Sims Ltd. · ASX:SGM
Sims — Sims Metal Management — FY2010 Earnings Presentation
17 slides from Sims's earnings presentation, Aug 27, 2010
Slide 1: Financial results for the full year ended 30 June 2010
Financial results for the full year ended 30 June 2010 Sims Metal Management Limited ASX Code: SGM NYSE Code: SMS Supplemental Information 27 August 2010
Slide 2: Disclaimer
Disclaimer This presentation may contain forward-looking statements, including statements about Sims Metal Management’s financial condition, results of operations, earnings outlook and prospects. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “antic
Slide 3: Financial Overview
Financial OverviewFY 2010 FY 2009 Change (%) Sales Revenue ($m) 7,452.68,636.2(13.7) EBITDA ($m)* 352.9259.036.3 Depreciation ($m) 109.1120.7(9.6) Amortisation ($m) 34.850.1(30.5)EBIT ($m)* 208.188.2135.9 NPAT ($m)* 126.740.8210.5 EPS (cents)* 64.522.5186.7 Net cash (outflow)/inflow from operating a
Slide 4: Sales Revenue by Region
Sales Revenue by Region FY 2010 FY 2009 16.0% 16.4% 12.9% 13.4% Australia North America Europe 67.6%73.7% Change $m FY 2010 FY 2009 (%) Australasia 1,221.31,158.65.4 North America 5,040.06,368.5 (20.9) Europe 1,191.31,109.17.4 Total $7,452.6 $8,636.2 (13.7)
Slide 5: Sales Revenue by Product
Sales Revenue by Product FY 2010 FY 2009 2.6% 2.6% 8.8% 6.7% 1.0% Ferrous Trading1.5% Non Ferrous Shred Recovery12.3% 19.5% Ferrous Brokerage 46.2% 48.7% Non Ferrous Trading Non Ferrous Brokerage Manufacturing/Other 25.0% 17.2% Recycling Solutions 4.7% 3.2% Change • Ferrous brokerage sales associate
Slide 6: EBIT by Region
EBIT by Region $200 153.8 $150 113.3 millions) 81.2 $100 69.0 46.9 $50 (34.8) FY2010 (20.6) ‘s in$0 FY2009 $ ( -$50 (30.1) (32.3) (50.1) -$100 Australiasia North America Europe Corporate Amortisation of intangibles Change FY 2010 FY 2009 $m (%) Australasia 81.2 46.9 73.1 North America 113.3 153.8 (2
Slide 7: EBIT by Product
EBIT by Product $300 258.3 $250 millions) $200 133.2 $150 71.4 40.1 95.5 89.4 $100 21.4 29.3 $50 FY2010 ‘s in 3.2 $0 $ ( ($50)FY2009 (62.5) (8.3) (7.3) ($100) Change EBIT by product is presented pre-corporate costs $m FY 2010 FY 2009 (%) (including group head office costs) and amortisation of Ferrou
Slide 8: EBIT Change by Region
EBIT Change by Region 250 200 (40) 15 12 99 150 million 208 $100 34 50 88 FY09 EBIT* Australasia Europe (inc. UK) North America Corporate Intangibles FY10 EBIT Costs Australasia $34m Europe (incl. UK) $99m North America ($40m) Group Corporate Costs $12m Amortisation of intangibles $15m *FY09 EBIT is
Slide 9: EBIT Change by Product
EBIT Change by Product 250200 15 (42) 24 97 150 100 208 50 170 88 (144) 0 (50) FY09 EBIT* Ferrous Non Ferrous Recycling Manufacturing/ Corporate Intangibles FY10 EBIT (incl. NFSR) Solutions JVs/Other Costs Ferrous Trading & Brokerage (incl. NFSR) ($144m) Non Ferrous Trading & Brokerage $170m Recycli
Slide 10: Intake Volumes
Intake Volumes FY 2010 FY 2009 4.6% 0.3% Ferrous Shredded (incl. 0.4% 3.5% NFSR) 24.6% Other Processed Ferrous 29.6% 33.6% 40.1% Ferrous Brokerage Non Ferrous Trading/Brokerage Other 30.4% 32.9% Change • Ferrous brokerage tonnes associated with Total Tonnes (‘000’s) FY 2010 FY 2009 (%) SAR JV were 1
Slide 11: Sales by Destination
Sales by DestinationFY 2010 FY 200916%21% 33% 37% 14% 11% 3% 1%3% 18% 16% 2%1% 10%1% 13%Europe • Domestic sales refer to sales in country of sourcingNE Asia China & HK SE Asia & Oceania Middle East USA/Canada South/Central America Domestic Sales
Slide 12: Group Income Statement
Group Income Statement $m FY 2010 FY 2009 Change ($) Change (%) Sales Revenue $7,452.6 $8,636.2 $ (1,183.6) (13.7) EBITDA* 352.9 259.0 93.9 36.3 EBIT (pre-goodwill impairment) 208.1 88.2 119.9 135.9 Non-cash goodwill impairment — 191.1 (191.1) (100%) EBIT 208.1 $ (102.9) $311.0 302.2 Net Interest Ex
Slide 13: Group Cash Flow
Group Cash Flow $m FY 2010 FY 2009 Change ($) Profit / (Loss) for the year 126.7 (150.3) 277.0 Adjustments for non-cash items Depreciation and amortisation 143.9 170.8 (26.9) Impairment of goodwill — 191.1 (191.1) Share-based payment 16.9 9.3 7.6 Equity accounted profits net of dividends received 5.
Slide 14: North America Regional Results
North America Regional Results FY 2010 FY 2009 Change (%) Sales Revenue ($m) $5,040.0 $6,368.5 (20.9) EBITDA ($m)* $178.6 $228.1 (21.7) Depreciation (64.4) (74.3) 13.3 EBITA ($m)* $114.2 $153.8 (25.8) Amortisation of intangibles (32.3) (47.1) 31.4 EBIT ($m)* $81.9 $106.7 (23.2) Assets ($m) $3,032.3
Slide 15: Australasia Regional Results
Australasia Regional Results FY 2010 FY 2009 Change (%) Sales Revenue ($m) $1,221.3 $1,158.6 5.4 EBITDA ($m)* $102.2 $67.5 51.4 Depreciation ($m) (21.0) (20.6) (1.9) EBITA ($m)* $81.2 $46.9 73.1 Amortisation of intangibles ($m) (0.1) (0.1) - EBIT ($m)* $81.1 $46.8 73.3 Assets ($m) $562.8 $485.5 15.9
Slide 16: Europe Regional Results
Europe Regional Results FY 2010 FY 2009 Change (%) Sales Revenue ($m) $1,191.3 $1,109.1 7.4 EBITDA ($m) $91.9 $(6.3) 1,558.7 Depreciation ($m) (22.9) (23.8) 3.8 EBITA ($m) $69.0 $(30.1) 329.2 Amortisation of intangibles ($m) (2.4) (2.9) 17.2 EBIT ($m) $66.6 $(33.0) 301.8 Assets ($m) $644.6 $553.1 16
Slide 17: Right. Now.
Right. Now.