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Q3 2013 EARNINGS CALL – Lupatech S.A

Lupatech S.A · Nov 21, 2013 · 20 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 1
    3Q13 Results Restructuring Plan So Paulo, November 21st, 2013
  2. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 2
    Disclaimer Forward Looking Statements This document may contain prospective statements which are subject to risks and uncertainties as they were based on expectations of the Companys management and on available information. These…
  3. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 3
    Overview Lupatech: one of the largest Brazilian supplier of products and services for the oil and gas sector Products: Services: Oil & Gas Valves Drilling e Workover Industrial Valves Well Services Anchoring Ropes Tubular Services…
  4. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 4
    Agenda 1 3Q13 Performance Backlog Net Revenues by Division COGS and Gross Profit Expenses Financial Result Adjusted EBITDA Net Result Cash and Working Capital Capex Debt Efficiency Improvement and Rationalization of 2…
  5. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 5
    1 3Q13 Performance: Backlog Backlog (R thd) Backlog by Segment 1,859 1,595 -7% 1,427 1,340 14% 1,244 1,256 698 670 733 3Q13 801 R 1.2 bi 897 757 603 607 86% 443 3Q12 4Q12 1Q13 2Q13 3Q13 Products…
  6. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 6
    1 3Q13 Performance: Net Revenue by Division 3Q13 2Q13 Chg. % 3Q12 2Q12 Chg. % Products 66,585 62,533 6.5% 87,840 86,059 -24.2% Products: +6.5% Oil&Gas Valves 34,598 31,690 9.2% 47,817 44,880 -27.6% Oil & Gas: +9.2% Industrial Valves…
  7. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 7
    1 3Q13 Performance: COGS and Gross Profit Costs with dismissals and terminations in 3Q13: R9.0 million COGS (R thd) Gross Profit and Gross Margin (R thd) +0.3% 40.000 40.000 25% 25% 40.000 25% 116,558 116,198 21% 21% 21%…
  8. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 8
    1 3Q13 Performance: Expenses Decrease of R2.5 million in SG&A expenses Administrative Expenses: Other Expenses: Products -10.5% Sale of Fixed Assets; Services -13.0% Obsolete inventory; Idle Capacity Costs. SG&A (R thd) Other…
  9. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 9
    1 3Q13 Performance: Financial Result Financial Result: R28.4 million decrease in losses Financial Revenue* Financial Expense* Net Exchange Variance 12,711 1,387 -10,796 2Q13 3Q13 -40,131 -39,410 -49,841 USD/BRL +10%…
  10. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 10
    1 3Q13 Performance: Adjusted EBITDA and Net Result 3Q13 Adjusted Ebitda Reconciliation (R thd.) Products Services Total Gross Profit 20,646 2,130 22,776 SG&A -15,485 -16,647 -32,132 Management Compensation -656 -722 -1,378…
  11. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 11
    1 3Q13 Performance: Working Capital Working Capital (R thd) Working Capital (R thd) 3Q13 2Q13 Chg % Nom. Chg. Accounts Receivable 142,022 160,545 -11.5% -18,523 -7% Inventories 154,735 158,470 -2.4% -3,735 205,172 189,986 Accounts…
  12. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 12
    1 3Q13 Performance: Cash and Cash Equivalents Cash and Cash Equivalents (R thd) Cash Position Breakdown (R million) 16% 25,530 21,925 1,642 6% 1.6 1,488 1.6 7% 7.2 7.2 R25.5 R25.5 million 23,888 94% million 20,437 93%…
  13. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 13
    1 3Q13 Performance: Capex Capex 3Q13: R3.6 million: Capex 9M13: R19.9 million: Services: R2.5 million Services: R15.3 million Products: R1.1 million Products: R4.6 million 23% 30% Capex 3Q13 Capex 9M13 R3.6 million R19.9…
  14. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 14
    1 3Q13 Performance: Debt Debt (R thd) 3Q13 2Q13 Chg. % Nom. Chg. Short Term 1,367,775 1,332,936 2.6% 34,839 Bonds and Debentures: provision for Financing Lines 306,644 300,279 2.1% 6,365 interest and foreign exchange effect;…
  15. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 15
    2 Efficiency Improvement and Rationalization of Expenses Divestment from non-core activities. Implementation of operation efficiency programs and rationalization of expenses and available funds. Steelinject; Work-out process in the…
  16. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 16
    3 Proposal for Debt Restructuring Perpetual Bonds: Plan Conditions: Issued Value: US275 million (interest rate 9.875%) 85% converted in equity (R0.25 per share); Unpaid Interest: Apr/13, Jul/13, Oct/13 15% swapped for new notes:…
  17. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 17
    3 New Debt: Assumptions Assumption I Assumption II No Financial Institutions Financial Institutions Conversion Conversion Conversion / Conversion / (R thd) 3Q13 Total Debt Total Debt New Debt New Debt Financial Institutions…
  18. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 18
    3 Debt Restructuring Plan: Timeline Filing in the Homologation Hearing US to obtain Brazilian & US Base date to fix of the Plan by court order enforcing courts value of credits Brazilian courts the Plan in the US D+41 D+111…
  19. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 19
    5 Q&A Q&A 19
  20. Q3 2013 EARNINGS CALL – Lupatech S.A – slide 20
    IR Contacts Ricardo Doebeli Thiago Piovesan Frederiko Mamede CEO CFO e DRI Investor Relations rilupatech.com.br www.lupatech.com.br/ri Phone: +55 (11) 2134-7000

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