ENCE Energia y Celulosa SA · BME:ENC

ENCE Energia y Celulosa SA — 9M12 Earnings Presentation

11 slides from ENCE Energia y Celulosa SA's earnings presentation, Nov 6, 2012

  1. Slide 1: Ence, Energía y Celulosa 3Q12 Results

    Ence, Energía y Celulosa 3Q12 Results November 6th, 2012 1

  2. Slide 2: 9M12 Results

    9M12 Results 2 … the strong production and sales growth of pulp and electricity … In line Solid with operating 2012 1 targets results 3 … the decreasing trend in cash cost to in 9M12 reach €341/t … based on… 4 … and the maintenance of financial strength in terms of debt and liquidity … with positive

  3. Slide 3: Strong 9M12 results based on …

    1 Strong 9M12 results based on … Breakdown of 9M12 P&L (M€) 19 148 437 585 603 437 59 43 29 475 26 128 128 103 103 43 59 16 14 29 Pulp Energy Forestry Total Sales Cost EBITDA (adj) Non EBITDA Depreciation EBIT Interest Taxes Net profit recurrent and provisions  +2% growth in pulp sales in tonnes ha

  4. Slide 4: … the positive operational performance of pulp production …

    2 … the positive operational performance of pulp production … Pulp production (t) Production per plant (tons) +3% +7% +1% -3% -1% 944,868 359,995 337,585 308,472 306,581 928,097 269,321 261,522 915,378 9M11 9M12 9M12 normalized  The company keeps confident that it 9M11 9M12 9M11 9M12 9M11 9M12 will

  5. Slide 5: … and electricity generation

    2 … and electricity generation Energy metrics Electricity sales (€M) +5% +8% 1,161,061 128 +11% 1,106,795 118 148 9M11 9M12 9M11 9M12 134 Electricity sales (MWh) Average price (€/MWh) 126 128 129 124 127 116 109 113 108 102 9M11 9M12 101  Increased production of electricity linked to the production

  6. Slide 6: Strong cash cost reduction through increases in pulp production and electricity

    3 Strong cash cost reduction through increases in pulp production and electricity as well as reducing wood and fixed costs... 375 Evolution of cash cost (€/t) 370 18.3 365 360 355 12.8 2.5 350 371 345 1.8 2.8 340 335 17.3 1.0 341 1.2 330 Cash Cost 9M11 Wood cost Chemical & Energy sales Energy cost F

  7. Slide 7: … consolidating the financial strength of the company

    4 … consolidating the financial strengh of the company Breakdown of operating cash flow after Net financial debt (€M) and leverage investments in pulp (€M) 189 1.3x 1.2x 2 152 24.9 15.2 4.9 103 103 80 65 59 59 EBITDA 9M12 Change in Pulp Interest Other Operating working investment expenses cash flow

  8. Slide 8: Strong outlook in 2012, with market prices showing an upward trend since December

    5 Strong outlook in 2012, with market prices showing an upward trend since December 55 Inventories in days Evolution of pulp prices ($/t) 50 45 868 847 40 816 772 780 766 35 703 30 684 25 20 15 Sep-01 Sep-02 Sep-03 Sep-04 Sep-05 Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Mar-02 Mar-03 Mar-04 M

  9. Slide 9: Conclusion

    Conclusion Solid Tangible mid term operating Good outlook for 2012 cash flow results results opportunities in 9M12 Strong sales growth of pulp Production growth close to +2% From “forestry owner” to and electricity (2% and 5% in volume) in 2012 “forestry manager” allowing divestments for a total of

  10. Slide 10: Disclaimer

    Disclaimer This presentation contains statements that constitute forward looking statements in its general meaning and within the meaning of the Private Securities Litigation Reform Act of 1995. These statements appear in a number of places in this document and include statements regarding the inten

  11. Slide 11: Ence, Energía y Celulosa 3Q12 Results

    Ence, Energía y Celulosa 3Q12 Results November 6th, 2012 11

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