m)* $87.3 $81.2 7.5 Amortisation of intangibles ($m) (0.3) (0.1) (200.0) EBIT ($m)* $87.0 $81.1 7.3 Assets ($m) $633.0 $562.8
Slide 20: Europe Regional Results
Europe Regional Results FY 2011 FY 2010 Change (%) Sales Revenue ($m) $1,484.6 $1,191.3 24.6 EBITDA ($m) $126.4 $91.9 37.5 Depreciation ($m) (24.1) (22.9) (5.2) EBITA ($m) $102.3 $69.0 48.3 Amortisation of intangibles ($m) (2.1) (2.4) 12.5 EBIT ($m) $100.2 $66.6 50.5 Assets ($m) $890.8 $644.6 38.2 E
Slide 21: Right. Now.
Right. Now.