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Apresentação do PowerPoint - natu.infoinvest.com.br · 11,0 10,3 7,9 11,7 17,5 17,0 20,5 20,8 16,2 0,71 0,34 0,57 1,22 1,00 0,96 0,83 1,13 1,16 ... (% NR) (% NR) (% NR) (% NR) (R$/CN)

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2

5

6

9

10

11

12

14

15

16

17

18

4,76,9

11,0 10,37,9

11,7

17,5 17,0

20,5 20,8

16,2

0,71

0,34

0,57

1,22

1,000,96

0,83

1,13 1,16

1,26 1,28

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Market Capitalization (R$ MM) Volume (MM shares)

4,76,9

11,0 10,37,9

11,7

17,5 17,0

20,5 20,8

16,2

0,71

0,34

0,57

1,22

1,000,96

0,83

1,13 1,16

1,26 1,28

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Market Cap, Year Average (R$ millions)

Volume Daily Average (million shares)

19

20

27

(R$/CN)

(R$ MM)

Ebitda Margin 24.1% 23.8% 24.5% 25.5% 23.8% 23.0% 21.0% -3.1pp 17.4% -0.8pp

(-) Depreciation/Amortization -90 -92 -89 -110 -141 -193 -190 13.3% -57 1.2%

(-) Financial Income / (Expenses), net -23 -42 -50 -77 -72 -158 -268 50.8% -55 5.3%

(-) Income Tax and Social Contrib. -229 -190 -374 -407 -424 -410 -355 7.6% -55 -4.0%

% Income Tax and Social Contrib. 30.7% 21.8% 33.5% 32.9% 32.7% 32.6% 32.4% 1.7pp 31.5% -1.1pp

(-) Noncontrolling 0 0 0 0 0 -5 -8 n/d 0 n/d

Net Margin 14.5% 16.1% 14.5% 14.9% 13.8% 12.0% 9.9% -4.6pp 7.3% -0.2pp

(+) Depreciation/Amortization 90 92 89 110 141 193 190 13.3% 57 1.2%

(+) Non-Cash / Other -66 -28 21 23 3 -12 0 n/d 10 255.8%

Internal Cash Generation 542 749 854 964 1019 1024 923 9.3% 186 5.7%

Working Capital (increase) / decrease 45 -190 100 -207 297 -175 -207 n/d -90 -62.0%

Operating cash generation 587 559 953 757 1316 849 716 3.4% 96 -259.8%

Capex -103 -140 -237 -346 -438 -554 -506 30.4% -50 -62.7%

% Net Revenue 2.9% 3.3% 4.6% 6.2% 6.9% 7.9% 6.8% 4.0pp 3.1% -5.6pp

(R$/CN)

Euromonitor**

Sipatesp***

(R$ MM)

(R$/CN)

Euromonitor**

(R$ MM)

(% NR)

(% NR)

(% NR)

(% NR)

(R$/CN)

Euromonitor**

(R$ MM)

(% NR)

(% NR)

(% NR)

(% NR)

11 vs 10 12 vs 11 13 vs 12 14 vs 13

Current Assets 1.870 2.203 3.378 3.513 4.239 17,8% 53,3% 4,0% 20,7%

Cash and Cash Equivalents 38 516 1.144 1.003 1.164 1256,9% 121,9% -12,3% 16,1%

Financial Deposits 522 - 499 306 532 n/d n/d -38,7% 73,9%

Fair Value Financial Investment Assessment 522 - 499 306 532 n/d n/d -38,7% 73,9%

Accounts Receivable 570 642 651 807 847 12,6% 1,4% 24,0% 5,0%

Inventories 572 689 701 800 890 20,5% 1,7% 14,1% 11,3%

Recoverable Taxes 101 202 144 181 240 100,0% -28,7% 25,7% 32,6%

Other Current Assets 66 155 239 416 566 134,8% 54,2% 74,1% 36,1%

Others 66 155 239 416 566 134,8% 54,2% 74,1% 36,1%

Non-Current Assets 1.352 1.590 1.978 2.735 2.961 17,6% 24,4% 38,3% 8,3%

Long-Term Assets 671 627 738 818 679 -6,6% 17,8% 10,8% -17,0%

Deferred Taxes 180 141 196 194 148 -21,6% 38,8% -1,0% -23,7%

Income Tax and Social Contribution - Deferred 180 141 196 194 148 -21,6% 38,8% -1,0% -23,7%

Other Non-Current Assets 491 485 542 625 532 -1,1% 11,7% 15,3% -14,9%

Fixed-Asset 560 800 1.012 1.440 1.672 42,9% 26,5% 42,3% 16,1%

Intangible 120 163 229 477 609 35,8% 40,5% 108,3% 27,7%

Compare to previous year2010 2011 2012 2013 2014

11 vs 10 12 vs 11 13 vs 12 14 vs 13

Current Liabilities 1.178 1.275 2.415 2.327 3.119 8,2% 89,4% -3,6% 34,0%

Social and Labour Obligations 163 132 212 178 211 -18,9% 60,4% -16,1% 18,5%

Suppliers 366 489 650 707 600 33,4% 32,9% 8,7% -15,1%

Fiscal Liabilities 366 447 502 659 715 22,1% 12,2% 31,5% 8,5%

Loans and Financing 227 169 999 693 1.467 -25,4% 491,5% -30,7% 111,6%

Other Obligations 56 38 52 90 127 -32,4% 37,2% 73,3% 40,6%

Others 56 38 52 90 127 -32,4% 37,2% 73,3% 40,6%

Non-Current Liabilities 786 1.268 1.655 2.753 2.932 61,2% 30,5% 66,4% 6,5%

Loans and Financing 465 1.018 1.309 2.201 2.515 118,8% 28,6% 68,1% 14,3%

Other Obligations 215 141 177 216 99 -34,7% 26,1% 21,7% -54,1%

Others 215 141 177 216 99 -34,7% 26,1% 21,7% -54,1%

Provisions 106 110 168 337 319 3,3% 53,2% 100,3% -5,3%

Social Security, Labor and Civil Fiscal Provisions 74 65 63 74 76 -12,0% -2,6% 16,6% 2,6%

Other Provisions 32 45 105 263 243 38,2% 134,0% 150,8% -7,6%

Consolidated Stockholders' Equity 1.258 1.250 1.287 1.168 1.149 -0,6% 3,0% -9,3% -1,7%

Paid-in Share Capital 418 427 427 427 427 2,2% 0,0% 0,0% 0,0%

Capital Reserves 150 57 90 66 99 -61,6% 56,3% -26,0% 49,6%

Profit Reserves 713 783 803 659 639 9,8% 2,6% -17,9% -3,1%

Legal Reserve 19 19 19 19 19 0,0% 0,0% 0,0% 0,0%

Profit Retention Reserve 264 273 293 144 171 3,5% 7,2% -50,9% 18,5%

Additional Dividend Proposed 430 491 491 496 449 14,1% 0,1% 1,0% -9,5%

Equity Valuation Adjustment - - - 7- 41- n/d n/d n/d n/d

Other Comprehensive Income 23- 18- 32- - - -24,0% 84,0% -100,0% n/d

Non-Controlling Shareholders' Interest 0 0 0 23 25 0,0% 0,0% n/d 10,5%

Compare to previous year2010 2011 2012 2013 2014

0,510

0,7520,842

0,968

1,166

1,390

1,670

1,9181,992 2,007

1,649

72%

81% 77%

89%96%

87%

95% 99% 100% 100% 100%

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

Gross dividend + interest on capital R$ / share Payout Ratio (% net income)

Region

Direct Sales

2014 (%)