Cognor Holding Sa · GPW:COG
Cognor Holding Sa — Q2 2012 Earnings Presentation
19 slides from Cognor Holding Sa's earnings presentation, Sep 4, 2012
Slide 1: Q2 2012 Business and Financial Performance
Q2 2012 Business and Financial Performance September 04, 2012 1 2012-05-18
Slide 2: Content
Content 1. Introduction 2. Business overview 3. Financials 4. Q3 2012 outlook 5. Q&A 2 2012-05-18
Slide 3: Introduction
Section 1 Introduction 3 2012-05-18
Slide 4: Introduction: Speaker
Introduction Speaker Krzysztof Zoła CFO Age – 40 10 years with the Company 4 2012-05-18
Slide 5: Q2 2012 Highlights
Introduction Q2 2012 Highlights • Seasonal improvement of margins on lower scrap metal prices; soft steel prices and fragile demand especially from automotive industry • 7,6% increase in revenues; shipments up by 9,5% fueled by scrap metal and semi-finished products while finished products’ volume d
Slide 6: Business Overview
Section 2 Business Overview 6 2012-05-18
Slide 7: Business Overview: Environment
Business Overview Environment CRUDE STEEL PRODUCTION (1) Q2 2012 % YoY Q2 2011 Y 2011 million tonnes Poland 2,1 -9% 2,3 8,8 EU (27) 45,0 -6% 48,0 177,4 China 182,0 2% 179,2 683,3 Global 388,4 1% 384,3 1 490,1 UNIT PRICES (2) Q2 2012 % YoY Q2 2011 Q1 2012 PLN / tonne Scrap metal 1 060 7% 988 1 117 Bi
Slide 8: Segments: Scrap Metal
Business Overview Segments SCRAP METAL Q2 2012 Q1 2012 Q2 2011 PURCHASES FROM EXTERNAL SUPPLIERS Tonnes FERR 49 505 45 914 34 357 ZLMET 99 760 108 364 111 832 ZLMET HSJ 23 440 29 372 36 994 purchases down by INTERNAL USE Tonnes 10,8% yoy FERR 110 885 93 176 94 197 HSJ 48 424 61 684 63 023 total SALE
Slide 9: Segments: Billets
Business Overview Segments BILLETS Q2 2012 Q1 2012 Q2 2011 FERR steel PRODUCTION Tonnes production up by FERR 97 807 79 708 80 516 21,5% yoy HSJ 42 424 53 420 55 844 INTERNAL USE Tonnes FERR 20 040 25 219 20 661 HSJ steel HSJ 38 215 53 420 50 588 production SALES TO EXTERNAL CUSTOMERS Tonnes down by
Slide 10: Segments: Finished Products
Business Overview Segments FINISHED PRODUCTS Q2 2012 Q1 2012 Q2 2011 FERR sales down by PRODUCTION Tonnes 16,4% yoy FERR / ZWWB 20 000 17 539 20 703 HSJ 34 763 42 645 44 437 SALES TO EXTERNAL CUSTOMERS Tonnes FERR 17 447 17 150 20 300 HSJ sales down by HSJ 36 068 45 282 43 616 17,3% yoy SALES ‘000 P
Slide 11: Financials
Section 3 Financials 11 2012-05-18
Slide 12: Income Statement
Financials INCOME STATEMENT Q2 2012 Q1 2012 Q2 2011 '000 PLN Revenue 428 763 399 419 398 654 Cost of sales -386 409 -371 944 -350 535 Gross profit 42 354 27 475 48 119 • Gross profit down by PLN 5.8m and 12% yoy Other income 2 198 2 691 4 486 Distribution expenses -10 833 -7 972 -8 488 Administrativ
Slide 13: Assets
Financials ASSETS Q2 2012 Q1 2012 Q2 2011 '000 PLN A. TOTAL NON-CURRENT ASSETS 485 835 491 110 465 127 I. Intangible assets 15 339 16 257 18 329 II. Property, plant and equipment 332 848 341 225 357 642 • A.III. includes PLN 42.6m of III. Other receivables 42 870 41 888 244 the Croatian Claim IV. In
Slide 14: Equity and Liabilities
Financials EQUITY AND LIABILITIES Q2 2012 Q1 2012 Q2 2011 '000 PLN A. EQUITY 187 144 190 709 207 792 I. Issued share capital 132 444 132 444 132 444 II. Reserves and retained earnings 41 948 46 349 65 963 III. Minority interest 12 752 11 916 9 385 B. LIABILITIES 804 307 833 635 792 069 I. Non-curren
Slide 15: Cash Flow and Main Metrics
Financials CASH FLOW Q2 2012 Q1 2012 Q2 2011 '000 PLN A. FROM OPERATING ACTIVITIES 40 000 -5 368 -20 202 • A. Working capital inflow of PLN 14.0m B. FROM INVESTING ACTIVITIES 6 281 21 141 -751 C. FROM FINANCING ACTIVITIES -26 572 12 792 -97 327 NET INCREASE IN CASH 26 915 28 565 85 280 MAIN METRICS
Slide 16: Q3 2012 Outlook
Section 4 Q3 2012 Outlook 16 2012-05-18
Slide 17: Q3 2012 Outlook: Main factors
Q3 2012 Outlook Main factors • Recession in many EU economies • Polish GDP just above 2% • EU and Polish steel production down • Production, sales and EBITDA lower compared to Q2 2012; utilization rates to fall with regards to FERR in particular 17 2012-05-18
Slide 18: Q&A
> \ | yi \s Section 5 Together reach more Q&A 18 2012-05-18
Slide 19: COGNOR SA contact details
COGNOR SA ul. Zielona 26, 42 - 360 Poraj tel. +48 34 316 01 10, fax +48 34 316 01 12 cognor@cognor.eu, www.cognor,pl 19 2012-05-18