• Share
  • Email
  • Embed
  • Like
  • Save
  • Private Content
Apres 4 q11 eng
 

Apres 4 q11 eng

on

  • 309 views

 

Statistics

Views

Total Views
309
Views on SlideShare
249
Embed Views
60

Actions

Likes
0
Downloads
8
Comments
0

1 Embed 60

http://providencia.riweb.com.br 60

Accessibility

Categories

Upload Details

Uploaded via as Adobe PDF

Usage Rights

© All Rights Reserved

Report content

Flagged as inappropriate Flag as inappropriate
Flag as inappropriate

Select your reason for flagging this presentation as inappropriate.

Cancel
  • Full Name Full Name Comment goes here.
    Are you sure you want to
    Your message goes here
    Processing…
Post Comment
Edit your comment

    Apres 4 q11 eng Apres 4 q11 eng Presentation Transcript

    • 4Q 2011 and 2011 Results February 28th, 2012
    • SCHEDULE Providência USA HIGHLIGHTS RESULTS OUTLOOK Providência USA 2
    • HIGHLIGHTS 4Q 2011 Sales Volume amounted to 87.7 thousand tons in 2011, a growth of 11.7% in relation to thepreceding year. In 4Q11 we reported 23.0 thousand tons, 14.0% more than in 4Q10; Net Revenue reached R$ 526.6 million during the year, 16.2% more than 2010, basically reflectingan increase in sales volume. In 4Q11 we reached R$ 142.0 million, 22.5% more than in 4Q10; Gross Profits were R$ 161.4 million in 2011 and R$ 46.2 million in 4Q11, a 7.4% increase in theyear and 15.3% in the quarter; In November, the Company drew down the value on an export finance line from the BNDESamounting to R$ 50 million at an annual fixed rate of interest of 9.0%, repayable in 18 months; On November 25, the Company made an interim dividend payment of R$ 14.1 million, relating to100% of the adjusted net income for the first half of 2011 and, subject to approval by the AGM, isproposing the distribution of 100% of the annual adjusted dividend calculation base, equivalent toR$ 39.5 million, R$ 25.4 million of which will be paid out in 2012. 3
    • SCHEDULE Providência USA HIGHLIGHTS RESULTS OUTLOOK 4
    • SALES VOLUME (in thousands of tons) In 2011 the Company reported an increase in 23,0Total Sales Volume of 11.7% in relation to the 22,8 20,2preceding year; 1,2 1,6 2,4 19,0 21,2 20,6 87,8 78,6 7,5 4Q10 3Q11 4Q11 5,0 In 4Q11 we reported 23.0 thousand tons and sales of nonwovens grew 8.7% compared with 4Q10; 80,3 73,6 Our first production line in the US reached more than 1,000 tons sales/month, in line with the Company’s forecast for ramping up production, contributing to the increase in sales volume. 2010 2011 5 Nonwovens Others
    • NET REVENUE (in millions of Reais) Aggregate Net Revenue for fiscal year 2011reached R$ 526.6 million, a 16.2% increase inrelation to the R$ 453.3 million in 2010; 116,0 142,7 142,0 4Q10 3Q11 4Q11 In 4Q11 the Company’s Net Revenue was R$ 142.0 million, equivalent to a growth of 22.5% when compared with 4Q10; 526,6 453,3 This growth principally reflects an increase in sales volume, price realignment as well as greater use of production capacity which recorded a volume of 23 thousand tons in the quarter. 2010 2011 6
    • COGS (Cost of Goods Sold) (in millions of Reais) R$5,00 R$4,21 R$4,17R$3,77 COGS totaled R$ 95.8 million in 4Q11, an increase of 26.2% against 4Q10. For fiscal year 2011, the75,9 95,7 95,8 Company reported a 20.5% rise in relation to 2010; R$-4Q10 3Q11 4Q11 R$20,00 R$19,00 R$18,00 R$17,00 This was principally due to higher sales volume in R$16,00 R$15,00 R$14,00 R$13,00 R$12,00 R$11,00 2011 since on a unit COGS basis, the increase was R$10,00 R$9,00 R$8,00 R$7,00 R$4,16 R$6,00 R$5,00 R$4,00 R$3,86 only 7.9% in relation to 2010, a reflection of the R$3,00 R$2,00 R$1,00 R$- R$(1,00) R$(2,00) principal cost component, polypropylene, which R$(3,00) R$(4,00) R$(5,00) R$(6,00) R$(7,00) R$(8,00) 365,2 reported higher prices during the year under review. R$(9,00) R$(10,00) R$(11,00) R$(12,00) R$(13,00) 303,0 R$(14,00) R$(15,00) R$(16,00) R$(17,00) R$(18,00) R$(19,00) R$(20,00) R$(21,00) R$(22,00) R$(23,00) R$(24,00) R$(25,00) R$(26,00) R$(27,00) R$(28,00) R$(29,00) R$(30,00) R$(31,00) R$(32,00) R$(33,00) R$(34,00) R$(35,00) 2010 2011
    • 100,0 EBITDA (in millions of Reais) 80,0 and EBITDA Margin (%) 60,0 24,5% 23,0% The Adjusted EBITDA reached R$ 102.1 million in 20,5%2011 and totaled R$ 29.1 million in 4Q11, a growth 40,0of 2.2% when compared with the R$ 28.4 million 20,0reported in 4Q10; 28,4 32,8 29,1 - 4 23,4% 19,4% 4 3 3 2 2 1 1 4Q10 3Q11 4Q11 0 -1 -1 -2 -2 -3 -3 -4 -4 -5 -5 -6 -6 -7 -7 -8 -8 -9 -9 -10 -10 -11 -11 -12 -12 -13 -13 -14 -14 -15 -15 -16 -16 In 4Q11 EBITDA Margin amounted to 20.5%, 4.1 -17 -17 -18 -18 -19 -19 -20 p.p. down on 4Q10; -20 -21 -21 -22 -22 -23 106,2 -23 -24 102,1 -24 This year-on-year reduction is directly related -25 -25 -26 -26 -27 -27 -28 to: -28 -29 -29 -30 -30 -31 -31 -32 -32 -33 -33 • The increase in the prices of our main raw -34 -34 -35 -35 -36 -36 -37 -37 -38 -38 -39 -39 material, polypropylene. -40 -40 -41 -41 -42 -42 • The startup and adjustments in the US -43 -43 -44 -44 -45 -45 production line. 8 2010 2011
    • NET INCOME (in millions of Reais) 70,0% and NET MARGIN (%) 20,0 10,8% 20,0% Net Income for the year was R$ 29.5 million, an 4,8% 3,2%increase of 23.7% in relation to the preceding year; -30,0% 15,4 800,0% 750,0% 700,0% 650,0% 600,0% 550,0% 500,0% 5,6% 450,0% 400,0% 350,0% 5,6 4,6 5,3% 300,0% 250,0% 200,0% 150,0% 100,0% - 50,0% 0,0% -80,0% -50,0% -100,0% -150,0% -200,0% -250,0% -300,0% 4Q10 -350,0% -400,0% -450,0% -500,0% 3Q11 4Q11 -550,0% -600,0% -650,0% -700,0% -750,0% -800,0% Net Income Net Margin -850,0% -900,0% -950,0% -1000,0% -1050,0% -1100,0% -1150,0% -1200,0% -1250,0% -1300,0% -1350,0% -1400,0% -1450,0% -1500,0% -1550,0% -1600,0% -1650,0% -1700,0% -1750,0% -1800,0% -1850,0% -1900,0% -1950,0% -2000,0% -2050,0% -2100,0% -2150,0% -2200,0% -2250,0% -2300,0% -2350,0% -2400,0% The calculation base for the annual adjusted -2450,0% -2500,0% -2550,0% -2600,0% -2650,0% -2700,0% -2750,0% -2800,0% 29,5 -2850,0% -2900,0% -2950,0% -3000,0% -3050,0% dividends reached R$ 39.5 million reflecting the -3100,0% -3150,0% -3200,0% -3250,0% -3300,0% 23,8 -3350,0% -3400,0% -3450,0% -3500,0% -3550,0% -3600,0% -3650,0% -3700,0% realization of deemed cost and the reversal of a -3750,0% -3800,0% -3850,0% -3900,0% -3950,0% -4000,0% -4050,0% -4100,0% -4150,0% -4200,0% -4250,0% -4300,0% -4350,0% provision for the first Stock Option Plan. -4400,0% -4450,0% -4500,0% -4550,0% -4600,0% -4650,0% -4700,0% -4750,0% -4800,0% -4850,0% -4900,0% -4950,0% -5000,0% -5050,0% -5100,0% -5150,0% -5200,0% -5250,0% -5300,0% -5350,0% -5400,0% -5450,0% -5500,0% 2010 2011 9
    • CASH AND CASH EQUIVALENTS (in millions of Reais) The Company reported a reduction in its year-on-yearoutstanding Cash balance of 67.4% or R$ 168.0 millionand 74.9% or R$ 241.8 million against 3Q11; 300,0 250,0 This reduction is directly related to: • The strategy of reducing our Total Debt (early 200,0 settlement of R$ 106.5 million in debentures and 323,0 150,0 of R$ 152.6 million in contracts under the BNDES- 249,1 Exim Pre-Shipment Program) that consequently 100,0 reduced our Cash level; 50,0 • The down payment effected for the two lines 81,2 that will startup in 2012; - 4Q10 3Q11 4Q11 • Interim dividend payment of R$ 14.1 million. 10
    • NET DEBT (in millions of Reais) Net Debt recorded an increase of R$ 96.9 million, or 39.7%, in relation to 4Q10, the principal factor being additional funding for investments in the projects of new lines in Brazil and the USA; In 4Q11, the Company drew down the value on an export finance line from the BNDES amounting 340,8 304,5 to R$ 50 million at an annual fixed rate of interest 243,9 of 9.0%, repayable in 18 months. Resources from this line will be used by the Company for export operations; 4Q10 3Q11 4Q11 Of total debt, the Company has 35% in local currency and 65%, foreign currency denominated mainly in 11the US with natural hedge due to sales and assets in that country.
    • DEBT / CASH (in millions of Reais) Consolidated Net Debt Ch. 4Q11 /R$ (MM) 12/31/2010 12/31/2011 4Q10Total Debt Short Term 262,2 73,6 -71,9% Long Term 230,8 348,4 50,9%Total 493,1 422,0 -14,4%Cash 249,1 81,2 -67,4%Net Debt 243,9 340,8 39,7%Shareholders Equity 697,1 689,3 -1,1% 12
    • DIVIDENDS (in millions of Reais) Management is proposing payment of a dividend in addition to the minimum mandatory payment, of R$25.4 million, subject to resolution by the AGM. This will raise the Company’s dividend payout to 100% ofthe calculation base for adjusted annual dividends, totaling R$ 39.5 million for the 2011 fiscal year,equivalent to approximately an earnings per share of R$ 0,49. R$ 0,4945,0 R$ 0,5040,0 R$ 0,41 R$ 0,45 The calculation base corresponds to :35,0 R$ 0,40 R$ 0,3530,0 R$ 0,30 Net income for the fiscal year 2011 R$ 29.5 million R$ 0,3025,0 (-) Legal Reserve (5%) R$ 1.5 million R$ 0,25 (+) Realization of the Deemed cost: R$ 10.2 million20,0 39,5 R$ 0,20 Reversal of the provision for the (+)15,0 32,9 R$ 0,15 Stock Option Plan first R$ 1,3 million 24,2 Calculation base for the annual adjusted10,0 R$ 0,10 dividends R$ 39.5 million 5,0 R$ 0,05 0,0 R$ - 2009 2010 2011** Dividends Paid (R$ million) Dividend/Share ** To be ratified at the AGM 13
    • SCHEDULE Providência USA HIGHLIGHTS RESULTS OUTLOOK
    • OUTLOOK An increase in sales volume is expected for 2012 with the entry into operation in the 2nd quarter of the production line in Pouso Alegre (MG) and in the 4th quarter, the production line in Statesville (NC). The two projects are part of the scheduled expansion plan and will add a further 40 thousand tons to our current installed capacity - representing a 40% increase. KAMI 12 – Pouso Alegre/MG – February 2012 KAMI 13 – Statesville/NC – February 2012 15KAMI 13 – Statesville/NC
    • 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/ir www.twitter.com/providencia_riThe words “believe”, “anticipate”, “expect”, “estimate”, “will”, “plan”, “may”, “intend”, “foresee”, “project” and other similar expressions indicate forward-lookingstatements. These forward-looking statements involve uncertainties, risks and assumptions, since they include information related to our potential or assumed futureoperating results, business strategy, financing plans, competitive position in the market, industry environment, potential growth opportunities and the effects of futureregulations 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 futureperformance. Providência is under no obligation to update this presentation with new information and/or future events .