Acerinox Sa · BME:ACX
Acerinox Sa — Q1 2016 Earnings Presentation
11 slides from Acerinox Sa's earnings presentation, 2016
Slide 1: Acerinox 2016 First Quarter Results
ACERINOX 2016 FIRST QUARTER 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 Q1 2016 Q1 2015 Variation NET SALES 953,35 1.144,31 -16,7% Q1 results, in line with EBITDA 40,99 102,55 -60,0% expectations, EBIT 0,55 61,89 -99,1% reflect the difficult RESULT BEFORE TAXES -7,35 48,20 --- market conditions in RESULT AFTER TAXES & MINOR
Slide 4: Official Nickel Price in the L.M.E.
OFFICIAL NICKEL PRICE IN THE L.M.E. Years 2015 and 2016, up to April 27 16,000 A v e r a g e p r i c e : c a s h / t h r e e 14,000 Minimum in February m o n t h s U S D / M t 12,000 Looking for stabilization 10,000 8,000 6,000 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 (up to March)
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 Lower prices in all markets: USD/Mt, final price, alloy surcharge included 4.500 Europe (-18%) United States (-37%) Asia (-29%) (over Q1 2015) 3.000 N. EUROPE USA ASIA 1.500 2013 2014 2015 2016 S o u r c e : P L A T T
Slide 6: Production
PRODUCTION Thousand Mt 617 632 601 611 587 581 547 558 562 546 575 510 516 M E LT I N G S H O P -4% over Q1 2015 +5% over Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2 02013 13 2 02014 14 2 02015 15 2 2016 016 542 552 515 485 465 477 491 464 524 536 498 481 526 HOT ROLLING +0.4% over Q1 2015
Slide 7: Profit and Loss Account
PROFIT AND LOSS ACCOUNT Million EUR After an adjustment of inventories to NRV (-9 million EUR) ACERINOX 7 2016, FIRST QUARTER RESULTS
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 15.0% 71 68 12.4% 10.8% 51 10.0% 8.7% 9.2% 9.0% 8.6% 50 38 7.7% 41 41 41 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 2015 2016 ACERI
Slide 9: Balance Sheet
BALANCE SHEET Million EUR ASSETS LIABILITIES Mar 16 2015 Variation Mar 16 2015 Variation Non-current assets 2,229.18 2,317.53 -3.8% Equity 1,913.69 2,023.30 -5.4% Current assets 1,718.76 1,808.14 -4.9% Non-current liabilities 921.27 995.59 -7.5% - Inventories 737.12 824.93 -10.6% - Interest-bearing
Slide 10: Cash Flow Statement
C A S H F L O W S TAT E M E N T Million EUR Reduction of working capital Positive Investments in NAS and Acerinox Europa Cash Flow ACERINOX 10 2016, FIRST QUARTER RESULTS
Slide 11: Acerinox Q&A
ACERINOX Q&A 2016 FIRST QUARTER RESULTS