Sonae Indústria S.G.P.S. S.A

Sonae Indústria S.G.P.S — Sonae Indústria — Q1 2011 Earnings Presentation

17 slides from Sonae Indústria S.G.P.S's earnings presentation, May 2011

  1. Slide 1: 1Q11 Results Presentation

    1Q11 RESULTS PRESENTATION (Q inoustain

  2. Slide 2: Consolidated Operational Review

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW Comparing 1Q11 with 4Q10:  Turnover increased 10%, reaching 352 million Euros  Recurrent EBITDA recovered to 18 million Euros  Net Loss reduced from 23 to 21 million Euros Comparing 1Q11 with 1Q10:  Turnover increased 10%

  3. Slide 3: Volumes Sold

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA VOLUMES SOLD  1Q11, volumes sold 3% above 1Q10* and 8% higher then 4Q10. CONSOLIDATED VOLUME SALES WITHOUT BRAZIL Millions of m3 1,60 1,37 1,35 1,39 1,39 1,40 1,27 1,29 1,25 1,19 1,19 1,20 1,00 0,80 0,60 0,40 0,20 0,00 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q

  4. Slide 4: Capacity Utilization

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA CAPACITY UTILIZATION  Capacity utilization in 1Q11 is 5pp higher when compared to 1Q10 and 9pp higher compared with 4Q10. Capacity Utilization (W/o Brazil) - Quarterly 110,0% 100,0% 90,0% 77,2% 77,4% 80,0% 72,0% 70,7% 70,0% 74,2% 75,0% 65,9% 68,1% 70,1% 67

  5. Slide 5: Price and Cost Evolution

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA PRICE AND COST EVOLUTION CONSOLIDATED QUARTERLY AVERAGE PRICES * (eur/m3) BASE 100:1Q07 1,4  Prices have been moving 1,2 1,0 0,8 0,6 0,4 1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09 3Q09 4Q09 1Q10 2Q10 3Q10 4Q10 1Q11 PB MDF OSB MFC CONSOLIDATED QUARTE

  6. Slide 6: Chemicals: Urea and Methanol

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA CHEMICALS: UREA AND METHANOL  CHEMICAL COSTS HAVE A SIGNIFICANT IMPACT IN OUR COST STRUCTURE (AROUND 30% VARIABLE COSTS)  UREA AND METHANOL ARE THE MAIN CHEMICALS USED TO PRODUCE RESINS USED IN OUR PRODUCTION NWE ICIS Methanol Prices - Out. 2003_2011 480

  7. Slide 7: Consolidated Operational Review

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA CONSOLIDATED OPERATIONAL REVIEW  Consolidated operational figures:  Consolidated turnover in 1Q11 totalled 352 million Euros, representing a 10% recovery from 4Q10. However, high raw material cost, kept EBITDA recurrent margin at a similar level.  Compar

  8. Slide 8: Geographic Review of Operations: Iberia

    HIGHLIGHTS OF 1Q11 RESULTS Geographic Review of Operations IBERIA  Iberia continued to experience tough € Mn TURNOVER & RECURRENT EBITDA IBERIA market conditions, particularly due to the 140 30,0% macroeconomic situation and the consequent austerity measures which are 120 25,0% causing a very depre

  9. Slide 9: Geographic Review of Operations: Central Europe

    HIGHLIGHTS OF 1Q11 RESULTS Geographic Review of Operations CENTRAL EUROPE (Germany, France and the UK) € Mn TURNOVER & RECURRENT EBITDA CENTRAL EUROPE  In Germany, during 1Q11, compared to 4Q10, volumes sold increased by 7% and the capacity 220 195 utilization jumped 10pp. Turnover moved 15% 200 18

  10. Slide 10: Geographic Review of Operations: Rest of the World

    HIGHLIGHTS OF 1Q11 RESULTS Geographic Review of Operations REST OF THE WORLD (Canada and South Africa)  In Canada, our volumes sold in 1Q11 are € Mn 6% below 1Q10 although having recovered ROW TURNOVER & RECURRENT EBITDA 7% when compared to 4Q10. Turnover in local currency is 6% above 4Q10. On the

  11. Slide 11: Capex, Working Capital and Net Debt

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA CAPEX, WORKING CAPITAL AND NET DEBT  Additions to Fixed Assets in 1Q11 were 6 million Euros, mostly related to investments in essential maintenance, Health & Safety and Environmental improvements.  Working Capital increased by 17 million Euros during 1Q11

  12. Slide 12: Scheduled Loan Repayments

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA SCHEDULED LOAN REPAYMENTS SCHEDULED LOAN REPAYMENTS* (as of 31st March 2011) 160 140 50 million Euros thereof are already 120 refinanced 100 80 148 60 40 77 79 74 72 54 20 37 44 32 0 2Q11 2H11 1H12 2H12 1H13 2H13 2014 2015 ≥2016  As already announced in Ap

  13. Slide 13: Profit & Loss Account

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA PROFIT & LOSS ACCOUNT (euro millions) 1Q11/ 1Q11/ 1Q10 4Q10 1Q11 1Q10 4Q10 Consolidated Turnover 320 320 352 10% 10% Other Operational Income 20 13 9 (58%) (34%) EBITDA (6) 10 17 370% 78% Recurrent EBITDA 7 14 18 153% 23% Recurrent EBITDA Margin % 2,2% 4,5%

  14. Slide 14: Balance Sheet

    HIGHLIGHTS OF 1Q11 RESULTS SONAE INDÚSTRIA BALANCE SHEET (euro millions) 2010 1Q11 Non Current Assets 1.135 1.103 Tangible Assets 984 953 Goodwill 94 93 Deferred Tax 40 38 Other Non Current Assets 17 19 Current Assets 351 383 Inventories 129 138 Trade Debtors 159 202 Cash & Investments 27 11 Other C

  15. Slide 15: Looking Forward

    LOOKING FORWARD 15

  16. Slide 16: Looking Forward

    SONAE INDÚSTRIA LOOKING FORWARD  We expect our EBITDA margins to continue to improve, based on a stronger performance in Central Europe.  Moreover, the optimization of our business operations, supported by the matrix organization we have implemented, is expected to bring further efficiency gains.

  17. Slide 17: Sonae Indústria

    eC) SONAE INDUSTRIA

Sonae Indústria — Q1 2011 Earnings Presentation on 6ix