COPENE Petroquímica do Nordeste S.A. New York, March, 2002
|
|
- Bertram Bond
- 6 years ago
- Views:
Transcription
1 Petroquímica do Nordeste S.A. New York, March, 2002
2 Certain information in this presentation may be characterized as affirmations of future prospects which are based on the current beliefs and expectations of the Administration of the Company and are subject to uncertainties that may make real results substantially different, involving risks and uncertainties that may not be subject to the control of the Company. These risks include, but are not limited to, fluctuations in exchange rates, both technological and economic factors, and other risks mentioned in Company documents filed with the Securities and Exchange Commission SEC and with the Comissão de Valores Mobiliários CVM (Brazilian Securities Commission).
3 CAMAÇARI COMPLEX US$8 billion replacement cost US$5 billion sales/yr. US$600 million exports/yr. Supplies 50% of Brazilian demand 17,000 employees 25% of Bahia s VAT revenues 12% of Bahia s GDP Largest cracker in South America, amongst the 10 largest plants in the world operating at a single site Responsible for 42% of the Brazilian demand for basic petrochemicals
4 July 25, through August 31,2001)!"""""# (September 1, 2001 on...) $%&''& ($")* +"%,
5 July 25, through August 31,2001)
6 PETROQUÍMICA DO NORDESTE S. PETRONOR (CONEPAR) TRIKEM (ODEBRECHT) PRONOR (MARIANI) OXITENO (ULTRA) POLIPROPILENO (SUZANO) POLITENO (CONEPAR/ SUZANO) EDN (DOW) 23.7% 16.0% 16.0% 10.4% 8.9% 12.5% 12.5% PETROS PREVI NORQUISA PETROQUISA OTHER 5.7% 5.8% 58.4% 15.4% 14.7% % of Voting Capital
7 % 87.24% MONÔMEROS 17.05% CETREL PETROFLEX 73.11% TEGAL 88.42% NORCELL 100% CPN INC % CODEVERDE 100% CPN DIST. Wholly-owned subsidiary Jointly-managed companies under shareholder agreement Affiliated company % of Total Capital
8 Shareholders Agreement Minority Shareholders Right of Veto Copene s General Shareholders Meeting a) Change in any right already established of Copene s shares described in its by-laws ; b) Change in the corporate purpose of the company; c) Change in the numbers of members of Copene s Board of Directors; d) Increase of paid-in capital due to capital increase through assets or rights e) Merger, spin-off or incorporation in another company or of another company into Copene f) Dissolution or liquidation of.
9 Shareholders Agreement Minority Shareholders Right of Veto Copene s Board of Directors a) Acquisition, disposition or granting of security interest of permanent assets or entering into agreement with respects to any subject witch involves amounts higher than 30% of Copene s shareholders equity; b) Entering into agreement, directly or indirectly, with affiliates, subsidiaries or shareholders; c) Participation in other companies, excluding companies with the same corporate purpose as Copene; d) Any proposal witch would lead to non-compliance of any of the following financial ratios: i) Projected Net Debt/EBITDA lower than 3.5; ii) EBITDA/Total interest higher than 3.0; iii) (EBITDA/[Interest + Amortization]) higher than 1.75; iv) All the ratios will be done considering the recent historical and projected information.
10 ( - In Million R$ USES & PROCEDURES ESAE (BACEN) Intercapital (Odebrecht/Mariani) BNDESPAR (Tag Along) Proppet 23.5 TOTAL 1,417.5 SOURCES Bridge Loan (R$ 1.201,4 million) 1, % of CDI Inter company Loan (Odebrecht/Mariani) % of CDI
11 --/ - -0 ODEBRECHT Group MARIANI Group OXITENO (ULTRA) POLIPROPILENO (SUZANO) POLITENO (CONEPAR/ SUZANO) EDN (DOW) 39.7% 16.0% 10.4% 8.9% 12.5% 12.5% PETROS PREVI NORQUISA PETROQUISA OTHERS 5.7% 5.8% 58.4% 15.4% 14.7% % of Voting Capital
12 % 100% 87.24% MONÔMEROS 17.05% CETREL PETROFLEX NOVA CAMAÇARI 73.11% TEGAL 88.42% NORCELL 100% 100% 100% 100% CPN INC % CODEVERDE ESAE INTERCAPITAL PROPPET 56.31% 11.76% 31.92% 100% CPN DIST. CONEPAR Wholly-owned subsidiary Jointly-managed companies under shareholder agreement Affiliated company 42.64% POLIALDEN 31% POLITENO % of Total Capital
13 R$ Million 12/31/00 09/30/01 Local Debt ,944.9.Bridge Loan - 1,201.4.BNDES/FINAME/BNDESPAR Debêntures Intercompany Loans Others External Debt 1, ,449.7.Eurobonds Exports Pre-payment Facility Others (24.5) GROSS DEBT 1, ,394.6 (-) Availability NET DEBT ,443.6
14 1, , R$ Million ,0 0 Cash and Marketable Securities Oct/01 to Dec/
15 !"" """# September 1, 2001 on...)
16 ,3 1. Incorporation of Nova Camaçari, Intercapital and Proppet in Sep/ Take Out operations completed in Dec/01: R$625,000, of Debentures and US$250,000, of Export Pre-payment Facility 3. Adaptation of Aratú Port was concluded and the first shipment of imported Naphtha was received in Dec/01; 4. Paid-off Copene s 4th Emission of Eurobonds in Oct/01 US$100,000, BNDESPAR Tag Along was financed in Sep/01- R$164 Million (TJLP + 4% p.a. - 5 years) 6. Restructuring of Proppet s debt with the anticipated payment of high cost loans (US$25.3 millions). 7. Administrative integration of Conepar and Polialden in Jan/02;
17 -. 14'56&''5 % of Total Capital 20.12% 100% 87.24% MONÔMEROS 17.05% CETREL PETROFLEX ESAE 73.11% TEGAL 88.42% NORCELL 100% CPN INC % CODEVERDE 100% CPN DIST % CONEPAR 43.69% Wholly-owned subsidiary Jointly-managed companies under shareholder agreement Affiliated company 42.64% POLIALDEN 31% POLITENO
18 1,-2 5&7857'50 Including the Facility and the Debentures Gross Debt Net Debt R$2,690 mm R$2,325 mm 797 In million of R$ Cash and Marketable Securities Note: 1) Assumes the US$150 MM Eurobond maturing 2007 and 2) Assumes the R$625 MM Debentures maturing ) Consolidated Figures
19 .2(2 Amount: US$250,000, Two Tranches: 3 years - US$80.0 millions 5 years - US$170.0 millions Repayment Schedule: Quarterly repayments starting 18 months from closing date Spread: 3 years 3.75% p.a. 5 years 4.75% p.a. Participation US$ Millions 3 years 5 years Total 10 Investors CPN INC Total Amortization in US$ MM 3 years 5 years Total Total
20 1- Amount: R$625,000, Date of the Issuance: October 1, 2001 Type: Fluctuant Guarantee Two Tranches: 110% of CDI and IGP-M % p.a. 8 Investors: R$410.8 millions of CDI R$214.2 millions of IGP-M Maturity: 5 years Put/Call: 3 years Amortization: Bullet Interest Payment: CDI - Semi-annual IGP-M - Annual Ratings: Standar & Poors: bra positive Credit Watch Fitch: A - (bra) Credit Watch Stable
21 Financial Covenants: Other Covenants: Limitation on leverage (Net Debt/EBITDA) and minimum interest coverage (EBITDA / Net Interest Expenses) FX hedging policy Limitations on mergers and incorporation of assets Restrictions on intercompany loans Restrictions on dividends Others, customary
22 $ The adaptation of the Aratu Port Terminal and construction of a pipeline system connecting the terminal to Copene was over on December Since then, Copene is able to exports products and imports feedstock through this facility. The first lot of imported naphtha was unloaded on December 31, 2001.
23 $%&''&
24 &''& PETROQUÍMICA DO NORDESTE S. 1. Naphtha price negotiated with Petrobrás for the period Jan. Apr with better pricing and conditions for ; 2. Naphtha imports: Goal for 2002 : 30% of total consumption or 1.2 million tons; Through March 2002: thousand tons; Payment terms : 180 days; Other Advantages: Lower prices and better products 3. Automotive gasoline began to be exported in Mar/02; 4. The capacity expansion of the Pirolisis Unit 1 started in March and will increase by 80 thousand tons/ year of ethylene the production capacity of Copene, from 1,200,000 mt/y to 1,280,000 mt/y beginning in Apr/02.
25 "##1$ Capacity expansion Capacity addition: 300,000 mt/y of ethylene, to 1.5 million mt/y, at a total cost of US$210 million Additional 80,000 mt/y to come on stream in 1Q ,000 mt/y in several stages, to be completed by 2004 Efficiency and productivity improvement under TPM (Total Productivity Management) Supply of feedstock for future growth
26 ($")*
27 "- Millions of R$ FY 1999 FY 2000 FY 2001 Net Sales Cost of Goods Sold (1.344) (2.357) (2.775) Net Interest Expense 35 (8) (139) Net Income (28) EBITDA Total Debt Net Debt OBS: Consolidated Figures
28 Breakdown of Net Sales Other Petrochemicals 20% Fuel 7% Ethylene 39% Utilities 9% Benzene 7% Butadiene 5% Propylene 13%
29 #--. &''5 Others 10% Personnel 2% Maintenance 1% Depreciation 4% Naphtha 83%
30 72 US$/t % 64% % 62% % % % % % % % 58% % 70% 60% 50% 40% 30% 20% 10% 0 1Q99 2Q99 3Q99 4Q99 1Q00 2Q00 3Q00 4Q00 1Q01 2Q01 3Q01 4Q01 0% Spread Ethylene Naphtha
31 R$ (3) (12) (66) (50) 32 (32) (12) (22) (71) R$ / ton (107) -150 (124) 0 jan/01 fev/01 mar/01 abr/01 mai/01 jun/01 jul/01 ago/01 set/01 out/01 nov/01 dez/01 International Naphtha Price FX Rate Naphtha Price
32 R$ MM OBS: Consolidated Figures
33 2 R$ MM (5) (25) Net Income EBIT Net Financial Expenses Includes 25 days scheduled maintenance shutdown OBS: Consolidated Figures
34 9 In Millions of R$ Increase in produc. capacity 6,1 59,8 207,3 Maintenance Capex 30,5 37,1 57,4 Maintenance shutdowns 6,2 16,0 48,1 Others 10,8 6, ,3 TOTAL 53,6 119, ,1
35 (-22 To have, at least, the following coverage over the US dollar debt maturing within the next 12 months: Trade related debt % 75% Non-trade related debt
36 -2 5&7857'5 PETROQUÍMICA DO NORDESTE S. HEDGE operations over the maturing outstanding and interest debt for the next 12 months. US$ Millions Non-Export Related Financing Eurobonds Others 13.0 Minimum Hedge (75%) Export Related Financing Export Pre-payment Facility Others 0.4 Minimum Hedge (60%) 75.7 REQUIRED HEDGE Hedge on 12/31/ Marketable Securities in US$ Exports Receivables 7.9. Swap Foreign Exchange Rate x CDI 92.6
37 "$,"% Founded in 1972 s shares (float = 42%) have been trading on the São Paulo Stock Exchange since ADR Level I established in Upgrade to Level II, with listing on the NYSE on December 21, Five bond offerings since Four issues redeemed. - Issue outstanding: 9.0% US$150 million due 2007 (put in June 2002). Ten debentures issued in the domestic market.
38 "(""1$:;. )"#" Dec/00 Jan/01 Feb/01 Mar/01 Apr/01 May/01 Jun/01 Jul/01 Aug/01 Sep/01 Oct/01 Nov/01 Dec/01 Jan/02 Feb/02 +)7 "0 PETROQUÍMICA DO NORDESTE S.
39 9+) Jan/99 Mar/99 May/99 Jul/99 Sep/99 Nov/99 Jan/00 Mar/00 May/00 Jul/00 Sep/00 Nov/00 Jan/01 Mar/01 May/01 Jul/01 Sep/01 Nov/01 Jan/02 Basis Points Source : Economática Ibovespa PNE (with adjustments) PNE (w/out adjustments)
40 1". )"#" Dec/00 Jan/01 Feb/01 Mar/01 Apr/01 May/01 Jun/01 Jul/01 Aug/01 Sep/01 Oct/01 Nov/01 Dec/01 Jan/02 Feb/02 <744 0 PETROQUÍMICA DO NORDESTE S.
41 91= PETROQUÍMICA DO NORDESTE S.A Copene PNE Dow Jones IA
42 - - Term: 10 years US$ Million % Term: 2 years 11.00% Term: 2 years 10.50% Term: 5 years 9.50% 150 Term: 8 years 9.00% 12.00% 11.00% 10.00% 9.00% 8.00% 7.00% Coupon Year of the issue 6.00% Amount issued Coupon
43 >". 1 Fitch, the international rating agency, has assigned a national scale rating of A-(bra) (A minus (bra)) to Petroquímica do Nordeste S.A. () and its 5-year, BRL625 million local debenture issuance. The Outlook for the assigned ratings is Stable. S & P Assigns bra on its Brazil National Scale to - Petroquímica do Nordeste S/A, as well as to its forthcoming Debentures issuance in the domestic market in the amount of R$625 million. The rating are simultaneously placed in credit watch with positive implication
44 BRASKEM
45 +?!-- Petroquisa Petros / Previ Odebrecht Mariani Market Copene OPP Polialden Trikem Proppet Nitrocarbono 30.9% 29.6% Politeno Copesul % of Total Capital
46 +?!-- Petroquisa Petros / Previ Odebrecht Mariani Market Copene OPP Polialden Trikem Proppet Nitrocarbono 30.9% 29.6% Politeno Copesul % of Total Capital
47 . I - Acquisition of Assets in the Public Auction II - Consolidation of Odebrecht s and Mariani s major petrochemical investments into Copene III Integration of assets after negotiation with minority shareholders
48 +? / "!"
49 &'' % of Net Sales 12.8 Companies involved in Braskem Project = 24.3% , , , Distribuidoras Politeno Exportação Trikem Oxiteno OPP Polibrasil Polialden Estireno Petroflex Outros Ciquine Proppet Rhodiaco Acrinor Nitrocarbono Dow Deten Isopol/TDI
50 )- #$%& '(()##* R$ MM Taxes Industrial Adm. Commercial Financial Total
51 +"%, 7+/))1 '02/)## 8+/))1 '409)## +, - / ,- (). -3% 14. %+*5% /. % 2. - /
52 ,?$. +"%,,: DOW BRASKEM 20% PQU 14% Basic Petrochemicals Copesul 31% Ipiranga 11% Basell (JV s) Cuyo 6% Polypropylene BRASKEM 39% 35% 44% Triunfo 3% Outros 9% Ipiranga 18% Polyethylene BRASKEM 31% Solvay 49% PVC BRASKEM 51% Politeno 12% Dow 27% Note: Mercosul Market
53 +"%,,5;/))1 '1(24## 0(9 14 1&(24 / )4 </= >(2 >)( (/ <1= 401 %!-8!-- 8!%;,!8!,;+$# -!?;?58 $# <1=-%-& </=-%%&
54 +"%, '4>/4## 2&/ R$ MM Cash and Marketable Securities on 12/31/01 Maturity 1, , , <A=-%-%& Reais Dollars (Exports Related) Dollars (Non-Exports Related) ,
55 3. +"%, B 85@*,5; % D(&4 -C/))/ <1= (&(,5;* E(&) (&1,5;*5@+ </= E1&04 /&1 <1=,1/*(1*)1C/))/& </= &
56 , Absence of conflict of interest regarding the integration of petrochemical assets from Odebrecht and Mariani groups into ; All the assets to be integrated into shall be subject to an independent appraisal by a first line investment bank; Modern principles of Corporate Governance; Right of tag-along sale to all common and preferred shareholders, in the case of cession of the control of ; Practice of the principle of Full Disclosure ; Attention to the capital market regulating entities and to the entities for protection of free competition.
57 +?> 3" Standard and Poor's has assigned a provisory national scale rating of braa-. The RES outcome on Braskem reflects the solid business and market positions that the company is expected to have in the petrochemical industry in Brazil; sound cash flow protection; product diversification; modest capital requirements over the next several years; high growth potential; and favorable competitive position due to its large scale. FITCH has assigned a provisory national scale rating of A+(bra). The rating is supported by Braskem s expectation of significant improvement of scale and operational synergies; vertical integration, strong market position in the Brazilian and Latin America; clear controlling shareholders with focus; attractive local industry; competitive production cost and proven access to international capital markets.
58 )""$ CONTACT: CARLOS AUGUSTO DE O. FREITAS - Head of IR VISIT OUR WEB SITE : Phone: Fax: caof@copene.com.br
Earnings Conference Call 1Q17
Earnings Conference Call Investor Relations São Paulo, May 15th, 2017 DISCLAIMER ON FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements. These forward-looking statements are
More information! " " # #$ %" $ & # '(()
)4() - &! " " # #$ %" $ & # '(()!" # $% &# ' %% % * +!, -+. /0, '(( 1 ()*+,-./0+1,-2".34,4-5$ % % % 6 3 % %6 % 7 %8 9 '% $ ' %'% ::; '%
More informationBraskem. November, 2015
Braskem November, 2015 2 Disclaimer on forward-looking statements This presentation includes forward-looking statements. These forward-looking statements are not solely historical data, but rather reflect
More informationBraskem s net income grows 37% from prior quarter to reach R$ 107 million. EBITDA for the quarter was R$ 432 million, with a 15% margin
Braskem s net income grows 37% from prior quarter to reach R$ 107 million EBITDA for the quarter was R$ 432 million, with a 15% margin São Paulo, May 3, 2007 --- BRASKEM S.A. (BOVESPA: BRKM5; NYSE: BAK;
More informationSuzano Petroquímica S.A. Independent accountant s review report Interim Financial Information September 30, 2003
Suzano Petroquímica S.A. Independent accountant s review report Interim Financial Information September 30, 2003 KPMG Auditores Independentes Mail address Caixa Postal 2467 01060-970 São Paulo, SP Brazil
More informationEarnings Conference Call 4Q15
Earnings Conference Call 4Q15 Investor Relations São Paulo, February 19, 2016 Disclaimer on forward-looking statements This presentation includes forward-looking statements. These forward-looking statements
More informationRELEVANT INFORMATION FOURTH QUARTER 2001
RELEVANT INFORMATION FOURTH QUARTER 2001 Dear Shareholders, The end of fiscal year 2001 has been marked by two important investments which represent yet another step towards growth for the Gerdau Group:
More informationBraskem S.A. and Subsidiaries. Financial Statements at December 31, 2009 and 2008 and Report of Independent Auditors
Braskem S.A. and Subsidiaries Financial Statements at December 31, 2009 and 2008 and Report of Independent Auditors Independent Auditors Report To The Board of Directors and Shareholders Braskem S.A. Camaçari
More informationBraskem S.A. and Subsidiaries
and Subsidiaries Quarterly Information (ITR) at March 31, 2010 and Review Report of Independent Accountants Review Report of Independent Accountants To the Management and Stockholders 1 We have reviewed
More informationNet Income of R$ 71.5 million in the 2Q07, accumulating R$ million in the 1H07
Conference Calls Aug 03, 2007 Portuguese: 10:00 AM Brasília (9:00 AM NY) Suzano Petroquímica Releases 2Q07 Results Ebitda of R$ 73 million, almost 4 times 2Q06 Ebitda and also 6% above the 1Q07, and Net
More informationMeeting with Investors. IR Braskem July 2016
Meeting with Investors IR Braskem July 2016 1 Disclaimer on forward-looking statements This presentation includes forward-looking statements. These forward-looking statements are not solely historical
More informationEarnings Release 2Q17
HIGHLIGHTS: Braskem Consolidated: EBITDA reaches R$6.6 billion in first six months Net income in year to date was R$3 billion Braskem s consolidated EBITDA in 2Q17 was US$945 million, advancing 10% on
More information2Q09 EBITDA of R$566 million, with EBITDA Margin of 15.3%
2Q09 EBITDA of R$566 million, with EBITDA Margin of 15.3% Net Income grows to R$1.2 billion in 2Q09 São Paulo, Brazil, August 12, 2009 BRASKEM S.A. (BOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX:
More informationBraskem S.A. Financial Statements at December 31, 2013 and 2012 and Independent Auditors' Report
Financial Statements at December 31, 2013 and 2012 and Independent Auditors' Report Independent auditor s report To the Board of Directors and Shareholders Braskem S.A. We have audited the accompanying
More informationFixed Income Presentation 1Q18
Fixed Income Presentation 1Q18 1 Agenda 1. Company Overview 2. Investment Highlights 3. Operating and Financial Highlights 2 Section 1 Company Overview 3 Company Overview Company Overview Competitive Advantages
More information3Q18 EARNINGS RELEASE
EBITDA reached US$909 million in 3Q18, increasing 5% from 3Q17 and 4% from 2Q18 3Q18 HIGHLIGHTS: Braskem Consolidated: EBITDA in 3Q18 was US$909 million, up 4% from 2Q18, due to sales recovery in Brazil
More informationMeeting with Investors. IR Braskem November 2016
Meeting with Investors IR Braskem November 2016 1 Disclaimer on forward-looking statements This presentation includes forward-looking statements. These forward-looking statements are not solely historical
More informationBRASKEM S.A. Corporate Taxpayer ID (CNPJ): / Company Registry (NIRE): Publicly Held Company MATERIAL FACT
BRASKEM S.A. Corporate Taxpayer ID (CNPJ): 42.150.391/0001-70 Company Registry (NIRE): 29.300.006.939 Publicly Held Company MATERIAL FACT Braskem S.A. ("Braskem or the Company"), in compliance with the
More informationFixed Income Presentation 4Q17
Fixed Income Presentation 4Q17 1 Agenda 1. Company Overview 2. Investment Highlights 3. Operating and Financial Highlights 2 Section 1 Company Overview 3 Company Overview Company Overview Competitive Advantages
More informationFixed Income Presentation 3Q17
Fixed Income Presentation 3Q17 1 Agenda 1. Company Overview 2. Investment Highlights 3. Operating and Financial Highlights 2 Section 1 Company Overview 3 Company Overview Company Overview Competitive Advantages
More informationCapital Markets and M&A in Latin America
Capital Markets and M&A in Latin America 10th Annual LABA Conference Latin America: Growth Perspectives in a Shifting Political Landscape Bernardo Parnes Chief Executive Officer - Banco Bradesco BBI S.A.
More informationNova Petroquímica Releases 2007 Results
Nova Petroquímica Releases 2007 Results São Paulo, February 20, 2008 Nova Petroquímica, fancy name of the company Suzano Petroquímica S.A., (the Company ) (BOVESPA: SZPQ4; LATIBEX: XSUPT), Latin American
More informationEARNINGS RELEASE 1Q18 RESULTADOS
EARNINGS RELEASE 1Q18 CONFERENCE CALL IN ENGLISH May 11 th, 2018 - Friday 10:00 a.m. (US ET) 11:00 a.m. (BRT) / 3:00 p.m. (London) Connecting Number: +1 (412) 317 6776 Code: Valid Webcast: click here Valid
More informationUltrapar Participações S.A. November 2018
Ultrapar Participações S.A. November 2018 Considerations Forward-looking statements This document may include forward-looking statements within the meaning of the safe harbor provisions of the United States
More informationBraskem S.A. Quarterly Information (ITR) at March 31, 2012 and Report on the Review of Quarterly Information
Quarterly Information (ITR) at March 31, 2012 and Report on the Review of Quarterly Information Report on the review of the quarterly information To the Board of Directors and Shareholders Braskem S.A.
More informationEBITDA of R$4.1 billion in 2010, up 27% from 2009
4Q10 and 2010 Results EBITDA of R$4.1 billion in 2010, up 27% from 2009 HIGHLIGHTS: Braskem consolidated EBITDA stood at R$ 1.1 billion in the last quarter of the year Quattor s crackers operated at capacity
More informationEBITDA grows 19% to R$729 million in 1Q10
EBITDA grows 19% to R$729 million in 1Q10 EBITDA LTM reached R$ 2.7 billion São Paulo, May 14, 2010 - BRASKEM S.A. (BM&FBOVESPA: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK), the leading resins producer
More informationConference Call / Webcast Third Quarter 2008 Earnings
Conference Call / Webcast Third Quarter 2008 Earnings Paulo Penido Pinto Marques CFO and Investor Relations Director October 31, 2008 1 Disclaimer Declarations relative to business perspectives of the
More informationSuzano Papel e Celulose S.A. Unaudited Condensed Consolidated Interim Financial Information as of June 30, 2018 and independent auditor s report.
Unaudited Condensed Interim Financial Information and independent auditor s report. Unaudited condensed consolidated interim financial information Adjusted EBITDA¹ in 2Q18 of R$1,449/ton, leading the industry
More informationEarnings Conference Call 2Q18
Earnings Conference Call 2Q18 Disclaimer This communication contains certain statements that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
More informationHighlights of the third quarter of 2017
Consolidated Highlights Free cash flow of R$ 500 million in 3Q17, double the amount generated in 2Q17. Selling, general and administrative expenses decrease 18% in 3Q17 compared to 3Q16, corresponding
More informationMEETING WITH INVESTORS MAY 2018
MEETING WITH INVESTORS MAY 2018 DISCLAIMER ON FORWARD-LOOKING STATEMENTS This presentation includes forward-looking statements. These forward-looking statements are not solely historical data, but rather
More informationCIA. SUZANO DE PAPEL E CELULOSE
Bovespa: Suza4 Closing Price Oct. 20: R$ 10.30 Latibex: BRSUZAACNPR9 ADR: CSZPY CIA. SUZANO DE PAPEL E CELULOSE Announces its 2003 Third Quarter Consolidated Results Increased exports and higher prices
More information1Q18 Earnings Release APRIL 26, 2018
1Q18 Earnings Release APRIL 26, 2018 ADJUSTED EBITDA REACHES R$ 760 MILLION IN 1Q18, 41% GROWTH IN RELATION TO 1Q18. ADJUSTED EBITDA NET REVENUE KRAFTLINER SALES REVENUE PULP SALES VOLUME REDUCTION OF
More informationEBITDA reaches R$3.2 billion in 2Q18, increasing 5% from 2Q17 and 20% from 1Q18
EBITDA reaches R$3.2 billion in 2Q18, increasing 5% from 2Q17 and 20% from 1Q18 2Q18 HIGHLIGHTS: Braskem Consolidated: EBITDA amounted to US$877 million, 7% higher than in 1Q18, due to (i) higher spreads
More informationEquity offering and sale of forest assets of Bahia Produtos de Madeira (BPM) totaled R$1.6 billion in liquidity events to reduce leverage
Equity offering and sale of forest assets of Bahia Produtos de Madeira (BPM) totaled R$1.6 billion in liquidity events to reduce leverage Key Figures Unit 1Q12 4Q11 4Q11 Last 12 months Pulp Production
More information9 Months Months ,257 7, Sales (1,000 t) ,7%
Porto Alegre, November 8 th, 05 GERDAU S.A. CONSOLIDATED 05 First Nine Months Results Brazilian Corporate Law Highlights Gross revenue Consolidated gross revenue in the first nine months of 05 reached
More informationComgás gas sales revenue moves up 24.2% and EBITDA totals R$ 1,035.0 million in 2008
Comgás gas sales revenue moves up 24.2% and EBITDA totals R$ 1,035.0 million in 2008 Annual Net Income increases by 16% to R$ 514.0 million in 2008 São Paulo, March 18, 2009. Companhia de Gás de São Paulo
More information4Q10 Results. 4Q10 Results
1 Sale of Conpacel and KSR for R$1.5 billion reinforces Fibria s strategy of focusing on the pulp business and reducing its leverage. Key Indicators 1 4Q10 3Q10 4Q09 4Q10 vs. 3Q10 4Q10 vs. 4Q09 2010 2009
More informationOxiteno S. A. - Indústria e Comércio and Subsidiary Companies
O x i t e n o Balance sheet at December 31, 2001 and 2000 C o n s o l i d a t e d A s s e t s 2001 2000 Current assets C a s h 8, 469 5, 522 Temporary cash investments 380, 134 376, 287 Accounts receivable
More informationInvestor Presentation
March, 2010 1 Disclaimer This document can contain statements which constitute forward-looking statements. Such forward-looking statements are dependent on estimates, data or methods that may be incorrect
More informationFinancial & Business Highlights For the Year Ended June 30, 2017
Financial & Business Highlights For the Year Ended June, 17 17 16 15 14 13 12 Profit and Loss Account Operating Revenue 858 590 648 415 172 174 Investment gains net 5 162 909 825 322 516 Other 262 146
More information2Q18 Earnings Release JULY 30 th, 2018
2Q18 Earnings Release JULY 30 th, 2018 ADJUSTED EBITDA REACHES R$ 884 MILLION IN 2Q18 YEAR ON YEAR GROWTH OF 49% ADJUSTED EBITDA SALES REVENUES KRAFTLINER SALES REVENUE PULP PRODUCTION IN JUNE EBITDA MARGIN
More informationInvestor Presentation
March, 2010 1 Disclaimer This document can contain statements which constitute forward-looking statements. Such forward-looking statements are dependent on estimates, data or methods that may be incorrect
More informationQ4 and Full Year 2016 Financial Results February 23, 2017
Q4 and Full Year 2016 Financial Results February 23, 2017 Trademark of Trinseo S.A. or its affiliates Introductions & Disclosure Rules Introductions Chris Pappas, President & CEO Barry Niziolek, Executive
More informationSelected quarterly information. 2 nd quarter 2017
Selected quarterly information 2 nd quarter 2017 Contents Ownership structure Highlights Economic performance Performance assessment ITAÚSA in the stock market Flow of dividends / Interest on capital Financial
More informationTHE OECD SELECTION. Construction, sales, trade and transport. Economic activity in foreign countries Business and consumer
THE OECD SELECTION Subject Indicator % Brazil % OECD Production, stocks and orders Crude steel production 11.1 7.7 Construction, sales, trade and transport...... 10.9 Labour force...... 1.9 Prices, costs
More informationPulp Production 000 t % 32% Pulp Sales 000 t % 22% 6.497
Leverage reduction to 2.02x in US$ and 2.08x in R$ Adjusted EBITDA of R$1,824 million, with a margin of 55% The learning curve of the new Horizonte 2 production line is 90% reached Key Figures Unit 1Q18
More informationINEOS STYROLUTION. Q1/ 2018 Investor Earnings Call
INEOS STYROLUTION Q1/ 2018 Investor Earnings Call Disclaimer The following presentation includes forward-looking statements, within the meaning of the US securities laws, based on our current expectations
More informationSuzano Petroquímica S.A.
Financial Statements for the years ended December 31, 2004 and 2003 together with the Management Report on Performance and the Report of Independent Auditors Deloitte Touche Tohmatsu Auditores Independentes
More information2017 1Q Results. May 2017
217 1Q Results May 217 Agenda 1. Financials 2. Market Fundamental 3. Industry Outlook 4. Plant Operation 5.Expansion 2 Financial Status (Unit: NTD Million) 4Q16 1Q17 QoQ 1Q16 YoY Revenues 152,287 164,486
More information2Q14 EBITDA was R$ 1.1 billion,
2Q14 Earnings Release 2Q14 EBITDA was R$ 1.1 billion, down 17% from 1Q14 on a recurring basis HIGHLIGHTS: The average cracker utilization rate stood at 84%, decreasing 1 p.p. from 1Q14, due to the scheduled
More information140k. 90k DIVERSIFICATION AND FLEXIBILITY. TOTAL FIBERS 3.5 million tpy. TOTAL LAND 490k hectares. TOTAL CAPACITY 3.5 million tpy. 1.
PRESENTATION 2Q18 1 DIVERSIFICATION AND FLEXIBILITY TOTAL LAND 490k hectares TOTAL FIBERS 3.5 million tpy BLEACHED PULP 1.5 mi tpy TOTAL CAPACITY 3.5 million tpy MARKET PULP 1.5 mi tpy Long fiber / Fluff
More informationSecond Quarter 2017 Financial Results August 3, 2017
Second Quarter 2017 Financial Results August 3, 2017 Trademark of Trinseo S.A. or its affiliates Introductions & Disclosure Rules Introductions Chris Pappas, President & CEO Barry Niziolek, Executive Vice
More information1Q10 Results. Conference Call. Tenda. Alphaville. Gafisa. Investor Relations Contact Luiz Mauricio de Garcia Paula
1Q10 Results Conference Call Tenda Alphaville Gafisa Investor Relations Contact Luiz Mauricio de Garcia Paula ri@gafisa.com.br 1 Safe-Harbor Statement We make forward-looking statements that are subject
More information3Q18 Earnings Release
3Q18 Earnings Release Operating Cash Generation¹ sets new quarterly record of R$1.8 billion São Paulo, October 25, 2018. Suzano Papel e Celulose (B3: SUZB3), one of the largest integrated pulp and paper
More informationLight S.A. Corporate Presentation. Citi's 16th Annual Latin America Conference February 2008
Light S.A. Corporate Presentation Citi's 16th Annual Latin America Conference February 2008 1 Light s Corporate Structure 4 th largest integrated Company in the Brazilian electric industry Light S.A. (Holding)
More information4Q16. Discussion Material
Discussion Material - 2016 March, 2017 Disclaimer This document may contain prospective statements, which are subject to risks and uncertainties as they were based on expectations of the Company s management
More information1Q17. BH Shopping, Belo Horizonte
BH Shopping, Belo Horizonte Discussion Material May, 2017 Disclaimer This document may contain prospective statements, which are subject to risks and uncertainties as they were based on expectations of
More informationBoard of Directors Zurich, 24 March, 2009 Dufry Presentation - Full Year 2009 Results
Dufry Presentation - Full Year 2009 Results March 2010 1 Legal Disclaimer Information in this presentation may involve guidance, expectations, beliefs, plans, intentions or strategies regarding the future.
More informationReduction of R$177 million (2Q18/2Q17) R$649 million - Total amount. Premium of 76.8% on auction reserve price
2Q18 Results Disclaimer 2 Certain statements and estimates in this material may represent expectations about future events or results, which are subject to risks and uncertainties, which may be known or
More informationBanco do Brasil Ordinary Shareholders Meeting 4/26/2012. Management Proposals and Other Documents for Information to Shareholders
Banco do Brasil Ordinary Shareholders Meeting 4/26/2012 Management Proposals and Other Documents for Information to Shareholders Ordinary Shareholders Meeting - Comments from Management (CVM 481, Art.
More informationUsinas Siderúrgicas de Minas Gerais S.A. - USIMINAS Quarterly Information (ITR) at June 30, 2017 and report on review of quarterly information
(A free translation of the original in Portuguese) Usinas Siderúrgicas de Minas Gerais S.A. - USIMINAS Quarterly Information (ITR) at June 30, 2017 and report on review of quarterly information Contents
More informationQ Earnings Summary August 5, 2015
Q2 2015 Earnings Summary August 5, 2015 Trademark of Trinseo S.A. or its affiliates Introductions & Disclosure Rules Introductions Chris Pappas, President & CEO John Feenan, Executive Vice President &
More informationPulp Production 000 t 1,809 1,600 1,449 13% 25% 4,997 3,983 25% 6,656. Pulp Sales 000 t 1,988 1,768 1,475 12% 35% 5,347 4,316 24% 7,244
Fibria registers record-high Adjusted EBITDA, EBITDA/t, EBITDA margin and LTM FCF Leverage ratio down to lowest level since the inception of the Company, at 1.18 in USD Key Figures Unit 3Q18 9M18 9M17
More informationSuzano Petroquímica Announces 3 rd Quarter 2005 Earnings Results
Suzano Petroquímica Announces 3 rd Quarter 2005 Earnings Results Suzano Petroquímica takes the control of the largest polypropylene operation in Latin America and reaches a R$672 million pro-forma net
More informationWebcast Third Quarter 2005 Results. Presentation:11/10/05 Paulo Penido Pinto Marques Director of Finance and Investor Relations
Webcast Third Quarter 2005 Results Presentation:11/10/05 Paulo Penido Pinto Marques Director of Finance and Investor Relations Disclaimer Declarations relative to business perspectives of the Company,
More informationNow, I ll turn the conference over to Pedro Teixeira, IR, Controller and Project Finance Director. Mr. Teixeira, you may begin your conference.
Operator: Good afternoon ladies and gentlemen. At this time, we would like to welcome everyone to Braskem s fourth quarter and full year of 2015 earnings conference call. Today with us we have: Carlos
More information3Q18 Earnings Conference Call
3Q18 Earnings Conference Call Disclaimer This communication contains certain statements that are forwardlooking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E
More informationXML Publisher Balance Sheet Vision Operations (USA) Feb-02
Page:1 Apr-01 May-01 Jun-01 Jul-01 ASSETS Current Assets Cash and Short Term Investments 15,862,304 51,998,607 9,198,226 Accounts Receivable - Net of Allowance 2,560,786
More informationUNIPAR ANNOUNCES 2Q09 RESULTS
UNIPAR ANNOUNCES 2Q09 RESULTS São Paulo, August 14, 2009 UNIPAR União de Indústrias Petroquímicas S.A. (BOVESPA: UNIP3, UNIP5 and UNIP6), one of the leading Brazilian petrochemical groups, with consolidated
More informationSuzano Petroquímica Announces 2005 Results
Suzano Petroquímica Announces 2005 Results Polibrasil s incorporation and Riopol s start up are historical marks for the Company São Paulo, March 14, 2005 Suzano Petroquímica S.A. (the Company ) (BOVESPA:
More informationThe Siam Cement Public Company Limited Management s Discussion and Analysis (MD&A) Consolidated Financial Results: Q2/10 and H1/10
The Siam Cement Public Company Limited Management s Discussion and Analysis (MD&A) Consolidated Financial Results: Q2/10 and H1/10 Q2/10 Net Profit of 7,295 MB, up 6% q-o-q and 7% y-o-y. H1/10 Net Profit
More informationLocaliza Rent a Car S.A.
Localiza Rent a Car S.A. Confins airport branch Belo Horizonte 24h reservation 0800 979 2000 www.localiza.com 1 Integrated business platform 28,080 cars 172 agencies 1.2 million clients 16,600 cars 405
More informationSelected quarterly information. 3 rd quarter 2016
Selected quarterly information 3 rd quarter 2016 Contents Ownership structure Highlights Economic performance Performance assessment ITAÚSA in the stock market Flow of dividends / Interest on capital Financial
More informationFirst Quarter 2018 Financial Results May 2, 2018
First Quarter 2018 Financial Results May 2, 2018 Trademark of Trinseo S.A. or its affiliates Introductions & Disclosure Rules Introductions Chris Pappas, President & CEO Barry Niziolek, Executive Vice
More informationBraskem S.A. Quarterly Information (ITR) at June 30, 2013 and Independent Auditors Report Review
Quarterly Information (ITR) at June 30, 2013 and Independent Auditors Report Review Report on Review of Quarterly Information To the Board of Directors and Shareholders Braskem S.A. Introduction We have
More information1Q17 C o n f e re n c e C a l l
1Q17 C o n f e re n c e C a l l Disclaimer The statements in this presentation constitute projections or forward-looking statements. Such statements are subject to known and unknown risks and uncertainties
More informationLOCAMERICA Investors Institutional Presentation
228, 132, 106 85, 134, 180 233, 234, 235 254, 221, 34 LOCAMERICA Investors Institutional Presentation 90, 90, 90 1, 64, 148 226, 31, 29 History of Entrepreneurship and Growth 1993 2000 2008 2012 2015/16
More informationNova Petroquímica Makes Public the Result of 1 st Quarter 2008
Nova Petroquímica Makes Public the Result of 1 st Quarter 2008 Investor Relations: + 55 11 3583 5872 szpq_ri@novapetroquimica.com.br São Paulo, May 14, 2008 Nova Petroquímica, fancy name of the company
More informationInstitutional Presentation 3Q14
Institutional Presentation 3Q14 1 I. GENERAL OVERVIEW II. BUSINESS ENVIRONMENT III. 3Q14 RESULTS IV. GROWTH OPPORTUNITIES 2 Cetip s Timeline 1986 Cetip starts its operations 1994 Beginning of OTC Derivatives
More informationSelected quarterly information. 4 th quarter 2016
Selected quarterly information 4 th quarter 2016 Contents Ownership structure Highlights Economic performance Performance assessment ITAÚSA in the stock market Flow of dividends / Interest on capital Financial
More informationOperating cash generation¹ of R$ 906 million in 3Q17 boosted by strong performance of pulp segment and margin recovery in paper segment
3Q17 Results Operating cash generation¹ of R$ 906 million in 3Q17 boosted by strong performance of pulp segment and margin recovery in paper segment São Paulo, October 26, 2017. Suzano Papel e Celulose
More informationHighlights in the second quarter of 2014
Mission To create value for our customers, shareholders, employees and communities by operating as a sustainable steel business. Vision To be a global organization and a benchmark in any business we conduct.
More informationCETIP S.A. Balcão Organizado de Ativos e Derivativos Quarterly information at March 31, 2011
(A free translation of the original in Portuguese) CETIP S.A. Balcão Quarterly information at March 31, 2011 Quarterly information at March 31, 2011 Contents Comments on performance 3-10 Independent auditors
More informationAdjusted EBITDA 1 of R$ 847 million is an industry highlight with operating performance improvement and ROIC of 10.6%
1Q17 Results Adjusted EBITDA 1 of R$ 847 million is an industry highlight with operating performance improvement and ROIC of 10.6% São Paulo, May 3, 2017. Suzano Papel e Celulose (Bovespa: SUZB5), one
More informationEarnings Release 2nd Quarter 2017
Earnings Release 2 nd Quarter 2017 1 São Paulo, July 31 st, 2017 Banco PAN S.A. ( PAN, Bank, Banco PAN or Company ) and its subsidiaries, pursuant to legal provisions, hereby releases its results for the
More informationLeverage ratio in USD reaches lowest level since 3Q15, at 1.58x
Leverage ratio in USD reaches lowest level since 3Q15, at 1.58x Record adjusted EBITDA of R$2,499 million with record margin of 58% and record FCF at R$1.7 billion Key Figures Unit 2Q18 6M18 6M17 Last
More informationUNIPETROL 4Q 2013 FINANCIAL RESULTS
UNIPETROL 4Q 2013 FINANCIAL RESULTS Marek Świtajewski, CEO Mirosław Kastelik, CFO Prague, Czech Republic AGENDA Key highlights of 4Q 2013 Macro environment Financial results Segment results CAPEX, cash
More informationThird Quarter 2017 Financial Results November 2, 2017
Third Quarter 2017 Financial Results November 2, 2017 Trademark of Trinseo S.A. or its affiliates Introductions & Disclosure Rules Introductions Chris Pappas, President & CEO Barry Niziolek, Executive
More informationHighlights of the second quarter of 2017
Highlights of the second quarter of Consolidated Highlights EBITDA of R$ 1.1 billion in 2Q17, with EBITDA margin expansion in relation to 2Q16 and 1Q17. Selling, general and administrative expenses declined
More information4Q 2016 Earnings Release
SK innovation 4Q 2016 Earnings Release 2017. 2. 3 Disclaimer This presentation contains forward-looking statements with respect to financial conditions, results of operations and business of SK Innovation,
More informationStrong operating and financial performance: solid results and continuous transformation to support Suzano s constant evolution
2Q17 Results Strong operating and financial performance: solid results and continuous transformation to support Suzano s constant evolution São Paulo, August 2, 2017. Suzano Papel e Celulose (B3: SUZB5),
More informationConference Call 4Q11 Results. March 09, 2012
Conference Call 4Q11 Results March 09, 2012 Financial Highlights Net Revenues (R$ mm) Adjusted Op. Expenses (ex-d&a) R$ mm % of Net Revenues - 6.3 p.p. +12.1% + 33.1% 557.5 741.8 35.1% 25.5% 26.5% 25.9%
More information3 rd Quarter 2013 Results
Joinville, November 14th, 2013 1 3 rd Quarter 2013 Results 2 HIGHLIGHTS 1 Sales volume 163.0 thousand tonnes on, 4% higher than 2 Revenues R$ 843.3 mm on, 13% higher than registered on, 34% from domestic
More informationQuarterly Information (ITR) at September 30, 2017 and report
Quarterly Information September 30, 2017 Quarterly Information (ITR) at September 30, 2017 and report Suzano from Papel independent e Celulose auditors. S.A. 0 Quarterly Information September 30, 2017
More informationBanco do Brasil. 2Q10 Conference Call
Banco do Brasil 2Q10 Conference Call 1 Disclaimer This presentation may include references and statements, planned synergies, increasing estimates, projections of results and future strategy for Banco
More information1Q15 Results Conference Call
1Q15 Results Conference Call May/2015 Economic-Financial Office and Investor Relations Office Notice This presentation may contain forward-looking statements referring to SABESP s business outlook. operating
More informationThird Quarter 2015 Earnings Call October 29, 2015
Third Quarter 2015 Earnings Call October 29, 2015 Rob Wagman President & Chief Executive Officer Nick Zarcone Executive Vice President & Chief Financial Officer Joe Boutross Director, Investor Relations
More informationCreating Value to Shareholders
COSAN DAY 2017 DISCLAIMER This presentation contains estimates and forward-looking statements regarding our strategy and opportunities for future growth. Such information is mainly based on our current
More information