slide1 n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Crown Van Gelder N.V. Velsen PowerPoint Presentation
Download Presentation
Crown Van Gelder N.V. Velsen

Loading in 2 Seconds...

play fullscreen
1 / 31

Crown Van Gelder N.V. Velsen - PowerPoint PPT Presentation


  • 151 Views
  • Uploaded on

Crown Van Gelder N.V. Velsen. Half year figures 2006. Presentation 28 July 2006. Agenda 28 July 2006. Opening Highlights HY1/06 Key figures Production and sales volume CVG P&L, Balance Sheet, Cash Flow New Business Development CVG (NBD) Results and outlook European paper companies

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Crown Van Gelder N.V. Velsen' - raymond-dyer


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide1

Crown Van Gelder N.V.

Velsen

Half year figures 2006

Presentation 28 July 2006

slide2

Agenda 28 July 2006

  • Opening
  • Highlights HY1/06
  • Key figures
  • Production and sales volume CVG
  • P&L, Balance Sheet, Cash Flow
  • New Business Development CVG (NBD)
  • Results and outlook European paper companies
  • Development of European capacities
  • Assumptions and outlook CVG for HY2/06
  • Questions
slide3

Highlights HY1/06

  • Net result EUR 0.9 million, down 80% on 2005
  • Sales volume decrease of 4.3% to 101,300 ton
  • Production volume +1.2% to 103,500 ton
  • Net profit hit by cost pushes on raw materials and energy
  • Selling price increases insufficient to offset higher input costs, due to overcapacity
  • Strong emphasis on cost reductions and investment level
  • NBD volumes develop in line with expectations
slide5

Production and Sales Volume CVG

Geographical spread

10%

14%

Outside Europe

Netherlands

6%

Other EU

20%

France

15%

Belgium/Luxembourg

22%

13%

Germany

United Kingdom

slide6

Orderintake Cepifine

Woodfree Uncoated

slide9

NBSK Price Development

Voorwaarden: termijncontracten CIF West-Europese havens

Bron: FOEX/PIX-index

slide10

Hardwood Price Development

Voorwaarden: termijncontracten CIF West-Europese havens

Bron: FOEX/PIX-index

slide11

Consolidated Profit and Loss Account

(EUR x 1.000) (unaudited)

slide14

Consolidated Balance Sheet

(before profit appropriation)

(EUR x 1.000) (unaudited)

slide15

Cash Flow Statement

(EUR x 1.000) (unaudited)

slide18

Future of Direct Mail 1/2

  • Direct mail remains a growth sector of marketing expenditure, leading to continued strong demand for direct mail print
  • Expenditure by advertisers on direct mail in Western Europe will increase by 18.9% between 2004 and 2009 to € 40 billion
  • Digital print for direct mail will be the fastest-growing process between 2004 and 2009 from € 5,6 billion up to € 16,8 billion
  • Advertisers will continue to increase their spend on direct mail (next sheet). The major threat to budgets comes from the rise of digital marketing, especially because of its low cost base and immediacy
  • The rise in use of digital print for direct mail will fuel increased demand for paper types that can be machined using this process
  • Uncoated woodfree will experience the strongest increase, followed by coated mechanical and woodfree grades
slide19

Future of Direct Mail 2/2

Source: Pira International Ltd.

slide21

StoraEnso HY-results

  • Net profit of EUR 267 mln (HY1/05: EUR 51 mln/due to strike)
  • Operating profit Fine Paper division EUR 99 mln (HY1/05: EUR 35 mln)
  • Sales volume Fine Paper (1.9 mln ton) +10% over last year
  • Strong recovery ROOC Fine Paper from 2.4% to 7.4% in 2006
  • Slight paper price increase in 2006 in WFU, stable in coated segment
slide22

UPM-Kymmene HY-results

  • Net profit decreased from EUR 227 mln HY1/05 to loss of EUR 4 mln in HY1/06
  • Non-recurring items EUR -148 mln (HY1/05: gain of EUR 101 mln)
  • Operating profit Fine and Speciality Papers EUR 14 mln (HY1/05: EUR 29 mln)
  • Sales volume 1,765 mln ton (HY1/05: 1,404 mln ton)
  • Selling prices -2% lower than same period of 2005
  • Operating profit excluding non-recurring items 3.9% / net sales (HY1/05: 2.8%)
slide23

M-Real HY-results

  • Net result of HY1/06 EUR -100 mln (HY1/05: EUR -45 mln)
  • Non-recurring items EUR -54 mln (HY1/05: EUR 66 mln)
  • Operating profit Office Paper division EUR -13 mln (HY1/05: EUR -5 mln)
  • Sales volume down by -5.6% to 517 kton (HY1/05: 538 kton)
  • Selling prices up by 2.3%
  • ROCE Office Paper division, excl. non-recurring -0.7% (HY1/05: 0.9%)
slide24

Outlook

  • StoraEnso Board: “Good market demand for fine paper is anticipated in the third quarter. The general price outlook is stable. Price increases have been announced in Europe for uncoated fine paper and in North-America for coated fine paper reels.”
  • UPM-Kymmene Board: “Demand for papers in second half of this year is predicted to continue to be good. Average paper prices are forecast to be somewhat higher than last year.”
slide25

Outlook

  • M-Real Board: “In third quarter the demand for the main products is expected to improve to some extend…..
  • M-Real has announced price increases for all its main paper grades and they will enter into force as of the beginning of September. Despite the result improving measures in progress, the year-end result before taxes will remain negative.”
slide26

ROCE Comparison

CVG and Peer Group

slide27

PM4 overhaul for label paper

production

PM8 overhaul: increase

release base

PM1/ - 95K tonnes

Stora Enso Oulo

Stora Enso Veitsuluoto

IP International paper (- 45.000 t WFU)

IP Svetogorsk

M-Real (- 120.000 t WFU / - 240 employees)

Stora Enso Varkaus

M-Real Husum

UPM Jamsankoski

M-Real Kangas

Stora Enso (-370.000 tonnes / - 2.500 employees)

UPM Tervasaari

M-Real Wifsta Warf

Ahlstrom

UPM (-700.000 tonnes / - 2.500 employees)

UPM Voikkaa

Sold to financial investor

UPM Kymi

SE Grycksbo

Mondi/Neusiedler (-200.000 tonnes)

Klippan

Sappi (need to savings of € 175 mio p/a / - 100 empl.)

Closed down / bankrupt

Mondi Syktyvhar

Possible mill and PM closures

overig

IP Taite

A. Wiggins

Closed down

Stora Enso Nymolla

Under review

IP Kwidzyn

SE Uetersen

UPM Nordland

CVG

Rebuild

Arctic Kostryn

M-Real UK Paper

Drewsen

SE BPF

Sappi Nash

Sappi Maastricht

Closed down

M-Real Zanders

Reorganisation (Stockstadt)

M-Real Alizey

M-Real PWA

Reorganisation

SE Corbehem

Mondi Ruzomberok

M-Real PSM

Kohler

IP Maresquel

Due to be closed down, however still ‘alive’

MondiYbbstal/Kematen

MondiSzolnok

PM3 / PM4 – 250K tonnes

Ziegler

Mondi Dunaujvaros

Closed down

Ahlstrom Sibille

Cham Tenero

Sold

Goricane

Pap. de Cran

IP Saillat

Pont de Claix

Tenero

Zicunaga

Receivership

Will be closed down

Start-up new 500K tpa

WFU PM planned 2H08

Soporcel

Sold to Trierenberg

slide28

Outlook

Nordea

Source: Nordea

slide29

Outlook

Deutsche Bank

slide30

Assumptions and outlook for 2006

  • Assumptions
  • Further cost pushes from raw materials not unlikely
  • Selling price increases from Q4 onwards
  • Further capacity reduction 2006/2007
  • Outlook
  • Production and sales volumes around 210,000 ton
  • Outlook net result 2006 yet uncertain