Aperam S.a. · EURONEXT:APAM
Aperam — FY2014 Earnings Presentation
17 slides from Aperam's earnings presentation, Feb 12, 2015
Slide 1: Full year and fourth quarter 2014
Full year and fourth quarter 2014 February 12, 2015 © Aperam 1
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This document may contain forward-looking information and statements about Aperam and its subsidiaries. These statements include financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with re
Slide 3: Introduction & overview
Introduction & overview Highlights: • Health and Safety frequency rate of 1.1x in 2014 compared to 1.3x in 2013. • Shipments of 1,813 thousand tonnes in full year 2014, a 5% increase compared to shipments of 1,728 thousand tonnes in full year 2013. • EBITDA of USD 547 million in full year 2014, comp
Slide 4: Health & Safety Performance
Health & Safety Performance Lost Time Injury Frequency rate* 4.0 3.0 2.0 1.0 0 1Q 1 2Q 2 3Q 2 4Q 2 1Q 2 2Q 3 3Q 3 4Q 3 1Q 3 2Q 4 3Q 4 4Q 4 14 07 07 4Q 7 07 08 3Q 8 08 08 2Q 9 09 09 1Q 9 10 10 4Q 0 10 2Q 1 11 4Q 1 1 1 1 1 1 1 1 1 1 1 1 1 0 0 0 0 1 1 1 1Q 2Q 3Q 1Q 2Q 4Q 1Q 3Q 4Q 2Q 3Q 1Q 3Q Profit imp
Slide 5: Environment and markets
Fourth quarter 2014 Environment and markets 5
Slide 6: Environment and markets: Stainless steel prices
Environment and markets Stainless steel prices Nickel - LME Cash (USD/t) Chinese versus European CR 304 2B 2mm coil transaction price 5 000 3 500 35 000 4 500 30 000 3 000 4 000 25 000 3 500 2 500 20 000 15 000 3 000 2 000 10 000 2 500 5 000 2 000 1 500 D p 08 9 D p 10 D p 11 D p 12 3 4 Se n 13 Se n
Slide 7: Performance and prospects
Fourth quarter 2014 Performance and prospects 7
Slide 8: Yearly evolution of profitability
Performance and prospects Yearly evolution of profitability Ebitda evolution Net result evolution (mUSD) 150 10,0% 100 6,3% 50 95 5,7% 0 4,1% 547 -61 -50 -100 -111 399 292 -100 217 -150 2011 2012 2013 2014 [1] 2011 2012 2013 2014 EBITDA (mUSD) EBITDA Margin (%) Improving operating performance as wel
Slide 9: Fourth quarter operating performance
Performance and prospects Fourth quarter operating performance Shipments (‘000t) Q4 2014 EBITDA per division (USD million) [1] 475 466 109 441 439 94 433 Q4 2013 Q1 2014 Q2 2014 Q3 2014 Q4 2014 Brazil 54 Brazil 58 EBITDA (USD million) Europe 55 Europe 36 164 137 21 129 117 13 12 11 84 Q3 2014 Q4 201
Slide 10: Leadership Journey®
Performance and prospects Leadership Journey® Cumulated gains (USD million) Key projects completed since beginning of 2011 • In Brazil, VSS*, switch from LPG to natural gas and conversion of blast furnace number 2 from coke to biomass. • In Europe, - Suspension of traditional cold roll mill in Isber
Slide 11: Financial results
Fourth quarter 2014 Financial results 11
Slide 12: Fourth quarter P&L highlights
Financial results Fourth quarter P&L highlights EBITDA to net income (USD million) (64) 117 (30) 53 2 (6) 25 19 EBITDA Depreciation Operating Net interest & Forex Pre-tax Tax & Net income & impairment income financing & derivatives income Non-controlling Costs* losses interests Profit improvementBas
Slide 13: Fourth quarter cash flow highlights
Financial results Fourth quarter cash flow highlights Free cash flow (USD million) (3) (6) (38) 117 108 70 EBITDA Working Capital Financial Cash-flow CAPEX Free charges, tax from Cash-flow & other operations Profit improvement in Q1 due USDto108 market andofinternal million initiatives cash from but
Slide 14: Fourth quarter balance sheet highlights
Financial results Fourth quarter balance sheet highlights Assets & liabilities (USD million) Equity & net debt (USD million) 23% 23% 21% 21% 20% 638 1 183 2 958 3 026 3 149 2 851 2 676 3 221 2 676 690 689 663 591 536 Assets Liabilities 31/12/13 31/03/14 30/06/2014 30/09/2014 31/12/14 Non-current ass
Slide 15: Sustainable cash flow from operations across the cycles
Financial results Sustainable cash flow from operations across the cycles Cumulated net cash provided by operating activities Quarterly net debt of Aperam evolution (USD million) (USD million) 1,200 1 100 1,000 1 000 800 900 600 800 400 700 200 600 0 500 14 14 11 Q 12 Q 12 Q 13 Q 13 Q 014 Q 11 Q 12
Slide 16: Debt restructuring
Financial results Debt restructuring Debt maturity profile (USD million) as of December 31, 2014 [1] Debt restructuring actions in 2014 ¾ Convertible Bond Ornane of USD300m issued in June 700 2014 at coupon of 0.625% and premium of 32.5% 600 ¾ BBF reduced by half during 2014 to USD400m 500 ¾ High Yi
Slide 17: Q&A
Q&A Wind Arena, Rouen (France) 17