Acerinox Sa · BME:ACX
Acerinox Sa — H1 2016 Earnings Presentation
12 slides from Acerinox Sa's earnings presentation, 2016
Slide 1: Acerinox 2016 First Half Results
ACERINOX 2016 FIRST HALF RESULTS
Slide 2: Disclaimer
DISCLAIMER This document may contain forward-looking information and statements about ACERINOX, S.A., its subsidiaries and/or its management. These forward-looking statements include financial projections and estimates and their underlying assumptions, and statements regarding the intent, belief or
Slide 3: Main Financial Figures of Acerinox
MAIN FINANCIAL FIGURES OF ACERINOX Million EUR H1 2016 H1 2015 Variation NET SALES 1,907.02 2,315.22 -17.6% Difficult market EBITDA 119.73 203.63 -41.2% environment in the first Quarter EBIT 36.43 120.81 -69.8% and a gradual RESULT BEFORE TAXES 19.08 96.02 -80.1% improvement in the second RESULT AFT
Slide 4: Official Nickel Price in the L.M.E.
OFFICIAL NICKEL PRICE IN THE L.M.E. Years 2015 and 2016, up to July 19 25,000 F i n a l l y, n i c k e l a p p e a r s t o have changed the trend A v e r a g e p r i c e : c a s h / t h r e e 20,000 m o n t h s U S D / M t 15,000 10,000 5,000 J F M A M J J A S O N D J F M A M J J A S O N D 2006-2016
Slide 5: Stainless Steel Cold Rolled Coil Prices
S TA I N L E S S S T E E L C O L D R O L L E D C O I L P R I C E S AISI 304 2.0 mm Low prices in all markets: 4,500 USD/Mt, final price, alloy surcharge included Europe (-18%) United States (-31%) Asia (-24%) (over H1 2015) 3,000 N. EUROPE USA ASIA 1,500 2013 2014 2015 2016 S o u r c e : P L A T T S
Slide 6: Production
PRODUCTION Thousand Mt 587 581 617 632 558 601 611 562 546 575 652 510 547 516 M E LT I N G S H O P +1% over H1 2015 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 +13% over Q1 2013 2014 2015 2016 515 485 465 477 542 552 491 464 524 536 498 481 526 563 HOT ROLLING +3% over H1 2015 +7% over Q1 Q1 Q2
Slide 7: Profit and Loss Account
PROFIT AND LOSS ACCOUNT Million EUR January- June Million € Q1 2016 Q2 2016 2016 2015 Variation Net sales 953.35 953.67 1,907.02 2,315.22 -17.6% Gross operating result / 40.99 78.75 119.73 203.63 -41.2% Improvement in Q2 EBITDA % over sales 4.3% 8.3% 6.3% 8.8% EBIT 0.55 35.89 36.43 120.81 -69.8% % o
Slide 8: Quarterly Evolution of our EBITDA
Q U A R T E R LY E V O L U T I O N O F O U R E B I T D A Million EUR 150 140 25 .0 % 124 20 .0 % 101 103 101 100 89 79 15 .0 % 71 68 12.4% 10.8% 51 9.2% 9.0% 8.6% 10 .0 % 50 8.7% 41 41 41 8.3% 38 7.7% 6.6% 4.9% 4.1% 4.5% 4.3% 5.0% 3.9% 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 0.0% 2013 2014
Slide 9: Balance Sheet
BALANCE SHEET Million EUR ASSETS LIABILITIES Jun 16 2015 Variation Jun 16 2015 Variation Non-current assets 2,252.44 2,317.53 -2.8% Equity 1,959.07 2,023.30 -3.2% Current assets 1,983.58 1,808.14 9.7% Non-current liabilities 1,250.67 995.59 25.6% - Inventories 774.97 824.93 -6.1% - Interest-bearing
Slide 10: Cash Flow Statement
C A S H F L O W S TAT E M E N T Jan - Jun 2016 Jan - Dec 2015 Jan - Jun 2015 Million EUR Result before taxes 19.1 76.9 96.0 Adjustments for: 91.3 210.2 106.3 Depreciation and amortisation 82.9 163.7 82.2 Changes in provisions and impairments -7.3 2.3 -4.1 Other adjustments in the result Changes in w
Slide 11: Excellence Plan IV 2015-2016 Target
EXCELENCE PLAN IV 2015 – 2016 (to June 2016) TA R G E T 2 0 1 5 - 2 0 1 6 67 million EUR ACHIEVED: 71% 48 million EUR Chemical Delivery Bahru Inventories composition times Stainless ACERINOX 11 2016, FIRST HALF RESULTS
Slide 12: Acerinox Q&A
ACERINOX Q&A 2016 FIRST QUARTER RESULTS