Eucatex S.a. Industria E Comercio · BMFBOVESPA:EUCA3
Eucatex S.a. Industria E Comercio — Q4 2013 Earnings Presentation
17 slides from Eucatex S.a. Industria E Comercio's earnings presentation, Feb 20, 2014
Slide 1: 4Q13 Results
4Q13 Results February 20, 2014
Slide 2: 4Q13 General Highlights
Eucatex Group 4Q13 General Highlights Net Revenue – R$ 293.1 million, up 10.7% Recurring EBITDA – R$ 56.7 million, up 10.7% EBITDA Margin – 19.4%, stable. Recurring Net Income – R$ 24.6 million, up 73.2% 2
Slide 3: Eucatex Group
Eucatex Group Founded in 1951 Segments: Furniture, Retail, Construction and Exports Subsidiary in Atlanta, USA 76 eucalyptus farms totaling 46,000 hectares Number of employees – 2,490 Products and Annual Unit Location Employees Coating Capacity Capacity Fiberboard Paint 240,000 m³ 80 million m² FIBE
Slide 4: Operating Data – Net Revenue
Operating Data – Net Revenue By Product By Segment Other Export 3% MDP Market 23% Retail 7% Paint 11% Furniture Segment Industry 22% 40% T- HDF/MDF Laminated 20% Flooring Construction 13% Fiberboard 42% 19% 4
Slide 5: Construction
Construction Brazilian Construction Materials Industry Association (ABRAMAT) Outlook for 2014 Growth of 4.5% in 2014. Growth above GDP; Upturn in real estate market; 73% of companies in the sector will maintain their investment plans until year-end 2014; and Indicators remain positive: Rea
Slide 6: Real Estate Market
Real Estate Market Minha Casa Minha Vida Housing Program Target of 3.75 million homes by 2014 3.750 million 3.240 Household income of up to R$ 5,000.00 million 3.2 million homes contracted – 86% of target achieved 3.240 million 1.5 million homes delivered – 47% of contracted homes Target 86%
Slide 7: Furniture Industry
Furniture Industry Effective Installed Capacity (Fiberboard + MDF + MDP) X Production 9,377 8,787 8,386 7,969 6,382 6,560 6,042 83% 84% 5,100 5,300 81% 77% 82% 82% 81% 84% 78% 2005 2006 2007 2008 2009 2010 2011 2012 2013 Effective installed capacity ('000 m³) Production GDP Estimate (Tendências Cons
Slide 8: Minha Casa Melhor Program
Minha Casa Melhor Program CURRENT LIST Launched in June 2013 – After revision in October 2013 Target: 3.75 million families MAX. RETAIL FURNITURE Credit card with limit of R$ 5,000.00 for Purchases of PRICE Furniture and Home Appliances Wardrobe R$ 700.00 Potential Financed Volume – R$ 18.7
Slide 9: Wood Segment
Wood Segment Laminated Flooring Net Revenue 17% MDP 30% 4Q12 4Q13 Var Fiberboard R$ 202.3 million R$ 218.2 million 7.9% 26% T-HDF/MDF 27% 139 138 130 120 118 Total Market ('000 m³) 114 110 106 108 7,565.0 104 7,144.8 100 100 2,018.1 1,849.2 1T06 1T07 1T08 1T09 1T10 1T11 4Q12 4Q13 2012 2013 Eucatex M
Slide 10: Wood Segment
Wood Segment Installed Capacity Utilization – 4Q13 11% 12% 81% 84% 81% 59% 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 – 4Q13 All Panels Resin Panels Non-Resin Panels (Fiberboard) Thermal Therma
Slide 11: Paint Segment
Paint Segment Market – million liters 304.6 306.0 Net Revenue 4Q12 4Q13 Var R$ 55.4 million R$ 65.7 million 18.8% 4Q12 4Q13 Source: Eucatex Market Installed Capacity Utilization Breakdown of Costs – 4Q13 Labor 6% Electricity 0% Other Costs 2% Depreciation Packaging 1% 15% 65% 4Q13 Total Capacity –
Slide 12: Financial Data
Financial Data Net Revenue / Employee (R$) SG&A (R$ million) and SG&A / Net Revenue (%) Gross Income (R$ million) and Gross Margin (%) EBITDA (R$ million) and EBITDA Margin (%) 12
Slide 13: Financial Data
Financial Data Highlights (R$ million) 4Q13 V.A. % 4Q12 V.A % Var. (%) 2013 V.A. % 2012 V.A. % Var. (%) Net Revenue 293.1 100.0% 264.8 100.0% 10.7% 1,118.3 100.0% 963.5 100.0% 16.1% Fair value of biological assets 16.2 5.5% 9.9 3.7% 63.7% 49.1 4.4% 41.8 4.3% 17.5% Cost of goods sold (207.2) -70.7% (
Slide 14: Debt
Debt Debt (R$ Million) 2013 2012 Var. (%) Short Term Debt 121.1 147.1 -17.7% Long Term Debt 182.7 126.9 44.0% Gross Debt 303.8 274.0 10.9% Cash and Cash Equivalents 20.7 6.9 200.5% Net Debt 283.1 267.1 6.0% % Short Term Debt 40% 54% -13.8 p.p. Net Cash (Debt)/EBITDA 1.2 1.4 -15.0% Net Debt / EBITDA
Slide 15: Capex
Capex R$ 108.7 million R$ 100.7 million Actual 2013 Forecast 2014 Panel Factories 55,1230 55.1 46,5220 46.5 Paints 2,6870 2.7 5,00 5.0 Forest 50,8630 50.9 48,2070 48.2 Other - ,00 1,00 1.0 15
Slide 16: Sustainability – Forests and Recycling
Sustainability – Forests and Recycling 76 farms with Average Radius Total Processing Capacity - Recycling eucalyptus Equivalent to Plantations, Salto Botucatu Ton/Year Trees Forests totaling 46,000 168 km 41 Km 240,000 ton 2 million / year 1,500 hectares hectares Volume Processed (ton) - Recycling N
Slide 17: IR Contacts
IR Contacts José Antonio G. de Carvalho Executive VP and IRO Waneska Bandeira Investor Relations (55 11) 3049-2473 ri@eucatex.com.br www.eucatex.com.br/ri
Eucatex S.A. Indústria e Comércio — Q4 2013 Earnings Presentation on 6ix