Mayr-Melnhof Karton AG · VIE:MMK
Mayr-Melnhof Karton — FY2015 Earnings Presentation
29 slides from Mayr-Melnhof Karton's earnings presentation, Mar 15, 2016
Slide 1: Annual Results 2015
MAYR-MELNHOF GROUP Annual Results 2015 March 15, 2016
Slide 2: Market Position
Market Position MM KARTON Worldwide largest producer of coated recycled fiber based board with important position in virgin fiber based board MM PACKAGING Europe‘s largest folding carton producer with leading market position in several countries outside Europe 2
Slide 3: 45 Production Sites
45 Production Sites - 45 Plants - in 18 Countries - on 4 Continents ~ 10,000 Employees 3
Slide 4: Highlights 2015
Highlights 2015 • Continuation of long term success course • Growth in sales and profit – new record year • Increased poductivity and volumes in both divisions • Market-entry pharmaceutical and luxury packaging – Acquisition France • Dividend increase to EUR 2.80 / share (after EUR 2.60 for 2014) 4
Slide 5: Group Results
Group Results consolidated in millions of EUR, IFRS 2015 2014 +/- Sales 2,181.5 2,087.4 +4.5 % Operating profit 199.9 180.2 +10.9 % Operating margin (in %) 9.2 % 8.6 % Profit before tax 190.6 171.0 +11.5 % Income tax expense (48.5) (39.4) Profit for the year 142.1 131.6 +8.0 % Net profit margin (in
Slide 6: Sales by Destination
Sales by Destination Western Europe 58.4 % Eastern Europe 26.5 % Latin America 5.5 % Other Asia 4.3 % 5.3 % 7
Slide 7: Consolidated Balance Sheet
Consolidated Balance Sheet consolidated in millions of EUR, IFRS Dec. 31, 2015 Dec. 31, 2014 Non-current assets 928.1 826.3 Current assets 972.2 960.7 Total assets 1,900.3 1,787.0 Equity 1,144.2 1,102.2 Liabilities 756.1 684.8 Total equity and liabilities 1,900.3 1,787.0 Total funds available to the
Slide 8: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement consolidated in millions of EUR, IFRS 2015 2014 Cash flow from operating activities 206.7 165.8 Cash flow from investing activities (198.0) (122.3) Cash flow from financing activities (70.6) (18.8) Cash and cash equivalents beg. of the period 320.1 297.9 Net change i
Slide 9: Group Results 2015
Group Results 2015 KARTON AG
Slide 10: Dividend Development
Dividend Development 5.00 4.50 Anniversary Bonus 2,40 4.00 3.50 3.00 2.80 2.60 2.50 2.40 2.25 2,10 1.95 1.60 Interim Dividend, 1.20 proposed 2.00 1.70 1.70 1.70 Bonus 0,75 1.50 1.40 1,20 1.30 1.10 1.00 1.00 0.78 0.83 0.90 0.62 0.73 0.50 0.00 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 200
Slide 11: Mayr-Melnhof Karton
Mayr-Melnhof Karton KARTON AG af
Slide 12: MMK - Volume sold
MMK - Volume sold in million tons 1.7 m tons 12
Slide 13: MM Karton
MM Karton - Worldwide leading recycled board producer - 80% recycling-, 20% virgin fiber board - 7 mills / 9 board machines - Focus: packaging for consumer goods - Sales in approx.100 countries - Employees: 2,546 MM Karton, 7 Mills MMK FollaCell MM Karton, 26 Sales Offices 13
Slide 14: MMK Overview 2015
MMK Overview 2015 • So far best results • Capacity utilization 98 % (2014: 97 %) • High flexibility in production, improved product portfolio • Prices maintained • Productivity increased 14
Slide 15: MMK - Results 2015
MMK - Results 2015 in millions of EUR, IFRS 2015 2014 +/- Sales1) 1,046.7 1,002.8 +4.4 % Operating profit 82.6 74.7 +10.6 % Operating margin (in %) 7.9 % 7.4 % Tonnage sold (in thousands of tons) 1,660 1,586 +4.7 % Tonnage produced (in thousands of tons) 1,677 1,585 +5.8 % Employees 2,546 2,5602) In
Slide 16: MMK - Start 2016
MMK - Start 2016 • Year started as expected • Mills well utilized 16
Slide 17: Mayr-Melnhof Packaging
Mayr-Melnhof Packaging KARTON AG
Slide 18: Shaping the World of Cartons
„Shaping the World of Cartons“ - ~ 60 bn. cartons / year - 38 sites in 16 countries - Core market: Europe + Emerging markets - ~ 75% multinational customers - Volume business + High-end-packaging - Employees: 7,392
Slide 19: MMP - Markets
MMP - Markets FMCG TOBACCO DETERGENTS PERSONAL CARE / PHARMA CONFECTIONERY PREMIUM 19
Slide 20: MMP - Overview 2015
MMP - Overview 2015 • Growth and solid profitability • High plant utilization • Further productivity improvements 20
Slide 21: MMP Tonnage converted
MMP Tonnage converted in thousands of tons 729.000 tons 21
Slide 22: MMP - Results 2015
MMP- Results 2015 in millions of EUR, IFRS 2015 2014 +/- Sales1) 1,237.3 1,187.7 +4.2 % Operating profit 117.3 105.5 +11.2 % Operating margin (in %) 9.5 % 8.9 % Tonnage processed (in thousands of tons) 729 702 +3.8 % Sheet equivalent (in millions) 2,059.3 1,996.6 +3.1 % Employees 7,392 6,8392) Inves
Slide 23: MMP - Acquisition France
MMP - Acquisition France Sales approx. 120 EUR m 6 sites Pharma Luxury
Slide 24: MMP - Start 2016
MMP - Start 2016 • Plants currently well booked • For 2016 well prepared 24
Slide 25: Outlook 2016
Outlook 2016 • Flat economy • High competition intensity • Continue long term course in both divisions • Productivity increases – organic growth • Continuous investment activity – Reduction of direct costs – Expansion MMP sites Iran, Vietnam, Poland – Replacement of powerstation in Frohnleiten mill
Slide 26: Appendix
Appendix KARTON AG 26
Slide 27: MM Group - Quarterly Overview
MM Group - Quarterly Overview consolidated in millions of EUR, IFRS 4Q/2014 1Q/2015 2Q/2015 3Q/2015 4Q/2015 Sales 516.4 533.9 535.7 548.1 563.8 EBITDA 67.0 74.0 70.1 81.4 73.2 EBITDA margin (in %) 13.0 % 13.9 % 13.1 % 14.9 % 13.0 % Operating profit 43.7 50.8 45.7 58.1 45.3 Operating margin (in %) 8.
Slide 28: MMK - Quarterly Overview
MMK - Quarterly Overview in millions of EUR, IFRS 4Q/2014 1Q/2015 2Q/2015 3Q/2015 4Q/2015 1) Sales 234.9 258.9 263.5 265.0 259.3 Operating profit 15.8 18.6 22.3 25.5 16.2 Operating margin (in %) 6.7 % 7.2 % 8.5 % 9.6 % 6.2 % Tonnage sold (in thousands of tons) 368 421 413 418 408 Tonnage produced (i
Slide 29: MMP - Quarterly Overview
MMP - Quartely Overview in millions of EUR, IFRS 4Q/2014 1Q/2015 2Q/2015 3Q/2015 4Q/2015 1) Sales 305.7 300.7 297.5 309.7 329.4 Operating profit 27.9 32.2 23.4 32.6 29.1 Operating margin (in %) 9.1 % 10.7 % 7.9 % 10.5 % 8.8 % Tonnage processed (in thousands of tons) 172 182 176 187 184 Sheet equival