9M2015 RESULTS NOVEMBER 2015

Transcription

1 1

2 2

3 Operational recovery in first 9 months of the year, with positive EBITDA (12.5 M ) in all operational segments Order book in Metallic Constructions registers a 2 % YTD growth to 250 M Net Debt with a reduction comparing with FY 2014, on a comparable perimeter (meaning without Solar) Management focused on the execution of the Action Plan for 2015 (conclusion of the financial restructuring process, improvement in process and in operational efficiency and reinforcement of the international presence) 3

4 4

5 RESULTS M MARTIFER CONSOLIDATED METALLIC CONSTRUCTIONS RENEWABLES HOLDING SOLAR (discontinued activity) 9M15 9M15 9M15 9M15 9M15 Revenues EBITDA EBITDA Margin 6% 4% 45% -49% 5% EBIT EBIT Margin 1% 2% -12% -64% 4% Financial Results Interests Exchange differences Other Net Financial Charges Results in affiliated companies Profit before taxes Income tax Discontinued operations Result Net Profit Attributable to non-controlling interests Attributable to shareholders

6 RESULTS REVENUES (M ) EBITDA (M ) 250,0 200, % 12,0 10, % 150,0 8,0 6,0 100,0 4,0 50,0 2,0 0,0 9M2014 9M2015 0,0 9M2014 9M2015 6

7 CAPEX AND NET DEBT CAPEX NET DEBT (M ) 0% % 56% Metallic Construction Renewables Other Total Capex of 3.6 M, mostly applied in the reinforcement of operational capacity in West Sea (Shipyard in Viana do Castelo, Portugal) M2015 Metallic Constructions Renewables Holding 7

8 CONSOLIDATED BALANCE SHEET M 9M15 Non current Assets: Intangible Assets (including Goodwill) 14.0 Tangible fixed assets Financial Investments (Including Investment properties and Available for sale investments) 35.9 Other non-current receivables 42.3 Deferred tax assets 4.6 Current assets: Inventories 9.3 Trade and other receivables Other current assets 38.6 Cash and cash equivalents and Derivatives 25.0 Non-current assets held for sale Total Assets Issued capital and Reserves 40.0 Profit for the year Equity attributable to shareholders 25.9 Non-controlling interests Total equity -7.4 Non-current liabilities: Borrowings and Obligation under finance leases Other non-current liabilities 11.7 Provisions 23.5 Deferred tax liabilities 0.9 Current liabilities: Borrowings, Obligation under finance leases and Derivatives 91.0 Trade and Other Payables 91.5 Other Current Liabilities 55.6 Liabilities related with non-current assets held for sale Total liabilities

9 9

10 MARTIFER METALLIC CONSTRUCTIONS 6% 32% 17% 12% 33% Algeria Sub-Saharan Africa Eastern Europe and Middle East Western Europe Western Europe (Naval) TOTAL : 250 M 10

11 MARTIFER METALLIC CONSTRUCTIONS OPERATIONAL ACTIVITY Martifer is currently studying the execution of several projects in the Metallic Constructions area, with special emphasis on: SHIPBUILDING AND REPAIR PORTUGAL SPORTS COMPLEXES ALGERIA 11

12 MARTIFER RENEWABLES PROJECT OVERVIEW PROJECTS IN OPERATION: 7.23 MWn/8.12 MWp (PV) PROJECTS IN OPERATION : 31.2 MW PROJECTS UNDER DEVELOPMENT: 388 MW (of which MW under construction since the end of 2014 ) PROJECTS UNDER DEVELOPMENT: MW PROJECTS IN OPERATION : 42.0 MW PROJECTS UNDER DEVELOPMENT: 66.9 MW (2.1 MW of which under commissioning and the remaining currently in stand by given the recent regulatory changes in the Romanian market) ROMANIA BRAZIL PROJECTS UNDER DEVELOPMENT: 250 MW (Wind) MWn/380 MWp (PV POLAND 12

13 SOLAR 7% 1% 52% 40% Africa America Asia Western Europe TOTAL : 269 M 13

14 14

15 MAIN STRATEGIC GUIDELINES 1 Adoption of a new organizational model Resizing and readapting the structure Improvement of the business processes and operational efficiency 2 Decrease of indebtedness through the divestment in non-core businesses and sale of non-core assets Allowing: A reduction of the cash costs A gradual debt reduction 15

16 MAIN STRATEGIC GUIDELINES 3 Reinforcement of the international presence Focusing on core geographies and on attractive opportunities profitable above average 16

17 MAIN STRATEGIC GUIDELINES 4 Focus on the Group s original business area, Metallic Constructions METAL MECHANICAL CONSTRUCTION ALUMINIUM AND GLASS INFRASTRUCTURES FOR OIL & GAS NAVAL INDUSTRY 17

18 REPRESENTATIVE FOR MARKET RELATIONS Pedro Moreira T F