teleconferencia 4 q12

Download Teleconferencia 4 q12

Post on 09-Jun-2015




0 download

Embed Size (px)


  • 1. 4Q12 and 2012 ResultsFebruary 27, 2013

2. SCHEDULEProvidncia USAHIGHLIGHTSRESULTSOUTLOOKProvidncia USA2 3. HIGHLIGHTS 4Q12 & 2012 Inauguration, in June, of our 2nd Production Line in Pouso Alegre, Minas Gerais, expanding the Companys total capacity by 20%;The consolidation of the investments resulted in a record Adjusted EBITDA of R$ 127.0 million for the year, 24.4% higher than 2011, and R$ 33.8 million in 4Q12, 16.3% more than for the same quarter in 2011; Net Earnings, also record, amounted to R$ 45.1 million in 2012 and to R$ 11.3 million in 4Q12, an increase of 53.0% and of 143.8% respectively; Net Cash Generation reached R$ 161.2 million, a 127.5% increase in relation to the previous year; Subject to the approval of the AGM, the Company proposes the distribution of R$ 53.1 million, corresponding to 100% of the adjusted dividend calculation base for the year. Of this amount, R$ 19.3 million was paid in November/2012 and, subject to AGM approval, R$ 33.8 million will be paid in 2013. 4. SCHEDULEHIGHLIGHTSRESULTSOUTLOOK4 5. SALES VOLUME (in thousands of tons) Sales Volume amounted to , a growth of 12.5% in relation to the preceding year, 98.7reflecting the initial sales from the 2nd production line at 87.8the Pouso Alegre plant, inaugurated in June/ 22.9 2.320.64Q1124. 80.32011NonwovensOthers2012 6. NET REVENUE (in millions of Reais) Net Revenue reached R$ 152.8 million in 4Q12, a growth of 7.6% in relation to 4Q11. In 2012, Net Revenue reached R$ 608.6 million, an increase of 15.6% against 2011. This growth 620,0 reflects the increase in Sales Volume and prices realignment. 600,0142.04Q11166.7152.83Q124Q12580,0 560,0 540,0 520,0 500,0 480,0 460,0 440,0 420,0 400,0 380,0 360,0 340,0 320,0 300,0 280,0 260,0 240,0 220,0 200,0 180,0 160,0 140,0 120,0 100,0 80,0 60,0 40,0 20,0 -608.6 526.6201120126 7. COGS (Cost of Goods Sold) (in millions of Reais) The unit COGS in 4Q12 was stable compared to the 4Q11, small change of 0.95%. In 2012, COGS was R$ 423.1 million, representing R$ 4.29460,0 440,0 an increase of 15.8% in relation to 2011. This increase is largely the 420,0 400,0result of higher Sales Volume in 2012, since unit COGS recorded an 380,0R$ 4.16360,0increase of only 3.1%.340,0 320,0R$ 4.19R$ 4.39R$5,00300,0 280,0R$ 4.23260,0 240,0 220,0423.1200,0 180,0365.2160,0140,0 120,095.8114.3100,0105.480,0 60,0 40,0 20,0 R$-4Q113Q124Q12-201120127 8. EBITDA (in millions of Reais) and EBITDA MARGIN (%) Adjusted EBITDA reached the record of R$ 127.0 million in 140,02012, a 24.4% growth comparing to 2011, and R$ 33.8 million19.4%20.9%80,0in 4Q12, also a fourth quarter record.120,022.1% 100,021.7%60,080,040,020.5%127.060,0102.1 40,020,,0--4Q113Q124Q12Ebitda02011 Ebitda Margin (%)2012 9. 25,0NET INCOME (in millons of Reais) and NET MARGIN(%) Net Income totaled R$ 45.1 million in 2012, an increase of comparing to 2011. For the 4Q12, the company reported7.4%a total of R$ 11.3 million, 143.8% more than 4Q11; 40,05.6% 11.4%045.17.4% 20,029.5 3.2%18.9 11.34.6 0,0%-4Q113Q124Q12 Net Income0,0%2011 Net Margin20129 10. NET DEBT (in millions of Reais) Net debt was stable compared to the 3Q12, and increased by R$ 110.8 million in relation to 4Q11, the increase reflecting the funding of the new machines in Brazil and in the USA; The foreign currency named debt was mainly borrowed in the USA with a natural hedge in the form of Providncias revenue flows and assets in that country. 450.0451.6340.8Foreign Currency30% 70%4Q113Q124Q12Local Currency 11. DEBT / CASH (in millions of Reais) Consolidated Net Debt R$ (MM)12/31/201109/30/201212/31/2012Ch. 4Q12 / 4Q11Total Debt Short Term73.6127.0112.452.7%Long Term348.4428.5423.321.5%Total422.0555.5535.726.9%Cash81.2105.584.13.7%Net Debt340.8450.0451.632.5%Shareholders' Equity689.3697.8690.00.1%Net Debt / Adjusted EBITDA3. Debt / Adjusted EBITDA without the lines that startup in 20122.92.32.2-22.2% 11 12. 25,0DIVIDENDS (in millions of Reais) Subject to the resolution of the AGM, Management is proposing the distribution to 100% of the adjusted dividend calculation base for the year, totaling R$ 53.1 million. Of this amount, R$ 19.3 million was paid on November/2012. R$ 0.660R$ 0.49 R$ 0.41R$ 0,500This calculation base corresponds to : R$ 0,30053.1039.5 32.90R$ 45.1 million R$ 2.2 million R$ 10.2 million R$ 53.1 millionR$ (0,30)00R$ 0,10 Net Income for the financial year in 2012 (-) Legal Reserve (5%) (+)(0,10) Realization of the deemed cost: R$ Dividend Calculation Base201020112012**Dividends Paid (R$ million)Dividend/Share** To be ratified at the AGMR$ (0,50)12 13. 25,0MARKET VALUE RATIOS Capital Markets 2012 R$ 8,95R$9 R$8 R$7R$ 6,20R$6R$5 Dec 11MarJunSepDividend Yield*Dec 121,40Share Price / Book Value per Share1,20 1,008,06%7,37%0,80 0,605,54%0,401,04 0,720,794Q113Q120,20 -201020112012* Dividend per Share / Share price at the end of the period.4Q12 14. SCHEDULEHIGHLIGHTSRESULTSOUTLOOK 15. OUTLOOK The target for the second Statesville production line - the Companys 13th is to reach full capacity on the second half of 2013 with a corresponding increase in Sales Volume. This unit will ramp up Providncias output by 20 thousand tons annually, doubling capacity in the United States; On 2013, Providncias capacity reached 140 thousand tons/year, underscoring the Companys ranking as one of the leading and most modern players in the global nonwovens industry.15 16. EXPANSION KAMI 13: Progress of the expansion project is running to plan, doubling the Companys US production capacity. So Jos dos Pinhais PR Production Capacity: 20 thousand tons/year. Inauguration: First quarter 2013NCKAMI12: Second production line in Pouso Alegre (MG) Production Capacity: 20 thousand tons/year Unveiled in June/2012..MG65758082200820092010100120140PR2007201120122013*In thousands of tons 17. CEO: Hermnio V. S. de Freitas CFO: Eduardo Feldmann Costa IR : Gabriela Las Casas Beatriz Tokarski Tel: +55 (41) 3381-8673 Fax: +55 (41) 3283-5909 So Jos dos Pinhais PR 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. Providncia is under no obligation to update this presentation with new information and/or future events .17