Ccl Industries Inc. Class A · TSX:CCL.A
Ccl Industries Inc. Class A — Q1 2015 Earnings Presentation
15 slides from Ccl Industries Inc. Class A's earnings presentation, May 7, 2015
Slide 1: Investor Update 1st Quarter 2015
Investor Update 1st Quarter 2015 May 7, 2015
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking information and forward-looking statements, as defined under applicable securities laws, (hereinafter collectively referred to as “forward-looking statements”) that involve a number of risks and uncertainties. Forward-looking statements include a
Slide 3: Statement of Earnings
Statement of Earnings First Quarter Ended March 31st Excluding Currency (millions of CDN $) 2015 2014 Change Translation Sales $ 705.9 $ 609.7 +16% +12% Operating income(1) 117.1 88.6 +32% +28% Corporate expense 13.4 6.3 103.7 82.3 Finance cost, net 6.3 6.7 97.4 75.6 Restructuring and other items 0.
Slide 4: Earnings per Class B Share
Earnings per Class B Share Periods Ended March 31st Three Months Per Class B Share 2015 2014 Change Net earnings - basic $ 1.97 $ 1.54 +28% Net loss from restructuring and other items 0.02 0.02 Adjusted basic earnings(1) $ 1.99 $ 1.56 +28% Adjusted basic earnings variance (after tax) due to: Operati
Slide 5: Cash Flow
Cash Flow Periods Ended March 31st (millions of CDN $) Free Cash Flow* $282.7 $194.7 -$8.8 -$27.4 Q1 2015 Q1 2014 LTM March LTM March 2015 2014 *Free Cash Flow From Operations (non-IFRS measure) = Cash from Operating Activities less Capital Expenditures, net of Proceeds from Sale of PPE Page 5
Slide 6: Cash & Debt Summary
Cash & Debt Summary March December (millions of CDN $) 2015 2014 Senior Notes LTD (US$239.0MM) $ 302.7 $ 277.3 Non-revolving LTD (US$228.0MM and EUR61.6MM) 372.7 362.6 Revolving LTD (US$37.0MM) 46.9 - Debt - all other 19.2 19.2 Total debt 741.5 659.1 Less: Cash and cash equivalents (206.0) (221.9) N
Slide 7: Capital Spending
Capital Spending Year Ended March 31st Capital Divisions Spending Depreciation(1) Difference Label $ 48.1 $ 30.2 $ 17.9 Avery 6.4 2.8 3.6 Container 2.2 3.7 (1.5) Corporate - 0.1 (0.1) $ 56.7 $ 36.8 $ 19.9 (1) excludes amortization of intangibles and other assets • Label capacity expansions at Food &
Slide 8: Label
Label First Quarter Ended March 31st Excluding Currency (millions of CDN $) 2015 2014 Change Translation Sales $ 486.1 $ 423.8 +15% +11% Operating income(1) $ 81.8 $ 69.5 +18% +14% Return on Sales 16.8% 16.4% EBITDA(1) $ 114.0 $ 97.9 +16% +12% - 45.2 % of Sales 23.5% 23.1% (1) non-IFRS measure; see
Slide 9: Label Emerging Markets
Label Emerging First Quarter Ended March 31st Markets 17% North America North America Europe (incl. Eastern Europe) 48% Europe 35% • Healthcare & Specialty • Healthcare & Specialty flat: tough Ag-Chem and results soft, changes to Promo markets offset business mix Label Sales by Geography Healthcare
Slide 10: Label Joint Ventures
Label Joint Ventures Periods Ended March 31st Results at 100% Three Months (millions of CDN $) 2015 2014 Sales $ 23.3 $ 18.7 Net income $ 1.4 $ 0.1 EBITDA $ 3.7 $ 2.4 % of Sales 15.9% 12.8% CCL equity share (1) $ 0.7 $ 0.1 (1) share of earnings consolidated using equity accounting principles. • Anot
Slide 11: Avery
Avery First Quarter Ended March 31st Excluding Currency (millions of CDN $) 2015 2014 Change Translation Sales $ 160.2 $ 132.9 +21% +15% Operating income(1) $ 26.6 $ 13.1 +103% +102% Return on Sales 16.6% 9.9% EBITDA(1) $ 29.9 $ 16.5 +81% +79% - 45.2 % of Sales 18.7% 12.4% (1) non-IFRS measure; see
Slide 12: Container
Container First Quarter Ended March 31st Excluding Currency (millions of CDN $) 2015 2014 Change Translation Sales $ 59.6 $ 53.0 +12% +7% Operating income(1) $ 8.7 $ 6.0 +45% +37% Return on Sales 14.6% 11.3% EBITDA(1) $ 12.4 $ 9.5 +31% +25% - 45.2 % of Sales 20.8% 17.9% Rheinfelden JV (@ 50%): CCL e
Slide 13: First Quarter Operating Income Summary
First Quarter Operating Income Summary Periods Ended March 31st Excluding Currency (millions of CDN $) 2015 2014 Change Translation Label $ 81.8 $ 69.5 +18% +14% Avery 26.6 13.1 +103% +102% Container 8.7 6.0 +45% +37% Operating Income(1) $ 117.1 $ 88.6 +32% +28% - 45.2 Sales $ 705.9 $ 609.7 +16% +12
Slide 14: Outlook
Outlook • No change in orders and business trends from 2H14 • Currency likely to remain a small positive in Q2 at today’s rates • Avery seasonal patterns changing on business mix: Q3 will no longer be a bumper “make or break” quarter. • Raw materials cost falling, pass through to customers will larg
Slide 15: Questions
Questions