Apresentação En Providência 4Q09

282 views
251 views

Published on

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
282
On SlideShare
0
From Embeds
0
Number of Embeds
62
Actions
Shares
0
Downloads
1
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Apresentação En Providência 4Q09

  1. 1. 4Q09 Results February 25th 2010
  2. 2. AGENDA HIGHLIGHTS RESULTS OUTLOOK 2
  3. 3. HIGHLIGHTS First year in which the Company’s Financial Statements originated exclusively from the nonwovens business. In preceding years the figures incorporated the pipes and fittings division and flexible packaging business. This is an important landmark event in Providência’s existence and indicative that its strategic plan is being consistently implemented ; Resumption of the project for building the Company’s first plant in the United States, with an installed capacity of 20 thousand tons of nonwovens and investments worth US$ 80 million; Interim dividend payment of R$ 10.5 million, corresponding to 50% of the accumulated net income in the first half of 2009; Standard & Poor’s maintained the rating assigned to both the Company and its debentures stable at brA following the annual review. 3
  4. 4. HIGHLIGHTS Recovery in sales volume in the quarter exceeded pre-world crisis level, our production reaching close to full capacity. 2009 Nonwovens: Ebitda: R$ 116.5 million Net Income: R$ 51.0 million Operating Cash Generation: R$ 120.9 million Cash: R$ 265.2 million Net Debt: R$ 153.2 million Dividends: R$ 24.2 million 4
  5. 5. AGENDA HIGHLIGHTS RESULTS OUTLOOK 5
  6. 6. SALES VOLUME (in thousand of tons) tons) The accumulated total for the year, excluding the pipes and fittings division, reported stability in spite of the “world crisis”; Growth of 5.1% in 4Q09 in relation to 4Q08; As from the second half, sales volumes recovered. 88,9 17,3 71,3 3,6 4,8 19,9 19,0 19,1 1,2 1,6 1,4 68,0 66,5 17,7 18,7 17,3 2008 2009 4Q08 3Q09 4Q09 6 Nonwovens Others Pipes and Fittings
  7. 7. NET REVENUE NONWOVENS DIVISION (in million Reais) For fiscal year 2009, we recorded a reduction of R$ 20.4 million compared with 2008, largely a reflection of currency variations; Net Income registered a reduction of R$ 15.2 million compared with 4Q08, again reflecting currency variations. On a 4Q09 vs 3Q09 comparative basis, there was an increase of 7.8% due to the increase in volume. 421,3 401,0 124,4 100,7 109,1 2008 2009 4Q08 3Q09 4Q09 7
  8. 8. COGS NONWOVENS DIVISION The 2009 vs 2008 decline of 16.4% reflects the adjustment in depreciation and reduction in raw material prices, the same factors explaining the variations between 4Q09 and 4Q08; The increase of 4Q09 vs 3Q09 is due basically to the adjustment in depreciation in 3Q09. 84,5 0 294,8 70,6 0 246,4 0 56,0 0 R$ 4,45 0 R$ 4,12 R$ 3,55 0 R$ 3,45 R$ 2,93 2008 2009 4Q08 3Q09 4Q09 COGS (R$ thousand) Unitary COGS (R$) 8
  9. 9. EBITDA (R$ million) and EBITDA Margin(%) EBITDA for the Nonwoven Division in fiscal year 2008 reported year on year growth of 8.1%, corresponding to an additional R$ 8.8 million, thanks to better margins; 4Q09 posted an improvement over 3Q09 principally in function of the greater volume, with better margins when comparing the two quarters. 0 116,5 33,3 107,8 31,8 0 26,1 0 29,1% 29,2% 0 26,8% 25,6% 25,9% 0 0 2008 2009 4Q08 3Q09 4Q09 2008 2009 Ebitda Ebitda Margin (%) 9
  10. 10. Net Earnings (R$ millions) and Net Margin (%) For the accumulated year 2009, net income was 26.6% higher than 2008. Note, that in 2008, results included the pipes and fittings division as well as the result of the division’s divestment; Net income in 4Q09 was less than recorded in 4Q08 when results included the sale of the Pipes and Fittings Division. In 3Q09 there was a positive adjustment for depreciation. 51,0 19,0 18,0 40,3 12,4% 17,4% 10,9 8,1% 15,0% 9,5% 2008 2009 4Q08 3Q09 4Q09 Net Earnings Net Margin (%) 10
  11. 11. CASH AND CASH EQUIVALENTS (in million Reais) The Company’s cash position increased R$ 29.9 million, equivalent to 12.7% compared with 2008, principally due to the improvement in operating margins, 265,2 better tax planning and improved 235,4 management of the working capital 2008 2009 accounts (inventory, accounts receivable and suppliers). 11
  12. 12. NET DEBT (in million Reais) The Company’s Net Debt fell sharply by 40.5%, compared with 2008, a reduction of R$ 104.1 million, the highlights being operating cash generation of R$ 120.9 257,3 million and a positive currency translation 153,2 effect; 72% of debt is local currency-based and 2008 2009 28% US Dollar denominated. 12
  13. 13. CASH & DEBT Consolidated Net Debt Var 2009 / R$ (MM) 12/31/2008 12/31/2009 2008 Total Debt Short Term 38.4 125.6 226.7% Long Term 454.2 292.8 -35.5% Total 492.7 418.4 -15.1% Cash 235.4 265.2 12.7% Net Debt 257.3 153.2 -40.5% Net Debt / Adjusted EBITDA 2.2 1.3 (0.9) Shareholders' Equity 471.6 506.9 7.5% 13
  14. 14. AGENDA HIGHLIGHTS RESULTS OUTLOOK 14
  15. 15. OUTLOOK Prospects for 2010 are for an increase in sales volume and operations running at full capacity given that nonwoven products are sold as a raw material for non-durable consumer goods. In turn the sale of such goods is directly related to monthly household income which has been reporting consistent growth for some time and should continue this trend in the coming years; The Company’s principal investment, the plant in the United States, is progressing in line with the forecasted schedule. We believe that it will be possible to maintain the initial forecast so that operations can begin in the first half of 2011. 15
  16. 16. CEO: Hermínio V. S. de Freitas CFO: Eduardo Feldmann Costa IR : Gizele Rigoni Tel: +55 (41) 3381-8673 Fax: +55 (41) 3283-5909 São José dos Pinhais – PR www.providencia.com.br/ir 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 . 16

×