Voestalpine Ag · VIE:VOE
Voestalpine — FY2006/07 Earnings Presentation
22 slides from Voestalpine's earnings presentation, June 2007
Slide 1: Financial Year 2006/07
Financial Year 2006/07 Investor Relations June 2007 voestalpine AG www.voestalpine.com
Slide 2: voestalpine AG - Status Quo
voestalpine AG - Status Quo Revenue EBITDA EBIT FY 2006/07 7.05 €bn 1.37 €bn 1.01 €bn Divisions Steel Railway Automotive Profilform Systems Revenue/Division 49 % 27 % 11 % 13 % Top European Worldwide Top European European player leadership player leadership European Top European Development European
Slide 3: Highlights
Highlights All key figures on all time high Sales € 7.05 bn EBIT € 1.01 bn EPS € 4.77 EBITDA € 1.37 bn Net profit € 0.77 bn ROCE 26 % Profits of all 4 divisions on record level Highest margins in processing divisions underline success of downstream strategy Growth story continued Signi
Slide 4: Consolidated overview - voestalpine
Consolidated overview - voestalpine FY 2005/06 FY 2006/07 Change in % Revenue €m 6,231 7,050 +13.1 EBITDA €m 1,079 1,365 +26.5 % of Revenue % 17.3 19.4 EBIT €m 724 1013 +39.9 % of Revenue % 11.6 14.4 EBT €m 674 977 +44.9 Net Profit €m 526 765 +45.4 voestalpine AG 4 | June 2007 | Investor Relations
Slide 5: EBIT-Margin voestalpine
EBIT-Margin voestalpine 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% FY 2002/03 FY 2003/04 FY 2004/05 FY 2005/06 FY 2006/07 voestalpine Group Division Steel Division Railway Systems Division Profilform Division Automotive voestalpine AG 5 | June 2007 | Investor Relations
Slide 6: Pro Forma – voestalpine & Böhler-Uddeholm
Pro Forma – voestalpine & Böhler-Uddeholm voestalpine & voestalpine Böhler-Uddeholm Change in 2006/07 2006/07* % Revenue €m 7,050 10,253 +45.4 EBITDA €m 1,365 1,873 +37.2 % of Revenue % 19.4 18.3 EBIT €m 1,013 1,419 +40.1 % of Revenue % 14.4 13.8 EBT €m 977 1,350 +38.1 Net Profit €m 765 1,033 +35.0
Slide 7: EBIT-Margin voestalpine & Böhler-Uddeholm
EBIT-Margin voestalpine & Böhler-Uddeholm 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% FY 2002/03 FY 2003/04 FY 2004/05 FY 2005/06 FY 2006/07 voestalpine + Böhler-Uddeholm Division Steel Division Railway Systems Division Profilform Division Automotive Böhler-Uddeholm* * as reported CY-Data voestalpine AG 7 |
Slide 8: Growth track record - voestalpine
Growth track record - voestalpine 8.000 2.000 7,050 €m 1.800 7.000 1.600 6.000 1.400 Revenue in €m 5.000 1.200 1,013 €m EBIT in €m 4.000 3,350 €m 1.000 800 3.000 600 2.000 400 1.000 154 €m 200 0 0 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 Revenue Revenue EBITEBIT FY 2001/02 FY 2006/07 EBIT-Mar
Slide 9: Division Steel – business development
Division Steel – business development 1Q 2Q 3Q 4Q 1Q-4Q 1Q-4Q in €m 2006/07 2006/07 2006/07 2006/07 2005/06 2006/07 yoy in % Revenue 899 875 888 1,018 3,315 3,680 + 11.0 EBIT 112 132 135 165 404 544 + 34.8 % of Revenue 12.5 15.1 15.2 16.2 12.2 14.8 Ongoing positive business environment and high dema
Slide 10: Division Railway Systems – business development
Division Railway Systems – business development 1Q 2Q 3Q 4Q 1Q-4Q 1Q-4Q in €m 2006/07 2006/07 2006/07 2006/07 2005/06 2006/07 yoy in % Revenue 522 493 524 517 1,818 2,056 + 13.1 EBIT 78 74 89 97 248 338 + 36.1 % of Revenue 14.9 15.1 17.0 18.7 13.6 16.4 Rails and switches Strong demand in Western E
Slide 11: Division Automotive – business development
Division Automotive – business development 1Q 2Q 3Q 4Q 1Q-4Q 1Q-4Q in €m 2006/07 2006/07 2006/07 2006/07 2005/06 2006/07 yoy in % Revenue 193 184 190 253 789 820 + 4.0 EBIT 11 7 10 14 39 42 + 10.1 % of Revenue 5.4 4.1 5.2 5.7 4.9 5.2 Increase of OEM production in Europe (+2.2%) Body parts Overall
Slide 12: Division Profilform – business development
Division Profilform – business development 1Q 2Q 3Q 4Q 1Q-4Q 1Q-4Q in €m 2006/07 2006/07 2006/07 2006/07 2005/06 2006/07 yoy in % Revenue 211 219 255 285 787 970 + 23.2 EBIT 28 33 39 46 88 146 + 64.8 % of Revenue 13.2 14.9 15.4 16.1 11.2 15.0 Special sections Strong demand all over Europe driven b
Slide 13: Financial overview
Financial overview voestalpine AG www.voestalpine.com
Slide 14: Consolidated overview
Consolidated overview FY 2005/06 FY 2006/07 Change in % Revenue €m 6,231 7,050 +13.1 EBITDA €m 1,079 1,365 +26.5 % of Revenue % 17.3 19.4 EBIT €m 724 1013 +39.9 % of Revenue % 11.6 14.4 EBT €m 674 977 +44.9 Net Profit €m 526 765 +45.4 EPS € 3.25 4.77** Investments* €m 566 906 +60.0 Depreciation €m 3
Slide 15: EBIT Development FY 2006/07 vs. FY 2005/06
EBIT Development FY 2006/07 vs. FY 2005/06 +16 €m +35 €m 1013 €m +68 €m +244 €m 724 €m -74 €m EBIT EBIT 11.6 % 14.4 % Raw Mix/ materials Price Volume Acquisitions Misc. FY 2005/06 FY 2006/07 22 % ROCE 26 % voestalpine AG 15 | June 2007 | Investor Relations
Slide 16: Cash flow FY 2006/07 vs. FY 2005/06
Cash flow FY 2006/07 vs. FY 2005/06 FY 2005/06 FY 2006/07 Cash flow from result €m 846 1119 Changes in working capital €m 14 -149 Cash flow from operating activities €m 860 970 Cash flow from investing activities €m -498 -606 Free Cash flow €m 362 364 voestalpine AG 16 | June 2007 | Investor Relatio
Slide 17: Gearing ratio
Gearing ratio 2.926 2.547 2.125 1.786 1.853 1.530 1.564 40% 47% 34% 32% 831 625 635 684 526 377 15% 18% 252 16% 2000/01 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 Net Debt (€m) Equity (€m) Gearing-Ratio (%) voestalpine AG 17 | June 2007 | Investor Relations
Slide 18: voestalpine group – Outlook
voestalpine group – Outlook Unchanged strong demand in all business units in the next months Favourable pricing environment in all 4 divisions till end 2007 expected Earnings dependency from commodity steel prices continuously reducing Strong niche position of steel division Ongoing downst
Slide 19: Böhler-Uddeholm
Böhler-Uddeholm voestalpine AG www.voestalpine.com
Slide 20: Global leadership in defined market segments
Global leadership in defined market segments Revenue EBITDA EBIT Pro-forma 2006/07 10.25 €bn 1.87 €bn 1.42 €bn Steel Böhler - Railway Automotive Profilform Uddeholm Systems Top European Worldwide Worldwide Top European European player leadership leadership player leadership European Top Worldwide Eu
Slide 21: Securing further value added growth
Securing further value added growth p.a. % 10.3 €bn : +25 06 /07 1/ 02- Revenue GR0 7.0 €bn CA 3.3 €bn 2001/02 2002/03 2003/04 2004/05 2005/06 2006/07 Pro-forma Steel Railway Systems Profilform Automotive Böhler-Uddeholm 2001/02 2006/07 pro forma Steel 60% 50% 47% Processing 40% 50% 53% EBIT 0.15 €b
Slide 22: IR Contact Peter Fleischer
Reuters IR Contact VOES.VI Peter Fleischer Bloomberg E-Mail peter.fleischer@voestalpine.com VOE AV Phone +43/50304/15-9949 voestalpine AG www.voestalpine.com