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30th October 2014 Alumetal Group Q3 2014 financial results.

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Presentation on theme: "30th October 2014 Alumetal Group Q3 2014 financial results."— Presentation transcript:

1 30th October 2014 Alumetal Group Q financial results

2 Q and LTM at glance  Volume sales – 37k tons in Q and 151k tons in LTM  Adjusted EBITDA – PLN 20 mn in Q and PLN 85 mn in LTM  Adjusted net profit – PLN 14 mn in Q and PLN 62 mn in LTM  Low net debt due to improved EBITDA, low capex and low effecitve CIT rate

3 Motor vehicle registrations in the EU in thou. units  In Q sales of motor vehicle in the EU increased by 5,8% (increase by 5,1% in PC and 10,1% in CV)  In LTM sales of motor vehicle in the EU increased by 4,9% (increase by 4,6% in PC and 6,9% in CV)

4 Metal Bulletin 226 alloy spread w EUR  In Q slight improvement of relation between scrap cost and standard 226 alloy prices

5 Volume sales in thou. tons 8% 26% 19%  In Q volume sales increased by 8% to 37k tons  In LTM volume sales increased by 19% to 151k tons

6 Sales revenue in mn PLN 7% 22% 16%  In Q sales revenue increased by 7% to PLN 292 mn  In LTM sales revenue increased by 16% to over PLN 1180 mn

7 EBITDA in mn PLN 20% 39%  In Q EBITDA increased by 20% to PLN 20 mn  In LTM EBITDA increased by 39% to PLN 75 mn 60%

8 EBITDA per ton in PLN  In Q EBITDA per ton increased by 11% to 531 PLN/t  In LTM EBITDA per ton increased by 17% to 497 PLN/t 11% 27% 17%

9 Net profit in mn PLN 14% 83% 53%  In Q net profit increased by 14% to PLN 14 mn  In LTM net profit increased by 53% to PLN 55 mn

10 The impact of one-off events for 1-3Q 2014 results in thou. PLN VAT – reversal of provision IPO costs Cimos – creation of provision Impact on EBITDA VAT – reversal of provision + interest 884 Impact on EBT CIT Impact on net profit

11 24% 89% 57%  In Q adjusted EBITDA increased by 24% to PLN 20 mn  In LTM adjusted EBITDA increased by 57% to PLN 85 mn Adjusted EBITDA in mn PLN * Adjusted by impact of one-off events

12 Adjusted EBITDA per ton in PLN 14% 50% 33%  In Q adjusted EBITDA per ton increased by 14% to PLN 546  In LTM adjusted EBITDA per ton increased by 33% to PLN 564 * Adjusted by impact of one-off events

13 Adjusted net profit mn PLN 17% 114%73%  In Q adjusted net profit increased by 17% to PLN 14,5 mn  In LTM adjusted net profit increased by 73% to PLN 62 mn * Adjusted by impact of one-off events

14 Capex in mn PLN -68% -74% -62%  In Q capex decreased by 68% to PLN 1,6 mn  In LTM capex decreased by 62% to PLN 12,7 mn

15 OCF vs EBITDA in mn PLN  In Q OCF amounted to minus PLN 2 mn vs EBIDTA PLN 20 mn  In LTM OCF amounted to PLN 69,5 mn vs EBIDTA PLN 75 mn

16 Net debt and effective CIT rate Net debtEffective CIT rate  At the end of September 2014 net debt amounted to PLN 62 mn and Net debt/EBIDTA ratio decreased from 1,3x at the end of 2013 to 0,8x at the end of Q  Effective CIT rate in Q was negative due to the provision for CIMOS receivables

17 Provision for receivables from CIMOS  The Management Board decided to make a provision for the total amount of the receivables amounting to PLN thou. in the results of H  On 5th August 2014 Alumetal received the letter with the proposal of claim repayment in the following way:  25% of the amount shall be paid in October 2014  30% of the amount shall be divided into 8 semi-annual installments due from October 2015  45% of the amount shall be redeemed  The court indicated the deadline until 3rd September 2014 for Cimos to present the restructuring plan  On 15th October 2014 Alumetal received the letter confirming an intention of first payment (25% of the amount) within November 2014 (5 days after approval of restucturing plan by the District Court of Koper)

18 Status of project in Hungary  On 1st October 2014 – business plan accepted by Supervisory Board  PLN 120 mn capex  ca. 60k tons production capacity realized in one stage  start of the production in Q  On 9th October 2014 – order for design of the plant was issued  On 10th October 2014 – preliminary purchase agreement of the land was signed  On 10th October 2014 – binding offer from Hungarian Goverment was obtaind (public aid up to 35% of eligible capex, the split between cash grant/CIT allowance close to Management expectations)

19 Summary  Q financial results in line with the Management expectations  Market situation should be stable till the end of 2014  Strong OCF, low leverage and obtained Hungarian public aid will allow to finance capex of Hungarian project and continue the dividend policy


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