Debt Presentation as of December 31, 2014

Transcription

1 Debt Presentation as of December 31, 2014

2 Total Debt History (2)(3) Million Dollars (5) (3) 1,151 1,149 1,149 1,153 1, , ,252 1,262 1,258 1,257 1, , ,066 1,075 1,072 1,076 1,092 1,328 1,185 1,171 1,166 1,165 1,151 1,107 Mar'12 Jun'12 Sep'12 Dic'12 Mar'13 Jun'13 Sep'13 Dec'13 Mar'14 Jun'14 Sep'14 Dec'14 Total Debt excluding Accounts Receivable Financing Program Total Accounts Receivable Financing Program (1) Nominal pesos at the end of each period converted into dollars using the exchange rate at the end of each respective period (2) Total net debt includes Net Accounts Receivable Financing Program due to changes in Mexican FRS (3) Consummated the Concurso Plan; issued Notes due 2018 ( Notes 2018 ) and Mandatory Convertible Debentures ( MCDs ) due 2015 (4) As a result of the initiation of Concurso proceedings in the Commercial Courts of Madrid, Vitro Cristalglass, all of its debt was deconsolidated (5) On April 2013, issued New Notes due 2015 to Fintech and on September 2013 announced the redemption of 100% MCDs. 2

3 Total Net Debt History (2)(3) Million Dollars (3) 1, ,083 1,083 1,033 1, , (5) 1, , ,124 1, ,080 1, ,009 1, ,121 1,039 1,071 1,032 1, ,009 Mar'12 Jun'12 Sep'12 Dic'12 Mar'13 Jun'13 Sep'13 Dec'13 Mar'14 Jun'14 Sep'14 Dec'14 Total Accounts Receivable Financing Program net of cash reserves in trusts Total Net Debt excluding Accounts Receivable Financing Program (1) Nominal pesos at the end of each period converted into dollars using the exchange rate at the end of each respective period (2) Total net debt includes Net Accounts Receivable Financing Program due to changes in Mexican FRS (3) Consummated the Concurso Plan; issued Notes due 2018 ( Notes 2018 ) and Mandatory Convertible Debentures ( MCDs ) due 2015 (4) As a result of the initiation of Concurso proceedings in the Commercial Courts of Madrid, Vitro Cristalglass, all of its debt was deconsolidated (5) On April 2013, issued New Notes due 2015 to Fintech and on September 2013 announced the redemption of 100% MCDs. 3

4 Debt Profile as of December 31, 2013 and 2014 Fixed Rate Floating Rate + Fixed Spead Rate Exposure Dec.14 Dec.13 88% 90% 12% 10% Dollars Pesos Currency Exposure (2) Dec.13 Dec.14 91% 91% 9% 9% Banks Market Dec.13 28% 72% Source Dec.14 25% 75% (1) LIBOR and TIIE based rates (2) Since the disincorporation of Vitro Cristalglass operation, its outstanding balance is not included. 4

5 Amortization Schedule (1) Total Debt = US$ 1, Short Term Current Maturities of LT Long Term (1) On February 23, 2012, Vitro consummated the Concurso Plan and completed its debt restructuring issuing its Notes 2018 and MCDs and paid a cash restructuring fee. 5

6 Short Term Debt Schedule (1) Short Term Debt Profile = US$ Jul14 - Sep14 Oct14 - Dic14 Ene15 - Mar15 Abr15 - Jun15 Short Term Market (Short Term) Current Maturities of LT (1) Due to Vitro s accomplishment on the Concurso Plan, all short term debt is operating companies debt. 6

7 Amortization Schedule: Holding +Operating Companies (3) Holding Company 743 Operating Companies Consolidated 747 Short Term Current Maturities of LT Long-Term

8 Net Accounts Receivable Financing Program* Flat Glass US$ 29.3 million Glass Containers US$ 52.1 million Total Net Accounts Receivable Financing Program = US$ 81.4 million *Net of cash reserves included in a trust related to Accounts Receivable Financing Program 8

9 Appendix

10 Detail of Debt Amortization - Consolidated 1Q15 2Q15 3Q15 4Q15 Short Term Debt 2015 Note Notes Long Term Short Term

11 Detail of Debt Amortization - Consolidated Total Note Notes Long Term Short Term ,

12 Detail of Debt Amortization - Holding 1Q15 2Q15 3Q15 4Q15 Short Term Debt 2015 Note Notes Long Term Short Term

13 Detail of Debt Amortization - Holding Total Note Notes Long Term Short Term ,

14 Detail of Debt Amortization - Glass Containers 1Q15 2Q15 3Q15 4Q15 Short Term Debt Long Term Short Term Total Long Term Short Term

15 Detail of Debt Amortization - Flat Glass 1Q15 2Q15 3Q15 4Q15 Short Term Debt Long Term Short Term Total Long Term Short Term