Sims Ltd. · ASX:SGM
Sims — Sims Metal Management — FY2011 Earnings Presentation
21 slides from Sims's earnings presentation, Aug 26, 2011
Slide 1: Financial results for the full year ended 30 June 2011
For personal use only Financial results for the full year ended 30 June 2011 Sims Metal Management Limited ASX Code: SGM NYSE Code: SMS Supplemental Information 26 August 2011
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 2011 FY 2010 Change (%) Sales Revenue ($m) 8,846.8 7,452.6 18.7 EBITDA ($m)* 431.7 352.9 22.3 Depreciation ($m) 102.2 109.1 (6.3) Amortisation ($m) 28.4 34.8 (18.4) EBIT ($m) 301.1 208.1 44.7 NPAT ($m) 192.1 126.7 51.6 EPS (cents) 93.3 64.5 44.7 Net cash i
Slide 4: Sales Revenue by Region
Sales Revenue by Region For personal use only FY 2011 FY 2010 16.8% 15.5% 16.0% 16.4% Australasia North America Europe 67.7% 67.6% Change $m FY 2011 FY 2010 (%) Australasia 1,369.2 1,221.3 12.1 North America 5,993.0 5,040.0 18.9 Europe 1,484.6 1,191.3 24.6 Total $ 8,846.8 $ 7,452.6 18.7 3
Slide 5: Sales Revenue by Product
Sales Revenue by Product For personal use only FY 2011 FY 2010 2.2% 8.9% 2.7% 8.8% 0.7% Ferrous Trading 1.0% Non Ferrous Shred Recovery 18.8% Ferrous Brokerage 19.6% 48.2% 46.2% Non Ferrous Trading Non Ferrous Brokerage Manufacturing/Other 17.4% 17.2% 3.8% Recycling Solutions 4.5% Change * Ferrous b
Slide 6: EBIT by Region
EBIT by Region For personal use only $160 141.1 $140 113.3 102.3 ($'s in millions) $120 87.3 81.2 $100 69.0 $80 $60 $40 FY 2011 $20 (1.2) (28.4) $0 FY 2010 -$20 -$40 (20.6) (34.8) -$60 Australiasia North America Europe Corporate Amortisation of intangibles Change FY 2011 FY 2010 $m (%) Australasia 8
Slide 7: EBIT by Product
EBIT by Product For personal use only $200 181.7 $180 ($’s in millions) $160 $140 133.2 95.5 114.4 $120 92.9 89.4 $100 $80 31.4 $60 FY2011 23.4 29.3 $40 21.4 3.2 FY2010 $20 1.6 $0 Change * EBIT by product is presented pre-corporate costs $m FY 2011 FY 2010 (%) (including group head office costs) and
Slide 8: EBIT Change by Region
EBIT Change by Region For personal use only 300 7 19 280 $ million 260 28 301 240 33 220 6 200 208 FY10 EBIT Australasia Europe (inc. UK) North America Corporate Intangibles FY11 EBIT Costs Australasia $ 6m Europe (incl. UK) $ 33m North America $ 28m Group Corporate Costs $ 19m Amortisation of intan
Slide 9: EBIT Change by Product
EBIT Change by Product For personal use only 300 7 13 280 2 $ million 25 260 301 (4) 240 50 220 200 208 FY10 EBIT Ferrous Non Ferrous Recycling Manufacturing/ Corporate Intangibles FY11 EBIT (incl. NFSR) Solutions JVs/Other Costs Ferrous Trading & Brokerage (incl. NFSR) $ 50m Non Ferrous Trading & B
Slide 10: Intake Volume by Region
Intake Volume by Region For personal use only FY 2011 FY 2010 10.4% 12.2% 10.9% 12.9% Australasia North America Europe 77.4% 76.2% Change Total Tonnes (‘000’s) FY 2011 FY 2010 (%) Australasia 1,745 1,718 1.6 North America 11,044 10,156 8.7 Europe 1,482 1,449 2.3 Total 14,271 13,323 7.1 9
Slide 11: Intake Volume by Product
Intake Volume by Product For personal use only FY 2011 FY 2010 4.0% 0.3% Ferrous Shredded (incl. 0.3% 4.6% NFSR) 24.1% Other Processed 24.6% Ferrous 38.5% Ferrous Brokerage 40.1% Non Ferrous Trading/Brokerage Other 33.1% 30.4% Change * Ferrous brokerage tonnes associated with Total Tonnes (‘000’s) F
Slide 12: Sales Volume by Region
Sales Volume by Region For personal use only FY 2011 FY 2010 10.3% 12.5% 10.8% 12.4% Australasia North America Europe 77.2% 76.8% Change Total Tonnes (‘000’s) FY 2011 FY 2010 (%) Australasia 1,774 1,597 11.1 North America 10,964 9,906 10.7 Europe 1,466 1,394 5.2 Total 14,204 12,897 10.1 11
Slide 13: Sales Volume by Product
Sales Volume by Product For personal use only FY 2011 FY 2010 0.3% 0.3% 4.0% Ferrous Shredded (inc. 4.4% NFSR) 24.8% Other Processed 25.3% 38.1% Ferrous 40.0% Ferrous Brokerage Non Ferrous Trading/Brokerage Other 32.8% 30.0% Change * Ferrous brokerage tonnes associated with Total Tonnes (‘000’s) FY
Slide 14: Sales by Destination
Sales by Destination For personal use only FY 2011 FY 2010 16% 23% 31% 37% 14% 2% 14% 1% 3% 3% 10% 1% 18% 16% 1% 10% 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 13
Slide 15: Group Income Statement
Group Income Statement For personal use only $m FY 2011 FY 2010 Change ($) Change (%) Sales Revenue $ 8,846.8 $ 7,452.6 $ 1,394.2 18.7 EBITDA* 431.7 352.9 78.8 22.3 EBIT 301.1 208.1 93.0 44.7 Net Interest Expense (23.9) (13.6) (10.3) (75.7) Tax Expense (85.1) (67.8) (17.3) (25.5) Net Profit After Ta
Slide 16: Group Balance Sheet
Group Balance Sheet For personal use only $m FY 2011 FY 2010 Change ($) Change (%) Current Assets 1,766.5 1,494.1 272.4 18.2 Non-current Assets 2,413.3 2,745.6 (332.3) (12.1) Total Assets 4,179.8 4,239.7 (59.9) (1.4) Current Liabilities 823.3 674.1 149.2 22.1 Non-current Borrowings 291.2 116.6 174.6
Slide 17: Group Cash Flow
Group Cash Flow For personal use only $m FY 2011 FY 2010 Change ($) Profit / (Loss) for the year 192.1 126.7 65.4 Adjustments for non-cash items Depreciation and amortisation 130.6 143.9 (13.3) Share-based payment 15.7 16.9 (1.2) Equity accounted profits net of dividends received (13.7) 5.2 (18.9) O
Slide 18: North America Regional Results
North America Regional Results For personal use only FY 2011 FY 2010 Change (%) Sales Revenue ($m) $ 5,993.0 $ 5,040.0 18.9 EBITDA ($m)* $ 197.4 $ 178.6 10.5 Depreciation (56.3) (64.4) 12.6 EBITA ($m)* $ 141.1 $ 114.2 23.6 Amortisation of intangibles (26.0) (32.3) 19.5 EBIT ($m)* $ 115.1 $ 81.9 40.5
Slide 19: Australasia Regional Results
Australasia Regional Results For personal use only FY 2011 FY 2010 Change (%) Sales Revenue ($m) $ 1,369.2 $ 1,221.3 12.1 EBITDA ($m) $ 108.7 $ 102.2 6.4 Depreciation ($m) (21.4) (21.0) (1.9) EBITA ($m)* $ 87.3 $ 81.2 7.5 Amortisation of intangibles ($m) (0.3) (0.1) (200.0) EBIT ($m)* $ 87.0 $ 81.1
Slide 20: Europe Regional Results
Europe Regional Results For personal use only FY 2011 FY 2010 Change (%) Sales Revenue ($m) $ 1,484.6 $ 1,191.3 24.6 EBITDA ($m) $ 126.4 $ 91.9 37.5 Depreciation ($m) (24.1) (22.9) (5.2) EBITA ($m) $ 102.3 $ 69.0 48.3 Amortisation of intangibles ($m) (2.1) (2.4) 12.5 EBIT ($m) $ 100.2 $ 66.6 50.5 As
Slide 21: For personal use only
For personal use only Right. Now.