Acerinox Sa · BME:ACX
Acerinox Sa — H1 2017 Earnings Presentation
11 slides from Acerinox Sa's earnings presentation, 2017
Slide 1: Acerinox 2017 First Half Results
ACERINOX 2017 FIRST HALF RESULTS
Slide 2: Disclaimer
DISCLAIMER This document may contain forward-looking information and statements about ACERINOX, S.A., its subsidiaries and/or its management. These forward-looking statements include financial projections and estimates and their underlying assumptions, and statements regarding the intent, belief or
Slide 3: Main Financial Figures of Acerinox
MAIN FINANCIAL FIGURES OF ACERINOX Million EUR H1 2017 H1 2016 Variation Net Result up to NET SALES 2,443.82 1,907.02 28.1% June already EBITDA 316.85 119.73 164.6% exceed the annual results EBIT 227.01 36.43 523.1% for any year since 2008 RESULT BEFORE TAXES 216.79 19.08 1036.3% RESULT AFTER TAXES
Slide 4: Sector Indicators
S E C T O R I N D I C AT O R S Auto Construction Home Production Appliances +4.0% +3.1% +1.9% Eurofer´s estimate for Eurofer´s estimate for Eurofer´s estimate for 2017 (revised in July) 2017 (revised in July) 2017 (revised in July) -2.7% +6.1% +6.1% Year to May Year to May Year to June Source: Wards
Slide 5: Raw Material Prices
R AW M AT E R I A L P R I C E S Nickel price declines 21% from Years 2016 and 2017, up to June 30 Nickel 15,000 th e p ic k (11 ,0 7 0 U S D /Mt) to the bottom (8,748 USD/Mt) A v e r a g e p r i c e : c a s h / t h r e e m o n t h s U S D / M t 10,000 5,000 J F M A M J J A S O N D J F M A M J J A S
Slide 6: Stainless Steel Cold Rolled Coil Prices
S TA I N L E S S S T E E L C O L D R O L L E D C O I L P R I C E S AISI 304 2.0 mm USD/Mt, final price, alloy surcharge included 4,000 The price gap with Asia remains very high, but is reducing in the third quarter 3,000 NORTH EUROPE USA 2,000 ASIA 1,000 2014 2015 2016 2017 S o u r c e : P L A T T S
Slide 7: Production
PRODUCTION Thousand Mt 617 634 558 601 611 562 546 575 652 637 611 668 605 516 M E LT I N G S H O P +4% over H1 2016 -9% over Q1 2017 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2014 2015 2016 2017 593 542 552 491 524 536 498 481 526 563 572 547 535 464 HOT ROLLING +3% over H1 2016 -10% over Q1
Slide 8: Quarterly Evolution of our EBITDA
Q U A R T E R LY E V O L U T I O N O F O U R E B I T D A Million EUR % over sales Second quarter Return to EBITDA margin previous to crisis EBITDA includes an inventory 191 25 .0% adjustment of 8 million euros 20 .0% 140 124 126 15.3% 101 103 101 103 106 15 .0% 89 12.4% 10.8% 79 10.3% 10.1% 10.5% 10
Slide 9: Balance Sheet
BALANCE SHEET Million EUR Jun’17 Dec’16 Jun’16 Working Capital 873 702 632 Net Financial Debt 663 620 609 ACERINOX 9 2017, FIRST HALF RESULTS
Slide 10: Cash Flow Statement
C A S H F L O W S TAT E M E N T Million EUR Increase in working capital Ta x p a y m e n t s o f 5 2 million euros Positive Investments in NAS Cash Flow and Acerinox Europa ACERINOX 10 2017, FIRST HALF RESULTS
Slide 11: Acerinox Q&A
ACERINOX Q&A 2017 FIRST HALF RESULTS