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May 10, 2013
1Q13 Results
SCHEDULE
HIGHLIGHTS
RESULTS
OUTLOOK
2
Providência USA
Providência USA
HIGHLIGHTS 1Q13
The unveiling, on March 26, of Kami 13, the company’s thirteenth production line and the second at its North American installations, located at Statesville in North Carolina, USA. With the new machine, Providência add 20 thousand tons of nonwovens/year to local production, doubling plant capacity in order to meet demand for high technology products from the disposal hygiene segment;
The Annual/Ordinary General Meeting of April 1, 2013 approved an additional payout of R$ 33.8
million in dividends, totaling 100% of the 2012 annual adjusted dividend calculation base. The
shares will trade ex-dividend on May 17, 2013 and payout will take place on May 27, 2013.
SCHEDULE
HIGHLIGHTS
RESULTS
OUTLOOK
4
21.3 22.8 24.4
1.8 2.1
2.6 23.1
24.9 27.0
1Q12 4Q12 1Q13
Nonwovens Others
The increase was mainly due to the 2nd
production line at the Pouso Alegre (MG)
facility, that started up in June/2012;
In this quarter our 2nd machine in
Statesville is in line with the Company’s
forecast for ramping up production;
In 1Q13 we did not sell part of the volume
that would be sold to Argentina and
Venezuela due to political and economic
situation in those countries.
SALES VOLUME (in thousands of tons)
Sales Volume amounted to
, a growth of 16.8% in relation to the
same period in 2012;
139.4 152.8 160.6
R$ 6.03 R$ 6.12 R$ 5.95
R$(1,00)
R$-
R$1,00
R$2,00
R$3,00
R$4,00
R$5,00
R$6,00
R$7,00
R$8,00
R$9,00
R$10,00
1Q12 4Q12 1Q13
Net revenue Unitary Net Revenue (R$)
The Company reported Net Revenue
of , 15.2% up on
1Q12;
The increase is largely due to higher
sales volume as well as the intensive use
of available production capacity;
The decrease in unitary net revenues
is mainly due to the sale of the first
products made on the 2nd Statesville
production line.
6
NET REVENUE (in millions of Reais)
COGS (Cost of Goods Sold) (in millions of Reais)
7
96.6 105.4 114.9
R$ 4.18 R$ 4.23 R$ 4.25
R$3,50
R$4,50
-
20,0
40,0
60,0
80,0
100,0
120,0
140,0
160,0
180,0
200,0
220,0
240,0
1Q12 4Q12 1Q13
COGS (R$ thousand) Unitary COGS (R$)
The COGS totaled R$ 114.9 million in 1Q13, a growth of 19.0% against the R$ 96.6 million
recorded in 1Q12 and an increase of 9.1% compared with the R$ 105.4 million in 4Q12. This
performance is largely the result of higher sales volume, the production start-up of KAMI13
and the increased costs of polypropylene.
EBITDA (in millions of Reais) and EBITDA MARGIN (%)
8
28.9 33.8
25.8
20.7%
22.1%
16.1%
-
10,0
20,0
30,0
40,0
1Q12 4Q12 1Q13
Ebitda Ebitda Margin (%)
Adjusted EBITDA in 1Q13 reached
, a 10.8% decline when
compared with 1Q12, mainly due to the
sale of the first products made in KAMI13
and to the added costs on KAMI12 and
KAMI13;
Compared to 4Q12 the lower EBITDA
was due to the product mix and costs
impacted by the startup of KAMI 13.
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NET INCOME (in millions of Reais)
and NET MARGIN(%)
25,0
7.1
11.3
5.1
5.1%
7.4%
3.1%
-1,0%
1Q12 4Q12 1Q13
Net Income Net Margin
Net Income in the period amounted
to , 28.4% less than
1Q12;
The adjusted dividend calculation
base for the year (retained earnings)
was R$ 7.8 million, the difference
representing the incorporation of the
realization of the deemed cost in the
quarter, net of taxes.
Net Debt reported an increase of R$ 108.9
million, or 30.6%, in relation to 1Q12, this
increase largely reflecting the funding of new
machines in Brazil and the USA;
The foreign currency named debt was
mainly borrowed in the USA with a natural
hedge in the form of Providência’s revenue
flows and assets in that country.
NET DEBT (in millions of Reais)
Local Currency
35%
65%
Foreign Currency
355.3
451.6 464.2
1Q12 4Q12 1Q13
DEBT / CASH (in millions of Reais)
Consolidated Net Debt
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R$ (MM) 03/31/2012 12/31/2012 03/31/2013 Ch. 1Q13 /
1Q12
Total Debt
Short Term 73,5 112,4 114,5 55,9% Long Term 374,9 423,3 475,5 26,9%
Total 448,3 535,7 590,0 31,6%
Cash 93,0 84,1 125,9 35,3%
Net Debt 355,3 451,6 464,2 30,6%
Shareholders' Equity 671,3 690,0 696,1 3,7% Net Debt/ Adjusted EBITDA 3,6 3,6 3,8 4,7%
Net Debt / Adjusted EBITDA Without the lines that startup in 2012
2,5 2,2 2,3 -7,6%
32.9 39.5
53.1
R$ 0.41 R$ 0.49
R$ 0.66
R$ (0,50)
R$ (0,30)
R$ (0,10)
R$ 0,10
R$ 0,30
R$ 0,50
8,0
2,0
12,0
22,0
32,0
42,0
52,0
2010 2011 2012
Dividends (R$ MM) Dividend/Share
DIVIDENDS (in millions of Reais)
25,0
12
The AGM held on 04/01/2013 approved an additional payout of R$ 33.8 million in dividends,
totaling R$ 53.1 million for the 2012 fiscal year.
This calculation base corresponds to:
Ex-dividend: 05/17/2013 Payout: 05/27/2013
R$ 0.42 per share
Net Income for the financial year in 2012 R$ 45.1 million
(-) Legal Reserve (5%) R$ 2.2 million
(+) Realization of the deemed cost: R$ 10.2 million
Dividend Calculation Base R$ 53.1 million
0.80 1.04 1.00
-
0,20
0,40
0,60
0,80
1,00
1,20
1,40
1Q12 4Q12 1Q13
MARKET VALUE RATIOS
25,0
13
Dividend Yield* Share Price / Book Value per Share
5.54%
8.06% 7.37%
2010 2011 2012
PRVI3 Ch. 1Q13/1Q12
R$ 6.69
R$ 6.30
R$ 6.85
R$ 8.95 R$ 8.70
mar/12 Jun Sep Dec mar/13
* Dividend per Share / Share price at the end of the period.
HIGHLIGHTS
RESULTS
OUTLOOK
SCHEDULE
OUTLOOK
The target is for the 2nd Statesville production line, the Company’s 13th, to reach maximum
capacity until the end of the second quarter of 2013;
During 2Q13 and 3Q13 the United States plant should have a product mix improvement;
During 2Q13 we will redirect to other countries the products we did not sell to Argentina and
Venezuela on 1Q13;
By the year-end, Companhia Providência’s installed capacity will have reached 140 thousand
tons/year, reaffirming the Company’s ranking as one of the largest and most modern players in
the global nonwovens industry.
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CEO: Hermínio V. S. de Freitas CFO: Eduardo Feldmann Costa IR : Gabriela Las Casas Beatriz Tokarski Tel: +55 (41) 3381-8673 Fax: +55 (41) 3283-5909 São José dos Pinhais – PR www.providencia.com.br/ri www.twitter.com/providencia_ri
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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 .