Sonae Indústria S.G.P.S — Sonae Indústria — H1 2014 Earnings Presentation
14 slides from Sonae Indústria S.G.P.S's earnings presentation, Jul 31, 2014
Slide 1: 1H14 results
SONAE INDÚSTRIA 1H14 results Investors and Analysts Conference Call Together, creating the future 31 July 2014
Slide 2: Results Highlights
1st HALF RESULTS 2014| SONAE INDÚSTRIA HIGHLIGHTS RESULTS HIGHLIGHTS I. Improved performance and increased profitability in all regions compared to 1Q14 II. Turnover naturally affected by the reduced industrial footprint III. Recurrent EBITDA up by 16% against the same period last year, with the rec
Slide 3: Operational Review | Turnover
1st HALF RESULTS 2014| SONAE INDÚSTRIA OPERATIONAL REVIEW | TURNOVER 350 316 700 626 300 14.0% 1H14 turnover reduced Consolidated 300 290 600 589 14.0% 12.0% 12.0% 9% y.o.y. mainly due to Turnover (million euros)250 9.0% 10.0% 500 10.0% 7.1% reduced industrial & 200 Turnover 8.0% 400 6.9% 7.1% 8.0%
Slide 4: Sales Volumes & Average Selling Prices
1st HALF RESULTS 2014| SONAE INDÚSTRIA OPERATIONAL REVIEW | SALES VOLUMES & AVERAGE SELLING PRICES 1,401 • 2Q14 Sales volumes Sales volumes 1,344 negatively impacted by 1,198 1,220 1,219 1,242 1,197 Sales volumes (boards only, 1,142 1,165 1,139 the sale of the two ‘000 m3) 1,193 1,221 1,121 1,151 1,
Slide 5: Variable Costs
1st HALF RESULTS 2014| SONAE INDÚSTRIA OPERATIONAL REVIEW | VARIABLE COSTS 1.10 • Average unitary costs reduced Average unitary 1.05 when compared to high levels of variable costs 1.00 1Q14, mostly driven by seasonality (Base 100: 1Q12 0.95 impacts in wood and combustibles. raw boards only, euros/m3
Slide 6: Capacity Utilization
1st HALF RESULTS 2014| SONAE INDÚSTRIA OPERATIONAL REVIEW | CAPACITY UTILIZATION Average Capacity Utilization Index 81% Average capacity utilization index (%) 77% 77% 77% 72% 8.0 69% 70% 8.0 7.0 6.6 7.0 6.6 6.6 7.0 6.2 6.2 6.0 1.8 5.8 Installed production capacity (million m3) 6.0 1.6 1.7 1.8 1.4 1.
Slide 7: Recurrent EBITDA
1st HALF RESULTS 2014| SONAE INDÚSTRIA OPERATIONAL REVIEW | RECURRENT EBITDA LTM Recurrent EBITDA per region (million euros) 45 40 Northern Europe Consolidated LTM Recurrent EBITDA (million euros) 35 Rest of the World 30 25 300 20 274 15 Improvement of 16% in recurrent EBITDA of 10 Southern Europe 2
Slide 8: Financial Review | P&L Account
1st HALF RESULTS 2014| SONAE INDÚSTRIA FINANCIAL REVIEW | P&L ACCOUNT P&L ACCOUNT 1H14 / 2Q14 / 2Q14 / Million euros 1H13 (a) 1H14 1H13 (a) 2Q13 (a) 1Q14 2Q14 2Q13 (a) 1Q14 Consolidated turnover 626 589 (6%) 316 300 290 (9%) (3%) Other operational income 13 24 86% 7 7 17 - - 2Q14 non Recurrent items
Slide 9: Financial Review | CAPEX and Working Capital
1st HALF RESULTS 2014| SONAE INDÚSTRIA FINANCIAL REVIEW | CAPEX and WK 35 40 35 • 2Q14 additions to Fixed Tangible Assets were CAPEX 6 25 30 4Q of 17 million euros. The major part of this 22 25 (million euros) 13 5 203Q amount is associated with the investments in 17 152Q 6 6 the increase of capacit
Slide 10: Financial Review | Net Debt
1st HALF RESULTS 2014| SONAE INDÚSTRIA FINANCIAL REVIEW | NET DEBT Net Debt ND/Rec. EBITDA (Million euros) 950 25.0 x Net debt 900 Net debt to LTM Rec. EBITDA 20.0 x • Net debt decreased by 5 850 million Euros to 696 million Euros, compared to 1Q14 but 15.0 x 800 was 16 million Euros above the value
Slide 11: Financial Review | Refinancing: Scheduled Loan Repayments
1st HALF RESULTS 2014| SONAE INDÚSTRIA FINANCIAL REVIEW | REFINANCING Million euros SCHEDULED LOAN REPAYMENTS (as of 30 June 2014)* • The chart below still does not incorporate updated information considering the agreements reached with the two main creditor banks. 135 83 69 40 33 25 17 8 1 2H14 1H1
Slide 12: Questions?
1st HALF RESULTS 2014| SONAE INDÚSTRIA QUESTIONS? Thank you 12
Slide 13: Glossary
1st HALF RESULTS 2014| SONAE INDÚSTRIA Glossary Capacity Utilization Index Finished-Available Production (m3) / Installed production capacity (m3); raw boards only CAPEX Investment in Tangible Fixed Assets Earnings Before Interests and Taxes + Depreciations and Amortizations + (Provisions and impair
Slide 14: Safe Harbour / Investor contacts
1st HALF RESULTS 2014| SONAE INDÚSTRIA SAFE HARBOUR This document may contain forward-looking information and statements, based on management’s current expectations or beliefs. Forward-looking statements are statements that are not historical facts. These forward-looking statement are subject to a n