Eucatex S.a. Industria E Comercio · BMFBOVESPA:EUCA3
Eucatex S.a. Industria E Comercio — Eucatex Group — 4Q15 Earnings Presentation
16 slides from Eucatex S.a. Industria E Comercio's earnings presentation, Mar 10, 2016
Slide 1: Eucatex Group 4Q15 Earnings Presentation
Eucatex Group 4Q15 Earnings Presentation March 10, 2016
Slide 2: Highlights
Eucatex Group Highlights Net Revenue 4Q15: R$289.4 million, drop of 3.4% 2015: R$1,143.3 million, growth of 2.6% Recurring EBITDA 4Q15: R$45.9 million, reduction of 24.1% 2015: R$196.7 million, reduction of 4.4% Recurring EBITDA 4Q15: 15.9%, contraction of 4.3 pp Margin 2015: 17.2%, contraction of 1
Slide 3: Eucatex Group
Eucatex Group Founded in 1951 Segments: Furniture, Retail, Construction and Export Subsidiary in Atlanta, USA 79 eucalyptus farms, totaling 46,300 hectares 2,378 employees MDP and Laminate Fiberboard T-HDF/MDF Paints and Varnishes Seedling Nursery Flooring Cabo Sto. Salto/SP Salto/SP Botuc
Slide 4: Operating Data - Net Revenue
Operating Data Net Revenue 4Q14 4Q15 Var 2014 2015 Var R$299.6 million R$289.4 million -3.4% R$1,114.7 million R$1,143.3 million 2.6% Distribution by Product Distribution by Segment Other Export 5% Market 11% Retail Furniture Paint Industry 11% Segment 38% 23% Wood Segment Construction 72% 40% 4
Slide 5: Construction - ABRAMAT Index
Construction ABRAMAT Index – Domestic Market 14.3% 13.1% 4.1% 3.0% 1.4% -4.5% -6.6% -12.0% -12.6% 2008 2009 2010 2011 2012 2013 2014 2015 Estimated 2016 Source: ABRAMAT 5
Slide 6: Furniture Industry
Furniture Industry Effective Installed Capacity (Fiberboard + MDF + MDP) vs. Production Indicator CAGR GDP 0.4% Capacity 7.3% Production 3.0% *GDP Estimate (Tendências Consultoria) 2015 ~ -3.8% *2016 ~ -4.0% Source: Eucatex Estimate 6
Slide 7: Wood Segment Net Revenue
Wood Segment Net Revenue 4Q14 4Q15 Var Laminated Flooring 16% MDP R$207.5 million R$208.5 million 0.5% 29% 2014 2015 Var Fiberboard 27% R$821.8 million R$850.3 million 3.5% T- 139 138 130 HDF/MDF Total 120 Market (‘000 m³) 28% 118 DOMESTIC + EXPORT MARKET 114 110 106 108 104 1,920.4100 100 7,595.3 1
Slide 8: Wood Segment - Capacity Utilization and Costs
Wood Segment Installed Capacity Utilization – 4Q15 7% 83% 89% 86% 39% Fiberboard T-HDF/MDF MDP and flooring Laminated Flooring (240,000m³/year) (275,000 m³/year) (430,000 m³/year) (12 million m²/year) Breakdown of Costs – 4Q15 All Panels Resin Panels Non-Resin Panels (Fiberboard) Thermal Thermal The
Slide 9: Paint Segment
Paint Segment Market – Million Gallons Net Revenue 300.2 284.1 4Q14 4Q15 Var R$71.4 million R$65.7 million -7.9% 2014 2015 Var R$251.1 million R$253.7 million 1.1% 2014 2015 Source: Eucatex Market Installed Capacity Utilization Breakdown of Costs – 4Q15 Labor 8% Electricity 1% Other Costs 2% Depreci
Slide 10: Financial Data
Financial Data Net Revenue / Employee (R$) SG&A (R$ million) and SG&A / Net Revenue (%) 480.8 453.8 460.0 1,118.3 1,114.7 1,143.3 19.5% 19.7% 393.1 19.0% 18.5% 224.9 963.5 207.4 211.3 188.3 2012 2013 2014 2015 2012 2013 2014 2015 Gross Income (R$ million) and Gross Margin (%) EBITDA (R$ million) and
Slide 11: Financial Data
Financial Data Highlights (R$ million) 4Q15 V.A. % 4Q14 V.A. % Var. (%) 2015 V.A. % 2014 V.A. % Var. (%) Net Revenue 289.4 100.0% 299.6 100.0% -3.4% 1,143.3 100.0% 1,114.7 100.0% 2.6% Fair value of biological assets 8.9 3.1% 10.1 3.4% -12.3% 44.3 3.9% 43.3 3.9% 2.5% Cost of products sold (220.6) -76
Slide 12: Debt
Debt Debt (R$ Million) 2015 9M15 Var. (%) 2014 Var. (%) Short Term Debt 210.6 211.1 -0.2% 141.2 49.2% Long Term Debt 140.9 175.7 -19.8% 172.9 -18.5% Gross Debt 351.5 386.8 -9.1% 314.1 11.9% Cash and Cash Equivalents 17.6 18.9 -6.9% 21.1 -16.5% Net Debt 333.9 367.9 -9.2% 293.0 14.0% % Short Term Debt
Slide 13: Investments
Investments Planned for 2016 Investments Made R$80 million Other 1% R$19.2 million R$20.1 million Panel Forest Factories 48% 46% Total Forest Total Forest R$9.9 million R$9.6 million Paints 4Q14 4Q15 5% Salto 6.5 7.3 Botucatu 1.9 2.7 Paints 0.8 0.5 Silviculture 8.1 7.5 Leasing 1.8 2.1 13
Slide 14: Sustainability – Forestry and Recycling
Sustainability – Forestry and Recycling 79 farms with Average Radius Total Processing Capacity - Recycling planted Equivalent to eucalyptus Salto Botucatu Ton/Year forests, totaling Trees Forests 46,300 173 km 32 Km 240,000 ton 2 million / year 1,500 hectares hectares Volume Processed (ton) - Recycl
Slide 15: Eucatex in 2016
Eucatex in 2016 2016 Guidelines Exports Adjust production lines to drive exports. Portfolio Reduce Domestic Market portfolio for increased efficiency and productivity. Forest Management Review forest management to reduce related investments. Investments Reduce manufacturing investments, focusing onl
Slide 16: Investor Relations Contact
José Antonio G. de Carvalho (55 11) 3049-2473 Executive VP and IRO ri@eucatex.com.br Waneska Bandeira Investor Relations www.eucatex.com.br/ri