Viscofan, S.a. · BME:VIS
Viscofan — Q1 2012 Earnings Presentation
11 slides from Viscofan's earnings presentation, Apr 26, 2012
Slide 1: January – March Results 2012
January – March Results 2012 Results January – March 2012 26th April 2012 1
Slide 2: Disclaimer
Disclaimer This document may contain additional non- non-compulsory forward- forward-looking statements on intentions or expectations of the Company as of the date of its publication whose only purpose is to provide further information on perspectives on future performance. Such forward- forward-loo
Slide 3: 1Q12 Highlights
Consolidated Results 1Q12 1Q12 Highlights +13% y-o-y growth on revenue, up to €177.9MM. +9% y-o-y growth on consolidated EBITDA up to €42.8MM. - 0.8 p.p. y-o-y on consolidated EBITDA margin to 24.1% after the strong increase on raw material and energy prices. + 6 % y-o-y growth on Net profit up to €
Slide 4: Growth in major financial magnitudes boosted from the very top line
Consolidated Results 1Q12 Growth in major financial magnitudes boosted from the very top line % Change MM € 1Q12 1Q11 % Change ex- ex-forex1 Revenue 177.9 157.2 +13.2% +11.9% EBITDA 42.8 39.1 +9.5% +5.1% EBITDA margin 24.1% 24.9% -0.8 p.p. EBIT 31.6 29.2 +8.1% PBT 29.4 29.0 +1.5% Net profit 23.3 21.
Slide 5: Sound volume growth and operating leverage to offset pressure due to raw material and energy prices
Consolidated Results 1Q12 Sound volume growth and operating leverage to offset pressure due to raw material and energy prices % y- y-o-y Pressure on gross margin (High prices on raw materials and energy) 20.5% Volume, scale and productivity Technology improvements 13.2% 13.3% 11.0% 9.5% 8.1% 6.6% Re
Slide 6: Investment plans backed by a strong balance sheet
Consolidated Results 1Q12 Investment plans backed by a strong balance sheet. Net bank debt(MM €) -0.5% Net financial result breakdown (MM €) 59.8 61.5 61.1 0.7 0.2 0.0 -0.2 -0.9 -0.7 Dec-10 Dec-11 Mar-12 -1.7 Financial leverage1: -2.2 14.7% 13.7% 12.9% Net Financial Financial Forex and 1 Financial l
Slide 7: Casing bussiness
Casing bussiness Results January – March 2012 7
Slide 8: Volume growth in all families and all regions
Volume growth in all families and all regions CASINGS Revenue (MM €) Growth contribution (p.p.) 154.0 +2.1 p.p. +1.5 p.p. 133.7 +11.5 p.p. +15.1% 1Q11 1Q12 ex-forex Cogeneration Forex2 Geographic growth1 casings Europe & Asia (€79MM) +17.7% North America (€51MM) +14.5% Latam (€24MM) +8.8% 1 Revenue
Slide 9: All-time high on quarterly EBITDA despite lower margins due to higher prices
All-time high on quaterly EBITDA despite lower margins due to higher prices CASINGS on raw materials and energy. EBITDA (MM €) 41.4 +9.7% 37.7 38.4 37.1 40.4 1Q11 2Q11 3Q11 4Q11 1Q12 EBITDA margin (MM €) 28.2% 27.4% 27.3% 26.9% 25.9% -1.3 p.p. 1Q11 2Q11 3Q11 4Q11 1Q12 Results January – March 2012 9
Slide 10: Vegetable foods: sound results and IAN Group leadership
VEGETABLE FOODS Sound results and IAN Group leadership: improving revenue and EBITDA in an environment of weak consumption in Spain and higher raw material prices. Revenue (MM €): EBITDA (MM €): Net profit (MM €): +2.0% +3.4% -18.7% 23.5 23.9 1.5 1.4 0.6 0.5 1Q11 1Q12 1Q11 1Q12 1Q11 1Q12 EBITDA marg
Slide 11: To sum up
To sum up Strong results, as a consequence of higher volumes in all casing families. A market that keeps growing in all main reporting areas, especially in emerging areas as Asia and Latam. Works continue to build the new collagen extrusion plant in China, which is expected to be started up in the f