Sims Ltd. · ASX:SGM
Sims — Sims Metal Management — H1 FY2011 Earnings Presentation
16 slides from Sims's earnings presentation, Feb 18, 2011
Slide 1: Financial results for the half year ended 31 December 2010
For personal use only Financial results for the half year ended 31 December 2010 Sims Metal Management Limited ASX Code: SGM NYSE Code: SMS Supplemental Information 18 February 2011
Slide 2: Disclaimer
Disclaimer For personal use only This presentation may contain forward-looking statements, including statements about Sims Metal Management’s financial condition, results of operations, earnings outlook and prospects. Forward- looking statements are typically identified by words such as “plan,” “bel
Slide 3: Financial Overview
Financial Overview For personal use only HY 2011 HY 2010 Change (%) Sales Revenue ($m) 3,950.9 3,388.9 16.6 EBITDA ($m) 148.9 136.0 9.5 Depreciation ($m) 51.7 56.3 (8.2) Amortisation ($m) 14.8 17.6 (15.9) EBIT ($m) 82.3 62.1 32.5 NPAT ($m) 49.3 39.9 23.6 EPS (cents) - diluted 24.0 21.2 13.2 Net cash
Slide 4: Sales Revenue by Region
Sales Revenue by Region For personal use only HY 2011 HY 2010 17.6% 17.2% 16.4% 17.6% Australasia North America Europe 65.2% 66.0% Change • 16.6% increase in sales revenue primarily relates to $m HY 2011 HY 2010 (%) higher metal prices as unit shipments were circa 6.6 million tonnes in each period a
Slide 5: Sales Revenue by Product
Sales Revenue by Product For personal use only HY 2011 HY 2010 9.9% Ferrous Trading 9.1% 2.5% 2.8% 0.6% Non Ferrous Shred 1.8% Recovery 48.4% Ferrous Brokerage 47.2% 19.6% Non Ferrous Trading 17.8% Non Ferrous Brokerage Manufacturing/JVs 14.5% 16.5% 4.5% Recycling Solutions 4.8% Change • Ferrous bro
Slide 6: EBIT by Region
EBIT by Region For personal use only $60 51.0 $50 25.7 35.7 37.9 ($’s in millions) $40 25.2 23.1 $30 $20 $10 HY 2011 (14.8) $0 HY 2010 -$10 (1.7) -$20 (20.1) (17.6) -$30 Australiasia North America Europe Corporate Amortisation of intangibles Change Atypical Items: HY 2011 HY 2010 • Group Corporate c
Slide 7: EBIT by Product
EBIT by Product For personal use only 53.7 $60 51.4 $50 44.0 42.6 ($’s in millions) $40 31.4 HY2011 23.1 $30 HY2010 10.8 $20 8.8 10.2 3.0 5.8 $10 1.0 $0 Change (%) $m HY 2011 HY 2010 Ferrous Trading (incl. NFSR) 53.7 44.0 22.0 Ferrous Brokerage 10.8 8.8 22.7 Non Ferrous Trading 23.1 42.6 (45.8) Non
Slide 8: Intake Volumes
Intake Volumes For personal use only HY 2011 HY 2010 Ferrous Shredded 4.2% 0.3% 4.5% 0.3% (incl. NFSR) Other Processed Ferrous 20.9% Ferrous Brokerage 40.5% 23.2% 40.1% Non Ferrous Trading/Brokerage Other 34.1% 31.9% Change • Ferrous brokerage tonnes associated with Total Tonnes (‘000’s) HY 2011 HY
Slide 9: Sales Volumes
Sales Volumes For personal use only HY 2011 HY 2010 Ferrous Shredded 4.3% 0.3% 3.9% 0.3% (inc. NFSR) Other Processed Ferrous 21.5% Ferrous Brokerage 40.7% 24.1% 39.9% Non Ferrous Trading/Brokerage Other 33.2% 31.8% Change • Ferrous brokerage tonnes associated with Total Tonnes (‘000’s) HY 2011 HY 20
Slide 10: Group Income Statement
Group Income Statement For personal use only $m HY 2011 HY 2010 Change ($) Change (%) Sales Revenue $ 3,950.9 $ 3,388.9 562.0 16.6 EBITDA 148.9 136.0 12.9 9.5 EBIT 82.3 62.1 20.2 32.5 Net Interest Expense (10.2) (6.6) (3.6) 54.5 Tax Expense (22.8) (15.6) (7.2) 46.2 Net Profit After Tax $ 49.3 $ 39.9
Slide 11: Group Balance Sheet
Group Balance Sheet For personal use only As of 31 As of 30 June $m Change ($) Change (%) December 2010 2010 Cash & Cash Equivalents 106.0 132.3 (26.3) (19.9) Current Assets, excluding cash 1,275.3 1,361.8 (86.5) (6.4) Non-current Assets 2,411.2 2,745.6 (334.4) (12.2) Total Assets 3,792.5 4,239.7 (4
Slide 12: Group Cash Flow
Group Cash Flow For personal use only $m HY 2011 HY 2010 Change ($) Net cash inflow from operating activities $ 74.0 $ 61.8 $ 12.2 Net Payments for PP&E (77.3) (46.4) (30.9) Payments on acquisitions of subsidiaries, net of cash acquired (42.9) (110.3) 67.4 Other 20.8 0.4 20.4 Net cash outflow from i
Slide 13: North America Regional Results
North America Regional Results For personal use only HY 2011 HY 2010 Change (%) Sales Revenue ($m) $ 2,575.4 $ 2,236.6 15.1 EBITDA ($m)* $ 65.2 $ 83.7 (22.1) Depreciation (29.5) (32.7) (9.8) EBITA ($m)* $ 35.7 $ 51.0 (30.0) Amortisation of intangibles (13.6) (16.3) (16.6) EBIT ($m)* $ 22.1 $ 34.7 (3
Slide 14: Australasia Regional Results
Australasia Regional Results For personal use only HY 2011 HY 2010 Change (%) Sales Revenue ($m) $ 679.4 $ 597.8 13.7 EBITDA ($m)* $ 35.7 $ 36.8 (3.0) Depreciation ($m) (10.5) (11.1) (5.4) EBITA ($m)* $ 25.2 $ 25.7 (1.9) Amortisation of intangibles ($m) (0.1) - - EBIT ($m)* $ 25.1 $ 25.7 (2.3) Asset
Slide 15: Europe Regional Results
Europe Regional Results For personal use only HY 2011 HY 2010 Change (%) Sales Revenue ($m) $ 696.1 $ 554.5 25.5 EBITDA ($m)* $ 49.3 $ 35.1 40.5 Depreciation ($m) (11.4) (12.0) (5.0) EBITA ($m)* $ 37.9 $ 23.1 64.1 Amortisation of intangibles ($m) (1.0) (1.3) (23.1) EBIT ($m)* $ 36.9 $ 21.8 69.3 Asse
Slide 16: For personal use only
For personal use only Right. Now.
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