Sims Ltd. · ASX:SGM
Sims — Sims Metal Management — FY2009 Earnings Presentation
19 slides from Sims's earnings presentation, Aug 28, 2009
Slide 1: Financial results for the full year ended 30 June 2009
For personal use only Financial results for the full year ended 30 June 2009 Sims Metal Management Limited ASX Code: SGM NYSE Code: SMS Supplemental Information 28 August 2009
Slide 2: Disclaimer
Disclaimer For personal use only 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,” “bel
Slide 3: Financial Overview
Financial Overview For personal use only FY 2009 FY 2008 Change (%) Sales Revenue ($m) 8,636.2 7,665.6 12.7 EBITDA ($m) 259.0 790.5 (67.1) Depreciation ($m) 120.7 65.8 83.4 Amortisation ($m) 50.1 29.3 71.0 EBIT Pre-goodwill impairment ($m) 88.2 695.4 (87.3) EBIT Post-goodwill impairment ($m) (102.9)
Slide 4: Sales Revenue by Region
Sales Revenue by Region For personal use only FY 2009 FY 2008 12.9% 13.4% 17.1% 22.8% Australasia North America Europe 73.7% 60.1% Change • FY2008 only includes the MMI acquisition for three $m FY 2009 FY 2008 (%) months. FY2008 pro-forma sales revenue inclusive of the MMI merger was $10.2 billion.
Slide 5: Sales Revenue by Product
Sales Revenue by Product For personal use only FY 2009 FY 2008 2.6% 6.7% 4.7% 7.3% 1.5% Ferrous Trading 3.6% 12.3% Non Ferrous Shred Recovery Ferrous Brokerage 13.7% 48.7% 49.7% Non Ferrous Trading Non Ferrous Brokerage 25.0% Manufacturing/Other 17.9% 3.2% Recycling Solutions 3.1% Change • Ferrous b
Slide 6: EBIT by Region
EBIT by Region For personal use only $500 441.1 ($'s in millions) $400 $300 209.4 153.8 $200 FY 2009 46.9 97.9 $100 FY 2008 (32.3) (50.1) $0 (30.1) (23.7) (29.3) -$100 Australasia North America Europe Corporate Costs Intangibles Atypical items in FY09 Change FY 2009 FY 2008 other than goodwill North
Slide 7: EBIT by Product (pre-goodwill impairment)
EBIT by Product (pre-goodwill impairment) For personal use only $600 511.9 $500 ($’s in millions) $400 258.3 $300 94.5 $200 40.1 FY 2009 66.9 71.4 89.6 $100 31.4 22.6 FY 2008 $0 ($100) (8.3) (7.3) (62.5) Change • EBIT by product is presented pre-corporate costs $m FY 2009 FY 2008 (%) (including grou
Slide 8: EBIT Change by Region
EBIT Change by Region* For personal use only 800 700 600 -163 500 -128 $ million 400 695 300 -287 200 100 -8 -21 88 0 FY08 EBIT Australasia Europe (inc. UK) North America Corporate Intangibles FY09 EBIT Costs Australasia ($ 163m) Europe (incl. UK) ($ 128m) North America ($ 287m) Group Corporate Cost
Slide 9: EBIT Change by Product
EBIT Change by Product* For personal use only 800 700 600 -245 500 $ million 400 695 -160 300 -97 200 -23 100 -61 -21 88 0 FY08 EBIT Ferrous Non Ferrous Recycling Manufacturing/ Corporate Intangibles FY09 EBIT (incl. NFSR) Solutions JVs/Other Costs Ferrous Trading & Brokerage (incl. NFSR) ($ 245m) N
Slide 10: Intake Volumes
Intake Volumes For personal use only FY 2009 FY 2008 3.5% 0.4% Ferrous Shredded (incl. 0.5% 4.0% NFSR) 29.6% Other Processed 33.6% Ferrous 27.6% 34.1% Ferrous Brokerage Non Ferrous Trading/Brokerage Other 32.9% 33.8% Change • FY2008 includes MMI for only three months. Total Tonnes (‘000’s) FY 2009 F
Slide 11: Sales Volumes
Sales Volumes For personal use only FY 2009 FY 2008 1.5% 3.5% 1.0% Ferrous Shredded (incl. 3.9% NFSR) Other Processed 29.1% 32.8% 28.1% 34.3% Ferrous Ferrous Brokerage Non Ferrous Trading/Brokerage Other 33.6% 32.2% Change • FY2008 includes MMI for only three months. Total Tonnes (‘000’s) FY 2009 FY
Slide 12: Sales by Destination
Sales by Destination For personal use only FY 2009 FY 2008 21% 32% 21% 33% 11% 11% 4% 3% 1% 9% 1% 16% 3% 2% 13% 19% Europe • Domestic sales refer to sales in country of sourcing NE Asia China & HK SE Asia & Oceania Middle East USA/Canada South/Central America Domestic Sales 11
Slide 13: Group Income Statement
Group Income Statement For personal use only $m FY 2009 FY 2008 Change ($) Change (%) Sales Revenue $ 8,636.2 $ 7,665.6 970.6 12.7 EBITDA 259.0 790.5 (531.5) (67.1) EBIT (pre-goodwill impairment) 88.2 695.4 (607.2) (87.3) Non-cash goodwill impairment 191.1 3.3 187.8 - EBIT $ (102.9) $ 692.1 $ (795.0
Slide 14: Group Balance Sheet
Group Balance Sheet For personal use only $m FY 2009 FY 2008 Change ($) Change (%) Current Assets 985.9 2,014.4 (1,028.5) (51.1) Non-current Assets 2,822.7 2,632.0 190.7 7.3 Total Assets 3,808.6 4,646.4 (837.8) (18.0) Current Liabilities 577.0 1,225.0 (648.0) (52.9) Non-current Borrowings 174.3 397.
Slide 15: Group Cash Flow
Group Cash Flow For personal use only $m FY 2009 FY 2008 Change ($) (Loss)/profit for the year (150.3) 440.1 (590.4) Adjustments for non-cash items Depreciation and amortisation 170.8 95.1 75.7 Impairment of goodwill 191.1 3.3 187.8 Net gain on contribution of assets to SA Recycling LLC - (38.8) 38.
Slide 16: North America Regional Results
North America Regional Results For personal use only FY 2009 FY 2008 Change (%) Sales Revenue ($m) $ 6,368.5 $ 4,607.9 38.2 EBITDA ($m)* $ 228.1 $ 471.0 (51.6) Depreciation (74.3) (29.9) 148.5 EBITA ($m)* $ 153.8 $ 441.1 (65.1) Amortisation of intangibles (47.1) (24.2) (94.6) EBIT ($m)* $ 106.7 $ 41
Slide 17: Australasia Regional Results
Australasia Regional Results For personal use only FY 2009 FY 2008 Change (%) Sales Revenue ($m) $ 1,158.6 $ 1,745.1 (33.6) EBITDA ($m)* $ 67.5 $ 226.3 (70.2) Depreciation ($m) (20.6) (16.9) 21.9 EBITA ($m)* $ 46.9 $ 209.4 (77.6) Amortisation of intangibles ($m) (0.1) (0.1) - EBIT ($m)* $ 46.8 $ 209
Slide 18: Europe Regional Results
Europe Regional Results For personal use only FY 2009 FY 2008 Change (%) Sales Revenue ($m) $ 1,109.1 $ 1,312.6 (15.5) EBITDA ($m) $ (6.3) $ 116.8 (105.4) Depreciation ($m) (23.8) (18.9) 25.9 EBITA ($m) $ (30.1) $ 97.9 (130.8) Amortisation of intangibles ($m) (2.9) (3.9) (25.6) EBIT ($m) $ (33.0) $
Slide 19: For personal use only
For personal use only Right. Now.