Sonae Indústria S.G.P.S — H1 2008 Earnings Presentation
16 slides from Sonae Indústria S.G.P.S's earnings presentation, September 2008
Slide 1: Highlights of 1H 2008 Results
Highlights of Highlights of 1H 2008 Results 1H2008 Results September 2008 1
Slide 2: 1H 2008 Highlights
Highlights of 1H 2008 Results SONAE INDÚSTRIA 1H 2008 HIGHLIGHTS Since the middle of 2007, we have been facing a cyclical downturn in our business due to a combination of: Subdued demand; High input costs (particularly resins); Inability to raise prices. Given this business environment, we are imple
Slide 3: Consolidated Operational Review
Highlights of 1H 2008 Results SONAE INDÚSTRIA Consolidated Operational Review During the 2Q 2008, our variable costs did not decrease as much as expected, since the urea price increase partially offset the methanol price decrease. Despite having such high raw material costs, market conditions preven
Slide 4: Consolidated Operational Review
Highlights of 1H 2008 Results SONAE INDÚSTRIA Consolidated Operational Review In 2Q 2008, despite the payment of €39.2 million in dividends, net debt decreased by 37 million euros due to: final settlement under the insurance claim for the accident in Canada of 51.8 million euros a significant 37 mil
Slide 5: Consolidated Operational Review
Highlights of 1H 2008 Results SONAE INDÚSTRIA Consolidated Operational Review When compared to 1H07: Consolidated Turnover decreased by 10% to 965 million euros; Recurrent EBITDA decreased to 79 million euros, representing a decrease of 49% and an EBITDA margin of 8.2%. TOTAL EBITDA in 1H08 was 126
Slide 6: Consolidated Operational Review
Highlights of 1H 2008 Results SONAE INDÚSTRIA Consolidated Operational Review Our quarterly evolution in profitability: TURNOVER & RECURRENT EBITDA Millions of Euros TURNOVER & RECURRENT EBITDA TURNOVER & RECURRENT EBITDA Millions of Millions of IBERIA CENTRAL EUROPE REST OF THE WORLD Euros Euros 65
Slide 7: Consolidated Operational Review: Iberia
Highlights of 1H 2008 Results SONAE INDÚSTRIA Consolidated Operational Review IBERIA Further slowdown in economic environment in Spain is evident as: Unemployment is increasing and domestic demand is contracting; New Housing Permits declined by 57% (YTD May 2008 vs. May 2007); 1) GDP growth is expec
Slide 8: Consolidated Operational Review: Central Europe
Highlights of 1H 2008 Results SONAE INDÚSTRIA Consolidated Operational Review CENTRAL EUROPE (Germany, France and the UK) In Germany GDP growth this year is forecasted to be 2% compared to 2.5% in 2007 3). Inflation rate is increasing, leading to weaker private consumption. Our sales volumes decreas
Slide 9: Consolidated Operational Review: Central Europe (cont.)
Highlights of 1H 2008 Results SONAE INDÚSTRIA Consolidated Operational Review CENTRAL EUROPE (cont.) In France, we are also suffering from a very negative market situation: housing starts declined by 20% (YTD 1H 2008 vs. YTD 1H 2007) 4); we have scaled back production to maintain low stock levels an
Slide 10: Consolidated Operational Review: Rest of the World
Highlights of 1H 2008 Results SONAE INDÚSTRIA Consolidated Operational Review REST OF THE WORLD (Canada, Brazil and South Africa) Our performance in RoW reflects mixed trends: In Brazil, GDP continues to grow but interest rates have begun to increase; volumes slightly decreased when compared to 1H 2
Slide 11: Consolidated Financial Review
Highlights of 1H 2008 Results SONAE INDÚSTRIA Consolidated Financial Review In 1H 2008 we achieved the following results: Total EBITDA decreased by 18% to 126 million euros; Consolidated Net Results Attributable to Sonae Indústria Shareholders amounted to 6 million euros, down from 45 million euros
Slide 12: 1H 2008 Highlights: Refinanced Debt
Highlights of 1H 2008 Results SONAE INDÚSTRIA 1H 2008 HIGHLIGHTS Refinanced debt: Since December 2007 we have raised €300 million of DEBT M ATURITY debt to refinance €250 300 290 280 million of bonds and 270 260 250 240 242 finance the acquisition of 230 220 210 200 Masisa’s stake in Tafisa 190 180
Slide 13: 1H 2008 Highlights: Healthy Balance Sheet
Highlights of 1H 2008 Results SONAE INDÚSTRIA 1H 2008 HIGHLIGHTS Healthy Balance Sheet: BALANCE SHEET (MILLIONS OF EUROS) 2007 1Q08 1H08 NON CURRENT ASSETS 1.517 1.458 1.467 CURRENT ASSETS 651 739 694 TOTAL ASSETS 2.168 2.196 2.161 SHAREHOLDERS’ FUNDS + MINORITY INTERESTS 629 618 587 ST FINANCIAL DE
Slide 14: Looking Forward
Highlights of 1H 2008 Results LOOKING FORWARD 14
Slide 15: Looking Forward
Highlights of 1H 2008 Results SONAE INDÚSTRIA Looking Forward We have been preparing ourselves for challenging times as better market conditions are not expected for the near future Further increases in variable costs may occur (due to the urea price increase) We will continue adapting our fixed cos
Slide 16: Highlights of 1H 2008 Results
Highlights of 1H 2008 Results 16
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