Capral Limited · ASX:CAA
Capral — Capral Aluminium — FY2001 Earnings Presentation
16 slides from Capral's earnings presentation, 2002
Slide 1: 2001 Full Year Results
2001 Full Year Results Capral Aluminium Limited 2001 Full Year Results
Slide 2: Capral Through Three Phases
Capral Through Three Phases GROWTH EXPANDING THE BASE DOING THE BASICS • Working Capital • Press Strategy • Other Products – Reduction Implemented Manufacture & • Warehouse • Trade Centres Distribution Consolidation Expansion • Broadening the • One System/MRP • Light Fabrication Opportunity in • Die
Slide 3: Earnings Summary
Earnings Summary For Full Year Ended 31 December 2001 2001 2000 B / (W) Operating Revenue 517,226 779,457 (262,231) Other Revenue 52,948 435,008 (382,060) EBITDA 13,410 165,535 (152,125) D&A 14,072 45,379 31,307 EBIT (662) 120,156 (120,818) Interest 1,855 7,748 5,893 Profit before Tax (2,517) 112,40
Slide 4: Significant Items
Significant Items For Full Year Ended 31 December 2001 (Credits) / Debits 2001 2000 Profit on Sale of Smelter (10,429) (80,402) Profit on Sale of Property (1,827) 0 Profit on Sale of Equipment (9,317) 0 Restructuring Activities 6,519 32,826 Plant & Equipment Writedowns 14,493 16,815 Capral Aluminium
Slide 5: Continuing Business Earnings Summary
Continuing Business Earnings Summary For Full Year Ended 31 December 2001 2001 2000 B / (W) Operating Revenue 402,595 407,291 (4,696) Other Revenue 65,548 515 65,033 EBITDA 11,339 27,281 (15,942) D&A 9,172 10,818 1,646 EBIT-Operating 2,167 16,463 (14,296) Unallocated expenses (5,237) (20,168) 14,931
Slide 6: Sales Tonnes by Segment
Sales Tonnes by Segment Auto Architectural Industrial Centres New Zealand Capral Aluminium Limited 2001 Full Year Results
Slide 7: 2001 Extrusion Mill Spread Analysis Summary
2001 Extrusion Mill Spread Analysis Summary 3000 2500 A N D M ET A L PR IC E $(000'S) VO L U M E, SPR EA D 2000 MONTH METAL PRICE 2000 SPREAD 2000 Capral Aluminium Limited 2001 Full Year Results
Slide 8: Discontinued Businesses
Discontinued Businesses Trading Result Net Disposal Net Book Value / (Loss) Position of Assets Disposed Foil (901) (290) 4,688 Stainless Steel (713) (122) 5,449 Trading 179 (340) - Remelt (6,979) - - Ongoing savings 2002 (8,414) (752) 10,137 Capral Aluminium Limited 2001 Full Year Results
Slide 9: Headcount
Headcount 2001 2002 Expected Opening Balance 1 January 2001 1,391 1,163 Australia Net Movement (186) (161) Comprising: Net Additions/departures 1 Closed Businesses (142) Continuing Business Restructuring (45) New Zealand Net Movement (42) (3) Closing Balance 31 December 1,163 999 Capral Aluminium Li
Slide 10: Balance Sheet
Balance Sheet 31 Dec 30 Jun 31 Dec 2001 2001 2000 000's 000's 000's Cash 7,510 16,048 316,814 Receivables 79,473 90,281 94,717 Inventories 63,594 94,436 97,725 Fixed Assets 103,375 113,789 131,530 Other Assets 33,680 25,977 18,202 Payables (53,266) (51,666) (65,975) Provisions (14,816) (35,626) (35,
Slide 11: Fixed Assets
Fixed Assets Property, Plant & Equipment 000's 1 Jan 2001 131,530 Additions - Paintlines 4,780 - AWS 4,100 - Other CAPEX 12,549 Disposals - Foil (688) - Stainless Steel (702) - Properties (14,659) - New Zealand (6,770) - Other (2,473) Revaluations 4,052 Write-downs (14,760) Depreciation (13,584) 31
Slide 12: Working Capital Reduction
Working Capital Reduction Target $25M 31 Dec 2000 31 Dec 2001 000's 000's Receivables 94,717 79,473 Inventory 97,725 63,594 Payables (65,975) (53,266) Total 126,467 89,801 Receivables * DSO. January 1st 2001 = 65. December 31st, 2001 = 58. Equating to an underlying performance improvement of $8,518.
Slide 13: Working Capital
Working Capital Dec-00 Jun-01 Dec-01 $000 $000 $000 Sales 407,291 378,298 402,595 Working Capital Receivables 94,717 90,281 79,473 Inventories 97,725 94,436 63,594 Payables (65,975) (51,666) (53,266) Net Working Capital 126,467 133,051 89,801 Working Capital / Sales Ratio 31.1% 35.2% 22.3% Target 15
Slide 14: CAPEX Summary
CAPEX Summary Manufacturing Paintlines 5,520 Finishing & Warehousing 1,311 AWS 4,100 Remelt Upgrade 2,179 Desktop & internet services 2,049 New Zealand 1,855 “Stay in the business” 4,415 Capral Aluminium Limited 2001 Full Year Results
Slide 15: 2002 – Executing the Strategic Plan
2002 – Executing the Strategic Plan • 80% Focus is about – Doing Basics • 15% Expanding the Base • 5% What next? Capral Aluminium Limited 2001 Full Year Results
Slide 16: So What Would Success Be?
So What Would Success Be? • Finalise property program - $21M • Reduce working capital by $25M • Achieve the head count reduction – 161 in 2002 • One System in place and functional • Firm platform for New Zealand • Implement company-wide pricing and improve margin • Consolidate warehouses • Capital p