nuplex industries limited nuplex industries limited results presentation for the year ended 30 june...
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NUPLEX INDUSTRIES LIMITEDRESULTS PRESENTATION FOR THE YEAR ENDED 30 JUNE 2012
17 AUGUST 2012
Emery Severin, Chief Executive OfficerIan Davis, Chief Financial Officer
PRESENTATION AGENDA
1. Group Overview
2. Financial Results
3. Segment Results
4. Strategy Update & Outlook
2
1. GROUP OVERVIEW
NUPLEX OVERVIEW
• 1,800 employees, 26 manufacturing sites in 11 countries
• Sales in over 80 countries
• Trusted supplier status achieved through consistently delivering to customers
– Innovative products that meet their challenges
– Post sales R&D support
– High quality, ‘on specification’ products
– Security of supply
– Cost competitive offering
• Leading positions
– ANZ: leading decorative and composite resins producer
– Asia: most extensive independent manufacturing network in the region
– EMEA: top 4 resins producer and leading solvent borne producer
– Americas: leading resins producer in niche high performance metal markets, such as vehicle refinish
• 2 years into 3 year strategy to strengthen Nuplex and position it for future growth through improving operational efficiency, consolidating leading market positions and expanding in emerging markets
Leading, trusted global resins manufacturer and agency & distribution business in ANZLeading, trusted global resins manufacturer and agency & distribution business in ANZ
4
1. Per million hours worked 2. Earnings before interest, tax, depreciation and amortisation 3. Net profit after tax attributable to equity holders of the parent company4. As defined by earnings before interest, tax and unusual items divided by average funds All figures are in NZD unless otherwise stated
FY12 FINANCIAL HIGHLIGHTS
5
SAFETY
Lost Time Injury Frequency Rate 2.51 up
Total Reportable Injury Rate 9.01 down
SALES REVENUE
$1, 615.9m up 3%
EBITDA2
$131.0m flat
NET PROFIT AFTER TAX3
Reported $62.5m down 6%
�
�
EARNINGS PER SHARE
31.8 cents down 7.0%
DIVIDEND PER SHARE
11 cents unchanged
RETURN ON FUNDS EMPLOYED4
13.0% down from 15.8%
WORKING CAPITAL TO SALES RATIO
16.5% up from 15.1%
�
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Constant currency NPAT inline with previous year
Constant currency NPAT inline with previous year
• Gearing increased to 28%, due to acquisitions of Viverso (€69.3m3) and Acquos’s masterbatch operations (A$20.9m3)
• Raised US$105m in US Private Placement market
FY12 RESULTS OVERVIEW
6
EBITDA inline with December ‘11 guidanceEBITDA inline with December ‘11 guidance
Resilient EBITDA from underlying operationsResilient EBITDA from underlying operations
Strong balance sheet Strong balance sheet
Dividend maintained Dividend maintained
1. Calculated by translating results into New Zealand dollars at the exchange rate applicable during the prior corresponding period2. German based resins manufacturer acquired from Bayer MaterialScience, acquired 31 December 20113. Final acquisition price paidAll figures are in NZD unless otherwise stated
• NPAT $62.5m, down 6% year on year (down 1% constant currency)
• Includes share of Fibrelogic losses of $3.7m
• $3.6m in unusual items largely due to Viverso acquisition costs
• Full year dividend maintained inline with prior year at 21 cents per share
• DRP reinstated
• 66% payout ratio inline with Board’s Dividend Policy
SOLID PERFORMANCE FROM UNDERLYING OPERATIONS IN CHALLENGING CONDITIONS SOLID PERFORMANCE FROM UNDERLYING OPERATIONS IN CHALLENGING CONDITIONS
• Sales up 2.6% due to contribution of acquisitions
• EBITDA $131.0m in line with prior year $130.9m (up 5% constant currency1)
– Includes six months of EBITDA from acquired Viverso2 operations
• EBITDA ex Viverso $120.6m, down 8% year on year (down 4% constant currency)
– Volumes down 5% year on year largely due to lower ANZ Resin segment volumes (down 12%)
– Mitigated by: (1) Increase in unit margins (2) NuLEAP benefits (3) Cost control (4) Existing EMEA operations EBITDA flat (up 8% constant currency), Americas up 11% (up 18% constant currency )
Resilient underlying EBITDA in challenging market conditions Resilient underlying EBITDA in challenging market conditions
1
Viverso
3 10
FY12 EBITDA
FY12FY11ResinsVolume
UnitMargin
Specialties Sales
Inflation@ 4%
NuLEAPCosts Non recurring
Masterbatch FX
130.9 131.0
Margin improvement, cost control, NuLEAP benefits and Viverso offset the impact of tough trading conditions and FX
Margin improvement, cost control, NuLEAP benefits and Viverso offset the impact of tough trading conditions and FX
7`
$M
(26) 145 (6)(14)(5)18
Other
ANZ
All figures are in NZD unless otherwise stated
• Resins segment
‒ Constant currency unit margins up 6% as recovered past period raw material costs
‒ Excluding Viverso, fixed costs up 1.2% on constant currency basis, up less than inflation
FY12 OPERATIONAL HIGHLIGHTS
8
Disciplined cost control and margin management
Disciplined cost control and margin management
NuLEAP deliveringNuLEAP delivering
Viverso integration on track, EBITDA ahead of forecast
Viverso integration on track, EBITDA ahead of forecast
Growing in emerging markets Growing in emerging markets
ANZ review underwayANZ review underway
All figures are in NZD unless otherwise stated
• Strengthened Nuplex EMEA – now a top 4 resins producer and the leading solvent borne resins producer
• Final acquisition price paid €69.3m, total acquisition cost €75m
• €6.3m EBITDA contribution ahead of forecast €5m
• Integration on track
• Review objective: Align ANZ operations to the variety of through the cycle demand conditions
• Update expected during December 2012 quarter
• Asia: progressed plan to increase regional capacity by 50% by end FY14
‒ Vietnam: Commissioned new capacity to underpin market leading position in decorative resin
‒ China: Permitting for Changshu site continued. Construction expected towards end 2012
• Russia: Progressing low risk entry via agreement with local company to form a JV
SOLID PERFORMANCE FROM UNDERLYING OPERATIONS IN CHALLENGING CONDITIONS SOLID PERFORMANCE FROM UNDERLYING OPERATIONS IN CHALLENGING CONDITIONS
• $14m incremental benefits ahead of $10m target contributing to
‒ Better gross margins through procurement
‒ Benefits of sales initiatives
‒ Costs contained
Focused on cost control, margin management and executing our strategy to strengthen and grow NuplexFocused on cost control, margin management and executing our strategy to strengthen and grow Nuplex
GEOGRAPHIC AND PRODUCT DIVERSITY
1. Includes 6 months of Viverso2. Includes ANZ based Pulp and Paper and Construction Products 3. Includes 9 months of Aquos’ masterbatch operations
9
FY12 SALES BY SEGMENT AND BUSINESS
FY12 SALES BY REGION FY12 EBITDA BY REGION
CoatingResins1
66%
Specialties15%
Masterbatch4%3
Other 4%2
New Zealand
10%
Americas9%
Australia 34%
Asia16%
New Zealand
5%Americas
12%
Australia 25%
Asia21%
Europe, Middle East and Africa
31%
Europe, Middle East and Africa
37%
� Total Reportable Injury Rate (TRIR)
– 30% improvement , declined to 9 per million hours worked
– Americas had no Reportable Injuries
� Lost Time Injury Frequency Rate (LTIFR)
– Increased to 2.5 per million hours worked
– No Lost Time Injuries
• At 21 of 26 sites
• In Asia or US
• Progress in building ‘Zero Harm’ culture
– Additional SHE headcount
– DuPont® Safety Management Systems for Leadership Training
– Safety observation program introduced
– More comprehensive Personal Protective Equipment Policy introduced
9
0
5
10
15
20
25
30
FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12
2.5
0
2
4
6
8
10
12
14
FY04 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12
LOST TIME INJURY FREQUENCY RATE PER MILLION HOURS WORKED
TOTAL REPORTABLE INJURY FREQUENCY RATE PER MILLION HOURS WORKED
SAFETY
10
2. FINANCIAL RESULTS
FINANCIAL HIGHLIGHTS
12
$M FY12 FY11 CHANGE %
Sales 1,615.9 1,575.0 2.6
EBITDA 131.0 130.9 flat
Depreciation & amortisation (27.8) (22.4) 24.1
EBIT 103.2 108.5 (4.9)
Interest (14.0) (16.6) (15.7)
Tax on operating profits (19.3) (23.2) (16.8)
Unusual items after tax (3.6) (1.4) 157.1
Share of associates (1.8) 1.9 (194.7)
Minority interests (2.0) (2.7) (25.9)
NPAT attributable to equity holders of parent company
62.5 66.5 (6.0)
All figures are in NZD unless otherwise stated
• Working capital to sales ratio
– 16.5% includes 12 months of Viversoworking capital, 6 months of sales
– 15.8% excluding Viverso
– Inline with target range of 15 to 17%
• Invested during FY12
– Acquisition expenditure $130.5m
– Stay in business capex $19.2m
� 84% of depreciation
– Organic growth capex $12.3m
� Vietnam expansion $6.1m
� China new site $2.4m
‒ Depreciation $22.8m
WORKING CAPITAL & CAPITAL EXPENDITURE
All figures are in NZD unless otherwise stated
WORKING CAPITAL AS A PERCENTAGE OF
12 MONTH ROLLING SALES
13
16.5%
15.8%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
Jun 08 Jun 09 Jun 10 Jun 11 Jun 12includingViverso
Jun 12existing
operations
Target range 15 to 17%
14
FUNDING & GEARING
All figures are in NZD unless otherwise stated
NET DEBT TO NET DEBT PLUS EQUITY RATIO• $220m net debt as at 30 June 2012, up from $74m
– Increase due to acquisition of Viverso and Acquosmasterbatch operations
• Lowered funding costs via renegotiation of bank facilities in August 2011
– Total facilities reduced to A$200m from A$300m
– Average cost in FY12 approximately 7%, down from 12% in FY11
• Successfully raised US$105m in the US Private Placement market for the first time
– 7 year term, mature 2019
– Coupon rate 6.125%
– Settled 31 July 2012
• NZ$52.6m Capital Notes to be redeemed September 2012
28%
0%
10%
20%
30%
40%
50%
Jun 08 Jun 09 Jun 10 Jun 11 Jun 12
Target range
20 to 35%
3. SEGMENT RESULTS
1. As measured by sales minus (raw material costs + inwards freight costs) divided by tonnage 2. Costs associated with Composites $3m restructuring charge in FY11
• Unit margins1 up 6% (constant currency) due to margin management
• Margin management, NuLEAP and cost control mitigated impact of lower volumes
RESINS – COST AND MARGIN MANAGEMENT
RESINS EBITDA TO SALES MARGIN (EX VIVERSO)
Compression from constant dollar margin
on higher sales
(0.4)%
Raw material cost recovery
0.7%
FY12FY11
8.4% 8.5%Non
recurring costs2
SG&A costs
(0.1)% 0.2%
1.0%
NuLEAP
Operating costs
(0.1)%Volume
(1.2)%
16
SPECIALTIES
RESINS
4.9%
0%
5%
10%
FY08 FY09 FY10 FY11 FY12
RESINS – AUSTRALASIA
• Volumes down 12.0%
• A$ EBITDA down 23.3%
– Australian and New Zealand construction sectors at cyclical lows
� Approx. 50% of ANZ Resins end-use exposure
� Conditions deteriorated during the year
– Australian manufacturing and infrastructure activity subdued reflecting ongoing structural shift
� Approx. 50% of ANZ Resins end-use exposure
COATING RESINS
• Pricing actions taken to recover raw material costs
• Market share maintained
• Reduced demand from residential and commercial construction and home renovation market
COMPOSITES
• Ongoing weakness in marine & leisure, infrastructure and transport sectors impacted volumes
• Business restructured
– Realised A$3.6m in annualised cost savings
ANZ SALES (A$)
17
ANZ EBITDA (A$)
A$M
A$M
ANZ EBITDA MARGIN
SPECIALTIES
RESINS
• Volumes up 4.2% due to Viverso Asian volumes
– Underlying volumes flat year on year
• US$ EBITDA, down 0.4%
– Includes US$1m internal re-allocation R&D charge
CHINA
• Volumes flat
• Suzhou: Reduced demand from automotive OEM
• Foshan: Increased sales due to focused sales initiatives
SOUTH EAST ASIA
• Vietnam: Capacity constrained until new plant commissioned May 2012. Additional capacity expected
– FY13 EBITDA contribution to be between US$0.5 to US$1m
– To be filled within 4 years
• Malaysia and Indonesia: Domestic demand held
10.4%
0%
10%
20%
FY08 FY09 FY10 FY11 FY12
RESINS – ASIA
18
ASIAN SALES (US$)
ASIAN EBITDA (US$)
US$M
US$M
ASIAN EBITDA MARGIN
SPECIALTIES
RESINS
Existing operations
RESINS – EUROPE
19
9.5%
0%
6%
12%
FY08 FY09 FY10 FY11 FY12
EMEA SALES (€)
EMEA EBITDA (€)
• Volumes up 21.9% including Viverso
– Excluding Viverso down 5.1%
• EURO EBITDA up 24.3% including Viverso
– Excluding Viverso EURO EBITDA up 8.0%
• Steady demand from Northern European customers
• Weaker demand from
– Southern European customers
– Middle East and Asia
• In its first 6 months, Nuplex Germany (integrated Viverso operations) delivered
– Margins inline with expectations
– Volumes inline with expectations, except for construction related products which were weaker
– Costs below expectations due to lower integration expenses
€M
€M
EMEA EBITDA MARGIN (EX VIVERSO)
Viverso
SPECIALTIES
RESINS
RESINS – AMERICAS
SPECIALTIES
• Volumes down 2.3%
• US$ EBITDA up 18.2%
• Stronger second half volumes due to growth in automotive and manufacturing sectors
• Improved product mix and tight cost control
20
10.9%
0%
6%
12%
FY08 FY09 FY10 FY11 FY12
AMERICAS EBITDA (US$)
US$M
US$M
AMERICAS EBITDA MARGIN
AMERICAS SALES (US$)
RESINS
AGENCY & DISTRIBUTION
• Sales
− New Zealand down 4.0%
− Australia down 12.1%
• Tough manufacturing and construction conditions in Australia reduced demand for
− Plastics
− Coatings
− Surfactants
• Steady demand from
− Food and Nutrition
− Healthcare
− Pharmaceuticals
• Formation of Nuplex Specialties complete
− 6 brands integrated into 1 brand
− Focused sector sales groups
− Making it easier for principals and customers to work with Nuplex
SPECIALTIES
21
MASTERBATCH
• Sales slower than expected due to weaker Australian trading conditions
• Acquired Acquos’s masterbatch operations
‒ Final price paid was $20.9m
‒ FY12 EBITDA contribution approximately A$1m
• Nuplex Masterbatch restructuring to be completed Q1 FY13
‒ Continued focus on cost base optimization and margin management
• In FY13, EBITDA from the combined business expected to be A$5m
SPECIALTIES
RESINS
4. STRATEGY UPDATE & OUTLOOK
23
• Consider acquisitions that− Strengthen
leading market & technology positions
− Leverage capabilities
− Meet disciplined criteria
OUR STRATEGYTo deliver sustainable growth and high quality products for our customers through pursuing operational
excellence and building market leading positions
SUSTAINABLE GROWTH STRATEGY
Safety People NuLEAPEmerging markets
R&DStrategic
acquisitions
• Build a culture of ‘Zero Harm’
• Engage and leverage One Global Team
• Improve the way we work through rigorous improvement programs
• Profitably expand capacity and presence in emerging markets
• Grow market share through innovative products
• Pursue market development opportunities
• Leverage technologies across global platform
OUR AMBITION
To be the leading, trusted resins manufacturer globally and leading agency & distribution business in ANZ
Building market leading positions to grow earningsPursuing operational excellence to improve margins
24
June
2012
Jan ‘11 New strategy
implemented
Jan ‘11 New strategy
implemented ON TRACK TO DELIVER• NULEAP program target - $30m• At least €12m EBITDA from Viverso• $A5m EBITDA from Nuplex Masterbatch• US$0.5m to US$1m EBITDA
ON TRACK TO DELIVER• NULEAP program target - $30m• At least €12m EBITDA from Viverso• $A5m EBITDA from Nuplex Masterbatch• US$0.5m to US$1m EBITDA
January
2011
June
2013
January
2013
June
2011
January
2012
VIETNAM: Commenced
capacity expansion
project
VIETNAM: Commenced
capacity expansion
project VIETNAM:
Commissioned new plant on time & on
budget
VIETNAM: Commissioned new plant on time & on
budget
CHINA, Changshu:
Secured land for new 3rd site
CHINA, Changshu:
Secured land for new 3rd site
CHINA, Changshu:
Construction expected to commence
CHINA, Changshu:
Construction expected to commence
Emerging market growth
Financial targets
Strategic acquisitions
Viversoacquired
and integration
started
Viversoacquired
and integration
started
Acquos masterbatch operations acquired, integration into Nuplex Masterbatch started Acquos masterbatch operations acquired,
integration into Nuplex Masterbatch started
DELIVERING ON OUR STRATEGY
NuLEAPdelivered
$3m benefits
NuLEAPdelivered
$3m benefits
NuLEAPdelivered
$14m benefits
NuLEAPdelivered
$14m benefits
NuLEAP
June
2010
Dec ‘10 Strategic review
completed
Dec ‘10 Strategic review
completed
25
June 2012
$10m in incremental benefits
TARGETS
NULEAP – ON TRACK TO DELIVER $30m TOTAL BENEFITS
DeliveredDelivered
Lay the foundations for
continuous improvement
culture
Lay the foundations for
continuous improvement
culture
Exceeded target -delivered $14m in
incremental benefits
Exceeded target -delivered $14m in
incremental benefits
On track to reach program target
On track to reach program target
June 2011
$3m in ‘Quick Wins’
June 2013
Program target $30m
Ongoing - review of Australian and New Zealand operations
Ongoing - review of Australian and New Zealand operations
26
ASIA • Two years into expansion
program to increase regional capacity by 50% by end FY14
CHINA • Construction expected to
commence by end 2012
VIETNAM• Vietnam capacity
commissioned May 2012
INDIA• Full time sales
representative employed in early 2012
ASIA • Two years into expansion
program to increase regional capacity by 50% by end FY14
CHINA • Construction expected to
commence by end 2012
VIETNAM• Vietnam capacity
commissioned May 2012
INDIA• Full time sales
representative employed in early 2012
RUSSIA• Agreement to form a JV
• Local partner, Kvil Group
• Will make a €2.5m initial investment
• Working towards starting construction of greenfield site in 2014
RUSSIA• Agreement to form a JV
• Local partner, Kvil Group
• Will make a €2.5m initial investment
• Working towards starting construction of greenfield site in 2014
GROWING IN EMERGING MARKETS
Customer value proposition underpins Nuplex’s ability to successfully grow in emerging markets Customer value proposition underpins Nuplex’s ability to successfully grow in emerging markets
Cost Competitive Consistent Quality Security of Supply Innovative products and R&D support
Ongoing delivery of our customer value proposition is why • Multi nationals support Nuplex to expand into emerging markets alongside them • Local producers choose Nuplex products
Cost Competitive Consistent Quality Security of Supply Innovative products and R&D support
Ongoing delivery of our customer value proposition is why • Multi nationals support Nuplex to expand into emerging markets alongside them • Local producers choose Nuplex products
Belgorod
Changshu
Mumbai Ho Chi Minh City
MARKET DEVELOPMENT and INNOVATIVE R&D
• R&D is a core component of our customer value proposition via
– Innovative new products and customised solutions
– Post sales technical support
• July 2011, as part of management restructure created overlay teams to drive global R&D in 4 key product areas1
• June 2012, each overlay team
– Has identified and prioritised global R&D and market development projects
– Is working towards commercialisation
• Approximately 25% of R&D budget now spent on globally focused projects
• Innovative R&D commercialised in FY12 include
– SETAQUA® ECO 5000
A waterborne binder used in enamel trim paint with similar performance qualities as the traditionally higher performing solventborne alternatives
– SETALUX 17 – 2319
A Vehicle Refinish top coat that does not need a primer layer
We are building a global and product focused approach to R&D We are building a global and product focused approach to R&D
271. Performance, waterborne and powder coatings and composite resins
PRIORITIES and OUTLOOK
28
PRIORITIES
• Improve safety performance
• Execute NuLEAP
– Lay foundations for NuLEAP II
– Announce ANZ Operational Review
• Complete integration of Nuplex Germany into existing European network
– Leverage its technology portfolio into Asia, ANZ and Asia
• Progress emerging market projects
– Commence construction at Changshu
– Form Russian JV
• Continue investing in market development and R&D
– Leverage benefits from global R&D overlay teams
– Build R&D Applications Centre in China
OUTLOOK
• Markets remain challenging
• Assuming continuation of current market conditions, FY13 EBITDA to benefit from
– Full 12 months of Viverso (expected contribution at least €12m) and Nuplex Masterbatch (expected contribution A$5m)
– Volume growth in Vietnam capacity (US$0.5 to $1m)
– Additional NuLEAP benefits
All figures are in NZD unless otherwise stated
FOR FURTHER DETAILS:
EMERY SEVERIN
Chief Executive Officer� +61 2 9666 0300� [email protected]
JOSIE ASHTON
Investor Relations� +61 2 9666 0342 or � +61 416 205 234� [email protected]
30
SEGMENTS
NZ$ millionFY12
ACTUAL FX
FY12CONSTANT
FX
FY11ACTUAL
FX
% CHANGE
ACTUAL FX
CONSTANT FX
RESINS
Sales Existing operations 1,193.5 1,249.2 1,272.8 (6.2) 1.9
Viverso 117.3 126.8 - - -
TOTAL 1,310.8 1,376.0 1,272.8 3.0 8.1
EBITDA Existing operations 100.9 106.4 107.5 (6.1) (1.0)
Viverso 9.4* 10.2 - - -
TOTAL 110.3 116.6 107.5 (2.6) 8.5
SPECIALTIES
Sales 305.1 308.4 302.2 1.0 2.1
EBITDA 20.7 20.9 23.4 (11.5) (10.7)
*Excludes additional NZ$1 million EBITDA contribution embedded in other regions
31
RESINS SALES & EBITDA IN NZD
NZ$ millionFY12 FY11 % CHANGE
ACTUAL FX CONSTANT FX ACTUAL FX ACTUAL FX CONSTANT FX
SALES
Australasia 402.7 407.6 462.3 (12.9) (11.8)
Asia 255.8 267.1 256.3 (0.2) 4.2
Europe – existing 387.2 417.4 411.2 (5.8) 1.5
– Viverso 117.3 126.8 - - -
Americas 147.8 157.1 143.0 3.3 9.9
TOTAL RESINS SALES
1,310.8 1,376.0 1,272.8 3.0 8.1
EBITDA
Australasia 19.7 19.9 26.0 (24.5) (23.4)
Asia 26.6 27.8 28.4 (6.3) (2.1)
Europe – existing 38.6 41.7 38.7 (0.1) 7.8
– Viverso 9.4* 10.2 - - -
Americas 16.0 16.9 14.4 11.1 17.4
TOTAL RESINS EBITDA
110.3 116.5 107.5 2.7 8.5
*Excludes additional NZ$1 million EBITDA contribution embedded in other regions
32
RESINS SALES AND EBITDA BY LOCAL CURRENCY
FY12
(LOCAL CURRENCY)
FY11
(LOCAL CURRENCY)% CHANGE
SALES
Australasia (A$ M) 313.8 354.8 (11.6)
Asia ($US M) 205.5 193.8 6.0
Europe (€ M) – existing 232.5 228.5 1.8
– Viverso 70.4 - -
US ($US M) 118.7 108.2 9.8
EBITDA
Australasia (A$ M) 15.3 20.0 (23.3)
Asia ($US M) 21.4 21.5 (0.4)
Europe (€ M) – existing 23.2 21.5 8.0
– Viverso 6.3* - -
US ($US M) 12.9 10.9 18.2
*Excludes additional €0.6 million EBITDA contribution embedded in other regions
33
FOREIGN EXCHANGE
AVERAGE EXCHANGE RATE FY12 FY11 % CHANGE
NZD: AUD 0.7791 0.7676 1.5%
NZD: EUR 0.6006 0.5557 8.1%
NZD: USD 0.8034 0.7562 6.2%
NEW ZEALAND DOLLAR VS AUD, EURO AND USD
$0.00
$0.20
$0.40
$0.60
$0.80
$1.00
Jul-09 Jan-10 Jul-10 Jan-11 Jul-11 Jan-12
NZD/AUD
NZD/EUR
NZD/USD
0
10
20
30
40
50
60
70
0
30
60
90
120
150
10 year summary
All figures are in NZD unless otherwise stated
SALES ($M) EBITDA ($M)
NET PROFIT TO SHAREHOLDERS ($M)
-
200
400
600
800
1,000
1,200
1,400
1,600
1,800
35
DISCLAIMER
This presentation has been prepared by Nuplex Industries Limited. The material that follows contains general background information about Nuplex’s activities as at the date of the presentation 17 August, 2012.
The information in this presentation is not an offer or recommendation to purchase or subscribe for securities in Nuplex or to retain any securities currently held. It does not take into account the potential and current individual investment objectives or the financial situation of investors.
Actual results may vary materially either positively or negatively from any forecasts in this presentation. Before making or disposing of any investment in Nuplex securities, investors should consider the appropriateness of that investment in light of their individual investment objectives and financial situation, and seek their own professional advice.
All currencies are in NZD unless stated otherwise.