Ccl Industries Inc. Class A · TSX:CCL.A
Ccl Industries Inc. Class A — Q4 2002 Earnings Presentation
17 slides from Ccl Industries Inc. Class A's earnings presentation, Feb 21, 2003
Slide 1: Investor Update: Fourth Quarter 2002 Review
CCL INDUSTRIES INC. Investor Update Fourth Quarter 2002 Review Friday, February 21, 2003 Disclaimer Any forward- looking statements contained in this presentation involve risks, uncertainties and assumptions and should not be taken as guarantees of future performance. Actual results could vary mater
Slide 2: Statement of Earnings: Three Months Ended December 31st
CCL INDUSTRIES INC. Statement of Earnings Three Months Ended December 31st (Millions of Cdn $, except per share data) 2002 2001 Change Sales $ 406.1 $ 373.3 +8.8% EBITDA 43.5 36.3 +19.8% Depreciation, and amortization of other assets 18.7 18.1 Interest expense (net) 7.1 7.9 Earnings before unusual i
Slide 3: Statement of Earnings: Twelve Months Ended December 31st
CCL INDUSTRIES INC. Statement of Earnings Twelve Months Ended December 31st (Millions of Cdn $, except per share data) 2002 2001 Change Sales $ 1,684.9 $ 1,600.5 +5.3% EBITDA 184.1 159.9 +15.1% Depreciation, and amortization of other assets 75.8 73.4 Interest expense (net) 30.9 32.4 Earnings before
Slide 4: 2002 - Earnings Per Share
CCL INDUSTRIES INC. 2002 - Earnings Per Share Total Q4 Year 2002 Before Unusual Items $ 0.39 $ 1.70 Foreign exchange gain on repatriation of capital (Q1 & Q4) 0.05 0.10 Miza investment write-down (Q3 & Q4) (0.11) (1.00) Series 400 provision for sale (Q4) (0.05) (0.05) CPG Income Fund expenses (Q2) -
Slide 5: Balance Sheet As At December 31st
CCL INDUSTRIES INC. Balance Sheet As At December 31st (Millions of Cdn $, except Book Value per Share) 2002 2001 Change Net working capital (receivables, inventory, prepaids, payables and accruals) $ 97.8 $ 140.4 (30.3%) Capital assets (net) 507.9 504.7 +0.6% Goodwill 275.1 401.0 (31.4%) Total asset
Slide 6: Debt Summary
CCL INDUSTRIES INC. Debt Summary As At December 31st (Millions of Cdn $) Decrease 2002 2001 (Increase) Bank advances $ 0.4 $ 13.1 $ 12.7 Long-term debt - senior notes (2002 - $323.6 MM U.S., 2001 - $333.0 MM U.S.) 510.5 530.4 19.9 Long-term debt - all other 11.5 5.1 (6.4) Total debt 522.4 548.6 26.2
Slide 7: Cash Flow Highlights
CCL INDUSTRIES INC. Cash Flow Highlights Twelve Months Ended December 31st (Millions of Cdn $) Inflows: 2002 2001 Net earnings $ 21.8 $ 24.9 Net decrease in non-cash operating working capital 32.9 16.7 Depreciation, & amortization of other assets 75.8 73.4 Amortization of goodwill - 15.8 Future inco
Slide 8: Income From Operations
CCL INDUSTRIES INC. Income From Operations Twelve Months Ended December 31st (Millions of Cdn $) 2002 2001 Change Custom Manufacturing $ 54.5 $ 47.6 +14.5% Container 29.7 18.0 +65.0% Label 32.6 26.3 +24.0% 116.8 91.9 +27.1% Corporate expense 8.5 5.4 +57.4% Interest expense (net) 30.9 32.4 (4.6%) Ear
Slide 9: Custom Manufacturing
Custom Manufacturing Fourth Quarters Ended December 31st (in million Cdn dollars) 2002 2001 % Sales $ 220.2 $ 208.3 +5.7% Operating Income (excl. goodwill amortization) $ 12.0 $ 11.3 +6.2% Return on Sales 5.4% 5.4% Return on Service Revenue 17.1% 16.5% EBITDA $ 17.1 $ 16.5 +3.6% EBITDA (excluding K-
Slide 10: Custom Manufacturing
Custom Manufacturing Twelve Months Ended December 31st (in million Cdn dollars) 2002 2001 % Sales $ 919.4 $ 886.3 +3.7% Operating Income (excl. goodwill amortization) $ 54.5 $ 47.6 +14.5% Return on Sales 5.9% 5.4% Return on Service Revenue 18.9% 16.4% EBITDA $ 74.7 $ 69.1 +8.1% EBITDA (excluding K-G
Slide 11: Custom Manufacturing Unit Volume
Custom Manufacturing Unit Volume - Millions Fourth Quarters Ended December 31st 4TH QUARTER YTD 2002 2001 2002 2001 ACT ACT Change ACT ACT Change Aerosol / sticks 112.6 107.6 4.6% 447.6 452.1 (1.0%) Liquid 84.0 65.2 28.8% 331.2 270.0 22.7% UK Custom 43.5 48.1 (9.6%) 201.7 208.2 (3.1%) Germany 12.6 1
Slide 12: Container
Container Fourth Quarters Ended December 31st (in millions of Cdn dollars) 2002 2001 % Sales $ 86.3 $ 77.3 +11.6% Operating Income (excl. goodwill amortization) $ 7.2 $ 2.2 +227.3% Return on Sales 8.3% 2.8% EBITDA $ 14.8 $ 9.2 +60.9% % of Sales 17.1% 11.9% l Excluding foreign currency translation, s
Slide 13: Container
Container Twelve Months Ended December 31st (in millions of Cdn dollars) 2002 2001 % Sales $ 351.2 $ 328.2 +7.0% Operating Income (excl. goodwill amortization) $ 29.7 $ 18.0 +65.0% Return on Sales 8.5% 5.5% EBITDA $ 59.9 $ 46.7 +28.3% % of Sales 17.1% 14.2% l Record sales l Income turnaround continu
Slide 14: Container Actual Unit Volume Comparison
Container Actual Unit Volume Comparison Q4 2002 Year 2002 Year 2001 vs. vs. vs. Q4 2001 Year 2001 Year 2000 Aerosol 13.4% 2.6% (3.8%) Laminate Tube 25.0% 7.5% (15.2%) Plastic Tube 23.6% 18.8% (8.0%) Aluminum Tube (15.4%) (16.8%) (6.0%) 14
Slide 15: Label
Label Fourth Quarters Ended December 31st (in millions of Cdn dollars) 2002 2001 % Sales $ 99.6 $ 87.7 +13.6% Operating Income (excl. goodwill amortization) $ 8.3 $ 5.4 +53.7% Return on Sales 8.3% 6.2% EBITDA $ 14.0 $ 11.1 +26.1% % of Sales 14.1% 12.7% l Excluding Jarvis-Porter acquisition and forei
Slide 16: Label
Label Twelve Months Ended December 31st (in millions of Cdn dollars) 2002 2001 % Sales $ 414.3 $ 386.0 +7.3% Operating Income (excl. goodwill amortization) $ 32.6 $ 26.3 +24.0% Return on Sales 7.9% 6.8% EBITDA $ 57.0 $ 48.7 +17.0% % of Sales 13.8% 12.6% l Sales reflect elimination of lower margin vo
Slide 17: 2002 Analysts' Reports
2002 Analysts’ Reports Earnings Per Share before Unusual Items 2002 2003 Price Date of Reports Range Range Target 3rd Qtr 02 $1.71 - $1.73 $1.86 - $2.00 $24.00 - $25.00 2nd Qtr 02 $1.60 - $1.70 $1.86 - $2.00 $24.00 - $25.00 1st Qtr 02 $1.39 - $1.50 $1.52 - $1.92 $23.00 - $24.00 2002 Actual $ 1.70 20