ICL_2011公司宣传PPT

New focus on Specialty Fertilizers (p16) Dead Sea production assured (p8) Record sales; robust earnings (p3) Eco-friendly portfolio expands (p24) Creating a Better World Corporate profile 2011 A BreAk out YeAr for ICL 2011 In A SnApShot ICL is a global fertilizer and specialty chemicals company. We have almost 12,000 employees throughout the world and generated revenues of $7.1 billion in 2011. 2011 was a breakthrough year whose record results rounded out a full decade of exceptional growth for ICL. Our success reflects the steady execution of long-term strategies that have proven their ability to generate consistent growth and shareholder value despite the continuous change and volatility of world markets. In this review, we have illustrated our strategies in motion by highlighting some of the many accomplishments that we achieved during 2011. 2 ICL Corporate Profile 2011 | Selected Financial Data (in $ millions) 1. To the equity-holders of the company. 2. Net income plus net financing expenses, taxes, minority interest, depreciation and amortization, excluding extraordinary or one-time events. 3. Return on Equity = Net income/ Shareholders’ Equity, average. 4. Return on Invested Capital = (Operating Income x (1-0.20))/(Trade Receivables + Invenotory - Trade Payables + Property, Plant & Equipment, net), average. 5. Calculated according to market capitaliztion based on average share price adjusted for dividends. 2011 2010 2009 Sales 7,067.8 5,691.5 4,554.3 Operating Income 1,926.0 1,346.1 938.2 Net Income1 1,511.8 1,024.7 770.4 Cash Flow from Operating Activities 1,269.4 1,537.0 1,199.7 EbITdA2 2,190.2 1,572.1 1,225.9 ROE3 53.1% 38.0% 29.5% ROIC4 33.5% 21.4% 19.4% dividend Yield5 5.9% 7.0% 3.9% Segment Sales Revenues, Operating Profit, Net Income ($ millions) based on 2011 external sales 2003-2006 figures are based on Israeli GAAP 2007-2011 figures are based on IFRS Net Income1Operating IncomeSales 2,271 203 103 1,926 1,512 7,068 ‘05 ‘07 ‘08 ‘09 ‘10 ‘11‘04‘03 ‘06 Other P er fo rm an ce P ro du cts Ind us tri al P ro du ct s iz e rs F e r t il 21% 21% 54% 4% Fertilizers & Phosphates 22% Potash 32% 3 | ICL Corporate Profile 2011 Strategically, we completed acquisitions on three continents, enabling us to broaden our downstream product portfolio, expand our reach into fast-growing markets and further diversify our offerings. And equally important, in December we entered into a landmark agreement with the State of Israel, achieving certainty regarding our future production activities at the Dead Sea. These developments are the natural outgrowth of strategies we have been executing for more than a decade. Working on multiple fronts, we have transformed ICL from a conglomeration of separate enterprises into a highly profitable, focused, global, vertically-integrated company with a proven capacity to flourish in all market cycles. Perhaps the clearest indicator of our success is our market cap, which has risen from $1 billion in 2001 to $14 billion today. These results owe much to our steady execution of a long- term vision focused on extending our reach, improving our efficiency and taking advantage of opportunities arising from favorable market trends. Our decisions to continually expand our production capacity, to stockpile inventory during periods of weak demand, to diversify our mineral resources, to undertake global expansion and to pursue downstream markets – all while investing heavily in safety and environmental protection – have continually strengthened our operations, enabling us to deliver significant growth despite volatile markets. As a result, this consistent implementation of our strategy has led directly to our record sales and high profit margins. The diverse activities that we carried out in 2011, as described in this profile, are good illustrations of the multi-dimensional strategies that have driven our success. Having decided to expand our focus on the emerging specialty fertilizers market, we acquired Everris (previously, Scotts Global Pro) and Fuentes Fertilizantes, the leading specialty fertilizers producer in Spain, while also expanding our holdings in NU3, the world’s largest manufacturer of soluble NPK components. These strategic moves have transformed us into one of the largest global players in the Specialty Fertilizers industry. From almost every perspective, 2011 was a breakthrough year for ICL. Financially, our revenues reached a record level above $7 billion, giving us a net profit of $1.5 billion, second only to the outstanding year we had in 2008. from our ChAIrmAn And Ceo 4 ICL Corporate Profile 2011 | environmental awareness, and continue to research new, eco-friendly directions in specialty fertilizers, flame retardants, water treatment, battery storage and other areas. We thank our employees, shareholders, customers and suppliers for their important role in helping us to reach this exciting juncture in ICL’s history, and look forward to reporting continued progress in the year ahead. Yours truly, To expand our downstream capabilities and marketing reach in the Americas, we acquired Mexico-based Cosmocel Quimica, a manufacturer of functional food ingredients, and Halox, a U.S. producer of specialty phosphate products. To diversify our global sources of minerals, we scaled up our potash mining at Iberpotash and initiated mining of CPL’s vast North Sea reserves of polyhalite, an organic fertilizer. We are the first company in the world to mine polyhalite commercially. Perhaps most important, our landmark agreement with the State of Israel eliminates uncertainty regarding our future production activities at the Dead Sea and related special taxes for the foreseeable future. Our willingness to meet the government’s challenging demands - especially our agreement to bear the lion’s share of the project’s financial and operational burden and to double our potash royalty rates on sales above 1.5 million tons per year - demonstrates just how seriously we regard our responsibility to our workers, the communities in which we operate and to environmental protection. As we move forward, we have never been more excited about ICL’s prospects. Our efforts of the past have built the company into a powerhouse that is benefiting from the world’s strongest growth trends. We are proud that our products enhance global food supplies, clean the air, purify and multiply global water resources, and protect the world’s growing population. But the best is still ahead. We see new areas in which we would like to expand, and many new ways in which we can help alleviate difficult global challenges. We are excited by the many changes made possible by new technologies and an increased Mr. Nir Gilad Chairman of the board Mr. Akiva Mozes President & CEO Mr. Nir Gilad Chairman of the board Mr. Akiva Mozes President & CEO In January, Mr. Akiva Mozes notified ICL’s Board of Directors of his intention to retire after 37 years of working for the Company, including 13 years as its President and CEO. Mr. Mozes has not set the date of his retirement, and has agreed to continue serving as CEO while the Board of Directors conducts its process of identifying and naming a successor. The Board has nominated a committee to establish criteria for identifying a new CEO and to review the suitability of candidates. 5 | ICL Corporate Profile 2011 StrAtegIeS for AChIevIng SteAdY growth In A gLoBAL, voLAtILe eConomY 6 ICL Corporate Profile 2011 | Securing and broadening our mineral resources We benefit from differentiating access to plentiful sources of concentrated minerals. To broaden our advantage, we continually expand our production capacity and diversify our offerings. Extending our reach in fast-growing markets By creating products, sales and service organizations that target the needs of rapidly growing regions, we create strong new revenue streams for ICL. Moving downstream with new products & services By expanding into downstream markets driven by global trends, we diversify our revenue streams and protect ourselves against downturns in any one market. Expanding our environmental landscape We invest to expand our portfolio of eco-friendly products for large markets and to replace existing products being phased out. By making our operations more eco-friendly, we create efficiencies and reduce our impact on the environment. 7 | ICL Corporate Profile 2011 SeCurIng & BroAdenIng our mInerAL reSourCeS One of ICL’s key differentiating advantages is its favorable access to diverse sources of high-quality minerals. 8 ICL Corporate Profile 2011 | 33%~8% ICL ProdUCEs: ~8% oF tHE worLd’s PotasH aNd 33% oF tHE worLd’s bromINE. In 2011 we protected and extended this advantage through a number of activities, including: Entering into a landmark agreement with the State of Israel achieving certainty regarding our future production activities at the Dead Sea. Starting the next-stage expansion of our potash facilities at the Dead Sea. Initiating the consolidation and expansion of our potash mining operations in Spain. Launching the mining of polyhalite using our existing infrastructure in England Acquiring peat mines in England. 9 | ICL Corporate Profile 2011 SeCurIng our deAd SeA ACtIvItIeS Floating dredgers will dredge the salt. The salt will flow through a floating pipe to shore. 1 2 The process: In December 2011, ICL agreed to carry out the landmark Salt Harvesting Project, a permanent solution for stablizing the water level in Pond 5 (Southern Basin of the Dead Sea) and providing certainty regarding our future production activities at the Dead Sea. 10 ICL Corporate Profile 2011 | The dry salt will be transported on a 36km conveyor to a terminal. At the terminal, the salt will be loaded onto barges. 3 4 5 The barges will return the salt to the Dead Sea’s Northern Basin. A RESPONSIBLE APPROACH THAT BENEFITS INDUSTRY, TOURISM AND NATURE The Salt Harvesting Project: The project will be carried out over 6 years by ICL’s Dead Sea Works, and thereafter annually, at a total cost of NIS 3.8 billion* through 2030, 80% of which will be borne by ICL. When added to the present value of the dividend which ICL paid to the Israeli government in 1992 that was earmarked for the purpose of financing a solution to the rising level of the water in Pond #5, the Company will have covered, in effect, nearly 100% of the project cost. * present value 7% The level of Pond #5 will be stabilized at approximately 1.2 meters above its current level. The Pond’s dikes will be raised and strengthened, and the water level will be kept constant at its new, stabilized level via ongoing salt dredging and maintenance. 16 million cubic meters of salt will be harvested each year. The first round of dredging is expected to begin in 2016. 11 | ICL Corporate Profile 2011 INITIATION OF POLYHALITE MINING In 2011, ICL’s subsidiary Cleveland Potash began mining the vast reserves of high-quality polyhalite that lay 150 meters below its existing Boulby potash seam at ~1,000 meters depth in the North Sea. ICL is the first in the world to mine polyhalite commercially, and expects to ramp up production to 600 kt per year by 2015. Polyhalite is an organic fertilizer with a mineral structure consisting of 14% K2O, 50% SO3, 7% MgO and and a maximum of 3% chloride. It is ideal for use on sulfur-depleted lands, and particularly suited for chlorine- sensitive crops, such as premier fruits, vegetables, coffee, etc. It can be used as a raw material in both compound fertilizers and blends. 12 ICL Corporate Profile 2011 | rAtIonALIZAtIon of IBerpotASh mIneS In 2011, ICL’s subsidiary, Iberpotash, began carrying out a mining and processing upgrade efficiency program designed to expand its Suria/Cabanasas center and to phase out its Villafruns/Sallent center. The first phase of the program will cost €160 million. The project calls for increasing Cabanasas’ capacity to produce fertilizer- and technical-grade potash. It also specifies the building of new technologically advanced plants to manufacture vacuum and de-icing salt from potash manufacturing by-products. All plants will have a superior environmental profile in terms of energy usage, water consumption, emissions and by-products. €160M COST OF FIRST PHASE OF MININGAND PROCESSING UPGRADE AT ICL’SIBERPOTASH UNIT IN SPAIN Rationalization plan 2005 >>> >>>Today Tomorrow Bigger Cabanasas Mine Bigger Suria Plant Suria Mine Cabanasas Mine Vilafruns Mine Sallent Plant Suria Plant Cabanasas Mine Vilafruns Mine Sallent Plant Suria Plant 13 | ICL Corporate Profile 2011 14 ICL Corporate Profile 2011 | Success in downstream markets requires us to establish enhanced support and formulation capabilities near our customers in Europe, North America, Latin America and the Far East. In 2011, we initiated a new focus on the fast-growing specialty fertilizers industry while continuing to build out our local service capabilities for the food processing, paper, paints and coatings and other industries. ICL’s PosItIoNINg IN dowNstrEam markEts: #1 in organophosphorus flame retardants #1 in soluble fertilizers and controlled & slow release fertilizers #1 producer of pure phosphoric acid #1 in specialty phosphates #1 in fire safety products #1 in PK fertilizers (compound potash & phosphate) #1 in bromine-based drilling fluids for the oil and gas industry Major player in specialty fertilizers & specialty chemical niche markets To help us capitalize on our back-integration to mineral, we continually expand our downstream activities, especially in markets whose growth is being propelled by long- term global trends. No.1 15 | ICL Corporate Profile 2011 NEw FOcuS ON SPEcIALTY FErTILIzErS FOOd INGrEdIENTS & HYGIENE SOLuTIONS Nutrisi Holdings (50%): owner of 50% of NU3 (partnership with Yara), the world’s largest manufacturer of soluble NPK fertilizer components. Now, ICL sPECIaLty FErtILIzErs Has bEComE a sEgmENt wItH: ~$650M in annual sales One of the Specialty Fertilizer industry’s largest global sales & support organizations Broad portfolio of unique, branded products & proprietary technologies In a world with more mouths to feed from less land and water resources – and with increasing awareness of environmental protection - farmers throughout the world are increasing their use of advanced agricultural techniques and specialty fertilizers. As a result, global sales of specialty fertilizers are growing at 5%-8% per year, compared with 3%-4% for conventional products. During 2011, ICL carried out acquisitions to transform itself into a Specialty Fertilizers leader: Everris (formerly scotts global Pro ): a leading Specialty Fertilizer company with sales and support teams on 5 continents, manufacturing plants in the US and Europe, a broad portfolio of branded products and proprietary technologies. Fuentes: Spain’s largest specialty fertilizer company, with production facilities in the center of Spain’s agricultural areas, as well as warehouses, port facilities and logistics centers in southern and eastern Spain. ICL is a leading global provider of innovative solutions that meet growing global regulations and concern for all aspects of food processing and preparation. Through activities carried out in 2011, ICL expanded its product and further expanded its local support capabilities: aCQUIsItIoN oF CosmoCEL, a Mexican manufacturer of phosphate-based functional food ingredients and specialty chemicals for the bakery, dairy and beverage industries. LaUNCH oF saLoNa™, a natural Dead Sea mineral used in food processing as a low-sodium replacement for salt. 16 ICL Corporate Profile 2011 | ICL provides customized water treatments for a wide variety of industrial and institutional industries, including power plants, oil refineries, chemical plants, paper companies, steelworks and waterworks. ICL’s offerings include brominated biocides for pre- treatment, treatment, de-contamination and re-use of wastewater. For example, ICL’s joint venture with Angang Industry Group provides comprehensive water treatment solutions to Ansteel Group, the second largest steel producer in China. In 2011, ICL’s Medentech business unit, which develops cost-effective water disinfection solutions, obtained US Environmental Protection Agency (EPA) registration for Aquatabs, the world’s leading brand of water purification tablets. This registration opens the lucrative US market to Aquatabs sales. wATEr TrEATMENT SOLuTIONS & SErvIcES $650M ANNUAL SALES OF ICL SPECIALTY FERTILIZERS FOLLOWING 2011 ACQUISITIONS OF EVERRIS (FORMERLY SCOTTS GLOBAL PRO) AND FUENTES 500 R&D EMPLOYEES DEVELOPING CUSTOM SOLUTIONS AND NEW, SUSTAINABLE PRODUCTS & APPLICATIONS AT ICL’S IMI INSTITUTE IN ISRAEL AND BUSINESS UNITS WORLDWIDE 99.9999% BACTERIA KILLED OF MEDENTECH’S FDA APPROVED AQUATABS, THE WORLD’S #1 WATER PURIFICATION TABLET dOwNSTrEAM PHOSPHATE SPEcIALTIES During 2011, ICL Performance Products acquired the Halox Division of the Hammond Group to expand its portfolio of specialty phosphate products for the paint and coatings industry. 17 | ICL Corporate Profile 2011 extendIng our reACh In fASt- growIng mArketS 18 ICL Corporate Profile 2011 | China, India, Brazil and other developing regions have been experiencing extraordinary economic expansion over the past few years. To capitalize on their growth, ICL continues to expand its global manufacturing, distribution, sales and support capabilities. OF ICL’S PERSONNEL ARE BASED OUTSIDE OF ISRAEL 55% 43.5% OF ICL’S SALES ARE OF PRODUCTS MANUFACTURED OUTSIDE OF ISRAEL 19 | ICL Corporate Profile 2011 ExPANdING IcL’S PrESENcE IN cHINA INdIA: A NEw cENTEr OF IcL’S GrOwTH China has been a focus for ICL’s potash sales for more than a decade. In 2011, ICL’s potash sales to Chinese customers reached a record of 1.25 million tons. ICL is establishing a growing network of manufacturing, sales and support capabilities throughout China. Recent projects and activities include: Establishment of the bkg/angang steel - Partnership for the provision of water purification services for steel plants Building of a thermoplastic waste recycling center Building of a rhenoflex “waste-free” production line Erecting a new plant for the manufacture of bromine-based biocides for water treatment Expanding our capacity to manufacture phosphate salt food additives Establishing the marketing and service network for our hygiene and disinfection business ICL recently established a regional office in Gurgaon to coordinate all of ICL’s Indian business activities and to provide centralized support for local business development, marketing and administrative requirements. ICL’s key activities in India during 2011 included: Completion of potash supply agreement totaling a record 1.4 million tons Expansion of the manufacturing capacity of Zuari Rotem Specialty Fertilizers’ soluble fertilizer manufacturing plant, with plans to build two additional plants 20 ICL Corporate Profile 2011 | AcquISITIONS ExPANd GLObAL SALES, SErvIcE & LOGISTIcS cAPAbILITIES EvErrIs: gave ICL Specialty Fertilizers a highly- trained sales and support organization with 220 employees in the US, Europe and the Far East FUENtEs: gave ICL Specialty Fertilizers warehouses and logistics centers throughout Spain, and a platform for the launch of operatio