Sims Ltd. · ASX:SGM
Sims — Sims Metal Management — FY2010 Earnings Presentation
19 slides from Sims's earnings presentation, Aug 27, 2010
Slide 1: Financial results for the full year ended 30 June 2010
For personal use only Financial results for the full year ended 30 June 2010 Sims Metal Management Limited ASX Code: SGM NYSE Code: SMS Supplemental Information 27 August 2010
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 2010 FY 2009 Change (%) Sales Revenue ($m) 7,452.6 8,636.2 (13.7) EBITDA ($m)* 352.9 259.0 36.3 Depreciation ($m) 109.1 120.7 (9.6) Amortisation ($m) 34.8 50.1 (30.5) EBIT ($m)* 208.1 88.2 135.9 NPAT ($m)* 126.7 40.8 210.5 EPS (cents)* 64.5 22.5 186.7 Net
Slide 4: Sales Revenue by Region
Sales Revenue by Region For personal use only FY 2010 FY 2009 16.0% 16.4% 12.9% 13.4% Australia North America Europe 67.6% 73.7% Change $m FY 2010 FY 2009 (%) Australasia 1,221.3 1,158.6 5.4 North America 5,040.0 6,368.5 (20.9) Europe 1,191.3 1,109.1 7.4 Total $ 7,452.6 $ 8,636.2 (13.7) 3
Slide 5: Sales Revenue by Product
Sales Revenue by Product For personal use only FY 2010 FY 2009 2.6% 2.6% 8.8% 6.7% 1.0% Ferrous Trading 1.5% Non Ferrous Shred Recovery 12.3% 19.5% Ferrous Brokerage 46.2% 48.7% Non Ferrous Trading Non Ferrous Brokerage Manufacturing/Other 25.0% 17.2% Recycling Solutions 4.7% 3.2% Change • Ferrous b
Slide 6: EBIT by Region
EBIT by Region For personal use only $200 153.8 ($'s in millions) $150 113.3 81.2 $100 69.0 46.9 $50 (20.6) (34.8) FY2010 $0 FY2009 -$50 (30.1) (32.3) (50.1) -$100 Australiasia North America Europe Corporate Amortisation of intangibles Change FY 2010 FY 2009 $m (%) Australasia 81.2 46.9 73.1 North A
Slide 7: EBIT by Product
EBIT by Product For personal use only $300 258.3 $250 ($’s in millions) $200 133.2 $150 95.5 71.4 89.4 40.1 $100 29.3 21.4 $50 FY2010 3.2 $0 ($50) FY2009 (62.5) (8.3) (7.3) ($100) Change • EBIT by product is presented pre-corporate costs $m FY 2010 FY 2009 (%) (including group head office costs) and
Slide 8: EBIT Change by Region
EBIT Change by Region For personal use only 250 200 (40) 15 12 99 150 $ million 208 100 34 50 88 0 FY09 EBIT* Australasia Europe (inc. UK) North America Corporate Intangibles FY10 EBIT Costs Australasia $ 34m Europe (incl. UK) $ 99m North America ($ 40m) Group Corporate Costs $ 12m Amortisation of i
Slide 9: EBIT Change by Product
EBIT Change by Product For personal use only 250 200 (42) 15 24 97 150 $ million 100 208 50 88 170 (144) 0 (50) FY09 EBIT* Ferrous Non Ferrous Recycling Manufacturing/ Corporate Intangibles FY10 EBIT (incl. NFSR) Solutions JVs/Other Costs Ferrous Trading & Brokerage (incl. NFSR) ($ 144m) Non Ferrous
Slide 10: Intake Volumes
Intake Volumes For personal use only FY 2010 FY 2009 4.6% 0.3% Ferrous Shredded (incl. 3.5% 0.4% NFSR) 24.6% Other Processed Ferrous 29.6% 33.6% 40.1% Ferrous Brokerage Non Ferrous Trading/Brokerage Other 30.4% 32.9% Change • Ferrous brokerage tonnes associated with Total Tonnes (‘000’s) FY 2010 FY
Slide 11: Sales Volumes
Sales Volumes For personal use only FY 2010 FY 2009 0.3% 1.0% 4.4% Ferrous Shredded (inc. 3.5% NFSR) 25.3% Other Processed Ferrous 29.1% 32.8% 40.0% Ferrous Brokerage Non Ferrous Trading/Brokerage Other 30.0% 33.6% Change • Ferrous brokerage tonnes associated with Total Tonnes (‘000’s) FY 2010 FY 20
Slide 12: Sales by Destination
Sales by Destination For personal use only FY 2010 FY 2009 16% 21% 33% 37% 14% 11% 3% 1% 3% 18% 16% 2% 1% 1% 10% 13% 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 $m FY 2010 FY 2009 Change ($) Change (%) Sales Revenue $ 7,452.6 $ 8,636.2 $ (1,183.6) (13.7) EBITDA* 352.9 259.0 93.9 36.3 EBIT (pre-goodwill impairment) 208.1 88.2 119.9 135.9 Non-cash goodwill impairment - 191.1 (191.1) (100%) EBIT 208.1 $ (102.9) $ 31
Slide 14: Group Balance Sheet
Group Balance Sheet For personal use only $m FY 2010 FY 2009 Change ($) Change (%) Current Assets 1,494.1 985.9 508.2 51.6 Non-current Assets 2,745.6 2,822.7 (77.1) (2.7) Total Assets 4,239.7 3,808.6 431.1 11.3 Current Liabilities 674.1 577.0 97.1 16.8 Non-current Borrowings 116.6 174.3 (57.7) (33.1
Slide 15: Group Cash Flow
Group Cash Flow For personal use only $m FY 2010 FY 2009 Change ($) Profit / (Loss) for the year 126.7 (150.3) 277.0 Adjustments for non-cash items Depreciation and amortisation 143.9 170.8 (26.9) Impairment of goodwill - 191.1 (191.1) Share-based payment 16.9 9.3 7.6 Equity accounted profits net of
Slide 16: North America Regional Results
North America Regional Results For personal use only FY 2010 FY 2009 Change (%) Sales Revenue ($m) $ 5,040.0 $ 6,368.5 (20.9) EBITDA ($m)* $ 178.6 $ 228.1 (21.7) Depreciation (64.4) (74.3) 13.3 EBITA ($m)* $ 114.2 $ 153.8 (25.8) Amortisation of intangibles (32.3) (47.1) 31.4 EBIT ($m)* $ 81.9 $ 106.
Slide 17: Australasia Regional Results
Australasia Regional Results For personal use only FY 2010 FY 2009 Change (%) Sales Revenue ($m) $ 1,221.3 $ 1,158.6 5.4 EBITDA ($m)* $ 102.2 $ 67.5 51.4 Depreciation ($m) (21.0) (20.6) (1.9) EBITA ($m)* $ 81.2 $ 46.9 73.1 Amortisation of intangibles ($m) (0.1) (0.1) - EBIT ($m)* $ 81.1 $ 46.8 73.3
Slide 18: Europe Regional Results
Europe Regional Results For personal use only FY 2010 FY 2009 Change (%) Sales Revenue ($m) $ 1,191.3 $ 1,109.1 7.4 EBITDA ($m) $ 91.9 $ (6.3) 1,558.7 Depreciation ($m) (22.9) (23.8) 3.8 EBITA ($m) $ 69.0 $ (30.1) 329.2 Amortisation of intangibles ($m) (2.4) (2.9) 17.2 EBIT ($m) $ 66.6 $ (33.0) 301.
Slide 19: For personal use only
For personal use only Right. Now.