Ccl Industries Inc. Class A · TSX:CCL.A
Ccl Industries Inc. Class A — Q3 2012 Earnings Presentation
21 slides from Ccl Industries Inc. Class A's earnings presentation, Nov 6, 2012
Slide 1: Investor Update: 3rd Quarter 2012 Review
CCL Industries Inc. Investor Update 3rd Quarter 2012 Review November 6, 2012
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information and forward-looking statements (hereinafter collectively referred to as “forward-looking statements”), as defined under applicable securities laws, that involve a number of risks and uncertainties. Forward-looking statements include a
Slide 3: Statement of Earnings: Third Quarter
Statement of Earnings Third Quarter Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Sales $ 316.6 $ 316.6 - +4% Operating income* 39.3 36.5 +8% +13% Corporate expense 6.1 4.4 +39% 33.2 32.1 Finance cost, net 5.3 5.2 +2% 27.9 26.9 Restructuring & other items -
Slide 4: Statement of Earnings: Nine Months
Statement of Earnings Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Sales $ 995.1 $ 951.2 +5% +7% Operating income* 139.8 128.3 +9% +11% Corporate expense 19.1 17.9 +7% 120.7 110.4 Finance cost, net 15.8 16.2 (2%) 104.9 94.2 Restructuring & other
Slide 5: Earnings per Class B Share
Earnings per Class B Share Periods Ended September 30th Three Months Nine Months Per Class B Share 2012 2011 Change 2012 2011 Change Net earnings - basic $ 0.64 $ 0.52 +23% $ 2.32 $ 1.99 +17% Diluted earnings $ 0.63 $ 0.52 +21% $ 2.28 $ 1.96 +16% Restructuring & other items - loss $ - $ - $ - $ (0.0
Slide 6: Cash Flow Highlights
Cash Flow Highlights Periods Ended September 30th (Millions of Cdn$) Free Cash Flow* Statement of Cash Flows Nine Months Ended September 30th 100.5 92.4 2012 2011 Net earnings $ 77.6 $ 65.7 Adjustments for: Depreciation & amortization 76.2 74.0 Net finance cost 15.8 16.2 37.9 Current income tax expe
Slide 7: Cash & Debt Summary
Cash & Debt Summary As At September 30th (Millions of Cdn$) Increase 2012 2011 (Decrease) Long-term debt - senior notes (2012 - US$ 319.0 MM, 2011 - US$ 328.4 MM) $ 313.6 $ 344.2 $ (30.6) Debt - all other 14.8 25.0 (10.2) Total debt 328.4 369.2 (40.8) Less: Cash and cash equivalents (159.5) (110.1)
Slide 8: Capital Spending Highlights
Capital Spending Highlights Nine Months Ended September 30th, 2012 (Millions of Cdn$) Capital Divisions Spending Depreciation( 1 ) Difference Label $ 63.7 $ 55.4 $ 8.3 Container 3.2 10.2 $ (7.0) Tube 1.1 5.8 $ (4.7) Corporate - 0.3 $ (0.3) $ 68.0 $ 71.7 $ (3.7) (1) excludes amort izat ion of int ang
Slide 9: Label: Third Quarter
Label Third Quarter Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Sales $ 250.7 $ 254.4 (1%) +4% Operating income* $ 32.5 $ 32.4 +0% +6% Return on sales 13.0% 12.7% EBITDA* $ 52.7 $ 51.7 +2% +7% % of Sales 21.0% 20.3% The following commentary is based on con
Slide 10: Label: North America
Label Third Quarter Ended September 30th (Millions of Cdn$) North America (36% of Label sales) • Healthcare & Specialty delivered solid gains in both sales and profitability despite start up costs for inserts in California. • Home & Personal Care (HPC) had a down quarter in the US; pricing challenge
Slide 11: Label: Europe
Label Third Quarter Ended September 30th (Millions of Cdn$) Europe (41% of Label sales) (incl. Eastern Europe) • Modest HPC sales increase; focus on cost and productivity drove a significant improvement in profitability. • Strong sales and profitability improvement at Healthcare & Specialty; good re
Slide 12: Label: Emerging Markets
Label Third Quarter Ended September 30th (Millions of Cdn$) Emerging Markets (23% of Label sales) (Asia, Latin America, Australia & South Africa) • Mexican sales and profit gains offset by lower results in Brazil with signs of customers destocking higher inventories; impact compounded by real’s decl
Slide 13: Label: Nine Months
Label Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Sales $ 791.9 $ 758.0 +4% +7% Operating income* $ 117.8 $ 111.6 +6% +9% Return on sales 14.9% 14.7% EBITDA* $ 177.3 $ 169.0 +5% +8% % of Sales 22.4% 22.3% The following commentary is based on co
Slide 14: Label Joint Ventures
Label Joint Ventures Periods Ended September 30th (Millions of Cdn$) Three Months Nine Months Results at 100% 2012 2011 2012 2011 Sales $ 16.0 $ 6.9 $ 44.0 $ 19.9 Net income (loss) $ 0.4 $ (0.3) $ 2.1 $ (0.5) EBITDA $ 2.5 $ 0.5 $ 6.5 $ 1.0 % of Sales 15.6% 7.2% 14.8% 5.0% CCL equity share* $ 0.2 $ (
Slide 15: Container: Third Quarter
Container Third Quarter Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Sales $ 45.8 $ 43.0 +7% +7% Operating income* $ 3.7 $ 1.6 +131% +127% Return on sales 8.1% 3.7% EBITDA* $ 7.1 $ 5.2 +37% +36% % of Sales 15.5% 12.1% The following commentary is based on co
Slide 16: Container: Nine Months
Container Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Sales $ 140.1 $ 133.3 +5% +6% Operating income* $ 10.4 $ 7.4 +41% +39% Return on sales 7.4% 5.6% EBITDA* $ 20.7 $ 18.0 +15% +15% % of Sales 14.8% 13.5% The following commentary is based on c
Slide 17: Tube: Third Quarter
Tube Third Quarter Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Sales $ 20.1 $ 19.2 +5% +3% Operating income* $ 3.1 $ 2.5 +24% +22% Return on sales 15.4% 13.0% EBITDA* $ 5.0 $ 4.4 +14% +14% % of Sales 24.9% 22.9% The following commentary is based on constan
Slide 18: Tube: Nine Months
Tube Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Sales $ 63.1 $ 59.9 +5% +3% Operating income* $ 11.6 $ 9.3 +25% +22% Return on sales 18.4% 15.5% EBITDA* $ 17.4 $ 14.7 +18% +16% % of Sales 27.6% 24.5% The following commentary is based on consta
Slide 19: Operating Income: Third Quarter
Operating Income* Third Quarter Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Label $ 32.5 $ 32.4 +0% +6% Container 3.7 1.6 +131% +127% Tube 3.1 2.5 +24% +22% Operating income* $ 39.3 $ 36.5 +8% +13% Sales $ 316.6 $ 316.6 - +4% Return on sales 12% 12% EBITDA
Slide 20: Operating Income: Nine Months
Operating Income* Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2012 2011 Change Translation Label $ 117.8 $ 111.6 +6% +9% Container 10.4 7.4 +41% +39% Tube 11.6 9.3 +25% +22% Operating income* $ 139.8 $ 128.3 +9% +11% Sales $ 995.1 $ 951.2 +5% +7% Return on sales 14% 13% EB
Slide 21: Summary & Outlook
Summary & Outlook • Orders remain solid rather than strong, top line comparisons will be more challenging in the fourth quarter. • FX looks set to remain a significant headwind for the fourth quarter, in line with Q3 at current levels. • North American business conditions improving somewhat but Euro