Cph Group Ag Class A · SIX:CPHN
Cph Group Ag Class A — CPH Chemie + Papier Holding — FY2018 Earnings Presentation
33 slides from Cph Group Ag Class A's earnings presentation, Feb 26, 2019
Slide 1: Annual Results Media Conference
CPH Chemie + Papier Holding AG Annual Results Media Conference 26 February 2019 CPH presentation, Annual Results Media Conference of 26 February 2019 1
Slide 2: Agenda
Agenda 1 Introduction Peter Schaub 2 Business developments Peter Schildknecht 3 Financial results Richard Unterhuber 4 Outlook Peter Schildknecht CPH presentation, Annual Results Media Conference of 26 February 2019 2
Slide 3: The CPH Group 2018 in brief
The CPH Group 2018 in brief A successful anniversary year Good results from all divisions Double-digit percentage net sales growth Consolidated EBIT at new record level Net result more than doubled Further international expansion with new Latin America operation Acquired businesses suc
Slide 4: Agenda
Agenda 1 Introduction Peter Schaub 2 Business developments Peter Schildknecht 3 Financial results Richard Unterhuber 4 Outlook Peter Schildknecht CPH presentation, Annual Results Media Conference of 26 February 2019 4
Slide 5: The CPH Group Key figures
The CPH Group Key figures in CHF million 2017 2018 ± in CHF ± in % Net sales 469.8 533.5 63.7 13.6 EBITDA 33.8 83.1 49.3 146.2 in % of net sales 7.2 15.6 EBIT 2.9 51.6 48.7 1679.8 in % of net sales 0.6 9.7 Net result (including minorities) 16.2 42.3 26.1 161.3 in % of net sales 3.4 7.9 Cash flow 14.
Slide 6: The CPH Group Business divisions
The CPH Group Business divisions Divisions Key figures Chemistry Paper Packaging for 2018 Net sales CHF 79.4 million CHF 301.1 million CHF 153.0 million EBITDA CHF 10.7 million CHF 50.9 million CHF 21.6 million Production sites CH / USA / CN / BiH CH CH / DE / USA / BRA / CN Employees 293 369 413 Ne
Slide 7: The CPH Group Sales markets and production sites
The CPH Group Sales markets and production sites 14% Switzerland 15% Chemistry 2018 net sales 2018 net sales 64% Rest of Europe 56% Paper by region by division 12% America 29% Packaging 9% Asia 1% Rest of the world CPH presentation, Annual Results Media Conference of 26 February 2019 7
Slide 8: The CPH Group Strategic objectives
The CPH Group Strategic objectives Less exposure to the Swiss Net sales broadly balanced Higher share of net sales from Objectives among the three divisions outside Europe franc in currency movement terms Expand Chemistry and Expand in markets in growth Expand production capacities Actions Pac
Slide 9: Highlights of 2018
The CPH Group Highlights of 2018 January February March Newly-founded APS Altpapier Service Perlen Packaging acquires a 60% Chemistry Division takes over Schweiz takes over waste paper equity stake in Sekoya, its Shanghai Yusheng‘s molecular activities of Papierfabrik Utzenstorf. distribution partne
Slide 10: Highlights of 2018
The CPH Group Highlights of 2018 May July August BLISTair inhaler earns the Zeochem moves into its new Swiss Sixteen apprentices in nine packaging world‘s biggest site in Rüti. professions begin their training at innovation prize, the Worldstar CPH‘s Swiss and German sites. Packaging Award. Septembe
Slide 11: The CPH Group Divisional success
The CPH Group Divisional success CPH Group Chemistry Paper Packaging in CHF million 2017 2018 2017 2018 ± in % 2017 2018 ± in % 2017 2018 ± in % Net sales 469.8 533.5 75.5 79.4 5.3 264.1 301.1 14.0 130.2 153.0 17.5 EBITDA 33.8 83.1 7.3 10.7 47.6 9.1 50.9 459.0 15.5 21.6 39.1 EBITDA margin in % 7.2 1
Slide 12: The Chemistry Division
The Chemistry Division CPH presentation, Annual Results Media Conference of 26 February 2019 12
Slide 13: Chemistry New Swiss site in Rüti
Chemistry New Swiss site in Rüti New Rüti premises occupied as divisional head office and deuterated products manufacturing site Installations and equipment transferred from Uetikon to Rüti in summer 2018 and capacity expanded Deuterated products are a niche market with high potential Integr
Slide 14: Chemistry Business developments
Chemistry Business developments Net sales EBITDA 90 12 24% 75 10 20% 60 8 16% 45 6 12% 30 4 8% 15 2 4% 0 0 0% 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 CHF million CHF million % of net sales Market environment Business development Favourable economic conditions increase Net sales and EBI
Slide 15: The Paper Division
The Paper Division CPH presentation, Annual Results Media Conference of 26 February 2019 15
Slide 16: Paper Switzerland's biggest waste paper recycler
Paper Switzerland’s biggest waste paper recycler Newly-founded APS Altpapier Service Schweiz acquires waste paper processing activities of Papierfabrik Utzenstorf APS focuses on paper sourcing, sorting and trading Paper Division now Switzerland’s biggest waste paper recycler, turning 470 000 t
Slide 17: Paper Business developments
Paper Business developments Net sales EBITDA 360 60 25% 300 48 20% 240 36 15% 180 24 10% 120 12 5% 60 0 0% 0 -12 -5% 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 CHF million CHF million % of net sales Market environment Business development Further decline in press and print paper Productio
Slide 18: The Packaging Division
The Packaging Division CPH presentation, Annual Results Media Conference of 26 February 2019 18
Slide 19: Packaging New plant in Brazil
Packaging New plant in Brazil Brazilian generic medicines market has double-digit growth potential Brazil accounts for 50% of the Latin American pharmaceuticals market 60% holding acquired in Sekoya Indústria e Comércio of Brazil, which is renamed Perlen Packaging Anápolis New Anápolis film
Slide 20: Packaging Business developments
Packaging Business developments Net sales EBITDA 180 24 24% 150 20 20% 120 16 16% 90 12 12% 60 8 8% 30 4 4% 0 0 0% 2014 2015 2016 2017 2018 2014 2015 2016 2017 2018 CHF million CHF million % of net sales Market environment Business development Health costs up 5%, with much of the Double-digit pe
Slide 21: Agenda
Agenda 1 Introduction Peter Schaub 2 Business developments Peter Schildknecht 3 Financial results Richard Unterhuber 4 Outlook Peter Schildknecht CPH presentation, Annual Results Media Conference of 26 February 2019 21
Slide 22: Consolidated income statement (I)
The CPH Group Consolidated income statement (I) in CHF million 2017 in % 2018 in % ± in CHF ± in % Net sales 469.8 100 533.5 100 63.7 13.6 Changes to semi-finished & finished inventories and other income -6.6 -1 13.9 3 Total income 463.2 99 547.4 103 84.2 18.2 Cost of materials 247.9 54 269.8 51 Ene
Slide 23: Consolidated income statement (II)
The CPH Group Consolidated income statement (II) in CHF million 2017 2018 ± in CHF ± in % EBIT 2.9 51.6 48.7 16.8 in % of net sales 0.6 9.7 Financial result -6.6 -6.0 Earnings before taxes and non-operating/extraordinary items -3.7 45.7 49.4 1335.1 Non-operating result 22.8 0.1 Extraordinary res
Slide 24: Consolidated balance sheet
The CPH Group Consolidated balance sheet in CHF million (as of 31 December) 2017 in % 2018 in % ± in CHF ± in % Liquid funds 80.1 11 89.0 11 8.9 Other current assets 162.2 24 264.3 33 102.1 Fixed assets 455.3 65 447.2 56 -8.1 Total assets 697.6 100 800.5 100 102.9 14.8 Current liabilities 105.
Slide 25: Consolidated cash flow statement
The CPH Group Consolidated cash flow statement in CHF million 2017 2018 ± in CHF ± in % Net result (including minorities) 16.2 42.3 26.1 161.1 Depreciation, changes in provisions, other -1.7 26.7 Cash flow 14.5 69.0 54.5 376.7 Change in net current assets 17.7 -4.6 Cash flow from operating activit
Slide 26: Net debt and leverage
The CPH Group Net debt and leverage Leverage Net financial debt for 2018 (CHF million) 8,0x 189.4 6,6x 6,0x 4,0x 125.8 2,2x 2,2x 2,0x 0,7x 56.9 120.5 – Liquid funds Current Non-current Net financial 2015 2016 2017 2018 financial financial debt liabilities liabilities Net debt / EBITDA Remarks Change
Slide 27: CPH Dividend proposed
CPH Dividend proposed Dividends distributed 2018 share price trends 2014 2015 2016 2017 2018 Dividend per share 0.65 0.60 0.65 0.65 1.80 (in CHF) Dividend yield 1.2 1.9 1.6 1.2 2.2 (in %, as of 31.12) Consistent dividend policy CHF 1.80 per share proposed for 2018 includes special CPH 200th anni
Slide 28: Appropriation of available earnings
CPH Appropriation of available earnings in CHF thousand 2017 2018 Earnings available to the General Meeting 7 084 20 173 Release from capital contribution reserve 3 900 10 800 Dividend to shareholders -3 900 -10 800 Transfer to voluntary retained earnings 0 -20 173 Balance of earnings to be carried
Slide 29: The CPH Group shows its financial strength
The CPH Group shows its financial strength 13.6% net sales growth, with substantial increases in all three divisions 13.5% EBITDA margin for Chemistry, confirming growth course 16.9% EBITDA margin for Paper, the highest in the industry Europewide 14.1% EBITDA margin for Packaging with another record
Slide 30: Agenda
Agenda 1 Introduction Peter Schaub 2 Business developments Peter Schildknecht 3 Financial results Richard Unterhuber 4 Outlook Peter Schildknecht CPH presentation, Annual Results Media Conference of 26 February 2019 30
Slide 31: Outlook Encouraging prospects for 2019
Outlook Encouraging prospects for 2019 Chemistry Paper Packaging Strengthen sales activities in Further 6-8% decline expected 6.5% global growth expected target markets in demand for newsprint and in the pharmaceuticals More capacity expansion magazine paper packaging market planned CHF 14
Slide 32: Thank you for your attention.
Questions Thank you for your attention. CPH presentation, Annual Results Media Conference of 26 February 2019 32
Slide 33: Key dates in 2019
Key dates in 2019 19 March CPH Chemie + Papier Holding AG Ordinary General Meeting in Lucerne 18 June CPH Investors’ Day in Rüti 19 July 2019 Half-Year Report (to 30 June) 18-19 September Investora in Zurich 6 November ZKB Equity Conference in Zurich CPH presentation, Annual Results Media Conference
CPH Chemie + Papier Holding — FY2018 Earnings Presentation on 6ix