Sims Ltd. · ASX:SGM

Sims — Sims Metal Management — H1 FY2010 Earnings Presentation

16 slides from Sims's earnings presentation, Feb 18, 2010

  1. Slide 1: Financial results for the half year ended 31 December 2009

    For personal use only Financial results for the half year ended 31 December 2009 Sims Metal Management Limited ASX Code: SGM NYSE Code: SMS Supplemental Information 18 February 2010

  2. Slide 2: Disclaimer

    Disclaimer For personal use only This presentation may contain forward-looking statements, including statements about Sims Metal Management’s financial condition, results of operations, earnings outlook and prospects. Forward- looking statements are typically identified by words such as “plan,” “bel

  3. Slide 3: Financial Overview

    Financial Overview For personal use only HY 2010 HY 2009 Change (%) Sales Revenue ($m) 3,388.9 5,575.8 (39.2) EBITDA ($m) 136.0 254.1 (46.5) Depreciation ($m) 56.3 57.4 (1.9) Amortisation ($m) 17.6 24.4 (27.9) EBIT (Pre-goodwill impairment in HY09) ($m)* 62.1 172.3 (64.0) EBIT (Post-goodwill impairm

  4. Slide 4: Sales Revenue by Region

    Sales Revenue by Region For personal use only Change • Decline in HY10 sales revenue is related to 7.3% $m HY 2010 HY 2009 (%) and 34.4% declines in unit shipments and average selling prices, respectively. Australasia 597.8 683.7 (12.6) • Decline in HY10 sales revenue in North America is related to

  5. Slide 5: Sales Revenue by Product

    Sales Revenue by Product For personal use only Change • Ferrous brokerage sales associated with SAR JV $m HY 2010 HY 2009 (%) were $339.5 million and $721.3 million, in HY Ferrous Trading $ 1,601.7 $ 2,787.7 (42.5) 2010 and HY 2009, respectively. Non Ferrous Shred 162.5 182.9 (11.2) Recovery • Avera

  6. Slide 6: EBIT by Region

    EBIT by Region For personal use only Change HY10 Atypical Items: HY 2010 HY 2009 • Group Corporate Costs include circa $5 million of $m (%) redundancy charges. Australasia 25.7 34.0 (24.4) North America 51.0 227.6 (77.6) HY09 Atypical Items: • North America EBIT in HY09 includes $69 million of Europ

  7. Slide 7: EBIT by Product (pre-goodwill impairment HY09)

    EBIT by Product (pre-goodwill impairment HY09) For personal use only Change • EBIT by product is presented pre-corporate costs $m HY 2010 HY 2009 (%) (including group head office costs) and amortisation of Ferrous Trading (incl. NFSR) 44.0 231.7 (81.0) intangibles. Ferrous Brokerage 8.8 27.6 (68.1)

  8. Slide 8: Intake Volumes

    Intake Volumes For personal use only Change • Ferrous brokerage tonnes associated with Total Tonnes (‘000’s) HY 2010 HY 2009 (%) SAR JV were 1.1 million and 1.3 million tonnes for HY 2010 and HY 2009, Ferrous Shredded (inc. NFSR) 2,640 2,525 4.6 respectively. Other Processed Ferrous 2,102 1,981 6.1

  9. Slide 9: Sales Volumes

    Sales Volumes For personal use only Change • Ferrous brokerage tonnes associated with Total Tonnes (‘000’s) HY 2010 HY 2009 (%) SAR JV were 1.1 million and 1.3 million tonnes for HY 2010 and HY 2009, Ferrous Shredded (inc. NFSR) 2,622 2,677 (2.1) respectively. Other Processed Ferrous 2,089 2,173 (3.

  10. Slide 10: Group Income Statement

    Group Income Statement For personal use only $m HY 2010 HY 2009 Change ($) Change (%) Sales Revenue $ 3,388.9 $ 5,575.8 (2,186.9) (39.2) EBITDA 136.0 254.1 (118.1) (46.5) EBIT (pre-goodwill impairment in HY09) 62.1 172.3 (110.2) (64.0) Non-cash goodwill impairment - 173.0 (173.0) (100.0) EBIT $ 62.1

  11. Slide 11: Group Balance Sheet

    Group Balance Sheet For personal use only As of 31 As of 30 June $m Change ($) Change (%) December 2009 2009 Cash & Cash Equivalents 225.0 69.5 155.5 223.7 Current Assets, excluding cash 923.8 916.4 7.4 0.8 Non-current Assets 2,647.5 2,822.7 (175.2) (6.2) Total Assets 3,796.3 3,808.6 (12.3) (0.3) Cu

  12. Slide 12: Group Cash Flow

    Group Cash Flow For personal use only $m HY 2010 HY 2009 Change ($) Net cash inflow from operating activities $ 61.8 $ 541.6 $ (479.8) Net Payments for PP&E (46.4) (110.1) (63.7) Payments on acquisitions of subsidiaries, net of cash acquired (110.3) (67.8) (42.5) Return of capital from jointly contr

  13. Slide 13: North America Regional Results

    North America Regional Results For personal use only HY 2010 HY 2009 Change (%) Sales Revenue ($m) $ 2,236.6 $ 4,231.2 (47.1) EBITDA ($m)* $ 83.7 $ 263.2 (68.2) Depreciation (32.6) (35.6) (8.4) EBITA ($m)* $ 51.1 $ 227.6 (77.6) Amortisation of intangibles (16.3) (22.9) (28.8) EBIT ($m)* $ 34.7 $ 204

  14. Slide 14: Australasia Regional Results

    Australasia Regional Results For personal use only HY 2010 HY 2009 Change (%) Sales Revenue ($m) $ 597.8 $ 683.7 (12.6) EBITDA ($m)* $ 36.8 $ 43.7 (15.8) Depreciation ($m) (11.1) (9.7) 14.4 EBITA ($m)* $ 25.7 $ 34.0 (24.4) Amortisation of intangibles ($m) - (0.1) - EBIT ($m)* $ 25.7 $ 33.9 (24.2) As

  15. Slide 15: Europe Regional Results

    Europe Regional Results For personal use only HY 2010 HY 2009 Change (%) Sales Revenue ($m) $ 554.5 $ 660.9 (16.1) EBITDA ($m) $ 35.1 $ (28.7) 222.3 Depreciation ($m) (12.0) (11.3) 6.2 EBITA ($m) $ 23.1 $ (40.0) 157.8 Amortisation of intangibles ($m) (1.3) (1.5) (13.3) EBIT ($m) $ 21.8 $ (41.5) 152.

  16. Slide 16: For personal use only

    For personal use only Right. Now.

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