Debt Presentation as of March 31, 2013

Transcription

1 Debt Presentation as of March 31, 2013

2 Total Debt History (3)(5)(8) Million Dollars (1) (2) (2) 1,505 1, (2)(4) (2) (2)(4) (2)(4) 1,673 1,681 1,690 1, (2)(4)(6) (2)(4)(6) 1,503 1, (7) 1,151 1,149 1,149 1,153 1, ,431 1,423 1,597 1,599 1,611 1,594 1,424 1,398 1,066 1,075 1,072 1,076 1,092 Mar'10 Jun'10 Sep'10 Dec'10 Mar'11 Jun'11 Sep'11 Dic'11 Mar'12 Jun'12 Sep'12 Dic'12 Mar'13 Total Debt excluding Accounts Receivable Financing Program Total Accounts Receivable Financing Program (1) Nominal pesos at the end of each period converted into dollars using the exchange rate at the end of each respective period (2) Includes overdue debt (payment default) (3) Total net debt includes Net Accounts Receivable Financing Program due to changes in Mexican FRS (4) Starting September 30, 2010, total net debt includes US$253 million of derivative settlements, not previously recognized as debt (5) Debt reduction is shown on every quarter as a result of the asset sale of Vitro America and subsidiaries (6) Vitro was declared in Concurso Mercantil; all of its debt was converted to Unidades de Inversion ( UDIS ) and stopped accruing interest. (7) On February 23, 2012, Vitro consummated the Concurso Plan and completed its debt restructuring issuing its New Notes due 2018 ( Notes 2018 ) and Mandatory Convertible Debentures ( MCDs ) due 2015 and paid a cash restructuring fee. (8) As a result of the initiation of Concurso proceedings in the Commercial Courts of Madrid, Vitro Cristalglass, all of its debt was deconsolidated. 2

3 Total Net Debt History (3)(5)(8) Million Dollars (1) (2) (2) 1,299 1, (2) 1,466 1, (2)(4) 1, (2)(4) 1, (2)(4) 1, (2)(4)(6) 1, (2)(4)(6) (7) 1,125 1,083 1, ,033 1, ,228 1,231 1,391 1,431 1,486 1,535 1,355 1,274 1,009 1, Mar'10 Jun'10 Sep'10 Dec'10 Mar'11 Jun'11 Sep'11 Dic'11 Mar'12 Jun'12 Sep'12 Dic'12 Mar'13 Total Accounts Receivable Financing Program net of cash reserves in trusts Total Net Debt excluding Accounts Receivable Financing Program (1) Nominal pesos at the end of each period converted into dollars using the exchange rate at the end of each respective period (2) Includes overdue debt (payment default) (3) Total net debt includes Net Accounts Receivable Financing Program due to changes in Mexican FRS (4) Starting September 30, 2010, total net debt includes US$253 million of derivative settlements, not previously recognized as debt (5) Debt reduction is shown on every quarter as a result of the asset sale of Vitro America and subsidiaries (6) Vitro was declared in Concurso Mercantil; all of its debt was converted to Unidades de Inversion ( UDIS ) and stopped accruing interest. (7) On February 23, 2012, Vitro consummated the Concurso Plan and completed its debt restructuring issuing its New Notes due 2018 ( Notes 2018 ) and Mandatory Convertible Debentures ( MCDs ) due 2015 and paid a cash restructuring fee. (8) As a result of the initiation of Concurso proceedings in the Commercial Courts of Madrid, Vitro Cristalglass, all of its debt was deconsolidated. 3

4 Debt Profile Debt Profile as of March 31, 2012 and 2013 Fixed Rate Floating Rate + Fixed Spead (1) Rate Exposure Mar.12 Mar.13 86% 87% 14% 13% Dollars Pesos Currency Exposure (2) Mar.12 Mar.13 92% 91% 8% 9% Banks Market Source Mar.12 Mar.13 17% 15% 83% 85% (1) LIBOR and TIIE based rates (2) Since the disincorporation of Vitro Cristalglass operation, its outstanding balance is not included. 4

5 Amortization Schedule (1) (In million dollars as of March 31, 2013) Total Debt = US$ 1, Short Term Current Maturities of LT Long Term (1) On February 23, 2012, Vitro consummated the Concurso Plan and completed its debt restructuring issuing its Notes 2018 and MCDs and paid a cash restructuring fee. 5

6 Short Term Debt Schedule (1) (In million dollars as of March 31, 2013) Short Term Debt Profile = US$ Abr13 - Jun13 Jul13 - Sep13 Oct13 - Dic13 Ene14 - Mar14 Short Term Market (Short Term) Current Maturities of LT (1) Due to Vitro s accomplishment on the Concurso Plan, all short term debt is operating companies debt. 6

7 Amortization Schedule Holding and Operating Companies (3) (In million dollars as of March 31, 2013) Holding Company Operating Companies Short Term Current Maturities of LT Long Term Short Term Current Maturities of LT Long Term Consolidated 767 Short Term Current Maturities of LT Long-Term Short Term Current Maturities of LT Long Term 7

8 Net Accounts Receivable Financing Program* (In million dollars as of March 31, 2013) Flat Glass Glass Containers US$ 24.3 million US$ 56.6 million Total Net Accounts Receivable Financing Program = US$ 80.9 million *Net of cash reserves included in trusts related to Accounts Receivable Financing Program 8

9 APPENDIX

10 Detail of Debt Amortization (as of March 31, 2013) Consolidated US$ Million 2Q13 3Q13 4Q13 1Q14 Short Term Debt Notes MCDs Long Term Short Term

11 Detail of Debt Amortization (as of March 31, 2013) Consolidated US$ Million Total Notes MCDs Long Term Short Term ,

12 Detail of Debt Amortization (as of March 31, 2013) Holding US$ Million 2Q13 3Q13 4Q13 1Q14 Short Term Debt Notes MCDs Long Term Short Term

13 Detail of Debt Amortization (as of March 31, 2013) Holding US$ Million Total Notes MCDs Long Term Short Term

14 Detail of Debt Amortization (as of March 31, 2013) Glass Containers US$ Million 2Q13 3Q13 4Q13 1Q14 Short Term Debt LT Short Term Total LT Short Term

15 Detail of Debt Amortization (as of March 31, 2013) Flat Glass US$ Million 2Q13 3Q13 4Q13 1Q14 Short Term Debt LT Short Term Total LT Short Term