Mayr-Melnhof Karton AG · VIE:MMK
Mayr-Melnhof Karton — FY2017 Earnings Presentation
19 slides from Mayr-Melnhof Karton's earnings presentation, Mar 20, 2018
Slide 1: Annual Results 2017
MAYR-MELNHOF GROUP Annual Results 2017 March 20, 2018
Slide 2: A Balanced Portfolio
A Balanced Portfolio MM KARTON % Sales % op. profit ROCE % World‘s largest producer of coated recycled fiber-based cartonboard 12.7% with an important position in virgin fiber-based board MM PACKAGING Europe‘s largest folding carton 16.7% producer with a leading market position in several countries
Slide 3: Leading in Cartonboard based Packaging
Leading in Cartonboard based Packaging - 44 Production Sites in 17 Countries - 9,856 Employees 3
Slide 4: The Year 2017
The Year 2017 • Continuation of Success Course • Significant increase of recovered paper compensated • Another Record Result • Dividend increase to 3.10 EUR / share (2016: 3,00 EUR) 4
Slide 5: Group Results 2017
Group Results 2017 KARTON AG
Slide 6: Annual Results 2017
Annual Results 2017 consolidated in millions of EUR, IFRS 2017 2016 +/ - Sales 2,336.8 2,272.7 +2.8 % Operating profit 215.0 213.7 +0.6 % Operating margin (in %) 9.2 % 9.4 % Profit before tax 205.5 209.2 -1.8 % Income tax expense (50.5) (55.8) Profit for the year 155.0 153.4 +1.0 % Net profit margin
Slide 7: Sales by Destination
MM KARTON AG Sales by Destination Western Europe 59 9 Eastern ‘0 Asia and MENA 8% Other Latin America 2% 5%
Slide 8: Consolidated Balance Sheet
Consolidated Balance Sheet consolidated in millions of EUR, IFRS Dec. 31, 2017 Dec. 31, 2016 Non-current assets 1,013.1 954.1 Current assets 1,000.3 1,027.8 Total assets 2,013.4 1,981.9 Equity 1,318.6 1,259.2 Liabilities 694.8 722.7 Total equity and liabilities 2,013.4 1,981.9 Total funds available
Slide 9: Cash flow Statement
Cash flow Statement consolidated in millions of EUR, IFRS 2017 2016 Cash flow from operating activities 217.2 219.4 Cash flow from investing activities (154.4) (144.6) Cash flow from financing activities (114.5) (79.8) Cash and cash equivalents beg. of the year 251.1 254.9 Net change in cash and cas
Slide 10: Dividend Development
Dividend Development in EUR 5,00 4,50 Anniversary Bonus 2.40 4,00 3,50 3,00 3,10 3,00 2,80 2,60 Bonus 0.75 2,50 2,40 2,25 2.10 1,95 2,00 1,70 1,70 1,70 1,50 1,40 1,20 1,30 1,00 1,10 1,00 0,83 0,90 0,73 0,78 0,62 0,50 0,00 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 p 17 19 19 19 20 2
Slide 11: MM Karton - 2017
MM Karton - 2017 • Market position strengthened - product portfolio, with increasing share of young products - selective sales approach • 98% Capacity utilization • Increase in sales and profit 11
Slide 12: MM Karton Results 2017
MM Karton Results 2017 in millions of EUR, IFRS 2017 2016 +/ - Sales1) 1,048.7 1,023.0 +2.5 % Operating profit 73.5 68.1 +7.9 % Operating margin (in %) 7.0 % 6.7 % Tonnage sold (in thousands of tons) 1,675 1,671 +0.2 % Tonnage produced (in thousands of tons) 1,685 1,669 +1.0 % Employees 2,524 2,554
Slide 13: MM Packaging - 2017
MM Packaging - 2017 • Focus on cost leadership and rationalization • Pass on of cartonboard price increase • High earnings level secured • Expansion - Vietnam, Iran and Jordan – provide for further growth - Poland (cosmetics) – drive presence in high-value products 13
Slide 14: MM Packaging Results 2017
MM Packaging Results 2017 in millions of EUR, IFRS 2017 2016 +/ - Sales1) 1,392.7 1,352.6 +3.0 % Operating profit 141.5 145.6 -2.8 % Operating margin (in %) 10.2 % 10.8 % Tonnage processed (in thousands of tons) 767 761 +0.8 % Sheet equivalent (in millions) 2,289.9 2,240.1 +2.2 % Employees 7,332 7,3
Slide 15: Outlook
Outlook • Continuation of positive momentum in Europe – High capacity utilization • Strong competition stays on • Demand related cost increase must be passed on • Target: Continuation of expansion course • Target: Keep up earnings quality 15
Slide 16: Appendix
Appendix Annual Results 2017
Slide 17: MM Group – Quarterly Overview
MM Group – Quarterly Overview consolidated in millions of EUR, IFRS 4Q/ 2016 1Q/ 2017 2Q/ 2017 3Q/ 2017 4Q/ 2017 Sales 558.9 584.5 565.8 598.8 587.7 EBITDA 77.2 74.8 76.1 81.3 82.1 EBITDA margin (in %) 13.8 % 12.8 % 13.4 % 13.6 % 14.0 % Operating profit 53.5 50.6 51.5 56.8 56.1 Operating margin (in
Slide 18: MM Karton – Quarterly Overview
MM Karton – Quarterly Overview in millions of EUR, IFRS 4Q/ 2016 1Q/ 2017 2Q/ 2017 3Q/ 2017 4Q/ 2017 Sales1) 245.5 261.9 262.3 264.7 259.8 Operating profit 13.7 15.9 19.2 19.5 18.9 Operating margin (in %) 5.6 % 6.1 % 7.3 % 7.4 % 7.3 % Tonnage sold (in thousands of tons) 413 426 418 422 409 Tonnage p
Slide 19: MM Packaging – Quarterly Overview
MM Packaging – Quarterly Overview in millions of EUR, IFRS 4Q/ 2016 1Q/ 2017 2Q/ 2017 3Q/ 2017 4Q/ 2017 1) Sales 339.2 344.6 330.0 362.2 355.9 Operating profit 39.8 34.7 32.3 37.3 37.2 Operating margin (in %) 11.7 % 10.1 % 9.8 % 10.3 % 10.5 % Tonnage processed (in thousands of tons) 191 190 185 194