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February 27, 2013
4Q12 and 2012 Results
SCHEDULE
HIGHLIGHTS
RESULTS
OUTLOOK
2
Providência USA
Providência USA
Inauguration, in June, of our 2nd Production Line in Pouso Alegre, Minas Gerais, expanding the Company’s total capacity by 20%;
The consolidation of the investments resulted in a record Adjusted EBITDA of R$ 127.0 million for the year, 24.4% higher than 2011, and R$ 33.8 million in 4Q12, 16.3% more than for the same quarter in 2011;
Net Earnings, also record, amounted to R$ 45.1 million in 2012 and to R$ 11.3 million in 4Q12, an increase of 53.0% and of 143.8% respectively;
Net Cash Generation reached R$ 161.2 million, a 127.5% increase in relation to the previous year;
Subject to the approval of the AGM, the Company proposes the distribution of R$ 53.1 million, corresponding to 100% of the adjusted dividend calculation base for the year. Of this amount, R$ 19.3 million was paid in November/2012 and, subject to AGM approval, R$ 33.8 million will be paid in 2013.
HIGHLIGHTS 4Q12 & 2012
SCHEDULE
HIGHLIGHTS
RESULTS
OUTLOOK
4
20.6 23.6 22.8
2.3 2.5 2.1
22.9 26.1 24.9
4Q11 3Q12 4Q12
Nonwovens Others
Sales Volume amounted to
, a growth of 12.5% in relation to the preceding year,
reflecting the initial sales from the 2nd production line at
the Pouso Alegre plant, inaugurated in June/12.
80.3 90.1
7.5
8.6 87.8
98.7
2011 2012
SALES VOLUME (in thousands of tons)
526.6
608.6
- 20,0 40,0 60,0 80,0
100,0 120,0 140,0 160,0 180,0 200,0 220,0 240,0 260,0 280,0 300,0 320,0 340,0 360,0 380,0 400,0 420,0 440,0 460,0 480,0 500,0 520,0 540,0 560,0 580,0 600,0 620,0
2011 2012
Net Revenue reached R$ 152.8 million in 4Q12, a growth of
7.6% in relation to 4Q11. In 2012, Net Revenue reached R$
608.6 million, an increase of 15.6% against 2011. This growth
reflects the increase in Sales Volume and prices realignment.
6
142.0 166.7 152.8
4Q11 3Q12 4Q12
NET REVENUE (in millions of Reais)
95.8 114.3 105.4
R$ 4.19 R$ 4.39 R$ 4.23
R$-
R$5,00
4Q11 3Q12 4Q12
COGS (Cost of Goods Sold) (in millions of Reais)
7
365.2
423.1
R$ 4.16
R$ 4.29
-
20,0
40,0
60,0
80,0
100,0
120,0
140,0
160,0
180,0
200,0
220,0
240,0
260,0
280,0
300,0
320,0
340,0
360,0
380,0
400,0
420,0
440,0
460,0
2011 2012
The unit COGS in 4Q12 was stable compared to the 4Q11, small
change of 0.95%. In 2012, COGS was R$ 423.1 million, representing
an increase of 15.8% in relation to 2011. This increase is largely the
result of higher Sales Volume in 2012, since unit COGS recorded an
increase of only 3.1%.
29.1 36.1 33.8
20.5%
21.7%
22.1%
-
20,0
40,0
60,0
80,0
4Q11 3Q12 4Q12
Ebitda Ebitda Margin (%)
102.1
127.0
19.4% 20.9%
0 -
20,0
40,0
60,0
80,0
100,0
120,0
140,0
2011 2012
EBITDA (in millions of Reais) and EBITDA MARGIN (%)
Adjusted EBITDA reached the record of R$ 127.0 million in
2012, a 24.4% growth comparing to 2011, and R$ 33.8 million
in 4Q12, also a fourth quarter record.
8
Net Income totaled R$ 45.1 million in 2012, an increase of
comparing to 2011. For the 4Q12, the company reported
a total of R$ 11.3 million, 143.8% more than 4Q11;
4.6
18.9
11.3
3.2%
11.4%
7.4%
0,0% -
20,0
4Q11 3Q12 4Q12
Net Income Net Margin 9
NET INCOME (in millons of Reais)
and NET MARGIN(%)
25,0
29.5
45.1
5.6%
7.4%
0,0% -
20,0
40,0
2011 2012
340.8
450.0 451.6
4Q11 3Q12 4Q12
Net debt was stable compared to the 3Q12,
and increased by R$ 110.8 million in relation to
4Q11, the increase reflecting the funding of the
new machines in Brazil and in the USA;
The foreign currency named debt was mainly
borrowed in the USA with a natural hedge in
the form of Providência’s revenue flows and
assets in that country.
NET DEBT (in millions of Reais)
Local Currency
30%
70%
Foreign Currency
DEBT / CASH (in millions of Reais)
Consolidated Net Debt
11
R$ (MM) 12/31/2011 09/30/2012 12/31/2012 Ch. 4Q12 /
4Q11
Total Debt
Short Term 73.6 127.0 112.4 52.7%
Long Term 348.4 428.5 423.3 21.5%
Total 422.0 555.5 535.7 26.9%
Cash 81.2 105.5 84.1 3.7%
Net Debt 340.8 450.0 451.6 32.5%
Shareholders' Equity 689.3 697.8 690.0 0.1%
Net Debt / Adjusted EBITDA 3.3 3.7 3.6 7.8%
Net Debt / Adjusted EBITDA without the lines that startup in 2012
2.9 2.3 2.2 -22.2%
32.9 39.5
53.1
R$ 0.41 R$ 0.49
R$ 0.66
R$ (0,50)
R$ (0,30)
R$ (0,10)
R$ 0,10
R$ 0,30
R$ 0,50
8,0
2,0
12,0
22,0
32,0
42,0
52,0
2010 2011 2012**
Dividends Paid (R$ million) Dividend/Share
DIVIDENDS (in millions of Reais)
25,0
12
Subject to the resolution of the AGM, Management is proposing the distribution to 100% of
the adjusted dividend calculation base for the year, totaling R$ 53.1 million. Of this amount, R$
19.3 million was paid on November/2012.
This calculation base corresponds to :
Net Income for the financial year in 2012 R$ 45.1 million
(-) Legal Reserve (5%) R$ 2.2 million
(+) Realization of the deemed cost: R$ 10.2 million
Dividend Calculation Base R$ 53.1 million
** To be ratified at the AGM
Dividend Yield* Share Price / Book Value per Share
0,72 0,79 1,04
-
0,20
0,40
0,60
0,80
1,00
1,20
1,40
4Q11 3Q12 4Q12
MARKET VALUE RATIOS
25,0
* Dividend per Share / Share price at the end of the period.
5,54%
8,06% 7,37%
2010 2011 2012
Capital Markets 2012
R$ 6,20
R$ 8,95
R$5
R$6
R$7
R$8
R$9
Dec 11 Mar Jun Sep Dec 12
HIGHLIGHTS
RESULTS
OUTLOOK
SCHEDULE
The target for the second Statesville production line - the Company’s 13th – is to reach full
capacity on the second half of 2013 with a corresponding increase in Sales Volume. This unit
will ramp up Providência’s output by 20 thousand tons annually, doubling capacity in the
United States;
On 2013, Providência’s capacity reached 140 thousand tons/year, underscoring the
Company’s ranking as one of the leading and most modern players in the global nonwovens
industry.
15
OUTLOOK
São José dos Pinhais – PR
KAMI12: Second production line in Pouso Alegre (MG)
Production Capacity: 20 thousand tons/year
Unveiled in June/2012.
KAMI 13: Progress of the expansion project is running
to plan, doubling the Company’s US production
capacity.
Production Capacity: 20 thousand tons/year.
Inauguration: First quarter 2013
65 75 80 82 100
120 140
2007 2008 2009 2010 2011 2012 2013
PR
MG
NC
.
EXPANSION
*In thousands of tons
CEO: Hermínio V. S. de Freitas CFO: Eduardo Feldmann Costa IR : Gabriela Las Casas Beatriz Tokarski Tel: +55 (41) 3381-8673 Fax: +55 (41) 3283-5909 São José dos Pinhais – PR www.providencia.com.br/ri www.twitter.com/providencia_ri
17
The words “believe”, “anticipate”, “expect”, “estimate”, “will”, “plan”, “may”, “intend”, “foresee”, “project” and other similar expressions indicate forward-looking statements. These forward-looking statements involve uncertainties, risks and assumptions, since they include information related to our potential or assumed future operating results, business strategy, financing plans, competitive position in the market, industry environment, potential growth opportunities and the effects of future regulations and competition. In addition, forward-looking statements refer only to the date on which they were made and should not be taken as a guarantee of future performance. Providência is under no obligation to update this presentation with new information and/or future events .