Ccl Industries Inc. Class A · TSX:CCL.A
Ccl Industries Inc. Class A — Q3 2011 Earnings Presentation
21 slides from Ccl Industries Inc. Class A's earnings presentation, Nov 3, 2011
Slide 1: Investor Update: 3rd Quarter 2011 Review
CCL Industries Inc. Investor Update 3rd Quarter 2011 Review November 3, 2011 1
Slide 2: Disclaimer
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 statement
Slide 3: Statement of Earnings - Three Months
Statement of Earnings Three Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Sales $ 316.6 $ 301.7 +5% +6% Operating income * 36.4 33.8 +8% +9% Corporate expense 4.4 4.8 (8%) 32.0 29.0 Finance expense, net 5.2 6.3 (17%) 26.8 22.7 Restructuring & other it
Slide 4: Statement of Earnings - Nine Months
Statement of Earnings Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Sales $ 951.2 $ 911.0 +4% +6% Operating income * 128.1 116.8 +10% +12% Corporate expense 17.9 14.7 +22% 110.2 102.1 Finance expense, net 16.2 19.3 (16%) 94.0 82.8 Restructuring &
Slide 5: Earnings per Class B Share
Earnings per Class B Share Periods Ended September 30th Three Months Nine Months Per Class B Share 2011 2010 Change 2011 2010 Change Net earnings - basic $ 0.52 $ 0.48 +8% $ 1.99 $ 1.76 +13% Diluted earnings $ 0.52 $ 0.47 +11% $ 1.96 $ 1.73 +13% Restructuring & other items - loss $ - $ - $ (0.01) $
Slide 6: Cash Flow Highlights
Cash Flow Highlights Periods Ended September 30th (Millions of Cdn$) Free Cash Flow* 101.6 Statement of Cash Flows 92.4 Nine Months Ended September 30th 2011 2010 Net earnings $ 65.7 $ 57.8 Depreciation & amortization 74.0 70.8 Chg. in non-cash working capital (23.3) (25.6) 37.9 Other 6.2 3.4 Cash f
Slide 7: Cash & Debt Summary
Cash & Debt Summary As At September 30th (Millions of Cdn$) Increase 2011 2010 (Decrease) Long-term debt - senior notes (2011 - US$ 328.4 MM, 2010 - US$ 397.7 MM) $ 344.2 $ 409.3 $ (65.1) Debt - all other 25.7 36.3 (10.6) Total debt 369.9 445.6 (75.7) Cash and cash equivalents (110.1) (144.2) 34.1 N
Slide 8: Capital Spending Highlights
Capital Spending Highlights Nine Months Ended September 30th, 2011 (Millions of Cdn$) Capital (1) Divisions Spending Depreciation Difference Label $ 62.9 $ 53.0 $ 9.9 Container 2.4 10.6 $ (8.2) Tube 2.6 5.4 $ (2.8) Corporate 0.2 0.2 $ - $ 68.1 $ 69.2 $ (1.1) (1) excludes amortization of intangibles
Slide 9: Label - Three Months Ended September 30th
Label Three Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Sales $ 254.4 $ 238.4 +6.7% +8% Operating income* $ 32.3 $ 32.4 (0.3%) +1% Return on sales 12.7% 13.6% EBITDA* $ 51.6 $ 50.6 +2.0% +3% % of Sales 20.3% 21.2% The following commentary is based o
Slide 10: Label - North America
Label Three Months Ended September 30th (Millions of Cdn$) North America (33% of Label sales) • Healthcare continued to sequentially improve with strong sales gains over Q310; profits up including solid Sertech contribution. • Home & Personal Care (HPC) sales were slow early in Q3 but accelerated as
Slide 11: Label - Europe
Label Three Months Ended September 30th (Millions of Cdn$) Europe (43% of Label sales) (including Eastern Europe) • Strong HPC sales growth on high customer launch and design activity, profitability continues below expectations in France. • Healthcare & Specialty sales and profitability declined on
Slide 12: Label - Emerging Markets
Label Three Months Ended September 30th (Millions of Cdn$) Emerging Markets (24% of Label Sales) (Asia, Latin America, Australia & South Africa) • Strong double digit sales growth in Latin America, with improved profitability despite devaluation of the Mexican peso. • Strong double digit sales growt
Slide 13: Label - Joint Ventures
Label Three Months Ended September 30th (Millions of Cdn$) Joint Ventures (share of earnings consolidated using equity accounting principles) • Sales in Russian JV flat with nominal profitability. • Pacman-CCL transaction closed late in Q3, nominal impact. • Saudi Arabian plant on schedule for openi
Slide 14: Label - Nine Months Ended September 30th
Label Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Sales $ 758.0 $ 729.4 +3.9% +5% Operating income* $ 111.4 $ 114.4 (2.6%) (1%) Return on sales 14.7% 15.7% EBITDA* $ 168.8 $ 168.8 - +1% % of Sales 22.3% 23.1% The following commentary is based o
Slide 15: Container - Three Months Ended September 30th
Container Three Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Sales $ 43.0 $ 44.0 (2.3%) +1% Operating income* $ 1.6 $ (0.8) n.m. n.m. Return on sales 3.7% (1.8%) EBITDA* $ 5.2 $ 2.6 100.0% +114% % of Sales 12.1% 5.9% The following commentary is based
Slide 16: Container - Nine Months Ended September 30th
Container Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Sales $ 133.3 $ 124.0 +7.5% +10% Operating income* $ 7.4 $ (4.7) n.m. n.m. Return on sales 5.6% (3.8%) EBITDA* $ 18.0 $ 5.8 210.3% +229% % of Sales 13.5% 4.7% The following commentary is bas
Slide 17: Tube - Three Months Ended September 30th
Tube Three Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Sales $ 19.2 $ 19.3 (0.5%) +5% Operating income* $ 2.5 $ 2.2 +13.6% +20% Return on sales 13.0% 11.4% EBITDA* $ 4.4 $ 4.1 +7.3% +12% % of Sales 22.9% 21.2% The following commentary is based on co
Slide 18: Tube - Nine Months Ended September 30th
Tube Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Sales $ 59.9 $ 57.6 +4.0% +10% Operating income* $ 9.3 $ 7.1 +31.0% +37% Return on sales 15.5% 12.3% EBITDA* $ 14.7 $ 12.8 +14.8% +21% % of Sales 24.5% 22.2% The following commentary is based on
Slide 19: Operating Income - Three Months
Operating Income* Three Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Label $ 32.3 $ 32.4 (0%) +1% Container 1.6 (0.8) n.m. n.m. Tube 2.5 2.2 +14% +20% Operating income* 36.4 33.8 +8% +9% Corporate expense 4.4 4.8 (8%) 32.0 29.0 Finance expense, net 5
Slide 20: Operating Income - Nine Months
Operating Income* Nine Months Ended September 30th (Millions of Cdn$) Excluding Currency 2011 2010 Change Translation Label $ 111.4 $ 114.4 (3%) (1%) Container 7.4 (4.7) n.m. n.m. Tube 9.3 7.1 +31% +37% Operating income* 128.1 116.8 +10% +12% Corporate expense 17.9 14.7 +22% 110.2 102.1 Finance expe
Slide 21: Summary & Outlook
Summary & Outlook • Many consumer goods customers reported flat to down organic growth rates for Q3 in developed economies, and signs of moderating growth in Emerging Markets. • Current orders at CCL remain solid; consistent with levels throughout 2011 compared to prior year. • Input cost inflation