CIECH reported record financial results for 2016, with adjusted EBITDA reaching PLN 877 million, a 17.2% increase over 2015. Key events included completing investments that increased soda ash and sodium silicate production capacity. The soda ash segment performed strongly due to higher sales volumes and prices. The organic segment saw higher crop protection product sales but lower resin revenues. CIECH aims to further develop specialized products, pursue investment projects, and maintain cost competitiveness across its business segments in the coming quarters.
Financial results for Q1 2017
- Revenues increased 8.7% to PLN 898 million due to higher soda ash volumes from investments and currency effects.
- EBITDA decreased 8.4% to PLN 186 million due to lower soda ash prices and higher energy costs.
- Net profit decreased 23.6% to PLN 78 million mainly from lower soda ash margins.
- Outlook remains positive with plans to expand internationally, develop specialized products, and optimize costs.
This document summarizes the financial results of CIECH for 2015. Key highlights include:
- Revenue increased 0.9% to PLN 3.27 billion while adjusted EBITDA grew 46.4% to PLN 748 million, driven by higher soda prices and sales volumes as well as lower energy costs.
- Net profit increased 108% to PLN 346 million due to improved operating performance and significant decrease in financing costs from debt refinancing.
- All business segments saw increases in profits and margins except for the glass and silicates segment which was impacted by the end of a trading contract.
- The outlook for 2016 remains positive but faces challenges from the soda market environment and energy prices.
- Revenues for Q3 2017 were slightly lower than the previous year at PLN 836 million. EBITDA was also lower at PLN 178 million.
- The Soda segment saw higher soda sales volumes but lower prices. The Organic segment had higher sales of crop protection chemicals.
- Key investments in the future include expanding sodium bicarbonate and salt product portfolios and continuing R&D in resins and crop protection chemicals.
- For the full 9 months of 2017, revenues increased 2.8% to PLN 2.6 billion while costs of sales rose 10.8%, reducing the gross profit.
The document summarizes the financial results of CIECH Group for the first quarter of 2016. Key points include:
- Revenue increased 1.1% to PLN 826 million driven by higher soda ash volumes and favorable currency exchange rates.
- EBITDA grew 7.0% to PLN 206 million and the EBITDA margin expanded 1.4 percentage points to 25.0% due to lower energy and raw material costs.
- Net profit more than doubled to PLN 102 million mainly from higher soda ash prices and sales volumes along with cost savings.
Financial results for the first half of 2016 were positive for CIECH S.A.:
- Revenue grew 2.1% year-over-year and adjusted EBITDA increased 14.0% due to higher sales volumes and favorable currency exchange rates.
- The adjusted EBITDA margin expanded to 25.6% from 23.0% in the prior year period.
- For the second half of the year, CIECH S.A. expects continued implementation of investment projects and challenges from volatility in raw material prices and currency exchange rates.
Financial results for H1 2017
Revenues for H1 2017 were PLN 1,781 million, up 5.2% year-on-year. Adjusted EBITDA was PLN 379 million, down 12.8% year-on-year due to planned production downtime and higher energy costs. The soda segment achieved revenues of PLN 619 million, down 3.9% year-on-year. The organic segment saw revenues rise 11.9% to PLN 226 million due to higher crop protection chemical sales. CIECH is continuing key investments in sodium bicarbonate production in Germany, expanding its salt product portfolio in Poland, and environmental protection investments.
CIECH is a leading Polish chemical company with over 70 years of experience in world markets. It has 8 production plants across Poland, Germany and Romania and over 3,700 employees. CIECH operates across four business segments: soda, organic, silicates and glass, and transport. In recent years, CIECH has optimized operations, invested in new projects, and refinanced debt to significantly increase profits. Looking ahead, CIECH aims to further grow its soda segment, expand in organic chemicals like plant protection, and pursue other investment and modernization projects to continue its stable development.
CIECH reported financial results for the first three quarters of 2016, with adjusted EBITDA rising 11.5% year-over-year to PLN 646.9 million. Revenue increased 3.6% to PLN 2,547.5 million. The soda segment performed well due to higher sales volumes and prices as well as lower energy costs. While some segments faced challenges like lower sales volumes, overall the company exceeded consensus forecasts for revenue and profits. CIECH expects further revenue growth through expanding product portfolios and global markets in coming quarters.
Financial results for Q1 2017
- Revenues increased 8.7% to PLN 898 million due to higher soda ash volumes from investments and currency effects.
- EBITDA decreased 8.4% to PLN 186 million due to lower soda ash prices and higher energy costs.
- Net profit decreased 23.6% to PLN 78 million mainly from lower soda ash margins.
- Outlook remains positive with plans to expand internationally, develop specialized products, and optimize costs.
This document summarizes the financial results of CIECH for 2015. Key highlights include:
- Revenue increased 0.9% to PLN 3.27 billion while adjusted EBITDA grew 46.4% to PLN 748 million, driven by higher soda prices and sales volumes as well as lower energy costs.
- Net profit increased 108% to PLN 346 million due to improved operating performance and significant decrease in financing costs from debt refinancing.
- All business segments saw increases in profits and margins except for the glass and silicates segment which was impacted by the end of a trading contract.
- The outlook for 2016 remains positive but faces challenges from the soda market environment and energy prices.
- Revenues for Q3 2017 were slightly lower than the previous year at PLN 836 million. EBITDA was also lower at PLN 178 million.
- The Soda segment saw higher soda sales volumes but lower prices. The Organic segment had higher sales of crop protection chemicals.
- Key investments in the future include expanding sodium bicarbonate and salt product portfolios and continuing R&D in resins and crop protection chemicals.
- For the full 9 months of 2017, revenues increased 2.8% to PLN 2.6 billion while costs of sales rose 10.8%, reducing the gross profit.
The document summarizes the financial results of CIECH Group for the first quarter of 2016. Key points include:
- Revenue increased 1.1% to PLN 826 million driven by higher soda ash volumes and favorable currency exchange rates.
- EBITDA grew 7.0% to PLN 206 million and the EBITDA margin expanded 1.4 percentage points to 25.0% due to lower energy and raw material costs.
- Net profit more than doubled to PLN 102 million mainly from higher soda ash prices and sales volumes along with cost savings.
Financial results for the first half of 2016 were positive for CIECH S.A.:
- Revenue grew 2.1% year-over-year and adjusted EBITDA increased 14.0% due to higher sales volumes and favorable currency exchange rates.
- The adjusted EBITDA margin expanded to 25.6% from 23.0% in the prior year period.
- For the second half of the year, CIECH S.A. expects continued implementation of investment projects and challenges from volatility in raw material prices and currency exchange rates.
Financial results for H1 2017
Revenues for H1 2017 were PLN 1,781 million, up 5.2% year-on-year. Adjusted EBITDA was PLN 379 million, down 12.8% year-on-year due to planned production downtime and higher energy costs. The soda segment achieved revenues of PLN 619 million, down 3.9% year-on-year. The organic segment saw revenues rise 11.9% to PLN 226 million due to higher crop protection chemical sales. CIECH is continuing key investments in sodium bicarbonate production in Germany, expanding its salt product portfolio in Poland, and environmental protection investments.
CIECH is a leading Polish chemical company with over 70 years of experience in world markets. It has 8 production plants across Poland, Germany and Romania and over 3,700 employees. CIECH operates across four business segments: soda, organic, silicates and glass, and transport. In recent years, CIECH has optimized operations, invested in new projects, and refinanced debt to significantly increase profits. Looking ahead, CIECH aims to further grow its soda segment, expand in organic chemicals like plant protection, and pursue other investment and modernization projects to continue its stable development.
CIECH reported financial results for the first three quarters of 2016, with adjusted EBITDA rising 11.5% year-over-year to PLN 646.9 million. Revenue increased 3.6% to PLN 2,547.5 million. The soda segment performed well due to higher sales volumes and prices as well as lower energy costs. While some segments faced challenges like lower sales volumes, overall the company exceeded consensus forecasts for revenue and profits. CIECH expects further revenue growth through expanding product portfolios and global markets in coming quarters.
The document provides a summary of CIECH Group's financial results for the 2017 fiscal year (2017FY) and the fourth quarter of 2017. Some key highlights include total revenues of PLN 3,579 million for 2017FY, adjusted EBITDA of PLN 808 million for 2017FY, and adjusted EBITDA margin of 22.6% for 2017FY. The soda ash and salt segment saw higher sales volumes but lower prices. The organic segment had record sales in crop protection chemicals. Costs increased for some raw materials. Currency fluctuations negatively impacted results.
This document summarizes HeidelbergCement's third quarter 2016 results. Key points include:
- Operating EBITDA increased 2% and operating income increased 4% compared to the prior year on a like-for-like basis.
- Integration of the Italcementi acquisition is progressing faster than planned, with synergies above €400 million already achieved.
- Volumes increased across all business lines (cement, aggregates, ready-mix concrete, asphalt) in all regions.
- Margin improvement programs like the "Competence Center RMC" aim to further boost margins over the next few years.
- The outlook for 2016 is confirmed despite some challenging market conditions.
Presentation of the CEO Dr. Bernd Scheifele, Annual General Meeting 2017HeidelbergCement
The document discusses HeidelbergCement's annual general meeting in 2017. It summarizes that in 2016, HeidelbergCement strengthened its position through acquiring Italcementi, achieved an investment grade rating, and increased results. Key financial figures for 2016 show revenue growth due to the acquisition and increased profits. An outlook expects further growth in 2017 despite challenging market conditions.
The document summarizes Enea CG's financial and operational results for Q1 2016. Key points include:
- Sales volumes and revenue grew compared to Q1 2015 across most business areas.
- EBITDA increased 31.3% to PLN 668.3 million due to growth in distribution, generation, and mining.
- LW Bogdanka mining volumes complied with production plans and were higher than Q1 2015. EBITDA grew 20% despite a coal price drop.
- Cost optimization initiatives resulted in PLN 86 million in savings in Q1 2016, focusing on business process efficiency and outsourcing rationalization.
This document provides an overview and results for HeidelbergCement for 2016. Key points include:
- Volumes increased across all business lines, with cement volumes up 3%, aggregates up 3%, and ready-mix up 1%. Operating EBITDA and income grew organically by 5% and 6% respectively.
- Results were mixed by region, with strong growth in North America offset by pressure in Southern Europe and weather impacts elsewhere. Integration of Italcementi assets is ongoing.
- An outlook for 2017 forecasts continued volume growth, with a focus on cost efficiency and improving profitability of recently acquired assets. Net debt is expected to remain below €9 billion.
HeidelbergCement achieved its key operational and financial targets for 2014. Revenue increased 4% to €12.6 billion and operating EBITDA increased 3% to €2.3 billion. Net debt was significantly reduced through the successful disposal of the building products business for over €1.2 billion. The dividend was proposed to increase 25% to €0.75 per share. For 2015, double digit percentage increases are expected in revenue, operating income and net income, and net debt/EBITDA is targeted to remain below 2.8x.
ES-SYSTEM Presentation of data for Q3 2016ES-SYSTEM
The document provides financial data and analysis for ES-SYSTEM Capital Group for the first three quarters of 2016. It notes a 3.5% decrease in net revenues year-over-year. Net profit decreased 81.6% to 1.3 million PLN. Export sales increased 13.3% while domestic sales decreased 7.1%, influenced by declines in the construction market. Management expects further sales declines in Q4 2016 but hopes for market recovery in 2017. Capital expenditures for 2016 are planned to total approximately 10 million PLN.
This document contains certain forward-looking information that is subject to a number of factors that may influence the accuracy of the statements and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately prove to be accurate; accordingly, the Company makes no representation or warranty as to the accuracy of such information or the likelihood that the Company will perform as projected.
The document provides an overview of HeidelbergCement's half year 2016 results. Key points include:
- Solid start to the year with volume increases across all business lines and an 8.5% increase in operating EBITDA.
- Net debt was reduced to €5.9 billion while leverage decreased to 2.2x.
- 45% of Italcementi shares have been acquired and the mandatory takeover offer for the remaining shares will begin at the end of August.
- Regional results were positively reported across most areas with particularly strong performance in North America where margins continued to improve.
HeidelbergCement reported its 2015 full year results and 2016 outlook. Key points:
- 2015 was the best year since the financial crisis with EBITDA up 14% to €2.6 billion and group profit up 65% to €800 million.
- Net debt was reduced to €5.3 billion, significantly below the target of 2.5x leverage.
- The Italcementi acquisition remains on track with synergy potential increased to €400 million.
- Outlook for 2016 is for mid to high single digit organic growth in revenues, EBITDA, and operating income.
2012 fourth quarter and preliminary full year resultsEni
eni reported its 2012 fourth quarter and preliminary full year results. Some key points:
- Production increased to 1.747 million boe/day in Q4 2012, up from 1.678 million boe/day in Q4 2011.
- Adjusted net profit was €1.518 billion in Q4 2012, down slightly from €1.575 billion in Q4 2011.
- Net debt was reduced by over €12 billion from end 2011 to end 2012 through asset sales and cash flow.
- Production is forecast to increase over 3% in 2013 at $90 per barrel, with progress on key project start-ups.
The document provides a summary of CIECH Group's financial results for the 2017 fiscal year (2017FY) and the fourth quarter of 2017. Some key highlights include total revenues of PLN 3,579 million for 2017FY, adjusted EBITDA of PLN 808 million for 2017FY, and adjusted EBITDA margin of 22.6% for 2017FY. The soda ash and salt segment saw higher sales volumes but lower prices. The organic segment had record sales in crop protection chemicals. Costs increased for some raw materials. Currency fluctuations negatively impacted results.
This document summarizes HeidelbergCement's third quarter 2016 results. Key points include:
- Operating EBITDA increased 2% and operating income increased 4% compared to the prior year on a like-for-like basis.
- Integration of the Italcementi acquisition is progressing faster than planned, with synergies above €400 million already achieved.
- Volumes increased across all business lines (cement, aggregates, ready-mix concrete, asphalt) in all regions.
- Margin improvement programs like the "Competence Center RMC" aim to further boost margins over the next few years.
- The outlook for 2016 is confirmed despite some challenging market conditions.
Presentation of the CEO Dr. Bernd Scheifele, Annual General Meeting 2017HeidelbergCement
The document discusses HeidelbergCement's annual general meeting in 2017. It summarizes that in 2016, HeidelbergCement strengthened its position through acquiring Italcementi, achieved an investment grade rating, and increased results. Key financial figures for 2016 show revenue growth due to the acquisition and increased profits. An outlook expects further growth in 2017 despite challenging market conditions.
The document summarizes Enea CG's financial and operational results for Q1 2016. Key points include:
- Sales volumes and revenue grew compared to Q1 2015 across most business areas.
- EBITDA increased 31.3% to PLN 668.3 million due to growth in distribution, generation, and mining.
- LW Bogdanka mining volumes complied with production plans and were higher than Q1 2015. EBITDA grew 20% despite a coal price drop.
- Cost optimization initiatives resulted in PLN 86 million in savings in Q1 2016, focusing on business process efficiency and outsourcing rationalization.
This document provides an overview and results for HeidelbergCement for 2016. Key points include:
- Volumes increased across all business lines, with cement volumes up 3%, aggregates up 3%, and ready-mix up 1%. Operating EBITDA and income grew organically by 5% and 6% respectively.
- Results were mixed by region, with strong growth in North America offset by pressure in Southern Europe and weather impacts elsewhere. Integration of Italcementi assets is ongoing.
- An outlook for 2017 forecasts continued volume growth, with a focus on cost efficiency and improving profitability of recently acquired assets. Net debt is expected to remain below €9 billion.
HeidelbergCement achieved its key operational and financial targets for 2014. Revenue increased 4% to €12.6 billion and operating EBITDA increased 3% to €2.3 billion. Net debt was significantly reduced through the successful disposal of the building products business for over €1.2 billion. The dividend was proposed to increase 25% to €0.75 per share. For 2015, double digit percentage increases are expected in revenue, operating income and net income, and net debt/EBITDA is targeted to remain below 2.8x.
ES-SYSTEM Presentation of data for Q3 2016ES-SYSTEM
The document provides financial data and analysis for ES-SYSTEM Capital Group for the first three quarters of 2016. It notes a 3.5% decrease in net revenues year-over-year. Net profit decreased 81.6% to 1.3 million PLN. Export sales increased 13.3% while domestic sales decreased 7.1%, influenced by declines in the construction market. Management expects further sales declines in Q4 2016 but hopes for market recovery in 2017. Capital expenditures for 2016 are planned to total approximately 10 million PLN.
This document contains certain forward-looking information that is subject to a number of factors that may influence the accuracy of the statements and the projections upon which the statements are based.
There can be non assurance that the projections or forecasts will ultimately prove to be accurate; accordingly, the Company makes no representation or warranty as to the accuracy of such information or the likelihood that the Company will perform as projected.
The document provides an overview of HeidelbergCement's half year 2016 results. Key points include:
- Solid start to the year with volume increases across all business lines and an 8.5% increase in operating EBITDA.
- Net debt was reduced to €5.9 billion while leverage decreased to 2.2x.
- 45% of Italcementi shares have been acquired and the mandatory takeover offer for the remaining shares will begin at the end of August.
- Regional results were positively reported across most areas with particularly strong performance in North America where margins continued to improve.
HeidelbergCement reported its 2015 full year results and 2016 outlook. Key points:
- 2015 was the best year since the financial crisis with EBITDA up 14% to €2.6 billion and group profit up 65% to €800 million.
- Net debt was reduced to €5.3 billion, significantly below the target of 2.5x leverage.
- The Italcementi acquisition remains on track with synergy potential increased to €400 million.
- Outlook for 2016 is for mid to high single digit organic growth in revenues, EBITDA, and operating income.
2012 fourth quarter and preliminary full year resultsEni
eni reported its 2012 fourth quarter and preliminary full year results. Some key points:
- Production increased to 1.747 million boe/day in Q4 2012, up from 1.678 million boe/day in Q4 2011.
- Adjusted net profit was €1.518 billion in Q4 2012, down slightly from €1.575 billion in Q4 2011.
- Net debt was reduced by over €12 billion from end 2011 to end 2012 through asset sales and cash flow.
- Production is forecast to increase over 3% in 2013 at $90 per barrel, with progress on key project start-ups.
The Hera Group approved positive third quarter 2016 results, with improvements in key economic indicators. Revenues decreased 4.4% to €3.1 billion due to regulatory changes and lower energy prices. However, EBITDA increased 1.6% to €650.6 million through contributions from new acquisitions and growth in electricity. Net profits for shareholders rose 13.8% to €142.2 million through improved financial management and lower debt. Investments totaled over €250 million to support infrastructure upgrades and expansion, while the net financial position improved to €2.6 billion.
Ramirent's Half Year Financial Report 2016Annika Berg
- Net sales and comparable EBITA increased slightly in the first half of 2016 compared to the previous year. Net sales grew by 5.1% to 315.4 MEUR and comparable EBITA grew by 3.5 MEUR to 24.8 MEUR.
- Sales growth continued in the second quarter, with net sales up 6.3% to 169.4 MEUR compared to Q2 2015. Comparable EBITA increased slightly to 17.5 MEUR.
- By segment, Finland saw double-digit sales growth and improved profitability in Q2. Sweden had sales growth of 9.3% but lower comparable EBITA due to relocation costs and credit losses. Norway
The document provides an overview of Enea Group's financial and operational results for Q4 2016 and full year 2016. Some key points:
- In 2016, Enea Group generated over PLN 11 billion in revenue and PLN 1.1 billion in EBIT. Net profit was PLN 849 million.
- By segment, distribution contributed the most to EBITDA at 47.7% of the total. Mining and generation each contributed around 25% and 22% respectively.
- Operational highlights included a 6.8% increase in coal production and a 5.6% increase in electricity sales. Financial results improved compared to 2015.
- The strategy implementation and key initiatives in 2016
The document appears to be the agenda and presentation for Recticel's annual ordinary shareholders meeting on 26 May 2015. It includes a discussion of Recticel's 2014 consolidated and combined results, a 1Q2015 trading update, a dividend proposal and outlook for 2015, and an update on Recticel's strategy. The agenda also lists resolutions that will be covered during the meeting.
The document appears to be the agenda and presentation for Recticel's annual ordinary shareholders meeting on 26 May 2015. It includes a discussion of Recticel's 2014 consolidated and combined results, a 1Q2015 trading update, a dividend proposal and outlook for 2015, and an update on Recticel's strategy. The agenda also includes resolutions to be voted on and an appendix. Olivier Chapelle, the Chief Executive Officer, will discuss the financial results and outlook, while Etienne Davignon, the Chairman, will discuss the resolutions on the agenda.
Roadshow Presentation W10 2010 Final 100304BE Group Eesti
BE Group Eesti on BE Group’i tütarfirma, mis on Skandinaaviamaades juhtiv terast, roostevaba terast ja alumiiniumi turustav ning erinevaid teenuseid pakkuv äriühing, mille tegevus laieneb Kesk- ja Ida-Euroopasse. Sõltumatu firmana pakume tööstusettevõtetele terase, roostevaba terase ning alumiiniumtoodete eeltöötlust ja turustamist
ZKsync airdrop of 3.6 billion ZK tokens is scheduled by ZKsync for next week.pdfSOFTTECHHUB
The world of blockchain and decentralized technologies is about to witness a groundbreaking event. ZKsync, the pioneering Ethereum Layer 2 network, has announced the highly anticipated airdrop of its native token, ZK. This move marks a significant milestone in the protocol's journey, empowering the community to take the reins and shape the future of this revolutionary ecosystem.
Methanex is the world's largest producer and supplier of methanol. We create value through our leadership in the global production, marketing and delivery of methanol to customers. View our latest Investor Presentation for more details.
UnityNet World Environment Day Abraham Project 2024 Press ReleaseLHelferty
June 12, 2024 UnityNet International (#UNI) World Environment Day Abraham Project 2024 Press Release from Markham / Mississauga, Ontario in the, Greater Tkaronto Bioregion, Canada in the North American Great Lakes Watersheds of North America (Turtle Island).
Cleades Robinson, a respected leader in Philadelphia's police force, is known for his diplomatic and tactful approach, fostering a strong community rapport.
2. 2
2016 – executive summary
Financial results for 2016
PLN 877 m
Adj. EBITDA
Sale of additional volumes of soda ash under the Soda +200
investment
Completion of the investment in the increase of production capacity
of glassy sodium silicate at CIECH Vitrosilicon
Intensified sales of AGRO products abroad
Development of the product portfolio in terms of salt and baking soda
CIECH S.A. has been listed on the Frankfurt Stock Exchange since
23rd August 2016 (dual listing)
25,4%
Adj. EBITDA margin
+17,2%
Adj. EBITDA growth
EBITDA (Z) – adjusted for untypical one-off events: valuation of investment property at fair value: PLN 14.3 million; costs of unused production capacity: PLN -4.8 million; costs of written-off development
activities: PLN -2.2 million; gain on disposal of non-financial non-current assets: PLN 2.0 million; change in impairment losses on assets: PLN -1.5 million; other: PLN -0.8 million.
3. 1. Most important events of 2016
2. Financial results for 2016
3. Outlook for next quarters
4. 4
Soda segment
Most important events of 2016
Securing of
technological steam
deliveries in
Romania
Intensification of
production and
effective sales of
dry salt (mainly salt
tablets)
Completion of the Soda+200 investment and effective
sales of additional soda ash volumes
Maintenance of attractive
contract prices of soda sold
from Poland and Germany
Branding of soda products
Strengthening of relationships
with customers
Development of specialized
products in the scope of salt
and baking soda
5. 5
Organic segment
Most important events of 2016
Growth in foreign sales of AGRO products – yoy growth of export revenue
doubles
Effective pre-season sales
in Q4 2016
Taking part in the process of potential transaction of purchase
companies from SAPEC group, concerned with the production
of crop protection products and supplements for plants
Improved profitability
of resins through
portfolio optimization
towards products with
higher margins
Expansion of AGRO sales structures in Poland
Successive registration
of products in Poland
and abroad
New ZIEMOVIT product line
6. 6
Silicates and glass segment
Most important events of 2016
Completion of
investments and
enhancement of sodium
silicate production
capacity at CIECH
Vitrosilicon
Introduction of new lantern product lines
(change of product portfolio structure)
Commencement
of long-term
contract with
Solvay
Higher silicate production efficiency in
Romania thanks to modernization of the
production system in 2015
Very high competition in the
segment of glass packaging
7. 1. Most important events of 2016
2. Financial results for 2016
3. Outlook for next quarters
8. 8
Record adj. EBITDA
[PLN million] 2016 2015 yoy 4Q2016 4Q2015 yoy
Revenue 3 455 3 273 5.6% 908 815 11.5%
Gross profit on sales 1 040 866 20.1% 281 214 31.5%
Gross profit on sales margin 30.1% 26.4% 3,7 p.p. 30.9% 26.2% 4,7 p.p.
EBIT 660 490 34.8% 162 109 48.1%
EBIT margin 19.1% 15.0% 4.1 p.p. 17.9% 13.4% 4,5 p.p.
EBITDA 884 708 24.9% 222 165 34.4%
EBITDA margin 25.6% 21.6% 4.0 p.p. 24.4% 20.3% 4,1 p.p.
Adjusted EBITDA 877 748 17.2% 230 169 36.5%
Adjusted EBITDA margin 25.4% 22.9% 2.5 p.p. 25.3% 20.7% 4.6 p.p.
Net result* 594 346 71.7% 174 88 98.3%
Net margin* 17.2% 10.6% 6.6 p.p. 19.2% 10.8% 8.4 p.p.
Financial results for 2016
EBITDA (Z) – adjusted for untypical one-off events: valuation of investment property at fair value: PLN 14.3 million; costs of unused production capacity: PLN -4.8 million; costs of written-off development
activities: PLN -2.2 million; gain on disposal of non-financial non-current assets: PLN 2.0 million; change in impairment losses on assets: PLN -1.5 million; other: PLN -0.8 million.
* Net result for 2016 was also affected by one-off (91 mln PLN) as recognition of additional deferred tax asset connected with business operation in the area of the Pomeranian Special Economic Zone by
subsidiary (CIECH Soda Polska)
9. 9
Results vs. consesnsus
Financial results for 2016
[mln PLN] Q4 2016 Consesnsus Q4 2016 Range of forecasts Q4
Revenues 908 866 825 – 900
EBIT 162 159 148 – 171
EBIT margin 17.9% 18,4% 17.2% - 19.6%
EBITDA 222 215 203 - 225
EBITDA margin 24.4% 24.9% 23.6% - 26.3%
Adjusted EBITDA 230 215 203 - 225
Adjusted EBITDA margin 25.3% 24.9% 23.6% - 26.3%
Net result 174 125 108 – 157
Net margin 19.2% 14.4% 12.5% - 17.9%
Consesnsus PAP from 03/17/2017 based on 8 analysts’ foreceasts
10. 10
Soda segment
Financial results for 2016
+9.1%
Revenues [mPLN] Q1 Q2 Q3 Q4
536 590
557 614
575
606
575
637
2 242
2 447
2015 2016
+22.0%
Adj. EBITDA [mPLN]
156 181
155
207
182
198
157
208651
794
2015 2016
Positive:
Higher volumes of soda sales thanks to Soda+200 investment
Maintenance of attractive selling prices of soda from Poland and
Germany
Change of offered product assortment
Favorable currency situation – weakening of PLN and RON
Lower prices of furnace fuel (coke) and energy carriers (coal, gas)
for most of the year
Higher production efficiency, lower environmental costs (CO2)
Growth in dry salt (mainly salt tablets) sales volume due to
growing demand and enlargement of market share; maintenance
of sales volume prices despite strong competition
Negative:
Lower sales volume from Romania, mainly as a consequence of
shutting down the installation in August and growth in
technological steam prices
Poor conditions in the Chinese soda ash market resulting in the
maintenance of low prices offered by Chinese soda suppliers in
overseas markets in which the CIECH Group operates (during the
first six months of the year)
Share in total revenues (main products)
Dense soda ash 41.5%
Light soda ash 13.0%
Salt 5.2%
Sodium bicarbonate 4.7%
11. 11
Organic segment
Financial results for 2016
-0.5%
Q1 Q2 Q3 Q4
224 185
209
202
154
175
183 204
770 766
2015 2016
-7.2%
33
20
18
19
10
11
24
30
86
80
2015 2016
Positive:
Crop protection products – higher sales in Q3, mainly thanks to
glyphosate sales (in connection with favorable weather
conditions); effective pre-season sales in Q4
Resins – growth in margin thanks to the intensification of the
manufacture of products for specialized applications;
development of saturated polyester resin sales
Foams – growth in the sales volume as a result of an increase in
demand from upholstery furniture and mattress producers;
improved production efficiency
Negative:
Crop protection products – lower yoy sales due to a drop in the
domestic market
(-5.4% sezon to sezon), source: PASM); shift in accounting of EU
subsidies for farmers; drop in agricultural production
profitability; freezing weather in Q1
Resins – lower revenues from unsaturated polyester resin sales
(due to the lack of EU subsidies); aggressive price competition
due to significant pressure from Asian manufacturers
Foams – reduction in average market prices caused by the
aggressive actions of competitors (slowed by the rise in prices of
primary raw materials in mid-2016)
Share in total revenues (main products)
Resins 8.6%
PUR foams 7.1%
Crop protection chemicals 6.0%
Revenues [mPLN] Adj. EBITDA [mPLN]
12. 12
Silicates and glass segment
Financial results for 2016
+8.7%
Q1 Q2 Q3 Q4
37 38
50 36
51
63
38
54
175 190
2015 2016
+3.6%
7.5 6.3
10.4
8.1
10.7
12.7
4.8 7.6
33.5 34.7
2015 2016
Positive:
Silicates – higher sales volume of sodium silicates from the new
furnace; improvement of sodium silicate sales in Romania as a
result of the modernization of the production installation
implemented in 2015 and 2016; stable sales of potassium
silicates despite a standstill in the segment of oil and gas
exploration
Lanterns – stabilization in the market of lanterns for vigil lights at
the level of 2015.
Jars – change of assortment (introduction of new product
patterns)
Favourable influence of weakening of PLN against EUR
Negative:
Silicates – standstill connected with the switching from the old
to a new sodium silicate production furnace and start-up of the
installation; aggressive activities of the competitors in the
sodium silicate market due to a significant underuse of the
production capacity
Lanterns – oversupply of lanterns on the market, greater
discounting by the competition, increased supply of imported
glass
Jars – further price pressure, high quality requirements
Share in total revenues (main products)
Sodium silicates 3.1%
Potasium silicates 0.1%
Packaging glass 2.2%
Revenues [mPLN] Adj. EBITDA [mPLN]
13. 13
Transport segment
Financial results for 2016
-2.8%
Q1 Q2 Q3 Q4
29 32
34 31
31 25
29 31
123 119
2015 2016
+9.9%
4.0 3.9
3.9
2.7
3.2 4.8
1.7
2.6
12.7
14.0
2015 2016
Positive:
Takeover of coal dust and coke deliveries for CIECH Soda
Polska from external contractors
Takeover of railway siding service at CIECH Sarzyna from
external contractors
Negative:
Suspension of infrastructural investments and lower sales of
services outside the Group (transport of aggregates)
Shrinking of the railway market, as measured by the weight
of freight shipped in 2016 (by 1.1% YOY)
Lower shipments of coal (due to energy reserves) and
aggregates (slowdown in the industry due to delays in
procurement proceedings for road and railway investments)
Hampered development of shipping activity due to overhauls
in the PLK network
Discontinuation of CIECH Transclean activity at the end of Q2
Revenues [mPLN] Adj. EBITDA [mPLN]
14. 14
Debt
1 261
1 479
1 213 1 183
1 361
1 197
3.9
3.5
2.7
2.3
1.8
1.4
2011 2012 2013 2014 2015 2016
Net debt [mPLN] Net debt / Adj. EBITDA
[thousand PLN] At the end of 2016 At the end of 2015
Debt ratio 60.8% 66.0%
Long-term debt ratio 37.7% 46.7%
Equity capital debt ratio 155,3% 194,5%
Gross financial liabilities 1 610 867 1 564 247
Net financial liabilities 1 196 498 1 361 312
The Group systematically
reduces its debt. At the end
of 1H16, the net debt index /
EBITDA (Adj.) amounted to
1.4
Thanks to the refinancing of
the debt, the Group’s costs of
debt servicing were much
lower in 2016
Methodology of calculated ratios consistent with the financial statement
Financial results for 2016
15. 15
Cash flow
[mPLN] 2016 2015
EBITDA 884 708
Working capital 97 -97
Interest paid -55 -127
Taxes paid -54 -22
Others -35 -5
Cash flow from operating activities 837 457
CAPEX -490 -504
Other 45 17
Cash flow from investment activities -446 -486
Free cash flow 391 -29
Debt financing -27 230
Dividend -150 0
Other 0 -47
Cash flow from financial activities -178 183
Total net flow 214 154
Closing balance of cash 414 203
Simplified
Financial results for 2016
Operating activity
• Mainly higher operational
results, change in the trade
working Capital and lower
interests
• Others include mainly an
adjustment for the change
in valuation of investment
real estate and caverns
Operating activity
• Expenses connected with
the implemented
investment programme
were a little bit lower than
in the previous year
Financial activity
• Payments under financial
lease agreements
• Payment of dividends
16. 1. Most important events of 2016
2. Financial results for 2016
3. Outlook for next quarters
17. 17
Activities related to soda ash
Outlook for the coming quarters
Maintenance of cost competitiveness through
process optimization, improvement of
production output and raw materials
management
Further expansion onto international markets
(e.g. Africa, Brazil, Mexico, South America)
Continuing to build
strong customer
relationships
Close relationship with
end users
Development of logistical
capacities, including takeover
of customers' warehouse
management
Development of
container sales
activity
18. 18
Further development of specialized products
Outlook for the coming quarters
Intensification of salt
tablet production and
work on increasing
share in the Polish
market
Further development
of the resins portfolio
towards more
specialized products
Expansion of the
foams portoflio
Extension of applications of current AGRO
products through intensive R&D activity Strengthening
brand recognition
of CIECH and
Chwastox
Introduction of new AGRO products Next AGRO products and active substances
registered in the European Union
Potential acquisition projects
Development of the
sodium bicarbonate
portfolio towards products
with even higher margins –
focus on dialysis soda
Development of new
salt products
19. 19
Execution of further investment projects
Outlook for the coming quarters
Examples of projects making up CAPEX in 2017
Project Segment Goal
Expansion of salt products warehouse Soda
Greater warehouse capacity and higher logistical efficiency of
facilities
Development of soda for dialysis in Germany Soda
Incorporation of dialysis soda into the portfolio – the most
specialized baking soda
Enhancement of salt tablet production capacity Soda Greater sales of salt tablets, a product with a high margin
R&D activity and registration processes
conducted in the AGRO area
Organic
New applications of existing products and registration of new
products (plant protection products and active substances)
Desulfurization and denitrification system for
power plants in Poland
Soda Fulfillment of EU requirements concerning SOx and NOx
Implementation of SAP
(latest SAP ERP system model)
Group-wide Standardization and optimization of business processes
We are currently analyzing a series of various projects, and if the analysis phase shows certain projects to be
profitable and attractive – we do not exclude their implementation
20. This document has been prepared solely for informational purposes. It includes only summary information, is not exhaustive, and may not be used as a sole basis for any assessment or analysis. CIECH S.A. makes no guarantees (explicit or
implicit) regarding information presented herein and such information, including forecasts, estimates and opinions, should not be unduly relied upon. CIECH S.A. does not accept any responsibility for possible mistakes, omissions or
irregularities found herein. The document is based on sources of information which CIECH S.A. deems to be reliable and accurate, however, it does not guarantee them to be exhaustive nor to fully reflect the actual situation. This document
does not constitute an advertisement or a public offer of securities. It may include forward-looking statements that involve investment risks or uncertainties and may significantly differ from actual results. CIECH S.A does not accept any
responsibility for consequences of decisions made based on this document. The responsibility lies exclusively with the party using the document. This document is protected by the Copyright and Related Rights Act. Copying, publishing or
distributing it requires prior written consent of CIECH S.A.
CONTACT FOR INVESTORS:
Joanna Siedlaczek
Investor Relations Expert
+48 669 600 567, joanna.siedlaczek@ciechgroup.com
Modern and diversified chemical group on a stable progress path