Evonik Industries Ag · XETR:EVK
Evonik Industries — Q1 2015 Earnings Presentation
27 slides from Evonik Industries's earnings presentation, May 6, 2015
Slide 1: Evonik. Power to create. Q1 2015 Earnings Conference Call
Evonik. Power to create. Q1 2015 Earnings Conference Call Ute Wolf, Chief Financial Officer 6 May, 2015
Slide 2: Table of contents
Table of contents 1 Highlights Q1 2015 2 Financial performance Q1 2015 3 Outlook FY 2015 6 May, 2015 | Evonik Q1 2015 Earnings Conference Call Page 2
Slide 3: Highlights Q1 2015: Strong start into the year; outlook raised
Highlights Q1 2015 Strong start into the year; outlook raised Adj. EBITDA of €650 m significantly above prior year level (+40%) driven by strong performance in Nutrition & Care and Resource Efficiency Accelerating operational performance Outlook raised: adj. EBITDA for FY 2015 at least €2.2 bn Expan
Slide 4: Table of contents
Table of contents 1 Highlights Q1 2015 2 Financial performance Q1 2015 3 Outlook FY 2015 6 May, 2015 | Evonik Q1 2015 Earnings Conference Call Page 4
Slide 5: Financial highlights Q1 2015: Sales and earnings significantly increased
Financial highlights Q1 2015 Sales and earnings significantly increased Sales increased by 7% to €3,425 m driven by dynamic volume growth in Nutrition & Care (+5%) and Resource Efficiency (+6%) as well as by favourable currency exchange rates Adj. EBITDA of €650m clearly above prior year (+40%); Thr
Slide 6: Financial highlights Q1 2015: Notable margin expansion
Financial highlights Q1 2015 Notable margin expansion Sales (in € m) Adj. EBITDA (in € m) / margin +7% Q1 15 vs. Q1 14 +40% 3,425 650 3,201 Volume Price 465 +2% 0% FX Other +6% -1% in % 14.5 19.0 Q1 14 Q1 15 Q1 14 Q1 15 Adj. EPS (in €) Net financial position (in € m) +63% +148 0.69 548 400 0
Slide 7: Nutrition & Care: Strong volumes and prices in Animal Nutrition
Nutrition & Care Strong volumes and prices in Animal Nutrition Sales (in € m) +28% Q1 15 vs. Q1 14 1,229 1,016 1,114 Volume Price 962 983 +5% +16% FX Other +9% -2% Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Adj. EBITDA (in € m) / margin (in %) +90% 353 269 186 186 206 in % 19.3 18.9 20.3 24.1 28.7 22.1 2
Slide 8: Resource Efficiency: Continued high demand and new capacities driving growth
Resource Efficiency Continued high demand and new capacities driving growth Sales (in € m) +13% Q1 15 vs. Q1 14 1,043 1,124 999 1,027 971 Volume Price +6% 0% FX Other +6% +1% Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Adj. EBITDA (in € m) / margin (in %) +10% 226 244 221 214 175 in % 22.1 21.7 20.8 18.0
Slide 9: Performance Materials: Good start for Methacrylates, difficult C4 environment
Performance Materials Good start for Methacrylates offset by difficult trading environment for C4 products Sales (in € m) -15% Q1 15 vs. Q1 14 999 979 966 883 851 Volume Price -5% -14% FX Other +4% 0% Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Adj. EBITDA (in € m) / margin (in %) -10% 83 90 80 72 72 in %
Slide 10: Net financial position: Strong operating cash flow generation
Net financial position Strong operating cash flow generation Development of net financial position (in € m) +148 -269 +445 548 -28 400 Total leverage1 Total leverage1 1.8x 2.0x Net cash position CF from CF from Other Net cash position as of 31 Dec, 2014 operating investing as of 31 Mar, 2015 activit
Slide 11: Table of contents
Table of contents 1 Highlights Q1 2015 2 Financial performance Q1 2015 3 Outlook FY 2015 6 May, 2015 | Evonik Q1 2015 Earnings Conference Call Page 11
Slide 12: Outlook for 2015 raised
Outlook for 2015 raised Adj. EBITDA of at least €2.2 bn expected Slightly higher sales and adjusted EBITDA at least €2.2 bn (previously: “slightly higher”) Vast majority of Increasing Further ramping up businesses contribution from of new capacities contributing to Admin Excellence in all segments e
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Slide 14: Additional indications for 2015
Additional indications for 2015 • EUR/USD sensitivity1 +/-1 USD cent = -/+ ~€5 m adj. EBITDA (FY basis) • Adj. EBITDA Services2 Stable in 2015 (previously: “slightly below prior year”; 2014: €151 m) • Adj. EBITDA Corporate/Other2 Slightly more negative than in 2014 (previously: “on prior year level”
Slide 15: Nutrition & Care Q1 2015 Business Line comments
Nutrition & Care Q1 2015 Business Line comments Sales (in € m) Personal Care facing good demand esp. in Asia and +28% North America; overall favorable product mix with higher 1,229 share of specialties 1,114 962 Baby Care with solid performance in normalized market environment; new production capaci
Slide 16: Resource Efficiency Q1 2015 Business Line comments
Resource Efficiency Q1 2015 Business Line comments Sales (in € m) Silica with strong demand across most end markets +13% leading to high plant utilization also for new capacities; 1,124 strong demand for specialty applications 999 971 Crosslinkers: good start into 2015 driven by high volumes in key
Slide 17: Performance Materials Q1 2015 Business Line comments
Performance Materials Q1 2015 Business Line comments Sales (in € m) MMA: good start into 2015 driven by prices holding up well -15% in low raw material price environment; support coming esp. 999 from tight supply in Europe 883 851 PMMA with good demand in Europe and the US, esp. from automotive cust
Slide 18: Services and Corporate / Others
Services and Corporate / Others Q1 2015 segment comments Services: adj. EBITDA (in € m) • Solid quarter supported by good demand from 43 45 47 46 chemicals segments due to strong volumes (logistics, technical service) 16 Q1 14 Q2 14 Q3 14 Q4 14 Q1 15 Corporate / Others: adj. EBITDA (in € m) • Positi
Slide 19: Further increase in pension obligations in Q1
Further increase in pension obligations in Q1 due to lowered discount rate Net debt development (in € m) Net financial debt DBO - plan assets Total leverage1 5,461 • Majority of debt consists of long- 1,163 4,230 dated pension obligations; average 3,439 life of DBO exceeds 15 years 2,693 • Increase
Slide 20: Adj. income statement Q1 2015
Adj. income statement Q1 2015 D&A in € million Q1 2014 Q1 2015 ∆ in % • Increase due to new production Sales 3,201 3,425 +7 facilities coming on stream Adj. EBITDA 465 650 +40 Depreciation & amortization -147 -165 Adj. net financial result Adj. EBIT 318 485 +53 • Improvement from favorable bond refi
Slide 21: Cash flow statement Q1 2015
Cash flow statement Q1 2015 CF from operating activities in € million (continuing operations) Q1 2014 Q1 2015 • Build-up in NWC result of higher Income before financial result and income taxes 299 448 volumes and sales Depreciation and amortization 147 191 ∆ Net working capital -114 -242 CF from inv
Slide 22: Segment overview by quarter
Segment overview by quarter Sales (in € m) Q1/14 Q2/14 Q3/14 Q4/14 FY 2014 Q1/15 Nutrition & Care 962 983 1,016 1,114 4,075 1,229 Resource Efficiency 999 1,043 1,027 971 4,040 1,124 Performance Materials 999 979 966 883 3,827 851 Services 231 223 217 235 906 207 Corporate / Others 10 19 17 23 69 14
Slide 23: Specialty Chemicals segments
Specialty Chemicals segments New segment structure from January 2015 Segments Resource Performance Nutrition & Care Efficiency Materials Sales: €4,075 m Sales: €4,040 m Sales: €3,827 m KPI‘s Adj. EBITDA: €847 m Adj. EBITDA: €836 m Adj. EBITDA: €325 m Adj. EBITDA margin: 20.8% Adj. EBITDA margin: 20.
Slide 24: Upcoming IR events
Upcoming IR events Roadshows Conference participations • 8 May, 2015: London • 7 May, 2015: HSBC Luxemburg Conference • 11 May, 2015: Frankfurt / Main • 4 Jun, 2015: Nomura SRI Conference, London • 18 Jun, 2015: Deutsche Bank German, Swiss & Austrian Conference, Berlin • 23 Jun, 2015: Credit Suisse
Slide 25: Evonik Investor Relations Team
Evonik Investor Relations Team Tim Lange Janine Kanotowsky Head of Investor Relations Team Assistant +49 201 177 3150 +49 201 177 3146 [email protected] [email protected] Hannelore Gantzer Christoph Rump Investor Relations Manager Investor Relations Manager +49 201 177 3678 +49 201 177
Slide 26: Disclaimer
Diese Markierung nach erfolgreicher Anwendung dieser Master löschen. Disclaimer In so far as forecasts or expectations are expressed in this presentation or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actu
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