Q3 2012 Presentation October 26, 2012 Sales increase but decreased - - PowerPoint PPT Presentation

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Q3 2012 Presentation October 26, 2012 Sales increase but decreased - - PowerPoint PPT Presentation

Jan 28, 2023 332 likes •492 views

Q3 2012 Presentation October 26, 2012 Sales increase but decreased profit and negative cash flow Net sales increased to SEK 261.7 million (252.8) Decrease of 2.7% in local currencies Operating result decreased to SEK 27.9

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SLIDE 1

Q3 2012 Presentation

October 26, 2012

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SLIDE 2

Q3 Report 2012 2

Sales increase but decreased profit and negative cash flow

  • Net sales increased to SEK 261.7 million (252.8)

– Decrease of 2.7% in local currencies

  • Operating result decreased to SEK –27.9 million (–10.1 )

– Non-recurring items in the USA, SEK -18.3 million

  • Cash flow after investments amounted to SEK –123.2 million (16.0)

– Including payments for final disposal of waste in the USA SEK 93.8 million

  • Net debt decreased to SEK 141.7 million (157.3)
  • CEO Anders Jackson will leave the company at a time to be

decided later

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SLIDE 3

Key Figures and Ratios

Q3-12 Q3-11 2011 2010 Net sales for the Group, SEKm 261.7 252.8 1,200.7 1,344.1 Operating profit, SEKm Of which non-recurring items, SEKm –27.9

–18.3

–10.1 53.6 33.4 Net profit, SEKm –27.9 –14.8 22.7 4.0 Earnings per share, SEK –3.39 –1.80 2.77 0.49 Cash flow from operations, SEKm –112.7 27.2 151.1 107.5 Operating margin, % neg 0.1 4.5 2.5 Equity-assets ratio, % 35.7 37.2 37.7 36.5 Average number of employees 1,107 1,137 1,153 1,169

Q3 Report 2012 3

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SLIDE 4

4

Sweden – Q3

Waste Treatment for European Customers

  • Capacity utilization high in

incineration facility

  • Low utilization of metal facility

– Delayed deliveries

  • Large component product line

well utilized

– High dose rate in heat exchangers resulted in increased costs

  • Strong order books create potential

for high capacity utilization in Q4

Q3 Report 2012

  • 10
  • 5

5 10 15 20 10 20 30 40 50 60 70

Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12

Sales and operating profit

Current focus: Improve productivity and co-operation with other business segments

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SLIDE 5
  • 10
  • 5

5 10 15 20 10 20 30 40 50 60 70

Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12

Sales and operating profit

United Kingdom – Q3

Waste Treatment, Decommissioning and Engineering & Services

  • Increasing sales and profitability

– Production continued to be high in MRF – Consulting operations well utilized

  • Sound order book in all operations

provides scope for high capacity utilization in Q4

5 Q3 Report 2012

Current focus: Continue building order book for MRF and grow consulting operations

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SLIDE 6
  • 4
  • 2

2 4 6 8 10 12 14 20 40 60 80 100 120 140

Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12

Sales and operating profit

6

Germany – Q3

Decommissioning and Engineering & Services

  • High capacity utilization and

positive result

– Continued imbalance between demand and available resources in the German market – Price pressure

  • Organization gradually adapted to

the market situation

  • French operations not profitable
  • Measures taken to right-size
  • Studsvik and Westinghouse will

jointly offer turn-key decommissioning services Current focus: Adapt business model to new situation

Q3 Report 2012

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SLIDE 7

USA – Q3

Waste Treatment

  • Erwin

– Decreased sales – Agreement with WCS eliminated considerable risk and uncertainty

  • Low volumes in Memphis

– Flat market – Decreased sales

  • Consulting operations

– God prospects but moving slowly

  • Non-recurring items in Q3

MSEK -18.3

  • Potential for improved capacity

utilization in Q4

7 Q3 Report 2012

  • 30
  • 20
  • 10

10 20 30 40 10 20 30 40 50 60 70 80 90 100

Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12

Sales and operating profit

Current focus: Secure waste shipments into Erwin and Memphis and continue improving efficiency

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SLIDE 8

Global Services – Q3

Materials Technology and In-core fuel management software

  • Positive trend in Software
  • perations continued

– Sales and earnings increased

  • Materials technology

gradually recovering

  • High utilization in Consulting
  • perations
  • Sound order book will make

high capacity utilization in Q4

8

Current focus: Capitalize on strong order book

Q3 Report 2012

5 10 15 20 25 30 10 20 30 40 50 60 70 80 90 100

Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10 Q1-11 Q2-11 Q3-11 Q4-11 Q1-12 Q2-12 Q3-12

Sales and operating profit

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SLIDE 9

SEKm Q3 -12 Q3 -11 2011 2010 Sweden

32.7 27.5

167.3 179.9 United Kingdom

46.7 27.5

107.8 80.5 Germany

80.8 94.9

365.3 461.5 USA

44.8 43.1

242.6 272.0 Global Services

62.3 54.2

287.9 296.7 Other

10.2

9.9 47.0 67.7 Group eliminations

  • 15.8
  • 4.3
  • 17.2
  • 14.2

GROUP

261.7 252.8

1,200.7 1,344.1

Net sales

9 Q3 Report 2012 9

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SLIDE 10

SEKm Q3 -12 Q3 -11 2011 2010 Sweden

  • 6.3
  • 4.1

19.8 19.9 United Kingdom 0.0

  • 3.4
  • 9.7
  • 24.2

Germany 2.0 8.2 18.4 28.8 USA

Of which non-recurring items

  • 23.3
  • 18.3
  • 11.2

22.6 1.4 Global Services 5.7 6.5 33.7 33.1 Other

  • 6.0
  • 6.1
  • 31.2
  • 25.6

Group eliminations

  • GROUP

GROUP Less non-recurring items

  • 27.9
  • 9.6
  • 10.1
  • 10.1

53.6 53.6 33.4 33.4

Operating profit

10 Q3 Report 2012 10

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SLIDE 11

Balance sheet Group, September 2012

11

Q3 Report 2012

Sept OB Intangible assets 328 898 350 715 Tangible assets 465 566 481 065 Other non-current assets 122 001 169 176 Current assets 289 950 332 917 Cash & Bank 99 160 122 092 Total assets 1 305 574 1 455 965 Equity 465 958 548 778 Provisions 222 290 291 511 Interest bearing debts 240 883 217 675 Other non-current liabilities 40 314 39 045 Current liabilities 336 130 358 956 Total liabilities & Equity 1 305 574 1 455 965

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SLIDE 12

12

  • Demand for electricity is increasing globally
  • Modernization and upgrading programs are under way in several countries
  • In parallel, new nuclear capacity is being planned and built
  • German service & maintenance market will stabilize on a lower level
  • German plants will be decommissioned but timing not yet clear
  • Decommissioning of nuclear facilities in other markets is expected to expand

substantially in the long-term

Outlook

Q3 Report 2012

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SLIDE 13

13

Summing up Q3 2012

Q3 Report 2012

  • Net sales increased to SEK 261.7 million (252.8)

– Decrease of 2.7% in local currencies

  • Operating result decreased to SEK –27.9 million (–10.1 )

– Non-recurring items in the USA, SEK -18.3 million

  • Cash flow after investments amounted to SEK –123.2 million (16.0)

– Including payments for final disposal of waste in the USA SEK 93.8 million

  • Net debt decreased to SEK 141.7 million (157.3)
  • CEO Anders Jackson will leave the company at a time to be

decided later

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SLIDE 14

Q3 Report 2012

14

Q3 report 2009