<PAGE>
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For DECEMBER 6, 2000
-------------------------------------------------------------------------
QUEBECOR WORLD INC.
-----------------------------------------------------------------------------
(Translation of Registrant's Name into English)
612 SAINT-JACQUES STREET, MONTREAL, QUEBEC, H3C 4M8
-----------------------------------------------------------------------------
(Address of Principal Executive Office)
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F)
Form 20-F Form 40-F X
----- -----
(Indicate by check mark whether the registrant by furnishing the information
contained in this form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.)
Yes No X
----- -----
<PAGE>
Supplemental Disclosure
by
QUEBECOR WORLD INC.
Filed in this Form 6-K
Documents index
1. Supplemental Disclosure - Quebecor World : Investor Meetings, December 2000
<PAGE>
[LOGO]
Quebecor World
INVESTOR MEETINGS
DECEMBER, 2000
<PAGE>
QUEBECOR WORLD
------------------------------------------------------------------------------
------------------------------------------------------------------------------
Charles G. Cavell President and CEO
------------------------------------------------------------------------------
Marc L. Reisch Chairman, President and CEO, Quebecor World North America
------------------------------------------------------------------------------
Christian M. Paupe Executive Vice President
------------------------------------------------------------------------------
2
<PAGE>
QUEBECOR WORLD
------------------------------------------------------------------------------
Except for historical information contained herein, the statements in this
release are forward-looking and made pursuant to the safe harbor provisions
of the Private Securities Litigation Reform Act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties that may cause
the Company's actual results in future periods to differ materially from
forecasted results. Those risks include, among others, changes in customers'
demand for the Company's products, changes in raw material and equipment
costs and availability, seasonal changes in customer orders, pricing actions
by the Company's competitors, and general changes in economic conditions.
Those and other risks are more fully described in the Company's filings with
the Securities and Exchange Commission.
3 [LOGO]
<PAGE>
QUEBECOR WORLD
------------------------------------------------------------------------------
TABLE OF CONTENTS
<TABLE>
<CAPTION>
TAB
<S> <C>
Business Overview........................... 1
Markets and Products........................ 2
Financial Review............................ 3
Investment Highlights....................... 4
</TABLE>
4 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
SERVING THE GLOBAL MARKET
[MAP]
- 160 facilities
- 16 countries
- 43,000 employees
- $6.7 billion assets
5 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
THE MARKET LEADER IN PRINT MEDIA
- The world's LARGEST AND MOST PROFITABLE commercial printer
- The MARKET LEADER in printing and distribution of magazines, catalogs,
books and retail inserts
- An industry consolidator with 25% ANNUAL EPS GROWTH over the past 10 years
-------------------------------------------------------------------
- Quebecor World is the market leader in the print media industry.
-------------------------------------------------------------------
6 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
REVENUE GROWTH
REVENUES
10 Year CAGR = 22%
<TABLE>
<CAPTION>
US$ Millions
<S> <C>
1989........................ $ 653
1990........................ $1,265
1991........................ $1,387
1992........................ $1,444
1993........................ $1,743
1994........................ $2,116
1995........................ $3,004
1996........................ $3,110
1997........................ $3,483
1998........................ $3,808
1999........................ $4,953
LTM......................... $6,654
</TABLE>
7 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
EARNINGS GROWTH
EPS
10 Year CAGR = 25%
<TABLE>
<CAPTION>
<S> <C>
1989........................ $0.16
1990........................ $0.38
1991........................ $0.55
1992........................ $0.72
1993........................ $0.82
1994........................ $0.87
1995........................ $1.05
1996........................ $1.09
1997........................ $1.12
1998........................ $1.29
1999........................ $1.57
2000........................ $1.93(1)
</TABLE>
(1) Consensus Earnings
8 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
CASH EARNINGS GROWTH
CASH EPS
10 Year CAGR = 25%
<TABLE>
<CAPTION>
<S> <C>
1989........................ $0.19
1990........................ $0.41
1991........................ $0.61
1992........................ $0.76
1993........................ $0.85
1994........................ $0.92
1995........................ $1.13
1996........................ $1.17
1997........................ $1.20
1998........................ $1.43
1999........................ $1.81
2000........................ $2.36(1)
</TABLE>
(1) Consensus Earnings
9 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
GEOGRAPHIC DIVERSIFICATION
REVENUES = $6.7 BILLION
[GRAPHIC]
Canada 16%
USA 68%
Europe 14%
Latin America 2%
GLOBAL LEADERSHIP.
OUR STRENGTH STEMS FROM NORTH AMERICA.
EUROPE PROVIDES LONGER TERM CONSOLIDATION OPPORTUNITIES.
WE ARE PREPARING FOR THE ECONOMY OF THE FUTURE IN LATIN AMERICA.
10 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
PRODUCT DIVERSIFICATION
REVENUES = $6.7 BILLION
[GRAPHIC]
Books 12%
Specialty and Direct 14%
Catalogs 16%
Retail 18%
Magazines 29%
Pre-media & Logistics 6%
Directories 5%
- Diversified product mix provides:
- ONE-STOP SHOPPING FOR CUSTOMERS
- STRONGER RELATIONSHIPS WITH CUSTOMERS
- GREATER VALUE DELIVERED TO CUSTOMERS
- STABILITY AND OPPORTUNITY FOR QUEBECOR WORLD
11 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
EXISTING MARKETS PERSPECTIVE
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------
PRO FORMA Economic Industry
MARKET COMPANY 1999 REVENUES Environment Condition
----------------------------------------------------------------------------------------
<S> <C> <C> <C> <C>
Canada Quebecor World 1000 Relatively Largely
GTC 800 Stable Consolidated
St. Joseph's 175
----------------------------------------------------------------------------------------
USA Quebecor World 4700 Relatively Fragmented;
R.R. Donnelley 4600 Stable IQW is the sole
Quad Graphics 2000 consolidator
Vertis (Big Flower) 1875
Banta 1500
----------------------------------------------------------------------------------------
Europe Quebecor World 950 Stable Fragmented;
Polestar 800 EU=1 Market 3 industry
Roto Smeets 730 consolidators;
St. Ives 700 Publisher-printers
Bertelsman 1500 slowly divesting
Hachette 250
----------------------------------------------------------------------------------------
Latin R.R. Donnelley 235 Cyclical but May become low cost
America Quebecor World 150 improving competitor to Asia
Corgraphics 100
Abril 100
----------------------------------------------------------------------------------------
</TABLE>
* Pro forma 1999 revenues by geographical regions are based on management
best estimates.
12 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
ESTIMATED COMMERCIAL PRINTING VOLUME
QUEBECOR WORLD
CANADA U.S.A. EUROPE LATIN AMERICA
$11 billion market $150 billion market $90 billion market $8 billion market
5% 3% 1% 1%
Despite our industry-leading position, we have room to grow in our existing
markets.
13 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
POTENTIAL GROWTH STRATEGIES
<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------
EPS Growth
STRATEGY ASSUMPTIONS (2000 - 2003)
<S> <C> <C>
----------------------------------------------------------------------------------------
Organic growth in line with GDP Growth
No acquisitions
Internal (Base Case) Limited growth capital 10% - 12%
Focus on efficiency
Gradual margin expansion
Debt repayment and/or share repurchases
----------------------------------------------------------------------------------------
Identified numerous opportunities
Niche Acquisitions Funded internally 14% - 17%
Strengthen existing product franchises
Expand existing geographic footprint
Moderate top-line growth
----------------------------------------------------------------------------------------
Options exist in all current geographies
Strategic Acquisition Timing driven by target availability
Growth continues at historical levels 20% +
----------------------------------------------------------------------------------------
</TABLE>
14 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
COMPETITIVE ADVANTAGE
- ASSET UTILIZATION ADVANTAGE
- GREATER SCHEDULING EFFICIENCY (MORE PRESSES AVAILABLE TO DO SIMILAR
WORK TRANSLATES INTO HIGHER CAPACITY UTILIZATION, LESS OVERTIME, LESS
CASUAL LABOR AND LESS OUTSOURCING)
- EXTENDED USE OF ASSET LIVES THROUGH GEOGRAPHICAL REDEPLOYMENT
- EFFICIENCIES IN INVENTORY MANAGEMENT (VIRTUAL WAREHOUSE OF SUPPLIES
AND PARTS)
- TECHNOLOGY ADVANTAGE
- INVESTMENTS IN TECHNOLOGY HAVE PROVIDED A COST STRUCTURE WHICH IS
BELOW MARKET-CLEARING PRICE (E.G. WIDER WEB WIDTHS)
- RELATIONSHIP WITH / LEVERAGE OVER EQUIPMENT MANUFACTURERS
ACCELERATES DEVELOPMENT OF NEW COST-SAVING SOLUTIONS (E.G.
PRE-PRESS ALTERNATIVE TO CREO, 3 NEW 39" WEB OFFSET PRESSES, FERAG
SELECTIVE BINDERY)
- PROCUREMENT ADVANTAGE
- PURCHASING PAPER, INK, SUPPLIES AND TECHNOLOGY / EQUIPMENT ON A
GLOBAL SCALE GENERATES BOTTOM LINE BENEFITS ATTRIBUTABLE TO SIZE
- THE COMPANY'S SIZE PROVIDES LEVERAGE TO DIRECT SUPPLY CHAIN
EVOLUTION, RETAINING EFFICIENCIES IN-HOUSE (E.G. ESTABLISHMENT OF
A PRIVATE MARKETPLACE; DEVELOPMENT OF WEB-ENABLED PROCUREMENT
SYSTEM; MATERIALS & SUPPLIES SELF-SERVICE)
- LOGISTICS ADVANTAGE
- ABILITY TO POOL SHIPMENTS (FILL TRUCKS) REDUCES FREIGHT COSTS
- USE OF MAIL LIST TECHNOLOGIES REDUCE POSTAGE COSTS (DEEPER
PENETRATION)
- BUNDLING DIFFERENT PRODUCTS HAVING THE SAME FINAL DESTINATION
REDUCES OVERALL FULFILLMENT COST
15 [LOGO]
<PAGE>
BUSINESS OVERVIEW
------------------------------------------------------------------------------
COMPETITIVE ADVANTAGE
- SPEED OF DELIVERY
- ABILITY TO QUICKLY PRODUCE ON A MASS SCALE USING MULTIPLE PLANTS
SIMULTANEOUSLY
- ABILITY TO PRINT CLOSE TO CUSTOMER'S FINAL SHIPPING DESTINATION
REDUCES TIME (AND COST)
- CUSTOMIZATION
- ABILITY TO PRODUCE THROUGH STATE-OF-THE-ART BINDERY HIGHLY
CUSTOMIZED PRODUCTS ON A MASS SCALE FOR TARGETED MARKET
PENETRATION (E.G. 100 EDITIONS OF MONEY MAGAZINE, 300 EDITIONS OF
ELLE)
- PRODUCT BREADTH
- THE CONVENIENCE OF ONE-STOP SHOPPING FOR ALL PRINTING REQUIREMENTS
- DEVELOP CROSS-SELLING RELATIONSHIPS THROUGH CUSTOMERS' CENTRAL
PROCUREMENT OFFICES
- MARKET INTELLIGENCE
- CUSTOMERS DRAW UPON OUR BREADTH OF INFORMATION RELATING TO
DEMOGRAPHIC PATTERNS (DATA MINING)
16 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
10+ YEARS OF ACCRETIVE ACQUISITIONS
TOTAL REVENUES
22% CAGR
[PERFORMANCE GRAPHIC REPRESENTING]
[QUEBECOR WORLD INC. and WORLD COLOR PRESS INC.]
--------------------------------------------------------------------------------
- 2 COMPANIES WITH WELL EXECUTED-ACQUISITIONS STRATEGIES (85 SUCCESSFUL
ACQUISITIONS IN EXCESS OF $4 BILLION OVER 10 YEARS).
- EACH ACQUISITION ENHANCES THE COMPANY'S POWER TO SERVE ITS CUSTOMERS AND
IMPROVE SHAREHOLDER RETURNS.
--------------------------------------------------------------------------------
17 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
THE INDUSTRY LEADER
COMMERCIAL PRINTING REVENUES
[PERFORMANCE GRAPH OF]
[VARIOUS LARGE PRINTING COMPANIES]
18 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
THE 1999 MERGER WITH WORLD COLOR:
- THE LARGEST BUSINESS MERGER AND RESTRUCTURING EVER UNDERTAKEN IN THE
INDUSTRY:
- gave us the LEADING U.S. MARKET POSITION
- created STRONG NORTH AMERICAN MANAGEMENT STRUCTURE
- provided COST SAVINGS AND SYNERGIES
- built a CRITICAL MASS for:
- FURTHER CONSOLIDATION
- FURTHER COST EFFICIENCY
- FURTHER OPERATING EFFICIENCY
- INCREASING VALUE TO CUSTOMERS AS THEY CONSOLIDATE / GLOBALIZE
------------------------------------------------------------------------------
The "merger of two equals" provided the foundation for
the next stage of growth.
------------------------------------------------------------------------------
19 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
MAGAZINES
[GRAPHIC OF 10 MAGAZINES]
---------------------------------------------------------------------------
- Quebecor World prints HALF of the top 125 magazine titles in the U.S.A.,
and our customers include ALL of the top 5 publishers.
---------------------------------------------------------------------------
20 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
BOOKS
[GRAPHIC OF 12 BOOKS]
------------------------------------------------------------------------------
- Quebecor World prints close to 1 BILLION BOOKS in the U.S.A. each year
(example: 60% of the Harry Potter series).
- Global book manufacturing platform (we also print books in Spain, Columbia,
Peru, Chile, Mexico and soon Canada).
------------------------------------------------------------------------------
21 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
CATALOGS
[GRAPHIC OF 10 CATALOGS]
------------------------------------------------------------------------------
- 14 of our 20 largest customers are ranked in the Top 100 catalog producers
according to Catalog Age.
- Up to 25% of Sears Canada's sales originate through catalogs we produce.
------------------------------------------------------------------------------
22 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
INSERTS
[GRAPHIC OF VARIOUS INSERTS]
------------------------------------------------------------------------------
- We print 42 million copies of PARADE each week, inserted in 390 newspapers.
Our COAST-TO-COAST PRINTING NETWORK makes TIME-CRITICAL DELIVERY possible.
- Half of the inserts found in major weekend papers is typically printed by
Quebecor World.
------------------------------------------------------------------------------
23 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
COMMERCIAL AND SPECIALTY
[GRAPHIC OF PRODUCTS]
------------------------------------------------------------------------------
Quebecor World is the leading printer of annual reports in North America.
Our brand name instills CONFIDENCE in our customers.
------------------------------------------------------------------------------
24 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
DIRECTORIES
[GRAPHIC OF 5 DIRECTORIES]
------------------------------------------------------------------------------
- In North America, we produce 180 MILLION DIRECTORIES PER YEAR, 90% under
long term contracts, shipped to all states except Hawaii, and all Canadian
provinces.
- In South America, we recently reached a 10-year agreement with BELLSOUTH to
print its directories.
------------------------------------------------------------------------------
25 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
QUE-NET MEDIA
- 90%+ of our customers currently perform pre-media work in-house or
outsource to a different provider
- Que-Net Media was created to focus on expanding market penetration in a
HIGH MARGIN / HIGH RETURN on CAPITAL business
- CROSS-MARKETING between pre-media services and printing services is
presenting new opportunities
- Avon
- Hard Rock Cafe
- DIGITAL IMAGING, CONTENT MANAGEMENT AND REPURPOSING are core competencies
of Quebecor World
- Digital text and graphics for print or web media formats
26 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
GLOBAL CUSTOMERS NEED GLOBAL SUPPLIERS
<TABLE>
<CAPTION>
--------------------------------------------------------------------------
North Latin
America Europe America
--------------------------------------------------------------------------
<S> <C> <C> <C>
Magazines EMAP EMAP
Forbes Forbes
Book of Hope Book of Hope Book of Hope
Rodale Press Rodale Press
Bauer Bauer
Meredith Air France
Hearst Hearst
Hachette
--------------------------------------------------------------------------
Catalogs IKEA IKEA
Air France Air France
Brylane/LaRedoute Brylane/LaRedoute
Office Depot Office Depot
Learning Tree Learning Tree
Avon Avon
Carrefour Carrefour
--------------------------------------------------------------------------
Retail Costco Costco
--------------------------------------------------------------------------
Directories BellSouth BellSouth
--------------------------------------------------------------------------
Specialty Meredith Meredith
Chrysler Chrysler
Nortel Nortel Nortel
--------------------------------------------------------------------------
Books Scholastic Scholastic
Reader's Digest Reader's Digest
Book of Hope Book of Hope
Thomas Nelson Thomas Nelson
Santillana Santillana
--------------------------------------------------------------------------
Pre-Media Hachette Hachette
Emap Emap
--------------------------------------------------------------------------
</TABLE>
- Quebecor World is unique in its ability to meet our customers' printing
needs in 16 different countries.
- Quebecor World currently generates $400 million of sales from customers
using our service on more than one continent.
27 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
EUROPE
- HISTORY
- Entered European market in 1994 with the acquisition of Jean Didier
- Built a $1 billion revenue base largely through acquisitions
- RESTRUCTURING AND REORGANIZATION
- Recognized a one-time charge in Q4 1999
- Completed closure of Bondouffle during Q2 2000
- New management team in place Q3 2000
- Specialization and rationalization of manufacturing platform will
continue throughout 2000 and first half of 2001
- STRATEGY
- Europe offers significant long-term potential as publisher-printers
focus on production and delivery of content
- Europe remains a very fragmented market, with opportunity for further
consolidation, specialization and economies of scale
- Our preferred approach will be to establish partnerships with publishers
looking to exit printing business (with security of a long-term printing
contract)
28 [LOGO]
<PAGE>
MARKETS AND PRODUCTS
------------------------------------------------------------------------------
LATIN AMERICA
- GLOBALIZATION
- Serve global needs of global customers
- Low wage / cost infrastructure (alternative to Asia as low-cost supplier
to North America)
- Increase asset utilization (redeployment of older equipment)
- MARKET POTENTIAL
- Population 360 million + (Brazil 170 million)
- High literacy rates
- Cyclical economies but growth on the upswing
- Currently low levels of per capita magazine consumption (2 - 5 per year
versus 12 - 30 in North America and Europe)
- EARLY STAGE OF THE INDUSTRY
- Highly fragmented
- Rapid growth opportunities available
-----------------------------------------------------------------
Quebecor World is investing prudently in the economy of tomorrow.
-----------------------------------------------------------------
29 [LOGO]
<PAGE>
FINANCIAL REVIEW
------------------------------------------------------------------------------
RECORD THIRD QUARTER (Q3 2000)
<TABLE>
<CAPTION>
-----------------------------------------------
3 MONTHS Q3 % GROWTH
-----------------------------------------------
<S> <C> <C>
Revenues $1,633.8 +30%
-----------------------------------------------
Operating Income $ 202.4 +60%
-----------------------------------------------
Net Income $ 88.7 +62%
-----------------------------------------------
EPS $ 0.58 +35%
-----------------------------------------------
</TABLE>
<TABLE>
<CAPTION>
-----------------------------------------------
9 MONTHS Q3 YTD % GROWTH
-----------------------------------------------
<S> <C> <C>
Revenues $4,813.3 +55%
-----------------------------------------------
Operating Income $ 508.3 +89%
-----------------------------------------------
Net Income $ 189.1 +54%
-----------------------------------------------
EPS $ 1.23 +27%
-----------------------------------------------
</TABLE>
------------------------------------------
We have met or exceeded consensus earnings
estimates for nine consecutive quarters.
------------------------------------------
30 [LOGO]
<PAGE>
FINANCIAL REVIEW
------------------------------------------------------------------------------
OPERATING MARGIN MOMENTUM
[CHART]
-------------------------------------------------------------------
Quebecor World's operating margin is improving to new record levels
for each quarter.
-------------------------------------------------------------------
31 [LOGO]
<PAGE>
FINANCIAL REVIEW
------------------------------------------------------------------------------
EARNINGS PER SHARE
<TABLE>
<CAPTION>
<S> <C>
1997........................ $1.12
1998........................ $1.29
1999........................ $1.55
2000........................ $1.93
</TABLE>
(1) Consensus Earnings
32 [LOGO]
<PAGE>
FINANCIAL REVIEW
------------------------------------------------------------------------------
SG&A
<TABLE>
<CAPTION>
SG&A % of Revenues
<S> <C>
1990........................ 8.4%
1991........................ 8.4%
1992........................ 8.7%
1993........................ 8.1%
1994........................ 8.5%
1995........................ 7.9%
1996........................ 8.1%
1997........................ 7.7%
1998........................ 7.5%
1999........................ 7.0%
</TABLE>
------------------------------------------------------------------------------
Quebecor World's SG&A as a percent of revenues is significantly below that of
its competitors, and has been improving as the company continues growing
revenues with little need for additional G&A
------------------------------------------------------------------------------
33 [LOGO]
<PAGE>
FINANCIAL REVIEW
------------------------------------------------------------------------------
CAPITAL EXPENDITURES
[GRAPH OF CAPITAL EXPENDITURES OF]
[QUEBECOR PRINTING & WORLD COLOR]
------------------------------------------------------------------------------
A STRATEGIC INVESTMENT WAS MADE IN OUR ROTOGRAVURE PLATFORM. ON A COMBINED
BASIS (QUEBECOR PRINTING + WORLD COLOR), $1.2 BILLION WAS INVESTED IN NEW
CAPITAL BETWEEN 1996 AND 1998.
------------------------------------------------------------------------------
34 [LOGO]
<PAGE>
FINANCIAL REVIEW
------------------------------------------------------------------------------
FREE CASH FLOW (FROM OPERATING ACTIVITIES, AFTER-TAX)
$1.5B FREE CASH FLOW OVER 3 YEARS
(MARKET CAP IS APPROX. $3.3B)
<TABLE>
<CAPTION>
$ Millions
<S> <C>
1998........................ $ 91
1999........................ $531
2000E....................... $450
2001E....................... $550
</TABLE>
35 [LOGO]
<PAGE>
FINANCIAL REVIEW
------------------------------------------------------------------------------
TRACK RECORD OF MANAGEMENT DISCIPLINE
[GRAPH OF DEBT RATIO]
------------------------------------------------------------------------------
Maintaining a BBB credit rating allows us to continue pursuing accretive
growth.
------------------------------------------------------------------------------
36 [LOGO]
<PAGE>
FINANCIAL REVIEW
------------------------------------------------------------------------------
ACQUISITION BANK BORROWINGS
[GRAPH OF]
[ACQUISITION BANK BORROWINGS]
37 [LOGO]
<PAGE>
QUEBECOR WORLD
------------------------------------------------------------------------------
INVESTMENT HIGHLIGHTS
- UNIQUE GLOBAL PLATFORM
- DIVERSIFIED PRODUCT LINE
- EFFECTIVE USE OF SIZE AND SCALE
- LOW-COST PROVIDER
- CONSIDERED BEST MANAGEMENT TEAM IN THE INDUSTRY
- EMPLOYER OF CHOICE (SUCCESSFUL GROWTH ATTRACTS TALENT)
- MANUFACTURING PLATFORM SECOND TO NONE
- PROVEN DISCIPLINED ACQUISITION STRATEGY
- CONSISTENT DELIVERY OF RECORD RESULTS
- COMMITMENT TO DELIVERING 15% EPS GROWTH OR MORE
- COMMITTED TO GROWING BUSINESS AND INCREASING SHAREHOLDER VALUE
38 [LOGO]
<PAGE>
[LOGO]
39
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
QUEBECOR WORLD INC.
By: /s/ Raynald Lecavalier
--------------------------------
Name: Raynald Lecavalier
Title: Director, Legal Affairs and Assistant Secretary
Date: DECEMBER 6, 2000
