Sonae Indústria S.G.P.S — Sonae Indústria — 9M11 Earnings Presentation
20 slides from Sonae Indústria S.G.P.S's earnings presentation, 2011
Slide 1: Highlights of Sonae Indústria 9M11 Results
HIGHLIGHTS OF SONAE INDÚSTRIA 9M11 RESULTS 1
Slide 2: Consolidated Operational Review
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW Comparing 3Q11 with 3Q10: Turnover increased by 4%, to 326 million Euros Recurrent EBITDA increased by 2% to 29 million Euros Net losses reduced by 17% to 9 million Euros Comparing 9M11 with 9M10: Turnover increased b
Slide 3: Consolidated Operational Review: Turnover and EBITDA Margin
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW Consolidated turnover in 9M11 reached 1,034 million Euros, 6 % above last year Recurrent EBITDA margin recovered 2pp from 9M10 to 9M11, reaching 81 million Euros (when compared with 57 million Euros in 9M10) € Mn Consolid
Slide 4: Consolidated Operational Review: Volumes, Prices and Costs
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW Millions of m3 Millions Consolidated Volumes Sold of m3 Consolidated Volumes Sold 2,50 Volumes sold have +1% been increasing in 2,00 +5% 4,10 all countries except 4,10 1,41 1,39 1,39 1,41 1,50 1,24 1,29 1,30 4,05 Canada 4,0
Slide 5: Variable Costs Evolution
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA VARIABLE COSTS EVOLUTION Consolidated Quarterly average costs (Eur/m3) Base 100 - 1Q10 Variable costs have been moving up, because of strong urea price 1,4 increases. Urea represents 1,3 around 50% of the chemicals 1,2 used in the production cycle. 1,1 1,
Slide 6: Capacity Utilization and Volumes Sold
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA CAPACITY UTILIZATION AND VOLUMES SOLD Capacity utilization in 9M11 is 4pp higher when compared to 9M10 and 11pp higher when compared to 9M09. Millions of m 3 12 100% 10,1 9,8 9,7 10 9,3 8,7 8,4 80% 2,2 8,0 2,8 7,5 7,5 7,5 7,5 8 3,6 7,5 7,5 3,4 2,9 60% 2,5
Slide 7: Geographic Review of Operations: Iberia
HIGHLIGHTS OF 9M11 RESULTS Geographic Review of Operations IBERIA In Iberia, during 9M11 when compared with 9M10: Turnover increased by 7% and volumes sold by 4% Average variable costs are 9% above Recurrent EBITDA Margin moved 1pp down, due to an accounting effect, otherwise it would have b
Slide 8: Geographic Review of Operations: Central Europe
HIGHLIGHTS OF 9M11 RESULTS Geographic Review of Operations CENTRAL EUROPE (Germany, France and the UK) In during 9M11 when compared with 9M10: Turnover increased by 11% and volumes sold by 1% Average variable costs are 11% above Recurrent EBITDA Margin moved 5pp up, illustrating the effectiv
Slide 9: Geographic Review of Operations: Rest of the World
HIGHLIGHTS OF 9M11 RESULTS Geographic Review of Operations REST OF THE WORLD (Canada and South Africa) In RoW region, when comparing 9M11 with 9M10: Turnover and volumes sold remained flat, despite the lower activity in Canada which was compensated by the stronger sales volumes in S.A. Recurre
Slide 10: Capex, Working Capital
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA CAPEX, WORKING CAPITAL WORKING CAPITAL decreased by 7 million Euros in 3Q11, due to the reduction of trade receivables INVESTMENTS continue to be closely monitored Additional Fixed Assets Million 30 28 4 25 WORKING CAPITAL: 2009 - 2011 22 21 20 7 € Mn 7
Slide 11: Net Debt
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA NET DEBT Compared to 1H11, NET DEBT was reduced by 4 million Euros. 3Q09: Sale of Brazil operations Million of Euros 950 Sale of Lure plant 900 22 850 126 800 917 54 895 79 13 750 3 17 1 4 11 700 769 757 757 732 732 718 718 728 724 650 1Q09 1H09 9M09 FY09
Slide 12: Net Debt / EBITDA
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA NET DEBT/ EBITDA The Net Debt to Recurrent EBITDA ratio for the last 12 months is 7.6x, which is down from 10.0x, one year ago. 950 25 Net Debt 23 900 ND/Rec.Ebitda 21 19 850 17 800 15 13 750 11 9 700 7 650 5 1Q'11 2Q'11 3Q'11 1Q'09 2Q'09 3Q'09 4Q'09 1Q'1
Slide 13: Scheduled Loan Repayments
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA SCHEDULED LOAN REPAYMENTS As already announced, we raised in July 81 million CADs at Tafisa Canada SCHEDULED LOAN REPAYMENTS* (as of 30th September 2011) 180 160 140 120Refinancing already assured 100 80 154 60 113 40 79 57 64 20 50 51 27 33 0 2H11 1H12 2
Slide 14: Profit & Loss Account
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA PROFIT & LOSS ACCOUNT (euro millions) 3Q11/ 3Q11/ (euro millions) 9M11/ 3Q10 2Q11 3Q11 3Q10 2Q11 9M10 9M11 9M10 Consolidated Turnover 313 356 326 4% (9%) 972 1.034 6% Other Operational Income 8 12 18 120% 51% 53 38 (28%) EBITDA 25 34 26 5% (23%) 43 78 80% R
Slide 15: Balance Sheet
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA BALANCE SHEET (euro millions) 2010 1Q11 1H 11 9M11 Non Current Assets 1.135 1.103 1.081 1.049 Tangible Assets 984 953 935 905 Goodwill 94 93 93 93 Deferred Tax 40 38 36 34 Other Non Current Assets 17 19 17 17 Current Assets 351 383 398 398 Inventories 129 1
Slide 16: Looking Forward
CR. ayy ... today, tomorrow, ~~ ae let's be better oa~ ees together! LOOKING FORWARD 16
Slide 17: Our Strategy: Mission, Vision, Values and Principles
SONAE INDÚSTRIA OUR STRATEGY Fit with Mission, Vision Values and Principles VISION To be recognised as a sustainable world leader in the wood-based panels industry, consistently providing our Strategic Directions customers with the best value products, upholding the highest standards of service and
Slide 18: Our Strategy: Strategic Initiatives
SONAE INDÚSTRIA OUR STRATEGY Strategic Initiatives Build a high quality team with talented, skilful and fully engaged people People development and alignment program is underway Create a high performance culture fostering Operational Excellence and Innovation A structured program was launche
Slide 19: Looking Forward
HIGHLIGHTS OF 9M11 RESULTS SONAE INDÚSTRIA LOOKING FORWARD We expect to be able to continue improving performance, when compared with same periods of the previous year, supported by operational efficiency gains and better market positioning. We will closely monitor the macroeconomic environment
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