Acerinox Sa · BME:ACX
Acerinox Sa — 9M 2017 Earnings Presentation
12 slides from Acerinox Sa's earnings presentation, 2017
Slide 1: Acerinox 2017 Nine Months Results
ACERINOX 2017 NINE MONTHS 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 Profit after taxes and minorities is 3.5 times higher than in January-September 2016 Q1 2017 Q2 2017 Q3 2017 9M 2017 9M 2016 NET SALES 1,252 1,191 1,067 3,511 2,915 EBITDA 191 126 53 370 223 EBIT 146 81 13 240 97 RESULT BEFORE 141 76 9 226 73 TAXES RESU
Slide 4: Sector Indicators
S E C T O R I N D I C AT O R S Auto Construction Home Production Appliances +3.2% +4.2% +1.2% Eurofer´s estimate for Eurofer´s estimate for Eurofer´s estimate for 2017 (revised in October) 2017 (revised in October) 2017 (revised in October) -8.4% +4.7% +6.4% Year to September Year to August Year to
Slide 5: Raw Material Prices
R AW M AT E R I A L P R I C E S Years 2016 and 2017, up to October 30 Nickel 15,000 Vo l a t i l i t y i n A v e r a g e p r i c e : c a s h / t h r e e nickel price 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 O N D Ferrochrome Strong decline in 165 154 139 Q2 ferr
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 declined during the third quarter 3,000 NORTH EUROPE USA ASIA 2,000 1,000 2014 2015 2016 2017 S o u r c e : P L A T T S Base price declined i
Slide 7: Production
PRODUCTION Thousand Mt 668 605 615 617 634 558 601 611 562 546 575 652 637 611 516 M E LT I N G S H O P +1% over 9M 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 -4% over Q3 2016 2014 2015 2016 2017 593 542 552 491 524 536 498 481 526 563 572 547 535 542 464 HOT ROLLING +1% over 9M 2016 -5% o
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 Third quarter EBITDA is affected by the drop in prices and slowdown in activity 191 2 5 . % 0 2 .0 0 % 140 124 126 15.3% 103 103 106 1 5 . 0 % 101 101 89 12.4% 10.8% 79 10.3% 10.1% 10.5% 1 0 . % 0 9.3% 9.0% 8.7% 8.6% 8
Slide 9: Balance Sheet
BALANCE SHEET Million EUR ASSETS LIABILITIES Sep 17 2016 Variation Sep 17 2016 Variation Non-current assets 2,147.04 2,357.53 -8.9% Equity 1,917.50 2,168.68 -11.6% Current assets 2,082.63 2,097.51 -0.7% Non-current liabilities 1,201.24 1,191.17 0.8% - Inventories 918.40 887.42 3.5% - Interest-bearin
Slide 10: Cash Flow Statement
C A S H F L O W S TAT E M E N T Million EUR EBITDA Working Taxes Financial Others Operating CAPEX Free Dividends Cash Flow Capital charges Cash Flow Cash Flow after Dividends 9M 2017 (42) (67) (22) ( 11 ) 370 328 228 (141) 261 240 87 87 (124) (37) 9M 2016 (2) (29) (27) ( 11 ) 223 221 191 154 (97) 16
Slide 11: Cash Flow Statement
C A S H F L O W S TAT E M E N T Jan - Mar Apr-Jun Jul - Sep Jan - Sep Jan - Sep Million EUR 2017 2017 2017 2017 2016 Result before taxes 141 76 9 226 73 Adjustments for: 48 48 37 133 140 Depreciation and amortisation Changes in provisions and impairments 45 -1 44 8 41 -5 130 2 126 -8 Working Capital
Slide 12: Acerinox Q&A
ACERINOX Q&A 2017 NINE MONTHS RESULTS