Amg Critical Materials N.v. · EURONEXT:AMG
Amg Critical Materials — AMG Advanced Metallurgical Group — Investor Presentation (June 2013)
25 slides from Amg Critical Materials's investor presentation, June 2013
Slide 1: Investor Presentation June 2013
Investor Presentation June 2013
Slide 2: Cautionary Note
Cautionary Note THIS DOCUMENT IS STRICTLY CONFIDENTIAL AND IS BEING PROVIDED TO YOU SOLELY FOR YOUR INFORMATION BY AMG ADVANCED METALLURGICAL GROUP N.V. (THE “COMPANY”) AND MAY NOT BE REPRODUCED IN ANY FORM OR FURTHER DISTRIBUTED TO ANY OTHER PERSON OR PUBLISHED, IN WHOLE OR IN PART, FOR ANY PURPOSE
Slide 3: Overview
Overview Listed: NYSE-Euronext Amsterdam: AMG Founded: 2006 LTM Revenues: $1,188.1M LTM EBITDA: $85.1M Employees: 3,275 Facilities: Netherlands, Germany, France, Czech Republic, Poland, UK, USA, Brazil, Mexico, China, India, Sri Lanka, Turkey, Zimbabwe, Mozambique Market cap: €187M ($247M) Shares ou
Slide 4: Business Units, Products and Markets
Business Units, Products and Markets AMG Processing AMG Mining AMG Engineering AMG’s conversion and Integrated AMG’s mine AMG’s vacuum systems recycling based businesses based businesses and services business High-value metals & alloys Critical raw materials Capital equipment & service
Slide 5: Critical Raw Materials
Critical Raw Materials The EU identified 14 critical raw materials* to the European economy – focusing on two determinants – economic importance and supply risk Materials mined or processed by AMG, or melted by AMG vacuum systems Highlighted materials melted REE by AMG vacuum systems Nb Sb C Ta Cr
Slide 6: Business Units (reporting segment) – AMG Processing
Business Units (reporting segment) – AMG Processing AMG Processing – conversion and recycling operations Value Proposition Key Products Major Applications Aluminum grain refiners and high-value master alloys for high performance materials in aerospace, automotive and infrastructure applications
Slide 7: Business Units (reporting segment) – AMG Mining
Business Units (reporting segment) – AMG Mining AMG Mining – mine based value chains Value Proposition Key Products Major Applications Antimony trioxide and master batches for flame retardant on electronics, paints, and plastics Conflict-free tantalum concentrate for tantalum capacitors used on
Slide 8: Business Units (reporting segment) – AMG Engineering
Business Units (reporting segment) – AMG Engineering AMG Engineering – vacuum systems and services Value Proposition Key Products Major Applications Vacuum melting and re-melting furnaces for high-performance titanium, steel and alloys, and purification of rare metals and alloys Vacuum heat trea
Slide 9: Recent Developments – Operations Update
Recent Developments – Operations Update AMG is focused on improving operational performance and increasing cash flow ■ Process begun in Q3 2012 with implementation of a clear and direct management structure ■ Instituting a number of operational improvement initiatives companywide Objective Progress
Slide 10: Financial Highlights
Financial Highlights 10
Slide 11: Financial Highlights
Financial Highlights Revenue Gross Profit LTM: $1,188.1 (in USD millions) LTM: $191.4 (in USD millions) $48.3 $296.5 $324.0 $53.4 $54.0 Down $319.6 Down $47.7 $296.9 $41.4 10% $275.2 8% YoY YoY - - - - - Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 Q1 12 Q2 12 Q3 12 Q4 12 Q1 13 EBITDA Adjusted EPS LTM: $85.1 (in U
Slide 12: Capital Base
Capital Base Cash and Debt Cash Debt ( in USD millions) ■ Net debt: $200.7 million ■ Debt to capitalization: 0.64x ■ Net Debt to LTM EBITDA: 2.34x ■ Revolver availability: $66.2 million ■ Total liquidity: $172.9 million $305.9 $309.9 $315.8 $307.4 $287.6 ■ AMG’s primary debt facility is a $377 $106.
Slide 13: Key Products
Key Products Revenue Gross Profit ( in USD millions) ( in USD millions) Q1 2013: $296.5 Q1 2013: $48.3 Q1 2012 Q1 2013 Q1 2012 Q1 2013 13
Slide 14: End Markets
End Markets Revenue Gross Profit ( in USD millions) ( in USD millions) Q1 2013: $296.5 Q1 2013: $48.3 Aerospace Aerospace 40.7% 46.6% Energy Energy Infrastructure 16.4% 17.1% 12.2% Infrastructure 8.5% Specialty Metals Specialty Metals & Chemicals & Chemicals 30.0% 28.5% Aerospace - 10% Aerospace + 1
Slide 15: AMG Processing
AMG Processing Financial Summary ■ Q1 ‘13 revenue down 8% from Q1 ‘12 $200.0 Revenue EBITDA ■ Coatings up 8% ( in USD millions) $180.0 $166.3 $160.0 $153.1 $21.0 ■ Chrome down 27% $140.0 $16.0 ■ Titanium Master Alloys down 17% $120.0 $12.6 $100.0 ■ Q1 ‘13 gross margin 13% of revenue, $8.7 $80.0 decr
Slide 16: AMG Mining
AMG Mining Financial Summary Q1 ‘13 revenue down 8% from Q1 ‘12 Revenue EBITDA ( in USD millions) $100.0 Tantalum up 3% $89.6 $82.9 Natural graphite up 16% $80.0 Antimony down 21% $11.0 $60.0 $7.9 $5.9 Q1 ‘13 gross margin 16% of revenue, $40.0 $6.0 improved from 15% in Q1 ‘12 $20.0 Subst
Slide 17: AMG Engineering
AMG Engineering Financial Summary Q1 ‘13 revenue down 11% from Q1 ‘12 $80.0 Revenue EBITDA ( in USD millions) $70.0 $68.0 Casting and sintering furnaces up 74% $60.5 Heat Treatment furnaces down 61% $60.0 $50.0 Remelting furnaces down 34% $5.6 $6.0 $40.0 Q1 ‘13 gross margin 25% of revenue,
Slide 18: Outlook
Outlook
Slide 19: Outlook
Outlook AMG Processing AMG Mining AMG Engineering Aerospace alloys demand is Improved margins through Improved margins through stable in mid-term cost reductions cost reductions AMG Vanadium continues to Long-term tantalum supply Order intake, backlog, and ramp up the expanded facility c
Slide 20: Appendix
Appendix 20
Slide 21: Consolidated Balance Sheet
Consolidated Balance Sheet Balance Sheet ($’000) Actual As of 31-December-12* 31-March-13 (restated) Fixed assets 288.3 281.8 Goodwill and intangibles 38.7 39.2 Other non-current assets 79.7 75.8 Inventories 211.5 205.4 Receivables 177.2 187.2 Other current assets 33.8 35.5 Cash 121.6 106.7 TOTAL AS
Slide 22: Consolidated Income Statement
Consolidated Income Statement Income Statement ($’000) Actual For the three months ended 31-March-12 31-March-13 (restated) Revenue 323,984 296,478 Cost of sales 270,547 248,220 Gross profit 53,437 48,258 Selling, general & admin. 38,971 36,017 Asset impairment & restructuring 2,843 1,336 Environmen
Slide 23: Consolidated Statement of Cash Flows
Consolidated Statement of Cash Flows Cash Flow Statement ($’000) Actual For the year ended 31-March-12 31-March-13 (restated) EBITDA 22,002 22,232 +/- Change in operating assets/liabilities (18,745) (9,242) -Interest paid, net (3,106) (2,192) Other operating cash flow 21 (3,777) Cash flows from oper
Slide 24: AMG Global Locations
AMG Global Locations area enlarged above Offices 24
Slide 25: Slide 25
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