Mayr-Melnhof Karton AG · VIE:MMK
Mayr-Melnhof Karton — Q3 2014 Earnings Presentation
20 slides from Mayr-Melnhof Karton's earnings presentation, Nov 13, 2014
Slide 1: 1st – 3rd Quarter Results 2014
MAYR-MELNHOF GROUP 1st – 3rd Quarter Results 2014 November 13, 2014
Slide 2: Market Position
Market Position MM KARTON World‘s largest producer of recycled fiber based cartonboard with a rising position in virgin fiber based board MM PACKAGING Leading European folding carton producer with growing presence outside of Europe 2
Slide 3: 41 Production Sites
41 Production Sites - 41 Plants - in 20 Countries - on 4 Continents 9,532 Employees MM Karton, 7 Mills MMK FollaCell MM Packaging, 34 Plants 3
Slide 4: Headlines 1st - 3rd Quarter 2014
Headlines 1st - 3rd Quarter 2014 • Growth in sales and profit • Solid volume development • Increasingly restrained demand 4
Slide 5: Group Results 1st – 3rd Quarter 2014
Group Results 1st – 3rd Quarter 2014 consolidated in millions of EUR, IFRS 1-3Q/2014 1-3Q/2013 +/- Sales 1,571.0 1,497.1 +4.9 % Operating profit 136.5 130.2 +4.8 % Operating margin (in %) 8.7 % 8.7 % Profit before tax 131.5 122.2 +7.6 % Income tax expense (34.0) (29.4) Profit for the period 97.5 92.
Slide 6: MM Group – Quarterly Overview
MM Group – Quarterly Overview 600 Datenreihen1 Datenreihen2 14% 500 12% 400 10% 8% 300 6% 200 4% 100 2% in millions of EUR - 0% Sales Operating Margin 6
Slide 7: Sales by Destination
Sales by Destination Westeuropa Western Europe 58.7 % Osteuropa Eastern Europe 26.0 % Asia 5.7 % Sonstige Other Latin America Asien 4.5 % 5.1 % 7
Slide 8: Consolidated Balance Sheet
Consolidated Balance Sheet consolidated in millions of EUR, IFRS Sep. 30, 2014 Dec. 31, 2013 Non-current assets 812.3 791.3 Current assets 863.6 911.2 Total assets 1,675.9 1,702.5 Equity 1,092.8 1,111.8 Liabilities 583.1 590.7 Total equity and liabilities 1,675.9 1,702.5 Total funds available to the
Slide 9: Mayr-Melnhof Karton
Mayr-Melnhof Karton
Slide 10: MM Karton Overview 1st – 3rd Quarter 2014
MM Karton Overview 1st – 3rd Quarter 2014 • Continuous short-term visibility • Capacity utilization 1-3Q 2014: 98% (1-3Q 2013: 99%) • Extended product mix (inclusion pulp mill MMK FollaCell) and optimized prices • Stability on raw materials markets, lower energy prices • Rise in sales and earnings 1
Slide 11: MMK Results 1st – 3rd Quarter 2014
MMK Results 1st – 3rd Quarter 2014 in millions of EUR, IFRS 1-3Q/2014 1-3Q/2013 +/- Sales 767.9 726.2 +5.7 % Operating profit 58.9 52.6 +12.0 % Operating margin (in %) 7.7 % 7.2 % Tonnage sold (in thousands of tons) 1,218 1,213 +0.4 % Tonnage produced (in thousands of tons) 1,213 1,212 +0.1 % Employ
Slide 12: MMK – Quarterly Overview
MMK – Quarterly Overview in millions of EUR, IFRS 1Q/2013 2Q/2013 3Q/2013 4Q/2013 1Q/2014 2Q/2014 3Q/2014 Sales 237.6 239.1 249.5 238.4 259.4 252.0 256.5 Operating profit 11.3 15.6 25.7 12.7 18.8 20.2 19.9 Operating margin (in %) 4.8 % 6.5 % 10.3 % 5.3 % 7.2 % 8.0 % 7.8 % Tonnage sold (in thous. of
Slide 13: MM Karton FOODBOARD
MM Karton FOODBOARDTM Cartonboard-Novelty for optimum protection of food Major investment at Austrian Frohnleiten board mill (~ EUR 50 million) Implementation focus in 4th quarter of 2014 13
Slide 14: Mayr-Melnhof Packaging
Mayr-Melnhof Packaging
Slide 15: MMP Overview 1st – 3rd Quarter 2014
MMP Overview 1st – 3rd Quarter 2014 • Lack of impulses from private consumption in Europe • Intensified competition • Gain in volume and market share • Further efficiency and productivity increases • Expansion in particular at plants in Poland, Romania, Turkey and Vietnam • Continuity in earnings 15
Slide 16: MMP – 1st – 3rd Quarter 2014
MMP – 1st – 3rd Quarter 2014 in millions of EUR, IFRS 1-3Q/2014 1-3Q/2013 +/- Sales 882.0 849.5 +3.8 % Operating profit 77.6 77.6 +0.0 % Operating margin (in %) 8.8 % 9.1 % Tonnage processed (in thous. of tons) 530 502 +5.6 % Sheet equivalent (in millions) 1,514.2 1,400.8 +8.1 % Employees 6,888 6,94
Slide 17: MMP – Quarterly Overview
MMP – Quarterly Overview in millions of EUR, IFRS 1Q/2013 2Q/2013 3Q/2013 4Q/2013 1Q/2014 2Q/2014 3Q/2014 Sales 285.6 271.9 292.0 289.2 290.4 282.6 309.0 Operating profit 27.1 23.5 27.0 22.5 27.4 22.3 27.9 Operating margin (in %) 9.5 % 8.6 % 9.2 % 7.8 % 9.4 % 7.9 % 9.0 % Tonnage processed (in thous.
Slide 18: Outlook
Outlook • Weakening European economy effects also packaging demand • If trend continues increased pressure on prices will arise • Focus on productivity and volume gain • Target – Keep up high level profitability • 4Q profit below 3Q due to rebuild-related downtime 18
Slide 19: Appendix
Appendix KARTON AG
Slide 20: MM Group – Quarterly Overview
MM Group – Quarterly Overview consolidated in millions of EUR, IFRS 1Q/2013 2Q/2013 3Q/2013 4Q/2013 1Q/2014 2Q/2014 3Q/2014 Sales 496.7 485.1 515.3 502.3 523.9 509.2 537.9 EBITDA 60.3 61.8 73.5 56.7 68.5 65.0 70.1 EBITDA margin (in %) 12.1 % 12.7 % 14.3 % 11.3 % 13.1 % 12.8 % 13.0 % Operating profit