Ence Energia Y Celulosa Sa · BME:ENC

Ence Energia Y Celulosa Sa — 1H12 Earnings Presentation

11 slides from Ence Energia Y Celulosa Sa's earnings presentation, Jul 24, 2012

  1. Slide 1: Ence, Energía y Celulosa 2Q12 Results

    Ence, Energía y Celulosa 2Q12 Results July 24th, 2012 1

  2. Slide 2: 1H12 Results

    1H12 Results 2 … the strong production and sales growth of pulp and electricity … In line Solid with operating 2012 1 targets results 3 … the decreasing trend in cash cost to in 1H12 reach €340/t … based on… 4 … and the maintenance of financial strength in terms of debt and liquidity … with good out

  3. Slide 3: Strong 1H12 results based on …

    1 Strong 1H12 results based on … Breakdown of 1H12 P&L (M€) 15 97 280 377 393 280 36 24 16 314 14 78 78 64 64 29 36 12 16 8 Pulp Energy Forestry Total Sales Cost EBITDA (adj) Non EBITDA Depreciation EBIT Interest Taxes Net profit recurrent and provisions  3% growth in pulp sales has partially offse

  4. Slide 4: … the excellent operational performance of pulp production …

    2 … the excellent operational performance of pulp production … Pulp production (t) +4% Production per plant (tons) +6% +1% -5% +1% 615,019 234,408 220,213 197,604 200,326 598,248 172,018 163,515 589,835 1H11 1H12 1H12 normalized  The company keeps confident that 1H11 1H12 1H11 1H12 1H11 1H12 curren

  5. Slide 5: … and electricity generation

    2 … and electricity generation Energy metrics Electricity sales (€M) +9% +10% 126 760.618 +13% 97 722.082 114 85 1H11 1H12 1H11 1H12 126 124 127 126 116 109 113 108 101 102 1H11 1H12  Increased production of electricity linked to the production of cellulose (+1% for the year)  Improvement in the a

  6. Slide 6: Strong cash cost reduction through increases in pulp production and electricity

    3 Strong cash cost reduction through increases in pulp production and electricity as well as reducing wood and fixed costs... 380 20.1 Evolution of cash cost (€/t) 375 370 365 12.1 360 3.9 355 376 350 345 1.4 1.3 340 0.6 0.5 21.5 335 340 330 Cash Cost 1H11 Wood cost Chemical & Energy sales Energy co

  7. Slide 7: … consolidating the financial strength of the company

    4 … consolidating the financial strengh of the company Breakdown of operating cash flow (€M) Net financial debt (€M) and leverage 167 1,3x 4 0,8x 18 11 64 64 151 51 11 40 29 EBITDA 1H12 Change in Pulp Interest Other Adjusted working investment expenses operating capital cash flow Net debt 1H11 Net d

  8. Slide 8: Strong outlook in 2012, with market prices showing an upward trend

    5 Strong outlook in 2012, with market prices showing an upward trend since December 70 Evolution of pulp prices ($/t) Inventories in days 60 868 847 50 816 772 780 40 703 684 30 20 Consumers BSKP BHKP 10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 Current May-01 May-02 May-03 May-04 May-05 May-06 May-07 May-08 Ma

  9. Slide 9: Conclusion

    Conclusion Solid Tangible mid term operating Good outlook for 2012 cash flow results results opportunities in 1H12 Strong sales growth of pulp Production growth (+2%/+5%) From “forestry owner” to and electricity (3% & 5% in volume) in 2012 “forestry manager” allowing divestments for a total of 300M€

  10. Slide 10: Disclaimer

    Disclaimer This presentation contains statements that constitute forward looking statements in its general meaning and within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this document and include statements regarding the inten

  11. Slide 11: Ence, Energía y Celulosa 2Q12 Results

    Ence, Energía y Celulosa 2Q12 Results July 24th, 2012 11

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