Sonae Indústria S.G.P.S — Sonae Indústria — FY2009 Earnings Presentation
17 slides from Sonae Indústria S.G.P.S's earnings presentation, 2010
Slide 1: Highlights of FY09 Results
SONAE INDÚSTRIA HIGHLIGHTS OF FY09 RESULTS 1
Slide 2: Strengthening our Balance Sheet
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW Strengthening our Balance Sheet On August 26, we sold Tafisa Brasil, SA to a company owned by Celulosa Arauco Y Constitución, SA of Chile. This decision was in line with our strategy of strengthening our balance sheet and was
Slide 3: Restructuring process underway
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW Restructuring process underway: Measures to reduce fixed costs resulted in savings of 51 million Euros in FY09, when compared to FY08 (including 5 million Euros regarding Brazil operations). We expect further cost reductions
Slide 4: Consolidated Operational Review: Sales volumes and capacity utilization
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW During 2009, 4Q09 was the strongest quarter in terms of Sales volumes Capacity utilization is increasing led by higher sales volumes and less capacity installed CONSOLIDATED VOLUME SALES WITHOUT BRAZIL Millions of m3 Capacity
Slide 5: Price and Cost Evolution
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA PRICE AND COST EVOLUTION CONSOLIDATED QUARTERLY AVERAGE COSTS * (eur/m3) BASE 100:1Q07 Chemical costs have been 1,4 flat; wood costs increased 1,2 during 4Q09, led by seasonal 1,0 price increases and 0,8 macroeconomic recovery 0,6 0,4 1Q07 2Q07 3Q07 4Q07 1Q
Slide 6: Chemicals: Urea and Methanol
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA CHEMICALS: UREA AND METHANOL CHEMICAL COSTS HAVE A SIGNIFICANT IMPACT IN OUR COST STRUCTURE (AROUND 30% VARIABLE COSTS) UREA AND METHANOL ARE THE MAIN CHEMICALS USED TO PRODUCE RESINS USED IN OUR PRODUCTION NWE ICIS Methanol Prices - Out. 2003_2010 480 Euro
Slide 7: Consolidated Operational Review: Turnover and Recurrent EBITDA
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW Consolidated operational figures, excluding Brazil: Consolidated Turnover in 4Q09, when compared to 3Q09, increased by 8% to 312 million Euros; Recurrent EBITDA increased from 3.7% to 5.1%, from 11 to 16 million Euros In 4Q09
Slide 8: Geographic Review of Operations: Iberia
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA GEOGRAPHIC REVIEW OF OPERATIONS IBERIA Iberia continue to suffer from tough TURNOVER & RECURRENT EBITDA IBERIA market conditions. Nevertheless, we Millions of Euros increased our sales volumes during 140 30,0% this 4Q09, achieving the highest 120 quarterly
Slide 9: Geographic Review of Operations: Central Europe
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA GEOGRAPHIC REVIEW OF OPERATIONS CENTRAL EUROPE (Germany, France and the UK) In Central Europe, we achieved TURNOVER & RECURRENT EBITDA CENTRAL EUROPE break-even during 4Q09. Millions of Euros 200 0,0% In Germany we were able to 192 193 195 -1,0% implement p
Slide 10: Geographic Review of Operations: Rest of the World
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA GEOGRAPHIC REVIEW OF OPERATIONS REST OF THE WORLD (Canada and South Africa) In Canada, demand is still weak but we € Mn RoWTurnover & Recurrent EBITDA Margin were able to increase turnover, driven by higher volumes sold in 4Q09 compared to 3Q09. 83 79 71 In
Slide 11: Consolidated Financial Review
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA CONSOLIDATED FINANCIAL REVIEW In 2009, additions to Fixed Assets totalled 28 million Euros, mostly related to essential investments in maintenance, Health & Safety and Environmental improvements Working Capital decreased by 101 million Euros during 2009. We
Slide 12: Scheduled Loan Repayments
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA SCHEDULED LOAN REPAYMENTS SCHEDULED LOAN REPAYMENTS * (as of 31st December 2009) 250 240 230 220 210 200 190 180 170 160 150 140 130 120 110 100 209 90 80 70 60 115 50 67 93 113 40 30 20 43 37 10 0 1H10 2H10 2011 2012 2013 2014 >2014 In 2009, we have raised
Slide 13: Profit & Loss Account
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA PROFIT & LOSS ACCOUNT (euro millions) 2008 1Q'09 1H09 9M'09 FY09 Turnover 1.769 346 671 971 1.283 Other Operational Income 114 11 25 103 162 EBITDA 139 4 13 78 104 Recurrent EBITDA 100 6 19 30 46 Recurrent EBITDA Margin % 5,7% 1,7% 2,8% 3,1% 3,6% Depreciati
Slide 14: Balance Sheet
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA BALANCE SHEET (euro millions) 2008 1Q'09 1H09 9M'09 FY09 Non Current Assets 1.386 1.384 1.413 1.250 1.233 Tangible Assets 1.203 1.198 1.224 1.098 1.083 Goodwill 104 104 107 92 92 Deferred Tax 54 55 57 36 33 Other Non Current Assets 26 26 25 24 24 Current As
Slide 15: Looking Forward
LOOKING FORWARD 15
Slide 16: Looking Forward
HIGHLIGHTS OF FY09 RESULTS SONAE INDÚSTRIA LOOKING FORWARD We expect a continuing recovery in the wood based panels industry over the coming quarters both in terms of sales volumes and sales prices; Increased activity is expected to create pressure on raw material prices; Fixed costs should continue
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