Befesa Sa · XETR:BFSA
Befesa Sa — Q1 2018 Earnings Presentation
12 slides from Befesa Sa's earnings presentation, May 24, 2018
Slide 1: First Quarter 2018 Presentation
BEFESA BEFESA First Quarter 2018 Presentation May 24, 2018
Slide 2: Disclaimer
BEFESA Disclaimer This presentation contains forward-looking statements and information relating to Befesa and its affiliates that are based on the beliefs of its management, including assumptions, opinions and views of Befesa and its affiliates as well as information cited from third party sources.
Slide 3: Today's Presenters
BEFESA Today’s Presenters CEO since 2000 CFO since 2014 Since 2008 Javier Molina Wolf Lehmann Rafael Pérez CEO CFO; including Director of responsibilities Investor Relations for Operational & Strategy Excellence and IT ▪ Leading the company since 1994 ▪ 20+ years in finance and ▪ Director of Investo
Slide 4: Key Highlights
BEFESA Key Highlights Solid start of 2018 with €44.5m EBITDA / €37.2m EBIT in Q1 ’18, both up +7% YoY… driven mainly by higher volumes and continued favorable price environment Consecutive run rate growth … LTM(1) Q1 ’18 revenue of €747m, Adj. EBITDA of €175m and Adj. EBIT of €146m Stable new capita
Slide 5: Consolidated Key Financials
BEFESA Consolidated Key Financials Continued solid growth; Earnings Q1 YoY up +7% … Befesa LTM run rate at €747m Revenue, €175m Adj. EBITDA / €146m Adj. EBIT Revenue Highlights (€m) ▪ Q1 ‘18 revenue increased +€23m / +13% YoY … 195.4 724.8 747.4 primarily due to: 172.8 - higher volumes in both core
Slide 6: Steel Dust Recycling Services
BEFESA Steel Dust Recycling Services YoY double-digit increase in revenues & earnings driven by higher EAFD throughput and continued favorable zinc price environment … Revenue EAFD Throughput & Capacity Utilization (€m) (thousand tons, % of annual installed capacity) 355.4 332.1 101.6 78.3 661.0 692
Slide 7: Aluminium Salt Slags Recycling Services
BEFESA Aluminium Salt Slags Recycling Services Alu Salt Slags approx. flat YoY … Moderate volume growth in Salt Slags partially offset in 2nd Alu Revenue(1) +€1m / +0% Volumes & Capacity Utilization (€m) +€1m / +1% (thousand tons, % of annual installed capacity) 395.7 396.8 93.5 94.5 Salt Slags & SP
Slide 8: Consolidated Net Debt / Leverage / Cash Flow / Capital Structure
Consolidated Net Debt / Leverage / BEFESA Cash Flow / Capital Structure Stable capital structure and slightly reduced leverage to 2.3x at close Q1 ’18 … Net Debt and Leverage Rate Evolution(1) Free Cash Flow(2) (€m) 526 118 (€m) 407 Cash 83% 77% 69% Conversion(3) Cash on hand stable Note: / +€1m vs.
Slide 9: Mid-Term Growth Roadmap
BEFESA Mid-Term Growth Roadmap Accelerated top- and bottom-line growth through a well-defined strategy Q1 Results within Expectations … Maintaining 2018 Guidance 1 Utilization • 2017 to 2018 growing but rather single digit … • Increase plant utilization of prior • New capacities coming online 2019 o
Slide 10: Investor Relations
BEFESA Investor Relations Financial Calendar Meet Befesa … ✓ Monday, February 19, 2018: ✓ January 8-9, 2018 - Commerzbank Publication of Preliminary Earnings Full Year 2017 New York, German Investment Seminar ✓ March 8, 2018 - Citibank London, Global Resources Conference ✓ Thursday, March 15, 2018:
Slide 11: Appendix
BEFESA Appendix
Slide 12: Hedging Strategy
BEFESA Hedging Strategy Hedging program in place covering up to and including full year 2020 … Improving visibility of earnings and cash flows for the next 3 years Market Zinc Price vs. Zinc Hedge ▪ Extended hedging period to fully cover 2020 (€/ton) ▪ Increased volume coverage … Higher volume of 7.