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2Q07 Presentation

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2Q07 Presentation

  1. 1. Conference Call 2nd Quarter 2007
  2. 2. EBITDA and EBITDA Margin EBITDA and EBITDA Margin R$ millions and % of the Net Revenue Adjusted EBITDA grew 10%, mainly due to the higher sales in the domestic market (nonwovens) 37.0 and the reduction in COGS. 30.7 28.7% Growth should have been even 26.3 23.9 better, had it not been impacted 26.4% 24.4% by: 21.7% • the one-time reduction in sales abroad on account of the more severe winter in South America; • Lower production and sales of PVC related to unscheduled 2Q06 4Q06 1Q07 2Q07 maintenances.
  3. 3. Sales Volume SALES VOLUME (tons) 12.7 12.0 12.1 12.6 • The Company has been gradually expanding its sales volumes, particularly in the nonwovens segment. 7.0 6.4 5.6 • PVC production and sales 5.0 were affected by unscheduled maintenance 0.7 0.5 0.4 0.6 • We will limit sales to the public sector, whose margins 3Q06 4Q06 1Q07 2Q07 are smaller. Nonwovens Tubes and Connections Packaging
  4. 4. Gross Revenues Gross Revenues R$ millions 143.0 130.1 121.6 • In the domestic market, 118.0 44.9 nonwovens posted a 6.4% sales 39.3 growth 41.8 36.9 • Nonwovens exports revenues fell 98.1 as a consequence the Brazilian 90.7 Real appreciation in relation to the 79.8 81.1 US dollar • The lower PVC sales negatively impacted this quarter’s results 2Q06 4Q06 1Q07 2Q07 Domestic Market Exports Market
  5. 5. Cost of Goods Sold COGS / COGS MARGIN 74.8% 74.4% 73.5% • The continued reduction in COGS has been improving our operating 88.2 efficiency and guaranteeing 86.8 69.9% greater operating margins 81.9 79.1 3Q06 4Q06 1Q07 2Q07 COGS MARGIN
  6. 6. Operating Expenses Operating Expenses and Financial Results R$ millions 2Q07 1Q07 % • R$ 2.5 million - Expenses related to the acquisition; -Administrative Expenses (12.7) (6.3) 102.3% • R$ 0.7 million - IPO-related expenses; • R$ 1.9 million - Price Adjustment, owed to former shareholders in compliance with the contract of purchase and sale; • R$ 1.0 million - Non-recurring expenses with personnel restructuring, labor and civil claims contingencies. • Interest on the debt contracted for -Financial Result, net (17.5) (9.9) 77.6% financing the acquisition of the Company (promissory notes)
  7. 7. Net Income Net Income R$ million • A combination of non-recurring expenses and financial charges was responsible for the loss recorded in the quarter 31.1 • Financial expenses will be reduced as of the 3rd quarter, due to the new debt position. 9.8 9.7 (9.2) 2Q06 4Q06 1Q07 2Q07
  8. 8. Net Debt Composition of the Net Debt R$ millions Current (R$ Million) 06/30/07 After IPO Total Debt Financing of the Acquisition plus interest 499.5 - Isofilme Acquisition 97.0 73.6 Financing of Machine 09 70.4 70.4 Promissory Notes II 250.0 666.9 394.0 Cash 57.0 57.0 Net proceeds from the IPO - 170.31 Net Debt 609.9 166.7 Net Debt/ EBITDA LTM2 5.8x 1.6x 1 Based in EBITDA LTM of R$ 105 million, as of march 31, 2007 2 Preliminary Offering of R$ 451,7 million (net), less R$ 255,0 million related to the Promissory Notes and R$ 26.4 million from the payment of Isofilme
  9. 9. Operating Highlights • Conclusion of Machine 09 financing; civil works finished and on-going assembly process; • Acquisition of Isofilme; • New ERP (SAP) recently contracted – fully operational by the end of 1Q08; • Sales department restructuring; • Our IPO was successfully concluded, what was a critical step to reduce net debt and prepare the Company for future acquisitions.
  10. 10. IR Contact Rubens Sardenberg IR Officer Phone: 55 (41) 3381-7600 Fax: 55 (41) 3283-5909 São José dos Pinhais – PR rubens@providencia.com.br www.providencia.com.br/ri The words “believe”, “anticipate”, “expect”, “estimate”, “will”, “plan”, “may”, “intend”, “foresee”, “project”, and other similar expressions, are intended to indicate forward-looking statements. Such forward-looking statements involve uncertainties, risks and assumptions, since they include information related to our possible or presumed future operating results, business strategy, financing plans, competitive position in the market, sector 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 in the light of new information and/or future events