Amg Critical Materials N.v. · EURONEXT:AMG
Amg Critical Materials — AMG Advanced Metallurgical Group — Investor Presentation (May 2012)
25 slides from Amg Critical Materials's investor presentation, May 2012
Slide 1: Investor Presentation May 2012
Investor Presentation May 2012
Slide 2: Cautionary Note
Cautionary Note THIS DOCUMENT IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION BY AMG ADVANCED METALLURGICAL GROUP N.V. (THE “COMPANY”) AND MAY NOT BE REPRODUCED IN ANY FORM OR FURTHER DISTRIBUTED TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE
Slide 3: Overview
Overview Listed: NYSE-Euronext Amsterdam: AMG Founded: 2006 2011 Revenues: $1,351.3M 2011 EBITDA: $110.1M Employees: 3,154 Facilities: Netherlands, Germany, UK, USA, Brazil, France, China, Belgium, Turkey, Poland, India, Sri Lanka, Czech Republic Market cap: €193M ($252M) Shares outstanding: 27.5M 5
Slide 4: Business Units, Products, and End Markets
Business Units, Products, and End Markets Advanced Materials Engineering Systems Graphit Kropfmühl AMG Mining 67% of Q1 2012 revenue 21% of Q1 2012 revenue 12% of Q1 2012 revenue Creating new reporting 62% of Q1 2012 EBITDA 14% of Q1 2012 EBITDA 24% of Q1 2012 EBITDA segment in 2012
Slide 5: Why Invest in AMG
Why Invest in AMG Revenue EBITDA 2009 – 2011 2009 – 2011 Advancing 24.8% productivity 26.2% CAGR and CAGR technology 2011: 2011: $ 1,351.3 million $ 110.1 million + 36% over 2010 + 30% over 2010 Increase Shareholder Value Horizontal Vertical ROCE Consolidati EPS Integration on 2009 – 2011 Strong gro
Slide 6: Critical Raw Materials Matrix
Critical Raw Materials Matrix ■ USA, Germany, UK and EU have each identified critical materials – common factors include supply risks, economic importance and technology demand ■ AMG mines or processes 13 of those critical materials 6
Slide 7: Advanced Materials
Advanced Materials End Input & Critical Material Key Everyday Sample Markets Raw Materials Science Products Applications Customers Conversion Specialty alloys Property for titanium Modification Coatings for wear resistance A Boeing 787 Aerospace Surface Dreamliner contains Recycling Coating
Slide 8: Engineering Systems
Engineering Systems End Input & Critical Material Key Everyday Sample Markets Raw Materials Science Products Applications Customers Technology Vacuum Melting Property and Re-melting Modification Systems Precision Casting All modern turbine Aerospace Surface and Coating engines use titanium Coa
Slide 9: Graphit Kropfmühl
Graphit Kropfmühl End Input & Critical Material Key Everyday Sample Markets Raw Materials Science Products Applications Customers Mining Natural graphite Property for heat insulation Modification materials for building Improving energy Infrastructure Conversion construction efficiency in build
Slide 10: Recent Developments
Recent Developments AMG Mining Focus on improving mining operational efficiencies at AMG's existing antimony and tantalum mines ■ Appointed Mr. Hoy Frakes as President of AMG Mining AMG Aluminum Began the next phase in the coordination of global production sites and global customer service activitie
Slide 11: Financial Highlights
Financial Highlights 11
Slide 12: Financial Highlights
Financial Highlights Revenue 2011 Gross Profit LTM: $1,357.3 (in USD millions) LTM: $231.6 (in USD millions) $324.0 $53.4 $368.3 $69.0 $356.4 Up $59.8 $58.7 Down $318.0 $308.6 2% $50.5 11% YoY YoY - - - - - Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 Q1 11 Q2 11 Q3 11 Q4 11 Q1 12 EBITDA Adjusted EPS LTM: $105.8 (
Slide 13: Capital Base
Capital Base Cash and Debt Cash Debt ( in USD millions) ■ Net debt: $206.4 million ■ Debt to capitalization: 0.55x ■ Net Debt to LTM EBITDA: 1.95x ■ Revolver availability: $47.9 million ■ Total liquidity: $129.1 million $287.6 $267.1 $278.5 $274.9 $268.6 ■ AMG’s primary debt facility is a $377 milli
Slide 14: Key Products
Key Products Revenue Gross Profit ( in USD millions) ( in USD millions) Q1 2012: $324.0 Q1 2012: $53.4 $300 $60 $250 $50 $200 $40 $150 $30 $100 $20 $50 $10 $- $- YTD Q1 2011 YTD Q1 2012 YTD Q1 2011 YTD Q1 2012 Vacuum Furnaces Ti Master Alloys and Coatings Vacuum Furnaces Ti Master Alloys and Coating
Slide 15: End Markets
End Markets Revenue Gross Profit ( in USD millions) ( in USD millions) Q1 2012: $324.0 Q1 2012: $53.4 Aerospace Aerospace 32.4% 33.5% Infrastructure 14.2% Energy Energy 19.6% Infrastructure 14.3% 17.8% Specialty Metals Specialty Metals & Chemicals & Chemicals 39.1% 29.1% Aerospace + 26% Infrastructu
Slide 16: Advanced Materials
Advanced Materials Financial Summary ■ Q1 2012 revenue up 3% from Q1 2011 ( in USD millions) $280.0 Revenue EBITDA $235.6 $230.0 $210.8 $226.8 $216.5 $21.0 ■ Titanium master alloys revenue up $198.7 $17.5 83% $180.0 $14.6 $13.7 $16.0 ■ Antimony revenue down 6% $12.3 $130.0 $11.0 ■ FeV revenue down 5
Slide 17: Engineering Systems
Engineering Systems Financial Summary Q1 2012 revenue up 5% from Q1 2011 ( in USD millions) $105.0 Revenue EBITDA $20.0 $89.8 $86.3 $85.0 Heat treatment revenue up 128% $72.9 $64.9 $68.0 $15.0 Remelting furnace revenue up 45% $65.0 $11.8 Solar DSS revenue down 88% $9.3 $45.0 $7.7 $10.0 Q1
Slide 18: Graphit Kropfmühl
Graphit Kropfmühl Financial Summary Q1 2012 revenue down 7% from Q1 ( in USD millions) $50.0 Revenue EBITDA $42.3 $42.9 $43.3 $45.0 $39.5 2011 $40.0 $37.0 $35.0 $11.0 Natural graphite revenue down 11% $30.0 Silicon metal revenue down 4% $25.0 $7.0 $6.3 $6.2 $6.2 $20.0 $5.2 $15.0 $6.0 Q1 2012
Slide 19: Outlook
Outlook
Slide 20: Outlook
Outlook Advanced Materials Engineering Systems Graphit Kropfmühl AMG Mining Challenging start to Heat Treatment Voluntary Tender Antimony expansion 2012 Services business completed is progressing on plan Aerospace is strong providing more stable Silicon metal prices Tantalum demand is
Slide 21: Appendix
Appendix 21
Slide 22: Consolidated Balance Sheet
Consolidated Balance Sheet Balance Sheet ($’000) Actual As of 31-Dec-11 31-Mar-12 Fixed assets 263.6 273.8 Goodwill and intangibles 38.1 38.9 Other non-current assets 63.4 65.4 Inventories 228.9 232.5 Receivables 188.1 223.0 Other current assets 39.1 47.1 Cash 79.6 81.2 TOTAL ASSETS 900.8 961.9 TOTA
Slide 23: Consolidated Income Statement
Consolidated Income Statement Income Statement ($’000) Actual For the three months ended 31-Mar-11 31-Mar-12 Revenue 318.0 324.0 Cost of sales 258.2 270.6 Gross profit 59.8 53.4 Selling, general & admin. 42.9 39.1 Asset impairment & restructuring 0.3 2.8 Environmental 0.1 0.7 Other income (0.9) (0.5
Slide 24: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Cash Flow Statement ($’000) Actual For the three months ended 31-Mar-11 31-Mar-12 EBITDA 26.2 21.9 +/- Change in operating assets/liabilities (22.1) (19.4) -Interest paid, net (1.2) (3.1) Other operating cash flow (0.3) 0.8 Cash flows from operations before taxes
Slide 25: Slide 25
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