Acerinox Sa · BME:ACX
Acerinox Sa — Q1 2017 Earnings Presentation
11 slides from Acerinox Sa's earnings presentation, April 2017
Slide 1: Acerinox 2017 First Quarter Results
ACERINOX 2017 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 2017 Q1 2016 Variation Q1 results NET SALES 1,252.48 953.35 31.4% reflect good EBITDA 191.24 40.99 366.6% market conditions EBIT 146.12 0.55 26567.4% Results boosted RESULT BEFORE TAXES 140.80 -7.35 --- by the increase RESULT AFTER TAXES & MINORITIES
Slide 4: Sector Indicators
S E C T O R I N D I C AT O R S Auto Construction Home Production Appliances +1.3% +2.1% +0.3% Year to February Eurofer´s estimate for Eurofer´s estimate Source: ACX Business 2017 for 2017 Intelligence -2.9% +3.0% +5.1% Year to February Year to February Year to February Source: Wards Auto Source: US
Slide 5: Raw Material Prices
R AW M AT E R I A L P R I C E S Years 2016 and 2017, up to April 25 20,000 Nickel trades between A v e r a g e p r i c e : c a s h / t h r e e 15,000 9,500 USD/Mt – 10,500 USD/Mt m o n t h s U S D / M t 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 Surge in ferrochrome C r prices L b
Slide 6: 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 Higher prices in all markets: USD/Mt, final price, alloy surcharge included 4,000 Europe (+29%) United States (+42%) Asia (+37%) (over 3M 2016) 3,000 NORTH EUROPE USA ASIA 2,000 1,000 2014 2015 2016 2017 S o u r c e :
Slide 7: Production
PRODUCTION Thousand Mt 617 634 558 601 611 562 546 575 652 637 611 668 516 M E LT I N G S H O P +16% over Q1 2016 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 +9% over Q4 2016 2014 2015 2016 2017 593 542 552 491 524 536 498 481 526 563 572 547 464 HOT ROLLING +13% over Q1 2016 +8% over Q4 2016 Q1
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 Return to EBITDA margin previous to crisis 200 191 2 5 . 0 % 2 0 . 0 % 150 140 124 15.3% 101 103 101 103 106 1 5 . 0 % 100 89 12.4% 10.8% 79 10.3% 10.1% 9.3% 9.0% 1 0 . 0 % 8.7% 8.6% 8.3% 41 41 41 50 4.1% 4.5% 4.3% 5 .0 % 0 Q1 Q2 Q
Slide 9: Balance Sheet
BALANCE SHEET Million EUR ASSETS LIABILITIES Mar 17 2016 Variation Mar 17 2016 Variation Non-current assets 2,311.29 2,357.53 -2.0% Equity 2,239.18 2,168.68 3.3% Current assets 2,389.54 2,097.51 13.9% Non-current liabilities 1,160.46 1,191.17 -2.6% - Inventories 1,068.32 887.42 20.4% - Interest-bear
Slide 10: Cash Flow Statement
C A S H F L O W S TAT E M E N T Million EUR Jan - Mar Jan - Dec Jan - Mar 2017 2016 2016 Result before taxes 140.8 127.9 -7.4 Adjustments for: 47.9 215.1 41.6 Depreciation and amortisation 45.3 169.8 40.2 Changes in provisions and impairments -0.5 -8.4 -3.1 Other adjustments in the result 3.1 53.7 4
Slide 11: Acerinox Q&A
ACERINOX Q&A 2017 FIRST QUARTER RESULTS