SCA interim report Q3 2011
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http://www.sca.com/Q32011en SCA’s interim report for the period 1 January – 30 September 2011 has been published. Operating profit , excl. restructuring costs, decreased by 5% (decreased by 1% excl. exchange rate effects) to SEK 6,697m. Net sales decreased by 1% (increased by 6% excl. exchange rate effects and divestments) to SEK 79 001m. Earnings per share rose 2% (7% excl. exchange rate effects) to SEK 5.66. http://www.sca.com/ir http://www.facebook.com/SCA http://www.twitter.com/SCAeveryday http://www.youtube.com/SCAeveryday
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SCA interim report Q3 2011
- 1. Interim Report 1 January – 30 September 2011 Interim Report Q3 2011
- 2. Raw material price development Sept 2010 – USD 972 NBSK pulp Sept 2011 – USD 968 Recovered paper - Europe Sept 2010 – EUR 118 Sept 2011 – EUR 150 USD/metric ton 190 EUR/t EUR / ton 170 150 130 110 90 70 50 30 -00 -01 -02 -03 -04 -05 -06 -07 -08 -09 -10 -11 OCC ONP/OMG Sept 2010 – USD 222 Sept 2010 – EUR 0.34 Recovered paper - US Sept 2011 – USD 250 Oil based material Sept 2011 – EUR 0.47 USD/short ton EUR / kg 2 Interim Report Q3 2011
- 3. Summary - Q3 2011 vs Q3 2010 Sales increased 6%* Hygiene business Higher volumes and prices Good growth in emerging markets • Personal care, 17%* • Tissue, 13%* Packaging and Forest Products Packaging volumes increased 3%** • Corrugated prices increased 9% Publication paper volumes increased 3% Solid-wood product volumes decreased 7% EBIT decreased 2%*** Higher prices and volumes Cost savings Raw material costs increased SEK 900m Negative currency impact, SEK 180m Profit before tax decreased 5%*** Cash flow from current operations: SEK 2,557m * Adjusted for exchange rate movements and divestments ** Excluding divestments *** Excluding restructuring costs and adjusted for exchange rate movements 3 Interim Report Q3 2011
- 4. Summary – 9M 2011 vs 9M 2010 Sales increased 6%* Hygiene business Higher volumes and prices Good growth in emerging markets • Personal care, 12%** • Tissue, 10%** Packaging and Forest Products Packaging volumes increased 3%*** • Corrugated prices increased12% Publication paper volumes increased 1% Solid-wood product volumes increased 7% EBIT decreased 1%**** Higher prices and volumes Cost savings Raw material costs increased SEK 3.1bn Negative currency impact, SEK 700m Profit before tax decreased 2%**** Cash flow from current operations: SEK 4,397m * Adjusted for exchange rate movements and divestments ** Adjusted for exchange rate movements *** Excluding divestments **** Excluding restructuring costs and adjusted for exchange rate movements 4 Interim Report Q3 2011
- 5. Q3 2011 results SEK millions Q3 Q3 Change, Change, Q2 unless otherwise stated 2011 2010 Q3/Q3,% Q3/Q3,%*** 2011 Net sales* 26,937 26,647 1 6 26,671 EBIT** 2,435 2,574 -5 -2 2,150 EBIT margin** (%) 9.0 9.7 8.1 Profit before tax** 2,084 2,274 -8 -5 1,873 Earnings per share (SEK) 1.82 1.95 -7 -4 1.96 Cash flow from current operations 2,557 2,194 1,487 * Net sales from SCA´s recycling operations have been reclassified as other income, with retroactive adjustment for 2010 ** Excluding restructuring cost *** Adjusted for exchange rate movements 5 Interim Report Q3 2011
- 6. First nine months 2011 results SEK millions 9M 9M Change, Change, unless otherwise stated 2011 2010 % %*** Net sales* 79,001 79,913 -1 6 EBIT** 6,697 7,041 -5 -1 EBIT margin** (%) 8.5 8.8 Profit before tax** 5,767 6,218 -7 -2 Earnings per share (SEK) 5.66 5.53 2 7 Cash flow from current operations 4,397 5,010 Debt/Equity ratio 0.58 0.59 * Net sales from SCA´s recycling operations have been reclassified as other income, with retroactive adjustment for 2010 ** Excluding restructuring cost *** Adjusted for exchange rate movements 6 Interim Report Q3 2011
- 7. Summary - Q3 2011 vs. Q2 2011 Group Sales increased 1% Higher prices EBIT increased 13%* Higher prices Raw material costs increased SEK 280m Profit before tax increased 11%* Business areas Personal Care, EBIT increased 18%* Higher prices and volumes Higher raw material costs Tissue, EBIT increased 21%* Higher volumes Higher prices and changed product mix Packaging, EBIT increased 14%* Higher prices Lower volumes Forest Products, EBIT flat* Higher prices Higher raw material costs * Excluding restructuring costs 7 Interim Report Q3 2011
- 8. Restructuring program Annual EBIT savings Total cost SEK 1,400m SEK 700m Gradual impact during Write down Cash 2012 - 2013 expenditure SEK 500m SEK 900m Q3 2011 costs Headcount reduction SEK 350m approximately 2,000 employees 8 Interim Report Q3 2011
- 9. Personal Care Q3 2011 vs Q3 2010 Sales increased 3% (+8%*) 6,310 6,125 Incontinence care increased 7%* 3% Feminine care increased 4%* Baby diapers increased 10%* Emerging markets increased 17%* Incontinence care increased 15%* SALES SEKm Q3 2011 Q3 2010 697** EBIT decreased by 1%** (0%***) 688** Higher prices -1%** Higher volumes Cost savings Higher raw material costs EBIT SEKm Q3 2011 Q3 2010 EBIT margin 10.9%**11.4%** * Adjusted for exchange rate movements ** Excluding restructuring costs *** Excluding restructuring costs and adjusted for exchange rate movements 9 Interim Report Q3 2011
- 10. Tissue Q3 2011 vs Q3 2010 Sales flat (+5%*) 9,951 9,924 Consumer tissue increased 5%* 0% AFH tissue increased 5%* Emerging markets increased 13%* SALES SEKm Q3 2011 Q3 2010 EBIT increased by 7%** (12%***) Higher prices and changed product mix 809** 753 Higher volumes 7%** Higher raw material and energy costs Negative currency impact EBIT SEKm Q3 2011 Q3 2010 EBIT margin 8.1%** 7.6% * Adjusted for exchange rate movements ** Excluding restructuring costs *** Excluding restructuring costs and adjusted for exchange rate movements 10 Interim Report Q3 2011
- 11. Packaging Q3 2011 vs Q3 2010 6,810 6,627* Sales increased by 3% (10%**) 3% Higher prices and volumes EBIT increased by 4%*** (8%****) Higher prices and volumes SALES* SEKm Q3 2011 Q3 2010 Cost savings 534*** 512 Raw material costs increased SEK 450m 4%*** Negative currency impact EBIT SEKm Q3 2011 Q3 2010 EBIT margin 7.8%*** 7.7% * Net sales from SCA´s recycling operations have been reclassified as other income, with retroactive adjustment for 2010 ** Adjusted for exchange rate movements and divestments *** Excluding restructuring costs **** Excluding restructuring costs and adjusted for exchange rate movements 11 Interim Report Q3 2011
- 12. Forest Products Q3 2011 vs Q3 2010 Sales decreased by 1% (0%*) 4,349 4,415 Publication papers • Higher prices and volumes -1% Pulp and Solid-wood products • Lower volumes SALES SEKm Q3 2011 Q3 2010 EBIT decreased by 22%** • Increased raw material costs 685** • Increased energy costs 534** • Negative currency impact -22%** • Higher publication paper prices EBIT SEKm Q3 2011 Q3 2010 EBIT margin 12.3%** 15.5%** * Adjusted for exchange rate movements ** Excluding restructuring costs 12 Interim Report Q3 2011
- 13. Outlook 2011 Uncertainty in global economy. So far no negative impact on our business. Slight price decreases on raw material. Price increases in parts of our Hygiene business. 13 Interim Report Q3 2011
- 14. Q&A 14 Interim Report Q3 2011
- 15. 15 Interim Report Q3 2011