Heinzel Pulp and Paper Group
Transcription
Heinzel Pulp and Paper Group
WORLDWIDE GROWTH THROUGH TAILOR-MADE SOLUTIONS DELIVERED WITH SPEED GROUP INTERFACE Pulp, paper and board trading Pulp and paper production 86 markets approximately 2,100 employees 1 million tonnes of production Sales 2014 EUR 1.4 billion 3 trading units 3 industrial sites 3.2 million tonnes sales volume EBIT 2014 EUR 67 million Waste paper trading 2 GROUP INTERFACE INDUSTRY 3 TRADING & MERCHANT OWNERSHIP STRUCTURE 4 STRATEGIC STEPS 2014 First full year of operation of new “Starkraft” MG Kraft paper machine in Pöls; Investment in biogas refinery at AS Estonian Cell 2013 Acquisition of the Laakirchen paper mill as well as 51% of Bunzl & Biach GmbH from SCA; takeover of the sales of SCA Forest Products in Southern, Central and Eastern Europe, as well as overseas 2012 Europapier purchases the paper merchant business of PaperlinX in Hungary, Slovakia, Slovenia, Croatia and Serbia; disposal of the remaining shares in Biocel Paskov a.s. to Lenzing AG 2011 100 % takeover of AS Estonian Cell 2010 Sale of 75 % of the shareholding in Biocel Paskov a.s. to Lenzing AG; acquisition acquisition of Europapier AG 2006 Start-up of AS Estonian Cell 2004 33 % participation in the AS Estonian Cell greenfield BCTMP pulp mill investment 2001 Acquisition of Biocel Paskov a.s. 2000 Acquisition of Zellstoff Pöls AG 1991 With the help of banks and the management, Alfred H. Heinzel purchases purchased Wilfried Heinzel AG, todays heinzelsales, from his uncle Wilfried 5 THE HEINZEL TRACK VISION We aim to be the leading CEE market pulp and magazine paper producer and the worldwide all-in-one partner for pulp, paper and packaging sales. In CEE, Middle East, North Africa and India we are the key paper merchant. MISSION Worldwide growth with tailor-made solutions 6 CORE VALUES Responsibility Excellence Respect CORE VALUES RESPONSIBILITY - EXCELLENCE - RESPECT 7 Behave as an entrepreneur by sharing knowledge and information with your colleagues and by showing responsibility for your own and your team’s actions towards internal and external customers and partners; Do an excellent job by developing and learning from one another; as well as respect the experience, opinion, ideas and suggestions of your vis-à-vis in order to provide the best solutions to Heinzel Group. STRATEGY – HOW TO GET THERE? BUSINESS GOALS FINANCIAL GOALS 8 5y-average Operating CF/Sales > 15 % for Industry > 1,5 % for Trading ROACE > WACC Gearing ratio 60-80% +5% p.a. growth in volume by utilizing our facilities, our network and new business opportunities ORGANIZATIONAL GOALS Focus & simplification towards customers Speed to the market by one combined network Decentralized, lean, flat, and multifunctional STRATEGY – HOW TO GET THERE? PERSONNEL GOALS Living the core values Excellence by personnel development & organizational learning Flexibility challenge ENVIRONMENTAL GOALS 9 Continuous improvements based on documentation Investments based on best available technology Transparent environmental information to the public QUALITY GOALS Continuous measurements and official annual checks Communication with clients Investments in innovative high-quality technology STRATEGIC PERSONNEL DEVELOPMENT CONCEPT BUSINESS – FINANCIAL – ORGANIZATIONAL GOALS PERSONNEL – QUALITY – ENVIRONMENTAL GOALS Laakirchen Papier heinzelsales Leadership Development Program Zellstoff Pöls Estonian Cell Europapier Local Training Programs at heinzelsales – Europapier – Bunzl & Biach – Laakirchen Papier – Zellstoff Pöls – Estonian Cell Bunzl & Biach RESPONSIBILITY – EXCELLENCE – RESPECT E N T R E P R E N E U R S H I P 10 LEADERSHIP PROGRAM FOCUS of the LEADERSHIP PROGRAM The Program is strongly aligned to the entrepreneurial approach and the Core Values of Heinzel Group. The Program is based on the individual expectations of the shareholder and the future leadership requirements defined by the Board Members. FACTS of the LEADERSHIP PROGRAM Goal of the program is the development of a common leadership understanding among the core management team of Heinzel Group that will secure the group’s success in future. Participants are board members as well as first and second line management of Heinzel Group companies. CONTENT of the LEADERSHIP PROGRAM 11 Leading people in a difficult environment Leading change & conflict management Leadership & performance development OUR STRATEGIC DIRECTION INDUSTRY Laakirchen Papier AG Target: > 600 000 tons SC ROTO + HWSO Zellstoff Pöls AG Expansion program “Pöls 500” PM 2 MG paper machine 100 000 tons AS Estonian Cell Capacity extension to 200 000 tons Renewable energy capex for heat and electricity FOCUS ON OUR STRENGTHS TRADING & MERCHANT 12 heinzelsales Continuous expansion of sales network Target: > 3 million tons Europapier AG Number one paper merchant in CEE and CIS Target: > 1 million tons Bunzl & Biach GmbH Number one in recycled paper Target: > 700 000 tons Extension in Czech Republic, Slovakia, Slovenia, Hungary, Italy and Germany GROUP HIGHLIGHTS 2014 HEINZEL GROUP Turnover increased to EUR 1.4 billion Organic & Acquisition growth > 3,2 million tons Laakirchen Papier AG New product development “graphomagIQ”, “graphologIQ” Mill fitness program Zellstoff Pöls AG Successful market launch of Starkraft paper Recovery boiler II explosion at the end of I Quarter 2014 AS Estonian Cell Investment into a biogas plant Production record output 13 GROUP HIGHLIGHTS 2014 heinzelsales Volume record 2 million tons New Latin America approach Europapier AG Considerable volume and profit increase New product areas Visual Communication, Hygiene products, Consumables Bunzl & Biach GmbH 14 Cooperation with Europapier in CEE Record output GROUP SALES VOLUME 2014 tons Pulp Printing & Writing Publication Packaging & Board Other grades TOTAL 15 Goods sold Own production sold Traded goods sold 549.135 483.835 164.728 660.919 391.152 Direct Agency 674.833 474.468 626.875 502.733 384.079 268.697 9.367 83.333 215.581 7.072 943.530 483.835 710.208 718.314 391.152 394.395 2.662.989 584.051 3.247.039 997.269 545.479 57.395 2.249.770 STRONG FOOTPRINT EUROPAPIER + HEINZEL SALES + SCA FOREST PRODUCTS = CEE & CIS + ALL GRADES Worldwide Heinzel Group Offices Representative and Liaison offices: USA (New York) Canada (Vancouver) India (Chennai) Egypt (Cairo) China (Beijing, Guang Zhou) Australia (Victoria) Kenya (Nairobi) Korea (Seoul) Sudan (Khartoum) Argentina (Buenos Aires) Central America (Mexico) Ecuador (Quito) South Africa (Johannesburg) Other countries serviced via central sales staff. = Heinzel Sales office = Heinzel Sales liaison office = Heinzel production sites = Europapier = SCA Forest Products 16 GROUP PERFORMANCE 2014 according to IFRS 17 2014 2013 Net sales 1 000 Euro 1 406 502 1 329 133 EBITDA 1 000 Euro 117 870 108 260 EBITDA margin % 8.4 8.1 Depreciation 1 000 Euro 50 462 39 068 EBIT 1 000 Euro 67 407 69 192 Operating margin % 4.8 5.2 Industry % 7.3 3.9 Trading and Merchant % 2.1 1.7 Financial result 1 000 Euro -5 427 -7 976 Taxes 1 000 Euro -9 506 -4 242 Net income 1 000 Euro 52 474 56 975 GROUP BALANCE SHEET RATIOS according to IFRS 2013 ROE % 10.8 13.4 ROACE % 10.1 12.0 Shareholder’s equity MEUR 472.4 440.8 Equity ratio % 44.4 41.6 Net debt MEUR 100.6 149.3 Gearing ratio % 21.3 33.9 0.9 1.4 15.8 17.0 Net debt / EBITDA Working capital / net sales 18 2014 % GEARING RATIO 600 140% 120% 500 100% 400 80% EUR m 300 60% 200 40% 100 20% 0 1999 2000 2001 2002 2003 2004 Equity -100 19 2005 2006 Dividends 2007 Net Debt 2008 2009 2010 2011 2012 2013 2014 0% Gearing Ratio (right) -20% LAAKIRCHEN PAPIER AG Laakirchen Papier AG aims to be the most reputable European magazine paper producer with highest relative market share due to high product quality, a strong environmental profile and excellent customer relationships based on speed, flexibility and mutual trust. 20 FACTS & FIGURES LEADING MAGAZINE PAPER PRODUCER Location Laakirchen, Austria Activities SC Magazine Paper Main Markets Main Customers Publishers, Printers, Retailers, Catalogues Capacity 553 000 tons Turnover 272 MEUR Employees 21 92% Europe, 8% Overseas 526 PERFORMANCE DATA according to IFRS 2014 2013 Production tons 552 580 552 340 Tons sold tons 545 479 555 338 Net Sales 1 000 Euro 271 640 280 647 EBITDA 1 000 Euro 22 474 33 653 EBIT 1 000 Euro 5 545 15 397 Operating margin % 2.0 5.5 Employees number 526 527 New product development „graphologIQ“ & „graphomagIQ“ Mill fitness program 22 ZELLSTOFF PÖLS AG Zellstoff Pöls AG aims to be the biggest high-quality Northern Softwood Kraft Pulp producer in Southern Europe and in CEE as well as the biggest high-quality kraft paper producer in Central Europe, each with closest proximity to its customers. This guarantees prime quality, just-in-time delivery as well as first-class global, technical and environmental standards, all combined with a superior worldwide network. 23 FACTS & FIGURES PULP AND PAPER PRODUCTION Location Pöls, Austria Products Bleached softwood kraft pulp ORION Bleached kraft paper STARKRAFT Capacity 420 000 tons pulp (2014: 279 587 tons*) 80 000 MG paper (2014: 58 429 tons) Main markets Main customers Turnover Employees * Boiler explosion 24 Austria, Italy, Germany, France, Slovenia, Eastern Europe and Mediterranean countries Paper, bag and packaging industry 190 MEUR 380 PERFORMANCE DATA according to IFRS 2014 2013 Production tons 291 529 397 526 Tons sold tons 287 591 400 016 Net Sales 1 000 Euro 189 739 209 849 EBITDA 1 000 Euro 51 400 21 842 EBIT 1 000 Euro 30 370 7 545 Operating margin % 16.0 3.6 Employees number 380 366 Successful market launch of Starkraft paper Recovery boiler II explosion at the end I Quarter 2014 25 AS ESTONIAN CELL AS Estonian Cell aims to be the leading producer of environmentally-friendly highquality mechanical BCTMP pulp for European and Asian markets by using worldclass technology and delivery service. 26 FACTS & FIGURES PULP PRODUCTION Location Kunda, Estonia Products Aspen BCTMP Capacity 166 000 tons Start-up Main markets Main customers Employees 27 April 2006 Western Europe, India Fine paper, board, tissue producers 85 PERFORMANCE DATA according to IFRS 2013 Production tons 166 248 150 759 Tons sold tons 164 199 149 699 Net Sales 1 000 Euro 61 024 57 559 EBITDA 1 000 Euro 10 756 7 581 EBIT 1 000 Euro 2 080 - 1 127 Operating margin % 3.4 - 2.0 Employees number 85 85 Investment into a biogas plant Production record output 28 2014 HEINZELSALES Due to the unique combination of industrial know-how and worldwide market expertise, heinzelsales offers excellent individual service. In mature as well as emerging markets this bridge between production facilities and the customers makes it the preferred all-in-one partner in sales. 29 FACTS & FIGURES INTERNATIONAL SALES COMPETENCE Location Headquarter - Vienna, Austria 21 offices worldwide Activities Global marketing of pulp and paper Expert know-how in financing, logistics, currency management and special trades Main markets Main customers Total sales 30 Global – 86 markets on four continents Packaging and paper industry, printers, publishers, wholesalers, converters 1 997 218 tons Sales value 1 030 MEUR Employees 104 PERFORMANCE DATA according to IFRS 2013 Tons sold tons 1 997 218 1 698 036 Commission sales tons 1 059 378 853 475 Net Sales 1 000 Euro 453 659 423 537 EBITDA 1 000 Euro 9 763 10 000 EBIT 1 000 Euro 9 120 9 372 Operating margin % 2.0 2.2 Employees number 104 97 Volume record 2 million tons New Latin America approach 31 2014 EUROPAPIER INTERNATIONAL AG Europapier International AG strives to be the number one paper merchant for its customers and sets itself apart by providing tailored solutions for all of its clients’ paper and packaging needs. Europapier has its own branches in 13 countries and supplies over 2,000 customers per day from more than 50 warehouses. Focusing on Central & Eastern Europe as well as the CIS region, Europapier is furthermore looking to expand its business to neighbouring emerging markets. 32 FACTS & FIGURES INTERNATIONAL PAPER MERCHANT Location Headquarter - Vienna, Austria 13 subsidiaries, 1 partnership and 52 warehouses in CEE & CIS Activities Demand aggregator and stockist with access to logistics for fine distribution Main markets Main customers 33 27 countries in CEE & CIS Printing houses, packaging converters and office resellers & retailers Total sales 570 096 tons Employees 867 DISTRIBUTION NETWORK 34 Overall market of 496 million people Market leader in Austria and CEE 52 warehouses in CEE & CIS PERFORMANCE DATA according to IFRS 2014 2013 Tons sold tons 570 096 551 206 Sales value 1 000 Euro 497 639 507 655 Net Sales 1 000 Euro 484 077 474 864 EBITDA 1 000 Euro 10 187 6 676 EBIT 1 000 Euro 8 347 4 851 Operating margin % 1.7 1.0 Employees number 867 851 Considerable volume and profit increase New product areas Visual Communication, Hygiene products, Consumables 35 BUNZL & BIACH GMBH Bunzl & Biach including Austrian Recycling - the recycling paper merchant in Central & Eastern Europe - collects, sorts and sells waste paper and thus closes the recycling loop within the paper industry. 36 FACTS & FIGURES CEE RECYCLING PAPER COLLECTOR + TRADER Location Headquarter: Vienna, Austria Stocks 3 + (4 Papyrus) in Austria, 1 in Czech Repulic Activities Collection, sorting, pressing, transport and secure destruction Main markets Main customers 37 Austria, Czech Republic, Slovakia, Hungary, Slovenia, Germany, Italy Laakirchen Papier AG, SCA Ortmann, Mayr-Melnhof, Hamburger, etc. Total sales 667 610 tons Employees 138 PERFORMANCE DATA according to IFRS 2013 667 610 657 819 Tons sold tons Net sales 1 000 Euro 86 961 82 923 EBITDA 1 000 Euro 4 308 2 815 EBIT 1 000 Euro 3 088 1 550 Operating margin % 3.6 1.9 Employees number 138 140 Cooperation with Europapier in CEE Record output 38 2014 WORLDWIDE GROWTH THROUGH TAILOR-MADE SOLUTIONS DELIVERED WITH SPEED www.heinzel.com