Sonae Indústria S.G.P.S — Sonae Indústria — 9M12 Earnings Presentation
14 slides from Sonae Indústria S.G.P.S's earnings presentation, Nov 16, 2012
Slide 1: Investors and Analysts Conference Call 9M12 Results
INVESTORS AND ANALYSTS CONFERENCE CALL 9M12 RESULTS 16th November 2012
Slide 2: Consolidated Operational Review
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Compared to 9M11, consolidated turnover* for 9M12 decreased by 2% to 1,005 million Euros with a reduction of approximately 4% in volumes sold. Price adjustments were not enough to compensate the variable cost increases and
Slide 3: Consolidated Operational Review
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Consolidated turnover in 3Q12* totalled 312 million Euros, representing a 8% decrease compared to 2Q12. The Recurrent EBITDA margin dropped 0.7pp to 6.4% mainly due to the seasonal lower activity in the Northern Hemisphere
Slide 4: Consolidated Operational Review: Volumes, Prices and Costs
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Quarterly Volumes Sold Millions of m3 In 9M12 when comparing to 9M11, 1,24 1,29 1,39 1,42 1,32 1,27 1,40 1,34 1,20 volumes sold declined in France, Germany and in the UK. 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 Averag
Slide 5: Operational Review Europe
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL OPERATIONAL REVIEW EUROPE In Europe, when comparing 9M12** with 9M11**: Turnover decreased by 4%, due to lower volumes sold Recurrent EBITDA Margin moved 0.2pp up, reaching 6.6% of turnover € Mn Europe* Turnover & € Mn Europe* Turnover & Recurrent EBI
Slide 6: Operational Review Rest of the World: Canada and S.A.
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL OPERATIONAL REVIEW REST OF THE WORLD: Canada and S.A. In RoW region, when comparing 9M12 with 9M11: Volumes sold increased by 4% and turnover by 12% Nevertheless, recurrent EBITDA margin decreased by 3.5pp to 11.6% due to the much higher variable cost
Slide 7: Variable Costs Evolution
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Variable costs Evolution QUARTERLY AVERAGE COSTS (eur/m3) BASE 100:1Q10 Production costs slightly decreased 1,4 1,3 during this quarter 1,2 In 4Q12, chemical costs are 1,1 1,0 expected to move slightly up, 0,9 particularl
Slide 8: Volumes Sold and Capacity Utilization
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW VOLUMES SOLD AND CAPACITY UTILIZATION 4Q09: closure of 1Q09: closure of Kaisersesch • PB Line in Coleraine plant (Germany) (UK) • George plant (S.A.) 3Q12: closure of 3Q09: Sale of 2Q10: Sale of Kwosley plant (UK) Brazil Lure
Slide 9: Managing for Cash
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW MANAGING FOR CASH WORKING CAPITAL declined by 4 million Euros in 3Q12. Inventories decreased by 2 million Euros and Trade Creditors moved 11 million Euros down. INVESTMENTS continue to be closely monitored Additional Fixe
Slide 10: Financial Review: Net Debt
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL FINANCIAL REVIEW Net Debt Net Debt declined by 28 million Euros over the last 12 months NET DEBT ND / REC. EBITDA 950 25 Net Debt 900 ND/Rec.Ebitda 20 850 15 800 10 750 5 700 650 0 1Q'09 2Q'09 1Q'10 2Q'10 3Q'10 2Q'11 3Q'11 4Q'11 3Q'12 3Q'09 4Q'09 4Q'10 1Q
Slide 11: Financial Review: Refinancing
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL FINANCIAL REVIEW Refinancing We continue working in alternatives to refinance well in advance. SCHEDULED LOAN REPAYMENTS* (as of 30th September 2012) As previously announced, 45 million Euros thereof were refinanced in October 160 140 120 100 80 136 60 40
Slide 12: Looking Forward
.. today, tomorrow, let’s be better together! LOOKING FORWARD - CH 2 Use wood, store carbon
Slide 13: Looking Forward
SONAE INDÚSTRIA: EA_9M12 – CONFERENCE CALL Looking Forward In the near future, we don’t expect an improvement in market demand in Europe, due to the continuing fiscal tightening in Southern Europe. As such we will continue to analyse opportunities to improve profitability by consolidating activity
Slide 14: Thank You, Questions?
THANK YOU QUESTIONS? jE} SONAE INDUSTRIA