Cascades Inc. · TSX:CAS
Cascades — Shareholder Meeting (2024)
50 slides from Cascades's shareholder meeting presentation, 2024
Slide 1: Cascades
| Cascades
Slide 2: 2024 Annual General Meeting of Shareholders
2024 Annual General Meeting of Shareholders 2
Slide 3: Disclaimer: Forward-Looking Statement
DISCLAIMER FORWARD-LOOKING STATEMENT Certain statements that may be made today, including statements regarding future results and performance, are forward-looking statements within the meaning of securities legislation based on current expectations. The accuracy of such statements is subject to a nu
Slide 4: Alain Lemaire
Alain Lemaire Executive Chairman of the Board of Directors 4
Slide 5: 5
5 5
Slide 6: Word of Welcome
6 1 Word of Welcome 6
Slide 7: Opening of the 2024 Annual General Meeting
7 2 Opening of the 2024 Annual General Meeting 7
Slide 8: Management Representatives
Management Representatives Alain Mario Allan Michael Lemaire Plourde Hogg Guerra Executive Chairman of the President and Chief Vice-President and Chief Corporate Secretary Board of Directors Executive Officer Financial Officer 8
Slide 9: Meeting Procedures
9 3 Meeting Procedures 9
Slide 10: Confirmation of the Mailing of the Notice of Meeting, Management Proxy Circular and Proxy Form
10 4 Confirmation of the Mailing of the Notice of Meeting, Management Proxy Circular and Proxy Form 10
Slide 11: Rapport of the Scrutineers
11 5 Rapport of the Scrutineers 11
Slide 12: Filing of the Audited Consolidated Financial Statements for 2023
12 6 Filing of the Audited Consolidated Financial Statements for the year ended December 31, 2023, and the Independent Auditor’s Report 12
Slide 13: Election of Directors
13 7 Election of Directors 13
Slide 14: Election of Directors
14 7 Election of Directors Alain Sylvie Sylvie Mario Lemaire Lemaire Vachon Plourde Michelle Patrick Hubert T. Cormier Lemaire Lacroix Nelson Mélanie Elif Alex N. Gentiletti Dunn Lévesque Blanco 14
Slide 15: Appointment of the Independent Auditor
15 8 Appointment of the Independent Auditor PricewaterhouseCoopers LLP Partnership of chartered professional accountants 15
Slide 16: Advisory Vote on Executive Compensation
16 9 Advisory Vote on Executive Compensation Accepting the Corporation’s Approach to Executive Compensation 16
Slide 17: Shareholder Proposals
17 10 Shareholder Proposals 17
Slide 18: Vote and Voting Results
18 11 Vote and Voting Results 18
Slide 19: 2023 Highlights
19 2023 Highlights Mario Plourde President and Chief Executive Officer 19
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20
Slide 21: 1936-2023
1936-2023
Slide 22: 22
22
Slide 23: 2023 in Review: Highlights
23 2023 2023 IN REVIEW: Highlights • Commercial production started at the Bear Island facility FIRST PAPER ROLL May 2nd, 2023 • Successfully delivered Tissue Papers profitability plan • Increased cash flow from operating activities by 53% from 2022 • Good demand for packaging and tissue products • A
Slide 24: 2023 Financial Results
24 2023 +4% Financial SALES +13% Results ($M) EBITDA (A)1 -3% +48% (1) EBITDA (A) = Adjusted earnings before interest, & taxes, depreciation and amortization. EBITDA (A) Margin = EBITDA (A) as a percentage of OPERATING sales. Please click here for supplemental information on non-IFRS Accounting Stan
Slide 25: Capital Expenditures
25 Capital ($M) MAJOR CAPITAL PROJECTS Expenditures CONTAINERBOARD (excluding right-of-use assets, • Bear Island project (Virginia, US) disposal of assets and accounts payable variation) • Equipment in the converting capacity in the USA SPECIALTY PRODUCTS $289 M • Thermoforming and extrusion equipme
Slide 26: Net Debt Reconciliation
Net Debt Reconciliation1 (in $M) -4% -$84 M Net debt ratio1 : 5.2x Net debt ratio1 : 3.4x (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 48 to 54 of our 2023 Annual Report, Management Discussion & Analysis,
Slide 27: Consolidated Financials Ratios & Debt Maturities
Consolidated Financials Ratios & Debt Maturities NET DEBT / EBITDA (A)1,2,3 LONG-TERM DEBT MATURITIES (as of December 31, 2023, in $M) 238 67 (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 48 to 54 of our 2
Slide 28: Containerboard Packaging
28 CONTAINERBOARD PACKAGING 2023 Highlights: ($M) Stronger volumes +13% Favourable FX Selling prices under pressure +1% Continued inflationary pressure on costs 1 1 (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on
Slide 29: Specialty Products
29 SPECIALTY PRODUCTS 2023 Highlights: ($M) Higher selling prices +19% Favourable FX Softer volume -2% Continued inflationary pressure on costs 1 1 (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 48 to 54 of
Slide 30: Tissue Papers
30 TISSUE PAPERS 2023 Highlights: ($M) Higher selling prices Benefits from +12% significant repositioning of operational platform +14% Favourable raw material prices, FX and sales mix 1 1 (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial
Slide 31: Financial Review
31 Financial Review Allan Hogg Vice-President and Chief Financial Officer 31
Slide 32: Q1 2024 Results
Q1 2024 Results 32
Slide 33: Q1 2024 Results
Q1 2024 Results (in millions of Canadian dollars, except per common share amounts) Q1 2024 Q4 2023 Q1 2023 Sales 1,109 1,138 1,134 Operating income (loss) 9 (24) (80) EBITDA (A)1 103 122 134 Net loss (20) (57) (75) Adjusted net earnings (net loss)1 — 5 33 Net loss per common share ($0.20) ($0.57) ($
Slide 34: Raw Material Costs - Index List Prices
Raw Material Costs - Index List Prices Recycled Fibre Prices Virgin Pulp Prices ($US /s.t.) Current Current ($US/s.t.) (April-24) (April-24) 1,610 144 1,370 110 Recovered Paper Prices ($US/s.t.) Q1 2024 Q4 2023 Q1 2023 Q1/Q1 Q1/Q4 White grades - Basket of products (Northeast average) 147 144 230 (36
Slide 35: EBITDA (A) and Operating Income (Loss) Variance Q1 2024
EBITDA (A)1 and Operating Income (Loss) Variance Q1 2024 (in $M) -23% -$31 M 1 1 (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 26 to 31 of our 2024 Quarterly Report 1, Management Discussion & Analysis, ava
Slide 36: Net Debt Reconciliation Q1-2024
Net Debt Reconciliation1 Q1-2024 (in $M) +7% +$138 M Net debt ratio1: 3.4x Net debt ratio1 : 3.8x (1) Please click here for supplemental information on Non-IFRS Accounting Standards measures and other financial measures available on pages 26 to 31 of our 2024 Quarterly Report 1, Management Discussio
Slide 37: Outlook
37 Outlook Mario Plourde President and Chief Executive Officer 37
Slide 38: 2022-2024 Strategic Plan
2022-2024 Strategic Plan Our Top Priorities Status Deliver on the Tissue Papers business profitability 1 plan Ramp up the strategic Bear Island 100% recycled 2 and lightweight containerboard facility 3 Explore opportunities to grow our sustainable packaging business in the U.S. over the long-term ON
Slide 39: 2022-2024 Strategic Plan: 2024 Objectives
2022-2024 Strategic Plan 2024 Objective May 2023 May 2024 Trend 1 Sales ~ $5 billion < $5 billion 2 EBITDA (A)1 Margin 12% - 14% ≤ 12% 3 CAPEX ~ $175 million ≤ $175 million 4 Free Cash Flow2,3 / Sales 9% - 10% ≤ 9% 5 Shareholder Return Maintain Dividend Unchanged 6 Net debt / EBITDA (A)1 2.5x - 3.0x
Slide 40: Recognitions in Sustainability
Recognitions in Sustainability 40
Slide 41: Our Approach to Sustainability
Our Approach to Sustainability 41
Slide 42: Driving Positive Change
Driving Positive Change Our results and sustainability action plan show that we are solution-driven and can enable our customers to reduce their environmental footprint through our value-added green products and services. The road travelled Where we’re going 4.7 x less water effluent than the indust
Slide 43: Innovative and Sustainable Solutions
Innovative and Sustainable Solutions 43
Slide 44: Thank you
44 Thank you Alain Lemaire Patrick Lemaire 44
Slide 45: Mario Plourde
45 Mario Plourde Mario Plourde President and Chief Executive Officer 45
Slide 46: Questions Period
46 15 Questions Period 46
Slide 47: Adjournment of the Meeting
47 16 Adjournment of the Meeting 47
Slide 48: Investors and Media Contacts
48 INVESTORS MEDIA Jennifer Aitken Hugo D'Amours Director, Investor Relations Vice-president, Communications, MÉDIAS Public Affairs and Sustainable Development 514Hugo 282-2697 D'Amours 418 573-2348 investor@cascades.com Vice-président, communications, affaires publiques et développement durable hug
Slide 49: Thank you!
2024 Annual General Meeting of Shareholders Thank you! 49
Slide 50: Cascades
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