Sonae Indústria S.G.P.S — Sonae Indústria — Q1 2013 Earnings Presentation
14 slides from Sonae Indústria S.G.P.S's earnings presentation, May 9, 2013
Slide 1: Investors and Analysts Conference Call - 1Q13 Results
INVESTORS AND ANALYSTS CONFERENCE CALL - 1Q13 RESULTS - May 9 2013
Slide 2: Consolidated Operational Review
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW • 1Q13 consolidated turnover totalled 318 million Euros, 10% lower than 1Q12. Recurrent EBITDA is 20 million Euros which resulted in a recurrent EBITDA margin of 6.3% (in percentage of Turnover). This deterioration in margin
Slide 3: Consolidated Operational Review: Volumes, Prices and Costs
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Quarterly Volumes Sold Millions of m 3 • Compared to 1Q12, volumes were down 1.39 1.42 1.32 1.40 1.34 1.27 1.20 1.22 1.22 13%, driven by our Central European markets, as volumes in the Rest of the World improved. 1Q11 2Q11 3Q
Slide 4: Operational Review | Southern Europe
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL OPERATIONAL REVIEW | SOUTHERN EUROPE Comparing 1Q13 performance with 1Q12: • Turnover and sales volumes reduced by 11%, driven mostly by the Iberian operations which reduced volumes sold by 14%, but also by France which reduced volumes sold by 6%. • The str
Slide 5: Operational Review | Northern Europe
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL OPERATIONAL REVIEW | NORTHERN EUROPE Comparing 1Q13 performance with 1Q12: • Volumes sold decreased by 11%, which combined with lower prices in some segments, resulted in a 16% reduction in turnover. • The above combined effects together with 3% higher vari
Slide 6: Operational Review | Rest of the World
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL OPERATIONAL REVIEW | REST OF THE WORLD Comparing 1Q13 performance with 1Q12: • Volumes sold from plants located in the RoW region increased by 3% in 1Q13, when compared to 1Q12. • RoW Recurrent EBITDA margin increased to 15%, driven by recoveries in our mai
Slide 7: Operational Review: Variable Costs
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Variable Costs QUARTERLY AVERAGE COSTS (eur/m3) BASE 100:1Q10 1.4 • Average variable costs moved up 1% 1.3 from 4Q12 to 1Q13 1.2 • Compared to 4Q12, higher wood 1.1 prices prevailed in Europe and we 1.0 witness a global upwar
Slide 8: Volumes Sold & Capacity Utilisation
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Volumes Sold & Capacity Utilisation 1Q09: closure of 4Q09: closure of • PB Line in Coleraine (UK) Kaisersesch plant (Germany) • George plant (S.A.) 4Q12: closure of Solsona 2Q10: Sale of plant (Spain) 3Q09: Sale of Lure plant
Slide 9: Managing for Cash
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL CONSOLIDATED OPERATIONAL REVIEW Managing for Cash • We continue to focus on cash management with strict controls over new investments and a rigorous working capital management. WORKING CAPITAL: 1Q10 - 1Q13 € Mn • WORKING CAPITAL was 13 million Euros 200 bel
Slide 10: Financial Review | Net Debt
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL FINANCIAL REVIEW | NET DEBT • Comparing to 4Q12, Net Debt increased by 30 million EUR and is mainly the result of an increase in Working Capital NET DEBT ND / REC. EBITDA 950 25 Net Debt 900 ND/Rec.Ebitda 20 850 15 800 10 750 8x 5 700 695 650 0 1Q'09 2Q'09
Slide 11: Financial Review | Refinancing
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL FINANCIAL REVIEW | REFINANCING • As part of the defined financing strategy, we have been negotiating the refinancing of most of the 2013 debt maturities, seeking to extend the average life of our credit facilities SCHEDULED LOAN REPAYMENTS* (as of 31st Marc
Slide 12: Looking Forward
.. today, tomorrow, let’s be better together! LOOKING FORWARD
Slide 13: Looking Forward
SONAE INDÚSTRIA: EA 1Q13 – CONFERENCE CALL LOOKING FORWARD • For the coming quarter, we continue to expect adverse conditions in private and public consumption, mainly in the Eurozone markets. We expect to partly mitigate this market conditions by continuously looking for export opportunities. • Nev
Slide 14: Thank You - Questions?
THANK YOU QUESTIONS? (>) sonae INDUSTRIA