OMZ (pref) · RUS:OMZZP
OMZ (pref) — OMZ — FY2005 Earnings Presentation
14 slides from OMZ (pref)'s earnings presentation, July 2006
Slide 1: 2005 annual IFRS financial results
2005 annual IFRS financial results July 2005 Moscow 11
Slide 2: Income statement highlights
Income statement highlights $mln 2005 % 2004 % Change % Including: OrganicForexDisposal Acquisition Sales 666.1 100 523.8 100 142.3 27 (8.0) 5.6 (27.3) 172.0 Gross 126.6 19 102.0 19 24.6 24 10.9 0.3 (11.4) 24.8 Profit EBITDA 59.4 9 39.5 8 19.9 50 27.8 (0.7) (25.2) 18.0 Profit for 6.2 1 61.0 12 (54.8
Slide 3: Change in sales by segment
Change in sales by segment $mln 2005 2004 Change % Including: Organic Forex Disposal Acquisition NPPEQ 195.0 146.0 49.0 34% (40.6) 0.1 (1.5) 91.0 STEEL 307.4 201.7 105.7 52% 33.2 2.8 - 69.7 MMEQ 114.1 96.2 17.9 19% 15.9 2.0 - - MINEQ 128.7 97.7 31.0 32% 28.8 2.2 - - Other 59.0 105.3 (46.3) (44%) (5.
Slide 4: Change in EBITDA by segment
Change in EBITDA by segment $mln 2005 2004 Change % Including: Organic Forex Disposal Acquisition NPPEQ 28.7 13.0 15.7 121% 6.5 (0.8) - 10.0 STEEL 27.0 7.2 19.8 275% 11.1 - - 8.7 MMEQ 3.4 (6.0) 9.4 157% 9.3 0.1 - - MINEQ 13.6 6.3 7.3 116% 7.1 0.2 - - Other 0.6 5.8 (5.2) -90% 0.5 - (5.2) (0.5) Inters
Slide 5: Changes in EBITDA and in Profit for the year
Changes in EBITDA and in Profit for the year $mln Organic Forex Disposal Acquisition EBITDA 27.8 (0.7) (5.2) 18.0 Effect of sale of non-core (20.0) subsidiaries Total EBITDA 27.8 (0.7) (25.2) 18.0 Profit for the year 18.8 (0.9) (2.9) 10.2 Effect of sale of non-core (20.0) subsidiaries Effect of nega
Slide 6: Profitability
Profitability Million US$ 2005 2004 Operating profit before negative goodwill 37.7 11.4 Less gain from release of government financing (6.5) (9.6) and tax penalties Less write-off of account receivable, related to 3.3 - discontinued operation Plus (minus) impairment of PP&E (1.6) 13.9 Plus impairmen
Slide 7: Other operating income/expenses
Other operating income/expenses Description Million US$, note 26 2005 Description 2004 Profit from sale of non-core GTEK, ZSMK, Izhora- 0.9 Zarubezhenergoproect 21.4 subs Energosbit, Instrument Change in provision for Release provision for Write-off of receivables impairment of receivables and 6.9 l
Slide 8: Change in profitability by segment
Change in profitability by segment Gross margin EBITDA margin Operating margin $mn 2004 2005 +/- 2004 2005 +/- 2004 2005 +/- NPPEQ 23% 21% - 9% 15% + 7% 12% + STEEL 10% 11% + 4% 9% + (1%) 4% + MMEQ 13% 11% - (6%) 3% + (28%) 2% + MINEQ 21% 26% + 6% 11% + 6% 10% + 88
Slide 9: International sales
International sales Geographic area 2005 % 2004 % Russia 294.9 44% 252 48% CIS 47.3 7% 31.7 6% Asia 75.4 11% 157.4 30% Europe 239.6 36% 81.2 16% Other 8.9 1% 1.5 0% Total 666.1 100% 523.8 100% % of int'l sales 56% 52% 99
Slide 10: Cost of sales
Cost of sales $mln 2005 % 2004 % Change % Including: OrganicForexDisposal Acquisition Sales 666.1 523.8 142.3 27 Materials and components used 278.0 48.8 246.3 55.1 31.7 13 (15.9) 3.4 (3.9) 48.1 Labour cost 97.2 17.0 72.0 16.1 25.2 35 3.4 0.6 (3.9) 25.1 Gas and Fuel 53.9 9.5 53.2 11.9 0.7 1 (1.2) 0.
Slide 11: SG&A
SG&A $mln 2005 % 2004 % Change % Including: OrganicForexDisposal Acquisition Taxes 6.5 8 6.7 8 (0.2) -3 (0.3) 0.1 (0.1) 0.1 Labour cost 48.8 57 45.2 54 3.6 8 2.0 0.8 (2.4) 3.2 Amortization& Depreciation 2.2 3 3.4 4 (1.2) -35 (1.5) - (0.1) 0.4 Services 23.3 27 20.1 24 3.2 16 2.1 0.4 (0.8) 1.5 Adminis
Slide 12: Change in working capital
Change in working capital $mln 2005 2004 Change % Including: *Excl. financial and investing activities Organic Forex Disposal Acquisition Cash 57 24 33 138 32 - - 1 Trade receivables 132 221 (89) -40 (90) (3) (1) 5 Advances issued 92 104 (12) -12 (10) (4) - 2 Taxes receivables 82 73 9 12 10 (3) (1)
Slide 13: Key Ratios
Key Ratios 2005 2004 % Turnover (days) Inventories 108 123 -12% Trade accounts 147 177 -17% receivable Trade accounts 211 207 2% payable NWC (excluding 94 122 -31% cash) 13 13
Slide 14: Debt dynamics
Debt dynamics $mln December 31, 2005 December 31, 2004 Long-term debt (incl. non-convertible 103.4 47% 97.4 44% bonds) Short-term debt 117.9 53% 122.0 56% Total debt 221.3 100% 219.4 100% Unused borrowing facilities ($mln.) 122.2 107.9 14 14