Capral Limited · ASX:CAA
Capral — H1 2013 Earnings Presentation
10 slides from Capral's earnings presentation, Aug 19, 2013
Slide 1: 2013 Half Year Results Presentation
2013 Half Year Results Presentation 19 August 2013 CAPRAL LIMITED This presentation includes forward-looking estimates that are subject to risks, uncertainties 1 19 August 2013 CAPRAL HALF YEAR RESULTS and assumptions outside of Capral’s control and should be viewed accordingly.
Slide 2: Overview of Results
OVERVIEW OF RESULTS SIX MONTHS TO JUNE 2013 Small trading loss in first half, results • EBITDA1 loss of $0.7m, compared to $0.3m profit H1 2012 • Volumes down 6% on H1 2012 impacted by lower volumes • Restructuring/Abnormal costs of $2.9m • LME adjustment of negative $1.1m Net Profit impacted by imp
Slide 3: Financial Summary
FINANCIAL SUMMARY SIX MONTHS TO JUNE 2013 H1 H1 2013 2012 Sales Volumes - External (‘000 tonnes) 20.6 22.0 $m $m Sales Revenue 141.2 149.2 EBITDA (0.7) 0.3 (before LME adjustment, restructuring/abnormals and impairment) Restructuring/Abnormals (2.9) (0.7) LME revaluation adjustment (1.1) (0.2) Impai
Slide 4: First half EBITDA break even point reduced by 33% since 2008
THE FIRST HALF EBITDA1 BREAK EVEN POINT OF THE BUSINESS HAS REDUCED BY 33% SINCE 2008 Tonnes per day 300 Underlying costs have reduced significantly. • Further employee head count reduction of 49 since 267 June 2012 258 • Manufacturing efficiency improved 250 • Metal recovery improvement 33% • Wareh
Slide 5: Balance Sheet Remains Strong
BALANCE SHEET REMAINS STRONG $m $m 6 months to Jun 13 Jun 12 EBITDA (46.2) (0.6) Working Capital (5.1) 3.8 Finance Cost (0.4) (0.3) Operating Cash Flow Equity Compensation Amortisation 0.6 0.4 Impairment 41.5 - Other (0.2) 0.2 Operating Cash Flow (9.8) 3.5 Capex Spend (1.4) (2.2) Increase/ (Decrease
Slide 6: Leverage to Recovery in Residential Construction
LEVERAGE TO RECOVERY IN RESIDENTIAL CONSTRUCTION MONTHLY DWELLING APPROVALS AND QUARTERLY DWELLING COMMENCEMENTS MONTHLY UNITS 16,000 COMMENCEMENTS DOWNGRADED FOR 2013 BUT FORECAST 15,000 TO RECOVER BY 14% BY 2015 ANNUAL DWELLING COMMENCEMENTS 14,000 ‘000 200 APPROVALS 13,000 175 168 166 168 Underly
Slide 7: Aluminium Extrusion Demand Expected to Recover Marginally from Cyclical Low Levels
ALUMINIUM EXTRUSION DEMAND IS EXPECTED TO RECOVER MARGINALLY FROM CYCLICAL LOW LEVELS ‘000 Tonnes ALUMINIUM EXTRUSION MARKET PA • Market has fallen ~30% from its high in 2007 to 200 200 the low in 2012 and is poised for a recovery 183.3 175 30% 170.7 165.2 148.1 146.7 150 141.7 Forecast (Based on BI
Slide 8: Capral at the Forefront of Campaign to Reform Australian Anti Dumping Regime
CAPRAL HAS BEEN AT THE FOREFRONT OF A CAMPAIGN TO REFORM AUSTRALIAN ANTI DUMPING REGIME Dumping & Countervailing Duties (Avg) The impact of the imposed • Capral won a case in 2010 but the levels 40% anti dumping measures to of duties imposed are low relative to 30% Canada and USA date has been modes
Slide 9: Build Optimise Grow
OUR COMPREHENSIVE STRATEGIC PLAN CONTINUES TO BE IMPLEMENTED • Leading market share position • Long term customer relationships • Experienced and committed workforce BUILD • Commitment to continuous improvement and On our strengths customer service • National manufacturing footprint • National distr
Slide 10: Outlook
OUTLOOK • usiness conditions in Australia are reported as being the lowest in four years with deterioration reported B in finance, property, construction, transport and utilities1 • Manufacturing in Australia generally continues to encounter challenging conditions with subdued demand and rising inpu