Mayr-Melnhof Karton AG · VIE:MMK
Mayr-Melnhof Karton — Mayr-Melnhof Group — Q1-Q3 2012 Earnings Presentation
24 slides from Mayr-Melnhof Karton's earnings presentation, Nov 15, 2012
Slide 1: Results for the Quarters 1-3, 2012
Mayr-Melnhof Group Results for the Quarters 1-3, 2012 November 15, 2012
Slide 2: Market Position
Mayr-Melnhof Group Market Position MM KARTON World‘s largest producer of recycled fiber based cartonboard with a rising position in virgin fiber based board MM PACKAGING Leading European Folding Carton Producer, Growing presence outside of Europe 2
Slide 3: 39 Production Sites
Mayr-Melnhof Group 39 Production Sites - 39 Plants - in 18 Countries - on 4 Continents 8,716 Employees 3
Slide 4: Highlights Quarters 1-3 2012
Mayr-Melnhof Group Highlights Quarters 1-3 2012 • Sustainable profitability maintained in the first three quarters • Remarkable profit improvement in the 3rd quarter • Good capacity utilization in the course of the year • Continued path of expansion 4
Slide 5: MMP - Market Leader in Colombia
Mayr-Melnhof Packaging MMP - Market Leader in Colombia MMP becomes market leader in Colombia: Acquisition of Plegacol and concentration with business of the largest Columbian folding carton producer, Gráficas Los Andes, Santiago de Cali 5
Slide 6: MMP Increase in Shareholdings
Mayr-Melnhof Packaging MMP Increase in Shareholdings Shareholdings in market leaders in Russia, Chile and Tunesia increased to 100 % 6
Slide 7: Group Results Quarters 1-3, 2012
Group Results Quarters 1-3, 2012 7
Slide 8: MM Group: Quarterly Overview
Mayr-Melnhof Group MM Group: Quarterly Overview millinos of EUR 8
Slide 9: MM Group - Quarters
Mayr-Melnhof Group MM Group - Quarters consolidated in millions of EUR, IFRS 1Q/2011 2Q/2011 3Q/2011 4Q/2011 1Q/2012 2Q/2012 3Q/2012 Sales 494.7 493.5 510.6 460.8 494.9 480.1 492.2 EBITDA 70.7 62.5 62.4 56.2 62.6 59.2 70.7 EBITDA margin (in %) 14.3 % 12.7 % 12.2 % 12.2 % 12.6 % 12.3 % 14.4 % Operati
Slide 10: Overview 3rd Quarter 2012
Mayr-Melnhof Group Overview 3rd Quarter 2012 • Continuing economic downturn – more cautious ordering behavior of customers • Flexibility, geograph. positioning and product mix provide a good capacity utilization of 99 % for MM Karton (1Q/2Q 2012: 97 %; 3Q 2011: 91 %) • Average price levels defended
Slide 11: Group Results Quarters 1-3, 2012
Mayr-Melnhof Group Group Results Quarters 1-3, 2012 consolidated in millions of EUR, IFRS 1-3Q/2012 1-3Q/2011 +/- Sales 1,467.2 1,498.8 -2.1 % Operating profit 130.0 135.4 -4.0 % Operating margin (in %) 8.9 % 9.0 % Profit before tax 124.2 128.3 -3.2 % Income tax expense (33.3) (36.4) Profit for the
Slide 12: Consolidated Balance Sheet
Mayr-Melnhof Group Consolidated Balance Sheet consolidated in millions of EUR, IFRS Sep. 30, 2012 Dec. 31, 2011 Non-current assets 718.1 695.1 Current assets 909.5 871.5 Total assets 1,627.6 1,566.6 Equity 1,065.4 1,005.9 Liabilities 562.2 560.7 Total equity and liabilities 1,627.6 1,566.6 Total fun
Slide 13: Consolidated Cash-flow Statement
Mayr-Melnhof Group Consolidated Cash-flow Statement consolidated in millions of EUR, IFRS 1-3Q/2012 1-3Q/2011 Cash flow from operating activities 107.3 123.7 Cash flow from investing activities (112.4) (98.4) Cash flow from financing activities (22.7) (30.4) Cash and cash equivalents beg. of the per
Slide 14: Mayr-Melnhof Karton
Mayr-Melnhof Karton MM KARTON AG
Slide 15: MMK Quarters 1-3, 2012
Mayr-Melnhof Karton MMK Quarters 1-3, 2012 • Short-term upturn in demand at the beginning of the year followed by more cautious planning of customers • Capacity utilization 98 % (1-3Q 2011: 96 %) • High input costs require high discipline in cartonboard prices • Results however below previous year 1
Slide 16: MMK - Quarters
Mayr-Melnhof Karton MMK - Quarters in millions of EUR, IFRS 1Q/2011 2Q/2011 3Q/2011 4Q/2011 1Q/2012 2Q/2012 3Q/2012 Sales 243.4 249.1 241.3 213.4 231.4 235.1 237.2 Operating profit 24.3 19.0 13.4 11.7 16.6 12.9 20.1 Operating margin (in %) 10.0 % 7.6 % 5.6 % 5.5 % 7.2 % 5.5 % 8.5 % Tonnage sold (in
Slide 17: MMK Results Quarters 1-3, 2012
Mayr-Melnhof Karton MMK Results Quarters 1-3, 2012 in millions of EUR, IFRS 1-3Q/2012 1-3Q/2011 +/- Sales 703.7 733.8 -4.1 % Operating profit 49.6 56.7 -12.5 % Operating margin (in %) 7.0 % 7.7 % Tonnage sold (in thousands of tons) 1,150 1,184 -2.9 % Tonnage produced (in thousands of tons) 1,186 1,1
Slide 18: Mayr-Melnhof Packaging
Mayr-Melnhof Packaging 18
Slide 19: MMP Quarters 1-3, 2012
Mayr-Melnhof Packaging MMP Quarters 1-3, 2012 • European folding carton market characterized by downturn in consumption and reduction of stock levels • MMP performed well with focus on high effeciency and attractive market segments • Capacity utilization with a growing heterogeneity relating to sale
Slide 20: MMP Quarters
Mayr-Melnhof Packaging MMP Quarters in millions of EUR, IFRS 1Q/2011 2Q/2011 3Q/2011 4Q/2011 1Q/2012 2Q/2012 3Q/2012 Sales 281.2 272.8 296.6 274.3 289.3 271.3 281.9 Operating profit 25.7 23.7 29.3 23.8 25.5 24.1 30.8 Operating margin (in %) 9.1 % 8.7 % 9.9 % 8.7 % 8.8 % 8.9 % 10.9 % Tonnage processe
Slide 21: MMP Results Quarters 1-3, 2012
Mayr-Melnhof Packaging MMP Results Quarters 1-3, 2012 in millions of EUR, IFRS 1-3Q/2012 1-3Q/2011 +/- Sales 842.5 850.6 -1.0 % Operating profit 80.4 78.7 +2.2 % Operating margin (in %) 9.5 % 9.3 % Tonnage processed (in thousands of tons) 490 517 -5.2 % 21
Slide 22: New High-Performance Plant in Poland
Mayr-Melnhof Packaging New High-Performance Plant in Poland Build-up of a state-of-the-art third folding carton plant in Poland (Bydgoszcz) to be commissioned in January 2013 22
Slide 23: Development center for packaging gravure, Trier
Mayr-Melnhof Packaging Development center for packaging gravure, Trier Worldwide most modern developtment center for packaging gravure exploiting new growth opportunities with customers 23 23
Slide 24: Outlook
Mayr-Melnhof Group Outlook • European main sales market dominated by continuing recession - Quantity dynamics flattening off • Cartonboard and folding carton markets still marked by cautious ordering behavior of customers as well as intensified competition • No sign of relief for input prices – pres
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