Capital Markets Day Atria Plc CEO Juha Gröhn, 3 December 2014

Transcription

1 Capital Markets Day Atria Plc CEO Juha Gröhn, 1 Atria Capital Markets Day ohjelma 1.Tervetuloa / toimitusjohtaja Juha Gröhn, Atria Oyj ( ) Atrian strategia ja Q3 katsaus Taloudelliset tavoitteet Lihamarkkinakatsaus 2. Atria Venäjä / toimitusjohtaja Jarmo Lindholm ( ) Katsaus Atria Venäjän strategiaan Markkinakatsaus 3. Atria Skandinavia / toimitusjohtaja Tomas Back ( ) Katsaus Atria Skandinavian strategiaan Markkinakatsaus Kahvitauko Atria Suomi / toimitusjohtaja Mika Ala-Fossi ( ) Katsaus Atria Suomen strategiaan Markkinakatsaus 5. Atria Baltia & yhteenveto / Juha Gröhn ( ) Katsaus Atria Baltian strategiaan Markkinakatsaus Tilaisuuden yhteenveto 2 1

2 Atria Group 1 January 30 September, EUR million Q3 Q Q1-Q3 Q1-Q Net sales , , ,411.0 EBIT EBIT % Profit before taxes Earnings per share, Extraordinary items* * Extraordinary items are included in the reported figures. Atria Group's third-quarter results developed positively despite difficult market conditions. Net sales for July September grew by EUR 6.0 million year-on-year. EBIT for July September without non-recurring items was EUR 15.6 million (EUR 14.5 million). Net sales for January September grew by EUR 12.3 million year-on-year. EBIT for January September without non-recurring items amounted to EUR 22.6 million (EUR 24.4 million). 30 Oct, 3 Atria Group Net Sales cumulative, quarterly Million Q1 Q2 Q3 Q4 30 Oct, 4 2

3 Atria Group EBIT cumulative, quarterly 40,0 Million 30,00 30,2 20,0 22,4 19,7 22,0 10,0 00 0,0-10,0 9,8 8,0 5,7 5,3 5,8 3,8 1,0 0,1 3,2 10,9 9, ,5-4,2-5,2 Extra ordinary Extra ordinary Extra ordinary Extra ordinary Extra ordinary items items items items items M -2.2 M -0.5 M M -0.6 M 5,8 30 Oct, 5 Atria Group Financial indicators Million Shareholders' equity per share, EUR Interest-bearing liabilities Equity ratio, % Gearing, % Net gearing, % Gross investments in fixed assets Gross investments, % of net sales Average number of employees 4,773 4,688 4,669 In September, Atria discontinued a committed credit facility of EUR 40 million due in September On 30 September, the Group had undrawn committed credit facilities worth EUR million (31 December 2013: EUR million). The average maturity of loans and committed credit facilities at the end of the period under review was 2 years 10 months (31 December 2013: 3 years 4 months). The Group's operating cash flow was EUR 48.9 million (EUR 44.8 million) and cash flow from investments was EUR million (EUR million). During the review period, the Group's free cash flow (operating cash flow - cash flow from investments) was EUR -5.4 million (EUR 20.7 million). 30 Oct, 6 3

4 Outlook for the future / revised 13 Nov The company estimates its full-year EBIT without t non-recurring items to be at the same level as the previous year's EBIT of EUR 37.0 million. Net sales are expected to grow in. 7 Financing 8 4

5 Financing principles Atria s strategy is to arrange financing through balanced allocation and distribution of Financial instruments Loan maturities Financial institutions The main covenant used in loan agreements is a minimum equity ratio covenant of 30% Reported to financiers either quarterly or semiannually 9 Loan facilities by instrument Q3/ Outstanding loans and committed credit facilities 28 % 11 % 8 % 18 % 1 % Overdraft facilities Commercial papers Uncommitted credit facilities Committed credit facilities Bank and other loans Bonds 34 % 10 5

6 Maturity structure of loan facilities Q3/ Undrawn Withdrawn < 6 mths < 1 yr < 2 yrs < 3 yrs < 4 yrs < 5 yrs > 5 yrs The amount of undrawn committed credit facilities stood at EUR 109,5 million The average maturity of loans and committed credit limits at the end of the review period was 2 years 10 months. 11 Financiers Five Nordic banks Two domestic insurance companies Other institutions in bonds and CP s Other (Bonds & CP's) 29 % Insurance companies 15 % Banks 56 % 12 6

7 Atria Group Net debts 500 Million Sept 30, 30 Oct, 13 Mission, vision, strategy 14 7

8 15 Strategic roadmap Focus on growth and internationalization 2011 Focus on capital and cost efficiency Solid foundation for future growth Focus on 3 strategic fields: - Commercial excellence - Efficiency - Way of Work Investments and acquisitions 16 8

9 Strategy implementation examples Efficiency Jyväskylä & Sahalahti synergies Efficiency Investments in packaging in Sweden Commercial excellence Sibylla expansion In Russia Commercial excellence No 1 in consumer information Commercial excellence Finnish origin and traceability Way of Work Way of Leading Way of Work Atria s values 17 Financial targets Indicator Target EBIT % 5% Equity ratio 40% ROE % 8% Dividend distribution of Net Income 50% 18 9

10 Meat Market Situation 19 Content 1. Feed price development 2. Meat price development 3. Meat production and consumption 4. Competition 20 10

11 International feed price Feedprices in Finland Source: A-Rehu Ltd. 11/ 22 11

12 Pig prices 2010 EU, Brazil and the US Source: European Commission 23 EU average pig price in Source: European Commission 24 12

13 Producer price of pigs 25 Producer price of bovine 26 13

14 Meat consumption per capita Denmark 86 kg per capita Sweden 85 kg per capita Finland 75 kg per capita Russia 75 kg per capita Estonia 69 kg per capita 27 Consumer prices in Finland

15 29 Summary Consumer purchasing power determines the market development in all business areas. Raw material prices and operational efficiency have a significant role in profitability. In Finland market development is challenging. In Russia raw material price increase has stabilized by the end of the year. Industrial operations are streamlined business environment is challenging. Development in Scandiavia and in Baltic shows improvement. Financial status is stabile. Long-term trends and drivers positive

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