apresentação fórum latibex (em inglês)
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ForoForo LatibexLatibexMadrid, November 2008Madrid, November 2008
2
Forward-looking Statements
This presentation contains forward-looking statements. These statements do
not represent historical fact, but rather reflect the beliefs and expectations
of Braskem’s management. The words “anticipate”, “wish”, “expect”,
“estimate”, “intend”, “forecast”, “plan”, “predict”, “project”, “target” and
similar words are intended to identify these statements. Although Braskem
believes that the expectations and assumptions reflected in these forward-
looking statements are reasonable and based on information currently
available to management, Braskem cannot guarantee future results or events.
The forward-looking statements included in this presentation are valid only
on the date on which they are made (September 30, 2008), and the Company
does not undertake any obligation to update them in light of new information
or future developments.
Braskem is not responsible for any transaction or investment decision taken
based on the information in this presentation.
3
Braskem – Leader in Latin America
3
Source: CMAI
Quattor* Solvay EcopetrolMexichemBraskem
3,440
1,515
682521 438
692
Dow
*JV between Unipar (60%) and Petrobras (40%)
PVC
PEPP
2,040
FormosaDow LyondellBasell
Braskem ShintechIneos
5,774
3,440
4,646
2,949
2,161
615
64
5,0952,813
1,833
1,815
1,110
515515
978
761
1,2101,210
926
1,235
Braskem’s resin capacity in Latin America, kton
Braskem’s resin capacity in The Americas, kton
Brazilian assets
Gross Revenue Gross Revenue
US$ 14 bi
Net RevenueNet Revenue
US$ 11 bi
Enterprise ValueEnterprise Value
US$ 7.2 bi
AssetsAssets
US$ 12 bi
Braskem’s 3Q08 LTM Financials
Net Debt/EBITDANet Debt/EBITDA
3.42X
EBITDAEBITDA
US$ 1.4 bi
3rd
4
Market share in PE
29% 31%
55% 50%
32% 28%
16% 19% 16% 21%
51%52%
33% 37%
53% 46%
15% 17%
0%
20%
40%
60%
80%
100%
2001 2003 2005 2006 2007 9M08
BRASKEM PEER IMPORTS
Leadership in a fast-growing domestic market
Source: Abiquim
PEPPPVC
2,880
3,435 3,3773,694
2001 2004 2005 2006
4,048
2007
1,695
990
692
1,833
1,114
1,964
1,228
856
6.0%CAGR
10%
9%
749
Brazilian domestic resin demand, Kton/y
Market share in PP
Market share in PVC
0101--08 GDP Elasticity in Brazil: 2x08 GDP Elasticity in Brazil: 2x
8%-10% in 2008
57%48%
29%32%
27%
14% 20% 19%
52%54%52% 53%
17%28% 30%
31%20% 17%
0%
20%
40%
60%
80%
100%
2001 2003 2005 2006 2007 9M08
51% 55% 37% 33%
9% 7%14% 15%
52%38%40% 41%42%
49%
50%48%
9%10%
0%
20%
40%
60%
80%
100%
2001 2003 2005 2006 2007 9M08
5
Track record of strong and consistent organic growth and acquisitions
2012
2002
Rank amongst the Rank amongst the 10 10 largest petrochemical largest petrochemical companies in the world companies in the world
measured by EV*measured by EV*
Become the Become the largestlargestthermoplastic resins thermoplastic resins producer in Latin producer in Latin
AmericaAmerica
2006TrikemTrikem
2007PolialdenPolialden
PolitenoPolitenoIPQ / CPSIPQ / CPS
2008
PauliniaPaulinia
* Enterprise Value3Q08LTM
457
871 851758
200720062005200420032002
581
1,6261,422EbitdaEbitda US$ US$ milllionmilllion
+23% CAGR
6
FREE FLOAT 36.5% 59.3%
ODEBRECHT
32.0%45.3%
NORQUISA (1)
6.0%15.1%
PETROQUISA
23.0%30.0%
OTHERS (2)
31.2%6.5%
CONTROLLING GROUP 60.3% 38.0%
BNDESPAR
5.1%0.0%
Ownership Structure
% Voting Capital % Total Capital
Notes: 1 - Odebrecht has 100% of Norquisa2 - Does not include shares held in treasury (3% of total)
• Corporate governance standards: Shareholders’ agreement
• Potential for operational synergies with refineries and partnership with Petrobras R&D Center
• Alliance to strengthen Brazil’s petrochemical value chain
– Consolidation around 2 large competitors (Braskem & Quattor)
– Access to competitive raw materials
– Improved value chain competitiveness
Leveraging relationship with Petrobras:
7
ConvertersBasic petchem Resins
Industrial integration
Innovation & technology
Innovation & technology
Service and log barriers
Service and log barriers
Oil/Gas-refineries
Competitive raw material
Competitive raw material
Enhanced competitiveness through value chain integration
Operational synergies
Operational synergies
Growing economic relevance of the Brazilian Converters
Annual revenue of converters, US$ Billion
16%
17%
11%
9%
7%
5%
2%2%
15%
1%
15%
Diversified segments, %consumptionPackaging
Construction
FoodAgriculture
Home appliances
Health and cleaning
Shoes
Electrical appliances
Cosmetics/ Pharma
Others
Automotive18.717.2
15.3
13.2
9.38.1
6.7
2001 2002 2003 2004 2005 2006 2007
% GDP
1.2% 1.6% 1.7% 2.0% 1.7% 1.6% 1.5%
8
Challenging petrochemical cycle
Source: CMAI June 2008
Improved conditions compared to downturns in 1991 and 2000
• Frequent delays in new capacities
• Supply-demand geographical imbalance leads to logistics barriers
• Increased economic importance of emerging economies
Potential negative factors
• US/EU slow down
• Incentives to sustain supply buildup
– China: import substitution
•Middle East own agenda
Global ethylene supply-demand and operating rate, Mton/y, %
Supply vs. Demand
Operating rate – Set 08 Operating rate – Oct 07
Supply Demand1 2 3 4 5
131139
149 153
117123 129 135
88%88%87%87%88%88%90%90%
2008 2009 2010 2011
157
142
90%90%
2012
84%84%83%83%84%84%
88%88%
1 2 3 4
9
Braskem is prepared to seize the opportunities offered by this environment
Assure regional low-cost raw
material and energy supplies
B
Expand access to attractive markets
C
• Leveraging relationship with Petrobras
• Value-chain virtual integration
– Refineries, raw materials
– Service and logistics
– Innovation and technology
• Operational, commercial excellence
• Adding value to the crackers’ by-products
• Gas crackers in Latin America
• Brazilian sugar cane ethanol
• Green-PE and renewables
• Potential M&As and Alliances
Improve and protect core Latin American business
A
Strengthen current position
Grow with
value cr
eation
10
Green Polyethylene: a pioneer achievement
� Start up in 2011
� Investment: ~ US$ 250 MM
� Capacity: 200 Kton/year
� Estimated Demand: ~ 500
kton/year
� Location: Triunfo
� Ethanol Consumption: 460 MM
litters/year
� Target-markets: USA, Europe and
Japan
� Sectors: Automotive and
consumption goods
100% Renewable 100% Renewable raw materialraw material
Sugar cane ethanolSugar cane ethanol
Certified by Beta Certified by Beta Analytics USAAnalytics USA
Main laboratory in the world Main laboratory in the world
specialized in carbon analysisspecialized in carbon analysis
11
1111
Braskem: established platform leverages future growth
High corporate governance standardsHigh corporate governance standards
� Regional leadership
� Track record of sustainable growth with value creation
� Tangible innovation: Green polymer and product oriented R&D
� Sound capital structure
� Strategic shareholders´́́́ base: Odebrecht + Petrobras + 38%
Floating
� Internationalization: growth towards competitive feedstock and attractive markets
� People and Sustainability at the center of the strategy
� 100% tag along for all shareholders
ForoForo LatibexLatibexMadrid, November 2008Madrid, November 2008
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