Ccl Industries Inc. Class A · TSX:CCL.A
Ccl Industries Inc. Class A — Q1 2005 Earnings Presentation
15 slides from Ccl Industries Inc. Class A's earnings presentation, May 6, 2005
Slide 1: Investor Update First Quarter 2005 Review
Investor Update First Quarter 2005 Review Friday, May 6, 2005 Disclaimer Any forward-looking statements contained in this presentation involve risks, uncertainties and assumptions and should not be taken as guarantees of future performance. Actual results could vary materially from those anticipated
Slide 2: Statement of Earnings
Statement of Earnings First Quarters Ended March 31st (Millions of Cdn $, except per share data) Net of currency translation & 2005 2004 Change divestitures 1) Sales $ 429.5 $ 390.1 +10.1% +16% EBITDA 52.9 43.3 +22.2% Net of currency translation, transactions Depreciation and amortization 18.9 16.9
Slide 3: E.P.S. Bridge
E.P.S. Bridge First Quarters Ended March 31st (Millions of Cdn $, except per share data) 1st Quarter Full Year 2005 2004 vs. vs. 2004 2003 1Q 04 $0.46 2003 $1.80 Operations +0.26 +0.26 Interest rate swaps (0.02) +0.02 Corporate costs (0.03) +0.02 Foreign currency translation (0.03) (0.05) Foreign cu
Slide 4: Impact of Changes in Exchange Rates
Impact of Changes in Exchange Rates Currency Translation: 2004 – U.S. dollar averaged $1.30 vs. $1.40 in 2003 for the year (down 7%), partly offset by Euro strength ($1.62 average for the year) 2005 – U.S. dollar averaged $1.23 vs. $1.32 (down 7%) and Euro was $1.61 (down 2%) in 1Q vs. last year Cur
Slide 5: Balance Sheet
Balance Sheet As At March 31st (Millions of Cdn $, except Book Value per Share) 2005 2004 Change Net working capital (receivables, inventory, prepaids, payables and accruals) $ 104.2 $ 92.6 +12.5% Capital assets (net) $ 540.7 $ 454.1 +19.1% Intangible assets & goodwill $ 399.2 $ 357.8 +11.6% Total a
Slide 6: Debt Summary
Debt Summary As At March 31st (Millions of Cdn $) Increase 2005 2004 (Decrease) Bank advances $ 73.2 $ 5.0 $ 68.2 Long-term debt - senior notes (2005 - $304.9 MM U.S., 2004 - $314.3 MM U.S.) 368.8 412.1 (43.3) Long-term debt - all other 50.2 10.5 39.7 Total debt 492.2 427.6 64.6 Cash and cash equiva
Slide 7: Cash Flow Highlights
Cash Flow Highlights First Quarters Ended March 31st (Millions of Cdn $) Inflows: 2005 2004 Net earnings $ 19.7 $ 14.8 Depreciation and amortization 18.9 16.9 Stock-based compensation 0.1 0.1 Future income taxes 3.3 1.8 Gross Cash Inflow 42.0 33.6 Outflows: 1) Net increase in non-cash operating work
Slide 8: Capital Spending Highlights
Capital Spending Highlights First Quarter Ended March 31st, 2005 (Millions of Cdn $) Capital Divisions Spending Depreciation Difference Major Investment Projects Custom Manufacturing $ 3.2 $ 5.1 $ (1.9) Container 7.3 4.2 3.1 Penetang, ON (2 new Aerosol lines) $ 2.8 Hermitage, PA (1 new Aerosol line)
Slide 9: Income From Operations
Income From Operations First Quarters Ended March 31st (Millions of Cdn $) Excl. currency translation, transactions & 2005 2004 Change divestitures Custom Manufacturing (includes ColepCCL) $ 11.8 $ 8.5 +38.8% +45.9% Container 6.2 4.0 +55.0% +76.6% Label 19.1 16.2 +17.9% +28.9% 37.1 28.7 +29.3% +41.6
Slide 10: Custom Manufacturing - North America
Custom Manufacturing - North America First Quarters Ended March 31st Excl. currency translation & (in millions of Cdn dollars) 2005 2004 % transactions 1) Sales $ 163.8 $ 149.4 9.6% +15.7% Operating Income $ 6.3 $ 5.9 6.8% +18.6% Return on Sales 3.8% 3.9% Return on Service Revenue 13.7% 13.3% EBITDA
Slide 11: Custom Manufacturing – North America Unit Volume
Custom Manufacturing – North America Unit Volume - Millions First Quarters Ended March 31st FIRST QUARTERS FULL YEAR 2005 2004 2004 2003 ACT ACT Change ACT ACT Change Aerosol / sticks - North America 100.4 96.2 4.4% 382.1 421.8 (9.4% ) Liquid - North America 107.4 84.1 27.7% 365.7 312.1 17.2% Total
Slide 12: ColepCCL & Custom Europe
ColepCCL & Custom Europe First Quarters Ended March 31st Custom ColepCCL Europe (in millions of Cdn dollars) 2005 2004 % 1) Sales $ 51.3 $ 53.9 (4.8%) Operating Income $ 5.5 $ 2.6 111.5% Return on Sales 10.7% 4.8% EBITDA $ 7.6 $ 4.0 90.0% % of Sales 14.8% 7.4% 1) ColepCCL sales at 40% were down 5% f
Slide 13: Container
Container First Quarters Ended March 31st Excl. currency translation & (in millions of Cdn dollars) 2005 2004 % transactions 1) Sales $ 57.1 $ 50.2 13.7% +21.3% Operating Income $ 6.2 $ 4.0 55.0% +76.6% Return on Sales 10.9% 8.0% EBITDA $ 10.4 $ 8.3 25.3% % of Sales 18.2% 16.5% 1) Excluding foreign
Slide 14: Container Unit Volume Comparison
Container Actual Unit Volume Comparison Q1 2005 Year 2004 Year 2003 vs. vs. vs. Q1 2004 Year 2003 Year 2002 Aerosol Cans & Beverage Bottles +27.4% +22.3% 14.8% Plastic Tubes (1.2%) (5.6%) (2.7%) 14
Slide 15: Label
Label First Quarters Ended March 31st Excl. currency translation & (in millions of Cdn dollars) 2005 2004 % divestitures 1) Sales $ 157.3 $ 136.6 +15.2% +23.7% Operating Income $ 19.1 $ 16.2 +17.9% +28.9% Return on Sales 12.1% 11.9% EBITDA $ 28.1 $ 23.6 +19.1% % of Sales 17.9% 17.3% 1) Excluding for