ENCE Energia y Celulosa SA · BME:ENC

ENCE Energia y Celulosa SA — Q1 2011 Earnings Presentation

13 slides from ENCE Energia y Celulosa SA's earnings presentation, May 4, 2011

  1. Slide 1: Ence 1Q11 results

    Ence 1Q11 results Madrid - May 4th, 2011 1

  2. Slide 2: 1Q11 results: highlights

    1Q11 results: highlights Strong 1Q11 EBITDA 1 Optimization of production and cost containment + Record production for the quarter 2 Maximum pulp and electricity production thanks to capacity increases and stabilization of mills + 3 Attractive market pulp Strength in prices and positive outlook + 4 C

  3. Slide 3: 1Q11 results: summary of main financial indicators

    1Q11 results: summary of main financial indicators 1Q11 4Q10 Change 1Q10 Change €Mn €Mn y/y €Mn y/y Net Sales (M€) 218.4 223.0 (2%) 170.2 28% Pulp Sales (M€) 159.2 158.5 0% 122.2 30% Energy Sales (M€) 43.0 38.9 11% 33.6 28% Forestry and Other Sales (M€) 16.3 25.6 (36%) 14.3 14% EBITDA (adjusted) 47.

  4. Slide 4: 1Q11 results: pulp sales evolution

    1Q11 results: pulp sales evolution Average 2010 1Q11 Increase Production (t) 289,117 309,707 7.1% Pulp sales (M€) 340,000 Evolution of pulp sales and production 320,000 300,000 +30% 280,000 260,000 158.5 159.2 240,000 122.2 220,000 200,000 180,000 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q

  5. Slide 5: Price evolution: a stable environment

    Price evolution: a stable environment ... 1000 25 150 Evolution of pulp prices per ton Comparison of long and short fiber in days of inventory and price 900 20 120 800 15 90 700 10 60 600 5 30 500 0 0 400 (5) (30) 300 (10) (60) Sep-00 Sep-01 Sep-02 Sep-03 Sep-04 Sep-05 Sep-06 Sep-07 Sep-08 Sep-09 Se

  6. Slide 6: Supported by the evolution of demand and inventories

    ... supported by the evolution of demand and inventories 4,000 40% 55 Global and chinese demand ('000t/month) Inventories in days 3,500 (3 months average) 35% 50 3,000 30% 45 2,500 25% 40 2,000 20% 35 1,500 15% 30 1,000 10% 25 500 5% 20 Producers Consumers 0 0% 15 Jan-00 Jan-01 Jan-02 Jan-03 Jan-04

  7. Slide 7: 1Q11 results: renewable energy sales evolution

    1Q11 results: renewable energy sales evolution Average 2010 1Q11 Increase Production (MWh) 338,648 372,026 9.9% Electricity sales (M€) 430,000 Evolution of electricity sales and production +28% 380,000 330,000 43.0 38.9 280,000 33.6 230,000 180,000 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3

  8. Slide 8: 1Q11 results: cash cost evolution

    1Q11 results: cash cost evolution 390 Evolution of cash cost (€/t) 4.8 7.7 0.8 380 0.5 27.2 (2.2) (1.2) (6.0) 370 360 380 350 340 349 330 Cash Cost Wood cost Energy cost MWh sold per Price per MWh Chemical and Production fix Commercial Corporate Cash Cost 1Q10 ton packaging cost and logistics costs

  9. Slide 9: 1Q11 results: EBITDA evolution

    1Q11 results: EBITDA evolution EBITDA (€Mn) Adjusted EBITDA (€Mn) +47% +17% 1T11 EBITDA stands 17% over 1Q10 and 37% over 4T10 47.5 43.3 1T11 adjusted EBITDA stands 47% above 39.3 33.7 1Q10 and 10% over 4T10 32.4 28.6 The rise is mainly due to increases in production and pulp prices, partially offse

  10. Slide 10: 1Q11 results: net debt and cash flow evolution

    1Q11 results: net debt and cash flow evolution 250 Net financial debt evolution (€Mn) 200 35 150 (168) 100 105 183 155 50 0 Net financial Change in Other Investments Net financial debt 1Q10 working operating debt 1Q11 capital cash flows Net financial debt was reduced again in the quarter despite eff

  11. Slide 11: 1Q11 results: conclusions

    1Q11 results: conclusions Strong 1Q11 EBITDA 1 Optimization of production and cost containment + Record production for the quarter 2 Maximum pulp and electricity production thanks to capacity increases and stabilization of mills + 3 Attractive market pulp Strength in prices and positive outlook + 4

  12. Slide 12: Disclaimer

    Disclaimer This presentation contains statements that constitute forward looking statements in its general meaning and within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this document and include statements regarding the inten

  13. Slide 13: Gracias

    Ence Innovating by nature Gracias 13

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