Capral Limited · ASX:CAA
Capral — Capral Aluminium — FY2002 Earnings Presentation
17 slides from Capral's earnings presentation, February 2003
Slide 1: Analyst Presentation – February 2003: Full Year Results and Strategy
Capral Aluminium Limited Analyst Presentation – February 2003 z Full Year Results 31 December 2002 z Capral Strategy Greg L’Estrange – Managing Director Nigel Chalk – Finance Director
Slide 2: Analyst Presentation: Full Year Results 31 December 2002
Capral Aluminium Limited Analyst Presentation Full Year Results 31 December 2002
Slide 3: Earnings Summary
Capral Aluminium Limited Earnings Summary Full Year 31 December 2002 000's 2002 2001 Revenue from operating activities 440,327 517,226 Revenue from outside the operating activities 36,177 52,948 Total Revenue 476,504 570,174 EBITDA 18,033 13,410 D&A 12,356 14,072 EBIT 5,677 (662) Interest Expense (2
Slide 4: Underlying Performance
Capral Aluminium Limited Underlying Performance Full Year 31 December 2002 000's 2002 2001 Better / (Worse) Revenue from operating activities Sales Revenue Australia - core business 374,375 364,260 10,115 Other (primarily scrap sales) 44,845 58,607 (13,762) 419,220 422,867 (3,647) Sales Revenue Aust
Slide 5: 2001 vs 2002 Tonnes by Market Segment (Australia)
Capral Aluminium Limited 2001 vs 2002 Tonnes by Market Segment (Australia) 40,000 38,142 35,000 31,092 30,000 25,000 20,000 15,000 14,542 11,641 10,000 7,993 7,348 5,000 2,611 2,860 0 Architectural Industrial Automotive Centres 2001 2002 5
Slide 6: Overhead Analysis
Capral Aluminium Limited Overhead Analysis Full Year 31 December 2002 000's 2002 2001 Warehouse Overheads 7,976 6,180 Selling Expenses 37,223 40,483 Total Sales & Distribution 45,199 46,663 Information Technology 9,685 7,714 Corporate Overheads 9,752 10,804 Total Overheads 64,636 65,181 6
Slide 7: Balance Sheet 2002
Capral Aluminium Limited Balance Sheet 2002 000's 2001 Full Year Current Assets & Liabilities Cash 5,249 7,510 31 December Receivables 59,708 77,555 2002 Inventories 47,797 63,594 Payables (49,383) (53,266) Borrowings (10,048) (30,048) Provisions (10,412) (12,314) Other 3,328 3,084 Total 46,239 56,1
Slide 8: Operating Working Capital Performance
Capral Aluminium Limited Operating Working Capital Performance (excluding Borrowings, Cash & Taxation) 000's 2002 2001 2000 Current Assets Receivables 59,708 77,555 94,717 Inventories 47,797 63,594 97,725 Other Current Assets 3,361 3,993 704 Current Liabilites Payables (49,383) (53,266) (65,975) Oth
Slide 9: Cash Flow
Capral Aluminium Limited Cash Flow Full Year 31 December 2002 000's 2002 2001 Net Cash Inflow /(Outflow) from Operating Activities 45,652 (24,533) Cash Flows from Investing Activities Expenditure on Information Systems (4,414) (287) Capital Expenditure (36,637) (21,429) Proceeds from Sale of Busines
Slide 10: Progress on December 2001 Undertakings for 2002
Capral Aluminium Limited Progress on December 2001 Undertakings for 2002 Subject Measure Status 1) Property Sales $21m Achieved 2) Working Capital $25m $28.5m achieved 3) Headcount 161 169 achieved 4) One System In place Pilot site operational; to be implemented by mid 2003 5) New Zealand Path forwa
Slide 11: Analyst Presentation: Capral Strategy
Capral Aluminium Limited Analyst Presentation Capral Strategy
Slide 12: Vision
Capral Aluminium Limited Vision “Liberate the Potential of Capral” A work in progress. 12
Slide 13: Strategy
Capral Aluminium Limited Strategy To create competitive advantage by creating low cost facilities for manufacturing of aluminium extrusions and flat products at short lead times. How: z Focused sites z Leading technology z Low overhead environment 13
Slide 14: Cost Leadership
Capral Aluminium Limited Cost Leadership z Operations – Perth Operations – New Architectural Facility – New Industrial Facility – Reduced Regional warehouse costs closure of Murrarie (Qld), Homebush (NSW) z Overhead – Corporate 2 year target from $20.6m to $14.5m – Sales and Distribution 10.4% of sa
Slide 15: Smeaton Grange Site
Capral Aluminium Limited Smeaton Grange Site • In mid 2002 NSW Government declared the project “State Significant” • Capral lodged Planning Application on 16 October 2002, after extensive consultation with Government departments to ensure full disclosure. • The approval process was to be completed b
Slide 16: Alternative Options
Capral Aluminium Limited Alternative Options Create two focused manufacturing operations: z Industrial Products in Melbourne z Architectural Products in either Smeaton Grange or Ipswich Advantages z Industrial Products could be fully operational in third quarter 2003 z Existing press in Melbourne co
Slide 17: Focus for 2003
Capral Aluminium Limited Focus for 2003 Execution z New Sites z Warehouse Consolidation z One System Implementation z Overhead Reduction z Customer – In full, on time, to specification 17