2007 year end results

Transcription

1 2007 year end results 19.Feb

2 > BUSINNES SEGMENTS DECA DIVISION Metal Fittings Vitreous China Accessories Leadership within the Metals segment having a prominent position in Vitreous China. Possesses the broader product line attending the different market segments. 2

3 > BUSINNES SEGMENTS WOOD DIVISION Hardboard MDP MDF/HDF/SDF Laminate Flooring Leadership within the Brazilian panel making industry having the most diversified product line. 3

4 > CAPEX Wood Division: R$630 million (Agudos / SP) MDF biggest line: m 3 capacity: growth over existing capacity: +125%; New Low Pressure (BP) Coating Line : m 2 / year: growth over existing capacity: +35%; Lands: hectares in the region. Agudos/SP Deca Division: R$200 million (São Paulo and Jundiaí / SP) Metal Fittings and Vitreous China Jundiaí/SP Metal Fittings: items / month, growth over existing capacity : +33% Vitreous China: items / month, growth over existing capacity: + 44%; Corporative: ERP system worth R$12,7 million Software: SAP e Hardware: IBM Risk, Implementation consultancy: CPM Braxis. 4

5 > CAPEX MDF : Start-up by the end of 1HY09 5

6 > CAPEX BP: Start-up by the beginning of 2HY2008 6

7 > PERFORMANCE Nominal industrial capacity and utilization rate: 2007 Hardboard 98% m 3 /year MDP 84% m 3 /year MDF/HDF/SDF 96% m 3 /year Metal Fittings 86% K items/year * Vitreous China 96% K items/year * * 2008 Metal Fittings = K items / year and Vitreous China = K items / year 7

8 > LEVERAGE in R$ M dec-07 Total Debt 671 Cash and Cash Equivalents 663 Shareholder's Equity LT ST 37% Net Debt / Shareholder's EquityPL 0,5% Net Debt / EBITDA 0,02 63% Foreign Currency 670,7 148,1 246,2 Debt and Amortization Schedule (R$M) 147,9 Domestic Currencyl 522,6 148,2 128,4 Total Debt and beyond 8

9 > HIGHLIGHTS 2007 Shipped Volumes: + 11% y/y; Net Revenues: + 17% y/y, to R$ 566,0 million; Gross Margin: from 38%, in 2006, to 41%; EBITDA: + 43% to R$ 148,1 M. EBITDA Margin from 21% to 26%; Contemporânea Line awarded with the if Design Awards

10 > HIGHLIGHTS 2007 Wood Shipped volumes : + 7%; Net Revenues: R$1.104,5 million, up by 10% y/y; Gross Margin: from 46% to 47%; EBITDA: + 16% to R$ 410,0 million and EBITDA margin up from 35% to 37%; Awarded the best wood products company by Fundação Getúlio Vargas' Instituto Brasileiro de Economia (IBRE) Prêmio de Excelência Empresarial. 10

11 46% Revenues breakdown: > PERFORMANCE MDF/HDF MDF/HDF MDF/HDF MDF/HDF SDF SDF SDF SDF 27% 27% 27% 27% Metal Metal Metal Metal Fittings Fittings Fittings Fittings Laminate Laminate Laminate Laminate Flooring Flooring Flooring Flooring 6% 6% 6% 6% Housing (direct) 11 18% 36% Ind. De Móveis Others Vitreous Vitreous Vitreous Vitreous China China China China 12% 12% 12% 12% 27% 27% 27% 27% Particle Particle Particle Particle Board Board Board Board 14% 14% 14% 14% Hardboard Hardboard Hardboard Hardboard 19% 19% 19% 19% Fittings Fittings Fittings Fittings 22% 22% 22% 22% R$1,7 billion Housing (indirect) Segments Attended

12 > 4 th QUARTERS PERFORMANCE Net Rev.(R$ million) & Gross Margin & Gross Margin (%) 40,1% 39,7% 44,9% 43,3% 459,8 410,7 304,9 330,3 EBITDA (R$ million) & Margin (%) 26,2% 25,9% 30,6% 31,3% 125,6 144,1 79,9 85,4 Net Income (R$ million) 65,2 32,5 31,3 77,4 Equity (R$ million) & ROE (%) 20% 22% 14% 13% 1.535, ,8 990, ,9 12

13 > YEARLY PERFORMANCE Net Rev.(R$ million) & Gross Margin Gross Margin (%) 45,0% 43,2% 41,5% 1.670,6 39,1% 1.489, , ,2 Ebitda (R$ million) & Margin (%) 27,0% 28,5% 30,8% 33,4% 558,1 458,1 320,6 362,6 Net Income (R$ million) 318,9 226,0 125,3 137,1 Equity (R$ million) & ROE (%) 22% 13% 14% 18% 1.395, ,8 990, ,8 13

14 > PERFORMANCE WOOD EBITDA (in R$ million) & Margin (in %) 4 th th Quarters Annual 29,0% 30,3% 36,2% 34,2% 31,7% 31,1% 35,3% 37,1% 59,0 67,7 99,1 101,0 256,0 267,1 354,4 410,0 14

15 > PERFORMANCE EBITDA (in R$ million) & Margin (in %) 4 th th Quarters Annual 14,7% 16,6% 19,4% 26,2% 16,0% 23,3% 21,4% 26,2% 148,1 14,9 17,7 26,5 43,1 60,8 95,5 103,7 15

16 PERFORMANCE Accrual Dividends (R$ million) Pay-out : 40,0% 46,5% 33,8% 34,0% 48,5% Extraordinary Dividend Accrual dividend / Interest on Capital 154,6 50,0 76,9 25,7 58,1 15,3 42,8 46,3 104,

17 > CAPITAL MARKETS Shareholding Structure: Total outstanding shares: 129,7M PN: 76,1M, ON: 53,6M. Shareholder structure (as of Jan / 2008): Others 38% Itaúsa 8% Others 27% PN Pension Funds 6% ON + PN Itaúsa 41% Pension Funds 10% Foreign Inv. 44% Foreign Inv. 26% 17

18 > CAPITAL MARKETS Stock Performance: 65,00 60,00 55,00 50,00 45,00 40,00 35,00 30,00 25,00 20,00 15,00 10,00 5,00 0,00 Mid price (in R$) Traded Volume (15 day moving average in R$M) Stock appreciation during the period : +157% Dec 31 th 2005 to Feb15 th dez jan fev-06 8-mar mar abr mai-06 5-jun jun jul-06 8-ago ago set out-06 3-nov nov dez jan-07 5-fev fev mar abr-07 4-mai mai jun jul jul ago set-07 3-out out nov dez-07 7-jan jan-08 Member of and indexes.

19 > CAPITAL MARKETS Stock liquidity: PN daily average trading volume (in R$ million): 27,2 30,8 8,2 0,4 1,1 1,5 1, * * 2008 average up to February 15 19

20 > CAPITAL MARKETS Number of shareholders (ON + PN): dez/03 Dec-03 dez/04 Dec-04 Dec-05 dez/05 Dec-06 dez/06 1º 1Q07 TRI 07 2º 2Q07 TRI 07 3º 3Q07 TRI 07 Dec-07 dez/07 20

21 > CAPITAL MARKETS (in US$M). Inclusion of Duratex stock on Ibovespa and IBrX50 indexes. Extraordinary dividend worth R$50M. Primary and secondary Stock issuing R$ 609 M. Stock dividend 1x1. Adhesion to Bovespa Level 1. Stock inplit 200 / 1. Termination of Benefficiary Parts. Extraordinary dividend. 30% minimum pay-out dividend policy. 80% Tag-Along rights Market Cap (US$M) +764% during the period 21

22 > CAPITAL MARKETS Sell side coverage on Duratex stock: Sell side brokerage Analyst Phone Brascan Corretora Beatriz Battelli (55-21) Credit Suisse Marcelo Telles (52-55) Deutsche Bank Josh Milberg (55-11) Fator Banco Eduardo Pirani Puzziello (55-11) Itaú Corretora de Valores Renata Faber (55-11) Link Corretora Andres Kikuchi (55-11) Merrill Lynch Marcos Assumpção (55-11) Santander Banespa Marcello Milman (55-11) Socopa Corretora de Valores Daniel Dol (55-11) UBS Pactual Edmo Chagas (55-21) Unibanco Andre Luiz Rocha (55-11)

23 2007 year end results 19.Feb