Mayr-Melnhof Karton AG · VIE:MMK

Mayr-Melnhof Karton — Mayr-Melnhof Group — H1 2010 Earnings Presentation

25 slides from Mayr-Melnhof Karton's earnings presentation, Aug 17, 2010

  1. Slide 1: Mayr-Melnhof Group 1st Half-Year Results 2010

    Mayr-Melnhof Group 1st HALF-YEAR RESULTS 2010 August 17, 2010

  2. Slide 2: MM Karton and MM Packaging

    MM Karton MM Packaging World‘s largest producer of Europe‘s largest manufacturer recycled fiber based cartonboard of folding cartons with a rising position in virgin fiber based board 2

  3. Slide 3: Production Sites

    Production Sites MM Board Mills (7) MM Packaging Plants (29) ~ 7.900 Employees Basis 1st half-year 2010 3

  4. Slide 4: Highlights 1st Half-Year 2010

    Highlights 1st Half-Year 2010 • Long-term continuity of earnings strength reaffirmed • High capacity utilization and positive volume development in both divisions • Encouraging growth in sales and operating profit • Significant rise in raw materials prices 4

  5. Slide 5: Results 1st Half-Year 2010

    RESULTS 1st HALF-YEAR 2010 5

  6. Slide 6: Consolidated Results 1st HY 2010

    Consolidated Results 1st HY 2010 consolidated in millions of EUR, IFRS 1st HY/2010 1st HY/2009 +/- Sales 863.0 769.4 +12.2 % Operating profit 77.6 70.2 +10.5 % Operating margin 9.0 % 9.1 % Result from disposal of businesses (7.9) 0.0 Profit before tax 67.5 70.7 -4.5 % Income tax expense (18.6) (18.8

  7. Slide 7: MM Group: Quarters

    MM Group: Quarters Sales Operating Margin % 500 16% 450 14% 400 350 12% 300 10% 250 8% 200 6% 150 4% 100 50 2% 0 0% in millions of EUR I/07 II/07 III/07 IV/07 I/08 II/08 III/08 IV/08 I/09 II/09 III/09 IV/09 I/10 II/10 7

  8. Slide 8: Sales by Region

    Sales by Region Western Europe 68% (69%) Eastern Europe 24% (23%) Other Asia 4% 4% (4%) (4%) (HY1 2010 / 2009) 8

  9. Slide 9: Consolidated Balance Sheet

    Consolidated Balance Sheet consolidated in millions of EUR, IFRS Jun. 30, 2010 Dec. 31, 2009 Non-current assets 609.2 606.1 Current assets 758.9 785.7 Total assets 1,368.1 1,391.8 Equity 929.3 964.3 Liabilities 438.8 427.5 Total equity and liabilities 1,368.1 1,391.8 Total funds available to the Gro

  10. Slide 10: MM Group: Key Ratios 1st Half-Year 2010

    MM Group: Key Ratios 1st Half-Year 2010 • Net liquidity: EUR 216 million • Equity ratio: 68 % 10

  11. Slide 11: Consolidated Cash Flow Statement

    Consolidated Cash Flow Statement consolidated in millions of EUR, IFRS 1st HY/2010 1st HY/2009 Cash flow from operating activities 64.2 78.2 Cash flow from investing activities (37.3) (24.6) Cash flow from financing activities (104.9) (65.1) Cash and cash equivalents beg. of the period 353.3 189.8 N

  12. Slide 12: Mayr-Melnhof Karton

    MAYR-MELNHOF KARTON 12

  13. Slide 13: MM Karton: 1st Half-Year 2010

    MM Karton: 1st Half-Year 2010 • Solid demand and replenishment of customers’ stock • Average order backlog significantly increased • Capacity utilization 97% (2Q 2010: 98%, 1 HY, 09: 85%) • Strong price increase on the procurement markets • Gradual passing on of increased costs to customers 13

  14. Slide 14: MM Karton: Results 1st HY 2010

    MM Karton: Results 1st HY 2010 in millions of EUR, IFRS 1st HY/2010 1st HY/2009 +/- Sales 427.3 367.9 +16.1 % Operating profit 25.2 26.1 -3.4 % Operating margin 5.9 % 7.1 % Tonnage sold (in thousands of tons) 802 699 +14.7 % Tonnage produced (in thousands of tons) 785 717 +9.5 % 14

  15. Slide 15: MM Karton: Quarters

    MM Karton: Quarters Sales Operating Margin % 250 16% 14% 200 12% 150 10% 8% 100 6% 4% 50 2% 0 0% In millions of EUR I/07 II/07 III/07 IV/07 I/08 II/08 III/08 IV/08 I/09 II/09 III/09 IV/09 I/10 II/10 15

  16. Slide 16: Mayr-Melnhof Packaging

    L) ER oe MAYR-MELNHOF PACKAGING 16

  17. Slide 17: MM Packaging: 1st Half-Year 2010

    MM Packaging: 1st Half-Year 2010 • Temporary economic recovery and inventory build-up along the entire supply-chain • Intense price competition – continuing pressure on margins • MMP production sites stand their ground - Positive volume development - Improved cost efficiency 17

  18. Slide 18: MM Packaging: Results 1st HY 2010

    MM Packaging: Results 1st HY 2010 in millions of EUR, IFRS 1st HY/2010 1st HY/2009 +/- Sales 494.7 463.5 +6.7 % Operating profit 52.4 44.1 +18.8 % Operating margin 10.6 % 9.5 % Tonnage processed (in thousands of tons) 333 310 +7.4 % 18

  19. Slide 19: MM Packaging: Quarters

    MM Packaging: Quarters Sales Operating Margin % 250 16% 14% 200 12% 150 10% 8% 100 6% 4% 50 2% 0 0% in million of EUR I/07 II/07 III/07 IV/07 I/08 II/08 III/08 IV/08 I/09 II/09 III/09 IV/09 I/10 II/10 19

  20. Slide 20: MM Packaging: 1st Half-Year 2010

    MM Packaging: 1st Half-Year 2010 • Temporary economic recovery and inventory build-up along the entire supply-chain • Intense price competition – continuing pressure on margins • MMP production sites stand their ground • Increased level of tonnage processed • Improved cost efficiency • Expansion con

  21. Slide 21: Outlook

    Outlook • High capacity utilization continued in 3Q • Rise on procurement markets ongoing • Cartonboard and folding carton price increase - top priority • Positive earnings development also expected in 3Q • Strong focus on possible changes of economic environment 21

  22. Slide 22: Appendix

    APPENDIX 22

  23. Slide 23: MM Group – Quarters

    MM Group – Quarters consolidated in millions of EUR, IFRS 1Q/2009 2Q/2009 3Q/2009 4Q/2009 1Q/2010 2Q/2010 Sales 384.0 385.4 417.1 415.0 439.2 423.8 Operating profit 35.7 34.5 39.9 39.8 40.2 37.4 Operating margin 9.3 % 9.0 % 9.6 % 9.6 % 9.2 % 8.8 % Profit before tax 36.2 34.5 39.5 22.2 39.0 28.5 Prof

  24. Slide 24: MM Karton - Quarters

    MM Karton - Quarters in millions of EUR, IFRS 1Q/2009 2Q/2009 3Q/2009 4Q/2009 1Q/2010 2Q/2010 Sales 182.7 185.2 197.7 200.4 219.9 207.4 Operating profit 11.6 14.5 14.0 11.4 12.2 13.0 Operating margin 6.3 % 7.8 % 7.1 % 5.7 % 5.5 % 6.3 % Tonnage sold (in thousands of tons) 334 365 391 391 415 387 Tonn

  25. Slide 25: MM Packaging: Quarters

    MM Packaging: Quarters in millions of EUR, IFRS 1Q/2009 2Q/2009 3Q/2009 4Q/2009 1Q/2010 2Q/2010 Sales 236.0 227.5 247.7 240.8 249.6 245.1 Operating profit 24.1 20.0 25.9 28.4 28.0 24.4 Operating margin 10.2 % 8.8 % 10.5 % 11.8 % 11.2 % 10.0 % Tonnage processed (in thousands of tons) 163 147 161 159

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