Slides [PDF, 465.59 Kb] - Tessenderlo Group

Capital intensity requires significant cash
Normalised Free Cash Flows (1) of businesses in scope
10-year Cumulative Free Cash Flows: c.(37 million EUR)
5-year Forecast Free Cash Flows: c.21 million EUR
Cumulative Capex
10-year Cumulative Capex: c.315 million EUR
10-year Forecast Capex: c.280 million EUR
Million EUR
Actual
Forecast
Million EUR
457
80
Avg EBITDA: c.32 million EUR
Avg EBITDA: c.33 million EUR
60
40
315
20
0
Avg FCF: c.(4)
million EUR
Avg FCF: c.4 million EUR
199
-20
-40
18
-60
2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Free Cash Flows
EBITDA
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
(1) Free Cash Flow: Normalised EBITDA – Capex +/ – Increase in working capital (15% of revenue) –
Tax on EBIT net of deferred tax assets
9
Tessenderlo Group exits commodities and transforms into a global specialty group