Slide 1: Schouw & Co. First half of 2014
Schouw & Co. First half of 2014 CEO Jens Bjerg Sørensen August 2014
Slide 2: H1 at a glance
1 2 3 Revenue EBIT Debt DKK 5.1bn DKK 239m NIBD 24m Growth of 2.0% Growth of 32% A very attractive financial position H1 at a glance 4 5 6 Dividends/buy back ROIC pre tax/goodwill Outlook for the year DKK 256m 18.1% Positive Gross dividend DKK 153m Highest ROIC in five years More specific in FY and
Slide 3: Schouw & Co. key figures
Q2 YTD LTM 2013 2014 2013 D 2014 2013 D Revenue 2.659 2.675 -1% 5.064 4.964 2% 11.745 11.645 EBITDA 229 216 6% 415 359 16% 1.094 1.039 EBITDA% 8,6% 8,1% 7% 8,2% 7,2% 13% 9,3% 8,9% EBIT 141 127 11% 239 182 32% 742 685 EBIT% 5,3% 4,7% 12% 4,7% 3,7% 29% 6,3% 5,9% Schouw & Co. Profit before tax 141 250
Slide 4: BioMar
Revenue flat at DKK 3.4bn Americas Solid 10% volume increase to 418kt Chile continues strong development Declining raw material prices Gradually better farming environment Satisfactory development in Costa Rica EBIT increases 78% to DKK 112m Tough competition Supports long-term d
Slide 5: BioMar key figures
Q2 YTD LTM 2013 2014 2013 D 2014 2013 D Revenue 1.837 1.901 -3% 3.430 3.421 0% 8.711 8.702 EBITDA 114 104 10% 183 136 35% 585 538 EBITDA% 6,2% 5,5% 14% 5,3% 4,0% 35% 6,7% 6,2% EBIT 79 68 16% 112 63 78% 444 394 BioMar EBIT% 4,3% 3,6% 20% 3,3% 1,8% 78% 5,1% 4,5% key figures Profit before tax Cash Flow
Slide 6: Fibertex Personal Care
Revenue increases 5% to DKK 847m Future capacity increase likely Volume increase in Malaysia following new Following the growth of customers capacity (Line 7) Increasing market shares not on the agenda Volume decrease in Denmark compared to Increased focus on softer and bulkier very go
Slide 7: Spunmelt is a regional industry
NORTH AMERICA CHINA Market size c. 500k t EUROPE Market size c. 250k t Market growth c. 0-2% Market size c. 400k t Market growth c. 5-10% Spunmelt is Leaders KC, FQN, PGI Market growth c. 0-2% Leaders Pegas, FPC, Fitesa Leaders PGI, Toray, Avgol a regional industry MIDDLE EAST Market size c. 275k t
Slide 8: Fibertex Personal Care key figures
Q2 YTD LTM 2013 2014 2013 D 2014 2013 D Revenue 421 392 7% 847 803 5% 1.598 1.554 EBITDA 66 68 -3% 136 147 -7% 278 288 Fibertex EBITDA% EBIT 15,8% 34 17,5% 37 -10% -7% 16,1% 73 18,3% 84 -12% -14% 17,4% 153 18,6% 164 Personal Care EBIT% 8,1% 9,4% -13% 8,6% 10,5% -18% 9,5% 10,6% key figures Profit bef
Slide 9: Fibertex Nonwovens
Solid increase in revenue Continuing the development Up 13% to DKK 539m Targeting benchmark-level Positive growth across the profitability segments Full utilisation of capacity requires Automotive sector in very strong investments development Upgrades, debottlenecking, new lines Grow
Slide 10: Fibertex Nonwovens key figures
Q2 YTD LTM 2013 2014 2013 D 2014 2013 D Revenue 267 246 9% 539 478 13% 994 933 EBITDA 31 26 20% 64 53 22% 114 102 Fibertex EBITDA% EBIT 11,8% 16 10,7% 10 10% 62% 12,0% 33 11,1% 20 8% 67% 11,4% 50 10,9% 37 Nonwovens EBIT% 5,9% 3,9% 49% 6,1% 4,1% 49% 5,1% 4,0% key figures Profit before tax Cash Flow f
Slide 11: Hydra-Grene
High activity in H1 Revenue up 19% to DKK 281m Significant higher sales to the wind segment, especially in US OEM continues positive development Significant progress in EBIT EBIT up by 43% to DKK 32m High volume gives good utilisation of capacity Substantial scale effect Hydra-Grene
Slide 12: Hydra-Grene key figures
Q2 YTD LTM 2013 2014 2013 D 2014 2013 D Revenue 147 124 19% 281 235 19% 525 480 EBITDA 22 18 22% 41 29 41% 76 64 EBITDA% 14,9% 14,5% 3% 14,5% 12,2% 18% 14,5% 13,4% EBIT 18 15 20% 32 22 43% 55 46 Hydra-Grene EBIT% 11,9% 11,8% 1% 11,3% 9,4% 20% 10,6% 9,6% key figures Profit before tax Cash Flow from o
Slide 13: Kramp
20% ownership following the A strong European leader merger with Grene Significant potential for further Recognised as an associate growth European #1 in parts and Dedicated top management accessories for farming focuses on synergies and merger implementation Ongoing assessment of struct
Slide 14: 2014 H1 summary
In total a very strong H1 for Schouw & Co. Positive demand in all businesses Benefitting from warm winter, especially in Q1 Revenue up 2% to DKK 5.1bn Progress across all businesses Volume increased more than revenue 2014 H1 Strong EBIT progress of 32% to DKK 239m summary Increase in
Slide 15: Outlook
EBIT REVENUE After Guidance Realised Guidance Realised Q2 2014 2014 2013 2014 2013 BioMar 350-400 325-400 394 c. 8.500 8.702 Fibertex Personal Care 150-170 150-170 164 c. 1.700 1.554 Fibertex Nonwovens 45-55 35-45 37 c. 1.000 933 Hydra-Grene 50-60 50-60 46 c. 500 480 Outlook Others (incl. eliminatio
Slide 16: Strategic long-term ambitions
BIOMAR HYDRA-GRENE Growth in existing and new markets Reduce fluctuations and Beyond the limits: Sustain cross utilise expand increase profitability in wind Volume ambition 1.7 million tons, 5% EBIT margin Building new segments Salmon is less than 5% of global fish farming Maintain
Slide 17: Growth potential
ORGANIC ACQUISITIVE Limited growth in the very Several potential candidates, short term, but significant primarily in Asia. Profitability BIOMAR long-term potential in and attractiveness a salmon feed. question. FIBERTEX The Asian market is growing Limited number of obvious Growth PERSONAL CARE 10%
Slide 18: Contact
Contact Investor Relations Kasper Okkels CEO/President Jens Bjerg Sørensen +45 86 11 22 22 schouw@schouw.dk