Sonae Indústria S.G.P.S — Sonae Indústria — FY2011 Earnings Presentation
14 slides from Sonae Indústria S.G.P.S's earnings presentation, Feb 29, 2012
Slide 1: Investors and Analysts Conference Call FY11 Results
INVESTORS AND ANALYSTS CONFERENCE CALL FY11 RESULTS 29th February 2012
Slide 2: Consolidated Operational Review
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Consolidated turnover in FY11 reached 1,364 million Euros, 6 % above FY10 Recurrent EBITDA margin recovered 2.4pp from FY10 to FY11, reaching 108 million Euros, 7.9% of Turnover (when compared with 5,5% in FY10) € Mn Cons
Slide 3: Consolidated Operational Review: Volumes, Prices and Costs
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Volumes Sold Millions of m3 Volumes Sold Millions of m3 Volumes sold have been increasing in 2,00 1,80 +1% 5,39 all countries except 1,60 1,41 1,39 1,39 1,42 1,32 1,40 1,24 1,29 1,27 UK (due to the fire) 1,20 1,00 5,34 and
Slide 4: Operational Review Iberia
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL OPERATIONAL REVIEW IBERIA In Iberia, during FY11 when compared with FY10: Turnover increased by 5% and volumes sold by 1% Average variable costs are 8% above Recurrent EBITDA Margin increased slightly to 7.5% € Mn € Mn 150 TURNOVER & RECURRENT EBITD
Slide 5: Operational Review Central Europe: Germany, France and the UK
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL OPERATIONAL REVIEW CENTRAL EUROPE: Germany, France and the UK In during FY11 when compared with FY10: Turnover increased by 10% and volumes sold by 1% Despite higher variable costs, Recurrent EBITDA Margin moved 5pp up, illustrating the effectiveness
Slide 6: Operational Review Rest of the World: Canada and S.A.
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL OPERATIONAL REVIEW REST OF THE WORLD: Canada and S.A. In RoW region, when comparing FY11 with FY10: Turnover and volumes sold increased by 1%, despite the lower activity in Canada which was compensated by the stronger sales volumes in S.A. Recurrent E
Slide 7: Variable Costs Evolution
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Variable costs Evolution Variable costs increased during Consolidated Quarterly average costs (Eur/m3) Base 100 - 1Q10 NWE ICIS Methanol Prices - 2010_2011 2011, mainly due to urea price 550 1,4500 increases. Urea represent
Slide 8: Volumes Sold and Capacity Utilization
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW VOLUMES SOLD AND CAPACITY UTILIZATION 1Q09: closure of • PB Line in Coleraine Capacity utilization in FY11 is 1Q10: closure of (UK) 3Q09: Sale of Duisburg plant 5pp higher when compared to • George plant (S.A.) Brazil (Germ
Slide 9: Managing for Cash
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW MANAGING FOR CASH WORKING CAPITAL decreased by 34 million Euros in 4Q11, due to the reduction of trade receivables INVESTMENTS continue to be closely monitored Additional Fixed Assets Million Euros 40 WORKING CAPITAL: 200
Slide 10: Financial Review: Net Debt / EBITDA
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL FINANCIAL REVIEW Net Debt / Ebitda The Net Debt to Recurrent EBITDA ratio for the last 12 months is 6.6x, which is down from 10.1x, one year ago. This is the 9th consecutive quarter of a strong positive trend in the last 12 months of Recurrent EBITDA. N
Slide 11: Financial Review: Refinancing
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL FINANCIAL REVIEW Refinancing According to our estimates, our refinancing needs are assured until 4Q12. We continue working in alternatives to refinance those needs well in advance. SCHEDULED LOAN REPAYMENTS* (as of 31st December 2011) 140 Refinancing 120
Slide 12: Looking Forward
.. today, tomorrow, let’s be better together! LOOKING FORWARD
Slide 13: Looking Forward
SONAE INDÚSTRIA: EA_FY11 – CONFERENCE CALL Looking Forward For 2012, we expect our EBITDA margins to further improve, based on higher operational efficiencies, and a stronger customer focus supported by a more integrated and reliable offer and a better balance between supply and demand in most mar
Slide 14: Thank You Questions?
THANK YOU QUESTIONS? eS SONAE INDUSTRIA